CAclubindia News

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 | 1398 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 | 2601 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 | 14592 Views

ICAI issues ED of revised IFRS Practice Statement - Management Commentary

17 July 2021 at 07:29

ICAI has released the Exposure Draft of revised IFRS Practice Statement - Management Commentary. The purpose of this ED is to obtain feedback on the IASB’s proposals. Comments on the same may be sent to ICAI by 1st October 2021.

Posted in Professional Resource | 2259 Views

CBDT issues refunds to more than 19.59 lakh taxpayers between 1st April to 12th July, 2021

15 July 2021 at 19:47

Income tax refunds of Rs. 11,731 crore have been issued in 18,52,540 cases & corporate tax refunds of Rs. 27,220 crore have been issued in 1,06,433 cases.

Posted in Income Tax | 1 comments | 1611 Views

Centre releases Rs 75,000 crore to States and UTs as GST compensation shortfall

15 July 2021 at 19:55

Ministry of Finance has released Rs 75,000 crore to the States and UTs with Legislature under the back-to-back loan facility in lieu of GST Compensation. Almost 50 % of the total shortfall for the entire year released in a single instalment.

Posted in GST | 1932 Views

CBIC proactively places a COVID Response Plan (CRP) for speedy clearances of COVID-19 vaccines at all major airports

15 July 2021 at 20:12

CRP provides for setting up of a COVID-19 Vaccine Response Team (CVRT) at each Air Cargo/Courier Terminal. The CVRT will function as a single point of contact for all the clearance related to COVID-19 vaccine shipments.

Posted in Custom | 2337 Views

Reserve Bank of India takes supervisory action on Mastercard Asia / Pacific Pte. Ltd

15 July 2021 at 06:40

The Reserve Bank of India (RBI) has today imposed restrictions on Mastercard Asia / Pacific Pte. Ltd. (Mastercard) from on-boarding new domestic customers (debit, credit or prepaid) onto its card network from July 22, 2021.

Posted in Community & General | 5223 Views

Cabinet approves increase in Dearness Allowance and Dearness Relief

14 July 2021 at 20:19

Dearness Allowance to Central Government employees and Dearness Relief to pensioners has been increased with effect from 01.07.2021 to 28% representing an increase of 11% over the existing rate of 17% of the Basic Pay/Pension.

Posted in Community & General | 2 comments | 6027 Views

BHIM-UPI launched in Bhutan by Finance Minister Nirmala Sitharaman

13 July 2021 at 20:46

With the launch of BHIM-UPI in Bhutan, the payment infrastructures of the two countries are seamlessly connected and will benefit a large number of tourists and businessmen from India who travel to Bhutan each year.

Posted in Community & General | 1665 Views