Day: August 6, 2020
RBI revises guidelines for Opening of Current Accounts by Banks. The revised RBI instructions on opening of current accounts by banks are as under: No current A/c if cash credit / overdraft facility have been availed i. No bank shall open current accounts for customers who have availed …
Girish Chandra Murmu appointed as new Comptroller and Auditor General (CAG) of India MINISTRY OF FINANCE(Department of Economic Affairs) NOTIFICATION New Delhi, the 6th August, 2020 No. 6(11)-B (R)/2020.—By virtue of the power vested in him by clause (1) of article 148 of the Constitution of India, the …
Determination of Liquidator Fee where realised amount not distributed or amount distributed but not realised Determination of Liquidator Fee IBBI (Liquidation Process) Regulations, 2016 require the committee of creditors to fix the fee payable to the liquidator. Where the fee has not been fixed by the committee of …
Corporate person may replace liquidator in voluntary liquidation process by appointing another insolvency professional. The Insolvency and Bankruptcy Code, 2016 enables a corporate person to initiate voluntary liquidation process if it has no debt or it will be able to pay its debts fully from the proceeds of …
Functionality to file Revocation Application against GST Registration cancellation order enabled at GSTN Portal under Removal of Difficulty. Functionality to file Revocation Application In view of the Removal of Difficulty Order No. 01/2020 dated 25.06.2020, the restriction on filing revocation application, in case it was rejected, has been …
How to use Offline Tool to prepare Form GSTR-4 Annual Return by Composition Taxpayers An EXCEL based offline tool has been provided on GST portal for composition taxpayers to prepare their GSTR-4 Annual Return. 1.Steps to use the offline tool: Whether step is Online or Offline Steps to …
Existing loans to MSMEs classified as ‘standard’ may be restructured without a downgrade in the asset classification Micro, Small and Medium Enterprises (MSME) sector – Restructuring of Advances To support the MSME entities on account of the fallout of Covid-19 pandemic RBI has decided that existing loans to …
Exemption u/s 54F for investment in name of wife allowed when non-jurisdictional High Courts had different opinions and no decision was from jurisdictional HC ABACUS Case Law CitationABCAUS 3357 (2020) (08) ITAT Important case law relied upon by the parties:CIT vs. Podar Cement (P.) Ltd. 226 ITR 625(SC)Mysore …
Intimation of record date to all stock exchanges-SEBI amends LODR Regulations. Regulation 42 of the LODR requires a listed entity to intimate the fixing of record date or date of closure of transfer books to the Stock Exchanges. Record date is the date fixed by a listed …
