©orporate Updates on 23.8.2019
Ø India's consumer confidence drops in August: Report
Ø Airtel fastest mobile broadband network, Jio now slowest
Ø Startups with turnover up to Rs 25 cr to get tax break
Ø Gadkari eyes Rs. 10L crore revenue from Bharatcraft
Ø Labour code on mandatory minimum wages notified
Ø CAIT seeks extension of last date to file GST return
Ø Trump talks up economy, talks down Fed amid mixed data
Ø EPFO to allocate equity investments equally in Nifty and SENSEX firms
Ø Extraordinary steps needed to deal with financial sector stress : NITI V-C
Ø FPI norm easing: Big bucks from cash-flush West Asia banks likely
Ø Govt files IPO document for IRCTC with SEBI, plans to offload 12% stake
Ø US deficit to hit $960 bn in 2019, top $1 tr in 2020: Report
Ø Lupin divests its Japanese injectables business to Abu Dhabi company
Ø Super-rich surcharge leaves financial sector poorer as FPIs pull out ₹6,700 cr
Ø Brazil, Vietnam tighten grip over coffee market
Ø Pharma body wants certainty, predictability in price-control mechanism
Ø Stimulus to industry creates moral hazard, says CEA
Ø Depositors’ law not applicable to NSEL: Bombay High Court
Ø Gillette India Q4 net up 32 per cent at ₹46 cr
Ø Airtel has strong balance sheet: Goldman Sachs
Ø Domestic air traffic growth falls to five-year low in January-July 2019
Ø DLF denies charge of non-disclosure of key information in QIP
Ø Businesses get four months to settle pre-GST tax disputes
Ø NTPC gets shareholders' nod to raise up to Rs. 15,000 crore via bonds
Ø India-Peru: Fifth round of Trade Negotiations held in New Delhi
Ø Nepal, India review bilateral ties with special focus on connectivity, economic partnership
Ø BRICS bank looks to tap into Indian Rupee offshore market
Ø *MCA issues clarification on firms’ merger date*
Ø Rupee crashes to over 8-mth low of 71.81 against USD
Ø SENSEX sinks 587 points; Yes Bank nosedives 14 per cent
Ø Gold continues bull run, nears Rs 39,000 mark
Ø India's petrol imports in July hit highest in at least eight years
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threshold for filing appeals would be applicable to all pending cases as well. The Board directed the income tax department to withdraw all such pending cases where claim amounts fall below the revised limit from appellant forums by October 31.
Indian startups with turnover in excess of Rs 25 crore may have to pay income tax even though they may be eligible for the three-year tax holiday announced by the government. That’s because under tax laws, the threshold for exemption remains at Rs 25 crore. It has not yet been enhanced to Rs 100 crore in line with the DPIIT.
GST Annual Return and GST audit (GSTR9 & GSTR9C) due date likely to be extended till November 30 2019.
finance ministry has amended the Prevention of Money Laundering Act, 2002, to clarify the various modes of capturing customer details electronically, in what could potentially change the way regulated entities such as banks and telecom companies capture these details completely.
SEBI announced that its board had approved to ease the regulatory framework for foreign portfolio investors (FPIs). Not only would these changes make life easier for FPIs, but would also enable a new class of investors to invest in India.
MCA through its General Circular has clarified the interpretation of the provision of section 232(6) of the Companies Act, 2013 w.r.t 'appointed date' and 'acquisition date' for the purpose of Ind-AS 103 (Business combinations) to be identified under the Merger Scheme's.
MEF for the year 2019-20 is live at www.meficai.org orwww.pdicai.org. last date for submission of online MEF Form for the year 2019-20 is 4th September, 2019 and online Declaration is to be submitted within 10 days of the filling of MEF but not later than 11th September, 2019.
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👉🏻CBDT issues clarification on eligibility of small Start-ups to avail tax holiday
(CBDT has clarified today that small start-ups with turnover up to Rs. 25 crore will continue to get the promised tax holiday as specified in Section 80-IAC of the Income Tax Act, 1961 which provides deduction for 100 % of income of an eligible start-up for 3 years out of 7 years from the year of its incorporation)
👇🏻 👇🏻 👇🏻
http://bit.ly/2ZncEfc
👉🏻SEBI announces reward of Rs 1 Cr to insider trading informants
(SEBI has announced a reward of upto one crore rupees for informants willing to provide credible information regarding insider trading cases)
👇🏻 👇🏻 👇🏻
http://bit.ly/2Nl5NAC
👉🏻Revised threshold limits for appeals by I-T department to apply in all pending cases
(CBDT in an internal notice sent to high ranking I-T officials has clarified that the revised monetary limits of filing of appeals by the tax authorities before the tax tribunals and courts, will also apply to all pending cases)
👇🏻 👇🏻 👇🏻
http://bit.ly/33NdANr
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72% of annual GST returns yet not filed, 9 days left:
READ MORE- https://www.gststation.in/72-of-annual-gst-returns-yet-not-filed-9-days-left/
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Govt offers resolution for pre-GST disputes with tax authorities:
READ MORE- https://www.gststation.in/govt-offers-resolution-for-pre-gst-disputes-with-tax-authorities/
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GST update: Indirect tax dispute resolution scheme notified:
READ MORE- https://www.gststation.in/gst-update-indirect-tax-dispute-resolution-scheme-notified/