Jai Kisan snags $50 mn in first close of Series B at $200-240 mn valn: Jai Kisan, a rural fintech start-up, has raised capital to the amount of USD 50 million (c. 398.5 cr) in a mix of equity and debt in the first close of its ongoing Series B round. The investors invested funds at a pre-money valuation of USD 200 – 240 million. The fintech startup is expected to raise another USD 30 – 50 million in its
Month: August 2022
Indirect Tax News Letter- July 2022
GST Calendar –Compliances for the month of July 2022 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) August 10, 2022 GSTR-8 (Tax Collected at Source ‘TCS’) August 10, 2022 GSTR-1 August 11, 2022 IFF- Invoice furnishing facility (Availing QRMP) August 13, 2022 GSTR-6 Input Service Distributor August 13, 2022 GSTR-2B (Auto Generated Statement) August 14, 2022 GSTR-3B August 20, 2022 GSTR-5 (Non-Resident Taxable Person) August 20, 2022 GSTR-5A (OIDAR Service Provider) August 20, 2022 PMT-06 (who have
New Labour Codes for New India
India is in process to implement new labour law reforms by: consolidating 29 existing legislations into 4 new Codes standardising, rationalising & updating the existing labour laws with contemporary relevance; covering employees from both organized and un-organised sector; emphasising on transparency, accountability and tech-based operations ensuring ease of operations and enforcement. Biggest impacts of the New Labour Codes: Payroll: Uniformity in definitions including that of ‘Wages’ across labour law; Requires ‘Wages’ to be 50 Percent of CTC[1]; Gratuity Eligibility may
Corporate and Legal Alert-July 2022
In this edition we have tried to bring you notice the latest amendment that followed in the month of July, 2022 issued by MCA, RBI, SEBI, DIPP and others. AMENDMENTS ISSUED BY MCA MCA notification for V3 portal w e f 31st August 2022 Following forms will be rolled out in this phase: DIR3-KYC Web, DIR3-KYC E-form, DPT-3, DPT-4, CHG-1, CHG-4, CHG-6, CHG-8 & CHG-9. To read more –https://www.mca.gov.in/content/mca/global/en/home.html MCA CLARIFICATION FOR “HAR GHAR TIRANGA” (CSR FUNDS SPENDING) It is clarified
Direct Tax Alert- July 2022
CBDT reduces time limit to verify ITR from 120 days to 30 days for returns filed on or after 01-08-2022 The Central Board of Direct Taxes (CBDT) has reduced time limit for e-verification or submission of ITR-V from 120 days to 30 days for the Income-tax returns filed on or after 01-08-2022. This notification will come into effect from 01.08.2022. It is further, clarified that the date of dispatch of Speed Post of duly verified ITR-V shall be considered for the