Skip to main content

Updates of the day....

By
Updates Of the Day
1.Online Applications are invited from the CA firms/ LLPs who desire to be empanelled with CAG for appointment as auditors of government Co/ Corporations for the year 2016-17.www.saiindia.gov.in from 01.01.2016 to 15.02.2016.
2.RBI has issued Guidelines on trading of Currency Futures and Exchange Traded Currency Options in Recognized Stock Exchanges and Introduction of Cross-Currency Futures and Exchange Traded Option Contracts.
3.Versions of e-Forms GNL-4, INC-28, CRA-2, INC-2, ADJ, FC-1, AOC4-CFS and FC-4 are modified w.e.f. 09.12.2015.
4.Collection of cheques during enforcement survey before finalizing assessment is illegal. The amounts collected in advance were directed to be refunded. Order passed by Shri Bansh Raj, Add Commissioner DVAT.
5.Online rectification of TDS made simplified through new facility of Pre-Fill for up-dating TDS details while rectification .Press release dated 10.12.2015.
6.Interest expenditure Sec.36(1)(iii) on loans diverted to sister concerns and directors can be allowed as business expenditure explained Insofar as loans to the sister concern / subsidiary company are concerned. [Hero Cycles (P) Ltd vs. CIT (Supreme Court)].
7.CBDT has simplified the process of online rectification of incorrect TDS details filed in the Income Tax Return.
8.Relief for FIIs as income-tax department clarifies rules on defective returns under Income Tax Act.
9.Monetary limits for filing of appeal by department revised with retrospective effect: now before ITAT 10 lacs, High Court 20 lacs and Supreme Court 25 lacs, if tax effect is more. Circular No.21/2015 dated 10/12/2015.
For more News Like us on https://www.facebook.com/caonlineofficial Or Subscribe on mail visit : www.caonline.in

Comments

Post a Comment

Popular posts from this blog

Credit card spending growth declines on RBI gaze, stress build-up

By
  Credit card spends have further slowed down to 16.6 per cent in the current financial year (FY25), following the Reserve Bank of India’s tightening of unsecured lending norms and rising delinquencies, and increased stress in the portfolio.Typically, during the festival season (September–December), credit card spends peak as several credit card-issuing banks offer discounts and cashbacks on e-commerce and other platforms. This is a reversal of trend in the past three financial years stretching to FY21 due to RBI’s restrictions.In the previous financial year (FY24), credit card spends rose by 27.8 per cent, but were low compared to FY23 which surged by 47.5 per cent. In FY22, the spending increased 54.1 per cent, according to data compiled by Macquarie Research.ICICI Bank recorded 4.4 per cent gross credit losses in its FY24 credit card portfolio as against 3.2 per cent year-on-year. SBI Cards’ credit losses in the segment stood at 7.4 per cent in FY24 and 6.2 per cent in FY23, the...
Post a Comment
Read more

SFBs should be vigilant, proactive to mitigate risks: RBI deputy guv

By
  The Reserve Bank of India’s Deputy Governor Swaminathan J on Friday instructed the directors of small finance banks (SFBs) to be vigilant and proactive in identifying emerging risks in the sector.Speaking at a conference for directors on the boards of SFBs, Swaminathan highlighted the role of governance in guiding SFBs towards sustainable growth with stability. He also emphasised the importance of sustainable business models.Additionally, he highlighted the need for strengthening cybersecurity to protect the entities against digital threats and urged for a stronger focus on financial inclusion, customer service, and grievance redressal to ensure a broader reach of banking services.Executive Directors S C Murmu, Rohit Jain, and R L K Rao, along with other senior officials representing the Supervision, Regulation, and Enforcement Departments of the RBI, also participated in the conference.   -  Business Standard  30 th  September, 2024
Post a Comment
Read more

Brigade Hotel Ventures files draft papers with Sebi for Rs 900 crore IPO

By
  Brigade Hotel Ventures Ltd, owner and developer of hotels in South India, has filed draft papers with capital markets regulator Sebi to raise Rs 900 crore through an initial public offering (IPO).The proposed IPO is entirely a fresh issue of equity shares with no Offer-for-Sale (OFS) component, according to the draft red herring prospectus (DRHP).Proceeds from the issue to the tune of Rs 481 crore will go towards payment of debt, Rs 412 crore will be allocated to the company and Rs 69 crore to its material subsidiary, SRP Prosperita Hotel Ventures Ltd.Additionally, Rs 107.52 crore will be used to purchase an undivided share of land from the Promoter, BEL, and the remaining funds will support acquisitions, other strategic initiatives, and general corporate purposes.The company may raise up to Rs 180 crore through a Pre-IPO Placement.   If the placement is undertaken, the issue size will be reduced.Brigade Hotel Ventures Ltd is a wholly-owned subsidiary of Brigade Enterprises ...
Post a Comment
Read more