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Sub-Committee of Insolvency Law Committee recommended IBC pre-pack framework

The Government constituted a sub-committee of Insolvency Law Committee (ILC) vide order dated 24th June, 2020 under the chairmanship of Dr. M. S. Sahoo, Chairperson, Insolvency and Bankruptcy Board of India (IBBI) to make recommendation on pre-pack insolvency resolution process (PPIRP).   This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply to a question in Lok Sabha today. The sub-committee has recently s..

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IBBI gives approval to 317 companies resolution plans

BBI gives approval to 317 companies' resolution plans; 1,126 companies to be liquidated As per information provided by Insolvency and Bankruptcy Board of India (IBBI), the Regulator, as on 31.12.2020, in 317 cases resolution plans have been approved and 1126 cases have been ordered for liquidation.   This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply to a question in Lok Sabha today. Giving more detail..

Posted in news |   144 Views


Major policy initiatives taken for better services to workers by ESIC

ESIC to run all new hospitals itself ESIC beneficiaries can now avail OPD consultation from empanelled hospitals Benefits under Atal BeemitVyaktiKalyanYojana for COVID-19 induced lockdown extended upto 30th June Employees’ State Insurance Corporation (ESIC) during its 183rd Meeting held here yesterday under the chairmanship of Minister of State for Labour & Employment (Independent Charge) Shri Santosh Kumar Gangwar has taken several significant decisions to improve its de..

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Resolution of Tax disputes amounting to Rs. 98,328 crore till 1st March 2021

A total of 1,28,733 Declarations have been filed in Form 1 till 1st March, 2021 by taxpayers. These include 1,393 declarations by Central PSUs and 833 declarations by State PSUs/ boards. Declarations have been filed by taxpayers for resolution of Tax disputes amounting to Rs. 98,328 crore till 1st March 2021. Payment of Rs. 53,346 crore have been made by taxpayers under the scheme till 1st March 2021. This was stated by Shri Anurag Singh Thakur, Union Minister of State for Fina..

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Union Government collects details of Central Taxes

Giving details of the taxes which are solely collected by the Union Government, Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply to a question in Lok Sabha today, stated them as under:- Direct Taxes Corporation Tax, Income Tax, Other Taxes in Income & Expenditure, Wealth Tax, Security Transaction Tax and Other Tax and Duty on Commodities & Services.   Indirect Taxes Central GST, Union Excise Duty on petro..

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Financial independence - Must for Women!

In today's world it is equally important for a woman to achieve financial independence. This concept of "Financial Independence" is no longer applicable to only men. Women are also making their way into it. As we all know women are experts at playing multiple roles that range from being a loving mother, an amazing cook and also a working professional. She has the art of balancing these things beautifully. But it is equally important for them to achieve their financial stability ..

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More than 81% account holders are Women under Stand Up India Scheme

More than 81% account holders are Women under Stand Up India Scheme MUDRA:68% of loan accounts belong to women entrepreneurs PMJDY:23.21 crore accounts out of 41.93 crore accounts belong to women Ministry of Finance, in the past seven years has launched various Schemes which have special provisions for empowerment of women. These Schemes have financially empowered women to lead a better life and chase their dreams of being an entrepreneur. As we are celebrating International Women’..

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Technical Cell of ICMAI releases Guidance Note on Local Content

Technical Cell of the Institute releases Guidance Note on Local Content in Manufacturing/ Production & Supply of Goods and Services DPIIT's Public Procurement (Preference to Make in India), Order 2017 has prescribed that in case of procurement of value in excess of Rs.10 crore, the 'Class-I local supplier'/'Class-II local supplier' shall provide a certificate from the statutory auditor or cost auditor of the company (in the case of companies) or from a practicing cost ..

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Insurance Ombudsman (Amendment) Rules, 2021

MINISTRY OF FINANCE (Department of Financial Services) NOTIFICATION New Delhi, the 2nd March, 2021 G.S.R. 147(E).—Whereas, certain draft rules, namely, the Insurance Ombudsman (Amendment) Rules, 2020, were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), dated 22nd December, 2020 under the notification of the Government of India in the Ministry of Finance (Department of Financial Services) number G.S.R. 788 (E), dated the 22nd December, 2020, in..

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45th Civil Accounts Day Celebration addressed by FM

The 45th Civil Accounts Day was celebrated here today in presence of Chief Guest and Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman; Shri G.C. Murmu, Comptroller & Auditor General of India; Dr. T.V. Somanathan, Secretary, Expenditure; and Smt. Soma Roy Burman, Controller General of Accounts, amongst others. This annual event was celebrated for the first time by virtual mode and was enthusiastically attended by Indian Civil Accounts Service (ICAS) officers and ..

Posted in news |   186 Views


Employee Healthcare Benefits Made Easy for Your Clients with Onsurity

Employee healthcare is no longer a ''s financial wellbeing. It is a good idea to get them employee healthcare benefits, which have many financial advantages. Here are just some of the many ways employee healthcare benefits help businesses save - Tax Savings: Healthcare plans are entitled for tax deductions, since the premium you pay for your employees is considered an expense. Cost Savings: Flexible and customisable plans allow you to pay just for the number of employees and the ..

Posted in articles |   192 Views


Embargo lifted on grant of Government Business to Private Banks

The Government has lifted the embargo on private sector banks (only a few were permitted earlier) for the conduct of Government-related banking transactions such as taxes and other revenue payment facilities, pension payments, small savings schemes, etc. This step is expected to further enhance customer convenience, spur competition and higher efficiency in the standards of customer services. Private sector banks, which are at the forefront of imbibing and implementing latest technology and inno..

Posted in news |   309 Views






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