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Guidance has been provided over proposal submission, compliance to be made, stages of approval, regulatory requirement, post amalgamation requirement, disclosure to be made post amalgamation in the annual report and many more.
Section 194N has imposed a TDS liability on Payer when any cash payment exceeding Rs. 1 crore is made (individually or in aggregate) during the financial year to Payee.
RBI on 27.04.2021 has issued guidelines for the appointment of Statutory Central Auditors of commercial banks (excluding RRB), Urban cooperative banks (UCBs) and NBFCs including Housing Finance Companies.
RBI has made a comprehensive review of the framework for governance in commercial banks. Instructions regarding the chair of the board, composition of its committee, age, tenure and remuneration of directors/whole time directors have been issued.
Since the applicability of the Finance Act 2020, along with Finance Act 2021, there has been some complexity attached to the new reforms. In this article, an effort has been made to simplify such complex tax rates.
There are 1577 cooperative banks in India as 33 State cooperative banks, 1482 Urban cooperative banks, 62 multi-state cooperative banks. Understanding why an amendment is brought in the Banking Regulation Act in the citation of cooperative banks.
RBI has directed the banks for putting in place the system for the automation of NPA, latest by 30th June 2021. Read some of the highlights of the circulars here.
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
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