Income Tax
The Importance of Audit Trail and Documentation
In today's fast-paced business environment, maintaining robust audit trails and comprehensive documentation is more critical than ever. For organizations of all sizes, these practices...
Finance
The Gamification of Finance: How Apps are Changing the Way We Save, Invest, and Spend
In recent years, financial technology (fintech) has revolutionized the way people manage their money. Among the many innovations reshaping personal finance, gamification stands out...
Latest Articles
Income Tax
Supreme Court Ruling on applicability of PF on allowances
Background
The Supreme Court verdict dated 28 February 2019 in the case of Regional Provident Fund Commissioner West Bengal v. Vivekananda Vidayamandir and others reiterated...
Income Tax
Salient features of Banning of Unregulated Deposit Scheme Ordinance, 2019 restricting acceptance of loans & deposits from any person other than relatives
Ministry of Law and Justice notified The Banning of Unregulated Deposit Schemes Ordinance 2019 vide notification published in official Gazette on 21st February 2019. It...
Income Tax
KYC for Companies to be filed with Registrar latest by 25th April, 2019 as notified by MCA
Ministry of Corporate Affairs (MCA) has introduced KYC of Companies by inserting Rule 25A under Companies (Incorporation) Rules, 2014. This has been notified by MCA vide notification dated...
GST
GST Update – Circulars issued by CBIC related to returns & invoices
GST Policy Wing, CBIC has issued three circulars on 18th February, 2019 as listed below in brief.
Circular No. 90/09/2019 – GST dated 18-02-19:
All registered...
Startups
Norms for Angel tax relaxed; no tax on issuance of shares up to Rs. 25 crore
The Department for Promotion of Industry and Internal Trade (DPIIT) has issued a new notification in supersession of its earlier notification no. GSR 364(E),...
Company Law and IBC
Penalty u/s 271I – Non furnishing of Form 15CA and Form 15CB
Notice u/s 271I states that if the assessee has failed to furnish information or has furnished inaccurate information u/s 195(6) in form of filing of...
GST
Representation against contention of GST Department for interest liability u/s. 50 on ITC component
A recent “Standing Order” No.01/2019 issued by the Principal Commissioner of Central Tax, Hyderabad on 04-02-2019, instructs GST Tax Officials and field formation Officers to inquire into...
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