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Urban Improvement Trust Udaipur Tax Exemption – Notification No. 62/2023
The Ministry of Finance has issued Notification No. 62/2023, dated 16th August 2023, detailing specific tax exemptions for the ‘Urban Improvement Trust Udaipur.’ The notification comes after an Order...
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New Income Tax Rules on Taxation of Life Insurance Policy Receipts
The Ministry of Finance has issued Notification No. 61/2023, dated 16th August 2023, pertaining to a new amendment in the Income Tax Rules of 1962. This Sixteenth Amendment focuses on the computation...
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SEBI Voluntary Delisting Norms Review 2023
Introduction: Explore the Consultation Paper Review of Voluntary Delisting Norms under SEBI’s Delisting of Equity Shares Regulations, 2021. This analysis delves into the objectives, background, sub-gr...
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Appeal for GST Amnesty for year 2017-20: Penalties, Interest & ITC
The Karnataka State Tax Practitioners Association has recently submitted an extensive request to the Honourable Minister of Finance, Smt Nirmala Sitaraman. The request primarily focuses on providing a...
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Equilibrium between GST & Personal Income Tax Contributions to India’s GDP
The interplay between taxation and economic development is a complex and dynamic phenomenon that often mirrors the broader financial landscape of a nation. A recent report released by the Finance Mini...
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Breaking: Rs 15,000 Crore Tax Evasion Exposed in Insurance Sector as I-T Department Wraps Up Probe
Introduction In a significant development, the Income Tax (I-T) department has wrapped up its extensive investigation into insurance companies, exposing a staggering tax evasion totaling over Rs 15,00...
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IRDAI’s Quantitative Impact Study -1 on Indian Risk-Based Capital Framework
Introduction: The Insurance Regulatory and Development Authority of India (IRDAI) is driving the development of the Indian Risk-Based Capital (Ind-RBC) Framework to enhance the capital adequacy of ins...
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Monsoon Session of Parliament 2023: Key Bills and Productivity
The Monsoon Session of Parliament for the year 2023 has drawn to a close, leaving behind a trail of significant legislative accomplishments and advancements. Spanning 23 days and 17 sittings, this ses...
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Health & Wellness Celebrity Influencer Guidelines
Introduction: In the world of health and wellness, influencer endorsements play a significant role. To ensure transparency and accuracy, guidelines have been established for health and wellness celebr...
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Impact of Minimum Export Prices on Commodities: Analysis
Introduction: The imposition of Minimum Export Prices (MEP) is a crucial policy mechanism used by the Indian government to regulate and balance the volume and competitiveness of commodities for export...
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Review of framework for borrowings by Large Corporates
The Securities and Exchange Board of India (SEBI) has published a consultation paper aimed at revising the existing framework for borrowings by large corporates. The consultation paper seeks to gather...
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ICAI Announces Relaxation for Old Course Students to Commence 3 Years of Practical Training
In a recent announcement, the Institute of Chartered Accountants of India (ICAI) has provided a significant relaxation for students under the Old Scheme of Education and Training, aimed at addressing...
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CAG Report on ICES IT Audit: Findings & Recommendations
The Comptroller and Auditor General of India (CAG) has released a comprehensive report on the IT audit of the Indian Customs Electronic Data Interchange System (ICES). The report, numbered 14 of 2023,...
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Notification under 10(46) in case of State Pollution Control Board Odisha
Introduction: Delve into the specifics of Notification No. 60/2023 issued by the Ministry of Finance, highlighting the tax exemption for the State Pollution Control Board Odisha. Dated 10th August 202...
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CBDT notifies Chandigarh Building & Other Construction Workers Welfare Board U/s. 10(46)
Notification under section 10(46) in case of Chandigarh Building and Other Construction Workers Welfare Board, Chandigarh Introduction: Discover the details of Notification No. 59/2023 issued by the M...
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Jan Vishwas (Amendment of Provisions) Act, 2023
The Jan Vishwas (Amendment of Provisions) Act, 2023 is a significant legislative reform that targets the decriminalization and rationalization of 183 provisions in 42 Central Acts administered by 19 M...
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Clarification on Recent Income Tax Department SMS: What You Need to Know
In an effort to enhance tax compliance and streamline reporting processes, the Income Tax Department recently sent out an SMS to individuals, addressing concerns related to certain transactions report...
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Bhartiya Nyaya Sanhita, Nagarik Suraksha Sanhita & Sakshya Bill, 2023
Introduction In an extraordinary step towards modernizing and fortifying India’s legal framework, Shri Amit Shah, the Union Home Minister and Minister of Cooperation, introduced three groundbreaking b...
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Modernisation of Courts: Paving the Way for Digital Justice
The digital transformation of India’s judiciary has been a crucial endeavor to ensure accessible and efficient legal proceedings. The implementation of the eCourts Mission Mode Project, as part of the...
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Changes to National Pension Scheme (NPS): Government’s Plans and Consideration of Old Pension Scheme (OPS)
Introduction: This article provides insights into the changes planned for the National Pension Scheme (NPS) in India and the consideration of reverting to the Old Pension Scheme (OPS). It discusses th...