Weekly Newsletter - June 28, 2023
Latest additions to CAalley:
News Update:
From the ICAI:
Reference Section:
Useful Forms:
Exposure Drafts:
Acts & Regulations:
Regulatory:
Legal Updates:
News Update:
ITC can't be denied under GST even when post-supply discounts received: AAR
Is your advance tax, self-assessment tax details missing from ITR forms? Here’s what you can do
ITR 2022-23: Three key changes to keep in mind while filing your return
Go Green, Earn Credits: Govt starts Green Credits scheme under Mission LiFE
Delhi govt sets up GST registration cell to boost revenue collection
Income tax department keeps tolerance range intact for transfer pricing
Insurance regulator IRDAI bats for risk-based supervision, trials to begin from July
Sagar Samajik Sahayog: New CSR guidelines for ports in India unveiled
In a 1st, RBI slaps fines on all 4 credit bureaus
‘Resigning auditor must flag if fraud is noticed’: NFRA
Exercise professional scepticism while evaluating fraud at cos: NFRA tells auditors
Jaipur Officials bust syndicate operating in 14 States fraudulently claiming ITC of Rs 1,047 crore
RBI to engage external managers for small part of FX reserves: Das
EPFO extends deadline to apply for higher pension for members till July 11
RBI finalises norms for banks to hold capital for operational risks
Letter to govt seeks open consultation on digital competition law
I-T dept tweaks exemption norms for charitable institutions, seeks details
Explained: Tax implications of income earned from shares, mutual funds
Govt to launch portal for unclaimed shares, dividends by February 2024
India to remove retaliatory customs duties on eight US-origin products
IRDAI expands ‘use and file’ procedure to more life products
Banks race to fix foreign card spend tax collection snags
CBDT Introduces Form 10-IEA For Business Owners, Professionals To Continue With Old Tax Regime
Indians' funds in Swiss banks down 11% to ₹30,000 cr. on dip in customer deposits
MCA21 continues to misfire even as businesses bear the brunt of persistent glitches
Tax raids on gold traders in Delhi, Kolkata, UP over illegal transactions
Two arrested for input tax credit racket
'Byju's auditor Deloitte resigns mid term, three board members step down'
Centre rubbishes media report on possible tweak in pension system, says no conclusion reached
Zee Entertainment settles insider trading breach case with Sebi, pays Rs 7 lakh
Sebi proposes standard format on trading preference for different exchanges
SEBI introduces stricter framework for disposal of undertaking by a listed entity
FASB proposes improvements to accounting for purchased financial assets
PCAOB Looks to Add Rules for Auditors on Technology-Assisted Analysis
New rules aim to clamp down on corporate greenwashing
ISSB issues inaugural global sustainability disclosure standards
PCAOB details priorities for audit inspections
KPMG’s Big Four Dominance on Bank Audits Shaken by Failures
Advisory Panel Discusses Ideas to Increase Transparency of Audit and PCAOB Inspection
SEC Charges Audit Firm Marcum LLP for Widespread Quality Control Deficiencies
Bank of England hikes rates to 5% to tackle inflation, highest since 2008
From the ICAI:
Restricting revocation of the UDINs within 48 hours
Reference Section:
Income Tax Rates - AY 2024-25 and 2023-24
Income Tax - Depreciation Rates [Updated]
Income Tax - Withholding tax rates [Updated]
Income Tax Benefits Available to Salaried Persons - For AY 2024-25
Income Tax Benefits Available Only To Individuals & HUFs - For AY 2024-25
Income Tax Benefits Available Exclusively to Resident Persons and Indian Companies - For AY 2024-25
Income Tax Benefits Available to Small Businessmen - For AY 2024-25
Income Tax Benefits Available to Non- Residents - For AY 2024-25
Treatment of Income from Different Sources - For AY 2024-25
Periods of Limitation - For AY 2024-25
Various Threshold Limits under the Income Tax Act - For AY 2024-25
TDS From Payment on Transfer of Certain Immovable Property - For AY 2024-25
Penalties & Prosecution - For AY 2024-25
Useful Forms:
Exposure Drafts:
Proposed Amendments Related to Aspects of Designing and Performing Audit Procedures that Involve Technology-Assisted Analysis of Information in Electronic Form
[Last date for Comments: August 28, 2023]
Proposed ASU: Financial Instruments—Credit Losses (Topic 326) - Purchased Financial Assets
[Last date for Comments: August 28, 2023]
Acts & Regulations:
SEBI (Mutual Funds) (Amendment) Regulations, 2023 [Published on June 26, 2023]
Master Direction on Minimum Capital Requirements for Operational Risk
Regulatory:
NFRA Circular: Statutory Auditors’ Responsibilities in relation to Fraud in a Company
Legal Updates:
Status of MIFOR as a Significant Benchmark
Disclosure of Information on Issuers Not Cooperating (INC) with CRAs
Manner of achieving minimum public unitholding - REITs
Manner of achieving minimum public unitholding - InvITs
Investor Service Centres of Stock Exchanges
SEBI: Formats of Compliance Reports of REITs and InvITs
Trading Supported by Blocked Amount in Secondary Market
Master Circular for Issue of Capital and Disclosure Requirements
Standardised approach to valuation of investment portfolio of Alternative Investment Funds (AIFs)
Issuance of units of AIFs in dematerialised form
Circular - Monitoring of Investments in Alternative investment Fund
Surrogacy Act, 2021 and ART Act, 2021 and the relevant Rules thereunder
Amendment in Export policy of HS Code 2610 [Notification No.13]
Exchange Rate Notification No.46/2023-Cus (NT) dated 23.06.2023 [No.46(NT)]
