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Vishnu Daya & Co LLP > NewsletterAlerts (Page 7)

Due date for filing of Form 61A for Reporting Year 2022-23 is 31st May 2023

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 application money) issued...

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Due date of Form 10BD / Form 10BE is 31st May 2023.

One of the compliances to be made by a charitable organisation or an institution such as trust, research institutions, colleges, universities or other institutions is to file Form 10BD and issue a Form 10BE certificate to the Donor. CBDT issued a Notification no. 19/2021 dated 26th March 2021 prescribing a Form 10BD to be filed by institutions providing specific details of the donations made by the donors. After filing a statement of donations in Form 10BD, the institution has to download the certificate in Form 10BE certificate of donation and provide the same to the donors. The due date for...

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Compliances related to Companies Act, 2013 for April 2023

The following compliances related to Companies Act, 2013 for April 2023 (part of Q1 FY23-24) are to be complied with: 1. MSME-1 filing. The last date for filing MSME-1 for FY2022-23 October 1, 2022 to March 31, 2023 is 30th April, 2023. 2. Declaration of Directors. Form MBP-1 & DIR-8 is required from all Directors. 3. Templates for First Board Of Directors meeting 4. Statutory Register at Registered office. As per the Companies Act, 2013, every company is required to maintain various registers and records, mainly the Statutory Register. The Statutory Register contains important information about the company and its shareholders, directors, and other...

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IEC Updating requirement _ Notification 58/2015-2020

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. ...

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Taxation of Income from Royalty / FTS in hands of Non-Residents

One of the key and major amendment introduced while passing the Finance Bill, 2023 by Lok Sabha on 24th March 2023 and as approved by Parliament on 27th March post assent of the Hon'ble President on 31st March 2023 is Section 115A. Section 115A is amended to tax non-resident on royalty or Fees for Technical Service at 20% (Plus applicable Cess and surcharge) with effect from 01st April 2023....

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