*Upload registered office details- MCA has released the form INC-22A*

It has become applicable from today and needs to be filed on or before 25th April, 2019. If not filed, then after 26th April, 2019 the company status will be shown as “ACTIVE non compliant”. Now the filing fees is NIL upto 25th April, 2019. Thereafter the filing fees will be Rs.10,000/- per form.   

The 14 requirements for this form are as follows:  
1) Photo of the registered office is required – One Photo of the exterior of the building showing the name of the building and another photo of the inside of the registered office is required. 

2) Photo of the Director signing by DSC is required. Therefore, please take photograph of the Director sitting inside the registered office is required. Please take frontal photo of the Director. 

3) Both photos to be in PDF format. 

4) If there is no activity in the registered office, then please show some activity. The name board of the company should be affixed outside the commercial premises of the company indicating therein the name, address, CIN, telephone no. e-mail id, website address, if any, GSTIN, if any. In case any registered office does not have any business activity, then please ensure change in registered office before filing of this form. 

5) E-mail id of the company – such as contact@abc.com or office@abc.com or if it is yahoo mail – companyname@yahoo.com. E-mail id in the name of directors, auditors or third persons will not be allowed.

6) E-mail id is subject to OTP;

7) In the address field, the latitude and longitude of the registered office is required to be given. This can be obtained from Google maps. 

8) List of all directors as on date of filing – all directors’ DIN should be in active mode. if the KYC of any Director is not done, then it is better to get to done immediately before filing this form 

9) Details of statutory auditors appointed;

10) Details of cost auditors, if any;

11) Details of MD, CEO or WTD of the company – in case company is required to have a MD or WTD as per the Rules, then it should have it or else appointed before filing of this form. MD required in case of listed companies or public companies with paid up share capital of more than Rs.10 crores. 

12) Details of company secretary – in case the company is required to appoint a company secretary as per the Rules and it does not have, then it is better to appoint one before filing of this form. CS is mandatorily required in listed companies, public companies with paid up share capital of more than Rs.10 crores or private company having paid up share capital of more than Rs.5 crores. 

13) Details of CFO – in case the company is required to appoint a CFO as per the Rules and it does not have, then it is better to appoint one before filing of this form. CFO is required in listed companies or public companies with paid up share capital of Rs.10 crores or more.  

14) Details of annual filing for financial year 2017-18. In case the annual e-forms i.e. AOC-4 & MGT-7 for FY 2017-18 is not filed, then it is better to have these forms filed first before INC-22A

* FinTax*
- Tax and Finance Consultant
📲 91 9892094003
📲 91 8828960174
📥 fintax.ca@gmail.com

31 March 2019 last date for Income Tax Return

The last date to file your ITR for the FY 2017-18 was 31 August 2018. Not filing your ITR on time can lead to a penalty, but there are also other consequences and inconveniences attached to the delay like,

1.Penalty for Late Filing u/s 234F
2.Reduced Time for Revising Your Return
3.Payment of Interest
4.Carry Forward of Losses is Not Permitted
5.Delay in Receiving Refunds

If you have missed the due date to file your return, you can still file it before 31 March 2019 by paying a late fee if applicable. Please note that the time limit for filing a IT return late for FY 2017-18 expires on 31 March 2019.

--
FinTax
Tax and Finance Consultant

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

*📒8 NEW FEATURES AT GST PORTAL*

🌴 *TDS/TCS Credit available for utilisation.*

☘ A new window has been enabled for claiming TDS/TCS credits. The  taxpayer has the option of accepting or rejecting the TDS/TCS credits available and filing their return, after which the credits get transferred to the cash ledger and can be used for making GST payments.

☘ This facility helps taxpayers easily identify such credits and take action accordingly.

🌴 *E-way bill data can be imported for GSTR-1.*

☘ The E-way bill (EWB) and the GST portal has now been integrated. The same gets automatically imported for the B2B and B2C (large) invoices sections as well as the HSN-wise-summary of outward supplies section. Users only need to verify the data and proceed.

☘ This has definitely saved both time and effort for a business person, as it avoids unnecessary data-entry. However, many businesses were performing this sort of reconciliation themselves using smart tools to ensure accuracy of data.

🌴 *List of preferred banks available for making payments.*

☘ A taxpayer can choose from a list of 6 preferred banks that will be auto-saved at the time of making payments. If he makes payment through a 7th bank account, the same will get added, and the least used bank account will get removed. He has the option to delete the bank accounts at any point in time.

☘ With this feature in place, the taxpayer need not enter bank details every time, as he can simply select a bank with the click of a button and proceed to make payment.

🌴 *Refund applications can be filed monthly for quarterly filers.*

☘ There is good news for taxpayers opting to make payments on a quarterly basis. They now do not have to wait for the quarterly filing of refund applications, as the same can be done monthly. However, a prerequisite for the same would be to ensure that GSTR-1 for the quarter has been filed.

☘ This will definitely help mobilise the working capital flows of a business as there is no longer a need to wait till the end of a quarter to apply for a refund.

🌴 *Appeals can be filed online and system-generated acknowledgements will be issued.*

☘ A taxpayer can file an appeal against an order passed by an appellate authority, or against an advanced ruling by an appellate authority on the GST portal. He even has the option to file an application with the appellate authority in the case of rectification of a mistake in order passed.

☘ In the event of an appellate authority failing to issue a final acknowledgement within the stipulated time, then a system generated final acknowledgement will be issued with the remark “subject to validation of certified copies”. This has simplified the process of filing appeals and also helps tracking the status of the same.

🌴 *Composition taxpayers can reply to SCN online for compulsory withdrawal.*

☘ For composition taxpayers, there is a simpler way to reply to show cause notices(SCN) now. This is in the case of a show cause notice being issued for compulsory withdrawal from the composition scheme, and if proceedings are initiated against the composition taxpayer, he now has the option to reply to show cause notices on the portal.

🌴 *Bank account details not mandatory at the time of registration.*

☘ Declaring bank account details are now optional at the time of registration for Normal, OIDAR and NRTP taxpayers. Previously, this was a mandatory requirement. The bank account details can be updated at a later date, which will be at the time of the first login.

☘ Hence, a GST registration number can be obtained without the same. New businesses who are in the process of obtaining bank accounts can simultaneously proceed with GST registration, thus saving time.

🌴 *Claiming of ITC and amendment of B2B invoices of 17-18 are re-opened up till March 2019.*

☘ Users can now amend B2B invoices of FY 2017-18. The facility to amend the GSTR-1 details of FY 17-18 was closed on filing the September 2018 return. The same has been made available while filing returns for the months of January to March 2019. Input tax credit of FY 2017-18 that was omitted and hence unclaimed up till September 2018 can be claimed now up to March 2019 as well. This was a much-needed remedy for taxpayers who made errors reporting any invoice in the past, or previously missed out claiming genuine credit.

☘ While there are updates being rolled out from time-to-time, users are still hoping to see a smooth system that is completely online and indefectible. In the future, users can look forward to more new updates that would familiarise taxpayers with the new return system that is likely to be introduced by July 2019.

*FinTax*
📲 91 9892094003
📥 fintax.ca@gmail.com

FinTax praised and published by Taxguru and study cafe

*#FinTax step head*

FinTax being the first in kind to publish summary and brief procedure on amendment on deposit rules for Companies.

Yesterday our post got praised and published on 2 renowned sites, link of which is provided below

https://taxguru.in/company-law/amendment-deposit-rules-companies.html

https://studycafe.in/2019/02/amendment-in-deposit-rules-for-companies.html

--
FinTax
Tax and Finance Consultant

+91 8828960174
+91 9892094003
Fintax.ca@consultant.com
Fintax.ca@gmail.com

For company e-Form ACTIVE (Active Company Tagging Identities and Verification) to be filled on or before 25th April 2019 in Form INC-22A

Every company incorporated on or before the 31^st December,2017 shall file the particulars of the company and its registered office, in e-Form ACTIVE (Active Company Tagging Identities and Verification) on or before 25th April 2019  in Form INC-22 A.

Provided that any company which has not filed its due financial statements under section 137 or due annual returns under section 92 or both with the Registrar shall be restricted from filing e-Form-ACTIVE, unless such company is under management dispute and the Registrar has recorded the same on the register.

Provided further that companies which have been struck off or are under process of striking off or under liquidation or amalgamated or dissolved, as recorded in the register, shall not be required to file e Form ACTIVE.

Provided also that the Director of the Company should also not be Disqualified due to non-filing of DIR-3 KYC and Disqualified under section 164(2).

Provided also that no request for recording the following event based information or changes shall be accepted by the Registrar from such companies marked as "ACTIVE non-compliant". unless " e-Form ACTIVE" is filed -

(i) SH-07 (Change in Authorized Capital);

(ii) PAS-03 (Change in Paid-up Capital);

(iii)DIR- 12 (Changes in Director except cessation);

(iv) INC-22 (Change in Registered Office);

(v) INC-28 (Amalgamation, de-merger

Where a company files "e-Form ACTIVE", on or after 26th April 2O19, the company shall be marked as "ACTIVE Compliant", on payment of fee of Ten thousand rupees".

The attachment to this form will be photograph of Registered office showing external Building and inside office also showing therein at least 1 Director/KMP who has affixed his her Digital Signature to this form”.

Please feel free to revert in case of any Clarifications/information required.

--
FinTax
Tax and Finance Consultant

+91 8828960174
+91 9892094003
Fintax.ca@consultant.com
Fintax.ca@gmail.com

MSME Form1 Date extended to 30 days from date of deployment of Form

MCA has extended MSME Form1 due Date in order to avoid inconvenience to stakeholders on account of various factors. It is stated the period of thirty days for filing initial return in MSME Form 1 as specified in Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Order, 2019 dated 22.01.2019 shall be reckoned from the date the said e-form is deployed on MCA 21 portal.

*FinTax*
📲 91 9892094003
📥 fintax.ca@gmail.com

Extension of due date for filling GSTR-3B for January- 2019

Due date of filing GSTR-3B for the tax period January, 2019 has been extended up to 22nd February, 2019.
Only for J&K it is extended up to 28th Feb 2019.
(Source - GST Website)

*FinTax*
📲 91 9892094003
📥 fintax.ca@gmail.com