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Indian News
Table of Articles
Irdai excludes retail sector of insurance industry from arbitration clause
SEBI's instant settlement plan faces foreign investor pushback
Finance ministry notifies prospective levy of GST on corporate guarantees
Irdai sets up 12-member committee to simplify insurance policy wordings
Sebi proposes new type of high-risk mutual fund to compete with PMS
ITR filing by individuals grows 90 per cent to 6.37 crore in AY 2021-22
CRA to replace pension funds as FIP in account aggregator ecosystem
Lenders and CIC to pay Rs 100 per day for record update delay: RBI
Premature withdrawal to be allowed on all bank FDs of up to Rs 1 crore: RBI hikes limit of non-callable FDs
Sebi finalises SOP to stop promoter misuse of foreign cos for shareholding
If alerted promptly, bank must compensate for cyber fraud: Consumer court
CBDC can play important role in cross-border payment, says RBI Guv
Sebi bars finfluencer from securities market, asks to disgorge Rs 17 cr
Indian regulator probes Adani auditor EY
RBI mandates min 2 Whole Time Directors in private, foreign banks to bolster governance
Bombay high court quashes ITAT order on technical grounds, as the tribunal had gone beyond its scope
AIF trustees seek more powers to fulfil their obligations amid Sebi probe
GST Evasion: Government expecting ₹50,000 crore mop-up on recovery of dues, multiple notices sent
I-T commences 360 degree profiling of HNI tax evaders
CBDT extends date for domestic cos to gain 22% tax benefit under form 10-IC
Sebi empanels 12 entities to provide onsite digital forensic services
Allahabad high court: Entities must give toll, freight info for input tax credit claims
RBI rejigs 'too big to fail' tag for NBFCs
Sebi bans individual from securities markets for 5 years
Rs 263-crore fake GST invoice racket busted in Mumbai, one arrested
Delhi HC directs govt to refund Rs 7.12 crore IGST to Vodafone-Idea
Central Board of Indirect Taxes and Customs' special campaign 3.0 makes significant strides
Taxpayers slapped with unexpected notices for old tax demands
₹765 crore stopped from reaching hands of cyber frauds till September
File returns by due date: MCA to firms
RBI imposes Rs 2.50-cr penalty on L&T Finance for non-compliance of norms
RBI Governor Shaktikanta Das sticks to stand on crypto assets ban
GST to be paid on gold coins, white goods given as incentives, rules AAR
SC: There is no automatic application of MFN clause for lower withholding tax in India
Monetary policy ought to remain actively disinflationary: RBI Governor Das
NFRA penalises auditor for lapses in Sobha audit case
ICAI receives UN Award for its contribution to sustainability reporting
Sebi eases norms for borrowing for large corporates through debt securities
Banks disburse Rs 1,400 cr of loans under frictionless credit platform: RBI ED
Irdai mandates TP insurance to employees travelling in employer's vehicle
Illegal betting and gambling: Tax authorities losing Rs 2 lakh crore annually, says report
Govt to issue end-to-end digital authorisation for laptop, tablets' import
GST intelligence detects tax evasion of Rs 1.36 trillion so far in FY24
I-T dept may launch drive to quicken refunds
SC contempt notices to NCLAT members for defying its order
3-judge SC bench will decide if PMLA verdict needs relook
Audit committees, independent directors should ask questions to auditors and CFOs: NFRA Chair
Large banks preparing for maturity of RBI's $5 billion forex swap
MNCs sent tax notices over expat employees' allowances from foreign parent companies
Mutual funds seek SEBI support for dedicated REITs/InvITs schemes
I-T dept may raise tax demand retrospectively from telcos: Analysts
Adopt risk-based approach for periodic updation of KYC: RBI asks banks
I-T moves HC against tribunal for favouring LIC in Rs 5K cr tax cases
CCI approves merger of IDFC Ltd with IDFC FIRST Bank
RBI imposes penalty on ICICI Bank, Kotak Mahindra Bank for violation of norms
Dabur receives GST demand notice of Rs 320.60 cr, firm to challenge matter
India's top regulators investigating alternate investment funds: Report
Soon, send up to Rs 5 lakh with mobile no., bank name; no need to add beneficiary, account, IFSC
More entities get RBI's in-principle nod to operate as payment aggregator
Foreign giants on notice: Govt expects ₹2,000 crore revenue surge from GST compliance
Indian Railways looks for ways to dodge proposed GST on Dedicated Freight Corridor payouts
New angel tax regime: No scrutiny of recognised startups, says CBDT
RBI Governor awared for 'A+' ranking in Global Finance Central Banker Report 2023
Ahmedabad: One held for Rs 20cr tax evasion via GST fraud
Finance Minister Nirmala Sitharaman urges corporates to come forward and support SDGs
No penalty on non-disclosure of interest on tax refund: ITAT
Police nab kingpin of multi-crore GST scam from Delhi
Govt looking at eligibility criteria for direct overseas listing of firms
MCA probes accounts of Adani Enterprises' Mumbai, Navi Mumbai airports
Big 4 get bigger: Combined revenues of EY, KPMG, Deloitte and PwC cross Rs 32,700 crore
RBI slaps monetary penalties on RBL Bank, Union Bank, and Bajaj Finance
RBI's Shaktikanta Das says US should rethink currency manipulator list
I-T pegs tax evasion by insurance companies, intermediaries at ₹30,000 cr
Keep boards in the loop of those whistleblower reports
RBI imposes Rs 5.39 crore penalty on Paytm Payments Bank
Higher interest rate puts pressure on CASA deposits, shows survey
Banks assess carbon risk of loan book amid investor, RBI push: Reports
ITAT holds Singapore’s tax residency certificate as proof for tax treaty eligibility
"Gangajal is exempted from GST", clarifies government after Congress mounts attack
Sebi extends time for investment advisers to comply with qualification rule
Countries working to resolve differences over Global tax deal: OECD draft
DPIIT revises white goods PLI scheme: Beneficiary must get cost certificate for sales
Non-residents, foreign cos without PAN can open bank a/cs in IFSC-Gift City
LIC says it has got GST notice of Rs 37,000 for paying taxes at lower rate
Mahesh Shah’s CA jailed for ₹6.85 cr fraud
Setting up national, regional GST tribunals has started: Centre tells SC
Supreme Court says restaurants not subject to service tax for take away food orders
GST Council’s view on taxability of corporate guarantee is a mixed bag, say experts
Sebi resolves over 3,700 complaints through SCORES in September
India must be mindful of its reputation for tax terror in hunt for Swiss stash
About 70% taxpayers may shift to new regime: CBDT chairman
RBI to extend PCA supervisory norms to government-owned NBFCs from October 2024
35L refund cases 'held up' for various reasons; I-T dept call centre working to resolve: CBDT chairperson
I-T dept collects over Rs 700 crore in TDS from online gaming, crypto trade
RBI orders Bank of Baroda to suspend onboarding customers to its mobile app
IMF raises India FY24 GDP growth forecast by 20 basis points to 6.3%
India receives new Swiss bank account details in annual information exchange
Irdai to deploy Bima Vahak in every Gram Panchayat before end of 2024
Commercial Taxes dept detects use of multiple QR codes by hoteliers to evade tax
Central GST audit circle imposes penalty of Rs 18.1 million on Vedanta
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AY 2024-25
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RBI Master Circulars / Directions for 2024-25
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Important Updates
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ICAI Exposure Draft: Ind AS 118, Presentation and Disclosure in Financial Statements
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Income Tax Notification No.6: Conditional exemption for IFSC Unit upon purchase of goods
Big 4 in India outshine MNC parents; combined revenue seen at over Rs 45,000 crore in FY25
GST Advisory: Enabling filing of Application for Rectification as per Notification No.22/2024-CT, dated 08/10/24
ICAI FAQs: FAQs on Unique Document Identification Number (UDIN) (Revised 2024)
SEBI Circular: Measure for ease of doing business - Settlement of Account of Clients who have not traded in the last 30 days
Good news for taxpayers: ITR forms updated to allow 87A tax rebate claims, but there's a catch
Gujarat HC provides relief, says no GST on transfer of state land leases
Daily Newsletter - January 6, 2025
ICAI Announcement: Empanelment of Chartered Accountant firms/LLPs for the year 2025-2026
Income Tax Notification No.3: No TDS on purchase of goods from a Unit of IFSC
NFRA's audit quality inspections flag short comings in CA firm
Daily Newsletter - January 3, 2025
SEBI Master Circular: Stock Exchanges and Clearing Corporations
RBI Circular: Introduction of beneficiary bank account name look-up facility for RTGS and NEFT Systems
Customs Notification No.88(NT): Fixation of Tariff Values of Edible Oils,Brass Scrap, Areca Nut,Gold and Silver
Audit fee lowballing doesn't pay off
CGST Circular No. 243: Clarification on various issues pertaining to GST treatment of vouchers
CGST Circular No. 242: Clarification on place of supply of Online Services supplied by the suppliers of services to unregistered recipients
GST Advisory: Waiver Scheme under Section 128A
MCA Notification: The Companies (Accounts) Second Amendment Rules, 2024
Income Tax Circular No.21: Extension of due date for furnishing belated/revised return AY 24-25 in certain cases
Income Tax Circular No.20: Extension of due date for Direct Tax Vivad Se Vishwas Scheme, 2024
Audit needs to be proper
CBIC clarifies rules, says no GST to apply on pre-paid gift vouchers, cards
EPS pensioners can now withdraw their pension from any bank in India
Now you can file rectification request online for incorrect ITR processing even if it’s with the AO
I-T dept set to enhance operations in 2025 by adopting PRUDENT approach
NEFT, RTGS rule change: Verify beneficiary names easily with new account name lookup facility; when can you use it?
These bank accounts will close down from Jan 1. Check if yours is affected
Stockbrokers can ask you to submit income tax returns (ITR) to check PMLA violation
A year where audit integrity took centre stage
NFRA flags deficiencies in BSR & Co's audit of related party transactions
GST on caramel popcorn sold in theatres to stay at 5%, govt clarifies
WIRC - ICAI Publications