Scribd Logo
Upload

Welcome to Scribd!

  • 38 views

    RJR Weekly Bulletin #218

    Uploaded by

    vivsubs18
    This weekly bulletin from RJR CA provides key professional updates for the week. It notes that over 5.83 crore ITRs were filed for AY 2022-23 by July 31st, setting a new single-day record of over 72 lakh ITRs filed on July 31st. It also provides updates on GST such as a new "single click nil filing" option and upcoming due dates. Upcoming due dates are provided for income tax, GST, and corporate compliance. Practical takeaways on tax audit and GST input tax credit are also included.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    RJR Weekly Bulletin #218

    Uploaded by

    vivsubs18
    38 views6 pages
    This weekly bulletin from RJR CA provides key professional updates for the week. It notes that over 5.83 crore ITRs were filed for AY 2022-23 by July 31st, setting a new single-day record of over 72 lakh ITRs filed on July 31st. It also provides updates on GST such as a new "single click nil filing" option and upcoming due dates. Upcoming due dates are provided for income tax, GST, and corporate compliance. Practical takeaways on tax audit and GST input tax credit are also included.

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This weekly bulletin from RJR CA provides key professional updates for the week. It notes that over 5.83 crore ITRs were filed for AY 2022-23 by July 31st, setting a new single-day record of over 72 lakh ITRs filed on July 31st. It also provides updates on GST such as a new "single click nil filing" option and upcoming due dates. Upcoming due dates are provided for income tax, GST, and corporate compliance. Practical takeaways on tax audit and GST input tax credit are also included.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    38 views6 pages

    RJR Weekly Bulletin #218

    Uploaded by

    vivsubs18
    This weekly bulletin from RJR CA provides key professional updates for the week. It notes that over 5.83 crore ITRs were filed for AY 2022-23 by July 31st, setting a new single-day record of over 72 lakh ITRs filed on July 31st. It also provides updates on GST such as a new "single click nil filing" option and upcoming due dates. Upcoming due dates are provided for income tax, GST, and corporate compliance. Practical takeaways on tax audit and GST input tax credit are also included.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 6

    RJR CA.

    Bipin Kumar Jha


    (FCA, CS, M.Com)
    DISA (ICAI)
    CA. Yogesh Raheja
    (FCA (AIR-6), CS, M.Com)
    Registered Valuer (SFA)

    WEEKLY BULLETIN
    (Bulletin No. 218 | 06.08.2022)

    KEY FEATURES OF RJR BULLETIN

    Master Over 15,000 Published Every


    Updates Subscribers Saturday
    of the
    Week
    Bulletin
    Insights

    Useful for Concise,


    Professional & Informative and
    Students Handy

    FOR VIDEO BULLETINS, SUBSCRIBE TO OUR YOUTUBE CHANNEL


    ‘RJR PROFESSIONAL BULLETIN’
    FOR MORE UPDATES, VISIT OUR WEBSITE WWW.RJRCO.IN
    +

    MASTER UPDATES OF THE WEEK


    INCOME The Income tax department has informed that about
    5.83 crores of ITRs for AY 2022-23 filed till 31st July,
    TAX 2022. A new record has been made by the Income tax
    portal as over 72.42 lakhs ITRs have been filed on a
    single day i.e. on 31st July, 2022.
    Note: The department has informed that most of the
    taxpayers have done their due diligence by comparing
    the data of AIS (Annual Information Statement) and
    Form 26AS and filed their ITR accordingly.
    The e-filing help-desk team has assisted and resolved
    over 1.45 lakhs queries this year till 31st July, 2022.

    GOODS & GSTN has introduced ‘Single Click Nil filing of GSTR-1”
    SERVICES on the GST Portal. The taxpayer can file the Nil Return
    now by clicking on the ‘Nil Return’ option given on the
    TAX (GST) Top corner of Form GSTR-1.
    Note: Taxpayers without any Outward Supplies; AND
    without any amendment; AND without any DN/CN;
    AND without any advance.

    CORPORATE & MCA is launching MCA V3 Portal from 31st August,


    2022. In such a situation, it may happen that filing of
    ALLIED LAWS upcoming compliances (like DIR-3 KYC) may hamper.
    So, it is advisable to complete the compliance in
    relation to DIR-3 KYC well before time.
    Compiled by:
    FCA. Bipin Kumar Jha (9654977731), DISA (ICAI)
    FCA. Yogesh Raheja (8506049347), CA (AIR-6), Registered Valuer (IBBI)

    KEY PRACTICAL TAKE-AWAYS


    INCOME Tax Audit – Important Points:
    TAX - To claim the benefit of higher turnover limit (i.e. Rs.
    10 crores), the ‘5% limit’ needs to be checked for all
    the transactions whether or not related to business
    carried out by the assessee.
    - Chapter-VIA deductions needs to be checked in detail
    and reported accordingly in the Tax Audit Report.
    - Carefully choose the clause applicable to you for Tax
    Audit Purpose. For example, in case of
    Companies/LLPs required to have audit under any
    other law needs to select ‘Third Proviso to Section
    44AB’ instead of 44AB(a) or 44AB(b).

    GOODS & The Input Tax Credit on Building related services will
    be allowed as under:
    SERVICES Particulars Allowability
    TAX Construction Material purchase – Capital Not Allowed
    Construction Material purchase – Revenue Allowed
    (GST) Work Contract Service for Construction - Not Allowed
    Capital
    Work Contract Service for Construction – Allowed
    Revenue
    Building Insurance Allowed

    CORPORATE The due date of AOC-4 of OPC is not ’30 days from due
    date of AGM’ since in this case, AGM is not required to
    & ALLIED be held. In case of OPC, the due date to file Form AOC-4
    LAWS is 180 days from the end of financial year i.e. 180 days
    from 31.03.2022 is 27th September, 2022.
    Compiled by:
    FCA. Bipin Kumar Jha (9654977731), DISA (ICAI)
    FCA. Yogesh Raheja (8506049347), CA (AIR-6), Registered Valuer (IBBI)

    UPCOMING DUE DATES


    Compliances Due Dates
    INCOME TAX
    Payment of TDS/TCS for the month 07.08.2022
    ending July, 2022.

    TDS Certificates in Form 16B, 16C and 14.08.2022


    16D in relation to Challan cum Statement
    filed in Form 26QB, 26QC, 26QD in
    relation to TDS deducted u/s 194-IA,
    194-IB, 194M for the month of June,
    2022.

    Certificate in Form 16A in relation TDS 15.08.2022


    Returns for the Quarter ending June,
    2022.

    GOODS & Compliances Due Dates

    SERVICES Filing of GSTR 1 (monthly) for the 11.08.2022


    month ending July, 2022.
    TAX
    (GST) Filing of IFF (QRMP Scheme) for the 13.08.2022
    month ending July, 2022.

    Filing of GSTR 3B (monthly) for month 20.08.2022


    ending July, 2022.

    Filing of GST PMT-06 (QRMP monthly 25.08.2022


    challan) for month ending July, 2022.
    Compiled by:
    FCA. Bipin Kumar Jha (9654977731), DISA (ICAI)
    FCA. Yogesh Raheja (8506049347), CA (AIR-6), Registered Valuer (IBBI)

    Compliances Due Dates


    CORPORATE
    Due Date of AGM (Annual General 30.09.2022
    & ALLIED Meeting) for FY 2021-22. OR
    LAWS 15 months
    earlier AGM
    Filing of AOC-4 by One Person 27.09.2022
    Companies (OPC) for FY 2021-22.
    Filing of AOC-4 by Companies (Other AGM Date +
    than OPC) for FY 2021-22. 30 days

    Filing of MGT-7A by Companies for FY AGM Date +


    2021-22. 60 days

    Filing of ADT-1 by Companies for AGM Date +


    auditor appointed in current AGM. 15 days
    Compiled by:
    FCA. Bipin Kumar Jha (9654977731), DISA (ICAI)
    FCA. Yogesh Raheja (8506049347), CA (AIR-6), Registered Valuer (IBBI)

    FOR VIDEO BULLETINS


    Subscribe to our Youtube Channel

    Link: https://www.youtube.com/c/RJRProfessionalBulletin

    AND MANY MORE……

    You might also like