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Articles by Ajay Kumar Maggidi

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Analysis of Companies (Incorporation) Third Amendment Rules, 2022

  Ajay Kumar Maggidi    22 August 2022 at 08:51

The Regulators are becoming more stringent day by day to bring the transparency and accountability in the system.

SEZ (Third Amendment) Rules 2022

  Ajay Kumar Maggidi    21 July 2022 at 08:46

Central government is actively working on "New SEZ Policy" which is expected to be introduced by end of this year to make SEZ units more attractive and to boost the domestic and foreign trade.

FCM on GTA Services

  Ajay Kumar Maggidi    18 July 2022 at 08:44

Starting W.E.F today, i.e. 18-07-2022, GTA dealers may choose option to discharge the tax under forward charge. Let us have a look at what are the changes and how does it impacts.

How to report ITC in Form GSTR 3B as per latest circular

  Ajay Kumar Maggidi    11 July 2022 at 08:43

In order to bring uniformity in reporting of ineligible and reversal of credits, CBIC has issued a circular (No. 170/02/2022- GST) regarding furnishing of information regarding ITC availed, reversal and ineligible ITC in Table 4 of GSTR-3B.

CBIC issued new guidelines for GST refunds

  Ajay Kumar Maggidi    20 June 2022 at 08:32

Recently CBIC has issued detailed guidelines for sanctioning, post-audit and review of refund claims.

Updated Return - Opportunity to file tax return even after prescribed time limit

  Ajay Kumar Maggidi    16 May 2022 at 08:28

With the Introduction of "Updated Return", tax department aimed to reduce the potential litigations that arise due to non filing of ITR or inaccurate ITR's. And, Helps the taxpayers to rectify the discrepancies in filed tax returns.

Section 90: Register of Significant Beneficial Owners in a Company

  Ajay Kumar Maggidi    26 April 2022 at 10:20

Every Significant beneficial owner (SBO'er) shall declare the nature of his interest and other particulars to the company, which will in turn maintain the registers and inform the same to the ROC.

Explained: All you need to know about AIS & TIS

  Ajay Kumar Maggidi    16 November 2021 at 09:42

The Income Tax Department has rolled out the new AIS & TIS, tax payers can now access the same at e-filing portal.

Code on Wages, 2019 - Impact Analysis on Salary Structure, Take Home salary and Retirement Benefits

  Ajay Kumar Maggidi    27 September 2021 at 10:19

There is lot of buzz in the industry on effective date for implementation of new labor laws and their impact on existing Payroll policies, procedures and system..

Tax treatment of interest income on PF contributions

  Ajay Kumar Maggidi    06 September 2021 at 09:25

Interest portion on PF contributions exceeding 2.5L is taxable under the head "Income from Other Sources". Taxable Contributions = ((Contributions in excess of 2.5L/5L*)+(Interest accrued thereon)-( Withdrawals)).