https://www.business-standard.com/finance/news/gst-council-to-clarify-on-tcs-liability-of-e-commerce-suppliers-on-ondc-123070900156_1.html lipped from: https://www.business-standard.com/finance/news/gst-council-to-clarify-on-tcs-liability-of-e-commerce-suppliers-on-ondc-123070900156_1.html ONDC or Open Network for Digital Commerce is a new initiative of the department for promotion of industry and internal trade (DPIIT)
Month: July 2023
Income Tax Department targets 50 cases per AO for survey and TDS verification – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/policy/income-tax-department-targets-50-cases-per-ao-for-survey-and-tds-verification/article67060123.ece Clipped from: https://www.thehindubusinessline.com/economy/policy/income-tax-department-targets-50-cases-per-ao-for-survey-and-tds-verification/article67060123.ece To achieve this target, the department has set 16 parameters, including negative trends in TDS payment, cases of sick units, and late
Why 73,576 MSMEs have cancelled their Udyam licenses? Check here | The Financial Express
https://www.financialexpress.com/industry/sme/msme-eodb-why-73576-msmes-have-cancelled-their-udyam-licenses-check-here/3035328/ Clipped from: https://www.financialexpress.com/industry/sme/msme-eodb-why-73576-msmes-have-cancelled-their-udyam-licenses-check-here/3035328/ Ease of doing business for MSMEs: The total cancellation count was only 0.43 per cent of 1.67 crore MSMEs registered on the
‘The solution to rural prosperity is entrepreneurship at scale’ | The Financial Express
https://www.financialexpress.com/industry/sme/msme-eodb-the-solution-to-rural-prosperity-is-entrepreneurship-at-scale/3161011/ Clipped from: https://www.financialexpress.com/industry/sme/msme-eodb-the-solution-to-rural-prosperity-is-entrepreneurship-at-scale/3161011/ Ease of doing business for MSMEs: The lever to create jobs lies in mass entrepreneurship or widespread entrepreneurship. It means the growth
Embedded finance platform MyShubhLife partners with PayWorld for credit to retail merchants | The Financial Express
https://www.financialexpress.com/industry/sme/msme-fin-embedded-finance-platform-myshubhlife-partners-with-payworld-for-credit-to-retail-merchants/3159547/ Clipped from: https://www.financialexpress.com/industry/sme/msme-fin-embedded-finance-platform-myshubhlife-partners-with-payworld-for-credit-to-retail-merchants/3159547/ Credit and finance for MSMEs: The company said it will leverage the “vast retailer base” of PayWorld to provide merchants with flexible
👍👍👍👍👍👍👍Income Tax; Both joint account holders liable to pay tax on interest | The Financial Express
https://www.financialexpress.com/money/income-tax/your-queries-income-tax-both-joint-account-holders-liable-to-pay-tax-on-interest/3160686/ Clipped from: https://www.financialexpress.com/money/income-tax/your-queries-income-tax-both-joint-account-holders-liable-to-pay-tax-on-interest/3160686/ Interest earned on joint accounts are taxable in the hands of both primary and secondary account holders. ITR 1 is a simple
GSTN to get info from FIU about suspicious forex transaction by GST assessee – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/gstn-to-get-info-from-financial-intelligence-unit-about-suspicious-forex-transaction-by-gst-assessee/article67057364.ece lipped from: https://www.thehindubusinessline.com/economy/gstn-to-get-info-from-financial-intelligence-unit-about-suspicious-forex-transaction-by-gst-assessee/article67057364.ece This move has been initiated under section 66 of PMLA which prescribes sharing of information by officers responsible for enforcement of the
👍👍👍👍👍👍👍Understanding Maternity Insurance: Coverage, Conditions, and Options – The Hindu BusinessLine
https://www.thehindubusinessline.com/portfolio/personal-finance/understanding-maternity-insurance-coverage-conditions-and-options/article67052681.ece Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/understanding-maternity-insurance-coverage-conditions-and-options/article67052681.ece Insurance covers vary in coverage for maternity, but protection can be secured Maternity insurance takes care of expenses related to childbirth for women,
👍👍👍👍👍👍👍ITR forms: Which form to fill and what has changed – The Hindu BusinessLine
https://www.thehindubusinessline.com/portfolio/personal-finance/itr-forms-which-form-to-fill-and-what-has-changed/article67049482.ece lipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/itr-forms-which-form-to-fill-and-what-has-changed/article67049482.ece Income tax filing is done by the individuals in different forms prescribed by the Income-Tax Department The clock’s ticking down to the
Non-performing advances of public sector banks at multi-year lows
https://www.business-standard.com/industry/banking/non-performing-advances-of-public-sector-banks-at-multi-year-lows-123070701020_1.html Clipped from: https://www.business-standard.com/industry/banking/non-performing-advances-of-public-sector-banks-at-multi-year-lows-123070701020_1.html The closing stock of write-off pool stood at Rs 7.5 trillion at the end of March 2023, up from Rs 6.8 trillion
👍👍👍👍👍👍👍No addition can be made on Immovable Property purchased out of Gifts received from Relatives: ITAT directs Re-adjudication
Clipped from: https://www.taxscan.in/no-addition-can-be-made-on-immovable-property-purchased-out-of-gifts-received-from-relatives-itat-directs-re-adjudication-read-order/296643/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=No%20addition%20can%20be%20made%20on%20Immovable%20Property%20purchased%20out%20of%20Gifts%20received%20from%20Relatives:%20ITAT%20directs%20Re-adjudication By Aparna. M – On July 8, 2023 1:30 pm – 2 mins read The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) ruled that no addition could
Reporting frauds: Don’t get swayed by legal opinion of cos, NFRA cautions auditors – The Hindu BusinessLine
https://www.thehindubusinessline.com/companies/reporting-frauds-dont-get-swayed-by-legal-opinion-of-cos-nfra-cautions-auditors/article67056954.ece Clipped from: https://www.thehindubusinessline.com/companies/reporting-frauds-dont-get-swayed-by-legal-opinion-of-cos-nfra-cautions-auditors/article67056954.ece National Financial Reporting Authority has urged statutory auditors of listed entities and large private entities to exercise “professional scepticism” while evaluating frauds
GST officers bust 304 syndicates involving Rs 25k cr fake ITC claims
https://www.business-standard.com/finance/personal-finance/gst-officers-bust-304-syndicates-involving-rs-25k-cr-fake-itc-claims-123070100411_1.html lipped from: https://www.business-standard.com/finance/personal-finance/gst-officers-bust-304-syndicates-involving-rs-25k-cr-fake-itc-claims-123070100411_1.html The chief of the Central Board of Indirect Taxes and Customs (CBIC) flagged that only 40 per cent of the corporate income
Two lakh ‘unused’ Green Cards to be ‘recaptured’! What exactly is Biden doing? Critical details here | The Financial Express
https://www.financialexpress.com/jobs/two-lakh-unused-green-cards-to-be-recaptured-what-exactly-is-biden-doing-critical-details-here/3161202/ Clipped from: https://www.financialexpress.com/jobs/two-lakh-unused-green-cards-to-be-recaptured-what-exactly-is-biden-doing-critical-details-here/3161202/ The move will provide relief to individuals who have been waiting for their Green Cards in backlogs. For those unaware, a Green
I-T dept has taken many initiatives to ensure ease of compliance: Official
https://www.business-standard.com/finance/personal-finance/i-t-dept-has-taken-many-initiatives-to-ensure-ease-of-compliance-official-123070800042_1.html Clipped from: https://www.business-standard.com/finance/personal-finance/i-t-dept-has-taken-many-initiatives-to-ensure-ease-of-compliance-official-123070800042_1.html Principal Chief Commissioner of Income Tax, Andhra Pradesh and Telangana, Mita Madhusmita was addressing a press conference on the ‘Issue of Suspicious
gst on cancer drug: GST Council likely to exempt IGST on cancer drug import, fix 5% tax on refreshments served in multiplex – The Economic Times
https://economictimes.indiatimes.com/news/economy/policy/gst-council-likely-to-exempt-igst-on-cancer-drug-import-fix-5-tax-on-refreshments-served-in-multiplex/articleshow/101553225.cms Clipped from: https://economictimes.indiatimes.com/news/economy/policy/gst-council-likely-to-exempt-igst-on-cancer-drug-import-fix-5-tax-on-refreshments-served-in-multiplex/articleshow/101553225.cms Synopsis Besides, import of medicines and Food for Special Medical Purposes (FSMP) used in the treatment of rare diseases for personal use
Stricter tax regime for tobacco, pan masala could be in phases
https://www.business-standard.com/economy/news/gst-council-to-review-stricter-tax-regime-for-pan-masala-tobacco-in-phases-123070700787_1.html Clipped from: https://www.business-standard.com/economy/news/gst-council-to-review-stricter-tax-regime-for-pan-masala-tobacco-in-phases-123070700787_1.html No consensus yet on retail sale price-based levy on some items However, it couldn’t be ascertained whether the issues cited are with
Simply Put: E-verification – The Hindu BusinessLine
https://www.thehindubusinessline.com/portfolio/personal-finance/simply-put-e-verification/article67052720.ece Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/simply-put-e-verification/article67052720.ece Verification of return is an essential step to complete the ITR filing process Balaji and Rohit catch up after a long while.
‘Rapid adoption of Account Aggregator network signals new era in financial inclusion, especially for MSMEs’ | The Financial Express
https://www.financialexpress.com/industry/sme/msme-eodb-rapid-adoption-of-account-aggregator-network-signals-new-era-in-financial-inclusion-especially-for-msmes/3140625/ Clipped from: https://www.financialexpress.com/industry/sme/msme-eodb-rapid-adoption-of-account-aggregator-network-signals-new-era-in-financial-inclusion-especially-for-msmes/3140625/ Ease of doing business for MSMEs: While there is rapid growth with the AA network, the key challenge here especially for the
aniltikotekar4sme.com 