Tax Updates

• January 24, 2019
• CA Chandan Agarwal's Office

Tax Updates

1. Government to shift financial year to January-December, announcement likely soon: https://zeenews.india.com/economy/government-to-shift-financial-year-to-january-december-announcement-likely-soon-2173024.html
2. CBDT identifies Non-Filers through Non-Filers Monitoring System (NMS) by using Data Analytics:http://www.taxscan.in/cbdt-identifies-non-filers-through-non-filers-monitoring-system-nms-using-data-analytics/32864/
3. GUIDANCE NOTES ON BANK AUDIT: ICAI has divided Guidance Note on Bank Audit in 3 Parts:
   Section A – Statutory Central Audit: https://resource.cdn.icai.org/53700icai-aasb-ssgna.pdf
   Section B- Foreign Exchange Transactions and Integrated Treasury: https://resource.cdn.icai.org/53710icai-aasb-ssgna-b.pdf
   Section C – Bank Branch Audit other than Foreign Exchange Transactions: https://resource.cdn.icai.org/53711icai-aasb-ssgna-c.pdf
4. MCA update
   a) Companies (Furnishing of information about payment to micro and small enterprise suppliers) Order,2019: http://www.mca.gov.in/Ministry/pdf/MSMESpecifiedCompanies_22012019.pdf
   b) Companies (Acceptance of Deposits),Amendment Rules, 2019: http://www.mca.gov.in/Ministry/pdf/AcceptanceDepositsAmendmentRule_22012019.pdf