As per the notification by MCA the time limit for filing Form NFRA-1 will be 30 days from the date of deployment of this form on the website of Ministry/National Financial Reporting Authority (NFRA) for all bodies corporate governed by the said rule (excluding companies as defined under sub-section (20) of section 2 of the Companies Act, 2013, which are not required to file this Form).
As per section 2(20) - "company" means a company incorporated under this Act or under any previous company law.
However, as per the MCA notification 3 (2) - Every existing body corporate other than a company governed by these rules, shall inform the Authority within thirty days of the commencement of these rules, in Form NFRA-1, the particulars of the auditor as on the date of commencement of these rules.
So Is filling of NFRA-1 form is applicable for Private Company?

Dear Sir,

Greeting for the Day!!!

We are deducting PF of an employee.. Now his basic salary has been increase to Rs. 17500.

Could we discontinue to deduct PF due to basic Salary has crossed thrash hold limit of PF Rs. 15,000.

Please suggest.

Thanks & Regards
Sandeep

DEAR CORPORATE EXPERTS,
In a Company, there were two directors
out of them, one got death.
Now It is required to appoint one director in place of dead person.
Problem is that
DIN of dead person is not updated through DIR3-KYC form,
by which I could not file the form DIR-12 of resignation of dead person
in this case 2 Queries are
1. Can DIN of Dead person get updated through DIR-3-KYC Form
2. Please Suggest me best solution

1. We are in manufacturing of Auto products which are used by various auto industries. For making this Auto Products we have to develop & make Tools/Dies.

2. The sale of Tools/Dies is not included in our main business.

3. We are also exporting the Auto Products.

4. The export party gives us Tool/Dies cost amount in advance separate from regular export sale.

5. We are taking the Input credit on the making of the Tools/Dies.

6. The Tools/Dies physically remains with us as a property of the export party. They are not physically exported outside the country.

7. The export party after the completion of said order (say after 5-10 years) demands the scarp value of the above Tools/Dies.

Our queries are as follows:- 1. Whether we have to consider the sales of Tools/Dies as export sale or treat the whole receipt as indirect income.

2. Are we liable to pay “GST” on the above sale of Tools/Dies? If yes, please give a detail idea as how ?

3. Whether we can show the above tools as our asset and claim the depreciation on the above Tools/Dies

Dear Experts,
A client of mine who has not deposit tax under RCM on freight since the freight amount was below 750/- hence we have not ask the client to deposit the tax under RCM. Now the client has received the summon u/s 70 of CGST act. 2017. However I was present before assessing officer. He said in GST law where it is written that No tax is payable on freight under RCM if freight amount is below 750/- therefore all the members are required to please provide me the relevant reference for the same on urgent basis.

Thanks
ASAP

Hello Everyone,

My company offers me different types of allowances such as telephone, newspaper etc and thus FY has standard Deduction of 40k which includes transport and medical allowances so my question is am I still eligible for allowances which my company offers me.
Thanks in advance

For one of my friend issue i need some suggestion, and his business is used car trading and his income on commission basis, his turnover is 93 lakhs during AY 2016-17 and there was excess cash deposit of 4 Lakhs which was showed sundry debtors in previous year from third party has been deposited and confirmation letter was given to AO but they have not accepted it and added to tax in special rate for 4 lakhs can i go for appeal

Can benefit be taken even if house is under construction, or booked but possession is not yet received? Do restrictions like those u/s 24 apply in case of sec 80EE as well?
Can this deduction be availed, even when Income from House Property Schedule in ITR is not filled, as ownership of the house is not yet obtained, or construction is not complete?

I have not filed GSTR-3B for the month of October, 2018 till date. we Have some liability that has to be paid. Whether interest for late payment will be paid while filing return for the month of October, 2018 or while filing return for the month of November, Pls guide on the same

Thanks & regards

An assessee received Salary Income of Rs.45000/- for the month of April 2018. He resigned and is now doing business and has earned Net profit of more than 500,000/- upto October 2018.

The question is - Can he take full benefit of Rs.40,000/- as standard deduction from salary or proportionately for a month??

Please reply.