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16/07/2021
https://pranv.com/2020/10/27/filling-of-nil-gstr-3b-through-sms/
24/11/2020

https://pranv.com/2020/10/27/filling-of-nil-gstr-3b-through-sms/

Filling of Nil GSTR-3B through SMSniteshOctober 27, 2020 Every registered taxpayer is required to file GSTR-3B monthly which is the summary of all the inward and outward supplies taken during the month. Taxpayer can file the GSTR-3B by online & offline mode available on GST Portal. On 8th June CBIC...

07/01/2020

Updates:

1. INCOME TAX:
ITR 1 & ITR 4 notified for AY 2020-21, can’t be used if assessee owns property jointly with 2 or more persons. Income-tax (1st Amendment) Rules, 2020 w.e.f. 01.04.2020.

2. GOODS & SERVICE TAX:
Medicines/consumables used in the course of providing health care services is ‘composite supply’, exempt from GST.
CMC Vellore Association, In re- [2020] 113 taxmann.com 55 (AAR - TAMILNADU).

3. MCA increases Threshold Limit for requirement to appoint of CS in Pvt. Ltd. From Rs. 5 Cr. to Rs. 10 Cr. MCA notification dated 3rd January, 2020.

4. MCA adds Additional criteria for requirement of Secretarial Audit if outstanding loan or borrowings from banks or PFIs is RS 100 Cr. Or more. Notification dated 03.01.20

07/01/2020

Following are some changes in new ITR 4Sugam AY 2020-21 :-

*[😡] If having Passport, its number is to be given*

*[😡] If incurred aggregate expenses exceeding Rs. 2 lakh on foreign Travel for self or for others, then amount to be specified*


*[😡] If deposited aggregate amount exceeding Rs. 1 crore in one or more current accounts then aggregate of amount deposited in all such accounts to be specified*.

*[😡] If spent amount exceeding Rs. 1 lakh on electricity consumption then specify such aggregate amount*.

*[😡] If any assessee owns property in coownership then he will not be eligible to file ITR 1 Sahaj or 4 Sugam.*

*[😡] In case of 44AD or 44ADA or 44AE now the assessee will be required to give opening balance of cash in hand and opening balance of bank accounts and also will be required to give total amount received in cash during the year total Amount deposited in bank during the year, total amount of cash outflow out of cash balance during the year, total amount of withdrawal from Bank during the year and closing balance of cash in hand and closing balance of banks.*

*[🙂] Now there will be no need to provide figures of unsecured loans, sundry debtors, sundry creditors, amount of closing stock, etc. as was required in earlier years*

30/12/2019

Deadline for linking PAN Card with Aadhar is 31 December 2019. The deadline to link your Permanent Account Number to your Aadhaar card has been extended from 30 September 2019 to 31 December 2019 as per the Central Board of Direct Taxes.

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