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 23rd June 2023 The Ministry of Corporate Affairs has extended the due date of filing return of deposits Form DPT-3 by 1 month till July 31, 2023. The original due date was June 30, 2023. The GST authorities have busted a major GST evasion racket worth ₹30,000 crore across 16 states. The racket was allegedly being operated by a group of people who had stolen the PAN and Aadhaar details of beneficiaries of several government schemes, including PM Kisan. The stolen identities were then used to create shell companies and fake GST registrations. As per the AIF Regulations, the AIFs are required to issue units in dematerialised form, subject to the conditions specified by SEBI. Now, SEBI has directed all the AIFs schemes with a corpus of not less than Rs 500 Cr. to dematerialise its units by 31.10.2023. For AIF schemes with a corpus less than Rs 500 Cr., the due date is 30.04.2024. Further, from 01.11.2023, units can only be issued in dematerialised form for schemes with a corpus of not less than Rs 500 cr. SEBI has issued interim order-cum-showcause notices, restraining 135 entities from accessing the securities market on alleged manipulation of shares of five smallcaps. SEBI stated that he modus operandi followed apparently under a pre-planned scheme by the entities mainly centered around circulation of Bulk SMSs in five scrips with a buy recommendation to public investors. The scheme involved 3 major sets of entities namely, Price Volume Influencers, SMS Sender and Off Loaders. CBDT issued Notification No. 43/2023-Income Tax dated 21st June 2023 and notified New Form 10IEA for Opting & withdrawing from New Tax regime for FY 23-24. This notification introduces new rules to amend the Income-tax Rules, 1961. This Podcast is sponsored by Sound of CA: We share because we care. Vande Mataram Jai Hind