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Govt clarifies on corporate tax collections after criticism
After criticism on Tax Rate Reduction for Corporates Income Tax India has given following clarification on Twitter. It is to be noted that Tax Rate for Corporates been reduced to 22% while other categ...
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India likely to be second most important driver of global growth: RBI Governor
(Speech delivered by Dr. Michael Debabrata Patra, Deputy Governor, Reserve Bank of India in an event to celebrate Azadi Ka Amrit Mohotsav organised by Reserve Bank of India, – August 13, 2022, Bhubane...
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CBI Arrests an Official of Revenue Department for Accepting Bribe
OF Rs. 25,000/- The Central Bureau of Investigation has arrested a Girdawar (Revenue Department Official equivalent to Kanungo), Miran Sahib, District Jammu for demanding & accepting bribe of Rs. 25,0...
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CMA: Payment of Membership Fee & updation of Professional address
THE INSTITUTE OF COST ACCOUNTANTS OF INDIA Members are kindly aware that the fee for the year 2022-2023 has become due and payable on 1st April, 2022. The amount of Annual Membership fee is payable (a...
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Income Tax Dept searches steel TMT Bars manufacturing group
Income Tax Department conducts searches in Maharashtra The Income Tax Department carried out a search operation on 03.08.2022 on two major groups engaged in the manufacturing of steel TMT Bars. The se...
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Claim of 18% GST on house rent for tenants is Misleading: Govt
Govt clarified on 18% GST on house rent for tenants as follows:- – Renting of residential unit taxable only when it is rented to business entity – No GST when it is rented to private person for person...
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CGST Mumbai (South) Commissionerate busts Rs. 455 Crore fake GST invoice racket
In a press statement issued by the office the Principal Commissioner of CGST and CX, Mumbai (South) has informed that – Officers of CGST Mumbai South Commissionerate have busted a fake GST invoice rac...
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New Functionalities for Taxpayers on GST Portal (July, 2022)
1. GST Registration 1 Allow taxpayer to enter multiple trade names Earlier only a single Trade Name was being captured during New Registrations and subsequent amendment in core field for Normal Taxpay...
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Income Tax Department searches Jhansi based Real Estate group
Income Tax Department conducts searches in Uttar Pradesh The Income Tax Department carried out a search operation on 03.08.2022 on a Jhansi based group, engaged in the business of civil contract and r...
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SC explains section 7(5)(b) of IBC 2016 in case of appeal being continuation of original proceedings
Kotak Mahindra Bank Limited Vs. Kew Precision Parts Private Limited & Ors. (Supreme Court) The Hon’ble SC vide its order dated 5th August, held that an appeal being the continuation of original procee...
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IBBI disposes off 6,172 complaints out of 6,231 against service providers under IBC
IBBI disposes off 6,172 complaints and grievances out of 6,231 against service providers under IBC The Insolvency and Bankruptcy Board of India (Grievance and Complaint Handling Procedure) Regulations...
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FRC fined PwC over BT fraud audit failures
Financial Reporting Council Sanctions against PricewaterhouseCoopers LLP and audit partner This Press Notice concerns the outcome of an investigation into the relevant Statutory Auditor(s). The invest...
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ED searches Director of WazirX Crypto-Currency Exchange
ED searches the Director of WazirX Crypto-Currency Exchange & freezes its Bank assets worth Rs 64.67 Crore for assisting accused Instant Loan APP Companies in laundering of fraud money via purchase &...
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Consultation Paper on Green & Blue Bonds as a mode of Sustainable Finance
1. Background 1.1 Sustainable Finance is the process of taking due account of environmental, social and governance (ESG) considerations while making investment decisions in the financial sector, leadi...
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Disclosure of Transaction of Shares not required to be made to SEBI
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF ECONOMIC AFFAIRS LOK SABHA UN-STARRED QUESTION NO.: 3484 TO BE ANSWERED ON AUGUST 8, 2022 DISCLOSURE OF TRANSACTION OF SHARES SHRI NABA KUMAR SARA...
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RBI is prohibited from disclosing borrower-wise credit information
GOVERNMENT OF INDIA MINISTRY OF FINANCE LOK SABHA UNSTARRED QUESTION NO-3473 ANSWERED ON- 08/08/2022 BANK LOAN FRAUDS 3473. SHRI RITESH PANDEY Will the Minister of FINANCE be pleased to state:- (a) th...
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Steps to protect interests of Fixed Deposit of investors in bank
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF FINANCIAL SERVICES LOK SABHA UNSTARRED QUESTION NO. 3650 ANSWERED ON MONDAY, 8th AUGUST, 2022/ SRAVANA 17, 1943 (SAKA) PROTECTION OF INVESTORS Ϯ36...
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Value of counterfeit notes detected in banking system reduced post demonetization
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF ECONOMIC AFFAIRS LOK SABHA UNSTARRED QUESTION NO. 3564 TO BE ANSWERED ON 08.08.2022 Circulation of Fake Currency 3564. DR. SANJEEV KUMAR SINGARI:...
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Requests to extend last date for submission of SDD Compliance Certificate
ICSI request SEBI To clarify on the anomalies arising out of the format of SDD Compliance Certificate; and Grant relaxation/ extension for submission of this certificate by 30 days. THE INSTITUTE OF C...
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FRC fined PwC over BT fraud audit failures
Financial Reporting Council Sanctions against PricewaterhouseCoopers LLP and audit partner This Press Notice concerns the outcome of an investigation into the relevant Statutory Auditor(s). The invest...