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Biometric Aadhaar Verification for GST Registration – Gujarat & Puducherry
The Goods and Services Tax Network (GSTN) has introduced a new biometric-based Aadhaar authentication and document verification process for GST registration applicants in Gujarat and Puducherry. This...
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Discussion paper on amendments to IBBI (Insolvency Resolution Process for Corporate Process) Regulations, 2016
INSOLVENCY AND BANKRUPTCY BOARD OF INDIA Discussion paper on amendments to Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Process) Regulations, 2016 1st November...
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Income Tax Agreement Between India & Saint Vincent for information Exchange
Introduction: The Ministry of Finance, Department of Revenue, New Delhi, issued Notification No. 96/2023-Income Tax on November 1, 2023. This notification relates to an important agreement signed betw...
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Income Tax Notification: BPC Penco XVII Corporation Exemption
Introduction: The Ministry of Finance, Department of Revenue, Central Board of Direct Taxes (CBDT), New Delhi, has issued Notification No. 95/2023-Income Tax on November 1, 2023. This notification spe...
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Exposure Draft of Lack of Exchangeability – Amendments to Ind AS 21
On the 1st of November, 2023, the Accounting Standards Board (ASB) of The Institute of Chartered Accountants of India (ICAI) released an Exposure Draft concerning amendments to Ind AS 21, titled “Lack...
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ICAI President’s Message – November 2023
Dear Professional Colleagues, The ascent of our nation and economy on the global landscape is a matter of immense pride and satisfaction. Today, the whole world is watching and listening to our opinio...
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October 2023 GST Revenue Hits Second-Highest Mark, Surges 13%
Introduction: The Ministry of Finance has released its report on GST revenue collection for October 2023, showcasing impressive growth compared to the previous year. This detailed analysis delves into...
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Income Tax Amendment: Latest Changes in ITR-7 Forms
CBDT issued Notification No. 94/2023-Income Tax, dated October 31, 2023, introducing significant amendments to the Income-tax Rules, 1962. This article delves into the changes made, focusing particula...
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Income Tax Department Records 7.85 Crore ITRs Filed by 31st Oct 2023
Introduction: The Ministry of Finance, in collaboration with the Income Tax Department, has witnessed an unprecedented surge in Income Tax Returns (ITRs) filing by taxpayers. A remarkable 7.85 crore I...
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PFRDA (Retirement Adviser) Regulations, 2016 – Proposed Amendments
As part of the comprehensive regulation review exercise, the preliminary draft of internal review of the PFRDA (Retirement Adviser) Regulations, 2016 has been completed. The draft of the proposed chan...
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Exposure Draft on Accounting Standards for Limited Liability Partnerships
Introduction: On the 27th of October, 2023, the Accounting Standards Board of the Institute of Chartered Accountants of India (ICAI) released an Exposure Draft addressing Accounting Standards for Limi...
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GSTN issued advisory related to changes in GSTR-5A
The Goods and Services Tax Network (GSTN) has recently issued a significant advisory through Notification 51/2023 dated 29.09.2023. This advisory introduces a new table, Table 5B, within the GSTR 5A r...
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Unmasking the Illusion: SEBI Cracks Down on Prominent Finfluencer Nasir
In a stunning revelation, the Securities and Exchange Board of India (SEBI) has dealt a severe blow to a leading financial influencer, Nasir, who touted himself as the “Baap of Chart.” SEBI’s investig...
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Section 10(46) Exemption to Telangana Building Welfare Board
Introduction: The Ministry of Finance, under the purview of the Central Board of Direct Taxes, has issued an important notification, Notification No. 93/2023-Income Tax, dated 26th October, 2023. This...
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Section 10(46) Exemption to ‘West Bengal Pollution Control Board
The Ministry of Finance, under the aegis of the Central Board of Direct Taxes, has issued a significant notification, Notification No. 92/2023-Income Tax, dated 26th October 2023. This notification ho...
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Request for Form 10B and Form 10BB Relaxation & due date Extension
Introduction: On the 25th of October, 2023, the Chamber of Tax Consultants sent a formal representation to Smt. Nirmala Sitharaman, the Hon’ble Finance Minister of India, and Shri Nitin Gupta, Chairma...
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PFRDA (Subscriber Education & Protection Fund) Regulations, 2015 – Proposed Amendments
PFRDA (Subscriber Education And Protection Fund) Regulations, 2015 – Proposed Amendments As part of the comprehensive regulation review exercise, the preliminary draft of internal review of the PFRDA...
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PFRDA (Custodian of Securities) Regulations, 2015: Proposed Amendments
The Pension Fund Regulatory and Development Authority (PFRDA) has initiated a comprehensive review of the PFRDA (Custodian of Securities) Regulations, 2015. The preliminary draft of the proposed amend...
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UDIN Archiving: ICAI’s Phase-wise Server Load Relief
The Institute of Chartered Accountants of India (ICAI) is making significant changes in the management of UDINs (Unique Document Identification Numbers). It has been decided to archive UDINs one year...
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GSTN enables New Registration functionality for IRPs
New Delhi, 29th May 2020 – In a significant development, the Goods and Services Tax Network (GSTN) has introduced a new registration functionality on the GST portal specifically tailored for erstwhile...