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Archive: March, 2019

Posts in March, 2019

Master Direction- ECBs, Trade Credits & Structured Obligations

March 26, 2019 5562 Views 0 comment Print

Instructions issued in respect of External Commercial Borrowings and Trade Credits have been compiled in this Master Direction in supersession of earlier directions contained in Master Direction – External Commercial Borrowings, Trade Credit, Borrowing and Lending in  Foreign Currency by Authorised Dealers and Persons other than Authorised Dealers dated  January 1, 2016, as amended from time to time.

Guidelines for Business Continuity Plan & Disaster Recovery of MIIs

March 26, 2019 1818 Views 0 comment Print

Securities and Exchange Board of India CIRCULAR SEBI/HO/MRD/DMS1/CIR/P/2019/43 March 26, 2019 To, All Stock Exchanges, All Depositories, All Clearing Corporations Dear Sir/ Madam, Guidelines for Business Continuity Plan (BCP) and Disaster Recovery (DR) of Market Infrastructure Institutions (MIIs) 1. SEBI vide circular CIR/MRD/DMS/12/2012 dated April 13, 2012 and CIR/MRD/DMS/17/2012 dated June 22, 2012 prescribed framework […]

Filling up post of Deputy Chairman in Deendayal Port Trust on deputation

March 26, 2019 1116 Views 0 comment Print

It is requested that the above post may kindly be circulated amongst the eligible officers under your charge and applications of eligible and willing officers may be sent through proper channel to the Board latest by 11.04.2019, it may be ensured that the particulars furnished by the applicants are correct and duly authenticated applications in prescribed format may be forwarded through proper channel to the Board.

All Agency Banks to remain open for public on March 31, 2019 (Sunday)

March 26, 2019 2028 Views 1 comment Print

RESERVE BANK OF INDIA RBI/2018-19/150 DBR.No.Leg.BC.30/09.07.005/2018-19 March 26, 2019 All Agency Banks Dear Sir/ Madam All Agency Banks to remain open for public on March 31, 2019 (Sunday) The Government of India has advised that all Pay and Account Offices will remain open on March 31, 2019 (Sunday) to facilitate government receipt and payment transactions. […]

Direct Tax collection are in alarming situation: CBDT Chairman

March 26, 2019 1851 Views 0 comment Print

GOVERNMENT OF INDIA Ministry of Finance/Department of Revenue Central Board of Direct Taxes North Block, New Delhi-110001 Tale Fax : 011-23092791 NEENA KUMAR, IRS MEMBER, CBDT & Special Secretary to the Government of India F.No. D.01380/0212018-1T(B) New Delhi, dated. 26th March. 2019 Dear Pr. Chief Commissioner of Income Tax, Subject: Achieving budget collection target for […]

Appeal cannot be condoned for delayed download of notice served online

March 26, 2019 2679 Views 0 comment Print

When TDS returns/statements had been filed by assessee for each quarter online and orders had been served upon assessee online for payment of the late fees, assessee was not justified in contending that it had not received any communication in respect of late fee imposed under section 234E neither any such communication came to the knowledge prior to the notice of outstanding demand issued by DCIT (TDS).

GST on Real Estate Sector: Proposed Changes wef 01.04.2019

March 26, 2019 30795 Views 2 comments Print

1. Source- Press Release on the recommendation of the 34th Meeting of the GST Council on operational details on the earlier recommendations on real estate sector. 2. GST Rates for Real Estate Sector to be effective from 1st April, 2019 Affordable housing properties: Effective GST rate of 1% withoutITC Residential properties outside affordable segment: Effective […]

Check if Your Deposit is Illegal

March 26, 2019 8883 Views 0 comment Print

President of India has promulgated the BANNING OF UNREGULATED DEPOSIT SCHEMES ORDINANCE, 2019 w.e.f. February 21, 2019. This law has been brought to safeguard the hard-earned money of ignorant depositors from scrupulous deposit takers. Scope: – This ordinance is applicable to every person in respect of following three offences: – 1. Running an unregulated deposit […]

Detailed Analysis of Affordable Housing Deduction under Income Tax

March 26, 2019 15855 Views 4 comments Print

Section 80-IBA Detailed Analysis – Affordable Housing Project 1.  Affordable Housing Meaning Affordable housing refers to housing units that are affordable by that section of society whose income is below the median household income. The basic intention of the Government is to build houses which are affordable to below medium class. The incentives given by […]

Form NFRA-1 And its Applicability

March 26, 2019 90849 Views 3 comments Print

MCA vide Notification dated dated November 13, 2018 notified the National Financial Reporting Authority Rules, 2018 (NFRA Rules, 2018) notified by the Ministry vide Notification dated November 13, 2018, effective from November 13, 2018 to establish an independent regulator to strengthen the audit profession and to provide for matters relating to accounting and auditing standards. […]

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