Weekly Updates from CA Cult (Last Week – June 2023)
Weekly Updates from CA Cult (Last Week – June 2023)
Important Updates from last week:
- M/s Patanjali Yog Peeth Nyas notified under section 35 of the Income-tax Act, 1961.
- The Income-tax (Eleventh Amendment) Rules, 2023.
- Notification on tolerance range for the assessment year 2023-2024.
- Important changes w.r.t Liberalised Remittance Scheme (LRS) and Tax Collected at Source (TCS).
- Order under section 119 of the Income-tax Act, 1961 for extension of time limits for submission of certain TDS/TCS Statements — Reg.
- Circular to remove difficulty in implementation of changes relating to Tax Collection at Source (TCS) on Liberalised Remittance Scheme (LRS) and on purchase of overseas tour program package- Circular No. 10/2023.
- CGST Delhi West Commissionerate busts nexus of more than 30 fake firms and arrests a person in special drive against fake registrations.
- Advisory: Online Compliance Pertaining to Liability / Difference Appearing in R1 – R3B (DRC-01B).
- Amendment in import policy of Cigarette lighters covered under CTH 9613 of Chapter 96 of Schedule –I (Import Policy) of ITC (HS) 2022 – Notification No. 15/2023.
- Amnesty scheme for one time settlement of default in export obligation by Advance and EPCG authorization holders – Amendment – Public Notice No. 20/2023.
- Change in Public Holiday under Negotiable Instrument Act – No Transactions and Settlement in Government Securities, Forex and Money Markets on June 29, 2023.
- Amendment in the Foreign Exchange Management (FEMA) (current Account Transanctions) Rules, 2000.
- Disclosure of Information on Issuers Not Cooperating (INC) with CRAs.
- Securities and Exchange Board of India (Mutual Funds) (Amendment) Regulations, 2023.
- Implementation of circular on upstreaming of clients’ funds by Stock Brokers (SBs) / Clearing Members (CMs) to Clearing Corporations (CCs).
- Observations of the candidates on the question papers of CA examinations – June 2023.
- Announcement – Empanelment Application for the Year 2023-24 hosted by The O/o C&AG.
- ICAI promoting Start-up Ecosystem, Connecting Startup Community.
- Changing of cut-off date to 1st July instead of 1st January of every year for the Bank Branch Auditors Panel.
- ICAI added a separate head on its website for the New Scheme of Education and Training.
- Guidelines on Remuneration of Directors and Key Managerial Persons of Insurers.
Video of the Week:
- Important point to be considered before filing your Income-tax Return A.Y. 2023-24: https://www.youtube.com/watch?v=kHrWG80DzhQ
- Tip of the Day on Income-tax Return (ITR) Filing for AY 2023-24: https://www.youtube.com/watch?v=4PC_QE4Gfcs
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