Weekly Updates from CA Cult (March 2022- Fourth Week)
Weekly Updates from CA Cult (March 2022- Fourth Week)
Important Updates from last week:
- Income Tax Department conducts searches on a Pune & Thane based unicorn start-up group.
- Income Tax Department conducts searches in a prominent Real Estate Group of North India.
- Amendment in the constitution of the Authority for Advance Ruling in the Union Territories (without legislature) – NOTIFICATION No. 01/2022 – UNION TERRITORY TAX.
- Standard Operating Procedure (SOP) for Scrutiny of returns under GST for FY 2017-18 and 2018-19 – Instruction No. 02/2022-GST.
- National Financial Reporting Authority (NFRA) appointment of Part-time members, Rules, 2022.
Directorate General of Foreign Trade (DGFT)
- Amendment in Policy condition of Sl.No. 55 & 57, Chapter 10 Schedule-2, ITC(HS) Export Policy, 2018- NOTIFICATION No. 61/2015-2020
- Amendment in Export Policy and insertion of Policy Condition under Chapter 29 and 38 of ITC (HS), 2018- NOTIFICATION No. 62 /2015-2020
- Amendment in Para 2.54 of Handbook of Procedures, 2015-2020- Public Notice No. 51/2015-20.
- Amendment in Appendix 2T (List of Export Promotion Councils/Commodity Boards/Export Development Authorities) of Foreign Trade Policy 2015-2020- Public Notice No. 52/2015-20.
- Master Direction – Classification, Valuation and Operation of Investment Portfolio of Commercial Banks (Directions), 2021 – Amendment.
- Inauguration of the Reserve Bank Innovation Hub.
- Annual Closing of Government Accounts – Transactions of Central / State Governments – Special Measures for the Current Financial Year (2021-22).
- Framework for Geo-Tagging of Payment System Touch Points.
Securities and Exchange Board of India (SEBI)
- Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2022.
- Appointment of Shri Ashwani Bhatia as Whole Time Member, Securities and Exchange Board of India (SEBI)
- Change in control of Sponsor and/or Manager of Alternative Investment Fund involving scheme of arrangement under Companies Act, 2013.
- Standardisation of industry classification -Revision in Chapter -XIV of Operational Circular for issue and listing of Non-convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal Debt Securities and Commercial Paper.
- Introduction of Options on Commodity Indices –Product Design and Risk Management Framework.
Institute of Chartered Accountants of India (CA Fraternity)
- Important Dates for Correction Window, May 2022.
- Automatic Conversion from Old Scheme to Revised Scheme of Education and Training.
- RE-OPENING OF ONLINE FILLING UP OF EXAMINATION APPLICATION FORMS FOR CHARTERED ACCOUNTANTS EXAMINATIONS, MAY / JUNE 2022.
- Announcing launch of Module 2 of online Refresher Course – ‘Deeper Insight into Financial Instruments (Ind AS)’.
- Extension of Last Date for Online Empanelment of Members to act as Observers for May/June 2022 Examinations up to 31st March 2022.
- Result of the online Examination of the Certificate Course on Forex and Treasury Management held on 5th & 6th March,2022.
- ICAI’s to introduce focused initiatives aimed at Inclusive Growth, Sustainable and Resilient Global Ecosystem and Digitisation.
- Registration for Online Japanese Language Course w.e.f. 9th April, 2022 A1 Katsudoo Level for ICAI Members and Students.
OTHER UPDATES
- Aadhaar Amendment for Deadline extension upto 30 June 2022 for seeding of Ration Card and its beneficiaries.
- Use of Aadhaar Authentication services for DigiLocker.
- Appointment of Chairman, Export Inspection Council (EIC).
- Circular on Dividend Criteria for Equity Investment under “Approved Investment”.
- International Financial Services Centres Authority (Performance Review Committee) Regulations, 2022.
Blog of the Week: How to compute Tax on Updated Return under section 140B?: https://cacult.com/how-to-compute-tax-on-updated-return-under-section-140b/
Video of the Week: Re-schedulement of the CA Foundation Course Examination, May 2022: https://www.youtube.com/watch?v=s_wAn1vLcpk
Check out our YouTube Channel: https://www.youtube.com/channel/UCUZuSQHyKyarNzKtA5rAiFA
