Accounts & Finance

Reading Time: 3 minutesAccording to Section 39 of the partnership Act 1932, the dissolution of partnership between all the partners of a firm is called the dissolution of the firm. That means the Act recognizes the difference in the breaking of relationship between all the Dissolution of Partnership Firm and between some of the partners; and it is
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Reading Time: 3 minutes2000 rupee note, According to the Latest statement of the Reserve Bank of India, RBI has decided to withdraw Rs 2,000 notes from circulation but it will continue as legal tender even after 30 September 2023, RBI has issued clarifications about Rs 2000 Notes discontinuation   Frequently Asked Questions on 2000 rupee note 1. Why
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Reading Time: 2 minutesThe 233rd meeting of Central Board of Trustees, EPF was held today in Delhi under the Chairmanship of Shri Bhupendra Yadav, Union Minister for Labour & Employment and Environment, Forest & Climate Change. The Vice-Chairmanship of Shri Rameshwar Teli, Union Minister of State for Labour & Employment, Petroleum & Natural Gas and Co-Vice-Chairpersonship of Ms.
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Reading Time: 2 minutesPublic Provident Fund (PPF) is a retirement planning-focused instrument, that was introduced by the National Savings Organization in the year 1968. PPF Account has a lock-in period of 15 years and it comes with an EEE (Exempt-Exempt-Exempt) tax status. The key feature is that the maturity amount and the overall interest earned during the period
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Reading Time: 2 minutesNew Table 3.1.1 in GSTR-3B, According to the provision of section 9(5) of CGST Act, 2017, Electronic Commerce Operator (ECO) is required to pay tax on supply of certain services notified by the government such as Passenger Transport Service, Accommodation services, Housekeeping Services & Restaurant Services, if such services are supplied through ECO. For reporting
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Reading Time: 2 minutesDe-Activation of IECs, This Trade Notice 18/2021-2022 is being issued in reference to the Notification No. 58/2015-2020 dated 12.02.2021, 11/2015-2020 dated 01.07.2021 and 16/2015-2020 dated 09.08.2021 whereby it was mandated by DGFT to all IEC holders to ensure that details in their IEC is updated electronically every year during April-June period (for which no user
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Reading Time: < 1 minuteGovernment of India has extended the dates of various compliances by Taxpayers under Goods and Services Tax system vide Notn No 12/2021-CT, dated 1st May, 2021, r/w Notn No 17/2021 CT dated 1st June, 2021, Notn No 14/2021-CT, dated 1st May, 2021,r/w Notn No 24/2021-CT, dated 1st June, 2021, Notn No 25/2021-CT, dated 1st June, 2021, Notn No 26/2021-CT, dated
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Reading Time: 2 minutesWaiver of interest and late fee to normal taxpayers (filing return on monthly or quarterly basis) and composition taxpayers, for the tax periods of March and April, 2021, GoI has granted waiver from payment of interest and/or late fee to normal (Monthly / Quarterly) & composition taxpayers for the tax periods of March and April,
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Reading Time: 2 minutesGSTR-1 through SMS, The CBIC has issued new guidelines to fill the NIL GSTR–1 form through SMS, to initiate the SMS facility, the taxpayers need to send SMS to 14409 as NIL<space>R1<space>GSTIN number<space>Tax period (in MMYYYY) A taxpayer may now file NIL Form GSTR-1, through an SMS, apart from filing it through online mode, on GST Portal. To file NIL Form GSTR-1 through SMS, the taxpayer must
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Reading Time: 4 minutesFree accounting software, Small and Medium Business were demanding support from Government for the Accounting software as the several small taxpayers were unable to afford Popular Accounting and Taxation Software Like Tally,Busy , Marg Etc because starting range for these software are from Rs 20000.00 (Twenty thousand only )  per year , which is a
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