Non-Banking Financial Companies (NBFCs) covered by Rule 4 of the Companies (Indian Accounting Standards) Rules, 2015 are required to comply with Indian Accounting Standards (Ind AS) for the preparation of their financial statements. In order to promote a high quality and consistent implementation as well as facilitate comparison and better supervision, the Reserve Bank has…
Government has issued various forms for GST related compliances to be made by taxpayers and for taking actions on them by Tax Officials. Various forms issued for registration, filing returns or refunds etc. have been made available on the GST Portal. To know about the details of GST Forms, made available for taxpayers and tax…
The Central Government has decided to introduce a scheme namely “LLP Settlement Scheme, 2020”, by allowing a One-time condonation of delay in filing statutorily required documents with the Registrar. LLPs, that wish to avail themselves of the scheme, may file the pending documents/Forms and make good the defaults, to gain immunity from prosecutions for such…
F.No.275/19212019-IT(B) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi the 5th March, 2020 CORRIGENDUM TO CIRCULAR NO.4 OF 2020 DATED 16.01.2020 Subject: Income-Tax Deduction from Salaries during the Financial Year 2019-2020 under Section 192 of the Income-Tax Act, 1961 – regarding. In Circular No.04/2020 dated…
The Ministry of Corporate Affairs (MCA) Govt. has exempted Banking Companies from the application of Sec. 5 and 6 of the Competition Act, for a period of 5 years, w.e.f. date of publication in Official Gazette. BankingNotification_11032020
In a Circular issued by MCA said that, In continuation of the Ministry’s General Circular No. 14/2019 dated 27 November 2019 and after due examination, it has been decided that the time limit for filing of Form NFRA-2, for the reporting period Financial Year 2018-19′ will be 150 days from the date of deployment of…
LLP settlement Scheme, 2020 launched to provide One-time relaxation in additional fees to defaulting LLPs to make good their default by filing pending documents . Applicability: This scheme is applicable on the defaulting Limited Liability Partnership means and LLP which has made default in filing of documents on the due date(s) specified under the LLP…
Government of India vide Notification No. 07/2020 – Central Tax, dated 03rd February, 2020, has staggered filling of Form GSTR-3B, for the month of February 2020, in the manner as given below Sl. No Taxpayers with aggregate turn over (PAN based) in the previous financial year Taxpayers having principal place of business in the State/…
