Newsletter from CA Cult – For Latest Updates (November 2024)
Weekly Newsletter from CA Cult – For Latest Updates (2nd Week of November 2024)
- Order under section 119(1) of the Income-tax Act, 1961 fixing monetary limits of the income-tax authorities in respect of reduction or waiver of interest paid or payable under section 220(2) of the Income-tax Act- reg.
- Enhancing Tax Transparency on Foreign Assets & Income: Understanding CRS & FATCA.
- Clarification on Insurance Amount and Bond Value for Customs Cargo Service Providers (CCSPs) and validity of Bond for AEO-LO-reg.
- Advisory regarding IMS during initial phase of its implementation.
- Advisory on IMS on the Supplier View.
- Important advisory on GSTR 2B and IMS.
- NFRA recommends revision of the Standard quality control (SCQ1) and Standard quality management (SQM1 and SQM2), on the lines of the global Standards.
- Fixation of one new Standard Input Output Norms (SIONs) at SION A-3682 under ‘Chemical and Allied Product’ (Product Code ‘A’) – Public Notice No. 33 /2024-25.
- Harmonisation of Schedule-II (Export Policy), ITC(HS) 2022 – Trade Notice No. 22/2024-25.
- Reporting of Foreign Exchange Transactions to Trade Repository.
- Operational framework for reclassification of Foreign Portfolio Investment (FPI) to Foreign Direct Investment (FDI).
- Trading supported by Blocked Amount in the Secondary Market.
- SEBI study finds that 1 out of 4 times, listed companies paid royalty exceeding 20% of their net profits to Related Parties.
- Revised Criteria for classification of Non-company entities for applicability of Accounting Standards.
- Advanced Integrated Course on Information Technology and Soft Skills (Advanced ICITSS) – Adv. Information Technology Test – Computer Based Mode (CBT) – Dec 2024, Jan-Feb-Mar 2025.
- Mock Test Papers Series – I & Series II for CA Intermediate students appearing in January 2025 Examinations.
- Success at CA Exam – Series I starting from 29th November 2024 & Series II from 20th December 2024 for CA Intermediate Students appearing in January 2025 Examinations.
Videos of the Week:
- Reduction or waiver of Interest: https://www.youtube.com/watch?v=pUvu5j_x_d0
- Extension for furnishing return of income for AY 2024-25: https://www.youtube.com/shorts/YsJiQ4hfSks
- Tax on Payments to Partners of Firms | TDS under section 194T: https://www.youtube.com/watch?v=QCad-Y1KR5Q
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