Discussing compliance requirements and important updates under the Income Tax Act, GST Act, FEMA, SEBI, Companies Act, IBBI and other statutory laws for the month of September 2021.
On 5th August 2021, The Taxation Laws (Amendment) Bill, 2021 proposed to remove the provisions of retrospective effect of tax completely. This step had resolved the problem of 17 industries.
While the filing of ITR has several advantages but committing minor mistakes may sometimes attract huge penalties therefore one should be cautious while filing his own ITR.
Students should not emphasize their poor results and understand that the only way is to go through the situation well with a cool mind and prepare effectively, not to repeat themselves and get positive results.
As per Section 139AA of the Income Tax Act, every person who has PAN as on July 1, 2017, is required to link their PAN with their Aadhaar number within the due date notified by the government.
This allowance is provided by the employer to cover the travel expenses of the employee when he is gone for a holiday trip. Leave Travel Concession is another name of LTA.
Preference shares are those shares which has priority over the equity shares in payment of dividend. These shares not only have a preferential right to receive dividends but also repayment of capital on winding up.
Export incentives are certain benefits exporters receive from the government as acknowledgement for bringing in foreign exchange and as compensation for the costs they incur.
With a view to making the disclosure more accurate and efficient, the NSE, in consultation with SEBI, has introduced a facility for filing RPTs in XBRL mode under regulation 23(9) of LODR Regulations, 2015.
It is the minimum rate u/s 44AD that has to be considered and higher income option is open for the taxpayers which has to be used if taxpayers have higher income.
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
