RBI relaxes norms for periodic updation of KYC by banks. Operations of such account not to be restricted till December 31, 2021 In terms of Section 38 of the Master Direction on KYC dated February 25, 2016, Regulated Entities (REs) are required to carry out periodic updation of …

CBDT prescribes limit & condition for exemption u/s 10(5) of value received by employee in lieu of Travel Concession. Limit fixed as Rs. 36000/- or one-third of expenditure, whichever is less MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 50/2021 New Delhi, the 5th May, …

RBI Resolution Framework-2 for Covid-19 related stress of Individuals and Small Businesses. The last date for invocation of resolution is September 30, 2021. The RBI vide Resolution Framework – 1.0 “Resolution Framework for COVID-19-related Stress” had provided a window to enable lenders to implement a resolution plan in …

RBI extends restructuring of MSMEs existing loans without downgrade in asset classification In August 2020, to support the MSME entities on account of Covid-19 pandemic RBI had permitted that existing loans to MSMEs classified as ‘standard’ may be restructured without a downgrade in the asset classification. In view …

  The Institute of Company Secretaries of lndia (ICSI) has postponed June 2021 Foundation, Executive (old and new syllabus) Examinations. ICSI postpones June 2021 Examinations According to the Announcement in this regard, this decision has been taken in view of the Covid-19 pandemic to protect the interests of …

CBDT specifies Ivanhoe Logistics India Inc as Pension fund u/s 10(23FE) in respect of eligible investment on or before 31st day of March, 2024   MINISTRY OF FINANCE(Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 45/2021 New Delhi, the 4th May, 2021   (INCOME-TAX)   S.O.1734(E).—In …