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News & Events

27/12/2024  India's forex reserves fall to $644.39 billion, down $8.4 billion as of Dec 20  Current account deficit narrows to $11.2 billion in Q2 FY25  Indian banks’ profitability improves for 6th consecutive year  Scope for Credit growth to Outpace Economy - RBI  January 1, 2025 this tax statement will reflect the net TDS/TCS benefit on Eligible Income  Budget 2025: Cut income tax rates! The clamour is getting Louder for a Reason  Expect Economy to Grow at Around 6.5 Per Cent in FY25  New GSTN guidelines for transport via Indian Railways  RBI red flags increased risk of cyber-attacks, Digital Frauds and Data Breaches  RBI sets up 8-member panel on ethical use of AI  RBI sets up 8-member panel on ethical use of AI 26/12/2024  15 income tax rule changes in 2024 that will impact your ITR filing in 2025  Rupee falls 9 paise to hit all-time low of 85.24 against US dollar in early trade  Senior IAS officer Arunish Chawla is Appointed Revenue Secretary 25/12/2024  NFRA slaps Rs 2 crore fine on Deloitte Haskins for lapses in ZEEL Audit  NFRA flags deficiencies in BSR & Co's audit of Related Party Transactions  Income tax rate cut in Budget: Top economists urge Modi to lessen burden for Indians  Popcorn, in loose form, sold in movie theatres to attract 5% GST  Higher GST of 18% will impact individuals and businesses  NFRA penalises Deloitte Haskins & Sells LLP, 2 Auditors for lapses in ZEEL Audits 24/12/2024  Union Budget 2025: Sitharaman May Introduce a New Customs Playbook; tweaks to turn tariffs into treasure  ICAI to have 11 centres of excellence in three years  ICAI expects to finalise international networking guidelines for CA firms this fiscal  GST Advisory for Entry of Receipt Numbers Pertaining to Leased Wagons in the E-Way Bill System 23/12/2024  Income tax dispute: Avail Vivad Se Vishwas scheme before December 31, 2024 to pay lower tax Amount  GST Council clears "track and trace" Mechanism, Cigarettes and Pan Masala likely first Targets

Notification/Circulars

27/12/2024  Reporting Platform for transactions undertaken to hedge price risk of gold  Unified Payments Interface (UPI) access for Prepaid Payment Instruments (PPIs) through third-party applications 17/12/2024  Guidance Note 2/2024 on provisions of the Direct Tax Vivad se Vishwas Scheme, 2024 - reg. 09/12/2024  Credit Flow to Agriculture – Collateral free agricultural loans  Maintenance of Cash Reserve Ratio (CRR)  Interest Rates on Foreign Currency (Non-resident) Accounts (Banks) [FCNR(B)] Deposits 04/12/2024  Extension of time for filing Forms to monitor liquidation and voluntary liquidation processes under the Insolvency and Bankruptcy Code, 2016, and the regulations made thereunder.  Implementation of Section 51A of UAPA,1967: Updates to UNSC’s 1267/ 1989 ISIL (Da'esh) & Al-Qaida Sanctions List: Amendments in 03 Entries  Amendment to Framework for Facilitating Small Value Digital Payments in Offline Mode 03/12/2024  Inoperative Accounts / Unclaimed Deposits in banks

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