RBI
RBI prohibits banks from dividend declaration for FY ended 31.03.2020
RBI has prohibited banks from making any further dividend declaration/payouts from the profits pertaining to the financial year ended March 31, 2020 until further instructions.
In India, Banks have been granted general permission to declare dividends, subject to compliance with the RBI guidelines. As per Notification issued by the RBI, the said restriction, has been necessitated by heightened uncertainty caused by COVID-19.
The step was taken to ensure that that banks could conserve capital to retain their capacity to support the economy and absorb losses.
It is stated that the restriction shall be reassessed by the Reserve Bank based on the financial results of banks for the quarter ending September 30, 2020.
Mere non-deduction of TDS by the deductor on a transaction does not change the character of the transaction to make…
ICAI has extended the last date to online submit Multipurpose Empanelment Form (MEF)- 2026-27 from 29th August 2026 to 9th…
Can a demand notice be issued u/s 156 for non-payment of Dividend tax u/s 115-O, when as per assessment order…
The issue already examined and adjudicated by the quasi-judicial authority, i.e., CIT(Appeals), cannot be reopened on the same set of…
One TDS is deducted, credit has to follow, failure of deductor to deposit the amount to the credit of the…
Merely because assessee did not explain purpose of cash withdrawal from bank, it can not be taxed u/s 69C as…