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 […]
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 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 […]
Recent Updates Central Govt. approves 8.10% interest rate on provident fund deposits for year 2021-2022 The Ministry of Labour and Employment, Government of India has conveyed the approval of the Central Government to credit interest @ 8.10% for the year 2021-22 to the account of each member of the EPF scheme. NOTIFICATION NO. INV-11/2/2021—INV/4670 dated 03.06.2022. CBDT notifies Faceless Penalty […]