The Income Tax Department conducted search on 9th October 2019 on a prominent business group in Karnataka which runs multiple educational institutions. During the course of the search, the modus operandi of conversion of seats which were originally to be allotted by merit through counselling by MCC maliciously into institutional quota seats through dropout system has been unearthed.
Invitation of public views / suggestions on the Institutional framework for regulation and development of Valuation Professionals The Ministry of Corporate Affairs, vide its Order dated 30th August 2019, has constituted a Committee of Experts to examine the need for an Institutional framework for regulation and development of valuation professionals.
This post contains Statement by RBI Governor – Fourth Bi-monthly Monetary Policy Statement, 2019-20, Fourth Bi-monthly Monetary Policy Statement, 2019-20 Resolution of the Monetary Policy Committee (MPC) and Statement on Developmental and Regulatory Policies. Reserve Bank of India Statement by Governor – Fourth Bi-monthly Monetary Policy Statement, 2019-20, October 4, 2019 Over the past three […]
Reserve Bank Enhances withdrawal limit for depositors of Punjab and Maharashtra Cooperative Bank Ltd to Rs. 25,000 Reserve Bank of India Date : Oct 03, 2019 It may be recalled that the Reserve Bank of India had permitted the depositors of Punjab and Maharashtra Cooperative Bank Ltd to withdraw up to Rs. 10,000/- (Rupees Ten Thousand […]
Vide modified Directive dated September 26, 2019, it has been decided to allow the depositors to withdraw a sum not exceeding ₹10,000/- (Rupees Ten Thousand Only) (including ₹1,000/- wherever already withdrawn) of the total balance held in every savings bank account or current account or any other deposit account by whatever name called, subject to conditions stipulated in the RBI Directive dated September 23, 2019.
DIRECTORATE GENERAL OF GOODS & SERVICES TAX INTELLIGENCE, ZONAL UNIT, AHMEDABAD. 6th & 7th Floor, I-The Address, Near Sola Fly Over, Off : SG Highway, Ahmedabad – 380060 Phone: 079-26477011; Fax: 079-29600116. F. No. DGGI/AZU/Gr ‘A’/12(4)/118/2019-20 Dated: 24.09.2019 PRESS NOTE Acting on specific intelligence that a few units located in Kandla SEZ at Gandhidham, (Gujarat) […]
Finance Minister as part of the Budget Speech for FY 2019-20 had proposed to initiate steps towards creating a social stock exchange, under the regulatory ambit of Securities and Exchange Board of India, for listing social enterprise and voluntary organizations.
The key recommendations of the Committee, guided by the broad perspective of enhancing efficiency and transparency of securitisation transactions, are as follows: setting up of a government sponsored intermediary, through the National Housing Bank, to enable market making and standard setting;
CBDT has entered into 26 APAs in the first 5 months of the current financial year (April to August, 2019). With the signing of these APAs, the total number of APAs entered into by the CBDT as of now stand at 297, which includes 32 BAPAs.
Section 194N inserted in the Act, is to come into effect from 1st September, 2019. Hence, any cash withdrawal prior to 1st September, 2019 will not be subjected to the TDS under section 194N of the Act. However, since the threshold of Rs. 1 crore is with respect to the previous year, calculation of amount of cash withdrawal for triggering deduction under section 194N of the Act shall be counted from 1st April, 2019.
