With a view to provide ease to the LLPs, it is submitted that the time limit for preparing the Statement of Account and Solvency and for getting the accounts audited and the subsequent filing thereof be kindly extended for a period of 30 days.
ICAI released the results of CA examinations held in July 2021. In a brilliant streak, girls swept the top ranks in both old and new courses in final examinations. The achievers proved that success needs just dedication and stern willpower.
Suggestions for widening the tax base, increasing the tax revenue, checking of tax avoidance, reducing litigations, rationalization of the provisions of Direct Tax Laws and removing administrative and procedural difficulties may be submitted.
The Institute of Chartered Accountants of India has extended the last date for Payment of Membership/COP Fee for the year 2021-22 to 31st December 2021. As such, members are requested to pay the fees online through the Self-Service Portal (SSP).
The Government of India has received Rs. 8,08,672 crore upto August, 2021 comprising of Rs. 6,44,843 crore Tax Revenue (Net to Centre), Rs. 1,48,650 crore of Non Tax Revenue and Rs. 15,179 crore of Non Debt Capital Receipts.
As of May 2021, India's United Payments Interface (UPI) has seen participation of 224 banks & recorded 2.6 billion transactions worth over $68 Bn and the highest ever, more than 3.6 Bn transactions, in Aug'21.
The Institute of Company Secretaries of India has written a representation letter to the Ministry of Corporate Affairs requesting the concerned authorities to extend the time limit for filing of DIR-3 KYC for a period of 30 days.
As on 24th September 2021, loans sanctioned have crossed Rs. 2.86 lakh crore under the Scheme and out of total guarantees issued, about 95% of the guarantees issued are for loans sanctioned to Micro, Small and Medium Enterprises.
A preliminary analysis has been done by NFRA on the key financial parameters of the companies registered in India and it is found that the fees paid to auditors by a large majority of MSMCs are way below what an audit would require.
CBDT has authorized the Commissioner of Income Tax to admit an application for settlement on behalf of the Interim Board filed after 31.01.2021 and before 30.09.2021 and treat such applications as valid and process them as "pending applications".
FR & Direct Tax (Regular Batch Combo) For May 26 & Onwards