GST Registration
Complete Overview of GST Registration
RJA 25 Apr, 2021
PERSON LIABLE FOR GST REGISTRATION OR NOT Provisions on persons responsible for registering for GST are provided for. Under Section 22 & Section 24 the Central Goods and Service Tax Act (CGST) 2017, are provide and made the provision for GST registration explained by this article. Personal persons registered under Pre-GST law ...
INCOME TAX
Highlights of Faceless Penalty Scheme, 2021.- E-penalty or faceless penalty Scheme, 2021
RJA 22 Apr, 2021
Highlights of Faceless Penalty Scheme, 2021.- E-penalty or faceless penalty Scheme, 2021 CBDT Through Notification No. 03/2021 dated 12.01.2021 - has notified Faceless Penalty Scheme, 2021. to provide for the online imposition of e-penalty or faceless penalty by the Tax Authorities. This scheme shall become effective with effect from 13.01.2021. Salient features Faceless Penalty Scheme, 2021 ...
GST Filling
Extension of the due dates for different GST returns in April-2021
RJA 22 Apr, 2021
Extension of the due dates for different GST returns in April-2021 All India Traders' Confederation has demanded the enhancement in April-2021 of due dates in respect of the income tax and GST compliance. All the following compliance measures may lead to interest and late fees if not complied in time. ...
Income tax return
Can HRA & Home Loan Benefits be claimed when ITR is filing?
RJA 22 Apr, 2021
Can HRA & Home Loan Benefits be claimed when ITR is filing? Manny Employees earning a monthly income for both the House Rent Allocation (HRA) and home loans are often confused that they claim the income tax benefit on ITR furnishings. Based on rent, but payment for the domestic loan. ...
INCOME TAX
Document Required For Permanent Account Number (PAN) application
RJA 21 Apr, 2021
Document Required For Permanent Account Number (PAN) application Proof of Identity- Copy of following : Ration card having a photograph of the applicant; or Aadhaar Card issued by the Unique Identification Authority of India; or Elector’s photo identity card; or Pensioner card having a photograph of the applicant; or ...
One Person Company
WITHDRAWAL OR DEATH EITHER NOMINEE OR ITS MEMBER OF A ONE-PERSON COMPANY
RJA 08 Apr, 2021
WITHDRAWAL OR DEATH EITHER NOMINEE OR ITS MEMBER OF A ONE-PERSON COMPANY A one-person company is a company that has only one person its member. The one-person company is incorporated as a private company therefore all the provisions of a private company apply to the one-person company. NOMINEE OF A ...
One Person Company
CONVERSION OF ONE PERSON COMPANY INTO PUBLIC OR PRIVATE COMPANY OR VICE - VERSA
RJA 08 Apr, 2021
CONVERSION OF ONE PERSON COMPANY INTO PUBLIC OR PRIVATE COMPANY OR VICE - VERSA A one-person company is a company that has only one person its member. The one-person company is incorporated as a private company therefore all the provisions of a private company apply to one person company. CONVERSION ...
One Person Company
DOCUMENTS REQUIRED CLOSURE OF ONE PERSON COMPANY.
RJA 08 Apr, 2021
CLOSURE OF ONE-PERSON COMPANY A one-person company is a company that has only one person its member. The one-person company is incorporated as a private company therefore all the provisions of a private company apply to the one-person company. If one person company is inoperative for more than one year ...
FCRA
MHA extends FCRA registration certificates validity of NGOs till 31.05.2021
RJA 03 Apr, 2021
Ministry of Home Affairs extends FCRA registration certificates validity of NGOs till 31.05.2021 The Ministry of Home Affairs said that Non-governmental organization’s whose registration in accordance with the 2010 Foreign Contributions Act expired between Sept 29, 2020 — when notifying fresh amendments to the Act were filed and May 31, 2021, will now receive ...
FCRA
Frequently Asked Question on Fcra Registration
RJA 01 Apr, 2021
Frequently Asked Question on Fcra Registration Q.: What is FCRA stand for? FCRA stands for Foreign Contribution Regulation Act. Q.: Is the Reserve Bank of India (RBI) is governed by the FCRA? The FCRA is an internal security law that is not governed by the RBI. It is ...
Business Setup in India
Planning for start a Private Limited company ?
RJA 28 Mar, 2021
Business setting-up in India It is much easier to set up a business in India nowadays. Starting a business in India now takes less time than it did years ago. A company can be registered in any part of India in just over 5 weeks. The time spent on company registration ...
ROC Compliance
E-KYC, Aadhaar, Linking required for Existing GST Taxpayers
RJA 15 Mar, 2021
GST Portal allowed e-KYC/ Aadhaar/Linking for Present GST Taxpayers The GST Portal has allowed Aadhaar Authentication/E-KYC on the GST Portal for Existing Taxpayers. Performance for Aadhaar Authentication and e-KYC where Aadhaar is not accessible has been dispatched to GST Common Portal w.e.f. 6 January 2021 for existing taxpayers. ...
COMPANY LAW
SHARE CAPITAL AND ACCOUNT, AUDIT & OTHER FEATURE OF A PRODUCER COMPANY
RJA 07 Mar, 2021
Normal characteristics of Producer Companies: Producer Company is always a Pvt Ltd company. The name of the Company shall end with “Producer Company Limited” which shall be stated in the MOA of Producer Company. There must be a minimum of Five directors & No need for Minimum Capital ...
COMPANY LAW
Annual Filing & Compliance of a Producer Company
RJA 07 Mar, 2021
Annual Filing & Compliance of a Producer Company A Producer Company is a business registered under the Company Act 2013 with the aim of producing, harvesting, promoting mutuality techniques, etc. Like other registered companies, a producer company also needs to file compliance on a fair and annual basis in order to ...
TDS
TCS on Tax Foreign Remittance Transactions under LRS
RJA 01 Mar, 2021
TCS on Tax Foreign Remittance Transactions under LRS Forex Facility for Residents – $250,000 per FY Under Liberalised Remittance Scheme (LRS) Scheme of LRS The Foreign Exchange Management Act, 1999 (FEMA) limits forex transactions to the limit permitted by its regulations. RBI Regulations apply to the LRS. Indian residents are permitted ...
GST Compliance
Option to upload e-KYC documents or authenticate your Aadhar card On the GST Portal
RJA 01 Mar, 2021
Now you have the option to upload e-KYC documents or authenticate your Aadhar card On the GST Portal, What is Aadhaar Authentication, and how does it work? Aadhaar authentication is the process of submitting the Aadhaar number, along with other biometric details, to the Central Identities Data Repository (CIDR) for ...
OTHERS
Basics of RoDTEP Scheme – Remission of Duties or Taxes on Export
RJA 19 Feb, 2021
RoDTEP Scheme: The Govt of India announced the Remission of Duties & Taxes on Export Product (RoDTEP) Scheme, which is a combination of 2 existing GOI schemes, including MEIS (Merchandise Export from India Scheme) and RoSCTL (Rebate of State & Central Taxes and Levies Scheme) to ensure compatibility with the World ...
OTHERS
Govt has introduced legislation to ban crypto-currency in India
RJA 13 Feb, 2021
What's Cryptocurrencies-Bitcoin? Bitcoin is a cryptocurrency invented by a few unknown groups of people. You can buy or sell bitcoins on a bitcoin exchange. The currency is not controlled by any bank or government. Blockchain is the leading technique behind bitcoin and other cryptocurrencies. It's a public ...
TDS
Higher Rates TDS/TCS on non filed the ITR on time.
RJA 07 Feb, 2021
Income Tax Return filing: Applicable of at higher rates TDS/TCS on non filed the ITR on time (New Section 206AB and Section 206CCA) A higher rate of TDS for Non-Filer of Income Tax Return has been implemented in Budget 2021. The Proposed Section: 1. Section 206AB was proposed in ...
GST Filling
No GST Audit needed in Budget 2021 : latest Update
RJA 07 Feb, 2021
No GST Audit Required in New Budget 2021 On 1 February 2021, Finance Minister Nirmala Sitharaman delivered the 2021 paperless budget. FM also announced several improvements to the tax system on goods and services to target helping small and medium businesses to overcome pandemic disruptions. Relevant GST changes carried out in the ...
COMPANY LAW
Govt introduces random e-scrutiny of corporate filings
RJA 06 Feb, 2021
MCA launch random e-scrutiny of corporate filings The Ministry of Corporate Affairs (MCA) is about to launch a random digital Scrutiny of company filings over the next year as it aims to use expert knowledge to enhance supervision and compliance, a senior official said. "The random sampling of ...
OTHERS
Highlights on key changes related to start-up Budget 2021
RJA 05 Feb, 2021
Brief Glance at key changes related to start-up Highlights Budget 2021's: The finance minister has announced the first-ever digital financial budget, and the finance minister's red cover tab had several offers for the business world, especially start-up businesses, this year. key changes related to start-up Highlights Budget 2021's: 1. Start-up ...
GST Compliance
Limitation on filing GSTR-1 along with no ITC claim for your Customers
RJA 04 Feb, 2021
100 percentage limitation to avail 'ITC', if No GSTR-1 is filed by the supplier Monthly GSTR-1 is due by 11th October With the deadline closing in, it’s time to file GSTR-1 for your clients and we can help you file them accurately while saving your time As per the ...
GST Filling
Input Tax Credit in GSTR-3B not to be exceed 105% of GSTR-2A
RJA 04 Feb, 2021
Claiming more than 105% of the ITC as shown in GSTR 2A may offer notice of revocation or cancellation of registration. If you assert the ITC in the GSTR 3B return for a sum that exceeds the specified limit as set out in Rule 36(4), we will inform you of the ...