Dec 302022
 

07th

TDS TDS Payment for November 2022.

10th

GST Return for authorities deducting tax at source – GSTR 7 for November 2022.
Details of supplies effected through e-commerce operators and the amount of tax collected – GSTR 8 for November 2022.

11th

GST Details of outward supplies of taxable goods and/or services effected – GSTR 1 for November 2022.

13th

GST Invoice Furnishing Facility (IFF) for November 2022 in lieu of GSTR 1 for QRMP Filers.
Return for Input Service Distributor – GSTR 6 for November 2022.

15th

P.F. PF Payment for December 2022.
ESIC ESIC Payment for December 2022.
TDS TDS Quarterly Statement (Other than Government Deductor) for October to December 2022.
Income Tax Due Date for Filling Tax Audit Report for F.Y. 2021-22.

18th

GST Quarterly Statement for composition taxable person – CMP 08 for October to December 2022.

20th

GST GSTR 3B for December 2022 if aggregate turnover exceeds Rs. 5 Crore.
Return for Non-Resident foreign taxable person – GSTR 5 for December 2022.

22nd

GST GSTR 3B for the month/quarter ended December 2022 if turnover is below Rs. 5 Crore for Gujrat, Madhya Pradesh, Chhattisgarh, Maharashtra, Telangana. Andhra Pradesh, Karnataka, Goa, Kerala, Tamil Nadu, Puducherry, Dadra & Nagar Haveli.

24th

GST GSTR 3B for the month/quarter ended December 2022 if turnover is below Rs. 5 Crore for the Rest of India.

31st

GST To opt out or in from QRMP for the period January to March 2023
TDS TDS Quarterly Statements (Other than Government Deductor) for October to December 2022.
Prof. Tax Monthly Return Tax Liability of Rs. 1,00,000/- & above for December 2022.
Income Tax Due Date to furnish the Audit Report for transfer pricing regulations for F.Y. 2021-22.

Software Solutions Available on:

TDS | PAYROLL | WEB PAYROLL | WEB HRMS | XBRL | FIXED ASSET |INCOME TAX| SERVICE TAX | DIGITAL SIGNATURE | ATTENDANCE MACHINE & CCTV | DATA BACKUP SOFTWARE | PDF SIGNER

Sensys Technologies Pvt. Ltd.

HO: 904, 905 & 906, Corporate Annexe, Sonawala Road, Goregaon East, Mumbai- 400 063.
Tel.: 022-6820 6100| Call: 09769468105 / 09867307971
Email: sales@sensysindia.com | Website: http://www.sensysindia.com
Branches: Delhi & NCR | Pune | Bangalore | Hyderabad | Ahmedabad | Chennai | Kolkata

Dec 192022
 

Penalty under section 221 is levied when there is a default in payment of tax. Under sub-section (1) of section 221, the assessing officer is empowered to impose a penalty where an assessee is in default or is deemed to be in default in payment of tax. The said penalty is leviable in addition to the amount of the arrears and the amount of interest payable under section 220(2). Further, in the case of continuing default, the assessing officer may direct to pay further amount or amounts by way of penalty, so, however, that the total amount of penalty does not exceed the amount of tax in arrears. However, such a penalty is discretionary and can be waived where reasonable cause exists for such default.

Here an attempt is made to explain and examine what constitutes the reasonable cause for not levying a penalty under section 221.

 

Depends upon the facts of each case


The exercise of discretion u/s 221 is not to be arbitrary but is dependent on the facts and circumstances of the case

 

No penalty where the reasonable cause is proved


According to the second proviso to section 221(1), the penalty cannot be levied where the assessee proves to the satisfaction of the assessing officer that the default was for good and sufficient reason.

 

Penalty leviable even if the tax paid before levy of penalty


Penalty under section 221 will be exigible even in a case where the tax is paid after the due date but before the levy of penalty.

 

Impact of the outcome of final order regarding default in payment of tax


According to sub-section (2) of section 221 whereas a result of any final order, the amount of tax with respect to the default in the payment of which the penalty was levied, has been wholly reduced, the penalty levied shall be canceled and the amount of penalty paid shall be refunded.

 

Financial crises for not levying penalties under section 221


The assessing officer passed an order under section 201 treating the assessee as the assessee in default as it had not remitted the amount collected by way of TDS to the government account during the relevant assessment year. The assessee did not file any appeal against the order under section 201 and remitted tax deducted at the source along with interest.

The assessing officer also initiated penalty proceedings under section 221.

The assessee said that it was facing severe financial hardship and the same constitutes a good and sufficient reason for not levying a penalty under section 221.

It is true that a mere default is not sufficient for the levy of penalty, but in the instant case, the assessee used the TDS amount to meet various business commitments. Further, it was continuously making defaults on payment of TDS to the government account, which is very serious in nature.

One can understand the financial difficulties the assessee was facing if it was in defaulter for a short period. But in this case, the assessee’s conduct was that it continuously defaulted the payment of the TDS amount to the government account.

The only reason the assessee mentioned for non-payment of TDS was financial difficulties, which under these circumstances, did not appear to be sufficient. Accordingly, the penalty was confirmed.

 

No waiver of penalty on grounds of payment of self-assessment tax


Penalty under section 221(1) cannot be waived merely on the ground that self-assessment tax is paid before such levy of penalty. There existed good and sufficient reasons to mitigate said default.

Dec 102022
 

What is an Exit Management System?

No matter how great your company culture, learning & development program, or business leaders are, there is one certainty: Employees will quit. You won’t be able to keep every employee, especially in this day and age, whether for a career change, to care for their newly formed family, or just because it’s time for a change. However, it’s crucial that you do an exit interview when someone leaves to evaluate the whole employee hr software and, as a result, find ways to boost engagement and retention.

 

The Exit management system is crucial because they give you a more in-depth understanding of your company culture, regular operations, management issues, and employee morale. An exit interview is conducted to evaluate your company’s entire employee experience and find ways to increase engagement and retention. The Exit management system also allows you to track leave management software.

 

Importance of Exit Management

1. Help to improve staff retention:- High staff turnover is expensive since it costs money to find, hire, and educate new employees, as you are aware. Therefore, firms always try to retain and grow their skills. Exit interviews are an excellent method to learn more about why employees choose to leave your company, which will help you find a solution to the problem of high turnover with employee HR software.

2. Improve culture and performance:- Exit interviews are objective because departing employees are more likely to be upfront and honest about their feelings about your business. The real reason an employee is leaving is more likely to come to light, and it might not be what you initially assumed or were told. They are more inclined, to be honest in their evaluation of your culture. This exit Interview system is best for HRM solutions.

3. Allows you to tackle issues:- Are there any matters that need your immediate attention and could lower risk? Your team or teams are experiencing some significant problems, and if these problems aren’t remedied right once, you risk losing more workers.

4. Improve learning and development strategies:- Exit interviews may clarify that your company needs a better strategy for learning and growth. Employee turnover is more likely if they don’t feel challenged or encouraged in their jobs.

Purpose of Exit Management

Time is equivalent to money in the business world. So why do they spend so much time conducting exit interviews?

This is so that such practices can, among other things, help firms establish benchmarks for their use of human resources:
1. Acquire Constructive Feedback:- Exit interviews are crucial for learning the business’s hidden strengths and shortcomings from the employees’ viewpoint.

2. Build a positive brand image:- Employees feel satisfied and talk favorably in public when they may voice their complaints about the company’s property.

3. Finding out the scope of improvement:- The departing employee can shed light on any human resource weaknesses that the organization still needs to consider.

4. Learn about Employees’ Perspective:- Every employee has a unique perspective on the business, the job, the people, and the workplace. The employer must be aware of this because the employee will represent it to the public.

Frequently Asked Questions:- 

Q1. What are the advantages of exit interviews?

A. When appropriately done, exit interviews can offer a steady stream of insightful feedback and insight on each of the three fronts. They can raise employee engagement and retention by disclosing what functions well or poorly within the company.

Q2. Do exit interviews matter?

A. One of the best things about exit interviews is that they may be a heartfelt and meaningful way to say goodbye to someone who helped you through difficult times.

Q3. What is the objective of the exit interview?

A. to identify areas where the business may make improvements, to ensure that employees feel satisfied with their service, and, in some cases, to persuade the employee to continue working under different conditions.

Dec 032022
 

All real estate projects are required to be registered with the RERA of the respective State so that authorities have jurisdiction over the projects. However, there is a dispute over the issue as to the date on which the requirement of registration under RERA is applicable i.e. on the date of receipt of the occupation certificate or completion certificate.

Requirement of Registration under RERA


Under the ‘Real Estate Regulation and Development Act, 2016’, each State of India has to appoint Real Estate Registration Authority to monitor and adjudicate real estate disputes. The relevant extract of section 3 of the Act relating to registration of the real estate projects with their concerned authority reads as:

(1) No promoter shall advertise, market, book, sell or offer for sale, or invite persons to purchase in any manner any plot, apartment, or building, as the case may be, in any real estate project or part of it, in any planning area, without registering the real estate project with the Real Estate Regulatory Authority established under the Act:

Provided that projects that are ongoing on the date of commencement of the Act and for which the completion certificate has not been issued, the promoter shall make an application to the Authority for registration of the said project within three months from the date of commencement of the Act:

(2) Notwithstanding anything contained in sub-section (1), no registration of the real estate project shall be required-

(b) where the promoter has received a completion certificate for a real estate project before the commencement of the Act

Requirement of Registration of ongoing projects under RERA


A plain reading of the aforesaid section shows that a completion certificate is mandatory (before the commencement of the Act) and in absence of the same, one has to go for registration with the RERA authority.

Meaning of ‘completion certificate’


Section 2 of the Act provides definitions of various terms. Accordingly, —

Completion certificate means the completion certificate, or such other certificate, by whatever name called, issued by the competent authority certifying that the real estate project has been developed according to the sanctioned plan, layout plan, and specifications, as approved by the competent authority under the local laws. [Section 2(q)].

Meaning of ‘occupation certificate’


Occupancy certificate means the occupancy certificate, or such other certificate, by whatever name called, issued by the competent authority permitting occupation of any building, as provided under local laws, which has provisions for civic infrastructures such as water, sanitation, and electricity—[Section 2zf].

Completion certificate Occupation certificate
Completion certification is available once the project is developed on an approved plan and layouts An occupation certificate is available once necessities like water and electricity are done for the project

 

Case study: [based on – Ruling of Punjab and Haryana High Court in Experion Developers (P.) Ltd. v. State of Haryana]


The date on which RERA “the Act” come into force = 01st May 20017

The date on which the occupancy certificate is received = 2nd March 2017

Whether the project is required to be registered under RERA?

Analysis:

There is a difference carved out in the Act itself as to what is a completion certificate and an occupancy certificate, unless the petitioner had obtained a completion certificate for the project in question, before the date that section 3 of the Act came into effect, i.e. 1st May 2017, it was necessarily required to get itself registered with the RERA authority.

A completion certificate still not having been obtained, simply obtaining an occupancy certificate or having applied for such certificate in terms of the Haryana Building Code, 2017, the Court would not consider the petitioner to be outside the purview of the jurisdiction of the RERA Authority.

Conclusion:

Mere obtainment of an occupation certificate before commencement of the Act will not absolve the requirement of registration of projects under the Act as the requirement is to have a completion certificate and if the same was not available on the date of commencement of the Act, the requirement of registration of the project with RERA authority is mandatory.

Dec 012022
 

Appended below is the Pan India Compliance calendar for December 2022, employer is under obligation to contribute towards some of the above-mentioned compliances for the welfare of the employees. Each of these compliances is again governed by a set of rules and formulas. It is proven to be a deliberate attempt to violate the provisions of the law, there could be imprisonment of the employer. Please, comply with the same in time to avoid any future non-compliance so that hefty penalties and fines are not charged by the respective dept.

Dec 012022
 

07th

TDS TDS Payment for November 2022.

10th

GST Return for authorities deducting tax at source – GSTR 7 for November 2022.
Details of supplies effected through e-commerce operators and the amount of tax collected – GSTR 8 for November 2022.

11th

GST Details of outward supplies of taxable goods and/or services effected – GSTR 1 for November 2022.

13th

GST Invoice Furnishing Facility (IFF) for November 2022 in lieu of GSTR 1 for QRMP Filers.
Return for Input Service Distributor – GSTR 6 for November 2022.

15th

P.F. P.F. Payment for November 2022.
ESIC ESIC Payment for November 2022.
Income Tax Advance Tax 3rd Installment for F.Y. 2022-23.

20th

GST GSTR 3B for November 2022 if aggregate turnover is above ₹ 5 crores. 
Return for Non-Resident foreign taxable persons – GSTR 5 for November 2022.

22nd

GST GSTR 3B for November 2022 if aggregate turnover is below ₹ 5 crores for Andaman & Nicobar Islands, Andhra Pradesh, Chhattisgarh, Dadra & Nagar Haveli, Gujarat, Goa, Karnataka, Kerala, Lakshadweep, Madhya Pradesh, Maharashtra, Puducherry, Tamil Nadu, Telangana.

24th

GST GSTR 3B for November 2022 if turnover is below ₹ 5 crores for the Rest of India.

25th

GST Monthly Payment for November 2022 through Challan PMT 06 for QRMP filers. 

31st

GST Annual Return – GSTR 9 & Reconciliation Statement in GSTR 9C as applicable for Financial Year 2021-22.
Prof. Tax Monthly Return Tax Liability of ₹ 1,00,000/- & above for November 2022.

Software Solutions Available on:

TDS | PAYROLL | WEB PAYROLL | WEB HRMS | XBRL | FIXED ASSET |INCOME TAX| SERVICE TAX | DIGITAL SIGNATURE | ATTENDANCE MACHINE & CCTV | DATA BACKUP SOFTWARE | PDF SIGNER

Sensys Technologies Pvt. Ltd.

HO: 904, 905 & 906, Corporate Annexe, Sonawala Road, Goregaon East, Mumbai- 400 063.
Tel.: 022-6820 6100| Call: 09769468105 / 09867307971
Email: sales@sensysindia.com | Website: http://www.sensysindia.com
Branches: Delhi & NCR | Pune | Bangalore | Hyderabad | Ahmedabad | Chennai | Kolkata