Average base rate charged by NBFC-MFIs to their borrowers from January 2021 to be 7.96% Average base rate to be charged by NBFC-MFIs to their borrowers for quarter beginning January 1, 2021 notified at 7.96 per cent. Reserve Bank of India (RBI) has communicated that the applicable average …

Extension of due date of 31.12.2020 for tax and other audit and ITRs filing for AY 2020-21 – Read CBDT Order  Extension of due date for tax audit and ITRs filing for AY 2020-21 In view of the continued challenges faced by taxpayers in meeting statutory compliances due …

Aadhaar based EVC OTP for e-verification of ITRs is not working properly As per advisory displayed at Income Tax e-filing website, Aadhaar based OTP for e-verification of ITRs is not working The text of the advisory is as under: “It has come to our notice that users are …

Report of Quality Review Board for FY 2019-20. 3 cases referred to ICAI Council for initiation of Disciplinary Proceedings. Report of Quality Review Board for FY 2019-20 The Quality Review Board (QRB) is established under the Chartered Accountants Act, 1949. The QRB reviews all aspects of how an …

Dealers in precious / stones and real estate agents notified under the PMLA (Maintenance of Records) Rules 2005   Finance Ministry notifies dealers in precious / stones and real estate agents under the Prevention of Money-laundering (Maintenance of Records) Rules 2005   The following category of persons has …

ICAI UDIN One-time Condonation Scheme from 1st January, 2021 to 31st January 2021. Delays in generation of UDINs during 1st February 2019 till 31st December 2020 condoned Considering various representations, ICAI has granted One-time Condonation Scheme to regularize UDINs.  ICAI UDIN One-time Condonation Scheme As a One-time condonation scheme, …