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IBBI Guidelines 2024: Interim Resolution, Liquidation and Bankruptcy Trustees
The Insolvency and Bankruptcy Board of India has issued guidelines on June 05, 2024, for recommending Insolvency Professionals (IPs) to act as Interim Resolution Professionals, Liquidators, Resolution...
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CBIC Implements Electronic Disbursal of Duty Drawback
Central Board of Indirect Taxes and Customs (CBIC) announced the electronic disbursal of duty drawback amounts directly to exporters’ bank accounts via the Public Finance Management System (PFMS) star...
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Income-tax (Sixth Amendment) Rules, 2024: New Note in TDS Form 27Q
Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, issued Notification No. 48/2024 – Income-Tax on June 4, 2024. This notification introduces the Income-tax (Sixth Amendment) R...
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ICAI Imposes 5-Year Debarment for Mobile Phone Use in May 2024 Exams
The Examination Department of the Institute of Chartered Accountants of India (ICAI) issued an important announcement on 4th June 2024, regarding stringent action against candidates who engaged in unf...
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ICAI Launches SPMT Portal for Self-Paced Module Tests
The Institute of Chartered Accountants of India (ICAI) continues to revolutionize its examination process with the introduction of the Self-Paced Module Test (SPMT) Portal. This significant developmen...
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CPIO is not bound to provide any advice/guidance or opinion to Appellant
In the realm of Right to Information (RTI) Act, a recent appeal challenges the boundaries of information access. The appellant contests the response to their RTI application, seeking clarity on the fa...
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ICAI President’s Message – June 2024
In his June 2024 message, ICAI President Ranjeet Kumar Agarwal highlights the crucial role of Micro, Small, and Medium Enterprises (MSMEs) in India’s economic future, emphasizing their contribution to...
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GST Council Newsletter For April 2024
The April 2024 GST Council Newsletter encapsulates significant discussions, revenue achievements, and updates within the Indian tax framework. The newsletter highlights the third National Coordination...
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CBDT notifies Amendment to Income Tax Form 27Q
Introduction: The Ministry of Finance, through the Central Board of Direct Taxes, has issued Notification No. 48/2024-Income Tax, dated 31st May 2024, exercising powers conferred by the Income-tax Act...
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Important Due Dates Under Income Tax Law - May 2024.
Important Due Dates Under Income Tax Law - May 20247 May 2024 Last date for depositing Tax Deducted/Collected for April 2024. For government offices, the tax should be credited to the Central Governme...
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Notification under 10(46A) in case of Mathura Vrindavan Development Authority
The recent Notification No. 47/2024-Income Tax issued by the Ministry of Finance grants significant tax exemption to the Mathura Vrindavan Development Authority under section 10(46A) of the Income Tax...
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SCN Reply - Response to Demand Notice - Appeal for Adjustment of Demand Raised due to Variance in Turnover Reported in GSTR-3B and GSTR-7.
Response to Demand Notice - Appeal for Adjustment of Demand Raised due to Variance in Turnover Reported in GSTR-3B and GSTR-7[Date]To, The Deputy Commissioner, Goods and Services Tax, [Office Address]...
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SCN Reply - Appeal for Amendment of Clerical Error Under Section 161 of the CGST Act, 2017.
Appeal for Amendment of Clerical Error Under Section 161 of the CGST Act, 2017[Date]To, The Deputy Commissioner, Goods and Services Tax, [Office Address] [City, State, ZIP Code]Respected Sir/Madam,I a...
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SCN Reply - Reply to Show Cause Notice regarding the discrepancies observed between GSTR-1 and GSTR-3B returns.
Reply to Show Cause Notice regarding the discrepancies observed between GSTR-1 and GSTR-3B returnsDate: [Date]To, The Assistant Commissioner, [Department Address]Subject: Reply to Show Cause Notice No...
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CBDT exempts RBI from Section 206CCA provisions (TCS Collection at higher rate)
In a significant development, the Central Board of Direct Taxes (CBDT) has issued Notification No. 46/2024-Income Tax Dated: 27th May, 2024 exempting the Reserve Bank of India (RBI) from the provision...
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CBDT exempts RBI from Section 206CCA provisions (TCS Collection at higher rate)
In a significant development, the Central Board of Direct Taxes (CBDT) has issued Notification No. 46/2024-Income Tax Dated: 27th May, 2024 exempting the Reserve Bank of India (RBI) from the provision...
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BCI Notice: Law Colleges Prohibited from Admissions for Academic Year 2024-2025 & Beyond
The Bar Council of India (BCI), the apex regulatory body for legal education and the legal profession in India, has issued a crucial public notice concerning the admission policies for the academic ye...
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SEBI Consultation Paper on Valuation Framework for AIFs
Introduction: The Securities and Exchange Board of India (SEBI) has released a consultation paper to gather feedback on proposed revisions to the valuation framework for Alternative Investment Funds (...
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CBDT notifies Cost Inflation Index for Financial Year 2024-25
The Ministry of Finance, through the Central Board of Direct Taxes (CBDT), issued Notification No. 44/2024-Income-Tax on May 24, 2024, detailing the Cost Inflation Index (CII) for the financial year 2...
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SEBI Consultation Paper: Expert Committee Recommendations for BRSR
The Securities and Exchange Board of India (SEBI) has released a consultation paper seeking feedback on the recommendations of the Expert Committee regarding the Business Responsibility and Sustainabi...