FinTax updates: May 2019

Friday, May 31, 2019

FinTax GSTN free accouting and billing software

Wednesday, May 29, 2019

Form 11 for LLP FY18-19 to be filled by 30th May 2019

FinTax reminder - Compliances are due for LLP for Financial Year ended 31st March 2019

Annual Return of Limited Liability Partnership (Form 11) to be filed before 30th May 2019 i. e. TODAY.

Penalty for Delay in filing of Form 8 / Form 11 is Rs 100 per day from the due date.

Such penalty is non refundable and there is no process to escape this penalty.

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Form 11 for LLP FY18-19 to be filled by 30th May 2019 https://fintaxupdates.blogspot.com/2019/05/form-11-for-llp-fy18-19-to-be-filled-by.html

RBI increases RTGS timings till 6pm from June 1

FinTax updates - RBI increases RTGS timings till 6pm from June 1

The Reserve Bank of India has extended the timings for customer transactions through Real Time Gross Settlement (RTGS) system.

📍 With effect from June 1, the RTGS timings for customer transactions (initial cut-off) will be 6:00 pm, instead of the present 4:30 pm.

👉 The time-varying charges for transactions in RTGS from 1:00 pm to 6:00 pm shall be Rs 5 per outward transaction, RBI said in its statement. After 6:00pm, customers will have to pay Rs 10 per outward transaction for remitting funds via the RTGS system.

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FinTax
Tax and Finance Consultant

+91 8828960174
FinTax.ca@consultant.com
FinTax.ca@gmail.com

Tuesday, May 28, 2019

Filing of a Statement of Specified Financial Transactions (SFT)

This is to bring to your attention to the provisions of Income Tax Law that require the Filing of a Statement of Specified Financial Transactions (SFT) in case if the Company enters into any of the specified transactions. The most common specified transactions are:

1. If the company has issued shares during the previous year (i.e F.Y 18-19) and has received from any person an amount totalling to INR 10 Lakhs or more (including share application money).
2. If the company has received cash payment exceeding INR 2 Lakhs from any person for sale of goods or service of any nature.

Kindly confirm regarding the applicability as the due date to file form SFT with the Income Tax department is 31st May, 2019.

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*FinTax*
Tax and Finance Consultant

+91 8828960174
Fintax.ca@consultant.com
Fintax.ca@gmail.com

Thursday, May 2, 2019

Form MSMED-1 and Form DPT-3 is now available on MCA portal

Please be informed that the Form MSMED-1 for filing return of MSME suppliers and Form DPT-3 for Return of deposits is now available for filing and execution on MCA portal.

The Last date for filing of MSMED will be 30th May 2019 and Form DPT-3 would be 29th June 2019.

Further also please be informed that now the data required(i.e borrowings of the Company) for filing of DPT-3 form would be till 31st March 2019 and not till 22nd January 2019. (Amended as on 30th April 2019).

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FinTax
Tax and Finance Consultant