MCA vide Notification dated 27th October 2023 has introduced Prospectus and Allotment of Securities Second Amendment Rules, 2023 (“The Rules”). The salient requirements of the above-referred rules are as under: 1. The Private company’s shares shall be converted into Demat form within 18 months from the end of the Financial year 31/03/2023, which is on or before September 30, 2024. ...
Continue readingWe are delighted to provide you an analysis of the Union Budget presented by the Union Finance Minister Ms. Nirmala Sitharaman in the Lok Sabha on 23rd July 2024. We have provided you an executive summary as well as the detailed analysis of all the direct and indirect tax proposals. We have made our best effort to summarize the key changes in simpler manner under this budget highlights. Trust the same would be found useful in understanding the taxation proposals....
Continue readingWe present a compliance calendar for the due dates in the month of July 2024 covering the major due dates in Direct Taxes, Indirect Taxes and Companies Act....
Continue readingPursuant to the 53rd GST Council Meeting held on 22.06.2024, the CBIC has issued several clarifications clarifying various issues related to GST. The summary of the clarifications is available in the attachment. Please click the below link to read / download the attachment. Kindly reach us if you need any clarifications on the matter....
Continue readingPursuant to the 53rd GST Council Meeting held on 22.06.2024, the CBIC has issued several clarifications clarifying various issues related to GST. The summary of the clarifications is available in the attachment. Please click the below link to read / download the attachment. Kindly reach us if you need any clarifications on the matter....
Continue readingThe GST Council held it’s meeting on 22nd June 2024. Following key recommendations are made by the Council: 1. Interest and penalty waiver for the fiscal years 2017-18, 2018-19 and 2019-20, if the full tax demanded is paid upto 31.03.2025. 2. Reduction of the quantum of pre-deposit required to be paid for filing of appeals under GST. 3. Recommends certain exemptions related to accommodation services, providing relief to students and working professionals. 4. Clarification regarding valuation of supply of import of services by a related person where recipient is eligible to full input tax credit. 5. Clarification on valuation of corporate guarantee provided between related persons after insertion of...
Continue readingWe present a compliance calendar for the due dates in the month of June 2024 covering the major due dates in Direct Taxes, Indirect Taxes and Companies Act....
Continue readingWe are pleased to present our monthly newsletter for the month of May 2024...
Continue readingSection 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 application money) issued by...
Continue readingWe present a compliance calendar for the due dates in the month of May 2024 covering the major due dates in Direct Taxes, Indirect Taxes and Companies Act....
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