-
8 recent Changes related to Companies Act, 2013 and LLP Act
Introduction: The year 2024 brings significant amendments to corporate regulations in India, impacting various aspects of business operations. The Ministry of Corporate Affairs (MCA) has introduced ch...
-
IBBI – Valuation Examination- FAQs
The Insolvency and Bankruptcy Board of India (IBBI) conducts Valuation Examinations as mandated by the Companies (Registered Valuers and Valuation) Rules, 2017. This post delves into frequently asked...
-
Taxpayer’s Charter- Obligations & Expectation of Income Tax Dept.
The Income Tax Department’s commitment to taxpayers is encapsulated in the Taxpayers’ Charter 2020. This declaration outlines the department’s vision, mission, and standards of service delivery. In th...
-
Request to Extend due date of GSTR 9, 9A & 9C for financial year 2022-23
Introduction: The U.P. Tax Bar Association, Varanasi, has submitted a formal request to the Hon’ble Finance Minister of the Government of India seeking an extension of the deadline for filing GST Annu...
-
Say no to Cash Transactions- Income Tax Dept. Advises
A. Introduction: Individuals prefer to receive, pay and transfer cash when the amounts of transactional value (money) involved are marginal to small. Primarily, this happens because: B. Societal: The...
-
CBDT notifies ITR 1 and ITR 4 for AY 2024-25 / FY 2023-24
CBDT notifies ITR 1 and ITR 4 for Assessment Year (AY) 2024-25 / Financial Year (FY) 2023-24 vide Notification No. 105/2023-Income Tax Dated: 22nd December, 2023. Ministry of Finance (Department of Re...
-
Updated List of Banks For Income Tax Payments on e-Filing Portal
Introduction: Are you looking for convenient banking options to make your tax payments? Look no further! The e-Filing Portal’s e-Pay Tax service offers a wide range of 27 banks to choose from. Whether...
-
FAQs on IFSC Insurance Office
Welcome to the comprehensive Frequently Asked Questions (FAQs) guide on the International Financial Services Centres Authority (IFSCA) and its Department of Insurance. These FAQs, updated as of Decemb...
-
Government’s Action Plan to Combat Ponzi Scams
In response to the rising concerns over the proliferation of Ponzi apps and their unbridled promotion by financial influencers on social media platforms, Shri Sujeet Kumar raised Unstarred Question No...
-
Action Plan To Make The Country Third Largest Economy
Introduction: The Government of India, under the Ministry of Finance and the Department of Economic Affairs, is actively pursuing an ambitious action plan to position the country as the third-largest...
-
Growth in gross total income of individuals across different income groups
Introduction: In response to an unstarred question in the Rajya Sabha, this article delves into the significant growth observed in the gross total income of individuals across various income groups in...
-
T+0 & Instant Settlement Options: Consultation Paper on Enhanced Settlement Cycles
The Consultation Paper discusses the potential introduction of T+0 and instant settlement options in addition to the existing T+1 settlement cycle in the Indian securities markets. This initiative aim...
-
No Health Tax Proposal for Tobacco Products: Govt
Introduction: The Government of India, under the Ministry of Finance, has been under scrutiny regarding the implementation of a health tax on tobacco products. This move was suggested by the Parliamen...
-
Cabinet Committee Approves 18 Judicial, 22 Accountant Member Appointments for ITAT
Introduction: The Appointments Committee of the Cabinet, under the Ministry of Personnel, Public Grievances & Pensions, has recently sanctioned the appointment of 18 Judicial Members and 22 Accountant...
-
Income Tax Department Unearths Massive Tax Evasion in East India Operation
Introduction: The Income Tax Department, under the aegis of the Ministry of Finance and the Department of Revenue, conducted a significant Search & Seizure operation on December 6, 2023. The focus of...
-
Steps To Reduce Interaction Between Taxpayer & Income Tax Department
Introduction: In response to Unstarred Question No. 1825 in the Rajya Sabha, the Ministry of Finance sheds light on significant strides taken to transform the interaction between taxpayers and the Inc...
-
Report on Direct Listing of Listed Indian Companies on IFSC Exchanges
Introduction: In a significant development, the Working Group on “Direct Listing of Listed Indian Companies on IFSC Exchanges” has presented its report to the Chairperson of the International Financia...
-
IFSCA Draft Guidelines on Solvency Margin of Life insurance business
The International Financial Services Centres Authority (IFSCA) plays a crucial role as the unified regulator for financial products and institutions within the International Financial Services Centres...
-
IFSCA Draft Guidelines: Assets, Liabilities & Solvency for Financial Services Centers
The International Financial Services Centres Authority (IFSCA) has released a Consultation Paper on the proposed Guidelines for the International Financial Services Centres Authority (Assets, Liabilit...
-
Income-tax (Twenty-Ninth Amendment) Rules, 2023
Introduction: The Ministry of Finance, through the Central Board of Direct Taxes, has issued Notification No. 104/2023 on 19th December, 2023, introducing significant amendments to the Income-tax Rule...