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19 Recommendations of 48th Meeting of GST Council
48th Meeting of the GST Council – 17th December, 2022 Union Finance Minister Smt. Nirmala Sitharaman chairs 48th Meeting of the GST Council via virtual mode in New Delhi GST Council recommends to decr...
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ICAI objected on Article titled Don’t rely on Insurance Agents or CAs for financial advise
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA (Set up by an Act of Parliament) December 7, 2022 To The Editor Deccan Herald Bengaluru Sub: Article titled “Don’t rely on Insurance Agents or CAs for f...
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Partial relaxation with respect to electronic submission of Form 10F
Government of India Ministry of Finance Central Board of Direct Tax Directorate of Income Tax (Systems), New Delhi F. No. DGIT(S)-ADG(S)-3/e-Filing Notification/Forms/2022/9227 Dated: 12th Dec 2022 Pa...
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Unlinked PAN Will Become Inoperative From 01.04.2023
As per sec 139AA of income tax act 1961, every person who has been allotted PAN as on 01.07.2017 and who is eligible to obtain Aadhaar Number have compulsorily link their Aadhaar and pan on or before...
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IPs to act as IRP, Liquidators, RP and Bankruptcy Trustees Guidelines
Insolvency Professionals to act as Interim Resolution Professionals, Liquidators, Resolution Professionals and Bankruptcy Trustees (Recommendation) (Second) Guidelines, 2022 December 12, 2022 Corporat...
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Representation on delay in processing of Section 119(2)(b) applications
KARNATAKA STATE CHARTERED ACCOUNTANTS ASSOCIATION Date: Tuesday, December 6, 2022 To, Shri. Nitin Gupta, Chairman, Central Board of Direct Taxes. Respected Sir, SUBJECT: Representation on delay in pro...
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ICAI objected on Article titled “Don’t rely on Insurance Agents or CAs for financial advise”
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA (Set up by an Act of Parliament) December 7, 2022 To The Editor Deccan Herald Bengaluru Sub: Article titled “Don’t rely on Insurance Agents or CAs for f...
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Revised Instruction for withholding of Refund u/s 241A in Scrutiny cases
Instruction No. 07 of 2022 DIRECTORATE OF INCOME TAX (SYSTEMS) ARA Centre, Ground Floor, E-2, Jhandewalan Extension, New Delhi-110055 F.No.: DGIT(Systems)-1/Instruction/241A/2022-23 Dated: 06.12.2022...
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Steps taken by centre to reduce import reliance
Government has taken several steps to reduce import reliance so as to curb the trade deficit. These include creating/enhancing of domestic capacity, incentivizing domestic manufacturing through Produc...
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RODTEP Benefit Extended to Chemicals, Pharma and Steel Sector
Commerce Ministry finally allowed RODTEP benefit to Chemical, Pharma and Steel Sector for the Exports transactions undertaken between 15 December 2022 to 30 September 2023 which was a long pending dem...
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Centre allows International Trade Settlements in Indian Rupees
for Export Promotion Schemes under the Foreign Trade Policy Decision to facilitate and ease international trade transactions in Indian Rupees The Government of India has made suitable amendments in th...
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All about TDS on Salary for Financial Year 2022-23 / Assessment Year 2023-24
GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) CENTRAL BOARD OF DIRECT TAXES DEDUCTION OF TAX AT SOURCE- INCOME-TAX DEDUCTION FROM SALARIES UNDER SECTION 192 OF THE INCOME-TAX ACT, 19...
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Number of recognized Startups increased from 452 in 2016 to 84,012 in 2022
Sustained Government efforts result in increasing the number of recognized Startups from 452 in 2016 to 84,012 in 2022 Sustained Government efforts in this direction have resulted in increasing the numb...
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Exposure Draft on Long-Term Motor Products covering both Motor Third Party Insurance and Own Damage Insurance
INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA Ref. No: Exposure Draft Date: 07-12-2022 1. Further to the Authority’s Circular bearing Ref. IRDAI/NL/CIR/MOT/ 137/08/2018 dated 28thAugust, 201...
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Exposure Draft on Long-Term Fire Insurance products
Insurance Regulatory and Development Authority of India Dated: 7.12.2022 1. The Authority, vide notification F.No.IRDAI/Non-life Insurance/5/171/2020 de-notified erstwhile All India Fire Tariff (AIFT)...
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List of Banks For Income Tax Payments on NSDL & e-Filing Portal
Updated List of banks for tax payments available at e-Pay Tax service at e-Filing Portal and OLTAS e-Payment of Taxes at Protean (previously NSDL): Banks available at e-Filing Portal Axis Bank Bank of...
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Time limit reduced to 21 days for submitting response to intimation u/s 245 by AO
INSTRUCTION NO. 06 of 2022 DIRECTORATE OF INCOME TAX (SYSTEMS) ARA Center, Ground Floor, E-2, Jhandewalan Extension, New Delhi — 110055 F. No. DGIT(Systems)/Instruction/245/2022-23/ Dated: 28.11.2022...
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ICAI President’s Message – December 2022
The Institute of Chartered Accountants of India Dear Colleagues, To succeed, you must have tremendous perseverance, tremendous will. – Swami Vivekananda Dedication, Passion, Sincerity and the Will to...
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Monthly GST revenues more than ₹1.4 lakh crore for nine straight months in a row
₹1,45,867 crore gross GST revenue collected for November 2022, records increase of 11% Year-on-Year Revenues from import of goods 20% higher and revenues from domestic transaction (including import of...
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CBDT notifies Under-17 Women’s World Cup, 2022 as international sporting event
CBDT notifies Federation Internationale de Football Association Under-17 Women’s World Cup, 2022 as the international sporting event for Income Tax Exemption under Section 10(39) vide Notification No....