CDs may be issued at a discount to the face value. CDs may also be issued on a fixed / floating rate basis provided the interest rate on the floating rate CD is reset at periodic rests agreed to at the time of issue and is linked to a benchmark published by a Financial Benchmark Administrator or approved by the Fixed Income Money Market and Derivatives Association of India (FIMMDA) for this purpose. FIMMDA shall ensure that any floating rate approved by them for this purpose is determined transparently, objectively and in arm’s length transactions.
INCOME TAX APPELLATE TRIBUNAL Date : 4th June, 2021 NOTICE Subject : Launching of e-Filing Portal of Income Tax Appellate Tribunal. Whilst the outbreak of COVID-19 Pandemic has posed significant challenges all over the world causing mass disruptions in all sectors, including the justice delivery systems, the Income Tax Appellate Tribunal has responded to such […]
Reserve Bank hereby extends the said period of three months for the furnishing of the returns under Section 31 of the Act for the financial year ended on March 31, 2021, by a further period of three months. Accordingly, all UCBs, State Co-operative Banks and Central Co-operative Banks shall ensure submission of the aforesaid returns to Reserve Bank on or before September 30, 2021. The State Co-operative Banks and Central Co-operative Banks shall also ensure submission of the aforesaid returns to NABARD on or before September 30, 2021.
RBI allow banks in India having an Authorised Dealer Category-1 licence under FEMA, 1999 to lend to Foreign Portfolio Investors (FPIs) in accordance with their credit risk management frameworks for the purpose of placing margins with CCIL in respect of settlement of transactions involving Government Securities (including Treasury Bills and State Development Loans) by the FPIs.
For level 3, 4 and 5 wherever it is mentioned that an establishment shall be open till 4 PM it is expected that persons working thereat or taking a service from that shill] reach their homes try 5 PM and there shall be movements for reasons of either working in these or taking service from these establishments pose 5 PM.
Eligibility conditions for MSME accounts to be considered for restructuring under the framework, which inter alia include sub-clause (iii) which states that the aggregate exposure, including non-fund based facilities, of all lending institutions to the MSME borrower should not exceed > 25 crore as on March 31, 2021.
Small businesses, including those engaged in retail and wholesale trade, other than those classified as MSME as on March 31, 2021, and to whom the lending institutions have aggregate exposure of not more than ₹50 crore as on March 31, 2021.
The State Government vide its Order dated 4th June 2021 has notified levels of restriction to be imposed in various administrative units in different districts of the State, as per the COVID 19 positivity rate and the Oxygen Beds Occupancy in these administrative units.
Modi Industries Limited vs CIT (Supreme Court) Having regard to the scheme of the Act and use of the phrase `regular assessment’ in various sections of the Act – we are of the view that in Section 214, `regular assessment’ has been used in no other sense than the first order of assessment passed under […]
In re Ashiana Housing Ltd. (GST AAAR Haryana) In the Appellant’s case however the under relevant law viz. the HDRUA (Haryana Development and Regulation of Urban Areas) Act 1975, the External Development and Infrastructure Development charges are meant to meet, respectively, the cost of external development work to be carried out in respect of an […]
