Newsletter from CA Cult – For Latest Updates (August 2024)

Weekly Newsletter from CA Cult – For Latest Updates (1st Week of August 2024)

Income-tax

1. Record 7.28 crore ITRs filed for AY 2024-25 till 31st July, 2024.

CBIC

1. Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Uttarakhand.
2. Advisory for the Taxpayers for FORM GSTR-1A.

DGFT

1. Further abeyance of Public Notice No. 05/2024 for reassessment of permissible wastages dated 27.05.2024 until 31.08.2024 – PUBLIC NOTICE No. 16/2024-25.
2. Export of Non-Basmati White Riceunder ITC(HS) code 10063090 to Namibia through National Cooperative Exports Limited (NCEL) – NOTIFICATION No. 21/2024-25.
3. Inclusion of Kandla and Vishakhapatnam Sea ports for Export of Essential Commodities to Maldives during FY 2024-25 -reg.

RBI

1. Master Direction on Treatment of Wilful Defaulters and Large Defaulters.
2. Guidelines on treatment of Dividend Equalisation Fund (DEF)- Primary (Urban) Co-operative Banks (UCBs).
3. Master Directions on Cyber Resilience and Digital Payment Security Controls for non-bank Payment System Operators.

SEBI

1. Amendment to Circular for mandating additional disclosures by FPIs that fulfil certain objective criteria.

ICAI

1. Amendments to AS 22, Accounting for Taxes on Income issued by the ICAI (For non-company entities).
2. ICAI Press Release on the result of CA Foundation Examination held in June, 2024 Declared.
3. Important Dates for Advanced Integrated Course on Information Technology and Soft Skills (Advanced ICITSS) -Adv. Information Technology Test – Computer Based Mode (CBT).
4. Notification for Online Assessment Test (AT) for Certificate Course on Derivatives on 18th August 2024. – 10:00 AM to 1:00 PM through DLH, Organized by Committee on Financial Markets and Investors’ Protection.

Union Budget 2024

1. Revised Income -tax Slab under New Tax Regime – Union Budget 2024.
2. Revised TDS rates along with their effective dates are proposed in the Union Budget 2024.
3. SUMMARY OF THE UNION BUDGET 2024-2025.
4. FAQs issued by CBDT on the new capital gains tax regime proposed in the Union Budget 2024-25.

Videos of the Week

1. Changes in Capital Gain Tax & Exemption | Highlights of Union Budget 2024: https://www.youtube.com/shorts/kRtxmJmKySw
2. Removal of Indexation | Capital Gain Tax | Highlights of Union Budget 2024: https://www.youtube.com/watch?v=kKOsIAKvdYg

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