Additional GST liabilities? Use DRC 03 to make additional payments During the course of filing GST Return, a taxpayer may discover additional tax liabilities that he or she may
Day: April 18, 2019
LLP: Limited Liability Partnership framework revamp in the works–Economic Times
India is looking at a comprehensive review of the decade-old Limited Liability Partnership (LLP) framework including steep penalties for nonfiling of returns. The ministry of corporate
With just 5 planes flying, Jet Airways struggles to stay in sky; seeks Rs 400 cr emergency funds – The Economic Times
Government officials said lenders are discussing ways to revive the crisis-hit carrier and fresh funds are likely to be infused shortly. Mumbai/ New Delhi: Crisis
Banks must reflect IL&FS NPAs, RBI tells NCLAT – The Economic Times
The RBI has moved the NCLAT seeking modification of its order that restrained banks from declaring accounts of IL&FS and its group companies as NPAs.
I-T dept revises format of TDS certificate issued by employers – The Economic Times
The changes in Form 24Q will further help in identifying any fabricated transaction undertaken with an aim of tax avoidance, she added. The Income Tax
ITR1 filling salary details: Filling salary details in ITR-1 for FY 2018-19 gets easier for taxpayers
Standard deduction of Rs 40,000 will be a new detail inserted in Form-16 as it was re-introduced in Budget 2018. The ITR-1 form notified by
What to Do With a Problem Like Jet?–Economic Times
With more than Rs 10,000 crore of their lending at risk, lenders of Jet Airways have reportedly failed to reach a consensus over providing a
After GST changes in realty sector, surge in demand seems unlikely – The Financial Express
By Gokul Kishore To implement the GST Council’s recent decisions on the realty sector, the Central Board of Indirect Taxes & Customs (CBIC) has issued six
GST filing rules clarified; audit report format available for Rs 2 crore-plus businesses – The Financial Express
Businesses with an annual turnover of more than Rs 2 crore can now start filing GST audit reports for the financial year 2017-18 as the
New Sebi strictures on subsidiaries make accountants even more accountable | Business Standard News
The Securities and Exchange Board of India’s (Sebi’s) new rule pertaining to reviewing the account of unlisted subsidiaries of listed entity could go a long
Revised Form 16 seeks more disclosures from taxpayers – The Hindu BusinessLine
The Income Tax department has revised Form-16 by adding various details, including income from house property and remuneration received from other employers, thereby making it
Raghuram Rajan: Protectionism doesn’t really help preserve jobs: Raghuram Rajan–Economic Times
Rajan stressed that the reality is that trade while typically beneficial overall, has a distributional impact creating winners and losers. Protectionism does not really help preserve jobs and
IL&FS financial services: IL&FS: Auditor regulator NFRA probing role of EY, KPMG and Deloitte
The newly formed regulator for auditors is probing the role of three of the big four auditors in the alleged financial irregularity in Infrastructure Leasing
High growth achieved by India not possible without job creation: Amitabh Kant – The Economic Times
Kant’s statement comes against the backdrop of a report by Azim Premji University suggesting that employment opportunities declined and 5 million men lost their jobs
Aye Finance: Aye Finance launches its not for profit company for advancement of micro enterprises–Economic Times
After successfully enabling the financial inclusion of over 1,00,000 micro enterprises, Aye Finance is launching its not for profit Company FAME (Foundation for Advancement of Micro Enterprises), under which
banks: Banks’ recoveries from IBC cases falling – The Economic Times
Banks’ recoveries from bankruptcy cases are on the decline as demand for sick companies under the Insolvency and Bankruptcy Code has waned. However, fears of losing their companies have
Kotak Mahindra Bank moves NCLT against BILT unit – The Economic Times
Kotak Mahindra BankNSE 0.91 % has approached the dedicated bankruptcy court against Ballarpur IndustriesNSE 1.89 % Ltd subsidiary – BILT Graphic Paper Products – for default of Rs 218 crore.
IBC: IBBI working to provide accountable and competent valuers: MS Sahoo – The Economic Times
Bankruptcy Regulator chairperson MS Sahoo said that the Insolvency and Bankruptcy Board of India (IBBI) is working to provide an accountable and competent valuation professionals. The ministry of
The Insolvency and Bankruptcy Code: Financial, operational creditors recover nearly half of total claims in 88 insolvency cases – The Economic Times
Nearly half of their total admitted claims worth over Rs 1.42 lakh crore have been recovered by financial and operational creditors from as many as 88 debt-ridden companies under
NCLT stays order to withdraw Sterling SEZ’s insolvency resolution process – The Economic Times
The group owes about Rs 15,000 crore to its financial and operational creditors. The dedicated bankruptcy court has stayed its earlier order to allow the
