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PKM CBIC has reduced the e-invoicing limit from 10 crore to 5 crore starting from 1st August 2023. Find below the true copy of Notification MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS)NOTIFICATION New Delhi, the 10th May, 2023No. 10/2023 – Central Tax G.S.R. 355(E).—In exercise of the powers conferred by sub-rule (4) … Read more
[Division I, Division II of Schedule III: Financial Statements for a company whose Financial Statements are required to comply with the Companies (Accounting Standards) Rules, 2006] PART I — BALANCE SHEET New Requirements Y / N / NA Disclosure Made to Notes Rounding Off Mandatory required for all companies or If company is almost inoperative … Read more
Reverse Mortgage scheme allows homeowners, typically Senior Citizen, who owns a house property to mortgage their property to schedule bank or housing finance company in return for a lumpsum amount or regular monthly/quietly/yearly income. Senior citizen can continue to live in the house and receive regular income without the botheration of repaying the loan. Here … Read more
Section 115BAC of the Income Tax Act, 1961 New Tax Regime was introduced by the Finance Act, 2020 and became effective from the assessment year 2021-2022 (financial year 2020-2021). This section provides an optional tax regime for individuals and Hindu Undivided Families(now also made applicable to Societies, AOP, BOI Artificial Juridical person by finance Act … Read more
Under the Companies Act, 2013, board meetings are an essential aspect of corporate governance. Here are some key points related to board meetings under the Companies Act, 2013: It is important to note that the Companies Act, 2013, contains several provisions related to board meetings, and the above points provide only a brief overview. It … Read more
Under the Income Tax Act of 1961, individuals and businesses are required to file an income tax return with the tax authorities in India. The income tax return must include details of the taxpayer’s income earned during the financial year, which runs from April 1 to March 31 of the following year. The Income Tax … Read more
                 General Meeting Under the Companies Act, 2013, general meetings are gatherings of shareholders or members of a company. These meetings provide a platform for shareholders to discuss and make decisions on important matters concerning the company. Here are … Read more
Under the Companies Act 2013, directors of a company are required to disclose their interests in certain transactions or arrangements with the company. The purpose of this requirement is to ensure transparency and prevent conflicts of interest that could potentially harm the company’s interests. The provisions regarding the disclosure of directors’ interests are covered under … Read more
Under the Companies Act 2013, certain resolutions and agreements passed by a company are required to be filed with the Registrar of Companies (ROC) within specified timelines. The filing requirements ensure transparency and maintain an updated record of important decisions and transactions of the company. The filing process involves submitting the necessary documents and forms … Read more
Under the Companies Act 2013, the appointment of an auditor for a company is governed by Section 139. The main provisions of Section 139 regarding the appointment of an auditor are as follows: It’s important to note that the specific requirements for auditor appointment may vary based on the type of company, its size, and … Read more