NICAI UPDATES

NICAI Updates; 1. Today [September 15, 2023] is the last date for the second instalment of Advance Tax for the Financial Year 2023-24 (AY 2024-25). 2. CBDT notified the exemption from capital gains tax of any unit of investment trust; a unit of a scheme; and a unit of an Exchange Traded Fund (ETF) launched under the International Financial Services Centres Authority (Fund Management) Regulations, 2022. 3. TCS will come into effect from October 1, 2023. Whether you are going for an international trip, investing in foreign stocks, mutual funds, or cryptocurrencies abroad, or going abroad for higher studies, you will have to pay TCS if you spend above a certain amount in a financial year.  4. Notification has been issued by the Finance Ministry for constitution of State Benches of GST Appellate Tribunal. Total 31 benches have been notified. Two Benches in Rajasthan at Jaipur and Jodhpur and One Bench-  Delhi. By CA (Dr.) Raj Chawla