The News Flash

Subject Matter	Regulatory Domain	Download
MCA update on launching of Beta Version of Master Data Services in V3 Version July 10, 2023	Corporate Law
Important changes with respect to Liberalised Remittance Scheme (LRS) and Tax Collected at Source (TCS) June 29, 2023	Direct Tax
CBDT modifies Rules & Forms applicable to Educational & Charitable Institutions June 29, 2023	Direct Tax
Order under Section 119 of the Income-Tax Act, for extension of time limits for submission of certain TDS/TCS Statements June 29, 2023	Direct Tax
Biometric based authentication has been facilitated for demographic mismatch in Aadhar and PAN Linking June 24, 2023	Direct Tax
Relaxation in paying additional fees in case of delay in filing DPT‐3 for Financial Year ended on March 31, 2023 up to July 31, 2023 June 23, 2023	Corporate Law
CBDT Amends IT Rules For New Tax Regimes, Introduces Form 10-IEA June 22, 2023	Direct Tax
Cost Inflation Index (CII) for FY 2023-24 Notified by CBDT June 13, 2023	Direct Tax
Form CSR-2 to be submitted separately for FY 2022-2023 June 12, 2023	Corporate Law
Central Board of Direct Taxes Notifies “e-Appeals Scheme 2023”; Ensures Electronic Filing and Processing of Appeals June 01, 2023	Direct Tax
CBDT notifies INR 25,00,000 for leave encashment exemption under section 10(10AA) for non-government salaried employees May 26, 2023	Direct Tax
CBDT Releases New Guidelines; Clarifies Parameters for Compulsory Selection of Returns for Complete Scrutiny During FY 2023-24 May 26, 2023	Direct Tax
Clarification regarding provisions relating to charitable and religious trusts May 26, 2023	Direct Tax
CBDT has issued guidelines for removal of difficulties under section 194BA (3) of the lncome Tax Act, 1961 May 24, 2023	Direct Tax
Clarification regarding applicability of Tax Collection at Source to small Debit/Credit Transactions under LRS May 20, 2023	Direct Tax
₹2000 Denomination Banknotes withdrawn from Circulation by RBI; However, it will continue as Legal Tender May 20, 2023	Direct Tax
CBDT proposes changes to Rule 11UA in respect of “ANGEL TAX” – Also proposes to notify Excluded Entities May 20, 2023	Direct Tax
Supreme Court Fortifies Landmarking Ruling of New Noble Education Trust; Activities Undertaken by Educational Institutions Must be ‘Solely’ for Education Purpose and Not Profit Oriented May 15, 2023	Direct Tax
CBIC reduces E-invoicing limit 5 cr from existing limit of 10 cr w.e.f. August 01, 2023 May 12, 2023	Indirect Tax
27 Key Changes Introduced in New ITR Forms for AY 2023-24 April 28, 2023	Direct Tax
Presence of Incriminating Material Indispensable for Invoking Assessment Under Section 153A of the Income Tax Act 1961; Supreme Court Upholds Kabul Chawla Ruling April 25, 2023	Direct Tax
Launching of STK-2 (E form for striking off name of companies at MCA) on V3 Version of MCA Portal April 24, 2023	Corporate Law
Establishment of Center for Processing Accelerated Corporate Exit by MCA April 21, 2023	Corporate Law
Whether the arm’s length price determined by the Tribunal shall attain finality and the High Court is precluded from re-considering the arm’s length price determined by the Tribunal, in exercise of powers under Section 260A of the Act? April 20, 2023	Direct Tax
TDS rate chart for FY 2023-2024 April 13, 2023	Direct Tax
Time limit for generating E-Invoices w.e.f. May 01, 2023 April 13, 2023	Indirect Tax
Cost inflation index (CII) for FY 2023-24 April 11, 2023	Direct Tax
GST Amnesty Scheme 2023 April 07, 2023	Indirect Tax
Clarification regarding deduction of TDS under section 192 read with Section 115BAC(1A) April 07, 2023	Direct Tax
Last date of linking of PAN-Aadhaar has been further extended by CBDT March 28, 2023	Direct Tax
Amendment to the Finance Bill, 2023 as passed by the Lok Sabha on March 24, 2023 March 27, 2023	Direct Tax
All Taxpayers Can Now Access Data Effortlessly; Income Tax Department Launches New Mobile App ‘AIS for Taxpayers’ March 23, 2023	Direct Tax
Delayed payments to MSME’s now entail consequences under multiple regulations March 18, 2023	Corporate Law
Crypto currency businesses, Crypto Transactions and Virtual Assets to come under the Money Laundering Act March 09, 2023	Direct Tax
CBDT released income tax calculator live on the income tax department’s portal February 21, 2023	Indirect Tax
Introduction of Negative Values in Table 4 of GSTR-3B February 18, 2023	Indirect Tax
ITR Forms 1 to 6 and ITR V for AY 2023-24 notified by CBDT February 15, 2023	Direct Tax
GST updates February 06, 2023	Indirect Tax
GSTN issues Advisory on portal changes January 18, 2023	Indirect Tax
MCA clarifications on migration of MCA Portal from V2 Version to V3 Version January 10, 2023	Corporate Law
Extension of time limit for claiming exemption under section 54 to 54GB January 07, 2023	Direct Tax
Timelines for holding AGM/EGM through video or other audio video means further extended January 02, 2023	Corporate Law