Finance

Govt. extends the initial validity period of industrial licenses to be issued from 3 years to 15 years for all kinds of licenses under Industries (Development and Regulation) Act, 1951. Revised guidelines issued for an extension of the validity of both new and existing industrial licenses.

Press Note 1 (2023 Series), dated 21-7-2023.

Direct Taxes Committee of ICAI has issued an Exposure Draft on ‘Guidance Note on Tax Audit’ under section 44AB applicable for audits of AY 2023-24. Suggestions invited latest by 6-8-2023.

Framework to freeze PAN of Designated Persons during ‘Trading Window Closure Period’ to be extended to all listed companies.

Circular No. SEBI/HO/ISD/ISD-POD-2/P/CIR/2023/124, dated 19-7-2023.

PLI portal re-opened till 31-8-2023 for inviting applications from interested companies under PLI Scheme of Textile for MMF Apparel, MMF Fabrics & Products of Technical Textiles.

Guidelines for operationalisation of PLI Scheme 2 for IT Hardware approved.

MCA approves withdrawal of another 7,338 prosecutions pending before various Courts under Special Arrears Clearance Drive II towards promoting Ease of Doing Business and Decriminalisation of Compoundable Offences under Companies Act, 2013.