Updated ICAI Manual on Concurrent Audit of Banks (2023 Edition)
Explore ICAI's updated Manual on Concurrent Audit of Banks (2023 edition) for comprehensive guidance on auditing practices, checklists, and critical banking aspects.
Author: Kewal Garg
PAN Requirement Relaxed for Non-residents/Foreign Companies dealing with IFSC Banking Units
The CBDT has issued new rules relaxing PAN requirements for non-resident and foreign companies transacting with IFSC banking units in India. Key changes explained.
Summary of GOI Notifications on Quarterly Changes in Interest Rates of Small Saving Schemes
Summary of Quarterly Changes in Interest Rates of Small Saving Schemes (KVP, MIS, NSC, PPF, RD, SB, SCSS, SSAS and Term Deposits) from FY 2016-17 to Q3 of FY …
Advance Ruling Clarifies GST Provisions for Price Revision of Pre-GST Contracts
Advance ruling by Telangana authority clarifies time of supply and invoice issuance under CGST Act for post-GST price revision of contracts entered prior to GST transition.
ICAI Handbook on Compliances by Small Companies
The ICAI handbook guides small companies on provisions & exemptions under Companies Act 2013. It simplifies compliance for transparent operations & growth.
Revised ICAI Membership/ COP Fee (FY 2023-24): Last Date 31/10/2023
Explore ICAI announcement on Annual Membership/ COP Fee payable by Members for FY 2023-24 latest by extended deadline pf 31/10/2023.
New IT Rule 21AHA for Opting Concessional Tax Regime by Cooperative Societies
CBDT notifies new IT Rule 21AHA for cooperative societies to opt for 15% concessional tax rate u/s 115BAE and specifies eligibility, procedure to exercise option, and conditions.
Interest Rates on Small Savings Schemes Increased: Q3 of FY 2023-24
The Government revised interest rates for small saving schemes in Q3 FY 2023-24 (Oct-Dec 2023). Notably, 5 Year Recurring Deposits will now earn 6.7% p.a., up from the previous …
GSTN advisory on e-Invoice auto population in GSTR-1
GSTN has Advisory dated September 27, 2023 stating that there is a short term pause in e-Invoice Auto-population into GSTR-1.
CBDT Amends IT Rules for Audit and Inventory Valuation u/s 142(2A) of Income Tax Act
CBDT issues notification with new rules for audit report u/s 142(2A)(i) in Form 6B and inventory valuation report u/s 142(2A)(ii) in Form 6D along with guidelines for remuneration.