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    RJR Weekly Bulletin #341

    Uploaded by

    Kishan Thakur

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

    RJR Weekly Bulletin #341

    Uploaded by

    Kishan Thakur
    1 views5 pages

    Copyright

    © © All Rights Reserved

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    1 views5 pages

    RJR Weekly Bulletin #341

    Uploaded by

    Kishan Thakur

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    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. 341 | 14.12.2024)

    KEY FEATURES OF RJR BULLETIN

    Master Over 25,000 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
    X1+

    MASTER UPDATES OF THE WEEK


    INCOME Income Tax Department (ITD) reminds the taxpayers
    through e-campaign that the India receives detailed
    TAX information about financial accounts held by its
    resident in foreign jurisdictions. ITD is having the
    details of global income of its resident taxpayers and
    to identify taxpayers who may not have disclosed
    their foreign assets and income.
    It is crucial for taxpayers to comply with the
    disclosure reporting in Schedule FA (Foreign
    Assets) and Schedule FSI (Foreign Source Income)
    required in ITR. If taxpayers are not reported the
    same, it can be reported in Revised ITR upto
    31.12.2024.

    GOODS & GSTN has issued advisory on Table 8A and 8C of


    GSTR-9 (Annual Return) of FY 2023-24:
    SERVICES
    - Table 4, 5, 6 and 7 will show the data of current
    TAX (GST) FY only (except Table 6A which is auto-populated
    from GSTR-3B will show the figure of FY 22-23
    and FY 23-24). The break-up to be provided in
    Table 6 with reporting figures for FY 23-24 only.
    - Table 8A will be auto-populated from GSTR-2B
    (which will reflect the figure of FY 22-23 and FY
    23-24), Reporting of Table 8B, 8C and 13 shall be
    same as of last year.

    CORPORATE Govt. has passed Banking Law (Amendment) Bill,


    2024 in the Lok Sabha which seeks to make major
    & ALLIED changes such as ‘Nomination of upto 4 individuals’
    LAWS in Bank accounts, ‘fixing auditor remuneration by
    PSBs’ etc. and many other changes to streamline the
    law related to banking operations.
    Compiled by:
    FCA. Bipin Kumar Jha (9654977731), DISA (ICAI)
    FCA. Yogesh Raheja (8506049347), CA (AIR-6), Registered Valuer (IBBI)

    KEY PRACTICAL TAKE-AWAYS


    15.12.2024 (SUNDAY) is the last due date to pay 3rd
    INCOME
    Instalment of Advance Tax (75%) for FY 2024-25 and
    TAX the due date is non-working day of the Bank.
    As per circular no. 676 dated 14.01.1994, if bank is
    closed on the last due date of advance tax, assessee can
    make the payment on the next immediately
    working day, in such case interest of Section 234C
    shall not be levied.
    It is mandatory to pay tax electronically for all
    companies and all non-corporate assessees covered
    in tax audit. Such assessees can take the benefit of
    circular if payment is being made through physical
    form of NEFT/RTGS.

    GOODS & Penalties in case of Demand u/s 73 and 74:


    (for demands upto FY 2023-24)
    SERVICES
    Event Normal Case Fraud Case
    TAX (Section 73) (Section 74)

    (GST) Before issue of SCN


    Within 30 days of SCN
    0%
    0%
    15%
    25%
    Within 30 days from Higher of 10% of 50%
    order tax or Rs. 10,000
    After 30 days from order Higher of 10% of 100%
    tax or Rs. 10,000

    CORPORATE A company with pending dues cannot apply for


    voluntary strike off u/s 248 of the Companies Act,
    & ALLIED 2013. The Company must ensure that it has no
    LAWS outstanding dues towards Govt./Banks.
    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
    Payment of Advance Tax (3rd 15.12.2024
    TAX Instalment) for FY 2024-25.
    Furnishing of TDS Certificate in Form 15.12.2024
    16B, 16C, 16D and Form 16E TDS
    deducted u/s 194-IA, 194-IB, 194M,
    194S for the month of October, 2024.
    Filing of ITR for FY 2023-24 (AY 2024- 15.12.2024
    25) in case of TP Audit assessees.
    Furnishing of Challan cum Statement 30.12.2024
    in Form 26QB, 26QC, 26QD, 26QE for
    TDS deducted u/s 194-IA, 194-IB,
    194M, 194S for the m/o Nov, 2024.
    Filing of Belated/Revised ITR for FY 31.12.2024
    2023-24.

    GOODS & Filing of GSTR-3B (Monthly) for the 20.12.2024


    month of November-24.
    SERVICE TAX
    Filing of PMT-06 (Monthly payment for 25.12.2024
    (GST) QRMP) for the month of November-24.
    Filing of GSTR-9/9C (Annual Return/ 31.12.2024
    Reconciliation Statement) for the FY
    2023-24.
    CORPORATE & Payment of PF/ESI for the month of 15.12.2024
    November-24.
    ALLIED LAWS
    Holding First AGM in case of Companies 31.12.2024
    incorporated between 01.01.2023 to
    31.12.2023.
    Compiled by:
    FCA. Bipin Kumar Jha (9654977731), DISA (ICAI)
    FCA. Yogesh Raheja (8506049347), CA (AIR-6), Registered Valuer (IBBI)

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    Subscribe to our YouTube Channel

    Link: RJR Professional Bulletin - YouTube

    AND MANY MORE……

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