Don’t Delay With Filing of Your Income Tax Return
If a person is required to file ITR but does not file it on time prescribed under Income tax act then late fees have to be deposited by him while filing his ITR.
Search Results for: compliance report
RERA provision regarding 70 percent Deposit in Bank Account
One of the most prominent provision requires the Developers to deposit 70 percent of the funds collected from buyer in a separate bank account.
Difference Between Partnership and LLP
A details article where we are discussing about difference between partnership and LLP.
Rectification of Returns under GST
The Finance Ministry has permitted businesses to rectify mistakes in their monthly returns – GSTR-3B – and adjust tax liability, a move that will help them file correct returns without fear of penalty. This relaxation will give an opportunity to businesses to claim tax credit correctly by rectifying the mistakes made initially while computing GST liability. Businesses … Continue reading “Rectification of Returns under GST”
Revise Trans-1 by 27th December to ensure bonafide credit claimed
The finance ministry on Tuesday urged businesses to revise any wrongful claim of tax credits from the previous indirect tax regime saying that “extraordinarily high” claims unsettles the trust between firms and the tax authorities. In a statement, the ministry warned that assessees who have erroneously claimed tax credit from the previous regime should correct … Continue reading “Revise Trans-1 by 27th December to ensure bonafide credit claimed”
New outsourcing norms for NBFC released by RBI
Non-Banking Financial Companies (NBFC) cannot outsource core management functions like internal audit, strategic and compliance functions for your Know Your Customer (KYC) norms, the sanction of loans and management of investment portfolio. As per notification number RBI/2017-18/87 on RBI’s website, Access to customer information by the staff of the service provider shall be on ‘need … Continue reading “New outsourcing norms for NBFC released by RBI”
GST Impact on E-Commerce Industry
India has become the second largest market for e-commerce. It has now become imperative for the business to understand and adopt e-commerce to grow trade in India.
Due-date Extended for Filing ITR (Audit)
The Central Board of Direct Taxes, the decision making body under section 119 of the Act, in respect of all assesses covered under clause (a) of Explanation 2 to sub-section 139 of the Act, has extended the due-date for filing the return of income as well as various reports of audit restricted under the Income-Tax … Continue reading “Due-date Extended for Filing ITR (Audit)”
RERA – A New Beginning For Real Estate
Real Estate (Regulation and Development) Act, 2016 was first passed by Rajya Sabha on March 10, 2016 and passed by Lok Sabha on March 15, 2016. RERA Bill was first introduced in the year 2013.
Return Filling: Guide To File GST Return
GST works on a self-monitoring mechanism, which is matching the concept of invoice between supplier and recipient of goods and services. Only after matching of invoices and payment of tax by the supplier, the input tax credit will be available to the recipient.
Do You Know The Importance of Invoice in GST?
It is generally issued by the supplier notifying the purchaser of the obligation to make payment in respect of any transaction.
Your Bank Account Would Be Blocked, If Not Self-Certified Before April 30
Bank accounts opened between July 1, 2014 and August 31, 2015 need to submit self-certification by April 30 to comply with FATCA.
Working Groups set Up By CBEC For Addressing GST Issues
Ten working groups have been set up to address issues related to banking, financial services and insurance sector, telecommunication, MSME and government services.
GST- What Going to Effect FMCG Industries
Fast moving consumer goods segment is the fourth largest sector in the Indian economy and the Food products is the largest consumption category in India
GST Implication on Textile Industries
Textile sectors play a very important part in the development of the Indian economy with regard to GDP, Export promotion, employment, etc.The textile industry is the second largest industry which provides skilled and unskilled employment.
join For Updates