NICAI Update
CA Raj Chawla
Quotes of the day:
1. Discipline definitely feels difficult, but once it becomes a habit, it guarantees success.
2. Forgive others for your own sake, So that you become free and your mind is calm.
NICAI Update:
1. ITAT Mumbai Sets Aside Income Tax Section 12AB Rejection as Trust Initiated Amendment of Overseas Fund Clause. Case Name : Your Neighbourhood Church Association Vs CIT (E).
2. Central Board of Indirect Taxes and Customs is set to introduce the proposed Eligible Manufacturer-Importer (EMI) scheme by March 1, with a draft framework expected to be released in five to six days for stakeholder consultation, the scheme will initially be introduced for two years, offering eligible manufacturer-importers a "preview" of the benefits under the new framework.
3. Delhi High Court on a writ petition seeking restoration of GST registration and amendment of address. The petitioner prayed for a writ directing the respondents to restore GST registration number with effect from 12/13 July 2017, along with all consequential benefits, and to amend the address as per the application filed for change of principal place of business.
4. RBI move to allow banks to lend directly REITs (real estate investment trusts) will widen their borrowing options, it is unlikely to reduce cost of debt in a big way, as the difference of rates between bonds/commercial papers and bank credit is merely 10-15 basis points (bps). “AAA rated companies anyways get good rates. Even after banks get the nod, difference (10-15 bps) in rates won’t be significant,
5. CA Firm’s Empanelment Application with CAG
Last date :- March 2, 2026
https://www.care.cag.gov.in/policy/notification.pdf
6. For getting more updates on job vacancies by employers and employees. Kindly join ourpage CA Empanelment Network: https://www.facebook.com/groups/138155389216801
With best regards
CA (Dr) Raj Chawla
B.Com (Hons), FCA, FCS, FCMA, LLB
MIMA, DISA, MICA, Phd, ASA (Aust), CMP (USA)
712, New Delhi House
27,Barakhamba Road, New Delhi-110001
Ph. Off. 011-43581083
Cell: 98110-81083