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Companies (Meetings of Board and its Powers) Amendment Rules notified by MCA

MCA notifies Companies (Meetings of Board and its Powers) Amendment Rules, 2018, inserting proviso to Rule 4 to allow directors to participate in meetings via video conferencing or other …
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ICAI’s Implementation Guide on Revised SA 700, 705 and 706

ICAI has issued Implementation Guide on Revised SA 700, SA 705 and SA 706, in view of new formats of audit reports having been prescribed under these audit standards …
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MCA Extends AOC-4 XBRL Filing Due Date upto 31/05/2018 for Ind AS Companies

MCA has announced further relaxation of additional fees and extension of last date upto 31/05/2018 for filing of AOC-4 XBRL E-Forms by Companies adhering to Ind AS Rules under …
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MCA to levy Additional Fee of Rs. 100/ day for Late Filing of Annual Return/ Financial Statements

MCA is in the process to levy Additional Fee of Rs. 100 per day for Late Filing of Annual Return/ Financial Statements (Forms 23AC, 23ACA, 23AC XBRL, 23ACA XBRL, …
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Transport Allowance withdrawn from FY 2018-19/ AY 2019-20, CBDT notifies

Transport allowance withdrawn by CBDT, i.e. provisions relating to exemption of ‘Transport Allowance’ of Rs. 1,600 pm for salaried individuals/ employees to meet their commuting costs between residence and …
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Registration/ Submission of ‘SFT’ in Form 61A under S. 285BA: CBDT’s Revised Procedure

CBDT has notified the Revised Procedure for Registration and online Submission of ‘Statement of Financial Transactions (SFT)’ for FY 2017-18 in Form 61A under IT section 285BA read with …
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Registration/ Submission of ‘Form 61B Statement of Reportable Account’: CBDT’s Revised Procedure

CBDT has Notified ‘Revised Procedure for registration and online submission of Statement of Reportable Account (in Form 61B)’ by Prescribed Financial Institutions under IT Section 285BA read with IT …
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CBEC Clarifications on Furnishing of Bond/ LUT for Exports without IGST Payment

CBEC has issued various clarifications/ circulars, from time to time, on furnishing of Bond/ Letter of Undertaking (LUT) by the Exporters for Exports without payment of IGST and also …
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CBDT Clarification on Applicability of Standard Deduction against Pension from Previous Employer

CBDT has clarified that any taxpayer who is in receipt of pension from his former employer, shall be entitled to claim a standard deduction of Rs 40,000/- or the …
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Section 80TTB: Deduction for Interest on Deposits (Senior Citizens)

Section 80TTB has been inserted by the Finance Act, 2018 to provide for a higher deduction of upto Rs 50,000 in respect of interest income, in the case of …
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