The Central Board of Direct Taxes constituted three Boards for Advance Rulings in September, 2021.
The Finance Act, 2023 brought in an amendment for the purposes of calculation of "perquisite" with regard to the value of rent-free or concessional accommodation provided to an employee, by his employer.
Amendment to the "Clarification Regarding Authority Attached to Documents Issued by the Institute" and Consequential Amendment to the "Preface to the Standards on Quality Control, Auditing, Review, Other Assurance and Related Services"
The Income Tax India portal has introduced a new feature called "Challan Correction," accessible through the path Dashboard > Services > Challan Correction.
GSTN has prepared an informative resource in the form of an e-invoice glossary and a step-by-step guide for your reference.
Institute of Chartered Accountants of India (ICAI) has rescheduled the CA Foundation December 2023 exams.
CBDT (Central Board of Direct Taxes) issued guidelines on the applicability of exemption under section 10(10D) of the Income Tax Act, 1961 (IT Act) for life insurance policies on August 16, 2023 vide Circular No. 15 of 2023.
Central Board of Direct Taxes (CBDT) notified Rule 11UACA on August 16, 2023, for tax calculation on life insurance policy amounts under section 56(2)(xiii) of the Income Tax Act, 1961 (the IT Act).
CBDT has invited suggestions/comments on the draft Form No. 6C from stakeholders and general public. The deadline for submitting suggestions/comments is August 31, 2023.
CBIC has evaluated the GST liabilities of the gaming firms in India, and it has been found that they were taxed at 18% on their gross gaming revenue, which was meant for skill-based games, instead of the legally prescribed 28%.
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