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The Reserve Bank of India (RBI), has issued a notification on the Roadmap for LIBOR (London Interbank Offered Rate). The RBI had, in August 2020, requested banks to frame a Board-approved plan, outlining an assessment of exposures linked to the…
The Reserve Bank of India (RBI) issued an advisory to banks and other RBI-regulated entities emphasizing the need for preparedness for the transition away from London Interbank Offered Rate (LIBOR). The Financial Conduct Authority (FCA), UK, in a press statement…
CBIC (Central Board of Indirect Taxes & Customs) has recently reviewed the implementation of Faceless Assessment and discussed the further measures required for expediting the pace of assessment and Customs clearance of imported goods. Accordingly, the Board via “Circular No.14…
The CBDT (Central Board of Direct Taxes) has passed order under section 119 of the Income-tax Act, 1961 with regards to “Processing of returns with refund claims under section 143(1) of the Income-tax Act, 1961 beyond the prescribed time limits…
CBDT (Central Board of Direct Taxes) has extended submission of the Forms 15CA & 15CB in manual format to the (AD) authorised dealers till 15th July, 2021. Earlier the taxpayers could submit Forms 15CA/15CB in manual format to the authorized…
The Statement of TDS (TDS Return) for quarter four of the Financial Year 2020-21, required to be furnished on or before 30th June 2021 may be furnished on or before 15th July 2021. The CBDT, through Notifications nos. 74/2021 & 75/2021 dated 25th June…
Hindustan Copper Limited (HCL) – (a Government of India Enterprise) under the Ministry of Mines, the Government of India declared its annual results for FY 2020-21. The Copper Miner to the Nation posted a net profit of ₹ 109.88 Crores.…
The Last date to update the IEC (Importer-Exporter code) is now extended till 31st July 2021. The DGFT (Directorate General of Foreign Trade) has mandated all IEC holders to update their Importer-Exporter Code (IEC) yearly between April to June. IECs…
The Last date to issue Form 16 is 31st July. Form 16, required to be furnished on or before 15th June 2021 may be furnished on or before 31st July 2021. Form 16 is a certificate of deduction of tax at source…
The CBDT (Central Board of Direct Taxes), via finance Act, 2021, has introduced new sections under the Income-tax Act, which contains provisions related to the TDS & TCS for non-filers of the income-tax returns and TDS on payment of a…