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Vishnu Daya & Co LLP > Newsletter (Page 14)

Income Tax Return filing by Foreign Companies

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...

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Year end requirements FY 2021-2022

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....

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GST Update – E Invoice applicability from April 1, 2022

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...

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

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....

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Vishnu Daya- Budget Highlights 2022-23

We 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 1st February 2022. 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 summarise the key changes in simpler manner under this budget highlights. Trust the same would be found useful in understanding the taxation proposals....

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