FAQs issued by I.T. dept. on UDIN

FAQs issued by I.T. dept. on UDIN

After noticing the fake certifications by Non-CAs misrepresenting themselves as Chartered Accountants which deceived the authorities and stakeholders, the Institute of Chartered Accountants of...
SEBI

SEBI: Additional Payment Methods like ASBA for Payment of Balance Money in Calls for...

The Securities and Exchange Board of India (SEBI) on Tuesday this week has introduced additional payment mechanism, including Application Supported by Blocked Amount (ASBA),...
Central Govt. extends the Emergency Credit Line Guarantee Scheme (ECGLS) to November 30, 2020

Central Govt. extends the Emergency Credit Line Guarantee Scheme (ECGLS) to November 30, 2020

On Monday this week, the Government of India has announced the extension of the Emergency Credit Line Guarantee Scheme (ECLGS) for MSMEs by one...
CBDT designates Court of Munsiff No. 3, Kamrup (M), Guwahati as Special Court for Assam, Nagaland, Mizoram, and Arunachal Pradesh U/s. 280A of Income-tax Act, 1961

CBDT designates Court of Munsiff No. 3, Kamrup (M), Guwahati as Special Court for...

On the date 28th October 2020, the Ministry of Finance has issued a notification which states that the Central Board of Direct Taxes (CBDT)...
MHA directs NGOs seeking Foreign Donations to open FCRA Account at the SBI’s New Delhi branch.

MHA directs NGOs seeking Foreign Donations to open FCRA Account at the SBI’s New...

The Ministry of Home Affairs (MHA) has directed all NGOs registered under the Foreign Contribution (Regulation) Act (FCRA), 2010, to open or maintain an...
Madras HC supports legal validity of RBI’s circular on Additional Tier 1 Capital Bonds in Yes Bank Case

Madras HC supports legal validity of RBI’s circular on Additional Tier 1 Capital Bonds...

The Madras High Court has supported the legal validity of the Reserve Bank of India’s (RBI) circular on additional Tier 1 Capital bonds while...
CG appoints three external members to RBI’s Monetary Policy Committee

CG appoints three external members to RBI’s Monetary Policy Committee

The Government of India has appointed three economists- Ashima Goyal, professor, Indira Gandhi Institute of Development Research, Jayanth R. Varma, professor, Indian Institute of...
MCA announces extension of Fresh Start Scheme and the LLP Settlement Scheme, 2020 till 31st December

MCA announces extension of Fresh Start Scheme and the LLP Settlement Scheme, 2020 till...

Ministry of Corporate Affairs (MCA) has announced the extension of the Companies Fresh Start Scheme, 2020 and the LLP Settlement Scheme, 2020 till 31st December...
MCA: Extends Time for conducting EGMs through Video Conferencing

MCA: Extends Time for conducting EGMs through Video Conferencing

The time for conducting Extra-Ordinary General Meetings through Video Conferencing has extended by the Ministry of Corporate Affairs (MCA) till the date of 31st...
MCA notifies the Insolvency and Bankruptcy (Application to Adjudicating Authority) (Amendment) Rules, 2020

MCA notifies the Insolvency and Bankruptcy (Application to Adjudicating Authority) (Amendment) Rules, 2020

The Ministry of Corporate Affairs (MCA) has notified on September 24, 2020, the new Insolvency and Bankruptcy (Application to Adjudicating Authority) (Amendment) Rules, 2020...
IRDAI approves insurance firms to conduct video-based KYC

IRDAI approves insurance firms to conduct video-based KYC

The Insurance Regulatory and Development Authority of India (IRDAI) on 21st September 2020 has allowed life and general insurance companies to use Video-Based Identification...
SEBI clarifies on Collection and Reporting of Margins by Trading Member (TM) / Clearing Member (CM) in Cash Segment.

SEBI clarifies on Collection and Reporting of Margins by Trading Member (TM) / Clearing...

On September 15, 2020, the Securities Exchange Board of India (SEBI) issued a circular for clarifying the issue related to the Collection and Reporting...
Ministry of Commerce and Industry notifies Streamlining of UQCs in DGFT’s EDI system & Customs’ ICEGATE

Ministry of Commerce and Industry notifies Streamlining of UQCs in DGFT’s EDI system &...

The Government of India and Ministry of Commerce and Industry released a notification for the streamlining of Unit Quantity Codes (UQCs) in the Director-General...
RBI ordered banks for Automation of Income Recognition, Asset Classification and Provisioning processes

RBI ordered banks for Automation of Income Recognition, Asset Classification and Provisioning processes

All the banks were directed by the Reserve Bank of India to introduce an automated IT-based system for asset classification and provisioning calculation and...
Relaxation provided to LLPs/Companies during the lockdown period by MCA

Relaxation provided to LLPs/Companies during the lockdown period by MCA

On September 15, 2020, the Union Minister of State for Finance & Corporate Affairs, Shri Anurag Singh Thakur stated about the various steps taken...

MCA: Extension of the last date of filing Cost Audit Report announced.

The last date of filing of CRA-4 (form for filing of the cost audit report) for FY 2019-20 under the Companies Act, 2013 has...
Priority Sector Lending Guidelines got revised by RBI

Priority Sector Lending Guidelines got revised by RBI

The Priority Section Lending (PSL) Guidelines got revised by the Reserve Bank of India (RBI). A thorough study was conducted about the priority section...
MCA relaxed the Deposit Norms for Startup Companies

MCA relaxed the Deposit Norms for Startup Companies

In accordance to the Covid-19 pandemic situation the Ministry of Corporate Affairs (MCA) on September 7 ,2020, amended the depository norms for the startup...
MCA: Extension of time given to hold AGM for FY 2019-20

MCA: Extension of time given to hold AGM for FY 2019-20

On September 8, 2020, the Ministry of Corporate Affairs (MCA) gave a major sense of relief to about 12 lakhs Companies by extending the...
SEBI: Issued Circular on Provision regarding Segregation of Portfolios in the Covid-19 pandemic state.

SEBI: Issued Circular on Provision regarding Segregation of Portfolios in the Covid-19 pandemic state

Because of the Covid-19 pandemic situation which the country is facing, the Securities Exchange Board of India (SEBI) released a circular regarding the Provisions...
MCA: Released Notification for Companies are not required to attach extract of Annual Return.

MCA: Released Notification for Companies are not required to attach extract of Annual Return.

Ministry of Corporate Affairs released a notification on August 28, 2020, for making amendments in the Companies (Management and Administration) Rules, 2014 which should...
Ind AS's New Compendium released by ICAI.

Ind AS’s New Compendium released by ICAI.

The Accounting Standards Board of the Institute of Chartered Accountants of India (ICAI) released a notification on 25th August 2020 which notified some critical...
Priority Sector Lending Guidelines got revised by RBI

RBI: Extension for 3 months given to UCBs for Submission of Returns.

Reserve Bank of India released a notification on August 26, 2020, which stated that the date for Submission of returns by the primary (urban)...
M.C.A. Amends Schedule VII of Companies Act, 2013.

M.C.A. Amends Schedule VII of Companies Act, 2013.

On Monday the Ministry of Corporate Affairs (MCA) amended the Schedule VII of Companies Act, 2013 which included that more entities engaged in research...
RBI: Clarifies New Definitions of Micro, Small and Medium Enterprises

RBI: Clarifies New Definitions of Micro, Small and Medium Enterprises

The Reserve Bank of India (R.B.I.) on August 21, 2020, released a notification to clarify some issues for which IBA and bank's representation approached...

CBIC: Deferred Import Duty payment without Intimation Benefit is available for Eligible Importers

On 19th August 2020, the Central Board of Indirect Taxes And Customs (CBIC) released a notification No.79/2020-Customs (N.T.) which notified the Deferred Payment of...
UIDAI's Aadhar Authentication Service undertaken by 24 Insurance Companies notifies Govt.

UIDAI’s Aadhar Authentication Service undertaken by 24 Insurance Companies notifies Govt.

On Wednesday the Central Government released a notification which notified the reporting entities to comply with standards of privacy and security under the Aadhaar...
Framework for Authorisation of Pan-India Umbrella Entity for Retail Payments released by RBI

Framework for Authorisation of Pan-India Umbrella Entity for Retail Payments released by RBI

Reserve Bank Of India (RBI) on Tuesday published the framework for authorisation of pan-India Umbrella Entity for Retail Payment Systems. RBI in its draft...
RBI ordered banks for Automation of Income Recognition, Asset Classification and Provisioning processes

RBI releases a Review of Guidelines for Core Investment Companies.

Reserve Bank of India (RBI) on Thursday released a Review of Guidelines for Core Investment Companies which talks about risk management, corporate governance and...
Updates that Matter (UTM) by Charteredonline

Updates that Matter (UTM – No. 42)

We are pleased to update you vide UTM’s (Key Update Alerts). Please find hereunder our “Updates that Matter (UTM # No. 42)”, A. GST –Guajarat...
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