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SEBI Proposes Mandatory UPI Block Mechanism for Trading
The Securities and Exchange Board of India (SEBI) has released a consultation paper seeking public feedback on whether Qualified Stock Brokers (QSBs) should be required to offer a UPI block mechanism...
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ICAI Introduces Audit Quality Maturity Model Version 2.0
The Institute of Chartered Accountants of India (ICAI) has launched the Audit Quality Maturity Model version 2.0 (AQMM v 2.0), following the mandatory implementation of version 1.0 from April 1, 2023....
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CBDT Central Action Plan 2024-2025
The Central Action Plan (CAP) 2024-2025, formulated by the Central Board of Direct Taxes (CBDT), outlines a comprehensive strategy to enhance India’s direct tax administration in line with the Governm...
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Information published online cannot be considered under control of public authority: IBBI
The Insolvency and Bankruptcy Board of India (IBBI) has dismissed an appeal filed by R. Ramachandra against the Central Public Information Officer (CPIO) regarding the availability of information unde...
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IFSCA Regulations 2024: Book-keeping, Accounting, Taxation & Financial Crime Compliance – FAQs
The International Financial Services Centres Authority (IFSCA) has introduced new regulations, effective June 6, 2024, to create a regulatory framework for bookkeeping, accounting, taxation, and finan...
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Income Tax Exemption for UIDAI’s Specified Income 2024-2029
Notification No. 100/2024-Income Tax | Dated : 12th August, 2024 under section 10(46) of the Income Tax Act, 1961 in the case of Unique Identification Authority of India The Ministry of Finance’s Cent...
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Income Tax Exemption for West Bengal Transport Workers Social Security Scheme
Notification No. 99/2024-Income Tax | Dated: 12th August, 2024 under section 10(46) of Income Tax Act, 1961 in case of West Bengal Transport Workers Social Security Scheme The Ministry of Finance’s Ce...
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Over 1.4 Lakh Startups in India; 67K Have Women Directors
As of June 30, 2024, the Department for Promotion of Industry and Internal Trade (DPIIT) has recognized 140,803 startups in India, with over 67,000 featuring at least one woman director. Since the Sta...
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Response to Hindenburg Allegations by Madhabi and Dhaval Buch
In response to the allegations made by Hindenburg on August 10, 2024, Madhabi and Dhaval Buch issued a detailed statement addressing concerns related to their personal investments and professional rol...
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Process of Food License Registration in India
Navigating the Process of Food License Registration in IndiaThe Food Safety and Standards Authority of India (FSSAI), under the Ministry of Health and Family Welfare, has introduced a streamlined onli...
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Unlocking the Power of P/E Ratio in Mutual Fund Investments
Understanding the P/E Ratio: A Key to Smart InvestingIn the complex world of investing, grasping key financial metrics is essential for making informed decisions. One such crucial metric is the Price-...
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Understanding the New Form GSTR-1A: A Comprehensive Guide
Introduction to GST and GSTR-1AGoods and Services Tax (GST), a type of indirect tax, was introduced in India on July 1, 2017, revolutionizing the taxation system by replacing multiple taxes levied by...
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IGST Refund on Upward Price Revisions for Exported Goods: A New Mechanism
SummaryThe Central Board of Indirect Taxes and Customs (CBIC) has introduced a new mechanism to address the issue of additional Integrated Goods and Services Tax (IGST) paid on upward price revisions...
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Conditional Waiver of Interest/Penalty under Section 128A of CGST Act
BackgroundThe Government, on the recommendation of the GST Council, has introduced Section 128A of the CGST Act, 2017 to provide a conditional waiver of interest and penalties for demand notices issue...
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Shifting a Private Limited Company's Registered Office to Another State: A Step-by-Step Guide
OverviewShifting the registered office of a private limited company from one state to another in India involves a series of detailed steps, as outlined in Section 13(4) to 13(7) of the Companies Act,...
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No Penalties for Estimated Income: A Comprehensive Review
Overview: The debate over whether to impose penalties on estimated income has become increasingly pressing in the field of taxation. The contention lies primarily in the speculative nature of income e...
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Indexation under LTCG on Immovable Properties: A Shift in Taxation
Impact on Real Estate InvestmentsThe Budget 2024 has introduced a significant change to the taxation of long-term capital gains (LTCG) on immovable properties, effectively eliminating the cost inflati...
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Non-Resident Foreign Company Interest Income Taxability under the Income Tax Act, 1961
Definition of a CompanyThe Income Tax Act, 1961, defines a "Company" as:Indian companyBody corporate incorporated outside IndiaInstitution, association, or body assessable as a Company for specific as...
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Decoding the Latest GST Amendments: A Comprehensive Guide to Notification No. 12/2024–Central Tax
1. IntroductionIn a significant move to refine the Goods and Services Tax (GST) framework, the Central Board of Indirect Taxes and Customs (CBIC) has unveiled Notification No. 12/2024–Central Tax. Thi...
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Guidelines for Committee of Creditors by IBBI
The Insolvency and Bankruptcy Board of India (IBBI) has issued guidelines to streamline the operations of the Committee of Creditors (CoC) under the Insolvency and Bankruptcy Code, 2016. These guideli...