GSTN launches Mera Bill Mera Adhikaar scheme to win lucky draw prizes up to one crore GSTN has developed and launched a mobile application (available on iOS and Android platforms) and also a web portal for the “Mera Bill Mera Adhikaar” scheme. This scheme is to be implemented from 1st …

MCA condones delay in filing of Form-3, Form-4 & Form-11 by Limited Liability Partnerships  General Circular No. 08/2023 F. No. Policy-01/2/2021-CL-V-MCA-Part(3) GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS 5th Floor, ‘A’ Wing Shastri Bhawan, Dr. R.P. Road, New Delhi Dated: 23.8.2023 To, DGCOA All Regional Directors/ All Registrar …

RBI issues revised penal interest guidelines for lending institutions w.e.f. 1st January 2024 As per the existing guidelines issued by RBI, lending institutions had the operational autonomy to formulate Board approved policy for levy of penal rates of interest. RBI observed that many Lending Institutions use penal rates …

Redemption of ULIP not exempt u/s 10(10D) taxable as capital gains not income from other sources, ITAT allows benefit of indexation ABCAUS Case Law Citation:ABCAUS 3795 (2023) (08) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in sustaining the addition made …

ICAI clarifies level of authority attached to Guidance Notes, Accounting Standards’ and ‘Standards on Auditing issued by it and degree of compliance required. Clarification Regarding Authority Attached to Documents Issued by ICAI 1. The Institute has, from time to time, issued ‘Guidance Notes’ on a number of matters. …

CBDT amends income tax rules for determining value of residential accommodation provided to the assessee by the employer CBDT notifies Rule for determination of value of perquisite in respect of residential accommodation provided by employer. The categorization and the limits of cities and population have now been based …