22nd January 2K21
Ø Indians saved additional $200 billion during Covid pandemic and lockdowns
Ø Vodafone Group may sell small stake in Indus Towers to inject capital into Vi
Ø French automaker Citroen to bank on SUVs to become a major player in India
Ø India expects participation of global oil majors in BPCL bidding: Oil minister Dharmendra Pradhan
Ø Indian real estate attracted $5 billion institutional investments in 2020: Report
Ø Government assures Coal India of 'full support', stresses on learning 'new things'
Ø Iraq cuts crude oil supplies for most Indian refiners in 2021: Report
Ø RBI remains net purchaser of US dollar in November, buys $10.261 bn
Ø PE investments in real estate down 40% at $4.06 billion in 2020
Ø Sebi penalises HDFC Bank for wrongly invoking pledge of securities
Ø Asian Paints Q3 profit surges 62% to Rs 1,238 crore, revenue grows 25%
Ø Sebi nod for Future, Reliance deal subject to court proceedings: Amazon
Ø JSPL posts ₹2,567-cr profit in Q3 on higher pent-up demand
Ø Bajaj Auto third-quarter net rises 44% to ₹1,716 crore
Ø Centre likely to give final push to urban housing scheme
Ø Oil, gas output show signs of recovery in Dec
Ø Raymond board approves raising up to ₹200 cr via NCDs
Ø US-based Humanscale targets WFH space in India
Ø NSE is world’s largest derivatives exchange for 2nd consecutive year
Ø Morgan Stanley fund invests $25 mn in LEAP India
Ø Home First IPO subscribed 1 times on Day 1; Indigo Paints 6.92 times on Day 2
Ø RBI imposes ₹2 crore penalty on Standard Chartered Bank
Ø No fall in COVID infections despite lockdown, finds UK study
Ø India’s GDP within striking distance of attaining positive growth: RBI
Ø Jet Airways engineers’ body files application with NCLT for speedy resolution
Ø SBI Cards’ net profit plunges 52 pc to Rs 210 cr in Dec quarter
Ø Reliance Power Q3 profit up 6 per cent at Rs 52 crore
Ø Karnataka tops in Niti Aayog's second Innovation Index again
Ø Biden signs 15 executive orders, reversing Trump's key policies
Ø Centre issues Letter of Comfort to Bharat Biotech for 45 lakh doses of Covaxin
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⚫The Indian technology industry has welcomed the US President Biden for his stand on immigration and the H1B visa. Biden is expected to send a Bill to the Congress that proposes to eliminate the per country cap for employment based green cards. All this is expected to help Indian IT professionals.
⚫Even as India's hiring activities declined last year due to the coronavirus, there is a sudden increase in demand with about 53% of co's saying they are planning to increase their headcounts in 2021.
⚫The RBI imposed a penalty of Rs 2 crore on Standard Chartered Bank India for delays in reporting of frauds to it.
⚫In a setback to the Centre’s effort to break the deadlock over the farm laws, the protesting farmers’ unions rejected the Govt’s offer to keep the laws on hold for around 18 months, saying that they will not settle for anything less than total repeal of the Acts and a legal guarantee for MSP.
⚫Five people died when a fire broke out inside the sprawling complex of the Serum Institute of India in Pune.
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Income Tax E-filing Wef AY 2020-21, file Form 10-IC electronically from PAN login, to exercise option of 22% tax u/s 115BAA by a domestic company with DSC/EVC.
Central Board of Direct Taxes in exercise of powers conferred under Para 3 of the Faceless Penalty Scheme, 2021 hereby directs that all the penalty cases initiated under the Income-tax Act, 1961, pending as well initiated subsequently, is assigned to the National Faceless Penalty Centre to be disposed by the National Faceless Assessment Centre (read as NeAC) in accordance with order under para 4 of the Scheme, dated 20.01.2021 (F. No 187/3/2020-ITA-I), except provided as hereunder :- i) Penalty proceedings in cases assigned to Central Charges; ii) Penalty proceedings in cases assigned to International Tax Charges; and iii) Penalty proceedings arising in TDS charges.
GST portal, after enter into an ‘Intimation of Voluntary Payment – DRC-03’ for voluntary payment of outstanding liabilities u/s 73 and 74 of the CGST Act, new option has been added in the cause of payment in DRC-03 for payments to be done on account of. 1. Liability mismatch – GSTR – 1 to GSTR -3B. 2. ITC Mismatch – GSTR -2A/2B to GSTR – 3B.
SEBI granted approval to the Future Group and Reliance Retail deal. In August 2020, Kishore Biyani led-Future Group had entered into a 24,713 crore agreement with Mukesh Ambani's Reliance Retail. As part of the deal, Future Group was to sell its retail, wholesale, logistics and warehouse businesses to Reliance Retail Ventures (RRVL).
Supreme Court upheld the Constitutional validity of the amendments made to the Insolvency and Bankruptcy Code (IBC) in 2020 that mandated a minimum of 100 home buyers to come together to file an insolvency application in the National Company Law Tribunal (NCLT) to trigger the IBC against a defaulting developer.
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GST portal, after enter into an ‘Intimation of Voluntary Payment – DRC-03’ for voluntary payment of outstanding liabilities u/s 73 and 74 of the CGST Act, new option has been added in the cause of payment in DRC-03 for payments to be done on account of. 1. Liability mismatch – GSTR – 1 to GSTR -3B. 2. ITC Mismatch – GSTR -2A/2B to GSTR – 3B.
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