Weekly Updates from CA Cult (June 2022- Fourth Week)
Weekly Updates from CA Cult (June 2022- Fourth Week)
Important Updates from last week:
- Income Tax Department conducts searches in Rajasthan and Mumbai.
- Amendment To Rule 30, 31, 31a And Form 26q, 26qb, 26qc And 26qd And Insertion Of New Form 16e And 26qe To Income Tax Rules, 1962.
- Guidelines for removal of difficulties under sub-section (6) of section 194S of the Income-tax Act, 1961.
- Format, Procedure and Guidelines for submission of Form No. 1, Form No. 2 and Form No. 2A for Securities Transaction Tax (STT)- Notification No. 2 of 2022.
- Collection of Cess up to the 31st March 2026- NOTIFICATION No. 1/2022–Compensation Cess.
- Customs Brokers Licensing (Amendment) Regulations, 2022.
- NFRA Rule 13 – Punishment in case of non-compliance.
Directorate General of Foreign Trade (DGFT)
- Amendment in Import Policy Condition of Water Melon Seeds under ITC(HS) Code 1207 70 90 of Chapter-12 of ITC (HS), 2022, Schedule-I (Import Policy)- NOTIFICATION No. 13 /2015-2020.
- Enlistment of PSIA under para 2.55 of HBP 2015-2020- Public Notice No. 16/2015-20.
- Extension of timeline for implementation of certain provisions of Master Direction – Credit Card and Debit Card – Issuance and Conduct Directions, 2022.
- Sources of Variation in Foreign Exchange Reserves in India during 2021-22.
- Master Circular on Housing Finance for UCBs.
- Draft Master Direction on Outsourcing of Information Technology (IT) Services.
- Restriction on Storage of Actual Card Data [i.e. Card-on-File (CoF)].
- Reserve Bank of India (RBI) encourages the cardholders to tokenise their cards.
Securities and Exchange Board of India (SEBI)
- Naming / Tagging of demat accounts maintained by Stock Brokers.
- Modification in the Operational Guidelines for Foreign Portfolio Investors, Designated Depository Participants and Eligible Foreign Investors–Bank account details to which the payment is to be done electronically- Circular.
- Securities and Exchange Board of India (Employees’ Service) (Second Amendment) Regulations, 2022.
- Introduction of Unified Payments Interface (UPI) mechanism for Real Estate Investment Trusts.
- Introduction of Unified Payments Interface (UPI) mechanism for Infrastructure Investment Trusts (InvITs).
- Reduction of timelines for listing of units of privately placed Infrastructure Investment Trust (InvIT).
- Implementation of Circular on ‘Guidelines in pursuance of amendment to SEBI KYC (Know Your client) Registration Agency (KRA) Regulations, 2011’.
- Guidelines for Large Value Fund for Accredited Investors under SEBI (Alternative Investment Funds) Regulations, 2012 and Requirement of Compliance Officer for Managers of all AIFs.
Insurance Regulatory and Development Authority of India (IRDAI)
- Notification regarding revision of salary and allowances payable to and other terms and conditions of service of Chairperson and other members of Insurance Regulatory and Development Authority of India.
Institute of Chartered Accountants of India (CA Fraternity)
- 74th Chartered Accountants’ Day Celebrations on 1st July, 2022 from 3.00 PM to 6.30 PM at Siri Fort Auditorium, New Delhi.
- Invitation for Expression of Interest – Organising Carbon Neutral World Congress of Accountants (WCOA) 2022.
- Registration and Fees payment for Online French Language Course w.e.f 2nd July, 2022 for ICAI Members and Students.
- Applicable Study Material for November 2022 Exams Foundation, Intermediate and Final Course.
- Commencement of Live Coaching Classes (LCC Batch -5) from 7th July 2022 for the Students of Foundation Course appearing in November/December 2022 exam.
- Certificate Course on Fundamental and Technical Analysis of stocks including equity Research – Online Batch 3 from 23rd July 2022 to 25th September 2022 at 3:00 PM -6:00 PM IST.
- Certificate Course on Forex and Treasury Management – Online Batch 7 from 23rd July 2022 to 3rd September 2022 at 09:30 AM -1:30 PM IST.
- Postponement of Foundation Examination on 24th & 26th June.
- Observations of the candidates on the question papers of CA Foundation examinations- June 2022.
- National Outreach Programme – Clarifications on Proposed Scheme of Education and Training through Webinar.
OTHER UPDATES:
- Digital media such as WhatsApp and e-mail can be used for speedy consumer complaint redressal: Shri Piyush Goyal.
Blog of the Week: Cases where filing of the Income Tax Return is mandatory: https://cacult.com/cases-where-filing-of-the-income-tax-return-is-mandatory/
Video of the Week: Important points that should be considered by all the taxpayers before filing ITR: https://www.youtube.com/watch?v=wQfeBMTZ4dg
Check out our YouTube Channel: https://www.youtube.com/channel/UCUZuSQHyKyarNzKtA5rAiFA
