"25 August 2021" Archive

2 more arrested by DGGI Gurugram Unit for input tax credit fraud

DGGI Gurugram Zonal Unit (GZU), Haryana, has earlier busted a case wherein total fake ITC of  Rs 176 crore has been fraudulently passed on by Sh. Sanjay Goel, Prop of M/s. Redamancy World, and Sh. Deepak Sharma, the de–facto controller of 8 non-existent firms....

Read More

Foreign Account Tax Compliance Act (FATCA)

The seeds of financial crisis were sown long back when the interest rates were fiercely low with very lenient lending norms leading to creation of housing price bubble in U.S. The bubble bursted and the period of 2007-2009 marked as an epic financial collapse leaving people jobless and their investments worthless. With the unemployment ra...

Read More

348 companies fail to meet criteria for declaration as Nidhi company

Government cautions stakeholders as 348 companies fail to meet requisite criteria for declaration as Nidhi company under Companies Act 2013 and Nidhi Rules 2014 Under section 406 of the Companies Act, 2013 (CA, 2013) and Nidhi Rules, 2014 (as amended), companies incorporated as Nidhi Companies need to apply to the Central Government in fo...

Read More

ITC not available on Canteen Services provided to Employees

Tata Motors Ltd has sought a clarification whether ITC will be available on GST charged by service provider on canteen facility provided to employees working in factory and whether the same would be restricted to extent of cost borne by the Applicant. Along with that it has also been sought if GST is to be applicable on Nominal amount rec...

Read More

SEBI issues Circular on Security & Covenant Monitoring using Distributed Ledger Technology

Press Releases No. 26/2021-SEBI 25/08/2021

A system using block chain technology for non-convertible securities along with the underlying assets would be created and all charges and asset valuation transactions shall be recorded by the respective entities including Issuers, Debenture Trustees, Credit Rating Agencies, etc. The system will give permissions to the Debenture Trustees,...

Read More

MCA issues updated FAQs on Corporate Social Responsibility (CSR)

General Circular No. 14/2021 25/08/2021

MCA has vide General Circular No. 14/2021 dated 25.08.2021 issued updated FAQs on Corporate Social Responsibility (CSR) and withdrawn 4 earlier FAQs and clarifications issued by it from time to time. The FAQs on CSR broadly covers  Applicability of CSR, CSR Framework, CSR Expenditure, CSR Activities, CSR Implementation, On-going Project,...

Read More

CBI Files Chargesheet against 18 Accused Including CA, Businessman & Bank Manager

CBI Files Chargesheet Against 18 Accused Including Chartered Accountant, Businessman; Then AGM & Then Manager of Syndicate Bank For Causing An Alleged Loss Of Rs. 209 Crore (Approx) To Bank...

Read More

Overseas entity not include branches of Indian banks/financial institutions operating in IFSC

F. No. 191/IFSCA/EC-NDF-INR/2020-21/1 25/08/2021

RBI clarified that definition of term overseas entity in abovementioned section shall not include branches of Indian banks and branches of other Indian financial institutions operating in IFSC....

Read More

Bank Employees Family Pension to be increased to 30% of last pay drawn

In a bid to provide relief to families of bank employees, the Government has approved the Indian Banks' Association’s proposal to increase the family pension to 30% of last salary drawn.  This move would make family pension go up to as much as Rs 30,000 to Rs 35,000 per family of bank employees. ...

Read More

FM unveils 4th edition of Public Sector Bank Reforms Agenda – EASE 4.0

Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman today unveiled the fourth edition of the Public Sector Bank (PSB) Reforms Agenda ‘EASE 4.0’ for 2021-22 - tech-enabled, simplified, and collaborative banking. She unveiled the annual report for the PSB Reforms Agenda EASE 3.0 for 2020-21 and participated in the aw...

Read More

Search Posts by Date

October 2021
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031