CAclubindia News

GST Compensation dues paid to all States for FY 2020-21 and 2021-22

19 July 2021 at 22:06

GST compensation of Rs. 91,000 crore has been released to all States/ UTs to partly meet the compensation payable for the period April’20 to March’21 as the amount in GST Compensation Fund was not adequate to meet the full compensation requirement.

Posted in GST | 2460 Views

Nearly 72% of financial transactions of PSBs done through digital channels

19 July 2021 at 21:59

Minister of State for Finance - Dr Bhagwat Kisanrao Karad in a written reply to a question in the Lok Sabha stated that the share of financial transactions undertaken through home and mobile channels increased from 29% in FY 2018-19 to 76% in FY 2020-21.

Posted in Others | 1077 Views

GoI provides Financial assistance for developing COVID-19 vaccine

19 July 2021 at 21:54

Shri Pankaj Chaudhary stated that financial support was provided to nearly nine private industries for the development of vaccines for COVID-19, whereby an amount of Rs. 489 crore has been allocated and an amount of Rs. 148 crore has been disbursed.

Posted in Others | 1236 Views

GoI provides funds to the state governments for its development

19 July 2021 at 21:50

GoI provided funds to the State Governments under the Centrally Sponsored Schemes, Central Sector Schemes, Finance Commission grants and Other Grants /Loans/Transfers as per the guidelines of the respective Scheme.

Posted in Others | 1227 Views

Tax exemption to ameliorate stress due to COVID-19

19 July 2021 at 21:45

The Government has decided to provide income tax exemption to the amount received by a taxpayer for medical treatment from an employer or from any person for treatment of COVID-19 during the financial year 2019-20 and subsequent years.

Posted in Income Tax | 3276 Views

Bad Bank launched for stressed assets as a measure to clean up bank books

19 July 2021 at 21:42

The Government has launched a Bad Bank with all the regulatory approvals in place. This was stated by Minister of State for Finance Dr Bhagwat Kisanrao Karad in a written reply to a question in the Lok Sabha.

Posted in Others | 1023 Views

36,191 new companies incorporated from April to June 2021

19 July 2021 at 21:38

The number of new companies incorporated in the Country under the provisions of the Companies Act, 2013 from April 2021 to June 2021 is 36,191 as compared to 18,968 in the corresponding period of last year which is an increase of 17,223 Companies.

Posted in Corporate Law | 1854 Views

Rs 21,231 crore spent by 21,349 companies on CSR funds in 2019-20

19 July 2021 at 21:32

Section 135 of the Companies Act, 2013 mandates every company having a net worth of Rs. 500 crore or more, or turnover of Rs. 1000 crore or more, or net profit of Rs. 5 crore or more during the immediately preceding FY to undertake CSR activities.

Posted in Corporate Law | 1281 Views

ICMAI to conduct Mock Test for CAT Foundation Course

19 July 2021 at 06:43

ICMAI is conducting a Mock Test for students of the CAT Foundation Course, on 19th July 2021 from 10 am to 11 am. Test of Paper 1 will be conducted from 10 am to 10:30 am, while that of Paper 2 will be conducted from 10:30 am to 11 am.

Posted in Students | 2565 Views

Memorandum on the problems being faced in relation to New Income Tax Portal

17 July 2021 at 07:35

The District Taxation Bar Association (Direct Taxes), Ludhiana has written a Memorandum to FM Nirmala Sitharaman wherein, they have highlighted 22 problems that are being faced by them and the taxpayers at large, on the New Income Tax Portal.

Posted in Income Tax | 13 comments | 14457 Views