Tax & Statutory & Compliance Calendar for June 2022 S. No. Statue Under Which Period Of Compliance Filling Purpose Timeline Date Particular of Compliance Details 1 Goods and Services Tax May-22 GSTR -7 Tax deducted at source return under Goods and Services Tax 11-Jun-22 GSTR -7 is a return to be filed by the …
Delays in delivery after the E-Way Bill has lapsed would not be considered GST evasion. The Supreme Court has ruled that non-delivery of goods within the validity period of an e-way bill, as well as non-extension of an e-way bill, does not always imply tax evasion, especially where the delay is caused by external reasons. …
Relaxation in paying additional fees in LLPs Filling MCA has made Relaxation in payment of additional fees in case of late in filling all the e-forms by LLPs which are due on and after 25th Feb, 2022 to 31st May, 2022 up to 30th June,2022 This issues with the approval of the relevant authority . …
What is logic behind Forming a Hindu Undivided Family to Save Tax ? The main reasons for joining the Hindu Undivided Family to save money on taxes is to lawfully obtain an extra Permeant Account Number (PAN) card. Because the Family’s income is not taxable in the hands of any single individual, the Hindu Undivided …
Essential NBFC Compliance Checklist NBFCs are the most popular kind of financial institutions in India, and they provide a substantial portion of the country’s GDP growth. It is just as necessary to secure an NBFC licence before starting an NBFC as it is to follow up with the NBFC annual compliance checklist. In case Company …
Overview on Corporate Restructuring & Distressed Asset Investing When we talk about India, how we can forget that India is one of the nation, that experienced the bull market for the longest time among the world’s largest leading markets, However, one outcome of the extreme uncertainty and volatility of the market is the opportunity to …
Significance of Business Valuation for Companies Every business owner should ask yourself one question. “What is the worth of your company in the open market?” Business Valuation is necessary to know about your company’s actual value or Fair value as it helps to understand, what your situation is? and where you stand in terms …
Major Changes in GST by Finance act 2022 It’s harder to avail Input Tax Credit: A new clause (ba) has been inserted in section 16(2) stating that ITC in respect with an Invoice can only be availed if such ITC has not been restricted in detail communicate to buyers in form of auto generated …
INCOME TAX BENEFIT ON INVESTMENT IN STARTUPS U/S 54GB Section 54GB of the Income Tax Act exemptions on capital gains from the sale of residential property if the proceeds are invested in startup firm equity shares. This exemption was created to provide assistance to an individual or HUF that want to establish or start a …
CSR EXPENDITURE BY CORPORATES Companies that are subject to CSR provisions are required to spend at least two percent (2%) of their average net profits made during the three (3) immediately preceding financial years on CSR activities as specified in Schedule VII of the Act and in accordance with the Company’s CSR Policy, according to …