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Reserve Bank of India

TDS on Cash Withdrawals: CBDT clarifies on Validity of Exemption Notifications [Read Circular]

Taxscan Team

The Central Board of Direct Taxes ( CBDT ) on Monday notified clarification in relation to the notification issued under clause (v) of the proviso to...

RBI extends Timeline for Finalization of Audited Accounts

Co-Operative Banks come under RBI: Centre notifies Banking Regulation (Amendment) Ordinance, 2020...

Pradhan Mantri Mudra Yojana - interest subvention - Shishu Loan - Taxscan

2% Interest Subvention approved on Prompt Repayment of Shishu Loan under Pradhan Mantri Mudra Yojana...

Cabinet decides to bring Co-operative Banks under RBI through an Ordinance

SEBI notified Issue of Capital And Disclosure Requirements (Second Amendment) Regulations, 2020 [Read Notification]

The Security and Exchange Board of India (SEBI) on Monday notified the Issue of Capital And Disclosure Requirements (Second Amendment) Regulations, 2020, whereby new proviso has been inserted which...

TDS on Cash Withdrawal w.e.f. 1 July 2020: All You Need to Know

The Finance Act, 2020 tightened the existing provisions for those who have not been filing income tax returns. This will be applicable from July 1, 2020. Section 194N for deduction of tax at source...

RBI announces creation of Payments Infrastructure Development Fund

The Reserve Bank of India ( RBI ) has announced the creation of a Payments Infrastructure Development Fund (PIDF) to encourage acquirers to deploy Points of Sale (PoS) infrastructure (both physical...

RBI extends Timeline for Compliance with various Payment System Requirements

The Reserve Bank of India ( RBI ) has extended the timeline for Compliance with various Payment System Requirements. The RBI has said that A reference is invited to Reserve Bank of India (RBI)...

COVID 19: Key Relaxations – An Opportunity?

The tellers of doom would argue that India Inc is staring at the end of a barrel owing to the contagion. In my view, we are at a cusp, where all the fittest would survive. To me, in every adversity,...

Electronic Cards can be issued for Overdraft Accounts: RBI [Read Circular]

The Reserve Bank of India( RBI ) has permitted banks to issue electronic cards to natural persons having Overdraft Accounts that are only in the nature of personal loan without any specific end-use...

Interest received on Interbank Exposure of Primary (Urban) Co-operative Banks shall not be recognized as Income: RBI

The Reserve Bank of India ( RBI ) has said that, Interest received on Interbank Exposure of Primary (Urban) Co-operative Banks shall not be recognized as Income. The imposition of All-inclusive...

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