P C A and Co. - Chartered Accountants

Welcome 2024!

May Dhanteras bless you with prosperity, wealth, and joy. May the light of wisdom lead you to a brighter future.

Happy Dhanteras!

Income Tax Department launches Demand Facilitation Centre (DFC) to facilitate resolution of Outstanding Tax Demand.

What do you think about this step?

Amnesty scheme against GST demand orders
Finance ministry on Thursday introduced an amnesty scheme for filing appeals against GST demand orders.

The scheme will be open until January 31, 2024, and applies to entities that were unable to submit appeals against tax officer orders before March 31, 2023, according to the notification of the Central Board of Indirect Taxes and Customs (CBIC).

Previously, the GST law allowed a three-month window, extendable by one month, to file appeals against assessment orders. The scheme requires a pre-deposit of 12.5% of the tax demand, compared to the current 10%. This will benefit taxpayers who missed the previous appeal deadline.

Responding to the development, Ankur Gupta, Practice Leader - Indirect Tax at SW India, said, “...Even the high courts (in absence of Tribunal) had taken varying positions whether appeals can be accepted beyond statutory timelines. This amnesty scheme provides relief to all such taxpayers, provided the adjudication order was passed before 31-03-2023.”

Source:https://www.newindianexpress.com/business/2023/nov/04/amnesty-scheme-against-gst-demand-orders-2629968.html

शुभ नवरात्रि!!

United India 🇮🇳

Be the Change you want to see in the World.

"🌺 On this auspicious occasion of Ganesh Chaturthi, may Lord Ganesha bless you and your family with prosperity, wisdom, and success. May the divine presence of Lord Ganesha fill your home and heart with joy and harmony. Happy Ganesh Chaturthi from all of us at P C A and Co. 🐘🙏 "

CBDT extends due date for filing of Form 10B/10BB for FY 2022-23 to 31.10.2023.

Due date for furnishing of ITR in Form ITR-7 for the AY 2023-24 also extended to 30.11.2023.

Team P C A and Co. Wishing you Happy Raksha Bandhan🎈

May this Raksha Bandhan bring a renewed sense of protection, prosperity, and positivity to you and your loved ones. 🩶



Design credit:

Chandrayaan-3 Mission:
'India🇮🇳,
I reached my destination
and you too!'
: Chandrayaan-3

Chandrayaan-3 has successfully
soft-landed on the moon 🌖!.

Congratulations, India🇮🇳!




Thank you .in we are proud of you

Independence lies in mindset.

We pay tribute to APJ Abdul Kalam, the Missile Man of India and the 11th President of India on the 8th death anniversary. His life and work are a true inspiration to us all, and his legacy will live on for generations to come.

Happy Guru Purnima!

Today, we celebrate the day of the guru, or teacher. Gurus are those who guide us on our spiritual and personal journeys. They teach us about life, love, and everything in between.

Happy CA Day

Why to file ITR:

• Compliance with the law
• Claim tax refunds, In case of TDS > Tax Due
• Carry forward of losses
• Ease while applying for loans and visas
• Avoiding interest and penalties
• Building financial history and credibility

“There is no path to happiness, happiness is the path”

Buddha

Srinivasa Ramanujan Aiyangar (1887-1920) Brilliant Indian Mathematicians

जगगुरु आदि शंकराचार्य जयंती पर शत-शत नमन 🙏

May this Eid bring you and your loved ones happiness, prosperity, and blessings. Enjoy the festivities and have a wonderful time with your family and friends.

"A life of Joy and happiness is possible only on the basis of knowledge and science."

Dr. Sarapalli Radhakrishnan

The Constitution of Bharat is its soul and to understand it, all the Bhartiya need to educate themselves, gain knowledge, and understand your constitutionals not only rights but also duties then we will move forward towards a great nation.

On this occasion, we at P C A and Co. are committed to Educating the Citizens and bringing awareness, what about you?
We believe a step with a person is also a bold step.

श्रीं हनुमान जन्मोत्सव की हार्दिक शुभकामनाएँ 🙏

Last chance to link PAN-Aadhaar
30 June 2023

IF NOT LINKED, PAN WILL BE INOPERATIVE AND
1. No refund shall be made against such PANs;
2. Interest shall not be payable on such refund for the period during
which PAN remains inoperative; and
3. TDS and TCS shall be deducted /collected at higher rate, as provided in the Act.

The PAN can be made operative again in 30 days, upon intimation of Aadhaar to the prescribed authority after payment of fee of Rs. 1,000.

Persons who have been exempted from PAN-Aadhaar linking:
1. Those residing in specified States, (Meghalaya, Assamn & J&K)
2. Non-resident as per the Act,
3. Individual who is not a citizen of India or
4. Individuals of the age of eighty years or more at any time during the previous year.

In order to provide some more time to the taxpayers, the date for linking PAN & Aadhaar has been extended to 30th June, 2023

Shaheed Diwas is a day of national importance observed in India on March 23 every year to pay tribute to the bravehearts who sacrificed their lives for the freedom of India.

On this day in 1931, three brave Indian freedom fighters - Bhagat Singh, Sukhdev Thapar, and Shivaram Rajguru - were hanged to death by the British colonial rulers for their role in the Lahore Conspiracy Case.

प्रथम महीना चैत से गिन
राम जनम का जिसमें दिन।।

द्वितीय माह आया वैशाख।
वैसाखी पंचनद की साख।।

ज्येष्ठ मास को जान तीसरा।
अब तो जाड़ा सबको बिसरा।।

चौथा मास आया आषाढ़।
नदियों में आती है बाढ़।।

पांचवें सावन घेरे बदरी।
झूला झूलो गाओ कजरी।।

भादौ मास को जानो छठा।
कृष्ण जन्म की सुन्दर छटा।।

मास सातवां लगा कुंआर।
दुर्गा पूजा की आई बहार।।

कार्तिक मास आठवां आए।
दीवाली के दीप जलाए।।

नवां महीना आया अगहन।
सीता बनीं राम की दुल्हन।।

पूस मास है क्रम में दस।
पीओ सब गन्ने का रस।।

ग्यारहवां मास माघ को गाओ।
समरसता का भाव जगाओ।।

मास बारहवां फाल्गुन आया।
साथ में होली के रंग लाया।।

बारह मास हुए अब पूरे।
छोड़ो न कोई काम अधूरे।।

जय श्री राम
नववर्ष की हार्दिक शुभकामनायें

Read the latest article on "Loan to Directors"

Section 185 of the Companies Act, 2013, deals with loans and investments made by a company to its directors. It lays down certain restrictions and conditions that must be followed by the company while granting loans, guarantees or securities to its directors or any other person in whom the director is interested. The provision aims to ensure that the directors of a company do not take undue advantage of their position and use the company's resources for their personal benefit, which may be detrimental to the interests of the company and its shareholders. Along with prohibitions, section 185 also provide relaxation and exceptions to advance any loan as well.

Loan to Directors - decoding Sec. 185 Section 185 of the Companies Act, 2013, deals with loans and investments made by a company to its directors. It lays down certain restrictions and conditions that must be followed by the company while granting loans, guarantees or securities to its directors or any other person in whom the director....