CAclubindia Articles
How To improve Business Operations and increase Profits: Process Standardization
Managers should standardize processes and automate them when possible to achieve optimal performance, higher productivity, and bottom line profits. Let us get a deeper understanding of process standardization.
Important GST Activities of Sept 2021 - Monthly GST Returns
As we are entering into September, certain activities are to be done w.r.t GST returns for the FY 2020-21. This month is the last choice to make corrections in GST returns relating to sales or purchases.
GST Important Updates Offering Relief to Taxpayers
CBIC extends the timeline for filing of the application for revocation of cancellation of registration and late fee amnesty scheme while also amending Form GST ASMT-14 via CGST (Seventh Amendment) Rules, 2021.
Income Tax Updates: Extension of timelines dated 29th August 2021
CBDT has announced an extension in the electronic filing of various forms under the Income Tax Act on 29th August 2021. Same has been discussed in a tabular format in this article.
Income Tax (CBDT) Due Date Further Extended on 29th August 2021
CBDT, in exercise of its power u/s 119 of the Income-tax Act, 1961 has issued a circular w.r.t. Extension of timelines for electronic filing of various Forms under the Income-tax Act, 1961.
Interplay of Sec 44AA, 44AB and 44AD of the Income Tax Act, 1961
There are various monetary limits u/s Sec 44AA, 44AB and Sec 44AD relating to maintenance of books of accounts and audit. These provisions have created ambiguity among taxpayers and professionals.
Now non-filing of GSTR-3B for two months restricts filing of GSTR-1 / IFF
Rule 59(6) of CGST Rules,2017 providing for restriction in the filing of GSTR-1 has been inserted by CBIC which will be implemented on the GST Portal from 1st September 2021.
GST Filing Rules Will Change From 1st September 2021
Businesses that have not filed GSTR-3B returns in the preceding two months will not be able to file details of outward supplies in GSTR-1 from September 1, GSTN has said.
Corporate Compliance Calendar for the month of March 2021
This article contains various Compliance requirements for the Month of March, 2021 under various Statutory Laws.
What is Standard Deduction for Salaried Individuals?
A standard deduction of flat INR 50,000 is available to the taxpayers. From FY 2020-21 the Standard Deduction can be claimed if the salaried individual does not opt for concessional Tax Rates in the New Tax Regime.
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