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Formula to Calculate Net Winnings & New Form 16, 24Q, 26Q, 27Q & 27EQ

May 22, 2023 2742 Views 0 comment Print

Amendment in Income tax Rules, 1962, insertion of new rule 133 for prescribing calculation of net winnings for online games, notification of revised Form No. 16, Form 24Q, Form 26Q, Form 27Q, and Form 27EQ – Notification No. 28/2023-Income Tax | Dated: 22.05.2023 Central Board of Direct Taxes ICBDT) has issued Notification No. 28/2023-Income Tax […]

Pages missing in Boards/Auditors Report – MCA Imposes Penalty

May 22, 2023 5949 Views 1 comment Print

It was observed that company failed to attach complete copy of Director’s Report and Auditors Report, resulting in missing pages in Board’s Report and Auditors Report.

Banks to maintain daily data on deposit & exchange of ₹2000 banknotes: RBI

May 22, 2023 10284 Views 0 comment Print

Banks are advised to make necessary arrangements at their branches to accommodate customers seeking to exchange ₹2000 banknotes. This includes providing shaded waiting spaces, drinking water facilities, and other amenities, considering the ongoing summer season.

DGFT amends Export Policy of Cough Syrup

May 22, 2023 1443 Views 0 comment Print

The export of Cough Syrup under ITC (HS) Codes falling under the Heading 3004 shall be permitted subject to the export sample being tested and production of Certificate of Analysis (CoA) issued by any of the laboratories as mentioned in Para-1 above, with effect from 1st June 2023. MINISTRY OF COMMERCE AND INDUSTRY (Department of […]

SEBI Consultation Paper on Institutional Mechanism for AMCs

May 21, 2023 822 Views 0 comment Print

SEBI released a consultation paper on institutional mechanism for asset management companies (AMCs) to deter possible market abuse & fraudulent transactions.

SEBI Consultation Paper: Strengthening Investor Grievance Handling

May 21, 2023 1371 Views 0 comment Print

SEBI released a consultation paper seeking public comments on enhancing the investor grievance handling mechanism. The proposal aims to strengthen the process by integrating the SEBI Complaint Redressal System (SCORES) with recently approved online dispute resolution (ODR) mechanism

SEBI’s Proposed Initiatives to Enhance Liquidity in Corporate Bond Market

May 21, 2023 672 Views 0 comment Print

The Securities and Exchange Board of India (SEBI) has issued a consultation paper proposing measures to enable direct participation by clients/participants in the tri-party repo segment for corporate bonds. The  objective is to enhance liquidity in the corporate bond market and develop an active repo market. The proposal seeks to allow entities such as bodies […]

Service Tax not payable on Airport User Development Fee: SC

May 20, 2023 1689 Views 0 comment Print

Supreme Court held that ‘User Development Fee’ collected by Mumbai International Airport Pvt Ltd, Delhi International Airpirt Pvt Ltd and Hyderabad International Airport Pvt Ltd were not subject to Service Tax. 

Bihar Entertainment Tax Act, 1948 cannot survive after 101st Amendment: HC

May 20, 2023 651 Views 0 comment Print

DEN Networks Limited Vs State of Bihar (Patna High Court) HC held that We have to reiterate that the inconsistent provisions in the Bihar State legislations which were sought to be continued for one year or till the amendment or repeal by the respective State Legislatures, by virtue of Section 19 of the 101st Amendment, […]

Cabinet approves MOU between CAI and The Chartered Accountants of Maldives

May 20, 2023 996 Views 0 comment Print

Cabinet approves Memorandum of Understanding (MOU) between Institute of Chartered Accountants of India (ICAI) and The Chartered Accountants of the Maldives The Union Cabinet, chaired by the Hon’ble Prime Minister Shri Narendra Modi, today approved the signing of Memorandum of Understanding between Institute of Chartered Accountants of India (ICAI) and The Chartered Accountants of the […]

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