Corporate Compliance Help

02/04/2022

No TCS u/s 206C(1G) on sale of overseas tour package by tour operators to non-resident individuals visiting India. Notification 20/2022 of 30.3.22.

18/06/2021

Validity of Udyog Aadhaar Memorandum extended from 31 March, 2021 to 31 December, 2021
News, Dated 18.06.2021
Considering the hardships faced by MSMEs during the prevailing COVID-19 situation and the representations received from the various MSME associations, financial institutions, and Government departments dealing with the interest of the MSME Sector, the Govt. has decided to extend the Validity of the Udyog Aadhaar Memorandum from 31st March 2021 to 31st December 2021.

It is expected that existing EM Part-II and UAM holders would be able to migrate to the new system of Udyam Registration, which was launched on 1 July 2020, and would avail the benefits of Government Schemes, thereby paving the way for strengthening MSMEs and leading to their faster recovery, boost to their economic activity and creation of jobs. Interested enterprises can register on https://udyamregistration.gov.in free of cost and without any documents. Only PAN and Aadhaar are required for registration on the Udyam portal.

Udyam Registration, Zero cost for registering Udyam Registration(Official Website for MSME Registration) Ease of Doing Buisness shall be filed online free of cost. The Udyam Registration Portal maintained by the Ministry of Micro, Small and Medium Enterprises, by every micro, small and medium enterp...

02/06/2021

Attn Employers. Ensure Aadhar seeding for all PF members as wef 1.6.21 ECR filing only for those whose Aadhaar numbers are seeded & verified with UANs.

23/07/2020

TDS return due date of 1st qtr FY 2020-21 will be extended to 31st march 2021

The due date has been extended to 31/03/2021 by The Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 read with Notification No. 35 /2020 , dated 24-06-2020. However, the benefit of extended due date shall not be available in respect of payment of taxes​.

16/07/2020

ITR filing date has been increased from 31/07/2020 to 30/11/2020 but payment dates of advance tax kept unchanged. Hence interest u/s 234B and 234C will continue to be levied for violation of advance tax provisions. Yes, Rate is reduced from 1.5% to 0.75% Per Month( 9% PA instead of 18%).

It may also be noted that last date of payment of self assessment tax is 30/09/2020 and not 30/11/2020, if balance tax liability is more than Rs 100000.00. Again, one shall be liable for interest at reduced rate of 0.75% Per Month (instead of 1.50%) in case of delay.

Hence one may be advised to file his/ her ITR at the earliest possible opportunity considering :

1. Early filing means early processing and timely payment of refund, if any.

2. It avoid interest u/s 234 A, B and C, one has to compile and calculate his/her tax liability and ITR filing is only the next step to this. Then why not discharge the
burden of return filing also.

3. To avail various deductions u/s 80 C to 80 U, Date of deposit has been extended from 31/03/2020 to 31/07/2020. One can find out the additional deposit requirements only after doing the full computation work.

4. The extension is one time offer and from next year original dated will continue. So why to disturb own set of discipline. This may create confusion next year and cause late fee and disturb the regular habits.

If you have any technical assistance for preparing of Income Tax return, u can approach on whatsapp 9540999923.

14/07/2020

The CBDT has granted one-time relaxation to verify Income-tax returns, filed for the Assessment Years 2015-16 to 2019-20, which are pending with Dept. for want of valid ITR-V form. Taxpayers are allowed to verify such returns either by sending signed copy of physical ITR-V form or through prescribed EVC/OTP modes by 30-09-2020

Refer Attachment : Circular 13/2020

20/06/2020

TDS Statement for Q4 FY19-20 is now due for filing, latest by 30 Jun20. Please act early to avoid inconvenience to Deductees & Late Filing fee.

28/04/2020

Pay TDS deducted from Salary & Others in March by 30.4.20(Thursday) WITHOUT Interest. Pay till 30.6.20 WITH Interest @ 0.75% pm.

13/04/2020

Employee making donation to PM CARE FUND through employer eligible to claim deduction based on his Form 16

Circular F.no. 178/7/2020, dated 09-04-2020

The CBDT has clarified that in case where donation is made to PM CARE FUND by an employee through employer, the fund may not be able to issue separate certificate to every such employee as contributions are made by employer in the form of consolidated payment. Thus, deduction to employee to be allowed u/s 80G on the basis of Form 16 issued by employer.

01/04/2020

File ITRs (AY 19-20), TDS/TCS Returns (Q4 of 19-20) by 30-6-20 but pay Advance/Self Assessment/ Regular Tax, TDS/TCS in time, else pay interest @ 9% pa.

31/03/2020

Tax saving deadline extended till 30th June 2020

31/03/2020

Employers who did not file ESI contribution for Apr to Sep 2019 within 42 days after end of the contribution period, can file it by 15.5.20.