RJR CA.

Bipin Kumar Jha

(FCA, CS, M.Com)
DISA (ICAI)
CA. Yogesh Raheja
(FCA (AIR-6), CS, M.Com)
Registered Valuer (SFA)

WEEKLY BULLETIN
(Bulletin No. 217 | 30.07.2022)

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MASTER UPDATES OF THE WEEK

INCOME The due date of ITR (other than corporate assessees,
tax audit assessees, working partners of tax audit
TAX assessees) is 31.07.2022 (Sunday):
Note: The Late fees for delay in filing of ITR (i.e.
belated ITR) will be as under:
 Gross Total Income <= Rs. 2,50,000:
NO LATE FEES
 Other Cases
(Including mandatory ITR filing cases):
Total Income <= Rs. 5 Lakhs: Rs. 1,000 Late Fees
Total Income > Rs. 5 Lakhs: Rs. 5,000 Late Fees

GOODS & Attention Composition Taxpayers:

SERVICES The due date to file Form CMP-08 for Q1 of FY 2022-23

which normally was 18.07.2022 was extended by the
TAX (GST) Government till 31.07.2022.
In case any Composition taxpayer has not filed Form
CMP-08 for Q1 of FY 2022-23, the same can till
31.07.2022 without any Late fees.

CORPORATE & MCA has issued General Circular No. 08/2022 dated
26.07.2022 to include ‘Har Ghar Tiranga’ compaign as
ALLIED LAWS eligible CSR activity under Schedule VII to the
Companies Act, 2013.
CBDT has issued Notification No. 04/2022 dated
26.07.2022 in order to provide that now, LLPs can also
obtain PAN at the time of its incorporation through
FiLLip.
Note: Now on-wards, after generation of LLP
Identification Number (LLPIN), MCA will forward the
data of the LLP in Form 49A with income tax
department and it will process the PAN accordingly.
Compiled by:
FCA. Bipin Kumar Jha (9654977731), DISA (ICAI)
FCA. Yogesh Raheja (8506049347), CA (AIR-6), Registered Valuer (IBBI)

KEY PRACTICAL TAKE-AWAYS

INCOME Income tax Return – Important Beneficial Points:
TAX - To claim Foreign Tax Credit, the assessee needs to file
Form 67 on the Income tax Portal before filing ITR.
- A shop keeper, small businessmen living on rent,
cannot claim house rent as business expense but he
can claim deduction of such house rent paid under
Section 80GG (upto Rs. 60,000) by filing Form 10BA
on the Income tax Portal before filing ITR.
- Do not blindly choose ‘New Taxation Scheme’. In case
you have some future plans to take home loan
(deduction of Rs. 3,50,000 allowed in total), Invest in
some tax saving funds, there is no benefit to have ‘New
Taxation Scheme’ in future.

GOODS & The Input Tax Credit on Insurance related services

will be allowed as under:
SERVICES Particulars Allowability
TAX Health Insurance* Not Allowed
Life Insurance* Not Allowed
(GST) Vehicle Insurance# Not Allowed
Building Insurance Allowed
Inventory Insurance Allowed
*If to be provided to the employees as per Law, then allowed.
#Allowed if vehicle >13 passengers capacity or other eligible cases.

CORPORATE NPO Companies (registered under Section 8 of

Companies Act 2013 or Section 25 of the Companies Act,
& ALLIED 1956) need to file MGT-7 and not MGT-7A since such
LAWS Companies do not fall under the definition of ‘Small
Companies’ under the Companies Act, 2013.
Compiled by:
FCA. Bipin Kumar Jha (9654977731), DISA (ICAI)
FCA. Yogesh Raheja (8506049347), CA (AIR-6), Registered Valuer (IBBI)

UPCOMING DUE DATES

Compliances Due Dates
INCOME TAX
Filing of Statement cum Challan in Form 30.07.2022
26QB, 26QC, 26QD in relation to TDS (TODAY)
deducted u/s 194-IA, 194-IB, 194M for
the month of June, 2022.

Furnishing of TDS Return for the 31.07.2022

Quarter ending June-2022. (SUNDAY)

Filing of Income Tax Return (other than 31.07.2022

tax audit, corporate entities and (SUNDAY)
partner of the firm which is subject to
tax audit) for the FY 2021-22.

Payment of TDS/TCS for the month 07.08.2022

ending July, 2022.

TDS Certificates in Form 16B, 16C and 14.08.2022

16D in relation to Challan cum Statement
filed in Form 26QB, 26QC, 26QD in
relation to TDS deducted u/s 194-IA,
194-IB, 194M for the month of June,
2022.

Certificate in Form 16A in relation TDS 15.08.2022

Returns for the Quarter ending June,
2022.
Compiled by:
FCA. Bipin Kumar Jha (9654977731), DISA (ICAI)
FCA. Yogesh Raheja (8506049347), CA (AIR-6), Registered Valuer (IBBI)

GOODS & Compliances Due Dates

SERVICES Filing of CMP-08 (Quarterly Return for 31.07.2022

Composition Taxpayers) for quarter (SUNDAY)
TAX ending June, 2022.
(GST) Filing of GSTR 1 (monthly) for the 11.08.2022
month ending July, 2022.

Filing of IFF (QRMP Scheme) for the 13.08.2022

month ending July, 2022.

Filing of GSTR 3B (monthly) for month 20.08.2022

ending July, 2022.

Filing of GST PMT-06 (QRMP monthly 25.08.2022

challan) for month ending July, 2022.
Compliances Due Dates
CORPORATE
Due Date of AGM (Annual General 30.09.2022
& ALLIED Meeting) for FY 2021-22. OR
LAWS 15 months
earlier AGM
Filing of AOC-4 by One Person 27.09.2022
Companies (OPC) for FY 2021-22.
Filing of AOC-4 by Companies (Other AGM Date +
than OPC) for FY 2021-22. 30 days

Filing of MGT-7A by Companies for FY AGM Date +

2021-22. 60 days

Filing of ADT-1 by Companies for AGM Date +

auditor appointed in current AGM. 14 days
Compiled by:
FCA. Bipin Kumar Jha (9654977731), DISA (ICAI)
FCA. Yogesh Raheja (8506049347), CA (AIR-6), Registered Valuer (IBBI)

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