Chartered Accountants
(Date: 15/6/2019)
The Govt. has reduced the rate of contribution under the ESI Act from 6.5% to 4% with effect from July 01, 2019. This would benefit to both employers and employees. The reduced rate of contribution will bring the substantial relief to workers and it will facilitate enrollment of worker under the ESI scheme.
(Date: 10/06/2019)
On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting on 6th June,2019 decided to reduce the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points to 5.75 per cent from 6.0 per cent with immediate effect.
(Date: 4/6/2019)
CBDT has extended due date for filing of TDS statement in revised format of Form 24Q, for last quarter of FY 2018-19 from May 31, 2019 to June 30, 2019 & due date for issue of TDS certificate in Form 16 from June 15, 2019 to July 10, 2019.
(Date: 4/6/2019)
The Reserve Bank of India (RBI) has revised its guidelines on Bank’s exposure to large borrowers which was introduced three year ago to reduce concentration risk with respect to bad loans.
(Date: 14/05/2019)
The Ministry of Corporate Affairs (MCA) has issued clarification for appointment of auditor through GNL-2 form. Now, Companies are required to file ADT-1 which filed the GNL-2 for appointment of auditor without fee up to June 15, 2019, otherwise additional fee shall be applicable to companies.
(Date: 11/05/2019)
CBIC has extended the time limit for filing monthly returns in Form ER-1 and Form ER-2 for the month of April, 2019 from May 10, 2019 to June 10, 2019.
(Date: 9/05/2019)
The Institute of Company Secretaries of India (ICSI) has issued four Auditing Standards namely, Auditing Standard on Audit Engagement, Auditing Standard on Audit Process and Documentation, Auditing Standard on forming an opinion and Auditing Standard on Secretarial Audit.
(Date: 8/05/2019)
The Central Board of Direct Taxes (CBDT) has made it mandatory all deductors to issue the TDS certificate in Part B of Form no. 16 by downloading it through TRACES Portal. This will be applicable in respect of all sums deducted on or after April 1, 2018 under the provision of Section 192.
(Date: 2/05/2019)
The Ministry of Corporate Affairs (MCA) has notified the Companies (Appointment and Qualification of Directors) Rules, 2014 wherein rule 12 A for director’s KYC has been amended. The Director’s KYC e-form DIR-3 KYC is now required to be filed every year up to June 30 instead of April 30. It has also notified the Companies (Acceptance of Deposits) Second Amendment Rules, 2019 wherein the word “the date of publication of this notification in […] Read More >>
(Date: 27/04/2019)
CBIC has clarified that order of utilization of input tax credit wherein ITC available on account of IGST shall be first utilized only towards payment of IGST and if any amount remains, it may be utilized towards the payment of CGST or SGST/UTGST, in any order and in any proportion at the option of a registered person.