Under GST Law, Export of goods or services can be made without payment of integrated tax under the provisions of rule 96A of the Central Goods and Services Tax Rules, 2017 (the CGST Rules). Under the said provisions, an exporter is required to furnish a bond or Letter of Undertaking (LUT) to the jurisdictional Commissioner […]
What is Letter of Undertaking (LUT) and How to Renew ? Read More »
A Legal Entity Identifier (or LEI) is a 20-character identifier that identifies distinct legal entities that engage in financial transactions. Which Company Required LEI Code ? It has been decided to require banks to make it mandatory for corporate borrowers having aggregate fund-based and non-fund based (Term Loan, Cash Credit Limit, Letter of Credit Limit
What is the Legal Entity Identifier (LEI) code? Read More »
TDS stands for tax deducted at source. As per the Income Tax Act, any company/bank or person making a payment is required to deduct tax at source if the payment exceeds certain threshold limits. TDS has to be deducted at the rates prescribed by the tax department. TDS is basically a part of income tax.
What is the TDS ? TDS kya hota hai ? Read More »
Every company is required to prepare financial statement for period ending 31st March every year. Such financial statement must be give a true and fair view of the state of affairs of the company and comply with the accounting standards notified by the central government under Section 133 of the Companies Act. Such financial statement
What is the Statutory Audit? Read More »
The major changes and amendment of Income Tax in Internal Budget 2019-20 as below :-
Income tax changes in Internal Budget 2019-20 Read More »
1) Statutory audits 2) Internal audits 3) Cost Audit 3) Secretarial Audit Statutory audits Who can conduct the audit – Statutory audit has to be conducted by a Chartered Accountant or a firm of Chartered Accountant. Scope of Audit – Audit of the financial record and statement of the company. Auditor is required to comply with Auditing Standards
Types of Audits under the Companies Act, 2013. Read More »
Form MSME-1 (One-time return as at 22.01.2019)- Due date is 30.05.2019. LLP Form – 11 (Annual Return)- due date is 30.05.2019. Form INC-22A (Active) due date is 15.06.2019 Form DPT-3 (One Time Return as at 31.03.2019) due date is 29.06.2019 Form DIR-3 KYC (For DINs alloted till 31.03.2019) – due date is 30.06.2019
Summary of important date for ROC compliance in coming days : Read More »
It is a tax levied by the Government of India on the income of every person. The provisions governing the Income-tax are covered in the Income-tax Act, 1961.
What is Income Tax ? Read More »
What is the diffreance between Form 15G and Form15H? Timing of Forms Deposit ? Form 15G and Form 15H are valid for one financial year i.e from 1st of April to 31st March. So the person has to submit the form every year, provided one is eligible. Submission of the same as soon as the
What is Form 15G and Form 15H? Read More »
