Finance Ministry gives deadline to Infosys till Sept 15 to fix glitches in Income Tax E-Filing Portal
Read More: https://www.taxscan.in/finance-ministry-gives-deadline-to-infosys-till-sept-15-to-fix-glitches-in-income-tax-e-filing-portal/128825/
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⚫India's smartphone market is set to hit a record high of 173 million units in 2021, growing at 14% yoy. India's smartphone market is the second biggest market in the world after China.
⚫India has cut base import taxes on crude and refined soyoil and sunflower oil to 7.5% from 15% for six weeks, to cool near record high prices.
⚫ED has served notices on at least a dozen NRIs in the past two weeks, seeking information on the source of funds and foreign assets. The federal agency is on a drive to verify if any provision in the foreign exchange law has been flouted.
⚫EPFO adds 1.283 million members in June amid Covid-19.
⚫Johnson & Johnson, has sought permission from the Indian drug regulator to conduct trials of its Coronavirus vaccine on adolescents aged 12 to 17 years.
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✅Companies (Appointment & Qualification of Directors) Amendment Rules, 2021
Chartered Accountants not Required to Pass "Online Proficiency Self Assessment Test"
https://t.co/MwyaPv9Ftu
✅ICAI - Multipurpose Empanelment Form (MEF) 2021-22 expected to be made live in the month of October
https://www.icai.org/post/mef2021-22-200821
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👉🏻Specified Professionals exempt from Online Proficiency Self Assessment Test for becoming Independent Director
( MCA exempts CA, CMA, CS & Advocate having 10 years experience from Online Proficiency Self Assessment Test for becoming Independent Director)
👇🏻 👇🏻 👇🏻
https://bit.ly/3kbqT36
👉🏻Multipurpose Empanelment Form (MEF) – 2021-22
(Revised MEF Form for the year 2021-22 is expected to be made live in the month of October 2021 - ICAI)
👇🏻 👇🏻 👇🏻
https://bit.ly/3syijPC
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👉Extension of Last attempt to appear in CA Final and Intermediate Old Course Examination - (20-08-2021)
https://resource.cdn.icai.org/66132bos200821.pdf
👉Multipurpose Empanelment Form (MEF) - 2021-22 - (20-08-2021)
https://www.icai.org/post/mef2021-22-200821
👉Conversion/Switch of Government of India (GoI)’s Securities
https://rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=52079
👉Minutes of the Monetary Policy Committee Meeting, August 4 to 6, 2021
https://rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=52088
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⚫Oil posts biggest week of losses in nine months as Delta variant spreads. The crude market has now posted seven consecutive days of losses. Numerous nations worldwide are responding to the rising infection rate due to the coronavirus Delta variant by adding travel restrictions to cut off the spread.
⚫Banks have recast loans worth Rs 35,000 crore under the RBI’s regulatory package 2.0 till June this year.
⚫India has been allowed to operate two flights per day from Kabul to evacuate its nationals stranded in Afghanistan.
⚫European Union says no recognition of Taliban, no political talks.
⚫Markets, malls, restaurants and bars in delhi can stay open beyond 8 pm from next week.
⚫Thousands of passengers are stranded in Jammu and Kashmir as railway authorities have cancelled over 40 trains since Friday due to an ongoing agitation by farmers.
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💡Ethical Case Law A Week💡
🎯False Certificate issued by Member
📌Where a Chartered Accountant admitted before the Examination Committee that he had issued a certificate to a person that he worked with him knowing it to be false.
✍️Held, he was guilty of other misconduct.
(Page 98 of Vol. II of the Disciplinary Cases and pages 221-222 of December, 1955 issue of the Institute’s Journal - Judgement delivered on 7th November, 1955).
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Know How to Generate Challan without Logging in the GST Portal
👉The Good and Service Tax Network (GSTN) has released the procedure for generating Challan without logging in to the Goods and Service Tax (GST) Portal.
👉In order to generate Challan without logging in to the GST Portal visit www.gst.gov.in, then navigate to services, then select payment and click on Create Challan Option, in GSTN or another ID field, enter your GSTN or other ID, enter the captcha text as instructed, and click on the proceed button.
👉After this, the ‘Reason for Challan’ page is displayed, select the reasons either as a monthly payment for quarterly return or any other payment.
👉Enter the challan details in the details of the Deposit Section and select the mode of payment from the payment mode displayed.
👉Under Monthly Payment for Quarterly Return (MPQR) you can either select 35% Challan/Fixed Sum Method under this you can generate a Challan pre-populated with 35% of the tax liability discharged from electronic cash ledger in the last filed quarterly Form GSTR-3B or 100% of the tax liability discharged from electronic cash ledger in the last filed monthly Form GSTR-3B. Or if challan is on the Self Assessment Basis then under this you can self-assess your current month’s liability (Net of Input Tax Credit) and can generate the challan for the same. It is noteworthy, the taxpayer cannot save a challan in the Pre-Login method.
👉The reasons for challan details will be shown on the create challan page and you can edit it as well. You can enter any amount irrespective of your liability, This will get updated in your Electronic Cash Ledger which can be utilized later.
👉The total challan amount fields are auto-populated with the total amount of payment to be made.
👉You can opt for any of the payment options. In the GSTN and Other ID for challan generation field, enter the GSTN or the other id and click the proceed button.
👉The challan is generated and you can also download the GST Challan by clicking on download.
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⚫Equity market sentiment this week will be guided by global trends in the absence of any major domestic triggers, while bourses may also see some volatility amid expiry of derivatives contracts.
⚫FM will launch the National Monetisation Pipeline that will include the Centre’s four-year plan to monetise its brownfield infrastructure assets.The Govt has planned a Rs 6-trillion pipeline of assets that can be monetised, which will include a range of assets put on the block for private sector participation.
⚫Interest rate hike worries weigh on banking and PSU debt funds. Since the start of the FY till July, banking and PSU debt funds have seen outflows of Rs 1,247.44 crore.
⚫Farmers seeking a hike in sugarcane prices continued to block rail tracks and a national highway in Jalandhar as a meeting between their representatives and state ministers here remained inconclusive.
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