Kreston OPR Newsletter- October’21 Edition
Tuesday, 05 October 2021
Direct Taxation CBDT extends due dates for filing Income tax returns and various reports of Audit for Assessment year 2021-22 The Ministry of Finance on 9th September 2021 has extended the due dates for filing of Income Tax Returns and various reports of audit for the Assessment Year 2021-22 on considering the difficulties reported by the
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Kreston OPR Newsletter – Sep’21 Edition
Monday, 06 September 2021
Direct Taxation CBDT extends due dates for electronic filing of various Forms under the Income-tax Act, 1961. Central Electricity Authority provides officials the option to deduct TDS under new or old Income Tax rates The Central Electricity Authority through 11.08.2021 has provided the officials the option to deduct TDS under new or old Income Tax
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Kreston OPR Newsletter – Aug’21 Edition
Friday, 06 August 2021
Direct Taxation CBDT grants further relaxation in electronic filing of Income Tax Forms 15CA/15CB. The Central Board of Direct Taxes on 20th July 2021 has further granted relaxation in electronic filing of Income Tax Forms 15CA/15CB in view of difficulties reported by the taxpayers in the filing of forms online on the new e-filing portal.
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Section 206AB – Special Provision for Deduction of Tax at Source for Non-filers of Income-Tax Return
Thursday, 10 June 2021
The finance Act 2021 has introduced a new section called Section 206AB of the Income Tax Act 1961, which mandates the person paying the amount to deduct TDS in case of non-filing of an income tax return by the specified person. Specified Person: A person who has not filed the returns of income for both of the
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Section 194 Q: – TDS Deducted on Purchase of Goods.
Thursday, 10 June 2021
The Finance Act, 2021 has introduced new section 194Q which is effective from 1st July 2021. The provisions of new section 194Q require the specified buyer to deduct TDS on the purchase of goods from the resident seller. Let us understand this provision by answering some questions. When is TDS deductible under section 194Q? TDS is deductible if: The buyer
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Kreston OPR Newsletter – June’21 Edition
Thursday, 03 June 2021
Direct Taxation Extension of time limits of certain compliances to provide relief to taxpayers in view of the severe pandemic. The Central Board of Direct Taxes, in exercise of its power under section 119 of the Income-tax Act, 1961 (hereinafter referred to as “the Act”) provides relaxation in respect of the following compliances: CBDT extends time limit for assessing
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How MSMEs are embracing Digitalization in Accounting today
Monday, 14 December 2020
Micro, small and medium enterprises or MSMEs are an integral part of a country’s economy. In India, MSMEs don’t just support overall economic growth; they are strong drivers of the rural economy as well. Helping millions of households, MSMEs are playing an important role in socio-economic development in our time. 2020 is a year of
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What is RPA and How it Can Change the Face of Accounting in the Future?
Saturday, 12 December 2020
Robotic Processing Automation or RPA is a technological innovation involving artificial intelligence and automation to replace manual accounting processes related to audit, attest and tax work. RPA simply means programming software ‘bots’ to understand and execute everyday accounting tasks that take up much of an accountant’s time. The working of RPA is similar to a
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The Reason Why More Businesses Today Use Automation And Machine Learning To Empower Their Business Analytics.
Thursday, 10 December 2020
Business leaders today find themselves in control of massive data banks that they can access at the click of a button. A lot of data flows in from the different tools used in running of a business such as CRM software, payment gateways etc. But this wealth of information may not always help find the
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Kreston OPR Newsletter December
Tuesday, 08 December 2020
Direct Taxation CBDT to validate Unique Document Identification Number (UDIN) generated from ICAI portal at the time of upload of Tax Audit Reports. The Central Board of Direct Taxes vides its press release dated 26th November 2020 has decided to validate Unique Document Identification Number (UDIN) generated from ICAI portal at the time of upload
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