Government says that it has no plans to set up an Institute of Resolution Professionals to oversee and self-regulate conduct of RPs as IBC Code provides for a two-tier regulatory structure to oversee the conduct of IPs. In the first tier, there are three Insolvency Professional Agencies (IPAs) registered with IBBI, of which IPs are members
CCI imposed penalties of Rs. 425.53 crores on Apollo Tyres Ltd., Rs. 622.09 crores on MRF Ltd., Rs. 252.16 crores on CEAT Ltd., Rs. 309.95 crores on JK Tyre and Industries Ltd., Rs. 178.33 crores on Birla Tyres Ltd. and Rs. 8.41 Lakh on their association i.e. Automotive Tyre Manufacturers Association (ATMA),
Ministry of Corporate Affairs has taken various measures to reduce the compliance burden considering the impact of COVID-19 pandemic:-The Companies Fresh Start Scheme, 2020 was launched to make a fresh start for companies to become fully compliant by allowing them to file belated documents in MCA 21 registry without any additional fees from 1st April to 31st December, 2020.
The financial implementation of deduction of tax under section 194N of the Income-tax Act, 1961 in case of primary cooperative societies depends on the quantum of cash withdrawn in excess of specified amount, availability of Permanent Account Number and whether such societies have filed their returns of income for specified assessment year.
DGCA has a Tariff Monitoring Unit that monitors airfares on certain routes on monthly basis to ensure that the airlines do not charge airfares outside a range declared by them.
The share of Micro, Small and Medium Enterprises (MSMEs) export to Russia and Ukraine during the last three years is as follows: Value in USD Million India’s Export 2018-19 2019-20 2020-21 Value Value Value Selected commodities (MSMEs) to Russia 1432.53 1819.41 1548.27 Total export to Russia 2389.62 3017.75 2655.84 % Share of MSME exports […]
ICSI requested MCA to provide clarification on the queries being shared to enable the professionals to file the e-form. It is also requested to extend the timelines to file Form CSR-2 by the companies for the preceding financial year 2020-2021 from 31st March, 2022 to 30th June, 2022. The Institute of Company Secretaries of India IN […]
CAIT said that for widening the tax base under GST it is most important that ease of doing business should be provided to the business community across the Country.
Gross non-perofrming assets (NPAs) improves from 11.33% in FY2017-18, to 13.52% in FY2018-19, to 14.69% in FY2019-20 As per Reserve Bank of India (RBI) data, recovery made by public sector banks (PSBs) during the financial year as a percentage of gross non-performing assets (NPAs) as on beginning of the financial year (FY) has improved from […]
Various steps have been taken by Reserve Bank of India (RBI) to expand the reach of UPI outside India. This was stated by Union Minister of State for Finance Dr Bhagwat Kisanrao Karad in a written reply to a question in Lok Sabha today.
