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ITR 2 – Validation Rules for A.Y. 2023-24
Income Tax Department Central Board of Direct Taxes, e-Filing Project ITR 2 – Validation Rules for AY 2023-24 – Version 1.0 – 23rd May 2023 Directorate of Income Tax (Systems) E-2, A.R.A. Centre, Grou...
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ITR 1 – Validation Rules for A.Y. 2023-24
Central Board of Direct Taxes, e-Filing Project ITR 1 – Validation Rules for AY 2023-24 Version 1.0 – 23rd May 2023 Directorate of Income Tax (Systems) E-2, A.R.A. Centre, Ground Floor, Jhandewalan Ex...
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SEBI Proposes Clarity on Investor Rights in Alternative Investment Funds
Securities and Exchange Board of India (SEBI) has published a consultation paper seeking public comments on a proposal related to the pro-rata and pari-passu rights of investors in Alternative Investm...
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SEBI proposes Review of Total Expense Ratio for Mutual Fund Schemes
SEBI Consultation Paper on Review of Total Expense Ratio charged by Asset Management Companies (AMCs) to unitholders of schemes of Mutual Funds to facilitate greater transparency and accrual of benefi...
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SEBI Draft Regulations to Combat Unexplained Suspicious Trading Activities
SEBI Consultation paper on draft SEBI (Prohibition of Unexplained Suspicious Trading Activities in the Securities Market) Regulations, 2023 Securities and Exchange Board of India (SEBI) has released a...
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SEBI Proposes Strengthening of Governance Mechanisms of AIFs
SEBI Consultation paper on proposed amendment to SEBI (Alternative Investment Funds) Regulations, 2012 to strengthen governance mechanisms of Alternative Investment Funds Summary: The Securities and E...
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Streamlining regulatory framework for registration of FVCIs
SEBI Seeks Feedback on Consultation paper on streamlining regulatory framework for registration of Foreign Venture Capital Investors (FVCIs) The Securities and Exchange Board of India (SEBI) has relea...
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Institutional Mechanism to Prevent Market Abuse by AMCs
SEBI Seeks Public Comments on Consultation Paper On Institutional Mechanism For Asset Management Companies For Deterrence Of Possible Market Abuse And Fraudulent Transactions (SEBI) has released a con...
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SEBI Proposes Strengthening Price Bands for Equity Derivatives
SEBI Consultation Paper on Price Band formulation for scrips in Equity Derivatives segment to strengthen volatility management and minimise information asymmetry The Securities and Exchange Board of I...
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Guidelines for Complete Income Tax Return Scrutiny in FY 2023-24
Central Board of Direct Taxes (CBDT) released guidelines outlining the parameters and procedures for the compulsory selection of income tax returns for complete scrutiny during the financial year 2023...
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CBDT clarifies provisions relating to charitable and religious trusts
Circular No. 6 of 2023, issued by the Central Board of Direct Taxes, Ministry of Finance, Government of India, provides clarifications regarding provisions related to charitable and religious trusts....
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Formula to Calculate Net Winnings & New Form 16, 24Q, 26Q, 27Q & 27EQ
Amendment in Income tax Rules, 1962, insertion of new rule 133 for prescribing calculation of net winnings for online games, notification of revised Form No. 16, Form 24Q, Form 26Q, Form 27Q, and Form...
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CBDT release Income tax calculator for FY 2023-24
Central Board of Direct Taxes (CBDT) has recently released a user-friendly Income tax calculator for the financial year 2023-24. The tax calculator aims to assist individuals and businesses in estimat...
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Seeking Inputs for Measuring Cost of Regulation – As Requested by DPIIT
The Committee for Development of International Trade, Services & WTO at The Institute of Chartered Accountants of India (ICAI) has announced that it is seeking inputs for measuring the Cost of Regulat...
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Process of blocking of E-way Bill and E-invoice generation
1. Sometimes IRPs may fail to check duplicate IRN from de-dup system for technical reasons. Under this circumstance, it is possible for tax payers to register the same document/invoice at different IR...
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Section 194BA – TDS on Winnings from online games – CBDT Clarifies
Circular No. 5 of 2023, issued by the Central Board of Direct Taxes (CBDT), provides guidelines for the implementation of section 194BA of the Income-tax Act, 1961. This section pertains to the deduct...
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Confused about the recent news on TCS on Foreign Payments?
Myth 1: TCS applies to all foreign payments made by Indian companies. Fact: This is a myth. Tax Collected at Source (TCS) is a provision under the Indian Income Tax Act that requires the collection of...
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Cabinet Approves PLI Scheme 2.0 to Boost IT Hardware Manufacturing
India’s Cabinet Approves Rs. 17,000 Crore Incentive Scheme 2.0 to Boost IT Hardware Manufacturing Analysis: The Union Cabinet of India, chaired by Prime Minister Narendra Modi, has given its approval...
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SEBI proposes Reduction of Listing Timeline to T+3 days
The Securities and Exchange Board of India (SEBI) has released a consultation paper seeking public comments on the proposal to reduce the timeline for listing shares in public issues from the existing...
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Rs. 2000 bank note exchange allowed without requisition slip & ID Proof: SBI
In partial modification of instructions contained in Para 4 (B), it has been decided by SBI that the facility of exchange of Rs 2000/- denomination Bank Notes to all members of the public upto a limit...