CA NARESH KUMAR SANKHLA

Introduction:- The recent demerger of Jio Financial Services (JFSL) from Reliance Industries (RIL) has sent ripples of excitement through the financial sector. With its inclusion in prestigious indices like Nifty50 and BSE Sensex, JFSL's imminent listing has shareholders and investors eagerly awaiting its entry into the stock exchanges. This article delves into the significance of this move, sheds light on the pre-listing valuation, and explores the visionary approach of RIL's Chairman and MD, Mukesh Ambani. Shareholders' Awaited Crediting As anticipation builds for the listing date of JFSL, eligible shareholders of RIL have already received a notable boost. Shares of the newly demerged company have been credited to their demat accounts, creating a palpable sense of anticipation among investors. However, it's important to note that trading in these shares will only commence post-listing on the stock exchanges. The Nifty50 and BSE Sensex Inclusion JFSL's inclusion in

Introduction: Receiving an income tax notice can be an unsettling experience for anyone. It's essential to understand the implications and respond effectively to ensure a smooth resolution. In this comprehensive guide, we will delve into the intricacies of Income Tax Notice under Section 133(6), its significance, and how to respond strategically. We'll also address common questions related to this notice to equip you with the knowledge needed to navigate this process with confidence. What is Section 133(6) as per Income Tax Act? Section 133(6) of the Income Tax Act, 1961 empowers income tax authorities to gather information from third parties deemed relevant or necessary for proceedings under the Act. This provision plays a pivotal role in ensuring transparency, accountability, and accurate assessment of taxpayers' income and claims. Key Points to Understand: - Section 133(6) allows tax authorities to request information and documents from third parties to verify taxpayers&

Big news in the tech world today! Meta, the company behind Facebook, Instagram, and WhatsApp, has just dropped a bombshell by introducing its latest creation called 'Threads'. Mark Zuckerberg, CEO at Meta, introduced Threads as an expansion of Instagram. This exciting new app is all set to challenge the dominance of Twitter. So, gather 'round as we dive into the world of Threads and explore what makes it a game-changer in the social media landscape! What Exactly is Threads? Imagine a world where you can share your thoughts, updates, and ideas with the whole world in just a few characters. Well, Threads is a brand-new app that offers a platform for exactly that! It's like Twitter but with a fresh Meta twist. You can follow your friends, celebrities, influencers, and even your favorite brands. Threads is all about short and snappy messages that keep you connected and in the loop. A Seamless User Experience: Threads has been designed to provide users with a seamless and in

Recent notification issued by CBIC with respect to Standard Operating Procedure (SOP) for Scrutiny of GST Returns for FY 2019-20 onwards. Earlier CBIC had rolled out a module for automated scrutiny of GST returns. The module enables tax officers to carry out scrutiny of GST returns selected on the basis of data analytics and risks identified by the System.  Selection of returns for scrutiny will be done by the Directorate General of Analytics and Risk Management (DGARM) based on various risk parameters identified by them. The selected GSTINs (GST Identification Numbers) with the details of the risk parameters, in respect of which risk has been identified for a particular GSTIN, and the amount of tax/ discrepancy involved in respect of the concerned risk parameters (i.e. likely revenue implication), will also be shown on the ACES-GST application i.e scrutiny dashboard of the proper officer for their convenience. Step 1:- Tax officer would send scrutiny notice to an assessee in GST ASM

New GST E-invoicing notification:   The Finance Ministry has issued a notification announcing reduction in threshold limit for GST E-invoicing . Businesses with a turnover of ₹5 crore or more will be required to adopt e-invoicing from August 1, whereas the current threshold stands at ₹10 crore.  E-invoicing was initially implemented in 2020 for large companies with turnover of more than Rs 500 crore, and within 3 years the threshold has now been lowered to Rs 5 crore. E-invoicing for business-to-business (B2B) transactions was made mandatory under GST law for companies with annual revenues over Rs 500 crore starting on October 1, 2020, and then for those with annual revenues over Rs 100 crore starting on January 1, 2021. Companies that had a turnover of more than Rs 50 crore started producing B2B e-invoices from April 1, 2021. from April 1, 2022, the barrier was reduced to Rs 20 crore. The threshold was further reduced to Rs 10 crore as of October 1, 2022. 

Let's start with Walmart as an illustration of a business that has successfully employed big data to enhance its supply chain. Walmart can forecast consumer demand and improve its inventory management procedures by employing data analytics to track weather patterns, traffic, and social media trends. As a result, the company has been able to improve on-shelf availability and decrease stockouts, which has increased sales and customer satisfaction. Data can be used by small businesses to obtain comparable outcomes. These companies also have access to a variety of sources that may be used to collect data for analysis, such as email marketing reports, sales receipts, social media analytics, website analytics, streaming data from connected devices, publicly accessible data, and data lakes.  Small firms may use data analytics to make better decisions, understand consumer behavior's, and ultimately increase performance and profitability by utilizing various data sources. Big data can