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ICSI Proposes Compliance Certificates by CS for Small Companies
The Institute of Company Secretaries of India (ICSI), a statutory body under the jurisdiction of the Ministry of Corporate Affairs, has recently made a significant recommendation to the Government of...
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ICSI’s Suggestions for Simplifying e-Forms under Companies Act, 2013
The Institute of Company Secretaries of India (ICSI) recently submitted its suggestions to the Ministry of Corporate Affairs (MCA) regarding the simplification of e-forms filed under the Companies Act...
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Empower shareholders to appoint & remove Secretarial Auditors: ICSI suggests
The Institute of Company Secretaries of India (ICSI) recently sent a letter to the Ministry of Corporate Affairs, outlining concerns and recommendations about the appointment and removal of Secretaria...
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Clarify on admission of Indian Trusts as partners in LLPs: KSCAA
The Karnataka State Chartered Accountants Association (R), hereafter referred to as ‘KSCAA,’ represents the interests of Chartered Accountants in India. In a letter dated 5th September 2023, addressed...
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CBI Arrests DGFT Officers & MD in Bribery Case; 8 Get 4-Year Terms for Govt Revenue Loss
The Central Bureau of Investigation (CBI) has recently apprehended key officials from the Directorate General of Foreign Trade (DGFT) and a Managing Director (MD) of a private company in a significant...
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ICSI’s Advisory for SEBI & Stock Exchanges Compliance for Company Secretaries
Introduction: The Institute of Company Secretaries of India (ICSI) has recently issued an advisory that provides important guidelines for Company Secretaries in Practice. This advisory focuses on ensu...
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Over 88% of ITRs Processed for AY 2023-24 with 2.45 Crore Refunds Issued
The Ministry of Finance has released new data, indicating significant progress in the filing and processing of Income Tax Returns (ITRs) for the Assessment Year (AY) 2023-24. As of September 5th, 2023...
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Guidance Note on Tax Audit under Section 44AB
ICAI Guidance Note on Tax Audit under Section 44AB of the Income-tax Act, 1961 (Revised 2023) subject to amendments made by law, judiciary or administration, for the subsequent assessment years) Intro...
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Representation on adjustments (over & above 20% of disputed demand) by CPC
The Karnataka State Chartered Accountants Association (KSCAA) has submitted a formal representation to the Commissioner of Income Tax in Bengaluru, challenging the Central Processing Centre’s (CPC) ta...
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New RPU Version 4.7: Updates in e-TDS/TCS Returns for FY 2023-24
As of September 1, 2023, Return Preparation Utility (RPU) version 4.7 has been released, bringing several updates for the preparation of regular and correction quarterly e-TDS/TCS statements, effectiv...
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New File Validation Utility Versions: FVU 2.178 & FVU 8.2 for e-TDS/TCS Statements
The tax landscape is ever-changing, and with the commencement of FY 2023-24, two new versions of the File Validation Utility (FVU) have been released: FVU version 2.178 for quarterly e-TDS/TCS stateme...
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Indian Cyber Crime Coordination Centre (I4C): Alert on Counterfeit Emails
In today’s interconnected world, cybercrime is an increasingly alarming concern, especially when it involves impersonation of government bodies. One such critical issue that has recently come to light...
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Notification No. 76/2023-Income Tax Dated: 1st September, 2023
under section 10 sub section 46 of Income tax Act 1961 in case of Chhattisgarh, Uttarakhand, Madhya Pradesh, Punjab Real Estate Regulatory Authority. MINISTRY OF FINANCE (Department of Revenue) (CENTR...
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Notification No. 75/2023-Income Tax | Dated: 1st September, 2023
Notification No. 75/2023-Income Tax Dated: 1st September, 2023 under section 10 sub section 46 of Income tax Act 1961 in case of E-Governance Society, Department of Food, Civil Supplies and Consumer A...
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Notification No. 74/2023-Income Tax, Dated: 01.09.2023
Notification No. 74/2023-Income Tax Dated: 1st September, 2023 under section 10 sub section 46 of Income Tax Act 1961 in case of Rajasthan State Dental Council. Ministry of Finance (Department of Reve...
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Faux Pas of Income Tax Portal
Introduction: The Chartered Accountants Association, Surat, recently sent a pointed letter to the Finance Minister addressing concerns over errors in the Income Tax portal. These errors led to thousan...
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Representation on Incorrect Processing of Income Tax Returns Filed
KARNATAKA STATE CHARTERED ACCOUNTANTS ASSOCIATION (R) Date: 01st September 2023 To, Commissioner of Income Tax, CPC, Bengaluru Honourable Sir, SUBJECT: REPRESENTATION REGARDING INCORRECT PROCESSING OF...
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ICAI President’s Message – September 2023
Dear Professional Colleagues, “Sustainable development is the pathway to the future we want for all. It offers a framework to generate economic growth, achieve social justice, exercise environmental s...
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₹1.59 Lakh Crore GST Revenue, 11% YoY Growth in August 2023
The Ministry of Finance has recently announced significant developments in GST revenue collection during August 2023, showcasing a remarkable 11% year-on-year growth. August 2023 GST Revenue Collectio...
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Report of expert committee on ‘Onshoring Indian Innovation to GIFT IFSC’
International Financial Services Centres Authority (A statutory authority established by Government of India) Press Release Report of the expert committee on ‘Onshoring the Indian Innovation to GIFT I...