Recent amendment 1. The Ministry of Corporate Affairs issued separate notifications on 24th of March 2021 with a view to promote transparency and accountability in company financial statement, whereby, it brought about changes in the Companies (Audit and Auditors) Rules 2014 (Audit Rules) and also in the Companies (Accounts) Rules 2014 (Accounts Rules) and in Schedule III of the Companies Act 2013. Applicable date of amendments 2. These amendments are applicable with effect from first April 2021. This means, the financial statements prepared
Month: September 2021
How to Manage Startup Risks
Opportunity and risk work together in a business to chart the path of success (or failure). The markets move on the assumption of a direct relationship between risk and reward – the greater the potential upside, the higher the risks involved. At the same time, the converse may not be true as situations involving higher risk may have little or no upside. Being aware of these intricacies and ability to judiciously pick the risks to take and to avoid differentiates
Extension!
On consideration of difficulties reported by the taxpayers and other stakeholders in electronic filing of certain Forms under the provisions of the Income-tax Act, 1961 read with Income-tax Rules, 1962 (Rules), Central Board of Direct Taxes (CBDT), in exercise of its powers under section 119 of the Act dated 29th Aug 2021, extends the due dates for electronic filling of such forms as under. Important Judicial Precedents Holds “Assessing Officer is not permitted to make changes in whatever determined in regular
Resolving Albatross surrounding Goods and Services Tax
GST Calendar –Compliances for the month of August’2021 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) September 10,2021 GSTR-8 (Tax Collected at Source ‘TCS’) September 10,2021 GSTR-1 August 2021 September 11, 2021 IFF- Invoice furnishing facility (Availing QRMP) September 13, 2021 GSTR-6 August 2021 Input Service Distributor September 13, 2021 GSTR-2B (Auto Generated Statement) September 14, 2021 GSTR-3B August 2021 September 20, 2021 GSTR-5 August 2021 (Non-Resident Taxable Person) September 20, 2021 GSTR-5A August 2021 (OIDAR Service
Amendments issued by MCA & RBI
In this edition we have tried to bring to your notice the latest amendment that followed in the month of August, 2021 issued by MCA and RBI. Amendments issued by MCA Companies (Appointment and Qualification of Directors) Amendment Rules, 2021 In exercise of the powers conferred by section 149 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Appointment and Qualification of Directors) Rules,
Infra.Market raises funding led by Tiger Global, valued at $2.5 bn
Tiger Global led another round of investment in Infra.Market with $125 million ($928 crore) in a Series D funding. The latest funding round values the company at $2.5 billion (around Rs 18,560 crore). Infra.Market, a technology-enabled marketplace for on-demand construction materials, hit unicorn status (valued at $1 billion [about Rs 7,245 crore]) after raising $100 million (about Rs 724 crore) in a Series C funding round from its existing investors including Tiger Global, Accel, Nexus Venture Partners, Evolvence India Fund,