Discover how RBI allows international trade settlement in Indian Rupees (INR) and the benefits it brings to the Indian economy.
The Council at its 407th Meeting of the Council held from 7th– 9th January 2022 decided to mandate the Peer Review process for coverage of more firms under Peer Review process. The roll out shall be made in four following stages: Phase – 1 Category of firms covered shall be -> Firms which have undertaken […]
Repayment of Home Loan comprises of 2 components – Principal and Interest. Treatment of repayment of principal and interest are governed by 2 different sections of the Income Tax Act, 1961. Section 80C of the Income Tax Act allows for a deduction of payment of principal component and it is allowed on the basis of […]
National Payments Corporation of India (NPCI) in association with the Department of Financial Services (DFS), National Health Authority (NHA), Ministry of Health and Family Welfare (MoHFW), and partner banks, has launched an innovative digital solution – ‘e-RUPI’. What is e-RUPI? It is a seamless one-time payment mechanism where users will be able to redeem the […]
The Companies Fresh Start Scheme. 2020 {CFSS-2020}, operationalized vide General circular no. 12/2020 dated 30.03.2020 and extended vide General Circular Number 30/2020 dated 28.09.2020 is no longer applicable on various filings under Companies Act, 2013. Now, CFSS – 2020 has been extended till 31.03.2021 but the question is – this extended scheme is applicable to […]
TDS on Payment of certain sums by e-commerce operator to e-commerce participant {Section 194-O of Income Tax Act, 1961} Section 194-O of Income Tax Act, 1961 is introduced w.e.f. 01-10-2020. According to that, where sale of goods or provision of services of an e-commerce participant is facilitated by an e-commerce operator through its digital or […]
