ESI Act extended to new districts in bihar

Implementation of ESI Act,1948 in the entire area of
Arwal, Jamui, Kaimur, Khagaria, Kishanganj, Madhepura, Madhubani, Nawada, Purnia, Sheikhpura and West Champaran in the state of Bihar shall be effective from 01.06.2023.

Income tax exemption to financial businesses

The notification provides that any consideration received by certain financial businesses for issue of shares that exceeds the face value of such shares or the aggregate consideration received for such shares as exceeds the fair market value of the shares, shall be excluded while calculating Income from other sources chargeable to income-tax.