Extension of Audit Trial Implementation and Due date of Filing Form CSR 2

MCA vide notification dated 31-03-2022 has extended the implementation of Audit Trial and Due date of Filing Form CSR 2. The New Time limits are as follows: Implementation of Audit Trial – From 01st April 2023 onwards ( Previously 01st April 2022) Due Date of Filing Form CSR 2 (Report on CSR) for Financial year…

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Late fees for Delayed/Non linking of PAN with Aadhaar

CBDT vide notification Number 17/2022 Dated 29-03-2022 has notified late fee for Delayed/Non linking of PAN with Aadhaar. The due date for such linking is 31-03-2022 and if a person intimates his Aadhaar number after the due date, then he shall be liable to pay a fee of: Rs. 500, if such intimation is made…

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Condonation of Delay – Filing Form 10-IC For A Y 2020-21

CBDT vide Circular No 6/2022 Dated 17th March 2022 has decided to Condone the delay in Filing form 10-IC for the AY 2020-21 (First Year of Filing of this Form.) As per Section 115BAA a Domestic Company has an option to pay tax at a concessional Rate of 22% subject to satisfaction of certain condition….

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ITR Verification for AY 2020-21

The CBDT has given a last opportunity to taxpayers to verifiy/e-verify ITRs filed for AY 2020-21 and last date for the same is 28th February 2022.

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GST – E invoicing Limit Reduced to 20 crore w.e.f. 01-04-2022

The Central board of Indirect Taxes and Customs vide notification No 01/2022 dated 24-02-2022 has reduced the threshold limit of E invoicing to Rs. 20 Crore. [Earlier 50 Crore] w.e.f. 01-04-2022. It is mandatory to issue E Invoice for registered person  having aggregate  turnover above ₹ 20 crores with effect from 1st April 2022. For…

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FAQ on UDIN – Revised 2022

The Institute of Chartered Accountants of India has published Revised Edition of FAQ on Unique Document Identification Number (UDIN) in January 2022. For the Revised Edition of FAQ on UDIN, Click below:-

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AOC-4 & MGT-7/7A – Relaxation on Levy of Additional Fees Extended

The Ministry of Corporate Affairs has made relaxation on levy of additional fees up to 15-03-2022 (Earlier 15-02-2022) in the filing of following e-forms for the financial year ended on 31-03-2021: AOC-4     2. AOC-4 (CFS)     3. AOC-4 XBRL     4. AOC-4 Non-XBRL and Relaxation on levy of additional fees up…

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Guidance Note on Audit of Banks – 2022 Edition

Auditing and Assurance Standards Board of ICAI has brought out the revised edition of Guidance Note on Audit of Banks 2022. For the complete Guidance Note on Audit of Banks (2022 Edition), click on the following link:https://www.icai.org/post/guidance-note-on-audit-of-banks-2022-edition

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Finance Bill 2022

Hon’ble Union Finance Minister Smt. Nirmala Sitharaman introduced the Finance Bill 2022 in Parliament on 01st February 2022. For the Finance Bill 2022, Click on the link Below

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Key Highlights – Union Budget 2022

Union Finance Minister Nirmala Sitharaman introduced the Finance Bill 2022 in Parliament on 01st February 2022. The Following are the Key Highlights of Union Budget

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