Quick recap
Economic Times
Ø Apple takes on EU’s Vestager in record $14-bn tax fight
Ø Allahabad Bank board okays merger with Indian Bank
Ø Next Trump tariffs may hit Europe’s luxury products
Ø ED slaps Rs 230 cr fine on PwC for FEMA violations
Ø Piramal Enterprises to raise Rs 690 crore via NCDs
Ø Govt to cut insurance premium rates for small exporters
Ø RBI reviews GDP forecasting after Q1 print surprise
Business Standard
Ø Saudi attacks to hit India's oil import bill, rupee immediate casualty: DBS
Ø Govt reveals slew of measures to increase export credit to 30% in FY20
Ø Tata to invest Rs 580 cr in realty biz for new projects, debt reduction
Ø Warburg Pincus may buy Andhra Bank's 20.5% stake in IndiaFirst, says report
Business Line
Ø Bhushan Power case: NCLAT seeks govt’s response on JSW Steel’s plea
Ø Ashok Leyland in talks with Michelin, Marubeni, SBICap for e-Mobility venture
Ø Hero MotoCorp announces voluntary retirement scheme for employees
Ø Cost of credit for exporters to come down under expanded scheme, says Goyal
Ø IL&FS invites bids for sale of six land parcels, enlists services of JLL
Mint
Ø Slump in steel sector spreads to small, medium companies
Ø Current account under threat if oil surge continues, says Shaktikanta Das
Ø Farm bodies exempted from 2% tax at source on payments above ₹1 crore
Ø Govt to cut insurance premium rates for small exporters: Piyush Goyal
Ø Spike in oil prices couldn’t come at worse time for a slowing world economy
Financial Express
Ø Reliance Communication’s undersea cable unit GCX files for bankruptcy
Ø Jet Airways lenders make presentation to Synergy Group
Ø TRAI seeks views on maximum duration for phone calls to ring
Ø Government asks Apple to manufacture, export more from India
Deccan Chronicle
Ø Saudi assures India of no oil supply shortage: Oil Min
Ø Unsold spectrum resulted in Rs 5.4 lakh crore losses, claims BIF
Ø P-note investments continue to drop; stands at Rs 79,088-cr in Aug-end
Ø Govt keen to bring India among top 25 countries in ease of business: Kant
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18th September 2K19
Economic Times
Ø 3 yr lock-in period on NRI's bond investments waived
Ø Mutual Fund units held by non-residents decline
Ø Discom sector needs drastic reforms: Power secy
Ø Sitharaman to announce another booster dose this week
Ø Saudi attack: India may raise oil imports from Russia
Ø Cos drag govt to court over GST on land lease pacts
Ø CG Power case: Sebi bans Gautam Thapar, 3 others from mkts; orders forensic audit
Business Standard
Ø FDI in coal mining requires better pricing, logistics and regulation
Ø Sebi seeks RBI help to attract corporate participation on comexes
Ø Sebi seeks RBI help to attract corporate participation on comexes
Ø Srei Infra moves regulators for buyback of NCDs from retail investors
Ø Coffee Day inks deal with Blackstone to sell Global Village for Rs 2,700 cr
Business Line
Ø SAIL allowed to offload 25% of iron ore output
Ø Trade interests, not diplomacy, will decide the RCEP pact, says Jaishankar
Ø Over 6 crore EPFO subscribers to get 8.65% interest for 2018-19: Gangwar
Ø AIAHL to issue bonds worth Rs 15,000 crore in September
Ø Adani Power arm gets nod to charge Rajasthan discoms higher coal cost
Mint
Ø Oil prices sink 5% as quick Saudi output recovery seen
Ø IL&FS group firms to sell 494 acres land to pare debt
Ø Indian equity, hybrid MFs have highest expense ratios in the world: Morningstar
Ø Saudi oil output to recover in two or three weeks after attack
Ø Meddo raises $3 million in pre-Series A funding led by SRI Capital
Financial Express
Ø Srei seeks Sebi, RBI nod to buy back NCDs from retail investors
Ø Icra revises outlook on auto component sector to ‘negative’
Ø Tata Power arm to exit South African JV Cennergi for $106 million
Ø $45 billion at stake: Global investors unwinding as Narendra Modi euphoria wanes
Deccan Chronicle
Ø Sensex crashes 642 points as crude oil woes persist
Ø Investor wealth plummets Rs 2.72 lakh crore in two days of market fall
Ø Rupee furthers loss by 18 paise as crude worries hurt sentiment
Ø Emerging economies like India more vulnerable to big oil price moves: Report
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# Tax Audit Update : ICAI submitted representation for extension of due date till 30 November 2019. Please keep on tempo of audits on. It will help you, in any case.
# Pay Membership Fees Online simply with Membership No. and DoB. Members with Individual/Proprietary practice can also claim GST credit.
https://www.icai.org/new_post.html?post_id=15946
# IBBI: List of provisions for Valuation required under the provisions of the Companies Act, 2013 and the Insolvency and Bankruptcy Code, 2016 vide IBBI/RVO/026/2019 dated 16 September 2019
# Due Date- 20-09-2019 - GSTR-3B for the m/o August 2019
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To boost the automobile sector additional 15% Depreciation will be allowed under Income Tax Act. 2% TDS in case of cash payments more than 1Cr through APMCs.
CBDT has eased the norms for initiating prosecution for various defaults including failure to transfer TDS and TCS to the government, under-reporting of income and non-filing of tax returns. CBDT said that there won’t usually be prosecution if the TDS/TCS not deposited is up to Rs 25 lakh and the delay is of less than 60 days.
Government having detected frauds of close to Rs 50,000 crore, the Centre is looking to tighten processes, including those related to claiming input tax credit (ITC), and will focus on getting states to okay plans to shut down leaks and evasions at this week’s GST Council meeting.
Sebi is planning to set up a new whistle-blower mechanism for auditors and other 'gate-keepers' to report cases. The proposed move assumes significance in the wake of several auditors in the recent past decided to exit from their audit mandate after certain listed companies failed to take remedial actions despite financial wrongdoings having been flagged in their auditors' observations.
Bank strike announced on 26th & 27th September, 28th September is 4th Saturday, 29th is Sunday. 30th half yearly closing. Oct 2 Gandhi Jayanthi holiday.
ICAI Membership/ COP Fees for the year 2019-20 has already become due for payment on 1st April, 2019. The last date for payment is 30th September, 2019. Non-payment of above fees by last date may result in removal of Membership/COP from 1st October, 2019.
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👉🏻Applicability of ICDS with respect to ITR Forms
(Applicability of ICDS with respect to ITR Forms by CA.Rajiv Jain)
👇 👇 👇
https://youtu.be/6dJH48MHJ9s
👉🏻SEBI mulls new whistle-blower mechanism to stem Auditor exits
(The proposed move assumes significance in the wake of several auditors in the recent past decided to exit from their audit mandate after certain listed companies failed to take remedial actions)
👇🏻 👇🏻 👇🏻
http://bit.ly/2kkKhjg
👉🏻Farm bodies exempted from 2% TDS on payments above Rs.1 Cr
(To give relief to the rural economy, the government has exempted agriculture produce marketing committees (APMCs) from the purview of the 2% TDS on payments above Rs.1 Cr)
👇🏻 👇🏻 👇🏻
http://bit.ly/2mlYai1
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👉RBI allows payment of all recurring bills through Bharat Bill Payment System ( BBPS ).
👉SEBI to move Supreme Court against SAT on Price Waterhouse order .
👉The Income Tax department is warning all holders of PAN to not share their ten-digit alphanumeric PAN publicly on social media.
