A new tax calculator has been put on the IncomeTaxIndia e-filing Website.

Enter age, income and total exemptions - it will tell you how much to pay in which tax regime, and which regime is better
- Revenue Secretary

Check Out :- https://t.co/FtvZ44hJdD

BANK AUDITS 2020

This year RBI havent sent lists to individual banks rather given a common link to the banks where surplus (other than 4 year term) auditors are available. 6th March is the last day to draw the auditors from the link . Thereafter appointment procedure will start.

*Text of Guidance Note on Audit of Banks, 2020 edition*
https://resource.cdn.icai.org/58602aasb47736-b.pdf

*Appendices of the Guidance Note on Audit of Banks, 2020 edition*
https://www.icai.org/post.html?post_id=16356

*Text of Master Circulars Issued by RBI*
https://www.icai.org/post.html?post_id=16357

*Text of Master Directions Issued by RBI*
https://www.icai.org/post.html?post_id=16358

*Text of Relevant Notifications, FAQs and General Circulars*
https://www.icai.org/post.html?post_id=16359

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Announcements regarding Repo, Reverse Repo Rates, EMI's etc : https://taxupindia.com/rbi-announcement-highlights-press-conference-on-27th-march-2020

PM CARES TAX BENEFIT :- https://taxupindia.com/pm-cares-donation-through-employer-can-claim-100-deduction-by-employee

Use of Electronic Signature for Signing Audit Reports and Certificates - (13-04-2020)

Announcement Link :- https://resource.cdn.icai.org/59024aasb48128.pdf

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Advisory for Bank Branch Auditors- 2019-20

It is to inform that Professional Development Committee,ICAI has issued an advisory for the Bank Branch Auditors for initiating the process of Statutory bank branch audit remotely to ensure timely and effective Bank Audit.

The said advisory has been emailed to all the Applicants whose names were appearing in the RBI Bank Branch Audit Panel. Members / CA Firms who have been allotted the Branch Audit of PSBs for the year 2019-2020,may please check their emails.

Announcement link :- https://www.icai.org/new_post.html?post_id=16444&c_id=219

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RBI Allows flexibility to public sector banks on statutory branch audit :- https://taxupindia.com/rbi-allows-flexibility-to-public-sector-banks-on-statutory-branch-audit

Specific Considerations while conducting Distance Audit / Remote Audit / Online Audit of Bank Branch under current Covid-19 situation released Yesterday https://taxupindia.com/advisory-for-statutory-bank-branch-auditors-by-icai

Clarification on Fees from a Single Client - (11-05-2020)

Link :- https://www.icai.org/new_post.html?post_id=16505&c_id=219

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RBI Allows banks to offer Moratorium on EMI for another 3 Months

#taxupindia #emi #rbigovernor #moratorium #MoratoriumExtension https://t.co/EV8gKueMfH

Upcoming changes in GSTN and impact on the GST return filing system https://taxupindia.com/upcoming-changes-in-gstn-and-its-impact-on-the-present-gst-return-filing-system

CA members can Claim the COVID grant from ICAI :- https://taxupindia.com/ca-members-can-claim-the-covid-grant-from-icai

Import data in GSTR-2A https://www.pib.gov.in/PressReleseDetailm.aspx?PRID=1649521#.X0pI833xZcU.whatsapp

Launch of GSTR-2B for the month of July 2020 https://www.pib.gov.in/PressReleseDetailm.aspx?PRID=1649520#.X0pJYFCew88.whatsapp

Extension of due date of furnishing of Income Tax Returns and Audit Reports for F.Y 2019-20 https://pib.gov.in/PressReleasePage.aspx?PRID=1667281

Reason behind Delay in A.Y 2020-21 Returns Process

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Changes in GST Rules from 1st Jan 2021 :- https://taxupindia.com/major-changes-in-gst-rules-effective-from-01st-jan-2021

ICAI Introduced One Time Scheme to generate missed UDINs in earlier period. https://taxupindia.com/icai-introduces-one-time-condonation-scheme-to-regularize-udins

30-12-2020 - CBDT Extends Due date for A.Y 2020-21 Returns to January and February 2021., check here :- https://taxupindia.com/cbdt-extends-due-date-of-income-tax-returns-for-a-y-2020-21-again

ICAI Suggests its members to Update UDINs, CBDT Given extension for updating UDINs by 15th feb 2021 : https://taxupindia.com/icai-suggests-its-members-to-update-udins-in-all-income-tax-forms