Commerce Professionals Study Circle

10/09/2021

https://www.taxinfo.in/post/cbdt-decided-to-extend-filing-timelines-for-fy-20-21

*CBDT extends due dates for filing of Income Tax Returns and various reports of audit for AY 2021-22* Due date for filing of *ITR for AY 2021-22 which was originally 31st July extended to 31st December, 2021* Furnishing of *Report of Audit for AY 2021-22 which was originally 30th September extended....

26/06/2021

https://www.taxinfo.in/post/easing-out-the-compliance-u-s-206ab-and-206cca

Background Via Finance Act 2021, Section 206AB and 206CCA are inserted in the Income-tax Act,1961 (effective from 1st July 2021). These sections impose a higher TDS/TCS rate on the “Specified Persons”, as defined in the new sections. In view of the above, Income Tax Department has facilitated a ...

26/06/2021

https://www.taxinfo.in/post/tax-exemption-on-amount-received-for-covid19-treatment

Tax exemption I. Many taxpayers have received financial help from their employers and well- wishers for meeting their expenses incurred for treatment of Covid-19. In order to ensure that no income tax liability arises on this account, it has been decided to provide income-tax exemption to the amount...

21/06/2021

https://www.taxinfo.in/post/big-relief-to-tax-deductor-and-tax-collector-cbdt-issues-functionality

Sub.: Circular regarding use of functionality under Section 206AB and 206CCA of the Income-tax Act, 1961- reg. Finance Act, 2021 inserted two new sections 206AB and 206CCA in the Income-tax Act 1961 (hereinafter referred to as "the Act") which takes effect from I Sl day of July, 2021. These sections...

10/09/2020

https://www.taxinfo.in/post/mca-relief-measures-by-extending-due-date-of-agm-to-31st-december-2020

The Ministry of Corporate Affairs (MCA) has extended the deadline for holding the Annual General Meeting (AGM) by companies from September 30 to December 31, owing to COVID-19. Every year, companies hold their AGMs towards the end of the six months of the financial year, starting from April.

03/08/2020

https://www.taxinfo.in/post/do-you-have-all-back-up-of-gst-data-gst-portal-may-not-retrieve-old-data-for-3-years-or-more

July 2017 data removed from GST Portal: 1. GST Portal is notified vide Section 146 of the CGST Act' 2017 which facilitates all the compliance support under GST. 2. Now today on 1st August 2020 Return Data for July 2017 has been removed from GSTN portal not available for viewing (Screenshot attached)...

30/07/2020

ITR date extension

26/07/2020

Central government in consultation with NFRA, has made some amendments in C ompanies ( Indian Accounting Standard) Rules, 2015 the summary of which is as under : *Ind AS 103*: Have defined “business” in more detail and an optional test to identify concentration of fair value. *Ind AS 107* Disclo...

07/06/2020

if you follow your passion you will never work a day in your life..

This line fits with best of its spirt to Jaipur based food blogger Ms. Vinni Mehta. she is a Chartered Accountant by profession and a food blogger by passion. She love to read about food, experiment with food, capture food in images, and write about food and of course and the most to eat food, good food.

Vini Mehta

30/05/2020

https://www.taxinfo.in/post/pm-cares-has-been-added-to-csr-activities

G.S.R. 313(E).—In exercise of the powers conferred by sub-section (1) of section 467 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following further amendment to Schedule VII of the said Act, namely:— In Schedule VII, item (viii), after the words “Prime Minis...

23/05/2020

https://www.taxinfo.in/post/rbi-announced-additional-measures-to-fight-with-pandemic-covid19

Key Announcements by RBI Governer on 22/05/2020 1. *Term loan moratorium extended till August 31, 2020* - The loan moratorium will be extended till August 31, 2020. This makes it a six months moratorium. 2. *Deferement of Interest on Working Capital* - Interest on working capital is deferred by anot...

22/05/2020

What makes world class is so much less about genetics and mostly about your habits. yes its true... and many success stories speaks their own about it and implementation of right habit is what makes world class people. we have gone through many biography, and got one thing common every where is earl...