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Archive: 08 June 2022

Posts in 08 June 2022

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6999 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

RBI Increases policy repo rate by 50 basis points (Notifications)

June 8, 2022 699 Views 0 comment Print

As announced in the Monetary Policy Statement 2022-23 dated June 08, 2022, the Bank Rate is revised upwards by 50 basis points from 4.65 per cent to 5.15 per cent with immediate effect.

RBI increases policy repo rate by 50 basis points to 4.90 per cent

June 8, 2022 525 Views 0 comment Print

Reserve Bank of India Governor’s Statement In my statement of May 4, 2022, I had mentioned that as we navigate through this difficult period, it is necessary to be sensitive to the new realities and incorporate them into our thinking. The war in Europe is lingering and we are facing newer challenges each passing day which […]

CBIC extends ADD on pneumatic tyres of specific specifications

June 8, 2022 624 Views 0 comment Print

Seeks to amend notification no. 45/2017-Customs (ADD) dated 18th September, 2017 to extend the ADD on pneumatic tyres of specific specifications from China PR upto 17th December, 2022. MINISTRY OF FINANCE (Department of Revenue) New Delhi, the 8th June, 2022 Notification No. 21/2022-Customs (ADD) G.S.R. 430(E).—Whereas, the designated authority, vide, initiation notification F. No. 7/02/2022-DGTR, […]

RBI Guidelines for Doorstep Banking by UCBs

June 8, 2022 1008 Views 0 comment Print

UCBs which offer services of pick-up of cash may take suitable steps to educate their employees and agents to enable them to detect forged and mutilated notes so as to avoid frauds and disputes with customers.

Enhancement in Individual Housing Loan limits & credit to Commercial Real Estate – Residential Housing (CRE-RH)

June 8, 2022 1725 Views 0 comment Print

Reserve Bank of India RBI/2022-23/67 DOR.CRE.REC.43/09.22.010/2022-23 June 08, 2022 All State Co-operative Banks (StCBs) All District Central Co-operative Banks (DCCBs) Madam / Dear Sir, Enhancement in Individual Housing Loan limits and credit to Commercial Real Estate – Residential Housing (CRE-RH) Please refer to our circulars RPCD CO.RCBD.BC.No.15 /03.03.01/2009-10 dated  August 13, 2009, RPCD.CO.RF.BC.No.109/07.38.01/2008-09 dated May […]

Individual Housing loans – Enhancement in limits

June 8, 2022 588 Views 0 comment Print

RESERVE BANK OF INDIA RBI/2022-23/68 DOR.CRE.REC.42/09.22.010/2022-23 | Dated: June 08, 2022 All Primary (Urban) Co-operative Banks, Madam / Dear Sir, Individual Housing loans – Enhancement in limits Please refer to circular UBD.BPD.(PCB). Cir.No.7/09.22.010/2011-12 dated October 31, 2011 on the above subject. 2. As announced in the Statement on Developmental and Regulatory Policies (para no.1 annexed), […]

IPs to act as IRP, Liquidators, RP & Bankruptcy Trustees (Recommendation) Guidelines, 2022

June 8, 2022 828 Views 0 comment Print

Insolvency and Bankruptcy Board of India Insolvency Professionals to act as Interim Resolution Professionals, Liquidators, Resolution Professionals and Bankruptcy Trustees (Recommendation) Guidelines, 2022 June 08, 2022 Corporate Insolvency The Insolvency and Bankruptcy Board of India (Board) is required under the Insolvency and Bankruptcy Code, 2016 (Code) to recommend name of an Insolvency Professional (IP) for […]

Senior Citizens not having Business Income Exempt from Advance tax

June 8, 2022 142104 Views 26 comments Print

As per section 208 every person whose estimated tax liability for the year exceeds Rs. 10,000, shall pay his tax in advance in the form of advance tax. Thus, any taxpayer whose estimated tax liability for the year exceeds Rs. 10,000 has to pay his tax in advance by the due dates prescribed in this regard.

Advance Tax Provisions, Challan, e-payment Utility & Examples

June 8, 2022 192531 Views 14 comments Print

As per section 208, every person whose estimated tax liability for the year is Rs. 10,000 or more, shall pay his tax in advance, in the form of advance tax. In this part you can gain knowledge on various provisions relating to payment of advance tax by a taxpayer.

Income Tax Offences liable to prosecution

June 8, 2022 57014 Views 4 comments Print

Apart from levy of penalty for various defaults by the taxpayer, the Income-tax Law also contains provisions for launching prosecution for offences committed by the taxpayer. In this part you can gain knowledge about offences in respect of which prosecutions can be launched under the Income-tax Law.

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