Money Laundering

Whosoever directly or indirectly attempts to indulge or knowingly assist or knowingly is a party or is actually involved in any process or activity connected with the proceeds of crime…

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NIC Code of Manufacture of macaroni, noodles, couscous and similar farinaceous products

Manufacture of macaroni, noodles, couscous and similar farinaceous products This class includes manufacture of pastas such as macaroni and noodles, whether or not cooked or stuffed, manufacture of couscous, manufacture…

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NIC Code of Processing and preserving of fish, crustaceans and molluscs and products thereof

Processing and preserving of fish, crustaceans and molluscs and products thereof This class excludes: - processing of whales on land or specialized vessels, see 1010 - production of oils and…

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NIC Code of Advertising

  This class includes the provision of a full range of advertising services (i.e. through in-house capabilities or subcontracting), including advice, creative services, production of advertising material, media planning, and…

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One Time Measure to Solve grievances due to Non-Submission of ITR Form for Verification

Circular dated 13 July 2020, provides One-time measure for resolving the grievances of the taxpayers associated with non-filing of ITR-V for earlier Assessment Years and to regularize such returns which…

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Further extension of time for submission of financial results for the quarter/half year/financial year ending 31st March 2020

SEBI, vide circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/38 dated March 19, 2020 and circular No. SEBI/HO/DDHS/ON/P/2020/41 dated March 23, 2020, had extended the timeline for submission of financial results under regulations 33 and…

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Is Company eligible to contribute in Prime Minister’s National Relief Fund as C.S.R Activity

In exercise of the powers conferred by sub-section (1) of section 467 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following further amendment to…

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Is B2B business require to provide facilities for accepting payments through electronic modes

Is B2B business required to provide facilities for accepting payments through electronic modes section 269SU of the Income-tax Act, 1961 -Refer full article To encourage digital transactions and move towards…

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Lets check what measures taken by Reserve Bank of India under Self Reliant India (आत्म निर्भर भारत अभियान)

Announced special refinance facilities to NABARD, SIDBI and the NHB for a total amount of 50,000 crores at the policy repo rate Announced the opening of a special liquidity facility…

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Check Revised Definition of M.S.ME to avail free registration and so much benefits from government for businesses

Announcement Definition of MSMEs will be revised  There is a change in Investment limit Additional criteria of turnover is introduced Distinction between manufacturing and service sector to be eliminated Refer…

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Global tenders to be disallowed upto Rs 200 crores under Self Reliant India (आत्म निर्भर भारत अभियान)

Indian MSMEs and other companies have often faced unfair competition from foreign companies. Therefore, Global tenders will be disallowed in Government procurement tenders up to Rs 200 crores Necessary amendments…

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Clarification in respect of residency under section 6 of the Income tax Act, 1961 due to Covid-19 lockdown

Section 6 of the Income-tax Act, 1961 (the Act) contains provisions relating to the determination of the residency of a person. The status of an individual, as to whether he…

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NOTIFICATION No. No. 40/2020–Central Tax issued to extend the validity of e-way bill till 31.05.2020

In exercise of the powers conferred by section 168A of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said…

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About Casolutions Global

Casolutions Global is a platform for Finance Professionals, Taxpayers, CA/CWA/CS towards E-learning, sharing updates related to technology, G.S.T, Income tax, IND AS, Stock market, and for getting job updates. It…

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Clause 30C and Clause 44 of the Tax Audit Report shall not applicable till 31st March, 2021

Section 44AB of the Income-tax Act, 1961 ('the Act') read with rule 6G of the Income-tax Rules, 1962 ('the Rules') requires specified persons to furnish the Tax Audit Report along…

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Due date of holding of annual general meetings whose financial year has ended on 31st December, 2019 due to covid-19

After receiving Several representations from stakeholders with regard to difficulty in holding annual general meetings (AGMs) for companies whose financial year ended on 31st December 2019 due to COVID-1 9.…

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Otherwise definition as per rule 2(1)K of the companies (Appointment and qualification of directors) rules 2014

otherwise means any offence in respect of which a person is convicted by a court under the companies act 2013 or company act 1956 { as per rule 2(1)K of…

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Analysis of definition of business as per Ind AS 103- Business combination

Definition of Business A Business Consists of inputs and processes applied to the input to those inputs that have the ability to create output. Three Elements Inputs: Any economic resources…

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DIN holder can file DIR-3KYC/DIR-3 KYC-Web and Company having active non-compliant status can be corrected till 30th September 2020

DIN holders of DINs marked as ‘Deactivated’ due to non-filing of DIR-3KYC/DIR-3 KYC-Web and those Companies whose compliance status has been marked as “ACTIVE non-compliant” due to non-filing of Active…

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Share Based Payment are made to employees without vesting condition under Ind AS 102

S.B.P are made to employees Without vesting condition In such case, entity should recognise employee benefit expenses immediately on the grant date at the fair value of shares on grant…

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Equity Settled Share Based Payments made to external party other than employees by issue of equity shares as per Ind AS 102

1.      Equity Settled- Share Based Payments S.B.P are made to external parties For Goods An entity recognised goods acquired in Share based transaction on the date of goods received. An…

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