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Archive: 11 June 2021

Posts in 11 June 2021

Section 194Q vs Section 206C(1H) – Adding chaos to confusion

June 11, 2021 8202 Views 4 comments Print

Finance Act 2020 had introduced Sec 206C (1H) – which compelled the seller of goods to collect TCS on sale to eligible buyers subject to certain conditions. Amidst a lot of hue and cry the CBDT had finally implemented the same with effect from 1st Oct 2020.

E-form DPT-3-Exempted Deposits

June 11, 2021 25245 Views 1 comment Print

Introduction The companies always plan and carry the financial transactions in many ways and accordingly availed the deposits, loans and advances from directors, Shareholders or various public Financial Instituitons. MCA has introduced the E-form DPT-3 with an intention to report the complete details of Exempted Deposits i.e, Loans or advances taken by the company from […]

IRDAI penalises Surveyor for Acceptance of works in areas for which Surveyor not holds a license

June 11, 2021 5436 Views 0 comment Print

IRDAI has Imposed Penalty of Rs. 8 Lakh on Interocean Insurance Suveyors And Loss Assessors Pvt. Ltd. For Acceptance of survey works in areas for which the Surveyor does not hold a license.  It also cautioned it for Delay in submission of survey reports and issued advisory for Failure to intimate the opening of branches. […]

RBI notifies HFCs to whom Risk Based Internal Audit is applicable

June 11, 2021 645 Views 0 comment Print

On a review, it has been decided that Risk Based Internal Audit (RBIA) shall be applicable to Housing Finance Companies (HFCs) also, as stipulated below: a. All deposit taking HFCs, irrespective of their size b. Non-deposit taking HFCs with asset size of ₹5,000 crore and above

Online PSB Loans Limited allowed to perform Aadhaar authentication

June 11, 2021 1005 Views 0 comment Print

Online PSB Loans Limited is allowed to perform Aadhaar authentication, on voluntary basis, for verification, including Yes or No authentication and e-KYC, of beneficiaries on the National Portal for Credit Linked Government Schemes

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