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Intellectual Property Rights Policy Management
All You Need to Know The Intellectual Property Rights Policy Management (IPRPM) framework established by the Indian Ministry of Commerce & Industry encompasses eight types of intellectual property rig...
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Representation on Glitches in Income Tax Portal: Non-display of notices
This document is a representation by the Karnataka State Chartered Accountants Association (KSCAA) to the Chairman of the Central Board of Direct Taxes. The representation focuses on technical issues...
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Income Tax department warns against false refund claims & wrongful deductions
The South Central Railway’s Vijayawada Division has received a significant communication from the Chief Commissioner of Income Tax, Vijayawada. The letter highlights a concerning issue regarding false...
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Extension of ICSI UDIN Amnesty Scheme 2023 till 31.07.2023
THE INSTITUTE OF Company Secretaries of India IN PURSUIT OF PROFESSIONAL EXCELLENCE Statutory body of under Act of Parliament (Under the jurisdiction of Ministry Corporate Affairs) July 21, 2023 ICSI...
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Draft Revised ‘Guidance Note on Tax Audit under section 44AB
Exposure Draft of Revised ‘Guidance Note on Tax Audit under section 44AB of the Income-tax Act, 1961 (AY 2023-24) for Public Comments (Effective for the AY 2023-24 and subject to amendments made by la...
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ICSI approves minimum stipend of Rs. 5,000 per month
Summary of crucial decisions made by the ICSI Council in its 298th meeting held on 13th July 2023 – 1. Group Mediclaim Health Insurance Policy: The ICSI Council’s approval for launching a Group Medicl...
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Request to Abolish GST Reverse Charge Mechanism
In this letter, the Advocates’ Tax Bar Association addresses the Hon’ble Finance Minister to request the abolishment of the Reverse Charge Mechanism (RCM) for registered dealers, except for Government...
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Income Tax Exemption for IFSC Aircraft Leasing under section 10(34B)
The Ministry of Finance has issued Notification No. 52/2023-Income Tax, Dated : 20th July, 2023 under section 10(34B) of the Income Tax Act, 1961. The notification provides an income tax exemption for...
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DPIIT Issues Quality Control Orders for Wood Laminates & Insulated Containers
The Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce & Industry, has recently announced two new Quality Control Orders (QCOs) for ‘Resin treated compress...
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Consultation Paper on Prudential Norms for Clearing Corporations’ Exposure
The Securities and Exchange Board of India has released a consultation paper on prudential norms for exposure of clearing corporations (CCs). The paper aims to address concentration risks and ensure d...
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DGFT Advance Authorisation Scheme: Duty-Free Imports for Export Inputs
Inistry of Commerce & Industry’s Directorate General of Foreign Trade (DGFT) implements the Advance Authorisation Scheme, enabling duty-free import of inputs for export purposes. Recent enhancements i...
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Further Deferment of Peer Review Mandate – ICAI Announcement
The Institute of Chartered Accountants of India (ICAI) has made an announcement regarding the deferment of the second phase of the Peer Review Mandate. The decision to mandate the Peer Review process...
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AML & CFT Guidelines for Professionals with CoP (ICAI, ICSI, ICMAI)
We have published below AML & CFT guidelines for professionals with Certificates of Practice (CoP) from ICAI, ICSI, and ICMAI. These guidelines aim to prevent money laundering, terrorist financing, an...
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GST Council Newsletter for the month of June 2023
Six years after the rollout of the biggest indirect tax reform of India, the consistent monthly revenue of Rs 1.5 lakh crore from the Goods and Services Tax (GST) has established itself as the new nor...
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Appeal to Review the GST Council’s Decision on Online Gaming Taxation
The recent decision by the GST Council to tax online gaming at par with lottery and gambling has sparked controversy and criticism. This Representation by CAIT delves into the catastrophic implication...
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Govt launches CRCS – Sahara Refund Portal for Cooperative Society Depositors
Union Home Minister and Minister of Cooperation, Shri Amit Shah launches the CRCS – Sahara Refund Portal https://mocrefund.crcs.gov.in/ in New Delhi today This portal has been developed for submission...
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Reporting Entity under Prevention of Money Laundering Act, 2002: ICSI
The Institute of Company Secretaries of India (ICSI) has issued a communication regarding the reporting entity’s obligations under the Prevention of Money Laundering Act, 2002. This article provides a...
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Amendment to Income-tax rule 11UAC – Relocation of Fund & Movable Property
Ministry of Finance amends rule 11UAC of Income-tax Rules 1962, specifically addressing the relocation of funds and movable property vide Notification No. 51/2023-Income Tax | Dated: 18th July, 2023....
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Guidance for Filing Public Announcements via BSE & NSE Circular
Guidance on filing of public announcements through Stock Exchange – BSE and NSE Circular dt: July 14, 2023 SEBI vide its Notification No. SEBI/LAD-NRO/GN/2023/131 dated June 14, 2023 further amended t...
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Income Tax Rules 1962 Amendment: IFSC Proposals in Finance Act 2023
Amendment of the Income Tax Rules 1962 in view of IFSC related proposals in Finance Act 2023 The Ministry of Finance, under the Central Board of Direct Taxes, has issued Notification No. 50/2023-Incom...