CAclubindia Articles
LLP Settlement Scheme, 2020
This scheme is applicable to any defaulting LLP i.e. LLP registered under Limited Liability Partnership Act, 2008 and which has made default in filing of documents on the due dates specified under LLP act 2008 and the rules made there under and which were due to be filed till 31st October, 2019.
ICAI issues advisory for companies to whom CSR apply
30 May 2020
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Advisory for Members of the Institute of Chartered Accountants of India (ICAI) and Companies to whom CSR provisions under Companies Act, 2013 apply
Corona Relief Fund should be treated as tax credit
I propose a suggestion to have a Corona Relief Fund and appeal for donation even Rs 1000. I also propose a new kind of tax credit for the next 6 years on this donation.
Amendment in Schedule VII of Companies Act, 2013
The MCA recently announced an amendment in Schedule VII of the Companies Axt 2013. Along with the National Relief Fund, now PM CARES Fund will also come under Schedule VII
Equalisation levy/Disallowance u/s 40 (a)(ib) of the Income Tax Act
Equalisation Levy was introduced in India in 2016, with the intention of taxing the digital transactions i.e. the income accruing to foreign e-commerce companies from India. It is aimed at taxing business to business transactions.
A Quick Overview of recent rulings under GST
Various rulings and judgments have been announced under GST. Here is a brief overview of the same.
How to make work from home effective?
Earlier Work from Home (WFH was seen as facility offered for Work-life Balance, now it is Business Continuity Plan (BCP). Here are a few points or ideas to make effective use of WFH
Instant PAN through Aadhaar based e-KYC - Digital revolution
The instant allotment of PAN through Aadhaar based e-KYC has been launched by the FM. This facility provides PAN in near to real-time basis.
GSTR 9 : All about GSTR-9
What is GSTR 9? The GSTR 9 is a document or statement that has to be filed once a year by a registered taxpayer. This document will contain the details of all supplies made and received under various tax heads (CGST, SGST and IGST) during the entire year along with turnover and audit details for the same.
Can Taxpayers claim the credit by filing TRAN-1 or not?
Though the govt had made retrospective amendment in law but it will not be at par with the legal rights of the tax payer. The government had to inserted sub rule 1A under rule 117 owing to the technical difficulties on common portal faced by the taxpayers. Had it not been an issue, no need would have aroused for extending the due date.
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