Latest Certicom Updates

Certicom Updates

1. Income Tax: Infosys recognizes the ongoing challenges faced by some users and has engaged with more than 1,200 taxpayers directly to better understand their concerns. The company is focused on rapidly resolving these challenges while working closely with the Chartered Accountant community.

2. ITAT Mumbai has held that minimizing tax liabilities through lawful means is not illegal. The Assessing Officer cannot disregard a transaction just because it results in a tax advantage to the assessee. In the matter of Michael E Desa. Minimizations of the tax liability, as long as it is through legitimate tax planning and without using colourable devices, is not illegal at all,

3. CBDT releases ITR 6 Schema Changes for AY 2021-22

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4. CBIC has asked field offices to draw up an action plan so that no case of GST evasion is pending investigation beyond one year. In instruction to field formations, the CBIC has also asked GST officers to speed up investigation and issue show-cause notices in evasion cases, so that enough time is left with adjudicating authority to pass orders.

5. FSSAI: Wef 1.10.21, mentioning of FSSAI Registration no. on bills, cash memos etc. is mandatory in the case of food businesses.

6. ICAI Members who are entitled to vote at a Polling Booth in India but have gone abroad before 31st August 2021 and are unable to return to India may now exercise their vote (to be held on 3rd & 4th December 2021) by applying for Postal Voting Facility.

One Person Company Annual Filing- Due Dates!

E-Form AOC-4: Within 180 Days of the close of Financial Year. [Reference: Section 137(1) of Companies Act, 2013]

  • Eg. F.Y. 2020-21: The due date for Form AOC-4 shall be 27th September 2021. If we count 180 days from 1st April 2021.

Are you a freelancer? Key points to know about GST payment

E-Form MGT-7: Within 60 days from the date of AGM. [Reference: Section 92(4) of Companies Act, 2013]

  • Eg.: F.Y. 2020-21, If AGM is on 30/09/2021 then the due date of Form MGT-7 would be 28th November 2021. As we know, OPC does not require to hold AGM, yet the due date for filing shall be 60 days from the completion of 6 months from the end of the Financial Year, which means the due date shall be 28th November 2021.

Today’s Updated News

Certicom Updates

1. 30.11.2021 and 30.09.2021 is extended the date to upload 15G/H forms of Jun quarter and Payment under Vivad se Vishwas Scheme respectively.

2. SEBI barred Kotak Mahindra Asset Management, one of the country’s largest mutual fund managers, from launching any fixed maturity plans (FMPs) for six months and fined it for breaking rules and hurting investor interests.

3. GSTN has asked taxpayers who have not filed their pending GSTR-3B, especially from period November 2020 and afterwards, to do so at the earliest Taxpayers who have not filed GSTR-3B return for the past two months will not be allowed to file GSTR-1 return from next month,

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4. GST collections dipped around 4% to Rs 1.12 lakh crore in August, compared to Rs 1.16 lakh crore in the previous month, but policymakers and experts remained upbeat about revenues remaining strong in the coming months on account of improved economic activity.

5. Upcoming GST Council meeting on September 17 will focus on the extension of compensation cess as the Council may also look into duty inversion in specific sectors. States are demanding the extension of compensation cess for another five years.

Anchorage Infrastructure Investment Holding’s FDI request of Rs 15,000 crore has been approved by the CCEA.

Anchorage Infrastructure Investment Holding’s FDI request of Rs 15,000 crore has been approved by the CCEA.

The government approved a Rs 15,000-crore foreign direct investment (FDI) application for infrastructure investment from Anchorage Infrastructure Investment Holding Ltd, a subsidiary of a Canadian pension fund. The FDI proposal was accepted by the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, for investment in infrastructure and construction-development industries.

Transport and logistics, as well as downstream investment in the airport sector and aviation-related industries and services, may be among them.

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According to an official statement, the transaction also comprises the transfer of a stake of Bangalore International Airport Limited to Anchorage and a Rs 950 crore investment by the 2726247 Ontariao Inc in Anchorage Infrastructure Investment Holding Ltd.

OAC is the administrator of OMERS, one of Canada’s largest defined benefit pension plans, and 2726247 Ontariao Inc is a wholly-owned subsidiary of OAC.

Tax Benefits Available For Startups 

The investment will provide a significant boost to the infrastructure and building industries, as well as the airport industry. It will bolster the Indian government’s ambition to construct world-class airports and transportation infrastructure through private partnerships, according to the statement.

The investment will also provide a major boost to the recently announced National Monetisation Pipeline, according to the announcement (NMP). It will assist support the leasing of state-owned infrastructure assets to private operators, which includes assets such as highways, trains, airports, sports stadiums, power transmission lines, and gas pipelines.

Anchorage Infrastructure Investment Holding Ltd proposes to invest downstream in some of the NMP-affected sectors.


The investment will also result in direct job creation, according to the statement, because the sector in which Anchorage Infrastructure Investment Holding Ltd proposes to make downstream investments is capital- and employment-intensive.

The investment will also create indirect jobs in the construction and related industries, according to the statement.

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