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Weekly newsletter from Chairman, CBIC dated 28/07/2023

July 28, 2023 678 Views 0 comment Print

Decision-makers therefore cannot simply wish away the uncertainty of outcomes from the choices they make. They have to develop strategies that specifically address the challenges. This would involve multiple interacting variables; thinking that would cover a full spectrum of different experiences and scales and predict the future with varying levels of certainty.

Amendment in Export policy of De-Oiled Rice Bran

July 28, 2023 756 Views 0 comment Print

Govt amends De-Oiled Rice Bran export policy from ‘Free’ to ‘Prohibited’ until 30th November 2023. Read Notification No. 21/2023 DGFT details here.

ITAT deletes disallowances for Expense Claims Backed by Documentary Evidence

July 28, 2023 750 Views 0 comment Print

The Income Tax Appellate Tribunal (ITAT) Delhi partially allows the appeal filed by Kartikeya Enterprises for AY 2015-16, deleting certain disallowances and confirming others based on corroborative documentary evidence.

Non-holding of Board Meeting – MCA imposes Penalty

July 27, 2023 5892 Views 0 comment Print

MCA imposes penalties on Sarada Pleasure And Adventure Limited and its directors for non-holding of board meetings in violation of Section 173 of the Companies Act, 2013.

SEBI Circular 2023: Resources for Mutual Fund Trustees

July 26, 2023 855 Views 0 comment Print

SEBI issues Circular No. SEBI/HO/IMD/IMD-I – PoD1/P/CIR/2023/126 dated July 26, 2023, outlining resources and arrangements for Mutual Fund Trustees.

ITAT Bound by Jurisdictional HC Precedent on Inherited Property Indexation Base Year

July 26, 2023 594 Views 0 comment Print

ITAT Chennai dismisses the revenue’s appeal in Easwari Sukanya Krishnan Vs. ITO, upholding the indexation benefit as per the jurisdictional High Court’s binding judicial precedent.

Draft Supplier Finance Arrangements – Amendments to Ind AS 7 & Ind AS 107

July 25, 2023 1041 Views 0 comment Print

Accounting Standards Board has issued Exposure Draft of Supplier Finance Arrangements – Amendments to Ind AS 7 and Ind AS 107 corresponding to Amendments in IAS 12 issued by the IASB.

Exposure Draft: International Tax Reform – AS 22 Amendments

July 25, 2023 465 Views 0 comment Print

The Accounting Standards Board issues an Exposure Draft of International Tax Reform—Pillar Two Model Rules, proposing Amendments to AS 22 for deferred tax asset and liability recognition. Comment by August 25, 2023.

MahaRERA Order: QR Code Mandatory in Real Estate Advertisements

July 25, 2023 1482 Views 0 comment Print

Maharashtra Real Estate Regulatory Authority (MahaRERA) issues Order No. 46A/2023, making it mandatory for promoters to display QR Codes in real estate project promotions. Penalties for non-compliance.

Income Tax Rates for Financial Year 2023-24 / AY 2024-25

July 25, 2023 19089 Views 4 comments Print

Find the income tax rates for the financial year 2023-24 (assessment year 2024-25) applicable to individuals, HUFs, domestic and foreign companies, along with special tax rates and surcharge information.

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