Weekly Updates from CA Cult (March 2022- Third Week)
Weekly Updates from CA Cult (March 2022- Third Week)
Important Updates from last week:
- More than 6.63 crore Income Tax Returns (ITRs) and 99.27 lakh statutory forms filed on the new e-filing portal of the Income Tax Department.
- Searches conducted by the Income Tax Department in Mumbai.
- Net Direct Tax collections for the F.Y. 2021-22 at Rs. 13,63,038 crore showing a growth of over 48.4%.
- Relaxation from the requirement of electronic filing of application in Form No.3CF for seeking approval under section 35(1 )(ii)/(iia)/(iii) of the Income-tax Act,1961 (the Act) – reg.
- Condonation of delay under section 119(2)(b) of the Income-tax Act, 1961 in filing of Form 10-IC for Assessment Year 2020-21- Reg.
- Circular on Deduction of Tax at Source – Income-tax Deduction from Salaries under section 192 of the Income-tax Act, 1961.
- Amendment to Circular No. 31/05/2018-GST, dated 9th February, 2018 on ‘Proper officer under sections 73 and 74 of the Central Goods and Services Tax Act, 2017 and under the Integrated Goods and Services Tax Act, 2017’.
- Webinar on Smart Search HSN- An Enhanced search HSN functionality for taxpayers.
- Circular on the Information regarding details of all Licensee, Lessee and Contractor project-wise involved in Petroleum Operations–reg.
- Government extends the validity of the exemption.
- Composition of Election Tribunal under the Chartered Accountant (CA) Act, 1949.
- Appointment of Govt Nominees in the Appellate Authority under the Chartered Accountants Act, 1949.
Directorate General of Foreign Trade (DGFT)
- Enlistment of Agency under Appendix 2E of FTP, 2015-2020 – authorized to issue Certificate of Origin (Non-Preferential)- Public Notice No. 49/2015-20.
- Operationalisation of new online IT Module for Interest Equalisation Scheme w.e.f. 01.04.2022.
- Promotion to the post of Joint DGFT- Notification No.04/2022.
- Amendments in the Guidelines of ANF-4F of Handbook of Procedures 2015-2020.
- Master Direction – Reserve Bank of India (Regulatory Framework for Microfinance Loans) Directions, 2022.
- Payment and Settlement Systems Regulations, 2008- Amendment.
Securities and Exchange Board of India (SEBI)
- Discontinuation of usage of pool accounts for transactions in the units of Mutual Funds: Clarifications with respect to Circulars dated October 4, 2021.
- Securities and Exchange Board of India (Alternative Investment Funds) (Second Amendment) Regulations, 2022.
- Revision in Orders per Second limit for algorithmic trading in Commodity Derivatives Segment of the Stock Exchange.
Institute of Chartered Accountants of India (CA Fraternity)
- Notification for Online Assessment Test (AT) for Certificate Course on Fundamental Analysis and Technical Analysis with Equity Research in year 2022.
- 3rd online batch of Certificate course on Derivatives from 16th April 2022 to 19th June 2022 at 10:00 AM – 1:00 PM IST.
- Announcing launch of Module 1 of online Refresher Course – ‘Deeper Insight into Financial Instruments (Ind AS)’.
- Four Weeks Residential Programme on Soft Skills Development.
- Re-schedulement of the CA Foundation Course Examination, May 2022.
OTHER UPDATES
- Credit Guarantee Scheme for Subordinate Debt (CGSSD) extended upto 31.03.2023.
- Government reconstitutes an Advisory Board.
- Pension cum General Provident Fund Scheme
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/
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