INTERNAL AUDIT Internal Audit is an independent appraisal activity within an organization for the review of, and to improve, the accounting, financial and other operations as basis for protective and constructive service to the management. IMPORTANCE Internal Audit has great importance in itself as an influential function within a company which helps in improving the functions and operations of the […]
1.CIRCULAR NO. 21/2022 [F.NO. 275/25/2022-IT (B)], DATED 27-10-2022 Vide this circular the Central Board of Direct Taxes (CBDT) in exercise of its powers under section 119 of the Income-tax Act, 1961, extends the due date of filing of Form 26Q for the second quarter of financial year 2022-23 from 31st of October, 2022 to 30th of November, 2022. 2. CIRCULAR […]
In this edition, we have tried to bring you to notice the latest amendment that followed in the month of October 2022 issued by MCA, RBI, SEBI, DIPP, and others. Amendments issued by RBI RBI launches advanced supervisory monitoring system DAKSH Reserve Bank governor Shaktikanta Das has launched a new ‘SupTech’ initiative DAKSH – the bank’s Advanced Supervisory Monitoring System, […]
Bira91 to Buy Beverage Chain Beer Cafe: The Beer Café is set to be acquired by beer maker Bira 91 as it eyes a stronger play and offerings in pubs & taprooms market. It presents a huge opportunity for Bira 91 to leverage its infrastructure, experience, and expansion capabilities to further refine The Beer Café’s strong operating model and better […]
Edtech firm Lido Learning files for insolvency: Ronnie Screwvala’s Unilazer Ventures-backed Quality Tutorials Pvt. Ltd, which runs edtech platform Lido Learning, has filed for insolvency, according to the company’s latest filings with the corporate affairs ministry. In a meeting early this week, Lido’s board passed a special resolution to file for the corporate insolvency resolution process under section 10 of the […]
In this edition we have tried to bring you notice the latest amendment that followed in the month of September, 2022 issued by MCA, RBI, SEBI, DIPP and others. AMENDMENTS ISSUED BY MCA Amendment to Schedule III to the Companies Act, 2013 vide Notification GSR. 207(E) The notification mandates companies to round off the figures appearing in the Financial Statements depending […]
Vide this circular the Central Board of Direct Taxes (CBDT) has issued additional guidelines for removal of difficulties under sub-section (2) of section 194R of the Income-Tax Act, 1961. Earlier, the CBDT had issued guidelines vide Circular no. 12 of 2022, dated 16th June, 2022. Vide this letter dated 16.09.2022 the Central Board of Direct Taxes (CBDT) has issued Guidelines […]
GST Calendar –Compliances for the month of October 2022 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) October 10, 2022 GSTR-8 (Tax Collected at Source ‘TCS’) October 10, 2022 GSTR-1 October 11, 2022 IFF- Invoice furnishing facility (Availing QRMP) October 13, 2022 GSTR-6 Input Service Distributor October 13, 2022 GSTR-2B (Auto Generated Statement) October 14, 2022 GSTR-3B […]
Sequoia Capital pares stake in Zomato: Sequoia Capital India has pared its stake in Zomato Ltd by selling shares in the open market, joining Tiger Global, Uber and Moore Strategic Ventures among investors who have either fully or partially sold their holdings in the online food delivery aggregator in recent weeks. Sequioa, which first invested in Zomato in 2013, sold […]
Indirect Tax News Letter GST Calendar –Compliances for the month of August 2022 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) September 10, 2022 GSTR-8 (Tax Collected at Source ‘TCS’) September 10, 2022 GSTR-1 September 11, 2022 IFF- Invoice furnishing facility (Availing QRMP) September 13, 2022 GSTR-6 Input Service Distributor September 13, 2022 GSTR-2B (Auto Generated Statement) […]