Finance : Explore the significance of an intercompany loan agreement between a holding company and its subsidiary in India. Learn how it fos...
Finance : In this blog post we will cover two tools that can streamline this journey: Business Loan EMI Calculators and the Aadhar Card. Let...
Finance : When it comes to fueling your business growth or overcoming financial challenges, securing a business loan can be a strategic move...
Corporate Law : Securing a business loan can often feel overwhelming and intricate. Obtaining a business loan involves a thorough evaluation of th...
Finance : An instant personal loan is a popular way that many use to bridge financial gaps, be it during weddings, medical emergencies or mo...
CA, CS, CMA : To, Address City, Maharashtra, 422001. Subject : First Reminder for Late Payment Dear Sir/Maam, It has come to our attention that ...
Finance : To be printed in stamp paper of Rs.______________ (based on the respective Stamp Act applicable) LOAN AGREEMENT LOAN AGREEMENT B...
Finance : Interest on Education Loans All Scheduled Commercial Banks provide Education Loan to students. IBA has formulated and circulated t...
Finance : Students whose parental income is less than Rs. 4.5 lakhs per annum and are enrolled in recognized technical & professional course...
Fema / RBI : Even as India has been cited as an example of prudential banking norms, the Reserve Bank of India (RBI) today said some lenders ar...
Corporate Law : In present facts of the case, the Revision Petition (RP) has been filed by the Petitioner against Respondents under section 21 (b)...
Corporate Law : Kiran David Vs Assistant General Manager State Bank of India (Kerala High Court) The petitioners are aggrieved by the denial of ed...
Fema / RBI : The contentions of the RBI that the dispute is between the Petitioner and Respondents is not acceptable since the dispute arises o...
Finance : In the present case, the education loan application had been declined on the ground that the CIBIL report of the petitioner's fath...
Income Tax : The provisions of Explanation to section 73 do not distinguish between the transaction of trading in shares on actual delivery or ...
Fema / RBI : In terms of paragraphs 2.1.1 and 2.1.2 of Section I of the guidelines on lending to priority sector enclosed to circular RPCD.No.R...
Even as India has been cited as an example of prudential banking norms, the Reserve Bank of India (RBI) today said some lenders are not monitoring effectively use of loans by borrowers, which is facilitating diversion of funds. This came to light whe
The Reserve Bank of India (RBI) has once again advised banks and financial institutions to ensure that all information relating to charges or fees for processing of loans should be disclosed in the loan application forms. This is applicable to all lo
The provisions of Explanation to section 73 do not distinguish between the transaction of trading in shares on actual delivery or without delivery basis. Admittedly the assessee does not fall under any of the exceptions provided in the Explanation and hence, the purchase and sale of shares traded during the year under consideration is in nature of speculation business within the meaning of proviso to section 73 of IT Act, 1961.
Ministry of Human Resource Development has proposed to introduce a scheme for full interest subsidy during the period of moratorium on loans taken by students belonging to economically weaker sections from the banks under the Education Loan Scheme of the Indian Banks’ Association (IBA) for pursuing any of the approved courses of studies in technical and professional streams from recognised institutions in India.
British newspaper The Independent reported that the banks include HSBC, Royal Bank of Scotland, Lloyds Banking Group, and Standard Chartered. The banks’ total loans to Dubai World exceeds US$ 30 billion.
In view of large increase in credit to the Commercial Real Estate (CRE) sector over the last one year and the extent of restructured advances in this sector, it would be prudent to build cushion against likely non-performing assets (NPAs). Accordingly, it has now been decided to increase the provisioning requirement for advances to the CRE sector classified as ‘standard assets’ from the present level of 0.40 per cent to 1.00 per cent.
In terms of paragraphs 2.1.1 and 2.1.2 of Section I of the guidelines on lending to priority sector enclosed to circular RPCD.No.RRB. BC.20/ 03.05.33/2007- 08 dated August 22, 2007, credit to small enterprises includes loans granted to micro and small (manufacturing and service) enterprises, provided investment in plant and machinery [original cost excluding land and building and the items specified by the Ministry of Small Scale Industries vide its notification no. S.O. 1722 (E) dated October 5, 2006] does not exceed Rs. 5 crore in respect of manufacturing enterprises and investment in equipment
Closely-held group companies that frequently borrow money from each other should make a mental note of a recent ruling by the income tax appellate tribunal (ITAT), a quasi-judicial tax authority. The tribunal has said that “deemed dividend cannot be taxed in the hands of non-shareholders. ” In order to avoid paying dividend distribution tax (DDT) of 17.5%, profit-making, closely-held (unlisted) companies
Frequently Asked Questions on AS 11 notification – Companies (Accounting Standards) Amendment Rules, 2009 (G.S.R. 225 (E) dt. 31.3.09) issued by Ministry of Corporate Affairs. ASB Guidance in the form of FAQs on AS 11 notification – Companies (Accounting Standards) Amendment Rules, 2009 (G.S.R. 225 (E) dt. 31.3.09) issued by Ministry of Corporate Affairs does […]
8.3 It cannot be disputed and it is not the case of either side that the reasons extracted hereinabove did not precede the issuance of notice under Section 148(1) of the Act. The requirement for recordal of reasons by the Assessing Officer before issuing a notice is provided for under sub-section (2) of Section 148 of the Act. 8.4 A perusal of the reasons would thus show that the Assessing Officer was
