S. Jaykishan

Chartered Accountants

Author Archive for S Jaykishan

Government unveils National Financial Reporting Authority Rules, 2018

Government unveils National Financial Reporting Authority Rules, 2018

(Date: 14/11/2018)

The Government lays down NFRA Rules, 2018. The rules shall be applicable on all listed Companies and other specified classes of companies. The Rules prescribes functions and duties of the Authority. It requires specified auditors to file annul return with the authority on or before 30th April year. Now NFRA shall receive recommendations from ICAI on proposals for new accounting and auditing standards.

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MCA proposes amendments in Companies Act, 2013

MCA proposes amendments in Companies Act, 2013

(Date: 8/11/2018)

In order to strengthen the regulatory framework, the Ministry of Corporate Affairs (MCA) has suggested more changes of the purpose of amendments in the Companies Act, 2013. The proposed amendments are related to Memorandum and Article of Association, Deposit, Beneficial owners, Corporate Social Responsibility, NFRA, directors, compromise and arrangement and so on.

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GST revenue collections for October, 2018

GST revenue collections for October, 2018

(Date: 2/11/2018)

The total revenue received under GST for the month of October, 2018 was Rs. 100,710 crores. Out of Rs. 100,710 crores, Rs. 16,464 crores have been collected as CGST, Rs. 22,826 crores has been collected as SGST, Rs. 53,419 crores has been collected as IGST and Rs. 8,000 crores has been collected as Compensation cess.

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Due date for filing Financial Statements & Annual Return with RoC extended

Due date for filing Financial Statements & Annual Return with RoC extended

(Date: 30/10/2018)

Keeping in view the requests received from various stakeholders seeking extension of time for filing of financial statements for the financial year ended 31.03.2018 on account of various factors , it has been decided to relax the additional fees payable by companies on e-forms AOC-4, AOC (CFS) AOC-4 XBRL and e- Form MGT-7 upto 31.12.2018′ wherever additional fee is applicable.

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CBDT releases draft amendment to rules for filing of Form 10G, 56 & 56G via online mode only

CBDT releases draft amendment to rules for filing of Form 10G, 56 & 56G via online mode only

(Date: 29/10/2018)

The Central Board of Direct Taxes (CBDT) has released draft notification amending Rules 2C, 2CA and 11AA of the Income-tax Rules, 1962. These rules pertain to filing of Form 56 & 56G for grant of approval u/s 10(23C)(v)/(iv)/(vi)(via) and filing of Form 10G for grant of Sec. 80G approval. Manual filing of these forms have been done away so as to […] Read More >>


Final notification to amend to rules of online issue of lower/nil deduction certificate

Final notification to amend to rules of online issue of lower/nil deduction certificate

(Date: 29/10/2018)

The Central Board of Direct Taxes (CBDT) has unveiled the final notification amending Form no. 13 & rules related to issue of certificate of no deduction of tax or deduction/collection of tax at lower rate electronically. Earlier, there was no centralized process to apply online for getting such certificate except for few states like, Karnataka & Goa which allow filing of Form 13 electronically.

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