Dear Chartered Accountants, working professionals and students in the domains of Indian auditing, accounting and the tax & regulatory space, welcome to Podcast of FCA Deepak Rao a practicing Chartered Accountant. Daily news & update for 22nd June 2023 Finance Act 2023 made various amendments to Section 115BAC, including making it the default tax regime and extending it to AOP, BOI, AJP, etc. The CBDT has notified the corresponding amendments to Rules 2BB, 3 and 5 to incorporate the provisions of the new tax regime. The notification has also inserted Rule 21AGA and Form 10-IEA to enable the assessee to opt for the old tax regime. The CBDT has notified the appeals that shall be completed under the recently notified e-Appeal Scheme 2023. Additionally, the Board has specified the cases that are not included within the scope of the e-appeal Scheme. The Income Tax Department has introduced a new tab on the e-filing portal for accessing the Annual Information Statement or AIS. This new tab makes it easier for taxpayers to access their AIS and to view the information that has been reported to the Income Tax Department about them. The AIS is a document that contains information about your income, investments, and tax deductions. It is generated by the Income Tax Department based on the information you have submitted in your income tax returns. CBDT issued an order on June 16, 2023 to specify the scope of the e-Appeals Scheme, 2023 under Section 246(6) of the Income-tax Act, 1961. The order aims to streamline the appeals process and bring greater efficiency and convenience to taxpayers. Telangana is emerging as a formidable economic power in the country, recording a remarkable growth in a short span of time. This is evident from the State achieving a 69 percent growth rate in GST collections in less than four years. As per the latest report submitted to the CAG, the GST revenue of Telangana increased from Rs 28,786 crore in 2018-19 to Rs 41,889 crore in 2022-23, amounting to a substantial rise of Rs 13,103 crore. This Podcast is sponsored by Sound of CA: We share because we care. Vande Mataram Jai Hind