Daily Newsletter - July 26, 2024
Latest additions to CAalley:
News Update:
Exposure Drafts:
FAQs:
Legal Updates:
News Update:
DGFT simplifies Export Promotion Capital Goods Scheme procedures to enhance Ease of Doing Business
RBI issues prompt corrective action framework for urban cooperative banks
Royalty is not tax: Supreme Court allows states to levy minerals cess
RBI issues draft liquidity coverage ratio norms
India won’t ink global corporate tax deal until its concerns are addressed
Sebi proposes guidelines for CRAs on detailed reasons for rating actions
“Three-slab GST very much a possibility”: CBIC Chairman
RBI tightens domestic transfer rules: KYC must for walk- in money transfer
Bigger investments, smaller costs: New Demat account rules explained
I-T returns filing: CBDT engaging closely with service providers for proper functioning of portal
Tax portal glitches galore: 49% of India's taxpayers yet to file ITR
Angel Tax scrapped: FM Sitharaman explains the rationale behind removing the decade-old tax
Budget 2024: Govt mulls stringent norms for clearance certificate needed for residents leaving India
1% TDS on property purchase over Rs 50 lakh even in case of multiple buyers or sellers
First draft of revised direct tax code in 6 months: Revenue secretary
How Budget proposes to change the tax structure & rules for 'gifts'
I-T breather to help loss-making firms conserve working capital
Budget 2024: "Notes on Clauses" issued by Income Tax Department
FAQs issued by CBDT on the new capital gains tax regime proposed in the Union Budget 2024-25
Rollover benefits to continue on capital gains up to Rs 10 cr: Revenue secy
I-T dept says changes in capital gains tax to promote ease of compliance
Taxpayers can opt for 'Vivad se Vishwas' scheme from Dec 31: CBDT chairman
Exposure Drafts:
Draft Circular on Basel III Framework on Liquidity Standards – Liquidity Coverage Ratio (LCR) – Review of Haircuts on High Quality Liquid Assets (HQLA) and Run-off Rates on Certain Categories of Deposits
[Last date for Comments: August 31, 2024]
Consultation on Draft Circular - Amendment to Para 15 of Master Circular for Credit Rating Agencies (CRAs) dated May 16, 2024
[Last date for Comments: August 15, 2024]
FAQs:
Legal Updates:
Credit Rating Agencies in the IFSC
Prompt Corrective Action (PCA) Framework for Primary (Urban) Co-operative Banks (UCBs)
Small Value Loans – Primary (Urban) Co-operative Banks (UCBs)
Bank Finance against Shares and Debentures
Launch of Steel Import Monitoring System (SIMS) 2.0 [Trade Notice No.10]
