Class 3 Digital Signature is used for e-tendering and is considered to be the signature of the highest level. The importance of the Class 3 DSC lies in the fact that it enables safety of the user. An Individual who is applying for tenders through e-tendering route would always want to know that his transactions are safe. Class 3 Digital Signature has been designed to do exactly the same. There are two validity period of Class 3 Digital Signature – One year and Two Years. According to the Information Technology Act, Class 3 Digital Signatures…

The Indian Rupee is not taking halt against US dollar, falling continuously to touch the lifetime low of 71.10 against the greenback. In today’s session, the currency got some relief after the good GDP numbers but failed to sustain and fell to an all time low levels. There are multiple factors behind falling Indian rupee against US dollar. Global and Domestic Factors The rising tensions between two biggest economies – the United States and China has taken toll on India rupee. Both the countries are in a race to slap tariff on each other’s…

The government has extended due date of filing DIR-3 KYC without any late fee till 15th September. As a part of updating the registry, the Ministry of Corporate Affairs as is conducting KYC of all Directors of all companies annually through DIR-3 KYC form. This form is compulsorily required to be filed by every director who has been allotted a Director Identification Number on or before 31st March of a financial year and whose DIN is in Approved status. It is mandatory for Disqualified directors also. Late filing after 15th September would attract…

Taxpayers should regularly check their ITR status to ensure that the Income Tax Return has been accepted and processed. Income-tax Department has provided access to check Income-tax Return Status in user login. However, not every tax payer understands the meaning of checking the status means after they file the return. Different types of ITR status: Submitted and pending for e-verification: this status appears on the screen:  When you have filed the ITR but have not e-verified it. You have  sent the acknowledgement to the department but…

The government has extended the Income tax return filing date till August 31st, 2018 which means that you get more time to file the return carefully and ensure that there are no mistakes. However, in case you have received the notice from the Income Tax Authority, there is a process to go about it. Recently, there have been an increase in the number of Income tax notices sent by the department due to changes made in the income tax rules about which most of the income tax payers are not aware. Section 143(1) – Customary Notice - You don’t…

Being July 1st 2017  date fixed for GST roll out all over India many of us are worried about GST preparedness??  We have one good opportunity with GST training in Bangalore DBA Cosmic IT services pvt. Ltd. Bangalore with it's 16 years of rich industry experience in US and Indian financial market has launched 3 days and 2 days GST training session from 3rd of July to 7th of July  2017 . Following are the topics covered in these 5 days: One more greater advantage you will have once you attend session and write exam you will get Certificate…

Limited Liability Partnership is a separate legal entity in which the liability of each partner is limited to the contribution made by the partner. To form an LLP, there should be minimum partners. Recently, on 18th September, the Ministry of Corporate Affairs, by a notification in LLP (Second) Amendment Rules 2018, has introduced some major amendments under the LLP incorporation Rules to bring the Limited Liability Partnership incorporation in par with the Company Incorporation Procedures. According to the notification issued, the LLP related…

MCA has notified today to give another 15 days time to comply with DIR-3 ekyc for pending 2 million directors whose DIN status is turned to deactivated.  As you are aware the last date for filing form DIR-3 KYC without fee has expired on 15th September 2018. The process of deactivating the non-compliant DINs is in progress and is likely to be completed by 20th September 2018. Please note that the form DIR-3 KYC will not be available for filing during the pendency of this activity (from 16th September 2018 to 20th September 2018). DIR-3 KYC…

The ministry of Corporate affairs has announced conducting KYC verification for all the directors in every company by linking it to the mobile number and email ID. The steps would be taken to update the registry of all the directors annually through a new e-form – Dir-3 KYC. Under the new announcement, each director of every company who has Director identification Number on or before 31st March 2018 and if the DIN is approved would require to fill the form DIR-3 KKYC on or before 31st August 2018. The director would need to give the Unique Personal…

A registered dealer should file the GST returns in time, else it could attract the GST late fees and penalty. For instance, earlier a registered dealer should have filed the GSTR-1 return due for months of July to Nov 2017 and July to September 2017 by 10th Jan 2018. In case the details are missing, he would now be liable to pay late fees for Rs 200 (has changed after the CBEC notification about the same as on March 7th 2018) on the daily basis for the number of days that have passed after the due date until the day of finally filing the return. Further,…

Many of the GST users getting error as  " Checksum Validation : Failed " while offsetting liability ..in GSTR 3B filing. This is error from GST portal only and no need to panic. I have checked with GSTN help desk who claim team is working on this issue and it will be fixed soon. Generally this happens on the day when you make online payment and try to do Offset liability next day or else wait for GSTN team to fix the error. Like this there are many errors which GSTN throws up specially during peak filing season. It is always advisable to plan…

E-Way bill android app launched: If you have registered yourself at the website www.ewaybill.nic.in Than you can use the smoother new system to generate and manage your E-Way bill. Go to www.ewaybill.nic.in >log in with your user ID and Password >After login at the home page go to tab Registration . It is just below the reports tab >Go for Registration than Android >You will receive an OTP Verify the OTP >Give details of the android phone (IMEI Number) and a link will be sent to your submitted phone >Now go…