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The bank/ lending institution will provide ex gratia payment to the borrower account of the difference between compound interest and simple interest on loan accounts with sanctioned limits and outstanding upto Rs. 2 crores (aggregate of all the borrowings / facilities from all the banks and financial Institutions) for the period from 1st March 2020 to 31st August 2020 (6 months / 184 days).
High Court on Its Own Motion Vs State of Maharashtra (Bombay High Court) 1. Although the situation in the State of Maharashtra because of the pandemic has improved over the last few days, access to the courts of law is yet not free. To ensure that persons suffering orders of dispossession, demolition, eviction, etc., passed […]
Competent authority of SEBI has approved the extension of the period of the SEBI Settlement Scheme 2020 till December 31, 2020 considering large scale disruption caused by the Covid-19 pandemic
With the COVID-19 pandemic playing havoc and resulting in many practical challenges, the Indian Government has come out with various relief measures and also extended different statutory deadlines. Recently, the Finance Ministry via Press Release and as per Notification No. 88/2020 issued by CBDT dated 29 October 2020 announced further extension of deadlines for filing […]
All those Businessmen out there, Cheer Up, Even the Union Government of India is in the same boat as all of us, in this corona pandemic. Monthly Review of Accounts of Union Government of India upto the month of September, 2020 for the Financial Year 2020-21 The Monthly Account of the Union Government of India […]
CBDT issued Notification No. 88/2020 and extended Due dates of Income Tax Return and Tax Audit Report as follows:- A. Income Tax Return FY 2019-20/AY 2020-21 i. Without tax audit –31.12.20 ii. TP, tax audit & tax audit firm partners– 31.01.21 B. Various audit reports (tax audit, transfer pricing etc) – 31.12.20 C. Income tax […]
Will banks be required to maintain specified securities for the amount received in TLTRO in HTM book at all times? Yes. The banks will have to maintain amount of specified securities for the amount received in TLTRO in its HTM book at all times till maturity of TLTRO.
The Ministry of Finance has issued a notification (F. No.2/12/2020-BOA.I dated 23.10.2020) announcing the scheme for grant of ex-gratia payment of difference between Compound Interest and Simple Interest for six months to the borrowers in specified loan accounts (01.03.2020 to 31.08.2020) wherein the following issues are to be addressed in order to make the scheme […]
Since the issuance of the first Order on lockdown measures by MHA on 24thMarch 2020, almost all activities have been gradually opened up in areas outside the Containment Zones. While most of the activities have been permitted, some activities involving large number of people, have been allowed with some restrictions and subject to SOPs being followed regarding health and safety precautions. These activities include – metro rail; shopping malls; hotel, restaurants and hospitality services; religious places; yoga and training institutes; gymnasiums; cinemas; entertainment park etc.
We request your good self to provide appropriate relaxation to the registered person and extend the due dates of all compliances which were due to be complied by the current due date of 30th Sept 2020 to 31st March 2021.
