Explore the implications of recent debarments by the National Financial Reporting Authority (NFRA) on Chartered Accountants and firms in India. Understand NFRA’s functions, duties, and its role in ensuring accountability and maintaining financial reporting standards. Stay informed about the penalties imposed and their significance in fostering transparency and credibility in the Indian financial reporting ecosystem.
Explore transformative Bhartiya Nyaya Sanhita, Nagarik Suraksha Sanhita, and Sakshya Bill of 2023 that herald a new era in India’s legal landscape. Discover the comprehensive changes and advancements in these bills, as they replace colonial-era laws, prioritize victim rights, embrace technology, and ensure timely justice.
Discover India’s eCourts Mission Mode Project, transforming the judiciary through digitalization. Virtual hearings, case databases, and more redefine court proceedings for the digital era.
Direct tax collections for F.Y. 2023-24 up to August 10 show steady growth. Gross collections at Rs. 6.53 lakh crore, a 15.73% increase over last year. Net collections stand at Rs. 5.84 lakh crore, up by 17.33%. Refunds of Rs. 0.69 lakh crore issued, indicating efficient tax administration and positive fiscal outlook.
Learn about India’s innovative approach to resolve consumer disputes by utilizing the Consumer Welfare Fund to cover mediator fees. Enhancing consumer welfare through cost-effective mediation.
Read how CBDT’s Notification No. 58/2023 amends Income-tax Rules, extending Safe Harbour rules to AY 2023-24. Insights from Ministry of Finance, New Delhi.
ICAI announces ISA Assessment Test results likely to be released on late evening of 7th August 2023 or early morning of 8th August 2023. Check on icai.org.
Recommendations of 51st GST Council Meeting GST Council recommends certain amendments in CGST Act 2017 and IGST Act 2017, including amendment in Schedule III of CGST Act, 2017, to provide clarity on taxation of supplies in casinos, horse racing and online gaming GST Council also recommends inserting a specific provision in IGST Act, 2017 to […]
The Income Tax Department records a new milestone with over 6.77 crore ITRs filed for AY 2023-24 by July 31, 2023, showing a 16.1% YoY growth.
Read the full text of the order of ITAT Kolkata in the case of Anirudh Bhuwalka vs DCIT. The ITAT upheld the non-granting of TDS benefits due to non-deposition of TDS in the assessees income.
