MNRD & Associates

MNRD &ASSOCIATES, was founded by four Chartered Accountants having expertise in the field of Accounting, Finance, income tax and Internal & System Auditing Matters.

The firms is dynamic and vibrant new generation firm with an overall experience of more than eight years in the various areas such as Internal audit, System Audit, Statutory Auditing, Consultancy, Company Law Matters , Service Tax. The firm has provided high quality financial and management services. The firm takes the innovative approaches to identify the solutions which suits to the requirement of our clients enabling them to serve their customers better.

With a objective to provide each client with personalised service and quality work, by adhering to this principle, we are growing to become a successful and well respected firm. The firm has been using the most up to dated technology and resources in serving our clients.

Our Client ranges fromFirms, Private and Public Companies, Government organization and Non Profit making organization, corporation with multinational companies.

The firm is derived by the vision:

  • To become the most dynamic and innovative consultancy firm in India.
  • To provide the best quality and timely services to its client.
  • To provide trusted and value added business advice that helps the client to perform better in ?financial and statutory areas and to enable them to succeed in competitive market place.
  • To provide strategic solutions to our clientele.
  • To provide the target based solution to our clientele.
  • To provide all services under one roof with the total client satisfaction.
  • To develop specialization in various areas of Internal Audit and system audit.

News

12 Jun 24
Madras High Court Rejects GST ITC Mismatch Demand Due to Ignored Key Certificates
Deduction u/s 80G of Income Tax Act Allowable on CSR Expenditure: ITAT [Read Order]
Nirmala Sitharaman Will Take Charge as a Union FM in 3rd Term of Modi’s Cabinet
UP AAR: GST Applies to Sale of Residential Units, Classified as Services Not Immovable Property
11 Jun 24
Kerala High Court Ruling: An Assessee Can Claim Deduction U/S 80P By Filing ITR on Time
Mumbai ITAT: Income Earned from Reselling Subscription-Based Products Comes Under Royalty
Tamil Nadu AAR: ITC is Not Allowable for Rotary Car Parking Systems Under GST
Centre releases Rs 1.39 lakh crore installment of Tax Devolution to States
Nirmala Sitharaman Reappointed as Finance Minister in Modi`s Third Cabinet
Excel Utility of ITR-5 for AY 2024-25 is now available for filing
10 Jun 24
Central Excise Bill, 2024 Expected to be Introduced in Upcoming Budget Session
ICAI Seeks AI Proposals: Invitation to AI Firms for Finance and Accounting Solutions
09 Jun 24
Major Relief for Taxpayers: CPC (TDS) Reprocesses TDS Returns for FY 2023-24
Repo Rate Unchanged at 6.5% as RBI Elevates FY25 GDP Growth Outlook to 7.2%
08 Jun 24
Calcutta HC: Rejecting GSTR-9 Filing Form Can Cause Prejudice to Assessee’s Rights
CBDT Advises Taxpayers to Validate or Re-validate Bank Details for IT Refunds
Rajasthan AAR Sets 18% GST Rate on Infant Food Including Milk, Additional Ingredients
07 Jun 24
Major Relief for Taxpayers: CPC (TDS) Reprocesses TDS Returns for FY 2023-24
CBIC Chairman: New Rohtak GST Bhawan Will Improve Connectivity for Taxpayers in Haryana Districts
CBDT Advises Taxpayers to Validate or Re-validate Bank Details for IT Refunds
Delhi ITAT: Proper Approval from Authority is Required Before Passing Any Assessment/Reassessment in a Search Case
05 Jun 24
CBIC: No Recovery Actions Allowed Within Three Months of Tax Notice
CBDT Amends Form 27Q: Introduces Note 7A for Lower/No TDS Information
CBIC Issues Instructions No. 01/2024 for Recovery Proceedings Under GST
ITAT Upholds Taxpayer’s Explanation for Cash Deposits, Cancelling Addition Made Due to Lack of Explanation
Delhi HC Revises GSTIN Cancellation Date to GST Notice Date
04 Jun 24
CBIC Chairman Launches GSTN Back Office Application for CBIC officers
GSTN Adds Personal Hearing Option for GST DRC-01 Responses on Portal
Tax Officials Fail to Verify Sundry Creditors Before Invoking Section 41(1), ITAT Sends Matter to AO
GST Collection in May 2024 Reaches INR 1.73 Lakh Cr, Lower Than in April
ITAT New Delhi: No Addition Under Section 41(1) Without Proof of Liability Cessation
03 Jun 24
No Early Recover Of GST Before Stipulated Period Unless Critical, CBIC Issues Latest Instructions
GSTN Adds Personal Hearing Option for GST DRC-01 Responses on Portal
GST Revenue in May 2024 Hits Rs 1.73 Lakh Crore, Marks 10% YoY Growth
02 Jun 24
Income Tax Department Records Massive Seizure of Rs 1100 Crore During Lok Sabha Elections 2024
Income Tax Department Unveils MAC Utility for Filing ITR 1 to ITR 4 for AY 2024-25
ITR-5: Online & Offline Utilities for AY 2024-25 Now Accessible
01 Jun 24
Kolkata ITAT: Claim of Cash Deposits Can’t Be Denied Based on Assumed Spending
Madras HC Permits Contesting GST ITC Misplacement in 3B Notice with 10% Pre-Deposit
Mumbai ITAT: If No Advance Tax Query in Reassessment Proceedings Then IT Section 249(4)(b) Can’t Apply
31 May 24
State Government Employees Protest Against Flawed Tax Deduction System for Opting Old Regime
Madras HC: Officers Can’t Attach Property Under GST If Assessee Commences Appeal Proceedings
All About GST E-Way Bill 2 Portal with Main Benefits
Delhi HC Directs Officials to Submit Affidavit on GST Portal Technical Issues in Show Cause Notice
30 May 24
Fertilizer Companies May Get GST Relief Soon, Circular is on the Way
Finance Minister Hints at Reconsidering the 45-Day MSME Payment Rule
Bombay HC Rules ‘Transit Rent’ Non-Taxable, No TDS Deduction Required from Developer to Tenant
CBDT Exempts RBI from Higher TDS/TCS Rates for Non-Filing of Income Tax Returns
FM Sitharaman: Section 43B may be reverted if MSMEs Accept Delayed Payments Over 45 Days
29 May 24
ITAT Mumbai: Date of Possession Considered as Date of Acquisition of Property for Section 54 Deduction
GSTN: E-Way Bill 2 Portal to be released by NIC on 1st June 2024
RBI Launches PRAVAAH, Retail Direct Mobile Application and FinTech Repository
MCA Tightens Scrutiny on Beneficial Ownership Norms for Foreign-Owned Companies
CBDT Exempts RBI from Higher TDS/TCS Rates for Non-Filing of Income Tax Returns
Hyderabad ITAT: IT Section 115BBDA Doesn’t Apply to Household Organizations

Due Date Reminder

Jan Feb Mar Apr May June
July Aug Sep Oct Nov Dec
All
15 Jun 24 Deposit of First Instalment of Advance Tax (15%) by all assessees (other than 44AD & 44ADAD cases).
15 Jun 24 Issue of Salary TDS Certificates for FY 23-24.
15 Jun 24 Issue of TDS Certificates for Q4 of FY 23-24
15 Jun 24 Details of Deposit of TDS/TCS of May by book entry by an office of the Government.
15 Jun 24 Payment of ESI for May
15 Jun 24 E-Payment of PF for May.
20 Jun 24 Summary Return cum Payment of Tax for May by Monthly filers. (other than QRMP).
20 Jun 24 Monthly Return by persons outside India providing online information and data base access or retrieval services, for May.
25 Jun 24 Deposit of GST of May under QRMP scheme.
28 Jun 24 Return for May by persons with Unique Identification Number (UIN) like embassies etc to get refund under GST for goods and services purchased by them.
29 Jun 24 Return of Statutory Compliances within 90 days from the close of the first financial year after its incorporation and where applicable,the second financial year.
30 Jun 24 Deposit of TDS u/s 194-IB @ 5% on total payment of Rent more than 50,000 pm by individual or HUF (not liable to tax audit) during FY 24-25, where lease has terminated in May. (Else TDS is to be deposited on annual basis by 30 April of next year.)
30 Jun 24 Deposit of TDS on Virtual Digital Assets u/s 194S for May.
30 Jun 24 Annual Return of Securities Transaction Tax by Listed Cos/Mutual Funds for FY 2023-24 .
30 Jun 24 Application for registration/provisional registration, intimation, approval/provisional approval of Trusts etc.
30 Jun 24 Application for conversion of provisional registration to regular or renewal of registration /approval after 5 years of registration /approval of Trust, institution, etc.
30 Jun 24 Efiling of Annual Statement of Equalisation Levy for 2023-24. (Google Tax/Tax on Digital Ads by service recipient on payments above 1 lac to a foreign service provider)
30 Jun 24 Online annual updation of IEC details . If no changes, confirm same online. Else IEC will be deactivated.
30 Jun 24 Updation of Nomination details or express opting out in Demat/Trading/Mutual fund accounts to avoid deactivation.
30 Jun 24 Annual Return of Deposits by Companies other than NBFCs for FY 23-24.
30 Jun 24 Director’s Disclosure of Interest and Non-disqualification by Companies.
30 Jun 24 Holding of Board Meeting by Companies for Q1 .
30 Jun 24 Quarterly return of non-deduction at source by banks from interest on time deposit for January-March quarter.
30 Jun 24 Deposit of TDS u/s 194-IA on payment made for purchase of property in May.
30 Jun 24 Deposit of TDS on certain payments made by individual/HUF u/s 194M for May.

Update From MNRD

We have Redesigned website 16/01/2013