India’s July 2022 macro-economic indicators show encouraging signals with the Indian economy on the path of recovery amid prevailing global…
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Insights
Reduction of time period for ITR E-verification.
Reduction of Time Limit for E-verification of Income Tax Return (‘ ITR ’) from 120 days to 30 days of…
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Technical guide on financial statements of LLPs
The ICAI has issued the ‘Technical Guide on Financial Statements of Limited Liability Partnerships (LLP) that prescribes the format for…
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GST on “pre-packaged and labelled” goods
Prior to 18th July 2022, GST was applicable on food items, grains etc. only when they were put in a unit…
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June 2022 Macro-Economic Update
India’s June 2022 macro-economic indicators suggest the Indian economy is on the path of recovery with looming pressure of inflation and…
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Recommendations of 47th GST Council
The Council has increased rates of various goods & services to remove the impact of inverted duty structure or for various…
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Restoration of Director’s name in the databank.
The Central Government (CG) has inserted a new sub-rule (5) in the Rule 6 of Companies (Appointment and Qualification of Directors)…
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Technical guide on financial statements of non-corporate entities
The ICAI has issued the ‘Technical Guide on Financial Statements of Non-Corporate Entities’ that prescribes the format for the preparation…
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Sum paid as Bonus or Commission to Employees of a company disallowable u/s. 36(1)(ii) of the Income Tax Act, 1961 if the same is in lieu of Profit or Dividend
Disallowance of Bonus / Commission paid u/s. 36(1)(ii) Download PDF:-
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Extension to LLP for filing various event based forms upto June 30th, 2022
Relaxation of levy of additional fees upto 30th June, 2022 for filing all event based e-forms by LLP Download PDF:-
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May 2022 Macro-Economic Update
India’s May 2022 macro-economic indicators suggest mixed signals with the Indian economy of path of recovery amid prevailing global uncertainties.…
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Extension to LLP for filing of Form 11 for the Financial Year ended March 31, 2022.
Relaxation on levy of additional fees for annual return filings i.e Form 11 w.r.t financial year ended March 31, 2022. Download PDF:-
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Macro Economic Factors- April 2022
India’s macro-economic indicators suggest a strong economic recovery across the economy, however going forward rising inflationary pressures may put downward…
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Insertion of Rule 12AC to Income Tax Rules, 1962
Central Board of Direct Taxes (CBDT) has issued Notification No. 48/2022 on 29th April, 2022 through which Central Government has introduced…
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Strict Compliance – regarding Verification/ Clarification of documents related to incorporation of a Company or a LLP by Practicing Professionals.
The Corporate Laws & Corporate Governance Committee, ICAI issued an announcement on 28th April, 2022 stating that the Verification of documents…
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