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Govt issues Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020
Posted Date : 01-Apr-2020 , 11:08:05 am | Posted By CASANSAAR

In order to give effect to the announcements made by the Union Finance Minister vide Press Release dated 24.03.2020, regarding several relief measures relating to statutory and regulatory compliance matters across sectors in view of COVID-19 outbreak, the govt has brought in an Ordinance o...

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Category : Income Tax | Comments : 0 | Hits : 656

MCA introduces Companies Fresh Start Scheme 2020 and Revises LLP Settlement Scheme 2020
Posted Date : 31-Mar-2020 , 10:15:58 am | Posted By CASANSAAR

In pursuance of the Government of India’s efforts to provide relief to law abiding companies and Limited Liability Partnerships (LLPs) in the wake of COVID 19, the Ministry of Corporate Affairs, has introduced the “Companies Fresh Start Scheme, 2020” and revised the “LLP Sett...

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Category : MCA | Comments : 0 | Hits : 748

Income Tax dept asks officers working from home to chase large taxpayers for dues
Posted Date : 31-Mar-2020 , 10:03:38 am | Posted By CASANSAAR

A three-month extension in deadlines for tax payment and filing of returns notwithstanding, the Income-Tax Department has asked field formations to contact large taxpayers over phone or email to follow up on pending collections. Rakesh Gupta, Commissioner of Income Tax (Coordination & Systems), ...

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Category : Income Tax | Comments : 0 | Hits : 1325

Punjab National Bank unveils new logo ahead of merger
Posted Date : 31-Mar-2020 , 09:39:31 am | Posted By CASANSAAR

Ahead of its merger with the United Bank of India (UBI) and the Oriental Bank of Commerce (OBC) from April 1, Punjab National Bank (PNB) today unveiled a new logo which bears the signages of all the three PSU banks. From the next financial year, PNB will become the second largest lender in India aft...

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Category : Banking | Comments : 0 | Hits : 5699

IBBI amends CIRP Regulations to provide relief in CIRP
Posted Date : 31-Mar-2020 , 09:29:12 am | Posted By CASANSAAR

  To address this difficulty faced by the lockdown due to COVID-19, the Insolvency and Bankruptcy Board of India (IBBI) amended the CIRP Regulations to provide that the period of lockdown imposed by the Central Government in the wake of COVID-19 outbreak shall not be counted for the purposes...

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Category : Corporate Law | Comments : 0 | Hits : 65

No Extension of the Financial Year
Posted Date : 31-Mar-2020 , 09:27:50 am | Posted By CASANSAAR

There is a fake new circulating in some section of media that the Financial Year has been extended. A notification issued by the Government of India on 30th March 2020 with respect to some other amendments done in the Indian Stamp Act is being misquoted. There is no extension of the Financial Year. ...

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Category : General | Comments : 0 | Hits : 210

Contributions to PM CARES fund will help Companies to meet CSR obligations
Posted Date : 30-Mar-2020 , 09:20:52 am | Posted By CASANSAAR

Corporates have spent Rs 52,000 crore towards social welfare activities in the last five financial years and now making contributions to the Prime Minister's relief fund will further help them meet their obligations under the companies law, according to a senior government official. As the co...

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Category : Corporate Law | Comments : 0 | Hits : 597

Lockdown period won’t be counted in IBC timeline - IBBI
Posted Date : 30-Mar-2020 , 09:07:37 am | Posted By CASANSAAR

 Lockdown period will not be counted towards the timeline for any activity under the corporate insolvency resolution process. “...the period of lockdown imposed by the Central Government in the wake of COVID19 outbreak shall not be counted for the purposes of the time-line for any acti...

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Category : Insolvent Professional | Comments : 0 | Hits : 233

PM Modi Appeal to Contribute in PM CARES fund
Posted Date : 29-Mar-2020 , 10:05:48 am | Posted By CASANSAAR

Prime Minister Narendra Modi has announced the constitution of the PM's Citizen Assistance and Relief in Emergency Situations (PM-CARES) fund. This will be a dedicated national fund with the primary objective of dealing with any kind of emergency or distress situation, like posed by the COVID-19...

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Category : General | Comments : 0 | Hits : 1059

RBI approves amalgamation of 10 public sector banks from April 1
Posted Date : 29-Mar-2020 , 10:05:36 am | Posted By CASANSAAR

Reserve Bank of India on Saturday said it has approved the amalgamation of Oriental Bank of Commerce and United Bank of India into Punjab National Bank, Syndicate Bank into Canara Bank, Andhra Bank and Corporation Bank into Union Bank of India and Allahabad Bank into Indian Bank. The scheme will ...

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Category : RBI | Comments : 0 | Hits : 1329

Recent Amendments Under GST Law including Updates on Press Conference of FM
Posted Date : 29-Mar-2020 , 09:46:51 am | Posted By CASANSAAR

Recent Amendments Under GST Law including Updates on Press Conference of Finance Minister discussed by CA.Bhavesh Mittal. Watch This Video,,, https://youtu.be/8VJca40JN98 ...

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Category : GST | Comments : 0 | Hits : 449

Defaulters must settle dues within 15 days of agreeing on amount under VSVS - CBDT
Posted Date : 29-Mar-2020 , 09:32:47 am | Posted By CASANSAAR

India’s direct taxes body has clarified that defaulters need to settle their tax dues within 15 days from the time the disputed amount is mutually agreed upon, under its dispute settlement mechanism that has now been extended till June 30. Not only that, after they are issued what is known ...

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Category : CBDT | Comments : 0 | Hits : 281

Relief Measures Under IBC due to COVID-19 Outbreak
Posted Date : 28-Mar-2020 , 08:59:24 am | Posted By CASANSAAR

Relief Measures Under IBC announced by Hon.Finance Minister due to COVID-19 Outbreak discussed by CA.Vivek Khurana (Insolvency Professional). Watch this Video,,, https://youtu.be/sAhv8jNO2_E ...

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Category : Insolvent Professional | Comments : 0 | Hits : 93

Finance Act 2020 | Finance Bill 2020 gets Presidential assent
Posted Date : 28-Mar-2020 , 08:39:51 am | Posted By CASANSAAR

Finance Act, 2020 The Finance Bill, 2020, after being passed by Lok Sabha & Rajya Sabha respectively; has received the assent of the President of India on 27th March, 2020. With this, Finance Bill, 2020 has now become Finance Act, 2020. CLICK HERE TO DOWNLOA FINANCE ACT, 2020 ...

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Category : Finance | Comments : 0 | Hits : 524

Govt to pay employer, employee’s PF contribution for 3 months
Posted Date : 28-Mar-2020 , 08:27:13 am | Posted By CASANSAAR

The government will pay the employee provident fund (EPF) contribution both of the employer and the employee (12 per cent each) for the next three months, Finance Minister Nirmala Sitharaman said on Wednesday. The move will benefit over 4.8 crore employees in the organised sector. The governme...

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Category : General | Comments : 0 | Hits : 558

RBI permits 3 month moratorium on EMI payments on all outstanding loans
Posted Date : 27-Mar-2020 , 08:49:22 pm | Posted By CASANSAAR

The Reserve Bank of India (RBI) Governor Shaktikanta Das today announced cut in benchmark interest rate, Repo Rate by 75 basis points to 4.4 per cent to deal with the hardship caused due to the outbreak of COVID-19. The central bank also reduced the Cash Reserve Ratio (CRR) of all banks by 100 ba...

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Category : RBI | Comments : 0 | Hits : 243

Postponement of Chartered Accountant Examination, May 2020 - ICAI
Posted Date : 27-Mar-2020 , 12:46:55 pm | Posted By CASANSAAR

In continuation to the Important Announcement dated 1st January 2020, it is hereby notified for general information that in view of the ongoing spurt of the COVID-19 pandemic and in the interest of the wellbeing of students, the Chartered Accountant Examinations initially scheduled from 2nd May 2020...

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Category : Students Zone | Comments : 0 | Hits : 635

RBI cut Repo rate by 75 bps to 4.4%, CRR by 100 bps to 3%
Posted Date : 27-Mar-2020 , 11:07:05 am | Posted By CASANSAAR

Reserve Bank of India (RBI) governor Shaktikanta Das March 27 announced a massive 75 basis points cut in repo rates as a measure to counter the economic slowdown caused by the COVID-19 pandemic. Repo rate cut by 75 bps to 4.4%, CRR by 100 bps to 3%, banks allowed 3-month moratorium on all loans: ...

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Category : RBI | Comments : 0 | Hits : 336

Impact of Corona Virus on Financial Reporting and the Auditors Consideration
Posted Date : 27-Mar-2020 , 10:45:01 am | Posted By CASANSAAR

ASB & AASB of ICAI have released *Impact of Corona Virus on Financial Reporting and the Auditors Consideration*   The advisory has been prepared for: 1. Entities to whom Ind AS is applicable and 2. Entities to whom AS is applicable, viz, a. Companies to whom Companies, Ac...

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Category : Income Tax | Comments : 0 | Hits : 1122

SEBI allows top 100 companies to delay AGMs
Posted Date : 27-Mar-2020 , 10:33:02 am | Posted By CASANSAAR

The Securities and Exchange Board of India (Sebi) on Thursday further relaxed compliance norms for companies and said top 100 companies by market capitalisation can hold their annual general meetings (AGMs) a month later than the usual stipulated August 31. The relaxation comes in the wake of the...

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Category : SEBI | Comments : 0 | Hits : 258

Finance Minister announces Rs 1.70 Lakh Cr relief package
Posted Date : 27-Mar-2020 , 10:24:59 am | Posted By CASANSAAR

Insurance cover of Rs 50 Lakh per health worker fighting COVID-19 to be provided under Insurance Scheme 80 crore poor people will to get 5 kg wheat or rice and 1 kg of preferred pulses for free every month for the next three months 20 crore women Jan Dhan account holders to get Rs 500 per mon...

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Category : Finance | Comments : 0 | Hits : 119

Benami Law and its interplay with other Laws
Posted Date : 26-Mar-2020 , 11:06:47 am | Posted By CASANSAAR

Benami Law and its interplay with other Laws explained by CA (Adv) Ashwani Taneja, Ex Member - ITAT.. Watch this Video, https://youtu.be/bercqZVBj-w ...

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Category : Income Tax | Comments : 0 | Hits : 83

FinMin writes to RBI for relaxing NPA norms for farm loan
Posted Date : 26-Mar-2020 , 11:05:36 am | Posted By CASANSAAR

The Finance Ministry has asked the Reserve Bank of India (RBI) to relax asset classification norms for farm loans extended by banks following the stress faced by the agriculture sector. In a letter addressed to RBI Governor Shaktikanta Das, the Ministry said, “it is requested to consider ma...

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Category : NPA | Comments : 0 | Hits : 351

PM announces WhatsApp helpdesk number for providing Coronavirus information
Posted Date : 25-Mar-2020 , 10:16:40 pm | Posted By CASANSAAR

The PM announced that the Centre has tied up with WhatsApp to create a helpdesk for providing credible information on coronavirus. The number is 9013151515. Prime Minister Narendra Modi on March 25 said he was very pained by the misbehaviour of some people against doctors, airlines crew and staff...

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Category : General | Comments : 0 | Hits : 544

Happy Vikaram Samavat, Gudi Padwa and Shubh Navratri.
Posted Date : 25-Mar-2020 , 10:29:56 am | Posted By CASANSAAR

May This Navratri be as bright as ever. May this Navratri bring joy, health and wealth to you. May the festival of lights brighten up you and your near and dear ones lives. Happy Vikaram Samavat, Gudi Padwa and Shubh Navratri. JAI MATA DI... Stat Home, Stay Safe, Stay Updated. (We Ca...

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Category : General | Comments : 0 | Hits : 279

FM announces several relief measures relating to Statutory and Regulatory compliance matters across sectors
Posted Date : 24-Mar-2020 , 10:19:20 pm | Posted By CASANSAAR

The Union Finance & Corporate Affairs Minister Smt. Niramla Sitharaman today announced several important relief measures taken by the Government of India in view of COVID-19 outbreak, especially on statutory and regulatory compliance matters related to several sectors. While addressing the press...

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Category : Finance | Comments : 0 | Hits : 496

PM Modi announces a complete lockdown across country for next 21 days
Posted Date : 24-Mar-2020 , 10:15:24 pm | Posted By CASANSAAR

Prime Minister Narendra Modi has announced that the entire country will go in complete lockdown from midnight tonight. In his address to the nation this evening, Prime Minister said that this lockdown is in a way of curfew and would be more stringent than Janta curfew. He said in view of the curr...

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Category : General | Comments : 0 | Hits : 317

Relaxations by Finance Minister under Various Laws
Posted Date : 24-Mar-2020 , 04:16:37 pm | Posted By CASANSAAR

Income Tax :- F.Y. 18-19 1. Last date for filing income tax returns for the A.Y. 19-20 will be now 30/06/2020. 2. Interest for delayed payment reduced to 9% only for F.Y.18-19 3. Vivad se Vishwas Scheme has also extended to 30/06/2020 and no 10% additional Charge for now. 4. No extension...

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Category : Income Tax | Comments : 0 | Hits : 1068

Covid-19 related spends to be treated as CSR activity - MCA
Posted Date : 24-Mar-2020 , 11:14:51 am | Posted By CASANSAAR

With the number of Covid-19 cases increasing in the country, the Centre has now roped in the private sector to help in the efforts to minimise the spread of Coronavirus. The Corporate Affairs Ministry (MCA) on Monday said that spending of CSR funds for Covid-19 would be treated as eligible CSR ac...

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Category : Income Tax | Comments : 0 | Hits : 552

Companies under IBC will need New GST Registration
Posted Date : 24-Mar-2020 , 11:09:09 am | Posted By CASANSAAR

Companies under Insolvency and Bankruptcy process must avail a fresh GST registration within 30 days of a resolution professional being appointed for them.  If the resolution professionals have already been appointed, GST registration will have to be availed within a month, the government ha...

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Category : GST | Comments : 0 | Hits : 619

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