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TCS Registration of E-commerce operators without physical presence enabled
Registration for TCS taxpayers: Registration in a State/ UT with address of Head Office – changes in Form GST REG-07The GST law requires an entity to obtain registration for TCS in each State /UT, whe...
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Extension for submission of LUT for 2020-21, GST TDS, Refund claim
Extension for submission of LUT for 2020-21Notification No. 37/2017-Central Tax, dated 04.10.2017, requires LUT to be furnished for a financial year. However, in terms of notification No. 35/2020-Cent...
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ITAT, for the first time, holds hearing through video conferencing
Ministry Of Law & JusticeIncome Tax Tribunal, ITAT, for the first time, holds hearing through video conferencingPosted On: 24 APR 2020A division bench of the Income Tax Appellate Tribunal (ITAT), led...
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Pricing of Preferential Issues and exemption from open offer for acquisitions in Companies having Stressed Assets
Consultation PaperPricing of Preferential Issues and exemption from open offer for acquisitionsin Companies having Stressed Assets1. Objective1.1 The objective of this discussion paper is to seek comm...
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RBI announces second set of measures to preserve financial stability
and help put money in the hands of the needy and disadvantagedStates and UTs allowed to borrow more to manage COVID-19Reverse Repo rate reduced from 4.0% to 3.75%Relief provided to NBFCs and Real Esta...
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RBI Governor’s Statement, April 17 2020- Further relief- Covid 19
Governor’s Statement, April 17, 2020Today, humanity faces perhaps the trial of its time as COVID-19 grips the world in its deadly embrace. Everywhere, as also in India, the mission is to do whatever i...
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Proposed amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 & IFRS 16
Exposure Draft on Interest Rate Benchmark Reform-Phase 2 (Proposed amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16) – (21-04-2020)The Institute of Chartered Accountants of IndiaIn 2018, Inter...
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ICAI advisory for initiating Statutory Bank Branch audit remotely
Advisory issued by ICAI to approximately 35,000 firms eligible for Bank Branch Audit for initiating the process of Statutory Bank Branch audit remotely to ensure timely and effective Bank Branch Audit...
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Necessity of Statutory Branch Audit in Public Sector Banks
It has come to the notice of Professional Development (PD) Committee of Institute of Chartered Accountants of India (ICAI) that one of the public sector banks (PSBs) has requested that Indian Banks’ A...
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Coronavirus Lockdown Rules for Workplaces
Beginning April 20, India’s workplaces and work environments should follow these standardsTo battle against the savage COVID-19, the second period of across the nation lockdown started in India today....
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Extension For Names Reserved & Resubmission of Forms by MCA
MCA Extends timeline for Name Reservation / Re-submission for Companies & LLP’sIn view of the situation arising due to COVID-19 pandemic and extended lockdown period, Ministry of Corporate Affairs has...
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Companies allowed to hold AGM till 30.09.2020 whose FY ending on 31.12.2019
Companies whose financial year (other than first financial year) has ended on 31st December, 2019, can hold their AGM for such financial year within a period of nine months from the closure of the fin...
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CCI advises businesses not to take undue advantage of COVID-19
Competition Commission of India19.04.2020Advisory to Businesses in Time of COVID-19 COVID – 19 has caused disruptions in supply chains, including those of critical healthcare products and other essent...
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CSR Funds can be used to fight Coronavirus
The world is at a crisis situation. We are going through a pandemic with far reaching effects not seen by anyone living today. There are thousands of people dying all over the world and the numbers ma...
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Extension of Quarterly TDS/TCS statement filing dates
NSDL e- Governance Infrastructure LimitedTIN Operations CircularCircular No. NSDL/TIN/2020/006April 20, 2020Subject: Extension of Quarterly TDS/TCS statement filing datesAttention of all TIN Faciliati...
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Relaxation in SVLDRS Module- Due to emerging pandemic COVID-19
As we all are aware that, SVLDRS was introduced with the twin objectives- First, finalize the legacy disputes in Central Excise and Service Tax that are pending at various forum and second, encouragin...
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E-mails for facilitating faster refund cannot be misconstrued as harassment: CBDT
Ministry of FinancePosted On: 21 APR 2020The Central Board of Direct Taxes (CBDT) responding to some observations being circulated on social media alleging that the Income Tax Department is pursuing r...
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CBDT revising Income Tax return forms due to Covid-19
Ministry of FinanceCBDT revising return forms to enable taxpayers avail benefits of timeline extension due to Covid-19Posted On: 19 APR 2020In order to enable income taxpayers to avail full benefits o...
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Initiative to Boost MSME Sector by Ministry of MSME
Early Clearance Of Msme’s’ Bills.Overview:Ministry of Micro, Small and Medium Enterprises (MSME) vide press release dated 16.03.2020 and Release ID: 1606525 addressed issues related to delayed payment...
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Corrigenda to Finance Act, 2020
MINISTRY OF LAW AND JUSTICE(Legislative Department)New Delhi, the 15th April, 2020CORRIGENDATHE FINANCE ACT, 2020NO. 12 OF 2020In the Finance Act, 2020 (12 of 2020) as published in the Gazatte of Indi...