FIU-IND Registration Requirement VDA Service Providers with FIU-IND FIU-IND Mandatory registration: In accordance with the Prevention of Money-Laundering Act, 2002 (PMLA) and the Prevention of Money-Laundering Rules (PMLR), registration with FIU-IND is a mandatory prerequisite for all Virtual Digital Asset Service Providers (VDA SPs) engaged in activities notified by the Central Government under Notification S.O. …
Basic Comparison between Revised, Belated, and Updated Return Revised Return – Section 139(5) A revised return is filed when a taxpayer has already filed an original or belated return and later discovers any mistake, omission, or wrong statement (income missed, wrong head, incorrect deductions, etc.). Time limit for Revised Return – Section 139(5) like example …
Foreigners Visiting India Can Now Use India’s digital payments ecosystem Without an Indian Bank Account India’s digital payments ecosystem just became truly global. Foreign tourists and visitors can now make UPI payments in India without opening an Indian bank account, marking a major step in making India a cash-light, tourist-friendly economy. What’s Changed? Earlier, UPI …
500% TARIFF = INDIA–USA TRADE EARTHQUAKE Bill Threatening 500% Tariff on India for Russian Oil Trade Gets Trump’s Nod. A major escalation risk has emerged in global trade and geopolitics. US President Donald Trump has “greenlit” the bipartisan Graham–Blumenthal Russia Sanctions Bill, which if passed could allow the U.S. to impose tariffs up to 500% …
FAQs on DIR-3 KYC Q.1 – Who is susceptible to fill the form DIR-3 KYC? Ans : Persons who have DIN registered under their names on 31 March and haven’t filed Form DIR-3 KYC within the previous year are vulnerable to file Form DIR-3 KYC within the current year. Moreover, those who have already filed the Form but …
Missed Your Tax Deadline? You have Second Chance to Stay Compliant Missed your tax deadline? Don’t panic, there’s still a way to make things right! : Updated Income Tax Return (TR-U) introduced u/s 139(8A) of the Income Tax Act, allowing taxpayers to voluntarily correct errors or omissions in previously filed returns or even file a …
Using A Simple Interest Calculator To Understand Basic Return Scenarios When planning investments, understanding how returns are calculated is often the first step. While markets and instruments vary widely, some investors begin by exploring basic interest concepts before moving to more complex approaches. In this context, a simple interest calculator may help you understand how …
Applicability Check Threshold & Entity for GST E‑Invoicing Mandate (AATO INR 5 Cr) Applicability – AATO INR 5 Cr Threshold: E‑invoicing is mandatory for businesses whose Aggregate Annual Turnover (AATO) exceeds INR5 crore in any financial year since FY 2017‑18, based on PAN level—this includes all GST registrations under that PAN. From 1 April 2025, any entity with …
New Labour Codes impact on costs & A/cs Dec 2025 onwards In this blog mention the accounting implications of India’s new labour codes, which came into effect in November. ICAI (Institute of Chartered Accountants of India) has issued guidance that companies must reflect these changes in their financial statements starting from the December Quarter of …
GST RETURNS FOR NIL/ZERO TURNOVER—AS PER CGST Act, 2017 Is a return mandatory if turnover is NIL under GST? YES – Filing of Return is Mandatory. Legal provision is given in Section 39(1) of the CGST Act, 2017. Every registered person shall, for each tax period, furnish a return, whether or not any supplies of …