CORPORATE SOCIAL RESPONSIBILITY CSR is a concept whereby companies not only consider their profitability and growth, but also take care of the interests of society and the environment by taking responsibility for the impact of their activities on society, the environment, and the communities in which they operate. CSR refers to the belief that businesses […]
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E-INVOICES ARE MANDATORY FOR BUSINESSES WITH A TURNOVER OF RS.5 CRORE E-Invoicing/E-Invoice is a form of electronic billing which is increasingly mandated by Governments across the World due to tax evasion. In India, the Government introduced e-invoicing in mid of the financial year 2020 with businesses having aggregate turnover above Rs. 500 Crore. The limit
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TAXATION OF CRYPTOCURRENCY UNDER GST INTRODUCTION: Virtual digital asset means any form of information or code representing value exchanged and can be used in any financial transaction. The asset can be stored or transferred electronically. Virtual digital assets also include non-fungible tokens and any other digital asset specified by the central government but not Indian
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DOMESTIC MARKET PROMOTION (DMP) SCEHME INTRODUCTION: The Domestic Market Promotion (DMP) Scheme is introduced by the Coir Board in lieu of the Rebate Scheme. The DMP scheme is linked with the sales performance of the beneficiary/unit. The DMP scheme aims to provide incentives for better performance. PURPOSE OF THE SCHEME: The main goal of
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EXPORT MARKET PROMOTION SCHEME (EMP) Introduction: The Export Market Promotion Scheme (EMP) is a Central Government Scheme implemented by the Government of India through the Coir Board. This scheme aims to improve the export performance of the Indian Coir Industry. It is considered to be the largest producer and exporter of coir in the world
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OCI: WHO IS AN OVERSEAS CITIZEN OF INDIA? Overseas Citizenship of India (OCI) is a scheme introduced by The Citizenship (Amendment) Act, 2005 which provides permanent residency available to people of Indian origin and their spouses to live and work in India for an indefinite period. As of 2020, there are 6 million OCI card
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CHECKLIST FOR FORMS GSTR-9/9A AND GSTR-9C What is GSTR-9 (Annual Return)? Informational/ a consolidation of all GSTR Returns. What is GSTR-9C ( Reconciliation Statement)? Analytical statement on GST returns certified by GST Auditor/ CA/CMA for GST authorities to take necessary action. Checklist for Outward Supply: Taxpayers/Consultants should compare the figures of outward
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GOVT NOTIFIES CREDIT GUARANTEE FOR START-UPS WITH Rs.10 CRORE The government has notified a credit guarantee scheme for start-ups (CGSS) under which lenders will extend collateral-free loans up to Rs 10 crore to each eligible borrower. Loans or debt facilities sanctioned to an eligible start-up on or after October 6 can be covered under the
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COMPLIANCE CALENDAR FOR THE MONTH OF OCTOBER 2022 INCOME TAX COMPLIANCES AND DUE DATES: 07th October: Deposit of TDS & TCS 15th October: TCS returns for the quarter ending September 2022 31st October: TDS return for the quarter ending September 2022 31st October: Report to be furnished in Form 3CEB in respect of the
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STARTUP INDIA SEED FUND SCHEME What is Startup India Seed Fund Scheme? Easy availability of capital is essential for entrepreneurs at the early stages of the growth of an enterprise. Funding from angel investors and venture capital firms becomes available to startups only after the proof of concept has been provided. Similarly, banks provide loans
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