As per the RBI’s 22nd issue of the FSR, the GNPA ratio of all SCBs may increase from 7.5% in Sep 2020 to 13.5% by Sep 2021 under the baseline scenario; the ratio may escalate to 14.8% under a severe stress scenario.
In the last one month, the DGGSTI across the country has arrested over 100 people and booked 3,479 entities in 1,161 cases for illegally availing or passing on input tax credit (ITC) by using fake GST invoices.
Petrol and diesel prices were hiked sharply on Monday as global rates continue to rise. Petrol and diesel rates are now at the highest level since September 2018. Let's understand the petrol pricing in India and reasons of the increasing trend.
The Indian economy appeared to be pulling out of a record slump caused by the covid-induced lockdown, with output shrinking at a slower pace of 7.5% in Q2, but the two straight quarters of contraction means the economy has entered a recession.
The fiscal deficit for April-October touched a massive ₹9.53 trillion, accounting for 119.7% of the full year’s budgeted target as tax collections remained under pressure because of the covid-19 crisis.
SEBI has required open ended debt mutual funds to hold at least 10% of their corpus in liquid assets and has mandated them to conduct stress test. The rules for liquid holdings will be effective from 1 Feb 2021 and for stress testing from 1 Dec 2020.
Following the order of the Supreme Court, the Centre has announced the scheme to ‘grant ex-gratia payment of difference between compound and simple interest to borrowers of specified loan accounts’ from 1 Mar to 31 Aug.
Telcos get 10 years to clear AGR dues; should pay 10% by 31 Mar 2021. It has exempted Airtel and Reliance Jio from paying around 40,000 crores of past dues for using spectrum of telecom companies, that are now bankrupt.
Almost five months into the financial year, DIPAM is yet to open its account, although it is chasing a record disinvestment target of Rs 2.1 lakh crore, raising doubts over its ability to complete transactions.
The IPO of Mindspace Business Parks REIT received a robust response and was subscribed nearly 13 times. This is the second REIT to hit the IPO market after Embassy Office Park REIT. But what is a REIT ?
As per the 21st issue of fsr by RBI, Gross NPA ratio of all SCBs may increase from 8.5% in March 2020 to 12.5% by March 2021 under the baseline scenario, and to 14.7% under a very severely stressed scenario.
PVR fixes the rights issue price at Rs 784 per share, to allot 7 rights shares for every 94 held by eligible shareholders as on the record date i.e. 10 Jul. The co's 300 crore rights issue will open on 17 Jul and close on 31 Jul.
Reserve Bank of India imposed a monetary penalty of ₹2 crore on Deutsche Bank AG for for non-compliance with certain provisions of directions issued by RBI contained in the “Reserve Bank of India (Interest Rate on Deposits) Directions, 2016“.
CBDT has launched a dedicated e-portal on the e-filing website of the Department to receive and process complaints of tax evasion, foreign undisclosed assets as well as complaints regarding benami properties.
The Central Goods and Services Tax (Fourteenth Amendment) Rules, 2020, have tightened the norms to seek GST registration and ensure only genuine companies are registered. These rules will be in force from 1 Jan 2021.
Under the scheme levied by Argentina, people with declared assets greater than 200 million pesos will pay a progressive rate of up to 3.5% on wealth in Argentina and up to 5.25% on wealth outside the country.
In certain cases, income of other person is included in the income of the taxpayer and in such a case he will be liable to pay tax in respect of his income as well as income of other person. Such situation is called clubbing of income.
The compulsory e-invoicing of B2B transactions of taxpayers with more than ₹500 crore sales to kick in from 1 October 2020. A further 30-day grace period has been given for those not yet ready for GST e-invoice.
Sellers having ₹10 crore revenue in the previous year need to collect income tax at source at the rate of 0.1% on receipt of sale consideration above ₹50 lakh. The tax is applicable to the amount above ₹50 lakh.
The Bill was tabled by Finance Minister Nirmala Sitharaman amends the Insolvency and Bankruptcy Code 2016 which provides a time-bound process for resolving insolvency in companies and among individuals.
The ₹702-crore initial public offering (IPO) of Happiest Minds Technologies Pvt. Ltd closed with overwhelming investor response and was subscribed 150.98 times, making it the 8th biggest IPO of the last decade.
Any amount sent abroad to buy foreign tour packages, and every other foreign remittance made above ₹7 lakh, will attract TCS beginning 1 October unless tax is already deducted at source (TDS) on that amount
NIFTY 50 is NSE's diversified index comprising stocks from top 50 Indian companies across 14 sectors. It tracks the market performance of the largest cap companies & hence, broadly reflects the Indian economy.
The moratorium will expire at the end of Aug'20. Borrowers who had been repaying regularly till March 2020 can have a one-time restructuring of their loan through a framework which will be decided by the bank.
With the rise in online trading avenues as well as investor awareness, a larger number of people are now channeling their investments into the financial markets. Hence, it is important to understand its tax implications.