Eid Mubarak to all….
Author: karthikandsunil
Happy Independence Day…
Income tax returns due date extended..
CBDT extend due date for filing income tax returns who need to file returns by July 31,2018 to August 31, 2018. See below for notification.
Directors KYC – Late fee of Rs.5000/- for delay in filing KYC
Ministry of Corporate Affairs vide notification dated 05-07-2018 amended Companies (Registration offices and fees) Rules, 2014, prescribes Fees/Late fee/Penalty for delay in filing Form DIR-3 KYC, which are as follows:
i) Fee Payable till 30th April of every financial year in respect of e-form DIR-3 KYC as at 31st March of the immediately preceding previous year: NIL
ii) Fee Payable after above due date: Rs.5000/-
For the Current Financial year no fee will be chargeable till 30th August, 2018 and fee of Rs.5000/- will be payable from 01st September, 2018.
MCA had earlier by Companies (Appointment and Qualification of Directors) fourth Amendment Rules, 2018, inserted Rule 12A which require every every individual who has been allotted a Director Identification Number (DIN) as on 31st March of a financial year as per these rules shall, submit e-form DIR-3-KYC to the Central Government on or before 30th April of immediate next financial year. Rule 11 is also amended which empowers the Central Government or Regional Director (Northern Region), or any officer authorised by the Central Government or Regional Director (Northern Region) shall, deactivate the Director Identification Number (DIN), of an individual who does not intimate his particulars in e-form DIR-3-KYC within stipulated time in accordance with rule 12A:
Know your due dates for Statutory Compliance – July 2018
|
KNOW YOUR DUE DATES |
||
|
July-18 |
||
| DATE | COMPLIANCE REQUIRED | FORM NO. / CHALLAN NO. |
| 07/07/2018 | INCOME TAX: Deposit of TDS/TCS collected during June, 2018 | 281 |
| INCOME TAX: Due date for deposit of TDS for the period April 2018 to June 2018 when Assessing Officer has permitted quarterly deposit of TDS under section 192, 194A, 194D or 194H. | 281 | |
| 10/07/2018 | GST: Last date for submission of details of outwards supply for the month June, 2018 for those having turnover more than Rs.1.50 crore and those opted for monthly returns | GSTR-1 |
| 15/07/2018 | INCOME TAX: Due date for issue of TDS Certificate for Tax Deducted Under Section 194-IA in the month of April, 2018 | 26QB |
| INCOME TAX: Upload the declarations received from recipients in Form No. 15G/15H during the quarter ending June, 2018. | 26QA | |
| INCOME TAX: Due date for issue of TDS Certificate for Tax Deducted Under Section 194-IB in the month of April, 2018 | 26QC | |
| INCOME TAX: Due date for furnishing of Form by an office of the Government where TDS for the month of April, 2018 has been paid without the production of a challan | 24G | |
| INCOME TAX: Quarterly statement in respect of foreign remittances (to be furnished by authorized dealers) for quarter ending June, 2018 | 15CC | |
| INCOME TAX: Quarterly statement of TCS deposited for the quarter ending 30 June, 2018 | 27Q | |
| EPF: Payment of EPF Contribution for June, 2018 | ||
| EPF: Consolidated Statements of dues and remittances under EPF AND EDLI for June, 2018 | 12A | |
| EPF: Monthly returns of employees who Joined/left the organisation in June, 2018 | 5/10 | |
| 18/07/2018 | GST: Returns , under Composition Scheme for the Quarter ended 30th June, 2018 | GSTR-4 |
| 20/07/2018 | GST: Details of Invoices and Payment pertaining to June, 2018 | GSTR-3B |
| GST: Return by a person supplying Online Information and Database Acess of Retrieval Services from a place outside India to an Non-Taxable online recepient referred to in Section 14 of the IGST Act, 2017 and Rule 64 of the CGST Rules, 2017 for the month of June, 2018 | GSTR-5A | |
| GST: Return for the month of Jun, 2018 by Non-Resident Taxable Person | GSTR-5 | |
| 21/07/2018 | ESI: Deposit of ESI Contributions and Collection for June, 2018 | |
| 30/07/2018 | INCOME TAX: Quarterly TCS certificate in respect of tax collected by any person for the quarter ending June 30, 2018 | 27D |
| INCOME TAX: Due date for furnishing of challan-cum-statement in respect of tax deducted under Section 194-IA in the month of June, 2018 | 26QB | |
| INCOME TAX: Due date for furnishing of challan-cum-statement in respect of tax deducted under Section 194-IB in the month of June, 2018 | 26QC | |
| 31/07/2018 | INCOME TAX: Quarterly statement of TDS deposited for the quarter ending June 30, 2018 | 24Q/26Q |
| INCOME TAX: Quarterly return of non-deduction of tax at source by a banking company from interest on time deposit in respect of the quarter ending June 30, 2018 | 26QAA | |
| INCOME TAX: Annual return of income for the assessment year 2018-19 for all assessee other than (a) corporate-assessee or (b) non-corporate assessee (whose books of account are required to be audited) or (c) working partner of a firm whose accounts are required to be audited or (d) an assessee who is required to furnish a report under section 92E | ITR 1,2,3,4,5 | |
| INCOME TAX: Statement by scientific research association, university, college or other association or Indian scientific research company as required by rules 5D, 5E and 5F (if due date of submission of return of income is July 31, 2018) | 3CF-I, 3CF-II, 3CF-III | |
| INCOME TAX: Application for exercising the option available under Explanation to section 11(1) to apply income of previous year in the next year or in future (if the assessee is required to submit return of income on or before July 31, 2018) | 9A | |
| INCOME TAX: Statement to be furnished to accumulate income for future application under section 10(21) or 11(2) (if the assessee is required to submit return of income on or before July 31, 2018) | 10 | |
| INCOME TAX: Due date for claiming foreign tax credit, upload statement of foreign income offered for tax for the previous year 2017-18 and of foreign tax deducted or paid on such income. (If the assessee is required to submit return of income on or before July 31, 2018.) | 67 | |
| GST: Last Date For Submission Of Details Relating To Outward Supply for the Quarter ending 30th June 2018, for those having turnover less than Rs.1.50 Crores. | GSTR-1 | |
Users are requested to verify the validity of content before taking informed decisions.
Directors of Company to file KYC annually…
As part of updating its registry, MCA would be conducting KYC of all Directors of all companies annually through a new eform viz. DIR-3 KYC to be notified and deployed shortly. The details are as follows:
Who has to file DIR-3 KYC?
Every Director who has been allotted DIN on or before 31st March, 2018 and whose DIN is in ‘Approved’ status, would be mandatorily required to file form DIR-3 KYC.
What is the last date for filing the same?
Form DIR-3 KYC needs to be filed on or before 31st August,2018.
What are the mandatory information in DIR-3 KYC?
- Unique personal mobile number
- Unique personal email address
- Verified by One Time Password (OTP)
Who has to file the form DIR-3 KYC?
The form should be filed by every Director using his own DSC.
Does the form needs any certifications?
Yes, The form should be duly certified by a practicing professional (CA/CS/CMA).
Whether the form needs to be filed by disqualified directors also?
Yes. Filing of form DIR-3 KYC by disqualified directors is also mandatory.
What are the consequences of non-filing of form DIR-3 KYC before due date?
- After expiry of the due date by which the KYC form is to be filed,the MCA21 system will mark all approved DINs (allotted on or before 31st March 2018) against which DIR-3 KYC form has not been filed as ‘Deactivated’ with reason as ‘Non-filing of DIR-3 KYC’.
- After the due datefiling of DIR-3 KYC in respect of such deactivated DINs shall be allowed upon payment of a specified fee only, without prejudice to any other action that may be taken.
Source: http://www.mca.gov.in
Eid Mubarak
Celebrating with you all the joy and warmth of Eid..
Assessment of CA Students after First and Second year of Article Training
The council has decided to assess students after completion of first and second year of practical training with online MCQ based tests. Students completing the 1st/2nd year in a quarter would be eligible to register for subsequent quarter. Based on the marks secured, students are given grades based on the marks obtained and the same will appear in the Final Mark Sheet. Students have chance to improve their grade by appearing for two more exam on payment of a nominal fees.
The first exam for those completed 1st/2nd year will be on August 26, 2018.
For more details, click on the link below for announcement by Board of Studies of ICAI issued on 12th June, 2018.
Know your due dates for statutory compliance – June 2018
| KNOW YOUR DUE DATES | ||
| Jun-18 | ||
| DATE | COMPLIANCE REQUIRED | FORM NO. / CHALLAN NO. |
| 07/06/2018 | INCOME TAX: Deposit of TDS/TCS collected during May, 2018 | 281 |
| 10/06/2018 | GST: Last date for submission of details of outwards supply for the month May, 2018 for those having turnover more than Rs.1.50 crore and those opted for monthly returns | GSTR-1 |
| 14/06/2018 | INCOME TAX: Due date for issue of TDS Certificate for Tax Deducted Under Section 194-IA in the month of April, 2018 | 26QB |
| INCOME TAX: Due date for issue of TDS Certificate for Tax Deducted Under Section 194-IB in the month of April, 2018 | 26QC | |
| 15/06/2018 | INCOME TAX: Due date for furnishing of Form by an office of the Government where TDS for the month of April, 2018 has been paid without the production of a challan | 24G |
| INCOME TAX: Quarterly TDS Certificate/Certificate for Tax Deduction at Source from Salary for the Quarter/Year Ended 3IST March, 2018 | 16/16A | |
| INCOME TAX: First Installment of Advance Tax for the AY 2019-20 | 280 | |
| EPF: Payment of EPF Contribution for May, 2018 | ||
| EPF: Consolidated Statements of dues and remittances under EPF AND EDLI for May, 2018 | 12A | |
| EPF: Monthly returns of employees who Joined/left the organisation in May, 2018 | 5/10 | |
| 20/06/2018 | GST: Details of Invoices and Payment pertaining to May, 2018 | GSTR-3B |
| GST: Return by a person supplying Online Information and Database Acess of Retrieval Services from a place outside India to an Non-Taxable online recepient referred to in Section 14 of the IGST Act, 2017 and Rule 64 of the CGST Rules, 2017 for the month of May, 2018 | GSTR-5A | |
| GST: Return for the month of May, 2018 by Non-Resident Taxable Person | GSTR-5 | |
| 21/06/2018 | ESI: Deposit of ESI Contributions and Collection for May, 2018 | |
| 29/06/2018 | INCOME TAX: Due date for e-filing of a statement by an eligible investment fund under section 9A in respect of its activities in financial year 2017-18. | 3CEK |
| 30/06/2018 | INCOME TAX: Due date for furnishing of challan-cum-statement in respect of tax deducted under Section 194-IA in the month of May, 2018 | 26QB |
| INCOME TAX: Due date for furnishing of challan-cum-statement in respect of tax deducted under Section 194-IB in the month of May, 2018 | 26QC | |
| INCOME TAX: Return in respect of securities transaction tax for the financial year 2017-18 | ||
| INCOME TAX: Quarterly return of non-deduction of tax at source by a banking company from interest on time deposit in respect of the quarter ending March 31, 2018 | ||
| INCOME TAX: Statement to be furnished by Alternative Investment Fund (AIF) to units holders in respect of income distributed during the previous year 2017-18 | 64C | |
| INCOME TAX: Report by an approved institution/public sector company under Section 35AC(4)/(5) for the year ending March 31, 2018 | ||
| INCOME TAX: Due date for furnishing of statement of income distributed by business trust to its unit holders during the financial year 2017-18. This statement is required to be furnished to the unit holders. | 64B | |
| GST: Last Date For Submission Of Details Relating To Outward Supply Of Unutilised Credit Of Vat/Central Excise And Vat/Central Excise/Customs Duty On Stock As On 30-06-2017. | GST-TRAN 2 | |
Ramdan Kareem…
Karthik & Sunil 