In view of difficulties reported by the taxpayers and other stakeholders in electronic filing of Income-tax returns and various Reports of Audit, CBDT has extended time limits of certain compliances under Income Tax. Some of the important points are highlighted here: 1. Return of Income of Regular Assessees for the Assessment Year 2021-22 The due date of furnishing…
Read moreApplication Form to Vote By Post – Chartered Accountants Election
Application Form for permission to Vote By Post For A Member Eligible To Vote at a Polling Booth In India But Currently Abroad hosted by ICAI. Eligibility:For those Members Eligible to Vote at a Polling Booth in India but Currently Abroad. Mode of sending Application:The Application Can be sent from Registered e-mail id of the…
Read moreChartered Accountants Election – Extending postal voting facility
ICAI has extended Postal Voting Facility to Members who are entitled to vote by poll in India but have gone abroad and unable to return India due to Covid-19 Restrictions on or before the date of polling It has been decided to allow such members to vote by post subject to compliance with, inter alia,…
Read moreGST – Extension of Various Time Limits
1. Extension of Filing of FORM GSTR 3B/ GSTR 1/ IFF by companies using Electronic Verification Code (EVC) CBIC notifies the Central Goods and Service Tax (Seventh Amendment) Rules 2021 to further extend Filing of FORM GSTR 3B/ GSTR 1/ IFF by companies using Electronic Verification Code (EVC), instead of Digital Signature Certificate (DSC) to…
Read moreIncome Tax – Extension of time limits for electronic filing of various forms
In view of difficulties arising due to technical glitches in the Income Tax e-filing portal, CBDT has extended time limits for electronic filing of various Forms under Income Tax. 1. Furnishing of Form No. 10A The application for registration / intimation / approval under Section 10(23C), 12A, 35(1)(ii)/(iia)/(iii) or 80G of the Act in Form No. 10A required to…
Read moreChartered Accountants Election Rule Amended
Central Government has amended the rules of Chartered Accountants (Election to the Council) Rules, 2006. Some of the important amendments highlighted here. Option to Change Polling Booth in Same Region A member, whose name is borne on the Register on the 1st day of April of the financial year in which the election to the…
Read moreExtended period of modification of IEC till August 31, 2021 and waived Fee
The DGFT vide Notification No. 16/2015-2020 dated August 09, 2021 has further amended para 2.05(d) of Chapter-2 of Foreign Trade Policy, 2015-2020 to extend the period of updating/ confirming the details in Import Export Code (“IEC”).An IEC holder has to ensure that details in its IEC is updated electronically every year, during April-June period. However,…
Read moreDeduction of Tax at Source at a Higher Rate – Sec 206AB
Introduction of Section 206AB of Income tax Act 1961 effected Deduction of Tax at source at higher percentage from specified persons. Some of the highlights of the Provisions are summarised below. Effective Date: with effect from 1st July 2021. Applicability to Specified Persons:Specified Person – with respect to tax deductions Chapter XVIIB Not filed…
Read moreFlood Cess applicable up to 31st July, 2021
The Kerala Government has announced that the flood cess would be applicable till 31st July 2021.Government has directed the businesses to make necessary changes in their billing software accordingly.
Read moreConcurrent Audit SBI
SBI invited application for Chartered Accountant Firms for empanelment as Concurrent Auditors in the Bank branches / outfits. Application for Empanelment of Chartered Accountant Firms for Concurrent Audit” should reach the respective Circle Audit Office on or before 29.05.2021 by 5.00 P.M. Please find the link https://bank.sbi/webfiles/uploads/files_2122/17052021_ENGAGEMENT%20OF%20CHARTERED%20ACCOUNTANT%20FIRMS%20AS%20CONCURRENT%20AUDITORS%20IN%20SBI%202021-22.pdf
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