"31 March 2020" Archive - Page 4

Declaration format for Appointment of MD/CEO/CEO/PTC in Banks

RBI/2019-20/204 DoR.Appt.No.58/29.67.001/2019-20 31/03/2020

Appointment of Managing Director and Chief Executive Officer (MD & CEO) / CEO / part-time Chairperson (PTC) in Banks – ‘Declaration and Undertaking’ and allied matters...

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Doorstep Banking Services for Senior Citizens & Differently Abled Persons

RBI/2019-20/203 DOR.CO.Leg.BC.No.59/09.07.005/2019-20 31/03/2020

Banks were advised to make concerted efforts to offer certain basic banking services to senior citizens of more than 70 years of age and differently abled persons at the doorstep of such customers. Although banks were advised to implement the instructions by December 31, 2017, it has been observed that such services are yet to be offered ...

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Short Term Crop Loans eligible for Interest Subvention Scheme (ISS) and Prompt Repayment Incentive (PRI) through KCC

RBI/2019-20/202 FIDD.CO.FSD.BC.No.23/05.02.001/2019-20 31/03/2020

Banks may convert the existing Short Term Crop Loans including agriculture gold loans into KCC loans by June 30, 2020 with commensurate extension of Interest Subvention (IS) and Prompt Repayment Incentive (PRI) benefit against such accounts till June 30, 2020....

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Certificates for lower rate/nil deduction/collection of TDS or TCS- Reg.

F. No. 275/25/2020-IT(B) 31/03/2020

CBDT Order on issue of certificates for lower rate/nil deduction/collection of TDS or TCS uls 195, 197 and 206C (9) when Assesee was given such certificate for Financial year 2019-20 and when Assessee is Applying or Applied for first time for such certificate...

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Companies Fresh Start Scheme 2020- Salient features

To allow the defaulting companies and to enable them to file the belated documents, the Central Government in the exercise of powers conferred under section 460 read with section 403 of the Companies Act, 2013 has decided to introduce a scheme namely 'COMPANIES FRESH START SCHEME- 2020 (CFSS-2020)'condoning the delay in filing the documen...

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Posted Under: Fema / RBI |

Summary of Modified LLP Settlement Scheme, 2020

♦ Overview Ministry of Corporate Affairs (MCA) has vide General Circular No. 13/2020  dated 30th March, 2020,  modified the provisions related to LLP SETTLEMENT SCHEME, 2020. ♦ Revised Timeline : Applicable w.e.f. 01.04.2020 And shall remain into Force upto 30.09.2020. ♦ Previous Scheme: LLP SETTLEMENT SCHEME , 2020 vide General C...

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Posted Under: Fema / RBI |

All about Eligibility for MSME (Udyog Aadhaar) Registration

Eligibility for MSME (Udyog Aadhaar) Registration  The following enterprises are eligible to obtain MSME registration: 1. Manufacturing Enterprises – The enterprises : Engaged in the manufacture or production of goods pertaining to any industry specified in the first schedule to the industries (Development and regulation) Act, 1951...

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Posted Under: Fema / RBI |

Modification made in LLP Settlement Scheme, 2020

In pursuance of the Government of India’s efforts to provide relief to law abiding companies and in the wake of COVID 19, the Ministry of Corporate Affairs, has introduced the ‘Revised LLP Settlement Scheme, 2020‘which is already in vogue a first of its kind opportunity to LLPs to make good any filing related defaults, irres...

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Posted Under: Fema / RBI |

Advisory on Tracking GST Refund Application Status

GSTN Issued Advisory on Tracking GST Refund Application Status on the GST Portal and PFMS portal Initially, the functionality to track the status of GST refund application has been available on the GST common portal at www.gst.gov.in only. Now, the Public Financial Management System (PFMS) of the Controller General of Accounts (CGA) has a...

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Posted Under: Fema / RBI |

Companies Fresh Start Scheme, 2020- Validity, Effect & Applicability

Companies Fresh Start Scheme, 2020 and modified LLP Settlement Scheme incentivize compliance and reduce compliance burden during the unprecedented public health situation caused by COVID-19. The USP of both the schemes is a one-time waiver of additional filing fees for delayed filings by the companies or LLPs with the Registrar of Compani...

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Posted Under: Fema / RBI |

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