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Daily Newsletter - March 6, 2024

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Latest additions to CAalley:

News Update:

Indian News

International News

Legal Updates:

Income Tax

CCI

RBI


  

News Update:

Indian News:

MCA notifies Competition Act provision to levy penalty on global turnover

Banks must give customers choice to select credit card network: RBI

Processed pulses to attract 18% GST, says AAR in case involving agri broker

Pending income tax refunds relating to AY 2021-22 would be processed by this date; check email for confirmation

NFRA changes tack, ramps up focus on supervision to boost audit ecosystem: Chairman AB Pandey

30 banks join RBI UDGAM to search for recipients of unclaimed deposits

CBDT allows certain trusts / institutions to furnish audit report in applicable Form No. 10B / 10BB on ...

RBI bars JM Financial Products from financing against shares, debentures

Banks to bring in extra KYC verification layers

How a fake number landed UAE fund in tax soup

RBI clears 'interoperable' net banking payments

FM Sitharaman calls for clarity on GST classification-related issues

I-T dept asks taxpayers to file updated ITRs for AY 2021-22 by March 31

Finance ministry looking to modify income tax rule on payments to MSMEs within 45 days

 

International News:

ICEAW: Audit fees rise by 75% since 2017

PCAOB Sanctions Gries & Associates for Audit Failures, Imposes $65,000 Fine on Firm and Founder

93% of firms use a mix of ESG standards, thwarting uniformity efforts: IFAC

KPMG fined $2 million for 'failures' in M&C Saatchi audit

US: Accounting firm sued over Ponzi scheme


Legal Updates:

Income Tax:

The Income-tax (Fourth Amendment) Rules, 2024 - Amendment of Form nos 3CD, 3CEB and 65 [Notification No.27]

Regarding exemption to any trust or institution registered u/s 12AA or 12AB - Circular u/s 119 of the Income-tax Act, 1961 [Circular No.3]

Certain trusts / institutions allowed to furnish audit report in applicable Form No. 10B / 10BB on or before 31st March, 2024 [Circular No.2]

Promoting Voluntary Compliance through e-Verification Scheme-2021 [Press Release]

 

CCI:

Enforcement of provisions of sections 20, 35 and 40 of the Competition (Amendment) Act, 2023

 

RBI:

Arrangements with Card Networks for issue of Credit Cards

Money Transfer Service Scheme - Submission of Statement on CIMS


 

 

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