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Weekly Newsletter from CA Cult – For Latest Updates

Weekly Newsletter from CA Cult – For Latest Updates (2nd Week of April 2024)

Income-tax

  1. CBDT clarifies on media reports claiming special drive to reopen cases with reference to HRA claims.
  2. Notification Under Section 35(1)(ii) of the Income Tax Act 1961 – NOTIFICATION No. 38/2024.

CBIC

  1. Advisory on Reset and Re-filing of GSTR-3B of some taxpayers.
  2. NIL rate of interest for the notified class of registered persons – Notification No 07/2024 – Central Tax.
  3. Advisory on Auto-populate the HSN-wise summary from e-Invoices into Table 12 of GSTR-1.
  4. Extension of GSTR-1 due date to 12th April 2024.
  5. Seeks to extend the timeline for implementation of Notification No. 04/2024-CT dated 05.01.2024 from 1st April, 2024 to 15th May, 2024 – NOTIFICATION No. 08/2024- Central Tax.

DGFT

  1. Modification of SION E-124 for export of refined Sunflower Oil (Edible Grade) – PUBLIC NOTICE No. 01/ 2024.
  2. Implementation of Melon Seeds Import Monitoring System (MS-IMS) – PUBLIC NOTICE No. 02/ 2024.
  3. Clarification on discharge of export obligation of Advance Authorisation (AA) bearing Customs Notification No.18/2015-Customs as amended and Customs Notification No.21/2015-Customs as amended both dated 01.04.2015 by making physical exports or by making domestic supplies – Policy Circular No. 01/2024.

RBI

  1. Scheme for Payment of Pension to Central Government Pensioners by Authorised Banks.

SEBI

  1. SCORES 2.0 New Technology to strengthen SEBI Complaint Redressal System for Investors.

ICAI

  1. Expert Panel for addressing queries related to Statutory Audit pertaining to auditing aspects.
  2. Notification for Online Eligibility Test (ET) for Post Qualification Course on Information Systems Audit on Saturday the 11th May 2024 (10:00 AM to 12:30 PM) Organized by Digital Accounting & Assurance Board of ICAI.
  3. Commencement of Live Virtual Classes (LVC Batch – 2) under the New Scheme from 15th April 2024 for the students of CA Foundation/Intermediate/Final courses appearing in September/November 2024 Examinations.
  4. Success at CA. Exam BoS Series II Sessions starting from 16th April 2024 for CA. Final & Intermediate students appearing in May 2024 Examinations.
  5. Invitation for contribution to Question Bank in respect of Self-paced Online Module Examinations (Set-C & Set-D).
  6. Inspired by vision DRISHTI, ICAI adopts tech for enhancing financial literacy; launches e-Office to streamline operations.

Videos of the Week

  1. Timeline and Due Dates for Income-tax Compliance during the F.Y. 2024-25: https://www.youtube.com/watch?v=I-tTPo2qFNg
  2. Time limit for verification of return of income after uploading: https://www.youtube.com/watch?v=4CE4KOonZ7Q
  3. Important Update | Filing of ITR under Old Tax Regime for F.Y. 2023-24: https://www.youtube.com/shorts/rl9M2XmMyII
  4. Important Changes in Income Tax Return (ITR) Form for Claiming Deduction under section 80DD and 80U: https://www.youtube.com/watch?v=6VOgfYXHoXw

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