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ICAI releases Excel Utility based on Guidance Note on Audit of Banks
The Institute of Chartered Accountants of India Dear Professional Colleagues, The global economy is facing headwinds, and it is envisaged that India shall be emerging as the global growth engine with...
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GST revenues clock 13% growth Year-on-Year
₹1,60,122 crore gross GST revenue collected for March 2023 Second highest collection ever, next only to the collection in April 2022 Monthly GST revenues more than ₹1.4 lakh crore for 12 months in a r...
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2nd GST Invoice Registration Portal (IRP) by National Informatics Centre
GST eInvoice System eInvoice portal (from 1st April 2023) The 2nd Invoice Registration Portal (IRP) by National Informatics Centre (NIC) NIC is happy to introduce eInvoice2 portal. It is second portal...
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Rules for Manner of making PAN inoperative applicable from 01.07.2023
Rule 114AAA of the Income-tax Rules, 1962 related to Manner of making permanent account number (PAN) inoperative is applicable from 1st day of July, 2023. Government of India Ministry of Finance Depar...
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Consequences of PAN becoming inoperative – Rule 114AAA
Circular No. 03 of 2023-Income Tax Dated 28th March, 2023 F. No. 370142/14/2022-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi ***** Sub.: Co...
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Procedure for filling of application in Form No. 15C or Form No. 15D
Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income-tax(Systems) Notification No. 01/2023-Income Tax Dated: 29th March, 2023 Subject:- Procedure, format and sta...
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CBDT notifies Bhadohi Industrial Development Authority under section 10(46)
Notification No. 16/2023- Income Tax Dated: 01st April, 2023 – CBDT notifies Tax Exemption to Bhadohi Industrial Development Authority, a body constituted by the state government of Uttar Pradesh, in...
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Finance Act, 2023
MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 31st March, 2023 / Chaitra 10, 1945 (Saka) The following Act of Parliament received the assent of the President on the 31st March, 2...
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CBDT Signs 95 Advance Pricing Agreements in FY 2022-23
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 31st March, 2023 PRESS RELEASE CBDT Signs 95 Advance Pricing Agreements in FY 2022-23 The Central...
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ITC eligibility of CSR expenditure under GST & Finance Bill, 2023
The simple meaning of CSR is charity. The companies undertake CSR activities either by way of donating money to charitable organisation, or by providing goods or services free of cost. Upto March 2014...
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Key Highlights of New Foreign Trade Policy 2023
DIRECTORATE GENERAL OF FOREIGN TRADE Department of Commerce Government of India Foreign Trade Policy 2015-20 FTP 2015-20 which was to end on 31.3.2020 was extended due to COVID pandemic and volatile g...
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Expert panel formed to address statutory bank branch audits queries
Auditing and Assurance Standards Board The Institute of Chartered Accountants of India 31st March, 2023 ONLINE PANEL OF EXPERTS FOR ADDRESSING BANK BRANCH AUDIT RELATED QUERIES Dear Members, The bank...
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Customs duty exemption on drugs & Food for personal use for treatment of Rare Diseases
Customs duty full exemption for all imported drugs & Food for Special Medical Purposes for personal use for treatment of all Rare Diseases The Central Government has given full exemption from basic cu...
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Data analytics, big data & Artificial Intelligence/Machine Learning in tax administration
Both direct and indirect tax departments employ data analytics, big data and Artificial Intelligence/Machine Learning in tax administration to make it more effective, free of official discretion, busi...
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Extension of ICSI UDIN Amnesty Scheme
The Institute of Company Secretaries of India (ICSI) has extended the last date of UDIN Amnesty Scheme- 2023 (Amnesty Scheme) for providing a one-time opportunity to the Company Secretary in Practice....
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Common issues/concerns/ technical glitches on MCA- 21 V3 Portal
THE INSTITUTE OF Company Secretaries of India IN PURSUIT OF PROFESSIONAL EXCELLENCE Statutory body under an Act of Parliament (Under the jurisdiction of Ministry of Corporate Affairs) MCA: 2023 Dated:...
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Manual submission of Form 10F allowed till 30th September 2023
Government of India Ministry of Finance Central Board of Direct Tax Directorate of Income Tax (Systems), New Delhi F.No. DGIT(S)-ADG(S)-3/e-Filing Notification/Forms/2023/13420 Dated 28th Mar 2023 Par...
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Govt collects TDS of Rs. 157.9 crore on transfer of Virtual digital Assets
Direct tax deducted at source from transfer of Virtual digital Assets aggregates to Rs. 157.9 crore upto 20th March 2023 for FY 2022-23 The Direct tax collected by way of tax deducted at source under...
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ICSI requests MCA to relax levy of additional fees on 45 forms till 30.06.2023
THE INSTITUTE OF Company Secretaries of India IN PURSUIT OF PROFESSIONAL EXCELLENCE Statutory body under an Act of Parliament (Under the jurisdiction of Ministry of Corporate Affairs) March 29, 2023 M...
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8.15 % rate of interest to EPF subscribers for FY 2022-23
The Central Board Trustees (CBT) EPF recommends 8.15 % rate of interest to EPF subscribers for FY 2022-23 The 233rd meeting of Central Board of Trustees, EPF was held today in Delhi under the Chairman...