• LinkedIn
  • Instagram

GREEN TAX

26-01-2021

The Union Minister for Road Transport and Highways, Nitin Gadkari, has approved a proposal to levy a 'green tax' on old vehicles that are polluting the environment.

PENALTY ON STANDARD CHARTERED BANK

20-01-2021

The Reserve Bank on Thursday imposed a penalty of ₹2 crore on Standard Chartered Bank–India for delays in reporting of frauds to it.

FACELESS PENALTY SCHEME

14-01-2021

The tax department complimented its faceless or e-assessment programme with a faceless appeals scheme. Now the faceless penalty scheme has been added.

RBI'S FINANCIAL STABILITY REPORT

08-01-2021

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.

FOREX RESERVES APR-DEC 2020

02-01-2021

It makes an extraordinary situation of record forex reserves build-up when the economy is experiencing negative growth for the first time in 41 years and amid an unprecedented global pandemic.

INDIA'S MARKET CAPITALIZATION

26-12-2020

India climbed two notches in 2020 to take the  8th  spot among the world’s top stock markets. The country has crossed the $2.5 trillion market capitalization mark for the first time on 28 Dec 2020.

GST FAKE INVOICE FRAUD

20-12-2020

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.

BHARAT BOND ETF

14-12-2020

It is an Exchange Traded Fund (ETF) listed on NSE, which invests the money in public sector bonds.

PETROL PRICING IN INDIA

08-12-2020

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.

GST NOV'20 COLLECTIONS

02-12-2020

GST collections for the month of November have come in nearly unchanged month-on-month and rose 1.4% on an annual basis at ₹1,04,963 lakh crore

GDP TREND TILL Q2'20

26-11-2020

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.

APRIL-OCTOBER FISCAL DEFICIT

20-11-2020

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.

INCOME TAX UPDATE - HOMEBUYERS

14-11-2020

For primary residential real estate sales of up to ₹2 crore, the acceptable differential between circle rate and agreement value for the purpose of tax has been increased to 20% from 10%.

The offer will be applicable till 30 June 2021.

OPEN ENDED DEBT MF : LIQUID ASSETS

08-11-2020

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.

GST OCT'20

02-11-2020

GST collections for October grossed Rs 1.05 lakh crore, the highest so far in the financial year and 10% higher than collections in the same month last year.

COMPOUND INTEREST WAIVER

26-10-2020

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.

SET OFF AND CARRY FORWARD

20-10-2020

The Income tax law in India provides taxpayers some benefits of incurring losses. The law contains provisions for set-off and carry forward of losses.

INFLATION SEP'20

14-10-2020

Retail inflation continues to stay above the RBI’s upper-end target of 6% for the 6th straight month.

As per RBI’s 4th Bi-monthly MPC meeting, inflation is expected to ease to target by Q4 of 2020-21.

SOVEREIGN GOLD BOND SCHEME

08-10-2020

The latest tranche of sovereign gold bonds will open for subscription on 12 Oct 2020. They are government securities denominated in grams of gold issued by RBI on behalf of Government of India.

GST COLLECTION SEP'20

02-10-2020

The country's GST collections grew 4% to Rs 95,480 crore in September, indicating that economic recovery is in sight.

It is the highest since lockdown began in March.

ADVANCE TAX

28-09-2020

Every person whose estimated tax liability for the year is Rs. 10,000 or more, shall pay his tax in advance.

Read about all the provisions of advance tax and related interest penalties.

SIP FACILITY ON NPS

25-09-2020

SIP in NPS to be launched before Dussehra. 

The government is making continuous efforts to improve NPS and make it more attractive for investors.

DISCLOSURE OF DETAILS OF SHARE SALE 

22-09-2020

Taxpayers who have sold shares will have to fill up finer details of every share sale in their income tax return for Assessment Year 2020-21 for computing long-term capital gains tax liability.

AUGUST INFLATION

19-09-2020

Retail inflation eased marginally to 6.69% in August from 6.73% in July but stayed above the Reserve Bank of India's (RBI) upper-end target of 6% for the fifth straight month

ELECTRICITY CONSUMERS' RIGHTS

16-09-2020

The power ministry has prepared draft rules providing for rights of electricity consumers for the first time. The objective is to provide consumers better services and facilities.

INDIA CHINA TRADE DEFICIT

13-09-2020

The trade deficit between India and China in April-June this fiscal year fell to $5.48 billion as compared to $13.1 billion in the same period last year.

ALLOTMENT OF OVERSUBSCRIBED IPOs

10-09-2020

How does the allotment in an issue that is overwhelmingly subscribed, work?

ZOMATO IPO

07-09-2020

"Our teams are working hard to take us to IPO sometime in the first half of the next year" - Deepinder Goyal, CEO Zomato

GST COMPENSATION

04-09-2020

Entire GST compensation owed to states will be honoured : Union government

AGR DUES VERDICT

01-09-2020

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.

GST 41ST COUNCIL MEETING

28-08-2020

Estimated Compensation Cess for FY21 has been estimated at Rs 3 lakh crore while the estimated collection in the year has been pegged at Rs 65,000 cr., leaving a shortfall of Rs 2.35 lakh cr.

Centre places 2 options before states.

GST INTEREST

25-08-2020

The Central Board of Indirect Taxes and Customs (CBIC) notified 1 SEPTEMBER 2020 as the date from which interest would be charged on net tax liability.

EQUALISATION LEVY

22-08-2020

The Delhi High Court has ruled that Singapore-based MasterCard Asia Pacific Ltd has a permanent establishment here, and hence equalisation levy shall not be applicable.

DIVESTMENT

19-08-2020

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.

TRADE DEFICIT

16-08-2020

India posted a trade deficit of $4.83 billion in goods in July, after reporting its first trade surplus in over 18 years in the previous month.

TRANSPARENT TAXATION

13-08-2020

 Hon’ble Prime Minister of India has launched “Transparent Taxation-Honouring the Honest” programme digitally harped on three basic facets, Faceless Assessment, Faceless Appeal and Citizens Charter

FOREIGN EXCHANGE RESERVES

10-08-2020

Foreign Exchange Reserves in India averaged 235.8 USD Billion from 1998 until 2020, has reached an all time high of 534.5 USD Billion !!

INCOME TAX RETURN SCRUTINY

07-08-2020

Releasing the data of how many ITRs were sent for scrutiny each year, the I-T department said in the AY 2015-16, 0.71% of ITRs were sent for scrutiny while in 2018-19 the number dropped down to 0.25%.

REITs

04-08-2020

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 ?

GOLD INVESTMENTS

01-08-2020

Gold prices have crossed the ₹52,000 level for the first time. It is touching new highs every day and analysts say the rally in the precious metals is far from over.

NON PERFORMING ASSETS

29-07-2020

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.

FLIPKART WALMART DEAL

26-07-2020

Today, Flipkart group announced the launch of Flipkart Wholesale and acquisition of Walmart India.
It will be launched in August and will pilot services for the grocery and fashion categories.

DEDUCTION U/S 80C

23-07-2020

There are a number of tax saving avenues available under various sections of the Income Tax Act 1961 that help you save your tax. One that has gained wide popularity among taxpayers is Section 80C

IPO vs FPO

20-07-2020

The YES Bank has launched ₹ 15,000 cr FPO on 15 Jul 2020 to recover from the huge bad debt and generate funds from the share sale to enhance the capital base

Read about IPO and FPO

JIO PLATFORMS - AN INVESTMENT SPREE

17-07-2020

Qualcomm ventures, the investment arm of qualcomm inc, has committed to invest

₹ 730 crores for an equity stake of 0.15%

RECOURSE NON-RECOURSE LOANS

14-07-2020

Recourse and non-recourse loan arrangements allow lenders to lay claim to assets if borrowers default on their obligations and fail to repay their debts.

RIGHTS ISSUE

11-07-2020

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.

BONUS SHARES

08-07-2020

Bonus shares are shares distributed by a company to its current shareholders as fully paid shares free of charge.

HIKE IN FUEL PRICES

05-07-2020

The Oil Marketing Companies (OMCs) have increased petrol and diesel prices in India since 7 Jun 2020. Increase has been highest for any fortnight since fuel pricing was deregulated in 2002.

REVISED DEADLINES

02-07-2020

Extension of deadlines amidst COVID-19 pandemic.

V-SHAPED ECONOMIC RECOVERY

24-01-2021

The Reserve Bank of India (RBI), in its 'State of the Economy 2020' report, has said the shape of the economic recovery in 2021-22 will be v-shaped -- and the 'v' in it stands for "vaccine".

CHINA GDP

18-01-2021

China's economy grew at the slowest pace in more than four decades last year. The 2.3% expansion in year 2020 is the lowest figure since the Chinese economy embarked on major reforms in the 1970s.

PENALTY ON DEUTSCHE BANK

12-01-2021

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“.

E-PORTAL FOR TAX EVASION COMPLAINTS

06-01-2021

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.

GST COLLECTIONS DEC'20

30-12-2020

The GST revenues during December 2020 have been the highest since the introduction of GST and it is the first time that it has crossed ₹ 1.15 lakh crore.

ITR DEADLINES EXTENDED

24-12-2020

This is the third time that the government has extended the deadline to file a tax return.

GST RULES TIGHTENED

18-12-2020

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.

AUTO POPULATED GSTR 3B

12-12-2020

For ease of taxpayers, now the system will auto populate GSTR-3B (monthly) on the basis of details filed in GSTR-1 and auto-drafted ITC statement GSTR-2B from November 2020 tax period onwards.

QRMP SCHEME

06-12-2020

The government has launched the Quarterly Return filing & Monthly Payment of Taxes (QRMP) scheme for small taxpayers.

MIILIONAIRE'S TAX

30-11-2020

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.

SHARE IDEAS ON BUDGET

24-11-2020

General public in their individual capacity need to register on MyGov.in to submit their ideas for Budget 2021-22. The portal opened on 15 Nov and will remain open till 30 Nov.

INCOME TAX SLAB RATES

18-11-2020

Income Tax Slabs & Rates for Individual Tax Payers & HUF

MUHURAT TRADING SESSION

12-11-2020

Stock exchanges hold a special symbolic trading session on the occasion of Diwali, which is called Muhurat Trading.

This year it will be held from 6.15 pm to 7.15 pm on 14 Nov 2020.

OVERSEAS INVESTMENT LIMIT FOR MF

06-11-2020

To make sure the potential of international equities is well within the reach of Indian investors, the market regulator SEBI has enhanced the overseas investment limit for mutual funds.

LEAVE TRAVEL ALLOWANCE

30-10-2020

Under the scheme announced, to claim LTA exemption without travel , the employee has to buy goods and services with GST @ 12% or more from a registered seller.

TAXABILITY OF GOVERNMENT GRANTS

24-10-2020

Answer to a common question that emerges - Whether receipt of subsidy is taxable or tax free in the hands of the recipient? Whether it is income within the purview of income tax?

CLUBBING OF INCOME

18-10-2020

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.

DELISTING OF SHARES

12-10-2020

Delisting refers to removal of listed stocks from stock exchange.

How does delisting work, and why did Vedanta fail at it ?

AT-1 BONDS

06-10-2020

SEBI has tightened its regulations of AT-1 bonds and ensured that these risky instruments are less accessible to retail investors.. These will be applicable from 12 Oct 2020.

30 DAYS GRACE PERIOD FOR E-INVOICING

30-09-2020

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.

PRIVATE PLACEMENT OF SECURITIES

27-09-2020

SEBI has come out with a standardized timeline for listing securities on private placement.

It shall come in force from 1 December 2020.

TCS ON SALE OG GOODS

24-09-2020

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.

INCOME TAX IMPLICATIONS ON GIFTS

21-09-2020

Gifting is one of the many ways to express love and affection. It is a custom to gift your closed ones during occasions especially in India.

Let us understand its tax implications.

SEBI MODIFIES NAV RULES FOR MF

18-09-2020

SEBI stated that MF investors would be able to avail the closing net asset value (NAV) of a scheme on the day their funds are realised. 

The new ruling would come into effect from 1 January 2021.

IBC AMENDMENT BILL 2020

15-09-2020

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. 

HOW IS A BILL PASSED IN INDIA

12-09-2020

Any Acts is introduced into the Indian Constitution only after the draft bills are passed by the parliament.

How are these passed in the Indian Parliament to become an act?

OVERSUBSCRIBED IPOs

09-09-2020

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.

TCS ON FOREIGN REMITTANCES

06-09-2020

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​​

GREY MARKET

03-09-2020

Happiest Minds Technologies has opened its Rs 702 crore IPO for 3-day bidding today. It was trading at more than 60% premium over issue price in the grey market.

GST COLLECTION

30-08-2020

GST collections for August stood at Rs 86,449 crore, the collections were nearly 12% lower than the same month last year, and more than 1% down compared to July 2020.

FACEBOOK NEWS

27-08-2020

Facebook News is its dedicated news service which was launched in the US last year. The company is planning to expand the platform to other countries including India, UK, Germany, France and Brazil.

OPERATION TWIST

24-08-2020

RBI to conduct another tranche of Operation Twist worth of Rs 20,000 crores over next 2 weeks to cool down the yields.

CITIBANK'S BLUNDER

21-08-2020

Citigroup transfers $900 million in 'clerical error'. Yet to get the money back.

NIFTY 50

18-08-2020

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.

UPDATE ON AGR 

15-08-2020

We would have to wait for the AGR resolution a bit longer. The Supreme Court observed on 10 Aug that the Government must draw up a plan to recover AGR related dues from bankrupt telecom operators.

QUALIFIED INSTITUTIONAL PLACEMENT

12-08-2020

HDFC, Axis Bank and ICICI Bank, chose the QIP route to raise Rs 35,000 crore, cumulatively, to meet their needs during such stressful times of the COVID-19 pandemic.

ONE TIME LOAN RESTRUCTURING

09-08-2020

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.

GST REVENUE COLLECTION

06-08-2020

₹87,422 crore gross GST revenue collected in July, which is 86% of the GST revenues in the same month last year.

TAXATION ON TRADING ACTIVITIES

03-08-2020

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.

LEASE MODIFICATION (IND AS 116) 

31-07-2020

In the wake of the pandemic, many lessors have extended rent concessions to lessees. The amendment provides relief to lessees from the Lease Modification clause of the Ind AS 116.