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Advisory: Geocoding Functionality for Additional Place of Business
Goods and Services Tax Network (GSTN) announces the activation of geocoding functionality for the “Additional Place of Business” address across all States and Union Territories. This development build...
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Collaborative Excellence: Strengthening Client Relations with CA-TDSMAN
In the ever-evolving landscape of tax compliance, Chartered Accountants (CAs) and Tax Professionals face a dual challenge: Staying ahead of regulatory changes Maintaining strong client relationships C...
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DPIIT notifies Quality Control Order for ‘Flux Cored Solder Wire’
Introduction The Department for Promotion of Industry and Internal Trade (DPIIT), a key constituent of the Ministry of Commerce & Industry, has taken a significant step toward enhancing manufacturing...
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CBDT Extends Filing Deadlines for Form 10B, 10BB, and ITR-7
Introduction: The Central Board of Direct Taxes (CBDT) has issued Circular No. 16/2023, dated 18th September 2023, addressing concerns raised by taxpayers and stakeholders regarding the filing of Form...
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SFIO Arrests CA in Hyderabad: Demonetization Role
Introduction: On September 13, 2023, the Serious Fraud Investigation Office (SFIO), operating under the Ministry of Corporate Affairs, made a significant arrest in Hyderabad. Shri Nalin Prabhat Pancha...
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CBI Arrests Inspector for Bribery at Mundra Port
Introduction: On September 15, 2023, the Central Bureau of Investigation (CBI) made significant arrests in a bribery case involving a former Inspector and Dock Examiner at Mundra Port, Gujarat, who cu...
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Direct Tax Collections Show Strong Growth in FY 2023-24
The Ministry of Finance, Government of India, has released the provisional figures for Direct Tax collections for the Financial Year 2023-24 as of September 16, 2023. These figures not only reflect a...
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Request for Deferment of Applicability of New Form 10B & Form 10BB by One Year
On September 15, 2023, the Income Tax Bar Association (ITBA) and the All Gujarat Federation of Tax Consultants (AGFTC) jointly addressed a letter to Hon’ble Finance Minister Smt. Nirmala Sitharaman, s...
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Form 10B/10BB Filing Issues 2023 & appeal for deferment or extension
On the 17th of September 2023, the Income Tax Bar Association in Jalandhar, Punjab, addressed a representation to Smt. Nirmala Sitharaman Ji, the Hon’ble Minister of Finance of India. The representati...
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ED Busts Money Laundering Network Linked to Mahadev APP
In a significant development, the Enforcement Directorate (ED) has conducted extensive searches related to the money laundering networks associated with the Mahadev APP in various cities, including Ko...
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ICMAI Releases Exposure Draft on Capacity Determination (Revised)
The Institute of Cost Accountants of India (ICMAI), a statutory body under an Act of parliament, is dedicated to maintaining and enhancing the quality of cost and management accounting. As part of its...
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Cabinet approves eCourts Phase III for 4 years
On September 13, 2023, the Union Cabinet, under the leadership of Prime Minister Shri Narendra Modi, granted its approval to the eCourts Project Phase III. This initiative represents a significant lea...
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GST Council Newsletter for the month of August 2023
The August 2023 edition of the GST Council Newsletter offers a comprehensive overview of India’s Goods and Services Tax (GST) landscape. Chaired by Hon’ble Union Minister for Finance & Corporate Affai...
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DSC Issues and Solutions for E-Verification on Income Tax e-Filing portal
Digital Signature Certificates (DSC) play a crucial role in the e-filing process for taxpayers. They ensure the security and authenticity of electronic documents submitted to government portals. Howev...
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Request to Postpone Form 10B & 10BB Applicability
The Chartered Accountants Association, Ahmedabad (CAAA), established in 1950, has written a formal letter to the Hon’ble Union Finance Minister, Ms. Nirmala Sitharaman, and the Hon’ble Chairman of the...
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CBIC Resolves 13,366 Public Grievances
Introduction: The Central Board of Indirect Taxes and Customs (CBIC) has made significant strides in addressing public grievances, promoting cleanliness, and enhancing efficiency in its operations. Th...
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Government Imposes 30-Day Invoice Reporting Limit for Large Taxpayers
The Indian Government has introduced a significant change in the reporting of invoices on the e-invoice IRP portals. Taxpayers with an Aggregate Annual Turnover (AATO) exceeding 100 crores will now fa...
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CBDT notifies Multi Commodity Exchange Investor (Client) Protection Fund Trust U/s. 10(23EC)
Central Board of Direct Taxes (CBDT) has issued a significant notification, No. 77/2023, under the Income-tax Act, 1961. This notification pertains to the Multi Commodity Exchange Investor (Client) Pr...
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ICSI Requests extension of facility of hold AGM through Video Conferencing
Introduction: In a recent development, The Institute of Company Secretaries of India (ICSI) has addressed a letter to Dr. Manoj Govil, IAS, Secretary of the Ministry of Corporate Affairs, Government o...
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Notification No. 71/2023- Income-Tax Dated: 12th September, 2023
Ministry of Finance (Department of Revenue) (Central Board of Direct Taxes) Notification No. 71/2023- Income-Tax Dated: 12th September, 2023 S.O. 3981(E).—In exercise of the powers conferred by sub-cl...