"30 April 2020" Archive - Page 4

Discussion Paper Business Combinations—Disclosures, Goodwill & Impairment

Discussion Paper Business Combinations—Disclosures, Goodwill and Impairment issued by the IASB for comments The implementation of high quality Indian Accounting Standards (Ind ASs) by Indian Companies is a monumental step in the accounting history of India. The Institute of Chartered Accountants of India (ICAI) believes that Ind AS Fr...

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Posted Under: CA, CS, CMA |

Covid-19: List of Zone Wise Classification in Red, Orange & Green

Notification No. D.O.No.Z.28015/19/2020-EMR 30/04/2020

The districts were earlier designated as hotspots / red-zones, orange zones and green zones primarily based on the cumulative cases reported and the doubling rate. Since recovery rates have gone up, the districts are now being designated across various zones duly broad-basing the criteria....

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ICSI Postpones CS Examinations, June-2020 session

ICSI vide a press release postponed CS Examinations, June-2020 session, which were suppose to commence on from 1st June,2020.  CS examinations of the June-2020 session will now commence from 6th July, 2020. The Revised schedule will be announced later by ICSI. Full Text of the Press Release by ICSI is as follows:- THE INSTITUTE OF [&hell...

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Posted Under: CA, CS, CMA |

Whether Approval of Resolution Plan extinguishes Guarantor’s Liability & His Subrogation Right?

In this article we will be discussing aforesaid Moot Question, and consciously examine the impact of approval of the Resolution Plan on guarantor’s subrogation right i.e. right of indemnification from principal debtor as well....

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Posted Under: CA, CS, CMA |

Recent reliefs in Bank Branch Audit due to COVID-19

1. What reliefs are being provided by Reserve Bank of India (RBI) for easing out bank branch audit during these times of coronavirus? The Reserve Bank of India has brought 3 major circulars in form of COVID-19 regulatory package. i) COVID 19 Regulatory package- (RBI circular dated 27.03.2020)- This circular relates to relaxation in repaym...

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Posted Under: CA, CS, CMA |

Maharashtra PT: Waiver from Late Return Filing Fees

Trade Circular No. 6T of 2020 30/04/2020

Maharashtra Profession Tax -Whole of the late fee payable by the registered employer in respect of monthly or annual returns pertaining to any periods up to March 2020 and monthly period of April 2020, is exempted...

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NSE extends annual listing fees payment due date

Circular Ref. No: 09/2020 30/04/2020

NSE has decided to extend the due date of payment for the Annual Listing Fees for FY 2020-21 from 30th April 2020 to 30th June 2020....

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Sunset Review Investigation of imports of Sodium Citrate from China

Case No. (SSR) 09/2019 30/04/2020

The scope of the present review covers all aspects of the final findings No. 14/23/2013-DGAD dated 26th February, 2015 concerning imports of Sodium Citrate, originating in or exported from the People's Republic of China....

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Last date of filing of Form NFRA-2 extended to 210 days from deployment date

General Circular No. 19/2020 30/04/2020

It has been decided that the time limit for filing of Form NFRA-2, for the reporting period Financial Year 2018-19, will be 210 days from the date of deployment of this form on the website of National Financial Reporting Authority (NFRA)....

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SC upheld constitutional validity of Section 43B(f) of Income Tax Act, 1961

Union of India & Ors. Vs Exide Industries Limited & Anr. (Supreme Court)

Union of India & Ors. Vs Exide Industries Limited & Anr. (Supreme Court) Before the judgment in Bharat Earth Movers (supra), various tribunals and High Courts across the country were treating the liability in lieu of leave encashment as a contingent liability. This did not go down well with the assessees following the mercantile a...

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