Advisory issued by ICAI to approximately 35,000 firms eligible for Bank Branch Audit for initiating the process of Statutory Bank Branch audit remotely to ensure timely and effective Bank Branch Audit. The said advisory was also shared with all Central Statutory Auditors for their information. Advisory issued to approximately 35,000 firms eligible for Bank Branch […]
The interbank exposures arising from deposits placed by UCBs with a UCB under AID and their non-performing exposures arising from discounted bills drawn under LCs issued by a UCB under AID shall be fully provided within five years at the rate of 20% annually. Further, the interest receivable on the deposits shall not be recognised as income by the UCBs.
It has been decided by SEBI that the relief measures implemented since March 23, 2020 will continue to be in force till May 28, 2020. The stock exchanges and clearing corporations will be issuing necessary instructions to the market participants in this regard.
Bank Branch Audit of Public Sector Banks for the year 2019-20 In these tough times of the global spread of pandemic COVID-19, challenges are being faced by one and all. Limited physical movement, restricted access to information and constraints of resources have impacted all the economic processes pervasively. In respect of the bank branch audit […]
India’s overall exports (Merchandise and Services combined) in April-March 2019-20* are estimated to be USD 528.45 billion, exhibiting a negative growth of (-) 1.36 per cent over the same period last year. Overall imports in April-March 2019-20* are estimated to be USD 598.61billion, exhibiting a negative growth of (-) 6.33 per cent over the same period last year.
The limits for FPI investment in Government securities (G-secs) and State Development Loans (SDLs) shall remain unchanged at 6% and 2%, respectively, of outstanding stocks of securities for FY 2020-21.
Central Board of Direct taxes (CBDT) today said that it has already issued over 10.2 lakh refunds totalling to around Rs. 4,250 crore as on 14th April 2020. These refunds are over and above the 2.50 crore refunds already issued in FY 19-20 till 31st March 2020 totalling Rs 1.84 lakh crore.
What is Salary? ‘Salary’ is a fixed and regular remuneration made by an employer to an employee on a periodic basis. The actual receipt of salary in the previous year is not material as far as its taxability is concerned. The existence of employer – employee relationship is absolutely essential for taxing a particular receipt […]
Further Clarification vide General Circular No 17/2020 on passing of ordinary and special resolutions by companies under the Companies Act, 2013 and rules made thereunder on account of the threat posed by COVID-19
Sovereign Gold Bond Scheme of Government of India-Procedural Guidelines-Consolidated- Sovereign Gold Bonds are issued by Government of India as Government of India Stock in accordance with Section 3 of Government Securities Act, 2006
