Choosing FCM or RCM Options Simplified for GTAs: CBIC Notifications
CBIC amends procedures to allow GTAs extended deadline for choosing between FCM or RCM and relieve them from annual compliance to do so, as recommended by GST Council.
CBDT Clarification on Reporting of Funds (CRS) under I-T Rule 114F(5)
CBDT's clarification on the reporting status of certain RFIs and funds under I-T Rule 114F(5), classification as non-reporting financial institutions and their treatment as excluded accounts for CRS reporting.
ICAI’s Revised Overview of IND ASs issued by MCA (July, 2023)
ICAI has published the revised 2023 edition of the booklet "Indian Accounting Standards (IND ASs): An Overview", which summarises different aspects of Ind ASs issued by MCA.
CBDT Guidelines on Condonation of Delay in ITR Filing by Cooperative Societies
CBDT Circular 13/2023 provides guidelines for condoning the delay in filing income tax returns by co-operative societies claiming deductions under Section 80P, for AY 2018-19 to AY 2022-23.
e-Invoice Exemption Declaration Functionality: GSTN Advisory
Discover the GSTN Advisory on new e-Invoice Exemption Declaration functionality enabled on GST Portal for taxpayers.
TDS Exemption on Dividends for IFSC Units in Aircraft Leasing: CBDT Notification
CBDT has issued Notification 52/2023 on TDS exemption for IFSC units engaged in aircraft leasing, subject to compliance with prescribed procedure.
Extension of Deadlines for GST Amnesty Schemes till 31st August 2023
The deadline for the late filing of returns under GST amnesty scheme has been extended by the CBIC from June 30 to august 31, 2023.
Second Phase Peer Review Mandate Further Deferred by ICAI to 01/04/2024
ICAI has announced on 19/07/2023 that the second phase of the Peer Review Mandate has been further deferred/postponed from 01/07/2023 to 01/04/2024.
Amendment in I-T Rule 11UAC: Relocation of Funds & Movable Property to IFSC
Explore the advantages of relocating funds to IFSC under CBDT's new amendment. Learn how this expansion benefits investors and fund management entities.
I-T Exemption Rules Amended for Certain Investments by Non-residents
Understand the CBDT's amendment in I-T rules regarding tax exemptions to non-residents for investments in certain financial instruments and specified funds.