It is clarified that banks shall not charge foreclosure charges/ pre-payment penalties on any floating rate term loan sanctioned, for purposes other than business, to individual borrowers with or without co-obligant(s).
It is clarified that NBFCs shall not charge foreclosure charges/ pre-payment penalties on any floating rate term loan sanctioned for purposes other than business to individual borrowers, with or without co-obligant(s).
The Basic Savings Bank Deposit (BSBD) Account was designed as a savings account which would offer certain minimum facilities, free of charge, to the holders of such accounts. In the interest of better customer service, it has been decided to make certain changes in the facilities associated with the account. Banks are now advised to offer the following basic minimum facilities in the BSBD Account, free of charge, without any requirement of minimum balance.
Reserve Bank of India RBI/DBR/2019-20/71 Master Direction DBR.Appt.No: 9/29.67.001/2019-20 August 2, 2019 Master Direction – Reserve Bank of India (‘Fit and Proper’ Criteria for Elected Directors on the Boards of PSBs) Directions, 2019 In exercise of the powers conferred by sub-section (2) of Section 19A of the State Bank of India Act, 1955 [hereinafter referred […]
CBDT notifies Bangalore Water Supply and Sewerage Board for exemption U/s. 10(46) of Income Tax Act, 1961 vide Notification No. 56/2019 dated 2nd August, 2019. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 56/2019 New Delhi, the 2nd August, 2019 S.O. 2782(E).—In exercise of the powers conferred by clause (46) […]
Generation of SCORES user id and password has been automated for all new SEBI registered intermediaries. This has been done to streamline the process of providing SCORES credentials in the interest of investors.
E-Tender for Appointment of Concurrent Auditors for the year 2019-20 w.e.f. October 01, 2019 to September 30, 2020 by Reserve Bank of India, HRMD, CO cluster and CSBD, CO.
A member of the Institute in practice shall generate Unique Document Identification Number (UDIN) for all kinds of the certification, GST and Tax Audit Reports and other Audit, Assurance and Attestation functions undertaken/signed by him which made mandatory from the following dates through announcements published on the website of the ICAI www.icai.org at the relevant time: –
The dealers, whose tax liability in the year does not exceed Rs. 25,000 need not file audit report in form e-704 even if the turnover of such dealer exceeds Rs. 1 crore in the said year. Dealer, who holds an Entitlement Certificate in respect of any Package Scheme of Incentives, shall not be liable to file audit report in form e-704 if his tax liability in the year does not exceed Rs. 25,000. This provision shall be applicable for the audit reports to be filed for any year, from 2019-20 onwards.
Board has received various representations wherein specialized agencies have raised the matter of refund of IGST paid on imported goods. It has been informed that the specialized agencies are paying IGST on import of goods but the refund of same is not being processed by Customs formations.
