Category: Banking and Finance

સુરતમાં વ્યાજખોરોએ કરાવ્યું યુવકનું અપહરણ અને માર્યો ઢોર માર- અચાનક ઘટના સ્થળે પોલીસ પહોચી અને…

By | 25th February, 2021

વરાછા મીનીબજાર વિસ્તારમાં રહેતા હીરાના સરીન મશીનના રિપેરીંગના કારીગરને  મિત્રના કહેવાથી તેના મિત્રને વ્યાજે રૂપિયા અપાવાનું ભારે પડ્યું છે. મિત્રના મિત્રઍ વ્યાજ નહી ચુકવતા ફાયનાન્સરે ગઈકાલે  બપોરે તેનું પુણાગામ બસ સ્ટેશન પાસેથી અપહરણ કરી ભૈયાનગર ખાતે આવેલી તેની ફાયનાન્સની ઓફિસમાં ગોધી ઢોર…Read More »

No proposal to raise excise duty on cigarettes, ‘bidis’ and smokeless tobacco, says Centre

By | 10th February, 2021

The Centre informed the Rajya Sabha on Tuesday that there was no proposal to raise the excise duty on cigarettes, ‘bidis’ and smokeless tobacco. In a written reply to a question, Minister of State for Finance Anurag Thakur said that there was…Read More »

Revenue Secy: Keep in mind exemption limit while complaining about few taxpayers

By | 10th February, 2021

That very few people pay taxes in India is a topic of unending debate. Commenting on the same, Revenue Secretary Ajay Bhushan Pandey says that when people say 3-4% of population pay taxes in India, they are necessarily talking about income tax…Read More »

NPCI dismisses reports of charges on UPI transactions

By | 2nd January, 2021

National Payments Corporation of India (NPCI) on Friday said transaction through Unified Payment Interface platform would continue to be free. Reports that UPI transactions will be charged from January 1, 2021 are incorrect, NPCI said in a statement. NPCI has urged all…Read More »

Thank you for 25 glorious years: HDFC Bank bids adieu to MD and CEO Aditya Puri

By | 24th October, 2020

Sashidhar Jagdishan will replace Aditya Puri as Managing Director and Chief Executive Officer of HDFC Bank on October 27. A massive flyer put up at the bank’s headquarter in Mumbai reads: “Thank you, Mr Aditya Puri, for 25 glorious years. To express…Read More »

CNBC-TV18: GST Council fails to reach a consensus on issue of borrowing to make up for compensation shortfall, next Meeting on October 12, 2020

By | 5th October, 2020

As per the recent tweet of CNBC-TV18, After an almost 8 hour-long meeting, the GST Council fails to reach a consensus on the issue of borrowing to make up for the compensation shortfall. Next Meeting on October 12, 2020. Source: https://twitter.com/ShereenBhan/status/1313108932101959682

Finance Secretary: From Jan 01, 2021 Taxpayers with annual turnover less than Rs. 5 Crore need not file monthly returns, quarterly returns will do

By | 5th October, 2020

As per the recent tweet of PIB Maharastra, From Jan 01, 2021 Taxpayers with annual turnover less than Rs. 5 Crore need not file monthly returns (GSTR-3B and GSTR-1); quarterly returns will do. Source: https://twitter.com/PIBMumbai/status/1313118064251031553

From Credit Card to Income Tax to Driving License: 10 Mejor rules changing from 1 October, 2020 that one must know.

By | 1st October, 2020

From Credit Card to Income Tax to Driving License: 10 Mejor rules changing from 1 October, 2020 that one must know…. Motor vehicle rules, income tax, health insurance, credit and debit card rules are changing from tomorrow. So, it is important that…Read More »

CAG raps Centre over non-utilisation of cesses, levies for specified purposes

By | 24th September, 2020

The Comptroller and Auditor General (CAG) has come down on the utilisation of cess collections by the Centre. Also, it has questioned the utilisation of Integrated Goods and Services Tax (IGST) revenues. According to the CAG’s report on the accounts of the…Read More »

Kerala GST Department has Issued Instructions w.r.t. Settlement of Arrears under the Amnesty Scheme, 2020

By | 24th September, 2020

The following amendments have been made in the earlier instructions issued based on Kerala Finance Bill, 2020 vide Circular No. 9/2020 dated September 15th, 2020 as under:- Option to Avail Amnesty Scheme should be made on or before November 30th, 2020 Last…Read More »

Finance Ministry makes further amendments in the Income Tax Rules 1962

By | 4th July, 2020

Ministry of Finance (“MOF”) vide Notification dated July 03, 2020, makes further amendment in the Income Tax Rules, 1962. The following are the amendment made in the rules are as under:- 1. In the Income-tax Rules, 1962 (hereinafter referred to as the…Read More »

Apex trade body demands audit of GSTN portal

By | 4th July, 2020

The Confederation of West Bengal Trade Association (CWBTA), the apex body of traders in the state, has demanded an audit of the GSTN (Goods and Services Tax Network) portal by a committee comprising IT professionals, taxpayers, and government officials. It has also…Read More »

GST : No Provisional attachment of bank account if no proceeding pending against assessee under the law

By | 3rd June, 2020

2019 TaxPub(GST) 1317 (Mad-HC) IN THE MADRAS HIGH COURT RAVICHANDRABAABU, J. V.N. Mehta & Co. v. Asstt. Commr. W.P. No. 26187 of 2019 & W.M.P. Nos. 25551, 25552 & 25553 of 2019 8 November, 2019 Petition allowed. Petitioner by: P.Rajkumar Respondents by: M.Santharaman Senior…Read More »

Stamp duty and registration charges for execution of lease deed is a Capital or revenue expenditure ?

By | 3rd June, 2020

  Stamp duty and registration charges for execution of lease deed is a Capital or revenue expenditure ? Short Overview: Stamp duty and registration charges for execution of lease deed did not involve any element of premium. It was incurred only to draw…Read More »

Moody’s downgrades SBI, HDFC Bank amid bleak outlook for Indian banks

By | 2nd June, 2020

Seven other domestic banks saw either their rating or their outlook being negatively revised by Moody’s on Tuesday. The rating agency announced a rating action on 11 banks. Apart from SBI and HDFC Bank, the nine other banks whose ratings faced an…Read More »

IDFC First Bank CEO takes 30% pay cut, 10% for senior management

By | 27th May, 2020

The bank said it has honoured all offers that were made to new hires before the pandemic including lateral and 550 management trainees. The bank has paid 100% of the FY20 variable pay to 78.2% of its employees IDFC First Bank Ltd…Read More »

Lendingkart Lays Off 500 Employees Or 50% Of Its Workforce

By | 23rd May, 2020

The coronavirus epidemic wreaked havoc on commercial operations and caused panic in industries. Reports of corporate layoffs are coming thick and fast. Zomato, Bounce, Curefit, and Treebo are just a few Indian startups that have allowed their workforce to grow enough to…Read More »

Indiabulls Housing Finance fires 2000 employees over WhatsApp calls

By | 20th May, 2020

Indiabulls Housing Finance sacked more than 2,000 employees in the last two weeks. ETBFSI learnt that company fired them over WhatsApp calls seeking resignations. The company also threatened them to terminate them if they do not resign.Those that the company did sack…Read More »