20 April

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Due date for filing form MSME-1 is 30th April, 2022

MSME-1 form is released from MCA portal today for the half year - 1st October, 2021 to 31st March, 2022. The last date for filing form MSME-1 is 30th April, 2022. There is no filing fees for this filing. Applicability of filing of e-form MSME-1 is as follows:  A company which fulfils the below mentioned checkpoints, then such a company needs to file an e-form MSME-1:  Company is having MSME registered vendors;  Company made payment to such MSME vendor after 45 days from date of acceptance of goods/services during the half-year; Please feel free to contact us for any clarifications or...

11 April

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Vishnu Daya Newsletter – April 2022

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We are pleased to present our monthly newsletter for the month of April 2022....

04 April

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MCA Extends date for confirming audit trail use in Auditors report and due date for filing Form CSR-2

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MCA amends Companies (Accounts) Rules, 2014 to inter alia provide that: - The effective date for using accounting software which has a feature of recording ‘audit trail’ of each and every transaction has been extended form April 1, 2022 to April 1, 2023. - The due date for separate filing of Form CSR-2 (CSR Report) for financial year 2020-21, has been extended from March 31, 2022 to May 31, 2022. ...

28 March

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Income Tax Return filing by Foreign Companies

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Foreign Companies who have earned taxable income in India for the period 01st April 2020 to 31st March 2021, are required to file the return of Income in India if the tax is withheld at the rates prescribed as per Double Taxation Avoidance Agreement (DTAA). The filing of the Income Tax Return is not applicable if the tax is withheld at the rates prescribed as per Indian Income Tax Act. The due date for filing the return of income for the Financial Year 2020-21 was 15th March 2022. However, if the return has not been filed within the due...

28 March

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Year end requirements FY 2021-2022

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As the financial year 2021-2022 is coming to an end, there are certain statutory requirements which need to be addressed within 31.03.2022. 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 Please find attached a detailed note in this regard....

21 March

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GST Update – E Invoice applicability from April 1, 2022

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This is to inform you that CBIC made E-invoice under GST mandatory for registered persons having aggregate turnover above ₹20 crore in any of the previous years from 2017-18 till 2021-22 with effect from 01st April, 2022. The existing limit of ₹50 crores has been reduced to ₹20 crores vide Notification No. 01/2022 – Central Tax issued on 24th February, 2022...

21 March

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GST Update – E Invoice applicability from April 1, 2022

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CBIC made E-invoice under GST mandatory for registered persons having aggregate turnover above ₹20 crore in any of the previous years from 2017-18 till 2021-22 with effect from 01st April, 2022. The existing limit of ₹50 crores has been reduced to ₹20 crores vide Notification No. 01/2022 – Central Tax issued on 24th February, 2022. ...

12 March

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Vishnu Daya Newsletter – March 2022

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We are pleased to present our monthly newsletter for the month of March 2022. ...

03 March

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Due Date for Payment of Advance Tax is 15th March 2022

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This is to bring to your kind attention that the due date for payment of fourth and final instalment of advance tax (100%) for the financial year 2021-22 is 15.03.2022. Kindly take necessary actions to make the payment within the due date. For taxpayers opting for Presumptive Taxation Scheme under section 44AD & 44ADA, 100% advance tax need to be paid on or before 15th March 2022 (4th quarter) Kindly let us know for any help or clarifications in this regard....

23 February

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