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Empanelment of Members to act as Observers at Examination Centres for May / June 2023 CA Exams
02 February 2023 at 08:37It is proposed to empanel members to act as Observers for the forthcoming May/June -2023 Chartered Accountants Examinations
ICAI invites suggestions on tax proposals of Union Budget 2023-24
02 February 2023 at 08:36Please submit your valuable suggestions latest by 11th February, 2023.
CA Foundation Dec 2022 results likely to be declared on 3rd February 2023
02 February 2023 at 08:35The results of the Chartered Accountants Foundation Examination held in December 2022 is likely to be declared on Friday, the 3rd February, 2023
Budget 2023-24: Increasing threshold limit for co-operatives to withdraw cash without TDS
01 February 2023 at 22:01Section 194N of the Act provides that a banking company or a co-operative society engaged in carrying on the business of banking or a post office, which is responsible for paying any sum to any person (referred to as the recipient) shall, at the time
Budget 2023-24: Extending the scope for deduction of tax at source to lower or nil rate
01 February 2023 at 22:01Section 197 of the Act relates to grant of a certificate of tax deduction at lower or nil rate. It provides for assessee to apply to the Assessing Officer for TDS at zero rate or lower rate, if the tax is required to be deducted under sections 192, 1
Budget 2023-24: Tax avoidance through distribution by business trusts to its unit holders
01 February 2023 at 21:45Finance (No.2) Act, 2014 introduced a special taxation regime for Real Estate Investment Trust (REIT) and Infrastructure Investment Trust (InVIT) [commonly referred to as business trusts]. The special regime was introduced in order to address the cha
Budget 2023-24: Limiting the roll over benefit claimed under section 54 and section 54F
01 February 2023 at 21:44The existing provisions of section 54 and section 54F of the Income-tax, 1961 (the Act) allows deduction on the Capital gains arising from the transfer of long-term capital asset if an assessee, within a period of one year before or two years after t
Budget 2023-24: Special provision for taxation of capital gains in case of Market Linked Debentures
01 February 2023 at 21:15It has been noticed that a variety of hybrid securities that combine features of plain vanilla debt securities and exchange traded derivatives are being issued through private placements and listed on stock exchanges. It is seen that such securities
Rationalisation of exempt income under life insurance policies
01 February 2023 at 21:15Clause (10D) of section 10 of the Act provides for income-tax exemption on the sum received under a life insurance policy, including bonus on such policy. There is a condition that the premium payable for any of the years during the terms of the poli
Budget 2023-24: Clarification regarding advance tax while filing Updated Return
01 February 2023 at 17:30The Finance Act, 2022 inserted sub-section (8A) in section 139 of the Act enabling the furnishing of an updated return by taxpayers up to two years from the end of the relevant assessment year subject to fulfilment of certain conditions as well as pa
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