Chartered Accountants
(Date: 16/04/2019)
The Ministry of Corporate Affairs (MCA) has issued clarification with regard to Director’s KYC whereby It has clarified that the DIN holders are required to file the DIR-3KYC form every year, so that they are aware of and confirm the data and information as available in the MCA21 system.
(Date: 9/04/2019)
CBIC determines the new rate of exchange of foreign currencies into Indian Currency or vice versa, with effect from 5th April, 2019 for the purpose of import/export of goods. The new rates thus determined are mentioned in the attachment annexed below.
(Date: 6/04/2019)
The Ministry of Corporate Affairs has received several representations about the extension of last date for filing e-form CRA-2 without additional fees where the company has been mandated to get its cost records audited for the first time under the Companies Act, 2013 on account of Companies (Cost Records and Audit) Amendment Rules, 2018.
(Date: 5/04/2019)
The Central Board of Direct Taxes (CBDT) has notified the new Income-tax return (ITR) forms for Assessment Year 2019-20. Various changes have been incorporated in the new forms as outlined in the notice attached below.
(Date: 1/04/2019)
MCA has notified amendment to the Companies (Incorporation) Rules, 2014. New rule 38A has been added to the incorporation rules providing that application for incorporation of Company shall be accompanied by e-form AGILE containing application for GSTIN w.e.f March 31, 2019, EFPO w.e.f April 08, 2019 and ESIC w.e.f April 15, 2019.
(Date: 1/04/2019)
The Ministry of Corporate Affairs has notified the new Ind AS 116, Leases. It shall replace existing Ind AS 17 and shall be effective from financial year beginning on or after April 1, 2019. The new Standard will impact accounting of leases in the books of lessees.
(Date: 1/04/2019)
Due date for Linking PAN and Aadhaar has been extended from 31.03.2019 to 30.09.2019. It has also been clarified that with effect from 01.04.2019, it is mandatory to quote Adhaar number while filing the return of Income, unless assessee has specifically been exempted.
(Date: 29/03/2019)
CBIC on March 28, 2019, through notification, has extended the due date for filing form ITC-04, in respect of goods despatched to a job worker or received from a job worker, during the period from July 2017 to March 2019 till the 30th day of June 2019.
(Date: 23/03/2019)
The commercial banks were required to implement Ind AS for preparation and presentation of their financial statements w.e.f. April 01, 2019. Now, RBI has deferred the implementation for an unlimited period of time pending necessary legislative amendments to the Banking Regulations Act, 1949. The amendments are under consideration of the Government of India.
(Date: 11/3/2019)
The CBDT has increased the maximum amount of gratuity exempt under section 10(10)(iii) from existing Rs. 10 Lakh to Rs. 20 Lakh. Earlier, the Govt. vide notification S.O. 1420 (E) dated 29.03.2018 has increased the limit of amount of gratuity payable to an employee under section 4(3) of the Payment of Gratuity Act, 1972 from Rs. 10 Lakh to Rs. 20 Lakh.