Union Finance Minister Smt. Nirmala Sitharaman concludes pre-Budget meetings for forthcoming Union Budget 2023-24 Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman chaired the pre-budget consultation meetings for Budget 2023-24 held in virtual mode from 21st to 28th November, 2022. The pre-budget meeting were concluded here today. More than 110 invitees representing 7 stakeholder groups […]
Institute of Cost Accountants of India conducted election of President and Vice-President . CMA Vijender Sharma has been elected as the President and CMA Rakesh Bhalla has been elected as the Vice-President of for the year 2022-23.
s agricultural land is not covered under the definition of Capital asset, capital gains on transfer of the same is not taxed. Suitable provisions may be introduced to exclude this Capital gain while calculating Book Profit for the purpose of MAT.
Chartered Accountants Association Surat (CASS) Comprehensive Pre-Budget 2023-24 Memorandum by CAAS highlighting hardships and areas of improvement where Income-Tax can become taxpayer friendly tax. Sr. No. Existing provision under the I. T. Act, 1961 Section 2 of Finance act: – Tax rates for non-corporate Tax payers 1 Difficulty / Issue 1) Tax rates for corporates […]
Key Features – Return Preparation Utility (RPU) version 4.4 e-TDS/TCS Return Preparation Utility Ver. 4.4 for Regular & Correction Statement(s) from FY 2007-08 onwards. 5 new section codes are added under Annexure I (i.e. deductee details) of Form 26Q which are as below: Section Nature of payment (description to be populated for this section code […]
Before accepting an Aadhaar either in physical or electronic form for establishing identity of an individual, entities should verify the Aadhaar.
List of agencies of the United Nations, and other international agencies and organizations notified by the Central Government to be not covered by the definition of ‘foreign source’, under section 2(1)(j)(ii) of the Foreign Contribution (Regulation) Act, 2010 ****** The United Nations System I. Secretariat 1. Office of Internal Oversight Services, New York. 2. Office […]
The present format of ITR as well as the one proposed in the draft Common ITR, requires the assessee to furnish Financial Statements in a format adapted to the requirements of the department for variety of reasons including meaningful analysis.
IRDAI has committed to enable ‘Insurance for All’ by 2047, where every citizen has an appropriate life, health and property insurance cover and every enterprise is supported by appropriate insurance solutions and also to make Indian insurance sector globally attractive.
Every Indian Re-insurer including Foreign Re-insurance Branches (FRBs) shall maintain a minimum retention within India of 50% of Indian reinsurance business underwritten. Any retrocession to an IIO up to 20% of Indian reinsurance business underwritten shall be reckoned towards the required minimum retention of 50%.
