Chartered Accountant ( 公認会計士) (공인 회계사 )(CONTABILISTAS) (CONTADORES PÚBLICOS) (ДИПЛОМИРОВАННЫЕ БУХГАЛТЕРЫ СЧЕТОВОДИТЕЛИ) (会计师事务所) (COMPTABLES CHARTERES) (WIRTSCHAFTSPRÜFER) (сметководители) (MUHASEBE MÜTEAHHİTLİĞİ) (محاسبون قانونيون) (CHARTERED AKUNTAN)(Geoktrooieerde Rekenmeesters)(registeraccountants)(RAGIONIERI REGISTRATI)חשבונות רואי חשבון) (This blog is non-commercial and is used here to put important news only for the educational purpose of Students doing CA and CS.
Friday, May 21, 2021
Supreme Court allows personal bankruptcy cases on tycoons :-The economic times By Upmanyu Trivedi, BloombergLast Updated: May 21, 2021, 05:16 PM IST
ITR due date extension: Income Tax Return filing dates for AY 2021-22 extended. Check details By: Rajeev Kumar | Updated: May 20, 2021 7:05 PM Income Tax Return Due Dates Extended for AY 2021-22: The Central Government today extended the due date of filing ITR for Assessment Year 2021-22.:-Indian Express
Income Tax Return Due Dates Extended for AY 2021-22: The Government has extended the due date of filing ITR for Assessment Year 2021-22 for individuals by two months till September 30. The Central Board of Direct Taxes (CBDT) also extended the ITR filing deadline for companies by a month till November 30.
According to the income tax law, for individuals whose accounts are not required to be audited and who usually file their income tax return using ITR-1 or ITR-4 forms, the deadline to file ITR is July 31. The deadline for taxpayers, like companies or firms, whose accounts are required to be audited is October 31. These due dates have now been extended.
In a circular today, the CBDT said the extension of time limits is being given for certain tax compliances “to provide relief to taxpayers in view of the severe pandemic”.
Commenting on the extension of due dates, Archit Gupta, Founder, and CEO, ClearTax, said: “Various due date relaxations will reduce compliance burden for businesses that have been struggling in the current crisis. This also emphasises how critical it is for businesses to move their tax compliance fully online. The extension of due dates for various compliances for employers as well extension of tax filing due date for taxpayers is important in the current situation as the second wave of covid is raging through several states in India.
Form 16 deadline
The deadline for issuing Form 16 by employers to employees has been extended by a month till July 15, 2021, the CBDT circular said.
Various other due dates have also been extended to provide relief to taxpayers. These are:
- Due date for filing return of income for AY 2021-22 extended to 30th September, 2021 from 31st July, 2021 for Regular Assessees
- Due date of Filing Return of Income for Tax Audit Assessee – Extended to 30th November, 2021 from 31st October,2021
- Due date of furnishing Tax Audit Report extended to 31st October, 2021 from 30th September, 2021
- Due date of Filing Belated/Revised Return of income extended to 31st January, 2022 from 31st December, 2021
- Due date of Transfer Pricing Study Report extended to 30th November, 2021
- SFT Due date extended to 30th June, 2021 from 31st May, 2021
- Statement of Reportable Account – extended to 30th June, 2021 from 31st May, 2021
- TDS Statement for Q4 of FY 2020-21 extended to 30th June, 2021 from 31st May, 2021
- Form 16 Issue Date – extended to 15th July, 2021 from 15th June, 2021
Nangia & Co LLP Partner Shailesh Kumar told PTI that the extension of due dates is likely to provide some relief to taxpayers on the tax compliance front.
“However, for taxpayers, whose entire income tax liability is not discharged by TDS and advance tax and such shortfall is more than Rs 1 lakhs, they should endeavour to file their ITR within respective original due date to avoid the charge of interest u/s 234A, which is charged on filing ITR beyond the original due date at the rate of 1 per cent per month for every month/ part thereof after the original due date of filing ITR,” Kumar said.
On April 1, CBDT had notified forms for filing ITR for 2020-21 fiscal. No significant change was made in the forms to facilitate the taxpayers.
Thursday, May 20, 2021
Fretting over 30% crash in Bitcoin? Experts say it's a healthy correction, excellent opportunity to buy "Bitcoin's fall was expected for some time because nothing goes in just one direction. Additionally, we have also seen price rising over 50 percent in a single day, so there is no need to panic," says Siddharth Menon, co-founder & COO at WazirX. SWATI VERMA MAY 20, 2021 / 07:40 AM IST moneycontrolnews
Analysts at JPMorgan say that investors may also be exiting Bitcoin for gold, citing positioning data compiled on basis of open interest in CME Bitcoin futures contracts.
In one of the craziest trades, world's best-known cryptocurrency Bitcoin nosedived as much as 31 percent to $30,201.96 (over the past 24 hours) on May 19, sending shockwaves through the financial world. Other cryptos such as Ethereum, Dogecoin too were in a free fall.
According to cryptocurrency platform Coindesk, Ethereum plunged up to 30.35 percent to $2,385.18 in the last 24 hours while Dogecoin slid as much as 30 percent to $0.338528 in one day. At the time of writing this report, Bitcoin was trading at $35,890.96 (down 20 percent) and its market cap stood at $673.34 billion. From its all-time high of $64,829.14, the virtual currency has plunged as much as 53 percent. In the past seven days, the market-cap has fallen over $300 billion - half of RBI's forex assets, as tweeted by market expert Deepak Shenoy.
According to a Reuters report, cryptocurrency price declines last week were sparked by Elon Musk's reversal on Tesla accepting bitcoin as payment. "His subsequent tweets caused further confusion over whether the carmaker had shed its holdings of the coin," the report added.
Cryptocurrency bloodbath: Bitcoin plunges 30% in 24 hours, Ethereum tanks 40%
Further, China's announcement on May 18 banning financial institutions and payment companies from providing services related to cryptocurrency transactions exacerbated selling. China also warned investors against speculative crypto trading.
So, is it a sign of worry for crypto traders and investors?
Most analysts opine that volatility is the sole nature of the market and hence there is nothing to be perturbed about. In fact, it's a very healthy correction and market participants should utilise this correction to buy cryptos.
"Bitcoin's fall was expected for some time because nothing goes in just one direction. Additionally, we have also seen price rising over 50 percent in a single day, so there is no need to panic," says Siddharth Menon, co-founder & COO at WazirX.
"It is a healthy correction because $28,000 is a very good support level and $38,000 was Fibonacci support level earlier. The price is still within the limits...the danger zone would be if it breaches $19,000 zone which seems unlikely. We are still in a bull run phase and I don't see the crypto breaking below 24K zone," Menon said further.
Echoing similar views, Avinash Shekhar, Co-CEO of ZebPay, says, “A nearly 40% dip in the bitcoin price from its all-time high looks dramatic but is normal in many volatile markets, including crypto, especially after such a large rally. Such corrections are mainly due to short-term traders taking profits. Long-term value investors might call these lower prices a buying opportunity. Technical analysts would call this a test of the support level around $40,000. Neither type of investor would say that tweets are the underlying cause. Investors should invest in education first. Research the underlying value of Bitcoin, Ethereum, and other crypto assets as you might look at a company’s information before buying stocks."
Meanwhile, analysts at JPMorgan say that investors may also be exiting Bitcoin for gold, citing positioning data compiled on basis of open interest in CME Bitcoin futures contracts.
This shows "the steepest and more sustained liquidation" in Bitcoin futures since last October, they told clients, adding that it pointed to "continued retrenchment by institutional investors", Reuters reported quoting JP Morgan analysts.
Tuesday, May 18, 2021
JUST ON HILARIOUS NOTE ONLY -WITHOUT MALICE TO ANY ONE -MUST READ BY CITIZENS OF ISRAEL AND PALESTINE
Hilarious dog story Israeli Dog and Arab Dog : Time for some laughter....
The Israelis and Arabs realized that, if they continued fighting, they would someday end up destroying the whole world. So they decided to settle their dispute with an ancient practice: a duel of two, like David and Goliath. This "duel" would be a dog fight.
The negotiators agreed each side would take 5 years to develop the best fighting dog they could. The dog that won the fight would earn its people the right to rule the disputed areas. The losing side would have to lay down its arms for good.
The Arabs found the biggest, meanest Dobermans and Rottweilers in the world. They bred them together and then crossed their offspring with the meanest Siberian wolves. They selected only the biggest, strongest puppy of each litter, fed it the best food and killed all the other puppies. They used steroids and trainers in their quest for the perfect killing machine. When the 5 years were up, they had a dog that needed steel prison bars on its cage. Only expert trainers could handle this incredibly nasty and ferocious beast.
When the day of the big dog-fight finally arrived, the Israelis showed up with a very strange-looking animal, a Dachshund that was 10 feet long! Everyone at the dogfight arena felt sorry for the Israelis. No one there seriously thought this weird, odd-looking animal stood any chance against the growling Arab beast. All the bookies took one look and predicted that the Arab dog would win in less than a minute.
As the cages were opened, the Dachshund slowly waddled toward the center of the ring, watching the Arab dog. The Arab dog leaped from its cage and charged the giant wiener-dog. As he got to within an inch of the Israeli dog, the Dachshund opened its jaws wide and swallowed the Arab beast whole in one go! There was nothing left but a small puff of fur from the Arab killer dog's tail floating to the ground.
The stunned crowd of international observers, bookies and media personnel let out a collective gasp of disbelief and surprise. Eventually, the Arabs along with the press approached the Israelis, muttering and shaking their heads in disbelief. "We do not understand," said the Arabs' leader, "Our top scientists and breeders worked for 5 long years with the meanest, biggest Dobermans, Rottweilers and Siberian wolves, and they developed an incredible killing machine of a dog! What did you do?"*
Monday, May 17, 2021
I am putting forward some facts and request all to ponder over it without any political or other biases.:-All Indians must read this.
Contributor ChanderDhiman
Friday, May 14, 2021
A FEW LEXOPHILES FOR YOUR PLEASURE
Contributor Col RPSingh
A beautiful poem by Lee Tzu Pheng (Singapore Cultural Medallion winner)
Contributor AnandSood
Thursday, May 13, 2021
ISRAEL Vs.HAMAS
Contributor ChanderDhiman thru Whatsapp.
Wednesday, May 12, 2021
Tuesday, May 11, 2021
COVID 19:-COMPARISON BETWEEN US AND INDIA
Contributor VirinderDhar
ALL INDIANS WHO LOVE INDIA MUST READ THIS AS TO HOW THIS LADY CALLED BARKHA DUTT IS THE BEST EXAMPLE OF ANTI INDIA VULTURE MEDIA.I MYSELF RESIDE NEAR MEDANTA HOSPITAL AT GURUGRAM AND VERIFIED THE FACTS BEFORE PUTTING THIS ON MY BLOG.
Then, Barkha Dutt’s old father succumbed to Covid-19, unfortunately. But, the grieving daughter used every word to describe her father’s death to suit her propaganda. Selection of words is enough to influence readers deeply—My father’s last words, I am choking, treat me.
Friday, April 30, 2021
```Did you notice that the alphabet "C" has shot to prominence in this Covid-19 era?



