The Income Tax Appellate Tribunal (ITAT) Bangalore held that no disallowance of interest expenses on account of non- deduction of TDS under section 36(1(vii) as well as u/s36(1)(viia) of the Income Tax Act, 1961. The...
The Reserve Bank of India ( RBI ) has announced the exemption from cash reserve ratio (CRR) maintenance for incremental credit disbursed by them as retail loans to automobiles, residential housing, and loans to micro,...
On presenting Budget 2020, finance minister proposes to exempt levy of stamp duty on transactions in stock exchanges established in International Financial Services Centre(IFSC). This provision will come into force on the 1st day of...
The Economic Survey 2019-20 highlights that The Insolvency and Bankruptcy Code (IBC) has improved the resolution process in India compared to the earlier measures. The IBC proceedings take 340 days on an average compared to...
The Reserve Bank of India (RBI) has, by an order dated January 29, 2020, imposed a monetary penalty of ₹ 1 crore on HDFC Bank Limited for non-compliance with Master Direction on Know Your Customer dated...
The Reserve Bank of India (RBI) has issued the revised guidelines for Merchanting Trade Transactions (MTT). The Following are the changes: I. For a trade to be classified as merchanting trade,...
The Reserve Bank of India (RBI) has released directions u/s 45 W of the Reserve Bank of India Act,1934 permitting Rupee derivatives (with settlement in foreign currency) to be traded in International Financial Services Centres (IFSCs)....
The Institute of Company Secretaries of India ( ICSI ) has approved to authorize the Company Secretary in Practice for appointment as authorized collection center of e-stamping. The Gujarat Government vide notification dt.2310812019 has amended...
The Reserve Bank of India (RBI) has allowed the Financial Institutions to conduct businesses in Indian National Rupees in International Financial Services Centres (IFSC). The RBI has issued notification On January 7, 2020, added a...
The Reserve Bank of India (RBI) has enhanced the Security of Card Transactions. Over the years, the volume and value of transactions made through cards have increased manifold. In a Communication issued by RBI said...
In pursuance with the Government of India notification dated January 14, 2020, Dr. Michael Debabrata Patra took over as the Deputy Governor of Reserve Bank of India today for a period of three years or...
The American Express has invited applications from M.Com/ MBA / CA (inter) for the post of Financial Analyst. American Express is a global service company, providing customers with exceptional access to products and experiences that...
The Reserve Bank of India (RBI) has issued the Cyber Security Controls Guidelines for Third-party ATM Switch Application Service Providers. The RBI observed that a number of RBI Regulated Entities (RREs) manage their ATM Switch...
The Reserve Bank of India ( RBI ) has extended the relaxation of the guidelines to Non-Banking Financial Companies ( NBFCs ) on Securitisation Transactions. The RBI asked to refer circular DNBR (PD)CC.No.95/03.10.001/2018-19 dated November 29,...
The Reserve Bank of India ( RBI ) has introduced a new type of semi-closed Prepaid Payment Instrument (PPI) – PPIs up to Rs. 10,000/- with loading only from the bank account to promote Digital...
The Reserve Bank of India (RBI) has directed banks participating in the NEFT system not to levy charges from their savings bank account holders for funds transfers done through NEFT system which is initiated online....
The Finance Ministry has clarified that, there is no proposal to stop the circulation of Rs. 2000 Notes. An analysis of the search cases, conducted by Income Tax Department (ITD), involving cash seizures of more...
The Union Cabinet chaired by Prime Minister Narendra Modi yesterday approved for withdrawing of the International Financial Services Centres Authority, 2019 Bill which was introduced in the Rajya Sabha on 12th February, 2019 and pending in...
The Delhi High Court has upheld the Institute of Chartered Accountants of India ( ICAI’s) decision to not to entertain the complaint filed against the Auditor after seven years of signing Audit Report. The petitioner...
The Reserve Bank of India ( RBI ) announces the opening of first cohort under the Regulatory Sandbox (RS) with ‘Retail Payments’, as its theme. The adoption of ‘Retail Payments’ as the theme is expected...
The Finance Minister Nirmala Sitharaman had announced several short and long-term measures to boost economy on 23.10. 2019, 30.8.2019 and 14.09.2019. Out of these a total number of thirty-two measures were announced on 23.08.2019 to boost...
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