On the digital payment ecosystem, Shri Pankaj Chaudhary stated that the total volumes of digital payments increased from 1459.02 crore in FY 2017-18 to 4371.18 crore in FY 2020-21 due to sustained efforts towards digitalisation.
ICAI has issued an Exposure Draft that sets out the proposal of the IASB for a new IFRS Standard - Subsidiaries without Public Accountability: Disclosures. Comments on the ED may be sent electronically or via email or post by 15.12.2021.
In a move aimed to further improve taxpayer services in alignment with the Taxpayers’ Charter, the Income Tax Department creates dedicated e-mail ids for registering grievances in respect of pending cases under the Faceless Scheme.
Income tax refunds of Rs. 13,694 crore have been issued in 20,12,802 cases & corporate tax refunds of Rs. 32,203 crore have been issued in 1,19,173 cases.
Students who have provisionally registered for CA Inter through Direct Entry route and have completed their ICITSS Course by 31.07.21 are now required to start their Practical Training on or before 15th August 2021 instead of by 1st August 2021.
ICAI has extended the time period for admission in Foundation Course for appearing in December 2021 exam. As such, students can now provisionally register in the course by 16.08.21 and may send their Class XII marksheet by 10.09.21.
Repo rate remains unchanged at 4%; GDP growth projection for FY 2021-22 retained at 9.5%. CPI Inflation is expected at 5.7% for FY 2021-22 while Consumption, Investment, and External demand are on the path of regaining traction.
This bill is likely to settle disputes with Cairn Energy Plc, Vodafone Group Plc, and 15 other companies over retrospective tax demands raised by the Union Government.
The MCA has notified a new set of Rules to amend the existing Companies (Registration of Foreign Companies) Rules, 2014 which shall come into force on the date of its publication in the Official Gazette (not yet published).
The MCA has notified a new set of Rules to amend the existing Companies (Specification of Definitions Details) Rules, 2014 which shall come into force on the date of its publication in the Official Gazette (not yet published).
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