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Kerala Finance Bill, 2019 Amnesty scheme for settlement of arrears: instructions

April 1, 2019 5193 Views 0 comment Print

The assessees who opt for Kerala Finance Bill, 2019 Amnesty scheme for settlement of arrears need only to pay the principal amount in full. Entire interest and penalty shall be waived. In the case of arrears under Kerala General Sales Tax from 01.04.2005 to 31.03.2018 principal and interest shall be paid. Penalty shall be waived

Disclosure of Divergence in asset classification & provisioning by Banks

April 1, 2019 1245 Views 0 comment Print

Banks should disclose divergences, if either or both of the following conditions are satisfied:a. the additional provisioning for NPAs assessed by RBI exceeds 10 per cent of the reported profit before provisions and contingencies for the reference period, andb. the additional Gross NPAs identified by RBI exceed 15 per cent of the published incremental Gross NPAs for the reference period.

Validity of ITR filed prior to 01.04.2019 without quoting of Aadhaar

March 31, 2019 2853 Views 0 comment Print

Returns which were filed prior to 01.04.2019 without quoting of Aadhaar number as an outcome of any decision of different High Courts in a specific case or returns which were filed during the period when the online functionality for filing the return without quoting of Aadhaar number was so available

Refund of security deposit given during Voluntary MVAT Registration

March 30, 2019 7911 Views 0 comment Print

The dealer who applies for voluntary registration was required to make the payment of Rs. 25,000/- as a security deposit, at the time of application for registration. Refund of such security deposit is to be given as per rule 60A of the Maharashtra Value Added Tax Rules, 2005.

Professional Tax- Exemption from payment of late fee u/s. 6(3)

March 30, 2019 9300 Views 0 comment Print

Revocation of Late fee exemption: If it is found that the employer has not fulfilled the conditions or has submitted false information to avail the benefit of exemption then, his exemption of late fee shall be revoked and action will be taken against him as per the provisions of law.

Procedure & formats for limited review / audit report of listed entity- Reg.

March 29, 2019 45180 Views 0 comment Print

Revised Procedure and formats for limited review / audit report of the listed entity and those entities whose accounts are to be consolidated with the listed entity

Applicability of para 5.10(c) of HBP 2015-20 on third party exports

March 29, 2019 7005 Views 0 comment Print

This Directorate has received references from the trade and RAs seeking clarification regarding the applicability of para 5.10(c) of HBP 2015-20 on third party exports. The matter has been examined in consultation with the Department of Revenue.

Reg. Opening of NRO Accounts by Long Term Visa (LTV) holders

March 28, 2019 1224 Views 0 comment Print

Foreign Exchange Management (Deposit) Regulations, 2016 – Opening of NRO Accounts by Long Term Visa (LTV) holders, changes related to Special Non-Resident Rupee (SNRR) Account and Escrow Account

Establishment of BO/ LO / PO or any other place of business in India by foreign entities

March 28, 2019 3603 Views 0 comment Print

For opening of a Branch Office (BO) / Liaison Office (LO) / Project Office (PO) or any other place of business in India, where the principal business of the applicant falls in the Defence, Telecom, Private Security and Information and Broadcasting sector, have since been reviewed in consultation with the Government of India and the amendments have been notified by Government vide Notification No. FEMA 22(R)(2)/2019-RB dated January 21, 2019.

Guidelines for Business Continuity Plan & Disaster Recovery of MIIs

March 26, 2019 1764 Views 0 comment Print

Securities and Exchange Board of India CIRCULAR SEBI/HO/MRD/DMS1/CIR/P/2019/43 March 26, 2019 To, All Stock Exchanges, All Depositories, All Clearing Corporations Dear Sir/ Madam, Guidelines for Business Continuity Plan (BCP) and Disaster Recovery (DR) of Market Infrastructure Institutions (MIIs) 1. SEBI vide circular CIR/MRD/DMS/12/2012 dated April 13, 2012 and CIR/MRD/DMS/17/2012 dated June 22, 2012 prescribed framework […]

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