VyaparHelp

15/08/2021

05/05/2021

updated as of 5th may'2021

01/03/2021

Important message: the business support lines for RNA/Vyapar Help/Media reporting on number #9873507148 is currently unavailable due to downtime. All calls are routed to company landline +911204956866.
Regret for inconvenience.our technical team is working to restore services.

25/10/2020

As per GeM GTC, all Sellers on GeM are now required to deposit a Caution Money with GeM. The details of the Policy can be viewed in GeM GTC (Clause 27). This caution money provision is being introduced for bringing discipline amongst sellers and the amount can be forfeited in part or in full (as per approval of CEO (GeM)) in following circumstances:

A. Seller rejects or does not accept any Direct Purchase / L-1 Purchase order within defined timelines leading to order auto cancellation.
B. Failure of the seller in executing any GeM contract or if the Seller fails or neglects to observe or perform any of his obligations under the contract (applicable only in respect of contracts that did not have provision of Performance Security / PBG).
C. Withdraws any bid submitted on GeM within the period of validity of the bid.
D. Fails to furnish requisite performance security / PBG as per GeM e-bid / RA conditions.

25/10/2020

When Does A Director’s Disqualification Occur?

Companies Act, 2013, under Section 164 enumerates the reasons for disqualification of a company director. On one hand, Section 164(1) deals with disqualification that arises out of personal reasons, but on the other, Section 164(2) is completely in contrast where a director shall be disqualified for the failures of the company.

Section 164(1) mandates that a director shall attract disqualification if he is of unsound mind, or insolvent, or has been convicted for more than 7 years, has been convicted under section 188, or a Court or Tribunal has disqualified him, etc.

Section 164(2) states that a director shall be disqualified if the company has not filed financial statements, or annual returns for a continuous period of three financial years; or has failed to repay the deposits accepted by it, or has failed to redeem any debentures.

The disqualification of a director for non-compliance occurs automatically as soon as the company is struck off. The director shall have to vacate office in other companies too. Such director cannot be eligible for reappointment for the next 5 years as mentioned in Section 167(1).

21/10/2020

मेरठ GST जोनल शिकायत निवारण समिति की बैठक (Zonal GST Grievance Redressal Commitee ) की बैठक नवंबर माह में होनी निश्चित हुई है। यदि किसी भी व्यापारी भाई की, मेरठ कमिश्नर के क्षेत्र में , GST से सम्बंधित कोई शिकायत है तो तुरंत फेडरेशन ऑफ़ आल इंडिया व्यापार मंडल के श्री विनेश जैन , सदस्य , जीएसटी जोनल शिकायत निवारण समिति ,मेरठ कमिशनरी से तुरंत (Mob. 8938080808 ईमेल mr.vinesh.jain .com ) पर समपर्क करे.

15/10/2020

How the $88 trillion global is spread around the world? This year has seen global growth disrupted by the COVID-19 pandemic, with many of the world’s biggest economies in recession.

And the recovery will take longer than economists first thought. In June, the International Monetary Fund (IMF) World Economic Outlook projected global growth at -4.9% in 2020, 1.9 percentage points below the April forecast.

• Before COVID-19, the global economy stood at $88 trillion.

• But the pandemic has seen growth forecasts revised downwards and economies go into recession.

• In 2019, the United States had the biggest slice of the global economy pie – and the top 10 economies accounted for two-thirds of global .

The impact would be felt hardest on low-income households, said the IMF, and threatens to undo three decades of progress to reduce extreme .

While the economic impact of COVID-19 varies across the globe – depending on factors from economies’ efforts to contain it, level of development and types of industry, to the stimulus packages available – it’s useful to understand the global economic picture before the pandemic.

14/10/2020

CBDT makes new announcement.

New Delhi: The Central Board of Direct Taxes (CBDT) on September 30 extended the deadline for filing belated and revised ITRs for Assessment Year 2019-20 from September 30, 2020, to November 30, 2020, due to difficulties faced by people in the wake of coronavirus COVID-19 pandemic.

"On further consideration of genuine difficulties being faced by taxpayers due to the Covid-19 situation, CBDT further extends the due date for furnishing of belated & revised ITRs for Assessment Yr 2019-20 from 30th September 2020 to 30th November 2020.Order u/s 119(2a) issued," CBDT tweeted.

CBDT had on July 29 extended the deadline for filing income tax returns for 2018-19 fiscal and revised ITRs from 31st July 2020 to 30th September 2020.

Know the difference between revised ITR and Belated ITR
What is the revised income tax return and Who needs to file?

Revised return can be filed online under Section 139(5) of the Income Tax Act. If a person after furnishing the Income Tax Return finds any mistake, omission, or any wrong statement then he/she is liable for a revised ITR filing. It can be a mistake in the name spelling, bank account number, etc. The revised IT return should be filed within the prescribed time limit

What is a Belated return?

An income-tax return that is filed after the due date is called Belated Return. It is filed under section 139(4) of the income tax Act.

How to file a revised income tax return?

The process of filing belated returns is the same as that of filing regular ITR. You need to select the ITR form applicable to you and fill the form in the same manner as when you filed the return on time and choose the assessment year for which you are filing the belated return.

How to file a Belated return?

The process of filing a belated return is similar to that of filing a regular Income Tax Return. All you need to do is select the ITR form that applies to you. You can fill the form in the same manner as when you had filed the return on time. You will have to choose the assessment year for which you are filing the belated return.


Penalty on filing Belated return?

You will be charged an interest of one percent per month (simple interest) on the tax amount outstanding. This interest will be calculated from the due date applicable. For returns of FY 2017-18 and onwards, a penalty of Rs 5,000 will be charged for returns filed after the due date but before December 31. If returns are filed after December 31, a penalty of Rs 10,000 shall apply. However, the penalty will be Rs 1,000 for those with income up to Rs 5 Lakh.

-Source: Zee News

09/10/2020

FinTech Vs. Deepfake Fraud

Continuous advancements in technology, especially in artificial intelligence (AI), have led to the emergence of novel forms of deception. Algorithms can be used to create highly deceptive synthetic media, colloquially referred to as deepfakes. Deepfakes include videos, audios, and seemingly authentic photos. In addition to their most common use in politics to primarily spread misinformation, deepfakes are now growing roots in the financial sector.

Threat of Deepfakes
Deepfakes remain a low threat to the financial sector, mainly because synthetic media production is complex and requires superior technical skills. however its an effective and harmful approach fraud.