RBI
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 KYC of existing customers.
However, in view the second wave of COVID-19 pandemic and related restrictions in various parts of the country, RBI has advised REs that in respect of the customer accounts where periodic updation of KYC is due and pending as on date, no restrictions on operations of such account shall be imposed till December 31, 2021 unless warranted under instructions of any regulator/ enforcement agency/court of law, etc.
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…