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Notifications/Circulars

Provisioning for standard assets by primary Urban co-operative banks – revised norms

April 24, 2023 4824 Views 0 comment Print

RESERVE BANK OF INDIA RBI/2023-24/18 DOR.STR.REC.12/21.04.048/2023-24 April 24, 2023 All Primary (Urban) Co-operative Banks, Madam / Dear Sir, Provisioning for standard assets by primary (Urban) co-operative banks – revised norms under four-tiered regulatory framework Please refer to circular DOR.REG.No.84/07.01.000/2022-23 dated December 01, 2022, in terms of which Urban Co-operative Banks (UCBs) have been categorized into four […]

GSTN Advisory on Bank Account Validation

April 24, 2023 18237 Views 1 comment Print

GSTN is pleased to inform you that the functionality for bank account validation is now integrated with the GST System. This feature is introduced to ensure that the bank accounts provided by the Tax Payer is correct.

Non-Appointment CS – Penalty reduced Maximum penalty Harsh

April 24, 2023 429 Views 0 comment Print

Non-Appointment CS – penalty reduced – Ac imposing maximum penalty by Registrar of Companies on company, its Managing Director and other director is very harsh, burdensome on Company.

Rs. 15 Lakh penalty on Company & Directors for not appointing CS

April 24, 2023 26310 Views 0 comment Print

As Rule 8A (Appointment of Company Secretaries in Companies Not Covered Under Rule 8) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 (w.e.f 09.06.2014), a company other than a company covered under Rule 8 which has a paid-up share capital of five crore rupees or more shall have a whole-time company secretary. […]

MCA Imposes Rs. 25 Lakh Penalty for Not appointing Company Secretary

April 24, 2023 11004 Views 0 comment Print

ub-section (5) of Section 203 of the Act provides that if any company makes any default in complying with the provisions of this section, such company shall be liable to a penalty of five lakh rupees and every director and key managerial personnel of the company who is in default shall be liable to a penalty of fifty thousand rupees and where the default is a continuing one, with a further penalty of one thousand rupees for each day after the first during which such default continues but not exceeding five lakh rupees.

Guidelines for validation of EPS-95 higher pension

April 23, 2023 10413 Views 1 comment Print

EPS-95 higher pension – Application for validation of option / joint options- Scrutiny of information & wage details submitted by employee & employer

Procedure for seeking prior approval for change in control of Vault Managers

April 21, 2023 762 Views 0 comment Print

The application shall be accompanied by the following information/declaration about itself, the acquirer(s)/the person(s) who shall have the control and their directors / partners

Allocation of additional quantity of 2360 MT for export of raw cane sugar to USA under TRQ

April 21, 2023 714 Views 0 comment Print

Additional quantity of 2360 MT of raw cane sugar for export to USA under TRQ, upto 30.09.2023, has been notified.

Amendment under Interest Equalisation Scheme in respect of UIN

April 21, 2023 1038 Views 0 comment Print

An Acknowledgement consisting of UIN, valid for a financial year shall be unique to a specific bank. If a scheme beneficiary desires to take advantage of the benefits of the scheme from multiple banks, a new UIN must be provided for each bank.

Notification No. 23/2023-Income Tax, Dated: 21.04.2023

April 21, 2023 210246 Views 5 comments Print

Central Government hereby approves ‘National Institute of Design, Ahmedabad (PAN: AAATN1137D)’ under the category of ‘University, College or Other Institution’ for ‘Scientific Research’ for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 read with rules 5C and 5E of the Income-tax Rules, 1962.

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