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Tax Collected at Source (TCS) on Sale of Goods w.e.f. 01-10-2020

Eligibility, Applicability and all about Bonus Act, 1965

Let us see about various aspects of Bonus Act and its applicability in this article : Who is employee as per Bonus Act? Any person, not being an apprentice, working…

Stricter Guidelines for Opening of Current Accounts by Banks – Step towards curtailing Diversion of Funds

Issuing Authority: Reserve Bank of India. Notification Number: RBI/2020-21/20. Applicable to: Banking sector. Date of issue: 6th August 2020. Summary: The digital revolution occurring in financial services – with more…

Automation of Income Recognition, Asset Classification and Provisioning processes in banks

RBI/2020-21/37 Ref. No. DoS.CO.PPG./SEC.03/11.01.005/2020-21 September 14, 2020 The Chairman / Managing Director / Chief Executive Officer All Scheduled Commercial Banks (Excluding RRBs) and All Small Finance Banks Madam / Dear…

Long Form Audit Report (LFAR) – Review

RBI/2020-21/33 Ref.No.DOS.CO.PPG./SEC.01/11.01.005/2020-21 September 05, 2020 The Chairman / Managing Director / Chief Executive Officer All Scheduled Commercial Banks (Excluding RRBs) All Local Area Banks All Small Finance Banks and All…

Resolution Framework for COVID-19-related Stress – Financial Parameters – RBI

RBI/2020-21/34 DOR.No.BP.BC/13/21.04.048/2020-21 September 7, 2020 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks/State Co-operative Banks/District Central Co- operative Banks…

INFORMATION UTILITY

Preamble: Information Utility is a platform to submit information of a debtor by a creditor which acts a repository of information to substantiate the existence of debt. National E-Governance Services…

Tax Collected at Source (TCS) Amendments w.e.f 01-10-2020

Changes in the Income Tax Returns for AY 2020-21 – CBDT

In the recent announcement by the Finance minister, the due date for filing the Income tax Returns -AY 2020-21 for individuals has been extended to 30th November 2020. The Income…

Note on amendment to Micro Small and Medium Enterprises Development Act, 2006 MSME UDYAM REGISTRATION

Ministry of Micro, Small and Medium Enterprises vide notification No. S. O. 2119(E) dated 26th June 2020 has brought in certain changes in the classification of enterprises as MSME and…