Monthly Archives: March 2023

Amendments made in Finance Bill, 2023

Posted on March 24, 2023

Scope of newly introduced Section 50AA (Special provision for computation of capital gains in case of Market Linked Debenture) expanded to include Specified Mutual Funds Amendment has been made to the newly introduced Section 50AA in Finance Bill 2023 to include … Continue reading →

Posted in Direct Tax |

Corporate Social Responsibility Under Section 135 of Companies Act 2013

Posted on March 17, 2023

Background  The importance of inclusive growth is widely recognized as an essential part of India’s quest for development. In line with this national endeavor, Corporate Social Responsibility (CSR) was conceived as an instrument for integrating social, environmental, and development concerns … Continue reading →

Posted in Audit & Assurance |

CBDT apprises on e-Verification Scheme’s Process, Stats & Benefits

Posted on March 17, 2023

CBDT had notified a e-Verification Scheme, 2021 (the “Scheme”) on 13th December, 2021 to encourage voluntary tax compliance and to facilitate a transparent and non-intrusive tax administration. The Department has been collecting information of financial transactions from multiple sources and … Continue reading →

Posted in Direct Tax |

Applicability of Internal Financial Controls (IFCs) on Private Limited Companies

Posted on March 7, 2023

Note on Applicability of Internal Financial Controls (IFCs) (Legal Status as at 25th February 2023) Internal Financial Controls (IFCs)– Applicability on Private Limited Companies As per provisions of Section 143(3)(i) of Companies Act,2013 (hereinafter referred as CA 2013), The Auditor … Continue reading →

Posted in Audit & Assurance |