S J GROUP

25/01/2025

🚨 Budget 2025 Analysis Coming Soon! 🚨

Get ready for an in-depth analysis of the Income Tax and Indirect Tax changes in the upcoming Budget! 📊💼

💡 What to Expect:
✅ Complete breakdown of Budget 2025
✅ Impact on Income Tax and Indirect Tax
✅ Key takeaways you need to know

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08/09/2024

Don't Buy LIC for Tax Saving

15/11/2022

This video will give insight of new Amendment which will have impact on Foreign Companies/ MNCs & users of Cloud base Accounting Software using Software like SAP, Oracle etc.
A compliance which Management, Auditor & Company Secratary should check in FY 2022-23.

Dear Friends, This video will give insight of new Amendment which will have impact on Foreign Companies/ MNCs & users of Cloud base Accounting Software using...

01/04/2022

Video summarizes Amendment made to Schedule III on face of the Financial Statement(FS) & Disclosure Very Important for F.Y 2021-22 Audit /Preparation of FS

Schedule III Amendment Very Important for Mar'2022 AuditGuidance Note on Schedule III by ICAI Link: resource.cdn.icai.org/68982clcgc55147-gnd2.pdfPlease Subs...

10/09/2021

15/06/2021

COST INFLATION INDEX 317 FOR FY 21- 22

03/06/2021

https://www.indiasreaction.com/top-news/deloitte-paid-80-million-in-1mdb-fraud-settlement/

The 1Malaysia Development Berhad scandal (1MDB scandal) is an political scandal occurring in Malaysia. In a recent development audit firm Deloitte PLT and

01/05/2021

CBDT: Extension of Due dates for taxpayers

i) Filing Belated Return of Income u/s 139(4) for AY 2020-21 (FY 2019-20) – Extended to 31st May, 2021 (which ended on 31st March, 2021)

ii) Filing SFT (Form 61) extended to 31st May, 2021 (where the due date was 30th April, 2021)

iii) Return filed in response to 148 of the Income Tax Act – where return of income had to be filed on or after 1st April, 2021 - can now be filed upto 31st May, 2021

iv) Relaxation of Filing Appeal dates for Appeals to CIT (Appeals) extended to 31st May, 2021 (where such last date was 1st April, 2021 or after)

v) Payments of TDS deducted u/s 194IA, 194IB and 194M and filing of challan-cum-statement on the same may be furnished on or before 31st May, 2021 (earlier date 30th April, 2021)

30/03/2021

QR code on GST invoice extended by 3 months from 1st April to 1st July 21

25/03/2021

Amendments in Schedule III from 1st day of April, 2021

As per the amendments many new disclosure has been mandatory as detailed below:

a. Disclosure of Shareholding of Promoters
b. Trade Payables ageing schedule with age 1 year, 1-2 year, 2-3 year & More than 3 years
c. Reconciliation of the gross and net carrying amounts of each class of assets
d. Trade Receivables ageing schedule with age 1 year, 1-2 year, 2-3 year & More than 3 years
e. Detailed disclosure regarding title deeds of Immovable Property not held in name of the Company.
f. Disclosure regarding revaluation & CWIP ageing.
g. Loans or Advances granted to promoters, directors, KMPs and the related parties
h. Details of Benami Property held
i. Reconciliation and reasons of material discrepancies, in quarterly statements submitted to bank and books of accounts.
j. Disclosure where a company is a declared wilful defaulter by any bank or financial Institution
k. Relationship with Struck off Companies
l. Pending registration of charges or satisfaction with Registrar of Companies
m. Compliance with number of layers of companies
n. Disclosure of 11 Ratios
o. Compliance with approved Scheme(s) of Arrangements
p. Utilisation of Borrowed funds and share premium
q. Details of transaction not recorded in the books that has been surrendered or disclosed as income in the tax assessments
r. Disclosure regarding Corporate Social Responsibility
s. Details of Crypto Currency or Virtual Currency

Link:

25/03/2021

MCA Updates

1. Mandatory use of Accounting Software having Audit Trail

From FY commencing on 01.04.2021, every Company shall use Accounting Software having feature to record audit trail of each transaction, creating the edit log of changes made & ensuring that the audit trail cannot be disabled.

Link:http://mca.gov.in/Ministry/pdf/AccountsAmendmentRules_24032021.pdf

2. Other Matters to be Included in Auditors Report

a. Reporting regarding advances, loans & Investment other than disclosed in notes to accounts.
b. Receiving of funds for further lending or investing other than disclosed in notes to accounts.
c. Dividend declared or paid is in compliance of section 123 of CA, 2013.
d. Comment of use of Accounting Software having Audit Trail & other rules therein.

Link:http://mca.gov.in/Ministry/pdf/AuditAuditorsAmendmentRules_24032021.pdf