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CBIC notifies Exchange rate of ‘South African Rand’ for Import & Export wef 13.06.2023

June 12, 2023 387 Views 0 comment Print

CBIC notifies Exchange rate of ‘South African Rand’ for Import & Export wef 13.06.2023 vide Notification No.42/2023- Customs (N.T.) Dated: 12th June, 2023. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS ***** Notification No.42/2023- Customs (N.T.) | Dated: 12th June, 2023 In exercise of the powers conferred […]

NFRA Imposes Penalty on Auditor for Non-Reporting of Company’s AS Non-Compliance

June 12, 2023 2355 Views 0 comment Print

National Financial Reporting Authority (NFRA) issues an order imposing a penalty on CA Gautam Guha of Rupees One Lakh (Rs. 1,00,000) for failure to report the non-compliance of M/s Nicco Uco Alliance Credit Limited with Accounting Standards (AS). The NFRA initiates an investigation into the role of statutory auditors based on irregularities observed in the […]

Choosing the Right File Converter for Your Specific Requirements

June 12, 2023 816 Views 0 comment Print

People working in many professions today deal with a variety of file formats. To use your files across operating systems, you may need to convert, compress, and alter them.

Rule 8(1): Taxable Tea Business Income to be determined after disallowance

June 12, 2023 2454 Views 0 comment Print

Rule 8(1) states that income from business of tea growing & manufacturing is computed as 40% of total income determined under Income Tax Act

ITAT upheld section 271FA penalty for non-filing of SFT

June 12, 2023 1749 Views 0 comment Print

A penalty of was levied under section 271FA of Income Tax Act, 1961. The assessee’s subsequent appeal, stating that SFT was filed when e-filing portal was available, lacked supporting evidence and hence did not hold in court.

TNVAT: HC Directs Fresh Enquiry on Absent Notices Regarding Bank Account Freezing

June 12, 2023 780 Views 0 comment Print

In Srikals Graphics Private Ltd Vs Assistant Commissioner (ST), Madras HC ordered a fresh enquiry due to absence of notice on freezing of a bank account

IBBI Paper – Enhancing Resolution: Strategies for Value, Timeliness & Success

June 8, 2023 651 Views 0 comment Print

Discussion Paper on measures for increasing the possibility of resolution, value of resolution plan and enabling timely resolution analyses resolution processes that have been completed and are ongoing, presents the understanding of issues that are adversely affecting the efficiency and effectiveness of the resolution process. The issues are of a wide spectrum and proposals have been made to resolve the same.

Streamlining Insolvency Profession Entry: Simplifying Enrolment & Registration

June 8, 2023 711 Views 0 comment Print

Under section 196(1)(aa) of IBC, IBBI is responsible to promote development of, and regulate, working and practices of, insolvency professionals in furtherance of purposes of Code.

CBIC notifies Exchange rate of Turkish Lira for Import & Export wef 08.06.2023

June 7, 2023 567 Views 0 comment Print

CBIC notifies Exchange rate of Turkish Lira for Import & Export wef 08.06.2023 vide Notification No. 40/2023- Customs (N.T.) Dated: 07th June, 2023. Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs ***** Notification No. 40/2023- Customs (N.T.) | Dated: 07th June, 2023 In exercise of the powers […]

CBDT notifies section 10(23FE) exemptions for foreign pension fund – 2743298 Ontario Limited

June 7, 2023 1425 Views 0 comment Print

Notification No. 36/2023-Income Tax, provides tax exemptions under section 10(23FE) for foreign pension fund – 2743298 Ontario Limited, for eligible investments made in India

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