As per Central Government, practicing professionals in the field of Chartered Accountancy, Company Secretaries and Cost and Works Accountants are now brought under the ambit of the Prevention of Money Laundering Act (PMLA) if any financial transactions are executed on behalf of clients. Official text of …
A new feature has been added to the Income Tax Department portal – The ability to download CSI files for TAN-based payments. With this new functionality, taxpayers can easily and securely download the CSI files for their TAN-based payments directly from the portal. Click here for more …
The Income Tax Department has initiated raids in Pune’s Aundh area this morning, targeting builders suspected of malpractices. Sindh Society in Aundh, along with three other locations, has been raided by the department. The department has not disclosed the names of the businessmen targeted in the …
Gross GST collection in April 2023 is all time high, Rs 19,495 crore more than the next highest collection of Rs. 1,67,540 crore, in April 2022 GST revenues for April 2023 are 12% higher than the GST revenues Y-o-Y Highest tax collected on a single day …
It is hereby informed that candidates can bring to the notice of the Examination Department, their observations, if any, on the question papers relating to Final and Intermediate Examinations being held in May 2023 by e-mail at examfeedback@icai.in or by way of a letter, sent by Speed Post, …
Government launches Vivad se Vishwas scheme for relief to MSMEs for COVID-19 period, as announced in the Union Budget 2023-24 Last date for submitting claims under the scheme is 30.06.2023 The Department of Expenditure, Ministry of Finance, has launched the scheme, “Vivad se Vishwas I – Relief …
The Ministry of Corporate Affairs has taken a serious view of professionals who help companies incorporate by falsely certifying they have visited the premises of the intended registered office. In an early indication of likely tightening of rules governing these professionals, the ministry has flagged its …
1. What is Accounting When a company makes money, it has to keep track of where that money came from and where it goes. This is called Accounting. 2. Accrual Accounting A method of accounting that records transactions when they happen, not when the money is …
The Income Tax Department will soon notify rules specifying the class of investors and norm of valuation for implementation of the Budget provision of taxing foreign investment in unlisted companies. The modified valuation rules would provide for ascertaining the fair market value (FMV) of shares of …
