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2023 was a year that kept the Indian finance and banking sector on its toes. From navigating global shocks to witnessing groundbreaking domestic developments, the year was a whirlwind of challenges and triumphs. Here’s a deeper dive into 10 key…
The last time you went shopping for groceries, did you notice that the size of your favorite chocolate bar has reduced? Or did you notice that now there are a lesser number of biscuits in your favorite biscuit pack? Usually,…
It shouldn’t be surprising to know that currently, the world’s most powerful country, the USA, is also facing an economic crisis. Education, healthcare, loans, etc, everything has become expensive in the past few years. And it is not taking any…
One of the key pending reforms in India is Privatization of Public sector banks (PSBs). However, the authors of an essay in the most recent RBI bulletin cautioned against big-bang privatization of PSBs, urging the government of India to follow…
If you are familiar with e-commerce apps like Amazon, Paytm, Flipkart, etc. then you must have been familiar with the buzz around the term tokenisation. In the course of the last few years, RBI as been deeply concerned with making…
The Importer Exporter Code (IEC) is a key business identification number, IEC Number is a unique 10-digit alphanumeric code issued by the DGFT (Director General of Foreign Trade) on the basis of the PAN of an entity. The IEC (Importer-Exporter…
The Last date to update the IEC (Importer-Exporter code) is 30th June. DGFT (Directorate General of Foreign Trade) has mandated all IEC holders to update their Importer-Exporter Code (IEC) yearly between April to June. IECs not updated within this prescribed…
CBDT (Central Board of Direct Taxes) has issued a functionality to verify whether the vendors have filed a tax return for compliance of Section 206AB and Section 206CCA. The decision has been welcomed by the stakeholders. Section 206AB & section…
The Income-tax department has come up with a new e-Filing portal (ITR e-filing 2.0) which is effective from 7th Jun, 2021. Under the new Income tax portal, downloading Form 26AS has also been simplified. The New Income-tax e-Filing portal will be taxpayer-friendly integrated with immediate processing of Income Tax Returns (ITRs) so…
The Income-tax department has come up with a new e-Filing portal (ITR e-filing 2.0) which has been effective from 7th Jun, 2021. Under the new ITR e-filing 2.0 portal, you can authorise another person to act on your behalf. For the department, it is important to know…