Taxonomy by CA Ankit Agarwal

asks ICAI to constitute a 7-member task force to look into technical glitches of New income tax portal

https://twitter.com/CNBCTV18Live/status/1407290045275414533?s=20

CNBC-TV18 on Twitter “. asks ICAI to constitute a 7-member task force to look into technical glitches of New income tax portal”

CBDT grants relaxation in electronic filing of forms 15CA & 15CB in view of difficulties reported by taxpayers in filing of forms online on the new e-filing portal http://incometax.gov.in. The forms can be submitted in manual format to the authorised dealers till 30th June, 2021.

Some of the most profitable insurers in India

ED issues show-cause notice to India's biggest crypto exchange WazirX’s directors Nischal Shetty and Sameer Mhatre
https://www.moneycontrol.com/news/business/ed-issues-show-cause-notice-to-wazirx-directors-nischal-shetty-and-sameer-mhatre-under-fema-7021191.html

ED Issues Show-cause Notice To Crypto Exchange WazirX’s Directors Nischal Shetty And Sameer Mhatre The Enforcement Directorate initiated the FEMA investigation on the basis of an ongoing money laundering probe into “illegal” Chinese-owned online betting applications

फूड बिजनेस ऑपरेटर्स के लिए 1 अक्टूबर से यह नियम होगा अनिवार्य, FSSAI का आदेश

- वर्तमान में, FSSAI नंबर को पैकेज्ड फूड लेबल पर प्रदर्शित करना अनिवार्य है, लेकिन यह समस्या विशेष रूप से रेस्टोरेंट, मिठाई की दुकानों, कैटरर्स, यहां तक कि खुदरा स्टोर जैसे प्रतिष्ठानों के मामले में आती है।

- किसी भी फूड बिजनेस ऑपरेटर का 14 डिजिट का FSSAI नंबर उपभोक्ता/सर्विस रसीद पर आसानी से दिखता या उपलब्ध नहीं होता है।

- इसकी वजह से उनके लिए किसी फूड बिजनेस ऑपरेटर की शिकायत करना मुश्किल हो जाता है।

खाद्य सुरक्षा नियामक FSSAI ने खाद्य व्यापार परिचालकों (फूड बिजनेस ऑपरेटर्स) के लिए इस साल एक अक्टूबर से नकद रसीदों या खरीद चालान पर FSSAI लाइसेंस नंबर या पंजीकरण संख्या का उल्लेख करना अनिवार्य किया है। भारतीय खाद्य सुरक्षा और मानक प्राधिकरण (FSSAI) ने इस संबंध में एक ताजा आदेश जारी किया है।

चूंकि विशिष्ट जानकारी की कमी के कारण शिकायतें अनसुलझी रहती हैं, इस कदम से उन उपभोक्ताओं को मदद मिलेगी, जो FSSAI नंबर का उपयोग करके किसी विशेष खाद्य व्यवसाय के खिलाफ ऑनलाइन शिकायत दर्ज कर सकते हैं।

Food safety regulator FSSAI has mandated food business operators to mention FSSAI licence or registration number on cash receipts or purchase invoice with effect from October 1 2021. The Food Safety and Standards Authority of India (FSSAI) has issued the latest order in this regard.

: El Salvador just voted and passed the bill to declare as legal tender. Stay tuned for more details.

moneycontrol on Twitter “ : El Salvador just voted and passed the bill to declare as legal tender. Stay tuned for more details. https://t.co/cveK6zZp1i”

As per the latest tweet from Infosys Co-founder Nandan Nilekani " The new e-filing portal will ease the filing process and enhance end user experience. we have observed some technical issues on day one, and are working to resolve them regrets these initial glitches and expects the system to stabilise during the week.

Tweet link : https://twitter.com/NandanNilekani/status/1402282445618094085?s=20

Cryptocurrency regulation in India: Infosys co-founder Nandan Nilekani endorses digital coins as asset class.

More details are available here :
https://www.moneycontrol.com/news/business/startup/cryptocurrency-regulation-in-india-infosys-co-founder-nandan-nikesan-endorses-digital-coins-as-asset-class-6996331.html

Cryptocurrency Regulation In India: Infosys Co-founder Nandan Nilekani Endorses Digital Coins As Asset Class In an interview with the Financial Times, Infosys co-founder and Aadhaar architect Nandan Nilekani endorsed the use of cryptocurrencies as an asset class.

📈 Capitalization of all world stocks reached $ 115.8 trillion (132% of world GDP).

New record 😅

Income tax efiling website is moving to new portal with all new look.

Are your a shareholder or a director of a company?

Ensure to file MCA forms on timely basis to avoid late fees & penalty.

If you have any queries regarding MCA filing feel free to contact @ + 91 8447302350.

Import Export Code requires renewal every year during April-June period. Failing to do so will result in deactivation of the IEC license.

If you have any queries regarding Import Export Code (IEC) renewal, kindly contact +91 8447302350

Follow our page today to stay updated with the compliances. 🤝

TATA CAR Vs TATA STOCK

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Extension in dates of various GST Compliances for GST Taxpayers :

Note the dates

Follow our page for more such updates.

Normally I don’t share an investment tip on social media, but will make an exception now.

Buy @ 102/-
Target 114-125/- 🚀

India’s GDP has contracted five times since 1947, but never as bad as 7.3%.

The Asian giant’s gross domestic product (GDP) has contracted by 7.3% in 2020-21 — and that’s the biggest dip India has seen since its independence in 1947. India’s GDP for 2020-21 has taken the biggest hit in the country’s history.

Do you know who rules the Health Insurance Market in India?

Here is the answer :

Do you know the state whose population is at the top when it comes to investing in the stock market?

Have a look :

The Reserve Bank of India (RBI) on May 31 clarified that banks and other regulated entities cannot cite its 2018 circular on cryptocurrencies as it has been set aside by the Supreme Court (SC) in March, 2020. The circular is not valid from the date of the SC order and cannot be cited or quoted from, the RBI said., the RBI said.

However, the central bank asked banks to carry out the necessary customer due diligence process in line with regulations governing standards for Know Your Customer (KYC), Anti-Money Laundering (AML), Combating of Financing of Terrorism (CFT) and obligations of regulated entities under Prevention of Money Laundering Act, (PMLA), 2002.

Also, banks need to ensure compliance with relevant provisions under Foreign Exchange Management Act (FEMA) for overseas remittances, the RBI said. The RBI circular, called Customer Due Diligence for transactions in Virtual Currencies (VC), came shortly after major Indian banks have started warning customers against using their services to trade in cryptocurrencies.

43rd GST COUNCIL MEETING DATED 28.05.2021

RATIONALIZATION IN LATE FEES : From May 2021 Return Onwards

43rd GST COUNCIL MEETING DATED 28.05.2021

AMNESTY SCHEME-RELIEF IN LATE FEES :

43rd GST COUNCIL MEETING DATED 28.05.2021

Various due dates that are been extended :

। । ेटफीस की फांस में उलझे छोटे कारोबारी एक और एमनेस्टी स्कीम की मांग कर रहे हैं

https://twitter.com/CNBC_Awaaz/status/1359869486682107911?s=20

CNBC-AWAAZ on Twitter “ । लेट फीस की फांस में उलझे छोटे कारोबारी एक और एमनेस्टी स्कीम की मांग कर रहे हैं ।देखिए की ये रिपोर्ट। htt...

Important Announcement - ICAI Chartered Accountants Intermediate, Final & PQC Examinations for May 2021 will now commence from Monday, 5th July 2021. Detailed Schedule / Notifications for the said Exams will be announced shortly.
Details
https://www.icai.org/post/exam-announcement-260521

Quick look at the list of compliances that have been extended

Statement of Financial Transactions :

Quick look at the list of compliances that have been extended

TDS Statement & Certificate :

Quick look at the list of compliances that have been extended

Due dates for Income Tax Return & Audit :

Today is last date to file GSTR 1 of April 2021 for registered taxpayers who opted out of QRMP

See below the due dates for reference.

Due Date of GSTR 1 for April 2021 is 26.05.2021
Due Date of IFF for April 2021 is 28.05.2021

Consequently, GSTR-2B for April 2021 will be generated after the Due dates, on 29th May 2021. Ensure timely filing of GSTR 1 before due dates.

LATE FEES RELIEF W.E.F 20TH APRIL, 2021 if the returns filed by :

More than 5 Cr : June 4 2021
Upto Rs 5 Cr with monthly option : 19.06.2021

There is a lot of confusion regarding due date of tax payment with respect to April 2021. Here are the details in easy way :

More than 5 Cr last date to pay GST without Interest : 20.05.2021
Up-to Rs.5.00 Cr. with monthly return filing : 04.06.2021
Up-to Rs.5.00 Cr. with quarterly return filing : 09.06.2021

Penalty for not linking PAN with Aadhaar by March 31:

This means that if a person fails to link PAN and Aadhaar by 31 March, they will be liable to pay a fee of Rs 1,000. This fee shall be in addition to the other consequences the person has to face if PAN becomes inoperative due to non-maintenance of Aadhaar.

Remember that having an Aadhaar card is not only mandatory to get a new PAN card, but it is also a compulsory requirement for the filing of income tax returns (ITR)

All Categories of Assessment/Re-Assessment Disposal Date Extended from 31st March 2021 Upto 30th June 2021.

From April 1 2021, Every company have to use accounting software which has audit trail, edit log

Attention GST Taxpayers whose aggregate turnover exceeds Rs.50 crore in a Financial Year!

Generating E-Invoice for B2B supply of Goods or Services or both is mandatory w.e.f April 01, 2021.

Two Significant Changes from 1st April 2021

1) E-invoicing

E Invoicing will be mandatory for business to business (B2B) transactions for taxpayers having turnover of over Rs 50 crore from April 1, 2021.

2) HSN Code

Taxpayers to mandatorily declare HSN codes in GST Tax Invoices from 1st April, 2021.

Taxpayers with Turnover upto Rs. 5 crores - HSN code 4 digits is mandatory for all the B2B invoices and optional for B2C invoices.

Taxpayers with Turnover more than Rs. 5 crores - HSN code of 6 digits is mandatory for both B2B and B2C tax invoices.

The Goods and Services Tax Network ( GSTN ) has directed the Taxpayers to IFSC Codes of eight banks due to merger. In a statement issued by GSTN said that, Taxpayers may update their Bank Account details through non-core Amendments and update refund application, in case failed due to validation error sent by PFMS.