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Newsletter from CA Cult – For Latest Updates (April 2025)

CA Cult
Newsletter from CA Cult- For Latest Updates

Check out the Weekly Newsletter from CA Cult – For Latest Updates (Fourth Week of April 2025)

Income-tax

  1. TCS Applicable on High-Value Goods Under Section 206C.
  2. “New TCS Reporting Codes for Luxury Goods in Form 27EQ | CBDT Notification 2025” – Income-tax (Eleventh Amendment) Rules, 2025.
  3. New Tax Rule 2025: No Deduction for Settlement Costs.

CBIC

  1. Government is not considering levying Goods and Services Tax (GST) on UPI transactions over ₹2,000.

DGFT

  1. Introduction of ‘Mode of Export of Services’ Field in eBRC Format for Services Exports with effect from May 01, 2025 – Trade Notice No. 02/2025-26.
  2. Inputs on Amendments for Export of SCOMET Items for ‘Testing and Evaluation’ purposes – Trade Notice No. 03/2025-2026.
  3. Amendment in Import Policy Condition of Synthetic Knitted Fabrics Covered under Chapter 60 of the ITC (HS), 2022- Notification No. 05/2025-26.
  4. Fixation of one new Standard Input Output Norms (SIONs) at SION A-3685 under ‘Chemical and Allied Product’ (Product Code ‘A’) – Public Notice No.3 /2025-26.

RBI

  1. Opening of and operation in deposit accounts of minors.
  2. Amendments to Liquidity Coverage Ratio (LCR) Framework.
  3. RBI Circular – Migration to ‘.bank.in’ domain.
  4. Amendments to Directions – Compounding of Contraventions under FEMA, 1999.

SEBI

  1. Change in cut-off timings to determine applicable NAV with respect to repurchase/ redemption of units in overnight schemes of Mutual Funds.

ICAI

  1. Notification for Online Eligibility Test (ET) for Post Qualification Course on Information Systems Audit on Saturday, May 10, 2025 (10:00 AM to 12:30 PM) Organized by Digital Accounting and Assurance Board of ICAI ISA Eligibility Test will be conducted under ISA 3.0 Syllabus.
  2. ICAI Strengthens the Fight Against Financial Fraud Through Strategic National Collaborations.
  3. ICAI and CAG Join Hands to Strengthen Capacity of PSUs Audit Officers.
  4. Commencement of Live Virtual Revisionary Classes for the students of CA. Final Course appearing in September 2025 Examinations.

OTHER UPDATE

  1. Proposal regarding processing of prior permission application under FCRA, 2010.

Videos of the Week:

  1. ITR-1 Not Applicable? Must-Know Cases for Tax Filing: https://www.youtube.com/watch?v=xiOE0rLLMy8
  2. GST on Packing Charges for Online Food Orders: Who Pays? | Info fun fact by CA Cult: https://www.youtube.com/shorts/pq75S90dQbQ
  3. New SEBI NAV Rules 2025: Overnight Funds Cut-Off Timings!: https://www.youtube.com/shorts/Bv2K9JYCOos
  4. New 1% TCS on Luxury Goods Above ₹10 Lakh | Income Tax Rule 2025 Explained: https://www.youtube.com/shorts/eeq6QvIkJQs
  5. How share trading timing impact your profits | Info fun fact by CA Cult: https://www.youtube.com/shorts/nww08ZVmidA
  6. Avoid These Capital Gains Tax Mistakes on Joint Property: https://www.youtube.com/shorts/RAaaG_7u7qE

Subscribe to our YouTube Channel: https://www.youtube.com/channel/UCUZuSQHyKyarNzKtA5rAiFA

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