Respected Members:

Quotes of The Day: 

1. A Single Moment of Misunderstanding is so Poisonous that it makes us Forget the hundred Loveable Moments spent together within a Minute.

2. If you are Saluting Someone thinking that he will also do you, then that Salutation is Useless. Namaskar is done Because of Sanskar, not Because of Ego.

NICAI Updates; 

1. Daughter in Law cannot Claim Maintenance from Her Father in Law (FIL) if FIL not inherited any Estate from his son. Case Law Details Case Name : Laxmi & Anr Vs Shyam Pratap & Anr. (Delhi High Court). 

2. Donation to Mosque not allowable as Business Expense. Case Name : M.D. Noorudin Zariwala Vs CIT (ITAT Mumbai) Appeal Number : ITA No. 1708/MUM/2021 Date of Judgement/Order : 11/05/2022

?3. The due date for filing FORM GSTR-3B for the month of April, 2022 has been extended till 24th May, 2022 (refer notification No. 05/2022-Central Tax  dated 17.05.2022. 

4. The due date of payment of tax for the month of April, 2022 by taxpayers under QRMP scheme in FORM GST PMT-06 has been extended till 27th May, 2022 (refer notification No. 06/2022-Central Tax dated 17.05.2022)

5. GSTN Advisory. Few entries of ITC appear in GSTR-2A of April but not in GSTR-2B. In such cases, file GSTR-3B on self-assessment basis using GSTR-2A. 

6. Request to Register in the 2nd  Batch of the 30 CPE Hours (10 days) Virtual Certificate Course on Startup from 21.05.2022 to 19.06.2022conducted by the Committee on MSME & Start-Up at Delhi Fees: Rs. 4,500 + Rs. 810  (GST) = Rs. 5,310/-

Online Registration & Details :  https://learning.icai.org/committee/msme/certificate-course-on-startup-batch-2/ 

For details,Telephone: 0120-3045994, Mobile: 8130617979, E-mail: startup@icai.in

Kindly Join us at: 

ca raj chawalapho.jpg

With best regards

CA (Dr) Raj Chawla

Central Council Member of ICAI

B.Com (Hons), FCA, FCS, FCMA, LLB 

MIMA, DISA, MICA, Phd, ASA (Aust)

712, New Delhi House

27,Barakhamba Road, New Delhi-110001

Ph. Off. 011-43581083

Cell: 98110-81083

rajchawlaca@gmail.com


We wish you and your family a very Happy Navratri. May Maa bless all of us with Power, Happiness and Satisfaction. Jai Mata Di.

Quotes of the Day, 

1. Always be Thankful for the Bad Things in Life.They Open your Eyes to see Good Things you weren't Paying Attention to before.

?2. Like Birds, Let Us Leave Behind What We Don’t Need To Carry. Grudges, Sadness, Pain, Fear, And Regrets. Life Is Beautiful, Enjoy It.

? ?NICAI Updates;

?1. CBDT has notified new income tax return forms SAHAJ ITR-1, ITR-2, ITR-3, SUGAM ITR- 4, ITR-5, ITR-6, ITR-V and ITR- Ack, for the Financial Year 2021-22 [Assessment Year 2022-23], the ministry of finance said in a release on 1 April 2022.

2. CBDT notifies Section 206C(1G) [TDS on remittance through LRS exceeding 7 lakhs or overseas tour package] not to apply to individuals visiting India who are non-residents as per Section 6(1)/(1A).

3. GST income for the month of March was Rs. 1,42,095 crore, with CGST of Rs. 25,830 crore, SGST of Rs. 32,378 crore, IGST of Rs. 74,470 crore (including Rs. 39,131 crore collected on import of goods), and cess of Rs. 9,417 crore (including Rs. 981 crore collected on import of goods). The gross GST collection in March 2022 set a new record, surpassing the previous high of Rs. 1,40,986 crore set in January 2022.

?4. Wef (1.4.22), issue E-invoice if turnover exceeds 20 cr in any year from 2017-18. Accounts Software with Audit Trail for Cos postponed to 1.4.2023.

5. Extension/ Deferment of the following Due dates:
  • Implementation of Audit Trail software now shall be applicable from FY commencing on or after April 1, 2023.
  • CSR-2 extended upto  May 31, 2022.

6. CBDT issued Circular No. 08/2022 dated March 31, 2022 regarding the extension of timeline for electronic filing of Form No.10AB for seeking registration or approval under Section 10(23C), 12A or 80G of the Income-tax Act, 1961 to 30 September,2022.

7. DGFT issued Notification No. 64/2015-2020 dated March 31, 2022 to extend the validity of the existing Foreign Trade Policy (“FTP”) 2015-2020 till September 30, 2022  from March 31, 2022.

8. DGFT issued Public Notice No. 53/2015-2020 dated March 31, 2022 to extend the validity of the existing Hand Book of Procedures (“HBP”), 2015-20 till September 30, 2022.

9. National Credit Guarantee Trustee Company Limited (NCGTC) extended the Emergency Credit Line Guarantee Scheme (ECLGS) beyond March 2022, till March 2023.

10. Applicability of below mentioned provisions further deferred till 30/09/22 by the ICAI:
  • Responding to Non-Compliance with Laws and Regulations (NOCLAR) [S. 260 & 360]
  • Fees-Relative Size [Para 410.3 to R410.6]
  • Tax Services to Audit Clients [S 604]
1. All the Water in the Ocean could never Sink a Ship unless it got inside. Likewise All the Pressure of Life can never Hurt you unless you let them in.

2. Mind is not a Dustbin to keep Hatred, Anger and Jealousy But it is a Treasure Box to Store Love, Happiness and Sweet Memories.
 
     
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