Auditors perform an important role in the financial ecosystem, ensuring the accuracy and integrity of financial statements and reports. Their work helps to enhance stakeholder confidence, promote transparency, and ensure compliance with applicable laws and regulations. In an increasingly complex financial landscape, the duties and responsibilities of auditors have expanded to meet the needs of diverse organizations. Making their role […]
7th Oct Due date for deposit of Tax deducted/collected for the month of September, 2024. 7th Oct Due date for deposit of TDS for the period July 2024 to September 2024 when Assessing Officer has permitted quarterly deposit of TDS under section 192, 194A, 194D or 194H 7th Oct [Extended] Due date for filing of audit report under section 44AB for the assessment year 2024-25 in the […]
With the new UK government’s first Budget set for 30th October, UK Finance has explored the public finances they inherited and potential policy directions. The latest figures reveal borrowing is higher than expected, driven by increased spending on public services and benefits. This year’s borrowing is the third highest since 1983, and significant overspending in some departments points to difficult […]
In this edition we have tried to bring to your notice the latest amendment that followed in the month of September, 2024 issued by MCA and SEBI. MCA UPDATE IEPFA upgrades Call Centre and IVRS Support With New Toll-Free Number — 14453 This new toll-free number replaces the old toll-free number 1800 114 667 and is designed to provide users […]
An infrastructure investment trust (InvIT) established by private equity firm KKR & Co. has secured a government contract for a 252 km segment of highways, emerging as the highest bidder with a bid of $797 million (around INR 6,661 crores). This contract pertains to a section of the Hyderabad-Nagpur corridor in the southern state of Telangana. The concession period for […]
In India, Micro, Small, and Medium Enterprises (MSMEs) play a pivotal role in the country’s economic growth. With millions of businesses classified under MSMEs, they form the backbone of manufacturing, services, and export sectors. Timely payment to MSME vendors has become a significant compliance requirement, especially in light of stringent regulations set forth under various laws, including the MSMED Act, […]
GST Calendar –Compliances for the month of October’2024 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) October 10,2024 GSTR-8 (Tax Collected at Source ‘TCS’) October 10,2024 GSTR-1 October 11,2024 IFF- Invoice furnishing facility (Availing QRMP) October 13,2024 GSTR-6 Input Service Distributor October 13,2024 GSTR-2B (Auto Generated Statement) October 14,2024 GSTR-3B October 20,2024 GSTR-5 (Non-Resident Taxable Person) October […]
1.CBDT issues new guidelines to handle applications for condonation of delay in filing ITR with refund/losses The CBDT vide Circular No. 11/2024 dated 1st Oct, 2024 has issued a new circular under Section 119(2)(b) of the Income-tax Act, 1961. This circular provides comprehensive guidelines for handling applications for condonation of delay in filing returns claiming refunds and carry forward of […]
Corporate tax in the UK is levied on the profits earned by limited companies, foreign companies with a UK branch, and unincorporated associations, including clubs and cooperatives. It is one of the largest sources of government revenue, and businesses are required to pay tax on their profits after deductions like allowable expenses, capital allowances, and other reliefs. This blog provides […]