Companies to disclose material accounting policy information in financial statements. The Companies (Indian Accounting Standards) Amendment Rules 2023 MCA has notified Companies (Indian Accounting Standards) Amendment Rules, 2023 amending the Companies (Indian Accounting Standards) Rules, 2015. The amendments come into force with effect from 1st day of April, …

Rate of interest of NSCs, KVPs Post Office Deposit Schemes for 1st Quarter FY 2023-24 Finance Ministry has increased the rate of interest of Small Savings Scheme, i.e. NSCs, KVPs Post Office Deposit Schemes, Senior Citizens Savings Schemes, etc. for 1st Quarter FY 2023-24 are as under Instuments …

Mahila Samman Savings Certificate Scheme 2023 Mahila Samman Savings Certificate Scheme 2023 has been notified w.e.f. 31.03.2023 by the Ministry of Finance. Highlights of the Mahila Samman Savings Certificate Scheme 2023 is as under: I. Application for opening an accountAn application for opening an account under this Scheme …

Banks to offer opportunity of hearing to borrowers before classifying their account as fraud – Supreme Court ABCAUS Neutral Case Law Citation:ABCAUS 3693 (2023) (03) SC In the instant case, RBI and various banks had challenged the order passed by the High Court holding that the principles of …

Period of limitation for block assessment u/s 158BC/158BE commences from the date of last Panchnama, not the date of last authorization – SC ABCAUS Neutral Case Law Citation:ABCAUS 3692 (2023) (03) SC Important Case Laws relied upon by parties:C. Ramaiah Reddy v. Assistant Commissioner of Income Tax, (2011)244 …

Forfeiture of advance received on agreement to sale of property is capital receipt not income from other sources  ABCAUS Neutral Case Law Citation:ABCAUS 3691 (2023) (03) ITAT Important Case Laws relied upon by parties:Travencore Rubber & Tea Company Ltd. Vs. CIT (2000) 243 ITR 158 (SC)CIT Vs. Meera …