Income tax department launches tool to calculate TDS rate on cash withdrawals under new tax rules
Posted Date : 05-Jul-2020 , 10:57:00 am | Posted By CASANSAAR
The income tax department has made the calculation of TDS (tax deducted at source) on cash withdrawals easier for banks and other financial institutions. A tool to calculate the TDS rate under Section 194N has been enabled in the income tax department's e-filing portal.
However, this tool has...
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Income Tax |
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Public, Private Sectors banks sanctioned loans worth over Rs 1.10 lakh cr under Emergency Credit Line Guarantee Scheme
Posted Date : 05-Jul-2020 , 10:43:36 am | Posted By CASANSAAR
Public and Private Sectors banks have sanctioned loans worth over one lakh ten thousand crore rupees so far under Emergency Credit Line Guarantee Scheme.
Out of which, more than 52 thousand 200 crore rupees have already been disbursed. The scheme was launched by the government to provide relief t...
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Category :
MSME |
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0 | Hits : 1124
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PM launches Aatmanirbhar Bharat Innovation Challenge to identify the best Indian Apps
Posted Date : 05-Jul-2020 , 10:41:09 am | Posted By CASANSAAR
The Prime Minister Narendra Modi has launched Aatmanirbhar Bharat Innovation Challenge to identify the best Indian Apps that are already being used by citizens and have the potential to scale and become world class Apps in their respective categories.
Prime Minister Narendra Modi has urged ...
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General |
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Income Tax dept refunds Rs 62,361 Cr during lockdown - CBDT
Posted Date : 04-Jul-2020 , 09:49:50 am | Posted By CASANSAAR
Income tax department has issued Rs 62,361 crore of pending refunds to 20.44 lakh taxpayers between April 8 and June 30, the Central Board of Direct Taxes (CBDT) said Friday.
"In order to help taxpayers in a Covid-19 pandemic situations, the department has issued tax refunds at a speed of 76...
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Income Tax |
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ICAI cancels May 2020 Exams & merged with November 2020
Posted Date : 04-Jul-2020 , 09:30:51 am | Posted By CASANSAAR
IMPORTANT ANNOUNCEMENT
1. The students are aware that vide Announcement dated 15th June 2020, the Institute, after taking in account the academic interests and health safeguards of students intending to appear in May 2020 Examinations, had enabled them to change their centre for appearanc...
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CA Exams |
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RBI asks banks to reclassify MSMEs as per revised criteria
Posted Date : 03-Jul-2020 , 10:37:05 am | Posted By CASANSAAR
The RBI has asked banks, financial institutions and NBFCs to reclassify micro, small and medium enterprises on the basis of the new criteria.
Last month, the government notified new criteria for classification of micro, small and medium enterprises (MSMEs) on the basis of turnover and investment ...
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IFRS |
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IBBI proposes to limit number of assignments handled by IPs
Posted Date : 03-Jul-2020 , 10:30:24 am | Posted By CASANSAAR
The Insolvency and Bankruptcy Board of India (IBBI) has proposed to limit the number of corporate insolvency cases a single insolvency professional (IP) is permitted to handle at any given time.
Currently, there is no limit on the number of assignments an IP is permitted to take; however the code...
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Insolvent Professional |
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0 | Hits : 1783
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World Bank approves $750 million to support credit finance for Indian MSMEs
Posted Date : 02-Jul-2020 , 10:44:50 am | Posted By CASANSAAR
The World Bank has approved $750 million to support increased flow of finance into the hands of micro, small, and medium enterprises (MSMEs) in India, severely impacted by the covid-19 crisis. The package will support the MSME package announced by the government under its self-reliant India programm...
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MSME |
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0 | Hits : 1691
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SEBI issues SoP to deal with possible defaults by trading, clearing members
Posted Date : 02-Jul-2020 , 10:39:21 am | Posted By CASANSAAR
Sebi on Wednesday came out with a set of standard operating procedures for stock exchanges, clearing corporations and depositories to deal with possible defaults by trading or clearing members.
The framework, which will come into force from August 1, is aimed at protecting the interest of non-def...
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SEBI |
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GST collections in June at Rs 90,917 Cr
Posted Date : 02-Jul-2020 , 10:14:37 am | Posted By CASANSAAR
GST revenue collection in June stood at Rs 90,917 crore, up from Rs 62,009 crore mopped up in May and Rs 32,294 crore in April.
"The gross GST revenue collected in the month of June, 2020 is Rs 90,917 crore of which CGST is Rs 18,980 crore, SGST is Rs 23,970 crore, IGST is Rs 40,302 crore (i...
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GST |
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0 | Hits : 718
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RBI announces fresh OMO for sale, purchase of govt securities for Rs 10,000 Cr each
Posted Date : 30-Jun-2020 , 10:11:04 am | Posted By CASANSAAR
The Reserve Bank of India on Monday announced another ‘operation twist’, also known as open market operations (OMO), under which it conducts simultaneous sale and purchase of bonds.
“On a review of current and evolving liquidity and market conditions, the RBI h...
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RBI |
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0 | Hits : 1107
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SEBI again relaxes compliance requirement for portfolio managers
Posted Date : 30-Jun-2020 , 10:04:29 am | Posted By CASANSAAR
Markets watchdog Sebi on Monday eased compliance requirement for portfolio managers amid prevailing business conditions amid coronavirus pandemic.
The decision was taken after receiving requests from portfolio managers and considering the prevailing business and market conditions due to the pande...
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SEBI |
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CBDT notifies certain exemptions to employees opting for lower Income Tax regime
Posted Date : 29-Jun-2020 , 09:56:34 am | Posted By CASANSAAR
The government has allowed individuals under new lower tax regime to claim I-T exemption on conveyance allowance received from employers.
The Central Board of Direct Taxes (CBDT) has now amended Income Tax rules to prescribe certain exemptions which can be availed by the employees.
These inclu...
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Category :
Income Tax |
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0 | Hits : 2323
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CBIC extends validity of e-way bills in new set of relaxations
Posted Date : 29-Jun-2020 , 09:21:59 am | Posted By CASANSAAR
The Central Board of Indirect Taxes and Customs (CBIC) extended the end-date till August 31 for several relaxations including issuance of order and appeals by tax authorities, including in case of refunds, and extended the validity of e-way bills issued before lockdown till September 30.
In notif...
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GST |
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RBI extends enhanced borrowing limit under MSF till Sep 30
Posted Date : 28-Jun-2020 , 09:44:25 am | Posted By CASANSAAR
The RBI has also extended the relaxation on the minimum daily maintenance of the CRR at 80 per cent till September 25, 2020.
Amid ongoing economic woes created by the coronavirus pandemic, the Reserve Bank has decided to extend the enhanced borrowing facility provided to banks to meet their liqui...
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RBI |
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SBI sanctions loans to over 4 lakh MSMEs under credit guarantee scheme
Posted Date : 28-Jun-2020 , 09:33:54 am | Posted By CASANSAAR
State Bank of India (SBI) has sanctioned loans to over 4 lakh accounts under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for MSME sector, hit hard by the coronavirus-induced lockdown.
On the occasion of International MSME Day, SBI managing director C S Shetty on Friday addr...
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Category :
MSME |
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SEBI initiates process to recruit executive directors
Posted Date : 27-Jun-2020 , 10:03:18 am | Posted By CASANSAAR
Capital markets watchdog Sebi has begun the process for recruiting two executive directors for faster and more effective execution of regulatory work.
The appointment of executive directors will be either on contractual or deputation basis for a period of three years, the regulator said in a publ...
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SEBI |
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MSMEs launches another funding scheme to help the distressed MSME sector
Posted Date : 26-Jun-2020 , 09:43:38 am | Posted By CASANSAAR
Minister of MSME, Shri Nitin Gadkari today launched the Credit Guarantee Scheme for Sub-ordinate Debt (CGSSD) which is also called “Distressed Assets Fund–Sub-ordinate Debt for MSMEs”.
As per the Scheme, the guarantee cover worth Rs. 20,000 crores will be provided to the promote...
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Category :
MSME |
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Ministry of Corporate Affairs widens ambit of CSR activities
Posted Date : 26-Jun-2020 , 09:01:57 am | Posted By CASANSAAR
The ministry of corporate affairs (MCA) has included contributions towards the Central Armed Police Forces (CAPF) and Central Para Military Forces (CPMF) veterans and their dependents including widows, within the definition of corporate social responsibility (CSR).
The notification, on Wednesday,...
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Category :
Corporate Law |
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0 | Hits : 854
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SEBI relaxes pricing norms for preferential issues of listed companies
Posted Date : 26-Jun-2020 , 08:54:38 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) on Thursday relaxed the pricing norms for preferential issuances to ease the capital-raising process for listed companies.
The new pricing formula will enable the issuance of new shares at recent stock prices. A lot of market participants had appr...
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SEBI |
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0 | Hits : 719
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PIL filed in SC seeking a stay on opt-out scheme of ICAI for CA July exams
Posted Date : 25-Jun-2020 , 09:03:10 am | Posted By CASANSAAR
Public interest litigation, PIL has been filed in SC seeking cancellation of the opt-out scheme introduced by ICAI for CA July exam 2020- The petition also seeks some extra centres or the appearing candidates.
Institute of Chartered Accountants of India, ICAI had given its candidates the op...
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Category :
CA Firms |
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Further extension of various time limits under Direct Tax & Benami laws
Posted Date : 24-Jun-2020 , 09:42:49 pm | Posted By CASANSAAR
In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliance requirements across sectors due to the outbreak of Novel Corona Virus (COVID-19), the Government brought the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 [the Ordinance] on 3...
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Category :
Income Tax |
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1 | Hits : 2265
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RBI Committee Recommends Hike in ATM Charges; Limit Cash Withdrawals to Rs 5,000 per Transaction
Posted Date : 24-Jun-2020 , 09:43:18 am | Posted By CASANSAAR
A committee appointed by the Reserve Bank of India (RBI), headed by chief executive of Indian Banks’ Association (IBA) and consisting of representatives from all stakeholders, except bank customers, has recommended an increase in interchange charges for all transactions carried out on automate...
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RBI |
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SEBI makes raising funds easier for stressed companies
Posted Date : 24-Jun-2020 , 09:31:03 am | Posted By CASANSAAR
SEBI further relaxed the preferential allotment rules for faster fund raising by stressed companies in the current crisis time.
SEBI also decided to grant exemption for allottees of preferential issues from open offer obligations in such cases, with immediate effect.
The regulator in its relea...
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SEBI |
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0 | Hits : 931
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RBI asks banks, NBFCs to increase awareness campaigns against frauds
Posted Date : 23-Jun-2020 , 09:50:37 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Monday told banks, non-banks and payments service providers to undertake targeted multi-lingual campaigns by way of SMSs, advertisements in print and visual media, etc, to educate their users on safe and secure use of digital payments.
In a circular, the Reserve...
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RBI |
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0 | Hits : 1094
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CBIC launches paperless customs export processing
Posted Date : 23-Jun-2020 , 09:47:07 am | Posted By CASANSAAR
The Central Board of Indirect Taxes and Customs (CBIC) on Monday launched paperless customs export processing, a move aimed at trade facilitation. "Chairman CBIC Sh. M Ajit Kumar and Members of the Board launched Paperless Customs Export processing under Turant Customs today through video confe...
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Custom |
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Domain + Website + Hosting + 2 email ids @ Just Rs.3100/- with 30 days Money Back Guarantee
Posted Date : 22-Jun-2020 , 10:31:27 am | Posted By CASANSAAR
CASANSAAR offers a Golden opportunity for Professionals, where they could create their own stunning website with multiple designs and templates to choose. It will be completely your own space, which is going to be a Dynamic Website and could be edited as per your wish.
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General |
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0 | Hits : 1452
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Developed land sold as plots will attract GST - AAR
Posted Date : 22-Jun-2020 , 10:14:15 am | Posted By CASANSAAR
GST will be levied on sale of land for which primary amenities – such as drainage, waterline and electricity – have been provided by real estate developer, the Authority for Advance Ruling (AAR) has said.
The AAR has also concluded that sale of developed plots will be covered under th...
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Category :
GST |
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0 | Hits : 1635
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SC stays Delhi HC order on transitional GST credit on Centre's SLP
Posted Date : 20-Jun-2020 , 10:40:03 am | Posted By CASANSAAR
The Supreme Court has stayed the Delhi high court order that had allowed availing tax credits for pre-GST period up to June 30 this year.
The apex court was hearing a special leave petition filed by the Union Government against the Delhi High Court judgement.
The case relates to the rule 117 o...
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Category :
GST |
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0 | Hits : 1841
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Govt plans to decriminalise compoundable offences under LLP Act
Posted Date : 20-Jun-2020 , 10:10:36 am | Posted By CASANSAAR
The ministry of corporate affairs (MCA) has proposed to decriminalise certain compoundable offences under the Limited Liability Partnership (LLP) Act, involving minor, procedural or technical violations “In order to provide greater ease of doing business in India to law abiding LLPs” it ...
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Category :
Corporate Law |
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0 | Hits : 892
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