Recent Updates CBDT notifies books & other documents to be maintained u/s 10(23C)/12A. Notification No. 94/2022 dated 10-08-2022. CBDT amends Rule 17CB to replace ‘trust or institution’ with ‘specified person’ in relation to Method of valuation for the purposes of sub-section (2) of section 115TD. CBDT extends time-limit for furnishing of Form-67. Foreign Tax Credit (FTC) can be claimed at time of filing […]
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 […]
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 […]
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, […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]