Weekly Updates from CA Cult (1st Week – February 2023)
Weekly Updates from CA Cult (1st Week – February 2023)
Important Updates from last week:
- DIRECT TAX PROPOSALS AIMED AT REDUCING COMPLIANCE BURDEN, PROMOTING ENTREPRENEURIAL SPIRIT & PROVIDING TAX RELIEF TO CITIZENS.
- Frequently Asked Questions (FAQs) on e-Verification Scheme 2021.
- BASIC CUSTOMS DUTY RATES ON GOODS, OTHER THAN TEXTILES AND AGRICULTURE, REDUCED FROM 21 TO 13.
Directorate General of Foreign Trade (DGFT)
- Amendment in conditions of the Standard Input Output Norms (SION) at E-136 for export of wheat flour (Atta) and amendment in para 4.05 (iii) under Handbook of Procedures 2015-20- Public Notice No. 54/2015-20.
- Amendment in Appendix 2T (List of Export Promotion Councils/Commodity Boards/Export Development Authorities) of Foreign Trade Policy 2015-2020- Public Notice No. 55/2015-20.
Securities and Exchange Board of India (SEBI)
- Transaction in Corporate Bonds through Request for Quote (RFQ) platform by Alternative Investment Funds (AIFs).
- Changes to the Framework to Enable Verification of Upfront Collection of Margins from Clients in Cash and Derivatives segments.
- Amendments to Operational Circular for Credit Rating Agencies.
- Manner of achieving minimum public shareholding.
- Updated Operational Circular for Credit Rating Agencies.
- Dos and don’ts relating to green debt securities to avoid occurrences of greenwashing.
Institute of Chartered Accountants of India (ICAI)
- ICAI invites suggestions on tax proposals of Union Budget 2023-24.
- EMPANELMENT OF MEMBERS TO ACT AS OBSERVERS AT THE EXAMINATION CENTRES FOR THE CHARTERED ACCOUNTANTS EXAMINATIONS MAY/JUNE 2023.
- Results of the Post Qualification Course Examinations are likely to be declared on 3rd February 2023.
- Results of the Foundation Examination likely to be declared on 3rd February, 2023.
- First Level Test of the Special Examination for Overseas Citizen of India holding Professional Accountancy Qualification under the Scheme specified under “Schedule B” of Chartered Accountants (Amendment) Regulations, 2014, notified vide Notification No. 1-CA(7)/154/2014 dated 22.07.2014.
- Special Examination for Members of Foreign Accounting Bodies with whom the ICAI had entered into Mutual Recognition Agreement (MRA) / Memorandum of Understanding (MoU).
- ICAI Press Release on Declaration of result of Chartered Accountants Foundation Examination held in December, 2022.
- Framework for the Social Audit Standards.
- Important dates to apply for verification or inspection.
- HIGHLIGHTS OF THE UNION BUDGET 2023-24.
- SUMMARY OF THE UNION BUDGET 2023-24.
- MAJOR ANNOUNCEMENTS IN PERSONAL INCOME TAX TO SUBSTANTIALLY BENEFIT THE MIDDLE CLASS.
Other Updates:
- Obligatory Cession for the financial year 2023-24.
Videos of the Week:
- Types of Capital Gain and their Taxation in India?: https://www.youtube.com/watch?v=dIvTb6wD5qU
- Taxation in UAE | Dubai | Abu Dhabi | Middle East: https://www.youtube.com/shorts/CBkZLqsYYso
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