Assurance is the process used in the assessment of accounting entries and financial records. Assurance is a process of verifying the records available in the company as per accounting standard and principle, and it also verifies that the accounting records are accurate or not. Assurance specializes in assessing and improving the quality of information in a company. It helps in decision making in an organization. The use of Assurance is to check the accuracy of financial reports. It also assures
Month: July 2022
CORPORATE FINANCE ALERT-JUNE 2022
PhysicsWallah joins unicorn club with $100 mn maiden fundraise: Edtech startup PhysicsWallah (PW) has raised USD 100 million (around INR 777 crore) in Series A funding from Westbridge and GSV Ventures at hitting a unicorn valuation in its maiden fundraise. With this PW has become India’s 101th unicorn. The latest capital raised will be used for business expansion, branding, and opening more PW learning centres. In 2016, PW, initially, started as a YouTube channel by Alakh Pandey. During the pandemic of 2020, Alakh joined hands
CORPORATE AND LEGAL ALERT- JUNE 2022
In this edition we have tried to bring you notice the latest amendment that followed in the month of June, 2022 issued by MCA, RBI, SEBI, DIPP and others. Amendments issued by MCA Through this amendment, MCA has added a new sub-rule 4 in Rule 25A of the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016, to provide that in case of a compromise or an arrangement or merger or demerger between an Indian company and a company or body corporate
INDIRECT TAX ALERT-JUNE 2022
GST Calendar –Compliances for the month of June’2022 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) July 10,2022 GSTR-8 (Tax Collected at Source ‘TCS’) July 10,2022 GSTR-1 July 11,2022 IFF- Invoice furnishing facility (Availing QRMP) July 13,2022 GSTR-6 Input Service Distributor July 13,2022 GSTR-2B (Auto Generated Statement) July 14,2022 GSTR-3B July 20,2022 GSTR-5 (Non-Resident Taxable Person) July 20,2022 GSTR-5A (OIDAR Service Provider) July 20,2022 PMT-06 (who have opted for QRMP scheme) July 25,2022 47th GST Council Meet
DIRECT TAX ALERT-JUNE 2021
Finance Act, 2022 inserted section 194R, providing for withholding tax on the provision of any benefit perquisite provided by any person to any resident, in the exercise of the business or profession by such resident. Applicable in case the value of such benefit or perquisite provided in the aggregate exceeds Rs. 20,000/- during the F.Y. This section is applicable from 01.07.2022. Finance Act, 2022 inserted a new section 194S in the Act w.e.f. 1st July 2022. The new section mandates