CAclubindia News

Measures taken by the Finance Ministry to curb incidence of frauds in Banks

28 July 2021 at 06:28

As per the information received from RBI, the number of cases of frauds of Rs 500 crore and above reported by Public Sector Banks/ Indian Banks / Select Financial Institutions are 79 in 2019-20, 73 in 2020-21 and 13 in 2021-22 (up to 30th June 2021).

Posted in Community & General | 1191 Views

ITR Refunds are directly credited to the bank account of taxpayers, states FM

28 July 2021 at 06:26

As per the answer to Question no. 81 in the Rajya Sabha by FM on 27.07.2021, "Refunds are directly credited to the bank account of taxpayers making the end-to-end process from filing of ITR till receipt of refund seamless & fully electronic."

Posted in Income Tax | 6693 Views

Direct tax collection doubled for first quarter of current fiscal

27 July 2021 at 20:39

Shri Pankaj Chaudhary stated that the net direct tax collection in the 1st quarter of FY 2021-2022 is Rs. 2,46,519.82 crore as against Rs. 1,17,783.87 crore during the same period of previous FY 2020-21.

Posted in Income Tax | 1536 Views

Rs 24,356 crore of unclaimed deposit lying with SCBs as on 31st Dec 20

27 July 2021 at 20:29

As per information received from the Reserve Bank of India, the total amount of unclaimed deposits of Scheduled Commercial Banks was Rs. 24,356 crore, as on 31.12.2020. Unclaimed deposits have increased by Rs. 5,977 crore in the year 2020.

Posted in Community & General | 2907 Views

320 foreign companies registered in India between 2018 and 2021

27 July 2021 at 20:21

A total of 320 foreign companies registered in the country during the last three years. This was stated by Union Minister of State for Corporate Affairs Shri Rao Inderjit Singh in a written reply to a question in Rajya Sabha.

Posted in Community & General | 1263 Views

Government identified 2,38,223 companies as shell companies between 2018-2021

27 July 2021 at 20:15

Shri Rao Inderjit Singh further stated that the Special Task Force set up by the Government to look into the issue of "Shell Companies" has inter-alia recommended the use of certain red flag indicators as alerts for identification of Shell Companies.

Posted in Corporate Law | 3123 Views

GSTN | New functionality on Annual Aggregate Turnover deployed on GST Portal for taxpayers

27 July 2021 at 20:05

The taxpayers can now see the exact Annual Aggregate Turnover for the previous FY, instead of just the two slabs of Above or Upto Rs. 5 Cr. Taxpayers can also see the AATO of the current FY based on the returns filed to date.

Posted in GST | 8577 Views

Financial assistance towards MSMEs

27 July 2021 at 06:33

In view of the challenges faced by taxpayers due to the outbreak of COVID-19, the Government of India has taken several taxation related measures for MSMEs. Financial Assistance has also been provided to MSMEs.

Posted in Corporate Law | 5274 Views

ICAI releases the 12th edition of the Code of Ethics for its Members

27 July 2021 at 06:31

ICAI has released the 12th Edition of the Code of Ethics for its members. The revised edition of the code has come into effect from 1st July 2021. Download links of the three volumes of the Code has been given in this news piece.

Posted in Professional Resource | 2700 Views

54,439 appreciation certificates given to taxpayers on eve of completion of 4 years of GST

26 July 2021 at 22:01

GoI has awarded Appreciation Certificates, on the eve of completion of 4 years of GST, to 54,439 taxpayers who have made substantial contribution in payment of GST and filed their returns in a timely manner.

Posted in GST | 2541 Views