GST Calendar –Compliances for the month of June’2024 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) July 10, 2024 GSTR-8 (Tax Collected at Source ‘TCS’) July 10, 2024 GSTR-1 July 11, 2024 IFF- Invoice furnishing facility (Availing QRMP) July 13, 2024 GSTR-6 Input Service Distributor July 13, 2024 GSTR-2B (Auto-Generated Statement) July 14, 2024 GSTR-3B July 20, […]
Important Judicial Precedents 1. As per the settled position in law, interest accrued on compensation received can be termed as capital receipt & hence, not taxable: HC [2024-TIOL-960-HC-DEL-IT_ITA 1114/2018 _PCIT-4 Vs. INS FINANCE AND INVESTMENT PVT LTD] It is pertinent to point out that this amount cannot be characterized as compensation granted by the Court on account of cancellation of […]
Alphabet’s Google will pick up a minority stake worth $350 million in Walmart-backed Flipkart, valuing the Indian e-commerce firm at $37 billion. The tech giant will join in as an investor in the latest funding round for the Bengaluru-based company. The round will be led by Walmart, Flipkart’s biggest shareholder and will make Google a minority investor, subject to approvals. […]
GST Calendar –Compliances for the month of May’2024 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) June 10, 2024 GSTR-8 (Tax Collected at Source ‘TCS’) June 10, 2024 GSTR-1 June 11, 2024 IFF- Invoice furnishing facility (Availing QRMP) June 13, 2024 GSTR-6 Input Service Distributor June 13, 2024 GSTR-2B (Auto-Generated Statement) June 14, 2024 GSTR-3B June 20, […]
NOTIFICATION S.O. 2103(E) [NO. 44/2024/F.NO.370142/10/2024-TPL], DATED 24-5-2024 The CBDT via this notification notified ‘363’ Cost Inflation Index (CII) for Financial Year 2024-25. 2. Notification G.S.R. 233 (E), dated 27th March , 2024. The CBDT amends Form 27Q; added ‘Note 7A’ for furnishing information about lower or no TDS under section 197A. Taxpayers are now required to write “P” if lower […]
India’s Godrej family has decided to restructure its shareholding in the conglomerate to operate as two entities, Godrej Enterprises and Godrej Industries. The realignment will be implemented after the relevant regulatory approvals have been obtained, after which the two companies will continue to use the Godrej brand. Godrej Enterprises Group (GEG) will be headed by 75-year-old Jamshyd Godrej as chairperson […]
GST Calendar –Compliances for the month of April’2024 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) May 10, 2024 GSTR-8 (Tax Collected at Source ‘TCS’) May 10, 2024 GSTR-1 May 11, 2024 IFF- Invoice furnishing facility (Availing QRMP) May 13, 2024 GSTR-6 Input Service Distributor May 13, 2024 GSTR-2B (Auto-Generated Statement) May 14, 2024 GSTR-3B May 20, […]
1. Circular No. 7/2024: Extension of due date for filing of form 10A/10B Under the income-tax Act, 1961. Form No. 10A, in case of an application under clause (i) of the first proviso to clause (23C) of section 10 or under sub-clause (i) of clause (ac) of sub-section (1) of section 12A or under clause (i) of the first proviso […]
Navigating the financial world may be challenging for entrepreneurs, especially when they have to deal with complex data like Financial Statements. But understanding or analysing those assertions is essential to making sound decisions and moving your organization towards success. Here in the beginners guide, we have tried to simplify the basic fundamentals of financial statements and their construction so users […]
In this edition we have tried to bring you notice the latest amendment that followed in the month of March, 2024 issued by RBI, CCI and others. RBI Updates Master Direction – Reserve Bank of India (Bharat Bill Payment System) Directions, 2024 RBI has issued a Master Direction – Reserve Bank of India (Bharat Bill Payment System) Directions, 2024 which […]