Funded Interest Term Loan (FITL) is a talk of the Bank Audit season of 2021. The treatment of this advance is not only new but confusing also. There are no clear instructions to deal such accounts which are outstanding as at 31st March 2021. There are also issues related to serving of Interest till 31st […]
The housing loan is the “Priority Sector Lending”. The Reserve Bank of India, through its Master Direction on the subject of housing loan have advised the bankers adhere to the National Building Code (NBC) formulated by the Bureau of Indian Standards (BIS) in view of the importance of safety of buildings especially against natural disasters. […]
by the Banking Institutions. The lending to agriculture sector include Farm Credit (Agriculture and Allied Activities), lending for Agriculture Infrastructure and Ancillary Activities. Farm Credit – Individual farmers Loans to individual farmers and Proprietorship firms of farmers, directly engaged in Agriculture and Allied Activities, viz. dairy, fishery, animal husbandry, poultry, bee-keeping and sericulture includes the […]
As per guidelines issued by MCA, From 1st April 2021, CSR Funding will be released only to that NGOs, Trusts, Religious Trusts, Societies, 12AA registered entities, 80 G granted entities, Section 8 Company that are registered with MCA by filing Form CSR-1.So, if such institutions willing to receive CSR Funding then it is mandatory for […]
The Finance Act 2020 and 2021 has brought in some dynamic changes in respect of the exempted Trusts, Societies, NGOs, Charitable Trusts, Section 8 Companies including educational, medical and/or religious institutions complying with the certain rules of registration under the Income Tax Act, 1961 (the Act). The registrations were perpetuity in nature, and their registrations […]
There are various CBS developed by various software companies created to serve the banking Industry.. The same are available in the market however, out of the all, highly acclaimed and widely used Core Banking Softwares are a) FINACLE by Infosys, b) BaNCS by Tata Consulting Services and c) FlexCube by Oracle Financial Services FlexCube provides […]
For a banking sector, composite system / software which handles transactions, customer relations, regulatory compliances, MIS/ reports request is the need of the hour. Core Banking Systems (CBS) provide the solution for the same. There are number of Core Banking Software’s available in the market. More prominent and used in India are FINACLE, FLEXCUBE and […]
The banking sector in India has developed tremendously after it adopted the Core Banking Solution (CBS). Finacle is also one of such CBS software’s developed by Infosys. A number of Nationalised Banks are using Finacle as their CBS platform. Our Alma mater plays an important role in the process of auditing of PSU banks. The exercise […]
The Income-tax e-filing portal has completed its integration with the Institute of Chartered Accountants of India (ICAI) portal for validation of the Unique Document Identification Number (UDIN) generated from ICAI portal by the Chartered Accountants for documents certified/attested by them and factored mandatory quoting of UDIN with effect from 27th April 2020 for documents certified/attested […]
REQUEST TO PASS DIRECTIONS u/s 30 C of the Chartered Accountants Act for adopting tough measures for the safe and smooth conduct of the CA Examinations going to be held from 21st November. Urgent attention is requested as there are only ten days to implement the suggestions to be made by you.
