CBDT launches e-DRS 2022 to minimize litigation and offer relief to eligible taxpayers The CBDT launches e-DRS 2022 vide Press Release dated 30.08.2024; A taxpayer can opt for e-dispute resolution against the ‘specified order’ under certain conditions – E-DRS application must be filed within one month from date of receipt of specified order – if appeal is pending, E-DRS application […]
In this edition we have tried to bring you notice the latest amendment that followed in the month of August, 2024 issued by MCA, RBI and SEBI. SEBI UPDATE SEBI (Alternative Investment Funds) (Fourth Amendment) Regulations, 2024 (August 06, 2024) SEBI vide this notification amended Regulation 13(5) of SEBI (Alternative Investment Funds) Regulations, 2012 by permitting a large value fund […]
GST Calendar –Compliances for the month of July’2024 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) August 10,2024 GSTR-8 (Tax Collected at Source ‘TCS’) August 10,2024 GSTR-1 August 11,2024 IFF- Invoice furnishing facility (Availing QRMP) August 13,2024 GSTR-6 Input Service Distributor August 13,2024 GSTR-2B (Auto Generated Statement) August 14,2024 GSTR-3B August 20,2024 GSTR-5 (Non-Resident Taxable Person) August […]
Introduction China has enacted major amendments to its Company Law, marking significant changes in corporate governance and business practices. Adopted by the Standing Committee of the National People’s Congress on December 29, 2023, these reforms aim to modernize the legal framework for businesses, addressing issues such as corporate governance, shareholder rights, and aligning with international standards. The revised law, effective […]
Overview Since 31 July 2023, Consumer Duty has been effective for open products and services. The FCA granted an additional year for the application of the Duty to closed products and services, culminating on 31 July 2024. Industry Progress Firms across the industry have diligently reviewed their closed products, committing to ongoing evaluations. By the recent 31st July deadline, firms […]
In this edition we have tried to bring you notice the latest amendment that followed in the month of July, 2024 issued by MCA, RBI and SEBI. MCA UPDATE Companies (Appointment and Qualification of Directors) (Amendment) Rules, 2024 The Central Government notified the Companies (Appointment and Qualification of Directors) (Amendment) Rules, 2024. According to the Amended Rules the updating of […]
Mankind Pharma Ltd has agreed to acquire Bharat Serums and Vaccines Ltd (BSV) from private equity firm Advent International for an enterprise value of $1.63 billion (around INR 13,630 crore). The move marks a “significant leap” for Mankind Pharma, positioning it as a market leader in the Indian Women’s health and fertility drug market. The acquisition will also provide Mankind […]
While conducting Internal Audit for a Real Estate company, amongst other areas, the auditor should consider checking the below mentioned points: Promoter will first have to register its project with the authority before it shall advertise, sell or offer for sale. Therefore, all the real estate properties should be registered with RERA. Promotor will transfer 70% of the money received […]
The table below shows the proposed changes to Tax Deducted at Source (TDS) rates by the Finance (No. 2) Bill 2024 compared to the existing rates. Section Nature of Income Payer Payee TDS Rates Existing Proposed (a) (b) (c) (d) (e) (f) 194DA Payment in respect of Life Insurance Policy Every Payer Resident Person 5% 2% 194F Repurchase of Units […]
As the UK nears the final phase of campaigning ahead of Thursday’s (July 4th) general election, a free trade agreement (FTA) with India is a key topic for both the incumbent Tories and the Opposition Labour. Efforts to finalize this pact, aimed at boosting the £38.1 billion bilateral trading partnership, have been ongoing. However, with India’s general election followed by […]