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Indian News
Table of Articles
Startups oppose separate law on digital markets
Govt. to revamp patenting process: Sanjeev Sanyal
India-UAE agreement: Easier norms for gold import on the anvil
India wants non-financial assets included in OECD info exchange framework
Rs 11 crore seized in income tax searches on steel company
NFRA examines proposals on new standard for accounting of insurance contracts viz. Ind AS 117
LIC front-running case: Sebi bans three individuals, two entities from stock market
ITAT: Tax relief on builder-paid rent in redevelopment projects
RBI removes restrictions on individuals from opening interest-earning FCAs
Coffee Day audit lapses: NFRA slaps Rs 1.15 cr fine on 2 auditors, 1 audit firm
FinMin considering classifying online games as games of skill, chance
Sebi crackdown on fake Telegram channels; Rs 5.7 crore penalty on 3 entities for ‘pump & dump’ stock tips
SC asks tax tribunals to ensure appeals are e-filed
Eligibility standards may be prescribed: Govt mulls size threshold for auditors of large firms
Mattresses supplied to school hostels not exempt from GST: Tamil Nadu AAR
High-balance bank accounts without updated KYC under govt's radar
Sebi bars brokers from creating bank guarantees with client funds
Sebi asks AMCs to file final offer documents digitally
SC’s decision on reassessment under I-T Act in absence of incriminating evidence is mixed bag: Experts
RBI imposes Rs 44 lakh penalty on 4 co-operative banks for violation
Government not against “flash sales,” but will not tolerate “cheating” on e-comm platforms: Piyush Goyal
Personal income tax to GDP ratio surges, indicating rise in taxpayer base
Incriminating material must for any addition to taxable income: SC
RBI's wider NDF access may require foreign exposure proof: Bankers
Sebi recommends cancelling registration of eight AIFs
Governors must assent or send back bills ‘as soon as possible’: Supreme Court
Allow foreign currency transactions in country via RBI: Consultants & service providers urge govt
Don’t account on ChatGPT
I-T dept cracks down on Bajaj Allianz, ICICI Prudential amid wider probe
UIDAI, NPCI to set up eKYC aggregator, fin entities to gain
Starting this FY, companies must maintain audit trail
GST evasion: Taxmen using data analytics to identify 'missing link' in supply chain
NFRA imposes fine, debars auditors for 3 yrs for professional misconduct, other lapses in audit of SRS Ltd
Competition law changes: CCI to start public consultations on Regulations
RBI looks askance at co-lending arrangements
No proposal to regulate finfluencers, clampdown on ponzi apps in works: FM
HC can decide on transfer pricing litigation, rules SC
India Inc should prepare for a national carbon market
Sebi plans to allow mutual funds with performance-based fees
New customs interface “moving towards normalcy”, claims CBIC
Sebi bans Care Ratings' former MD & CEO Rajesh Mokashi for manipulating rating process
Audit intricacy, access to talent make splitting audit-non-audit biz tough
ICAI focuses on enhancing audit quality
New ICAI president says emphasis on blending new age thinking with traditional approach
ICAI to widen peer review process for auditors: Talati
Auditors Not Expected To Look At Every Single Invoice, Transaction: ICAI President
Tax treaty rate cannot override dividend distribution tax rate: I-T tribunal
RBI to meet board members of PSU banks to address ethics issues on May 22
SC says no lawyer can go on strike or abstain from court work, asks high courts to set up panel for grievance redressal
Asked to tally funds in A/Cs to filings: Closer scrutiny on tax filings of NRIs
GST evasion detection nearly doubles to Rs 1.01 lakh cr in FY23
Standardising ESG reporting
Corporate failures: Auditors are soft targets for blame
RBI to come up with new rules on classification of accounts as fraudulent
Is interest income earned on Mahila Samman Savings Certificate tax free?
IGST sections are valid: HC referral bench
No input tax credit: Intra-co services GST a pain
Trading of Nifty index set to shift from Singapore exchange to GIFT City platform
Exam jitters grip finance pros as Sebi mandates certification
After insurance firms, now private banks under income tax scanner
India reimposes windfall tax on crude oil, levy on diesel exports scrapped
No proposal before govt on capital gains tax, says Income Tax dept
Appeal by firm can be heard even without certified copy of order: HC
Employee services from branch office to head office, and vice versa to attract 18 pc GST: AAR
AP: CAs move HC challenging CID's notices
I-T Dept sends 8,000 notices to taxpayers who claimed exemption for charity
CBI arrests Income Tax officer for helping colleague escape during Gujarat ACB bribery trap
Government eyes higher capital gains tax for rich to curb inequality
Expert group may seek quick recap of MDBs
Scammers targeting users while they file income tax return, beware of new tax SMS scam
DGFT lays out procedure for exporters to apply for amnesty scheme
Google withdraws appeal in SC against NCLAT in anti-competition case
Stricter rules against shell companies on the anvil
Sebi comes out with dispute resolution mechanism for Limited Purpose Clearing Corporation
PwC India to invest ₹600 crore in people development in next 3 years
CBIC may soon introduce automated system of publishing daily exchange rates for 22 currencies
New data processing unit to streamline corp filings
SEBI cracks down on Brightcom Group for accounting irregularities
RBI's norms on outsourcing IT services will improve corporate governance
New foreign trade policy tightens norms on ‘gift’ imports
NFRA imposes ban, fine on DHFL branch auditors
FinMin plans ₹3,000 cr. additional capital infusion in PSU general insurance cos in FY24
What is ‘Dabba trading’ and how does it affect the economy?
Any action on crypto assets will have to be global: Nirmala Sitharaman
Government plans to introduce bills to amend companies, insolvency laws in Parliament's monsoon session
Delhi HC upholds notifications imposing GST on Ola, Uber auto rides
Firms with Rs 100 cr turnover have to upload e-invoices within 7 days
Higher EPS Pension: Allow contribution towards higher pension without proof, Kerala HC tells EPFO
Rupee trade arrangement to help reduce transactions cost, says Piyush Goyal
Report on health cover for 'missing middle' soon: Irdai
'RBI's proposal to regulate bank penal charges could dent lenders revenues'
Can't use penal charges to up revenue: RBI to lenders
Reserve Bank of India proposes threshold for penal charges on loans
Competition law amendment bill gets President's assent
Sebi imposes fine worth ₹15 lakh on 3 individuals for non-genuine trades
SC axes judge for giving verdicts without dictating full judgments
Irdai chief urges insurers to increase their capital for faster growth
Cyprus-based betting website under scanner for GST evasion
RBI issues framework for acceptance of green deposits by banks, NBFCs
Search and seizure action by Income Tax Department in Karnataka
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AY 2024-25
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RBI Master Circulars / Directions for 2024-25
SEBI Master Circulars / Regulations published in 2024
IRDAI Master Circulars published in 2024
Important Updates
Weekly Newsletter - January 8, 2025
Daily Newsletter - January 8, 2025
ICAI Exposure Draft: Ind AS 118, Presentation and Disclosure in Financial Statements
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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
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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
NFRA slaps a penalty of Rs 2 crore on Deloitte Haskins for ZEEL audit
ICAI Technical Guide: GST Annual Return (Form GSTR 9)
FRC Reference Material: Annual Audit Quality Inspection Findings 2023-24 Tier 2 and Tier 3 Audit Firms