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Posted On:  11 months ago


Top 18 unusual witty excuses for not filing return on time by Indians

Each year the Chartered Accountant receives a number of unusual witty excuses from assesses who didn’t file their tax return on time or didn’t file the return at all. Some of the excuses are as follows: 1)      My family member was hospitalized due to which I cannot file my return on time 2)      My financial condition was not good at the time of filing the return as I cannot afford to pay CA Fees 3)      I don t know how to file the return and with whom to file the r

article author CA Chirag Chauhan

Posted On:  11 months ago


How to register or update Digital signature certificate (DSC) and other user services under the new Goods and Service Tax (GST) common portal?

A. Procedure to register DSC on the GST common portal: I have procured a DSC. How can I register my DSC with the GST Common Portal? To register your DSC with the GST Common Portal, you need to perform the following steps:  1. Access the www.gst.gov.in URL. The GST Home page is displayed.

article author One Roof Consultant

Posted On:  1 year ago


Appointment of Common Adjudicating Authority by DGRI

S.O. (E). – In pursuance of notification No. 60/2015-Customs (N.T.), published vide number G.S.R. 453(E), dated 4th June 2015 in Gazette of India, Extra-ordinary, Part-II, section 3, sub-section (i), and as amended by notification No. 133/2015-Customs (N.T.), published vide number G.S.R. 916(E) dated 30th November 2015 in Gazette of India, Extra-ordinary, Part-II, section 3, sub-section (i), issued by the Government of India, Ministry of Finance, Department of Revenue, under clause (a) of section 152 of the Customs Act, 1962 (52 of 1962), the Director General, Revenue Intelligence, hereby appoints officers mentioned in column

article author One Roof Consultant

Posted On:  1 year ago


GST Levy and exemption on different assesses

GST has been passed in the parliament and the Government is working eagerly to make this act let applicable from 1st April 2017 following the motto “One Nation One Tax”. After this act comes into force each person whether of Service background or of Manufacturing background or of any other back ground will come under one common tax net. Each person has to file common return whether he/she is of Service background or of Manufacturing background or of any other background. This article will give you information on the applicability and exemption on different assesses under the GST law/act.

article author CA Chirag Chauhan

Posted On:  1 year ago


Contribution to pension fund on salary exceeding Rs. 15000 per month with effect from 1st September 2014

Kind attention is invited to the notification no. GSR- 609 dated 22.08.2014 through which following provisions were inserted in sub Para 4 of Para 11 of Employees Pension Scheme 1995 (determination of pensionable salary). The provisions of Para 11 (4) is reproduced below for your ready reference

article author One Roof Consultant

Posted On:  1 year ago


ICAI Request members to improve annual ROC filing compliance

Request for improving of annual filing compliance by pursuing companies so as to help the Ministry of Corporate Affairs in achieving the targeted compliance As the members are already aware that that it is the time of peak filing of Balance Sheet & Annual Return under the Companies Act This is to mention here that to promote high standard of integrity and professionalism it is an essential part of the Professional duty of the Chartered Accountants to ensure compliance of various statutory and other regulatory requirements with regard to the relevant provisions of the Acts which regulate the functioning of Companies and LLPs.

article author One Roof Consultant

Posted On:  1 year ago


Raising of further capital & process of exit of Exclusively Listed Companies from Dissemination Board

All Exclusively Listed Companies in the Dissemination Board (shares of companies available for buying and selling and not for companies referred as vanishing companies.) Exclusively listed companies of De-recognized/Non-operational/exited Stock Exchanges placed in the Dissemination Board (DB). 1. SEBI vide circular dated May 30, 2012 issued guidelines facilitating the exit of Derecognized/Non-operational stock exchanges and exit to the shareholders of exclusively listed companies (ELCs) by allowing them to get listed on nationwide stock exchanges after complying with the diluted listing norms of nationwide stock exchanges, failing which they would be moved to the Dissemination Board (DB).

article author One Roof Consultant

Posted On:  1 year ago


Launch of Enhanced Foreign Trade Data Dashboard

As part of the initiative of the Ministry of Commerce & Industry to provide easy access to the public with regard to India’s export, import and balance of trade data in an analytical format, over time and space, Commerce & Industry Minister Smt. Nirmala Sitharaman today launched a new enhanced Dashboard on Foreign Trade Data. Speaking on the occasion she said technology will be used for transparent decision making and reaching out to people using real time data. The Minister said this Dashboard is an improved version of the earlier EXIM Analytics Dashboard developed with many added features. It is more user friendly and would facilitate the general public to have an accurate picture on dynamics of foreign trade performance of India.

article author One Roof Consultant

Posted On:  1 year ago


Suggestions from the Industry and Trade Associations for Budget 2017-18 regarding changes in direct and indirect taxes.

In the context of formulating the proposals for the Union Budget of 2017-18, the Ministry of Finance would like to be benefited by the suggestions and views of your Association. You may like to send your suggestions for changes in the duty structure, rates and broadening of tax base on both direct and indirect taxes giving economic justification for the same. 2. Your suggestions and views may be supplemented and justified by relevant statistical information about production, prices, revenue implication of the changes suggested and any

article author One Roof Consultant

Posted On:  1 year ago


ICAI withdraws application Guide on Schedule II to Companies Act, 2013

Application Guide on the Provisions of Schedule II to the Companies Act, 2013 is no longer effective as the Guidance Note on Accounting for Depreciation in Companies in the context of Schedule II to the Companies Act, 2013 has been issued. The Corporate Laws & Corporate Governance Committee (CL&CGC) of the Institute of Chartered Accountants of India (ICAI)

article author One Roof Consultant

Posted On:  1 year ago


Peak Filing Preparation 2016-MCA 21

As you are aware it is time of peak filing of Balance Sheet & Annual Return under the Companies Act. To avoid last minute rush and system congestion on the MCA 21 portal on account of annual filings during October / November 2016, we are quite sure that you might have already taken steps in advising corporates to file balance sheet and annual return of the companies early without postponing it to the last few days permitted for the same.

article author One Roof Consultant

Posted On:  1 year ago


Anti-dumping duty on Narrow woven Fabrics Hook and Loop Velcro Tapes

Seeks to impose anti-dumping duty on Narrow woven Fabrics Hook and Loop Velcro Tapes of specified types, originating in or exported from People s Republic of China for a period of five years G.S.R. (E). – Whereas, the designated authority, vide notification No. 15/14/2015- DGAD, dated the 1st October, 2015, published in the Gazette of India, Extraordinary, Part I, Section 1 dated the 1st October, 2015,

article author One Roof Consultant

Posted On:  1 year ago


Form No. 68 -Immunity from imposition of penalty- Section 270AA

S.O. 3150 (E).- In exercise of the powers conferred by section 295 read with sub-section (2) of section 270AA of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-

article author One Roof Consultant

Posted On:  1 year ago


Expenditure for obtaining right to use spectrum for telecom services

S.O. 3145(E).-In exercise of the powers conferred by clause (iii) of Explanation to section 35ABA and section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes, hereby, makes the following rules further to amend the Income-tax Rules, 1962, namely:- 1. (1) These rules may be called the Income-tax (24th Amendment) Rules, 2016.     (2) They shall come into force on the date of their publication in the Official Gazette.

article author One Roof Consultant

Posted On:  1 year ago


Launch of dedicated website for DGAD, Department of Commerce

Ms. Rita Teaotia, Commerce Secretary, launched a more informative, user-friendly, dedicated website (http://www.dgtr.gov.in/) for DGAD for disseminating information/activities being performed by DGAD. She also inaugurated the additional office space developed by NBCC to meet the requirements of increased work responsibilities and to ensure optimal functioning of the Directorate.

article author One Roof Consultant

Posted On:  1 year ago


Procedure governing import of un-shredded scrap (HMS- I & HMS- II) under Para 2.54 of Handbook of Procedures (2015-2020)

The existing designated sea ports namely Chennai, Cochin, Ennore, JNPT, Kandla, Mormugao, Mumbai, New Mangalore, Paradip, Tuticorin, Vishakhapatnam, Pipava, Mundra and Kolkata will be allowed to import un-shredded scrap till 31st March, 2017 by which time. they are required to install and operationalize Radiation Portal Monitors and Container Scanner. Such sea ports which fail to meet the deadline will be derecognised for the purpose of import of un-shredded metallic scrap w.e.f  1.4.2017.

article author One Roof Consultant

Posted On:  1 year ago


Rate of exchange of conversion of foreign currency wef 07.10.2016

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Excise and Customs No.121/2016-CUSTOMS (N.T.), dated 15th September, 2016, except as respects things done or omitted to be done before such supersession, the Central Board of Excise and Customs hereby determines that the rate of exchange of conversion of each of the foreign currencies specified in column (2) of each of Schedule I and Schedule II annexed hereto, into Indian currency or vice versa, shall

article author One Roof Consultant

Posted On:  1 year ago


Notification No. 48/2016-Central Excise (N.T.) dated 07.10.2016

In exercise of the powers conferred by rule 3 of the Central Excise Rules, 2002, the Central Board of Excise and Customs hereby makes amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) number 27/2014-Central Excise (N.T.), dated the 16th September, 2014, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-Section (i) vide notification number G.S.R. 651(E), dated the 16th September, 2014, namely :-

article author One Roof Consultant

Posted On:  1 year ago


Income Tax (26th Amendment) Rules, 2016

S.O. 3160(E).-In exercise of the powers conferred by section 139A and section 285BA, read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:- 1. (1) These rules may be called the Income–tax ( 26th Amendment) Rules, 2016. (2) These rules shall come into force from the date of their publication in the Official Gazette.

article author One Roof Consultant

Posted On:  1 year ago


False Copyright website

It has come to the notice of the Department of Industrial Policy & Promotion (DIPP), Ministry of Commerce & Industry that a website www.copyright.in  is creating a false impression that it is the official website of the copyright registration office in India and inviting applications for protection of the various works i.e. literary, artistic, dramatic, musical, sound recording and cinematographic films along with its evidences.  This claim is totally fraudulent and creating confusion among general public.

article author One Roof Consultant