03 May

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Due date for filing of Form 61A for Reporting Year 2024-25 is 31st May 2025

Section 285BA of the Income-tax Act, 1961 and Rule 114E requires specified reporting persons to furnish statement of financial transaction. Below is the list of the reportable transactions: • Receipt from any person of an amount aggregating to 10 lakh rupees or more in a financial year for acquiring bonds or debentures issued by the company or institution (other than the amount received on account of renewal of the bond or debenture issued by that company). • Receipt from any person of an amount aggregating to 10 lakh rupees or more in a financial year for acquiring shares (including share...

30 April

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IEC Updating requirement – Notification 58/2015-2020

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Please note that the DGFT has issued a notification with respect to ‘requirement for renewal of IEC’ each year. Accordingly, An IEC holder has to ensure that the details in its IEC is updated electronically every year, during April-June period. In cases where there are no changes in IEC details, the same need to be confirmed by the IEC holder online. ...

10 April

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Last date for payment of the Professional Tax Annual Fee and filing of the Return is 30th April 2025

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This is to bring to your kind attention that 30th April 2025 is the last date for payment of the Professional Tax Annual Fee and filing of the Return. All GST registered employers are required to pay Rs. 2,500/- per unit towards Professional Tax on or before the due date. Timely compliance will help avoid penalties and ensure smooth statutory adherence. For any clarifications, please contact Ms. Gayathri Giri at 9008718388 or email her at [email protected]. We will be happy to assist you....

10 April

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Last date for payment of the Professional Tax Annual Fee and filing of the Return is 30th April 2025

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09 April

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Last date for payment of the Professional Tax Annual Fee and filing of the Return is 30th April 2025

Posted by Vishnu Daya

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02 April

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Secretarial Compliances_April 2025

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Mandatory Secretarial Compliances for April 2025...

01 April

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Revised Classification Limits for MSME Sector

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The Micro, Small and Medium Enterprises Development Act (MSMED), 2006 was enacted to support the creation and development of MSMEs. In the Union Budget 2025, Finance Minister Nirmala Sitharaman announced a major update to the New MSME classification, increasing the investment limit by 2.5 times and doubling the turnover limits. The revised MSME criteria comes into effect from April 1, 2025. In light of this revised MSME classification thresholds, companies and businesses engaged in transactions with MSMEs must be particularly mindful of the updated limits. This is crucial due to the provisions of Section 43B(h) of the Income Tax Act, 1961,...

27 March

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Year end requirements FY 2024-2025

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Year end requirements FY 2024-2025 As the financial year 2024-2025 is coming to an end, there are certain statutory requirements which need to be addressed within 31.03.2025. Among them the following points which should be focused on priority basis: 1. Stock verification 2. Income tax related compliance 3. Tax deducted at source 4. Company law related compliance 5. Micro, Small and Medium Enterprises (MSME) related compliance 6. GST Compliances 7. Others...

19 March

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Last date for filing revised ETDS/ ETCS return upto FY 2018-19 is 31st March 2025

Posted by Vishnu Daya

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As per amendment in section 200(3) of the Income-tax Act vide Finance Act, (No. 2) 2024, no correction TDS/ TCS statement shall be filed after the expiry of six years from the end of the financial year in which the statement referred to in sub-section (3) is required to be filed. In view of the above, correction statements pertaining to Financial Year 2007-08 to 2018-19 shall be accepted only up-to 31st March 2025. Please take a note of this and take actions to close the pending ETDS returns. If there are any past demands in the earlier years from 2007-08...

19 March

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