News Update

RBI to issue fresh guidelines for banks to freeze suspected bank accounts being used for cyber crimesIsrael-Iran War: A close shave for Global Economy but for how long?I-T - If income from stock-in-trade are held as investments, then provisions of section 14A would apply to such income: ITATTRAI recommends on Infra Sharing, Spectrum Sharing & Spectrum LeasingI-T- Revisionary powers u/s 263 can't be exercised when AO has neither assumed facts incorrectly nor there is incorrect application of law : ITATTechnology Board okays funding of Dhruva Space's Solar Array ProjectI-T- Issue of interest is debatable issue on which two views are possible and AO accepted one of views for which PCIT cannot assume revisional jurisdiction: ITATHealth Secy visits Bilthoven Biologicals, discusses production of Polio VaccineI-T - Estimation of profit element from purchases should be done reasonably if assessee could not conclusively prove that purchases made are from parties as claimed, in absence of confirmations from them: ITATStudy finds Coca-Cola accounts for 11% of branded plastic pollution worldwideI-T- Triplex flats purchased are interconnected and can be considered as 'a residential unit'' as per definition of section 54F of Act : ITATDelhi HC says conspiracy against PM is a crime against StateI-T- AO omitted to probe issue of cash payments made over specified limit; revisionary power u/s 263 is rightly exercised: ITATBrazil makes new rules to streamline consumption taxesI-T-Power of revision unnecessarily exercised where AO had no scope to examine creditworthiness & genuineness of assessee's creditors: ITATBiden signs rules mandating airlines to give automatic refunds for delayed or cancelled flightsI-T-As per settled law, in absence of enabling powers, no disallowance can be made : ITATBYD trying to redefine luxury for new EV variantsGST - On the one hand, the order states registration is liable to be cancelled retrospectively and on the other hand mentions that there are no dues - Order modified: HCSC asks EC to submit more info on reliability of EVMsRight to Sleep - A Legal lullaby
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OTHER ACTS & REPORTS

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A P Shah Report: Report of the Group of Experts on Privacy (Chaired by Justice A P Shah, Former Chief Justice, Delhi High Court)
BHARDWAJ REPORT ON GTA : Report + PPP on GTA
BANKING : Regulation Act 2007
CESS : Cess laws (Repealing and Amending) Act + Notification +Abolition Act, 2006
CUSTOMS & EXCISE : Repeal Act, 2004
CA BILL: Amendment Bill, 2005 
CS BILL: Amendment Bill, 2005 + Rules
COFEPOSA ACT: Full Text of the Act
Cr Pc ACT: Latest Amendment Act + Amendment 2008
CRIMNAL LAW: Amendment Act 2013
DRUG (PRICES CONTROL) : Drugs (Prices Control) Order, 2013
DOON VALLEY : Environment Not + Not 49 + Not 50
DUTY ON PETROLEUM: Rangarajan Committee Report

Discussion Paper on Tax Accounting Standards : Report

I & B MINISTRY : Downlinking Policy 2005 + CAS Notification
Explosives Act : Notification
ENERGY: Report on Synergy in Energy
EDUCATION BILL: Draft Education Bill 2005 + NAC Recommendation
ENVIRONMENT: Rules 
EXCHANGE RATE: Manual 2005 
EXTERNAL DEBT: MOF report 2005
EDIBLE OIL : Dr Lahiri Panel Report on tax regime
Foreign Contribution (Regulation) : FC Rule + Foreign Contribution (Regulation) Act, 2010
FRBM ACT: Full text of FRBM Bill 2000
FEMA: Full text of 1999 Act
FINANCE COMMISSION REPORT: 12th Finance Commission Report
FOOD SAFETY & STANDARD BILL: Draft Outlines of the proposed Bill
FINANCE BILL 2012 : Discussion on finance bilL 2012
FINANCE MINISTERS : Budget Speech from 1947 to 2008
FIFTY- NINTH REPORT STANDING COMMITTEE ON FINANCE (2011-2012): Report
GENERAL CLAUSES: Act 
HANDBOOK FAQS : Directorate of Systems Central Board of Direct Taxes Income Tax Department
IT ACT : Proposed Amendments to Act 2000 + Information Technology Act 2009 +Information Technology Act 2008 + Rule
IFC REPORT: Full text of report on ICT
IMF REPORT: Services sector in India + Forex Reserves
INFRASTRUCTURE: Public Pvt Partnership Guidelines
I-T CHALLANS: 280, 281, 282, 283 + FBT 282, 283
INDEPENDENCE ACT : Indian Independence Act 1947
INDIRECT TAX OMBUDSMAN : Public notic no 1/2012, Dated: August 21 2012
INDUSTRIAL POLICY: Maharashtra 2013
ICAI : Guidance Note on Accounting for Real Estate Transactions (Revised 2012)
JUSTICE JS VERMA COMMITTEE REPORT: Amendments to Criminal Law
KELKAR REPORT: Interim Report + Final Report + Committee Report
KYOTO CONVENTION: WCO revised Pact
LOKPAL AND LOKAYUKTAS : ACT 2013
LIMITATION ACT : Act 

LIMITED LIABILITY PARTERNSHIP : Bill 2006

Lotteries (Regulation) Rules, 2010 : Notification
MONEY LAUNDERING : Prevention of Money Laundering Act,2002 
MoF: Manual for Purchase of Goods + Standing Committee Report on Companies Bill, 2012
MCA: The Companies Bill 2011 + The Companies Bill 2012 (As Passed By Lok Sabha on 18-12-2012)
NOTIFICATION : Govt amends Rule 12 of Ammonium Nitrate Rules to substitute one year period to 18 months
NATIONAL TAX TRIBUNAL: Amendment Act, 2007 + BILL 2005 + Act, 2005
NEIIPP: North East Industrial and Investment Promotion Policy, 2007
ORDINANCE: Criminal Law (Amendment) Ordinance, 2013
OUTCOME BUDGET: Outlays and Outcomes

OPIUM POLICY : Notification

PMEAC: Report
PSC Report: Report of the Committee On the Production Sharing Contract Mechanism in Petroleum Industry
PIL: Writ Against DTAA
PATENT ACT : Draft Notification + 2nd Amendment + Rules
PNRB: Act  + Rules
POWER POLICY: Resolution related to Tariff, 2006
PROFESSIONAL TAX: HP Bill 2005 + Maharashtra Notification
PUBLIC PRIVATE PARTNERSHIP: Guidelines Scheme for infrastructure
PUBLIC SERVICE : PUBLIC SERVICE Bill 2006
REVENUE ACT : CBR Act, 1963 (pdf) + CBR Act, 1963 (htm)
RBI: Monetary Policy Statement 2013-14
RTI : Full text of Act + Notification + New RTI Rules Notified + Guidelines on Awareness Generation and Capacity building components of Centrally Sponsored Scheme on "Improving Transparency and Accountability in government through effective implementation of Right to Information Act" for the year 2013-2014 to 2015-2016. + Amendment of Government of India's Resolution No. 89 published in the Gazette of India Part I Section1, Extraordinary dated 21st April, 2004 (read with corrigendum dated 29th April, 2004) commonly known as the Public Interest Disclosure and Protection of Informers (PIDPI) Resolution + Compilation of OMs & Notifications on Right To Information Act, 2005 NEW
PAY COMMISSION : Notification + Questionnairre
PAYMENT AND SETTLEMENT SYSTEMS : Act 2007
POSTAL ACT : Draft Amendment Bill 2006 + FAQ
SAFE HARBOUR RULES : Statement of CBDT on proposed safe harbour rules + Draft Safe Harbour Rules for Comments + Second to Sixth Report of the Rangachary Committee
SSI : Reserved & Dereserved Items +SSI Development Act 2006 + Agricultural SSI
SAFEMA ACT: Full Text of the Act
SAVINGS SCHEME : National Savings Certificates (IX Issue) Rules, 2011 Notified
SECURITIES SCAM : Action Taken Report + Securities Act 2006
STAMP DUTY: Maharashtra Stamp Ordinance II
STEEL: National Steel Policy 2005
SMEs : Development Bill -75C
TAX LAWS AMENDMENT : ACT No.29 OF 2006, DATED: JULY 14, 2006

TAX LAWS AMENDMENT : Bill No. 74 of 2005 + Taxation Amendment Bill 55 Notified (No. 55 of 2005) + Parliamentary Panel Report

TOBACCO ACT: Full Text of the Act + Notification + RULES + Amendment + Corrigendum
TRIBUNALS : Administrative Tribunals 
TRANSFER PRICING : US Regulations
UN ACT : No 46 Of 1947
WEIGHT & MEASURES ACT: (Amendment) + (Enforcement) + Notification

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Shri N K Singh, recipient of TIOL FISCAL HERITAGE AWARD 2023, delivering his acceptance speech at Fiscal Awards event held on April 6, 2024 at Taj Mahal Hotel, New Delhi.


Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.