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Weekly Newsletter from CA Cult – For Latest Updates (July 2024)

CA Cult

Weekly Newsletter from CA Cult – For Latest Updates (3rd Week of July 2024)

Income-tax

  1. Over 3.58 crore ITRs have been filed till 19 July 2024, which is almost 11% more compared to returns filed during the same period last year. The number of ITRs filed per day has crossed over 15 lakh on 16 July and is expected to increase more on daily basis as the due date of 31st July 2024 is approaching. While the milestone of filing of 1 crore of ITRs for AY 2024-25 arrived on 23rd June 2024, the 2 crore milestone and 3 crore milestone has been achieved on 7th July and 16th July respectively which is also earlier than last year.

CBIC

  1. Refund of additional IGST paid on account of upward revision in prices of goods subsequent to exports.
  2. Integrated Services from NIC-IRP e-invoice-1 and e-invoice-2 Portals.

MCA

  1. MCA notified the Revised Form No. BEN-2 in the Companies (Significant Beneficial Owners) Amendment Rules, 2024.
  2. Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Amendment Order, 2024.
  3. MCA notified the Revised Form No. MGT-6 in the Companies (Management and Administration) Amendment Rules, 2024.
  4. Update Mobile Numer and Email by submitting e-form DIR-3 KYC on payment of fees of five hundred rupees.
  5. Merger of Forms IEPF-3 With IEPF-4 and IEPF-7 with IEPF-1 along with change in payment process thereof in MCA Version 3.

DGFT

  1. Amendment in Para 4.49 (b) of the Handbook of Procedures, 2023 for reducing the composition fee – PUBLIC NOTICE No. 14 /2024-25.

RBI

  1. Reserve Bank of India issues Revised Master Directions on Fraud Risk Management in the Regulated Entities.
  2. Reserve Bank of India clarifies on impact of outage in Microsoft Services on its Regulated Entities.

SEBI

  1. Enabling Credit Rating Agencies (CRAs) to undertake rating activities under IFSCA.

ICAI

  1. Important Dates for November 2024 CA Exams.
  2. Empanelment of Members to act as Observers at The Examination Centres for the Chartered Accountants Examinations Sep / Nov 2024.
  3. Applicable BOS Publication for Foundation, Intermediate and Final.

Videos of the Week

  1. How to E-file your Return of Income ?: https://www.youtube.com/watch?v=1LcDq1aGLLw
  2. Discontinuation of Covid-19 Advances | EPF | Salary: https://www.youtube.com/shorts/HqP7w7QkN7I
  3. Who is Moonlight Employee | Income | Tax Liability | Applicable ITR Form: https://www.youtube.com/watch?v=myy98HAN0FU

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