Daily Newsletter - June 7, 2023
Latest additions to CAalley:
News Update:
Exposure Drafts:
Useful Forms:
Legal Updates:
News Update:
Farmer gets notice to pay 4.9Cr for GST as his PAN is misused
HC upholds GST rules on taxing intermediary services for clients abroad
NPS withdrawal rule set to change: Soon you can opt for periodic withdrawal instead of lump sum
Minimum assured return scheme in works; to be launched soon: PFRDA Chairman
Public sector banks, ICAI to set up common platform for balance confirmations
Work underway on non-IBC resolution formats
RBI permits banking units at IFSC to settle NDDCs in rupee
E-invoice enabled for businesses with annual turnover of Rs 5 crore
BBC ‘accepts’ it paid lower taxes in India
Centre directs banks to ensure nominees for all accounts and lockers
PCAOB Proposes Revised Audit Requirements for Non-Compliance with Laws and Regulations
Banks' reliance on AI to handle customer service worries consumer watchdog
IPSASB updates revenue transaction and transfer expense standards
ESG an “immense” market for mid-tier accounting firms to tap into
SEC’s Top Accountant Emphasizes Auditor’s Role in Detecting Corporate Fraud
Exposure Drafts:
IFRS Sustainability Disclosure Standards - Consultation on Agenda Priorities
[Last date for Comments: September 1, 2023]
Proposed International Standard on Auditing (UK) 505 (Revised)
External Confirmations
[Last date for Comments: September 1, 2023]
Useful Forms:
Income Tax Form No.16 (updated)
Certificate under section 203 of the Income-tax Act, 1961 for tax deducted at source from income chargeable under the head "Salaries"
Income Tax Form No.35 (updated)
Appeal to the Commissioner of Income-tax (Appeals)
Legal Updates:
Notification regarding Establishment of regional offices of the Competition Commission of India
Expanding the Scope of Trade Receivables Discounting System
Risk Management and Inter-Bank Dealings - Non-deliverable derivative contracts (NDDCs)
Amended Exchange Rate Notification dated June 7, 2023 [No.40(NT)]