✓Corporate Snippets on 4.1.2021✓
Ø Bank credit records marginal growth: CARE report
Ø CAG writes to Finmin, seeks performance audit details of PSU banks recapitalisation
Ø Reliance, BP commit to pay for any shortfall in KG-D6 production to buyers
Ø Telcom majors to push DoT to release new 5G spectrum band
Ø Ford-Mahindra deal called off due to high costs, pandemic impact
Ø High cost of production delays recovery of secondary steel companies
Ø Serum, Bharat Biotech vaccines get restricted use approval from DCGI
Ø ArcelorMittal, JSW Steel among six firms keen on buying Uttam Galva Steel
Ø Govt. to divest 26% stake in BEML; EoI submission open till March 1, 2021
Ø Credit quality of rated entities improved in Q3, says CARE
Ø Iran to boost oil output via $1.2 billion deal with local companies
Ø Bitcoin gains 7.8%, breaches $34,000-mark as rally extends into new year
Ø D P World-run Chennai Container Terminal wins first rate hike in 12
Ø Government floats PPP model for dredging projects at major port
Ø Tata Steel transfers JCAPC, Tata BlueScope stake to downstream
Ø GAIL’s natural gas pipeline to connect MRPL soon
Ø MRPL increases stake in ONGC Mangalore Petrochemicals Ltd to 99.99%
Ø Zydus Cadila gets DCGI nod to initiate Phase-3 clinical trials
Ø Unemployment rate at 6-month high in Dec despite revival signs
Ø Bharat Biotech's Covaxin may have some lead over other vaccines: ICMR chief
Ø Bank credit records marginal growth: CARE report
Ø PM Modi to inaugurate Kochi-Mangaluru GAIL pipeline on 5 Jan
Ø Discoms' outstanding dues to power gencos rise 35% to ₹1.41 trillion in November
Ø Auto sector poised to see double-digit growth in ‘21
Ø Exports slip 0.8% in December 2020; trade deficit widens to $15.71 billion
Ø A $200-bn opportunity in core ICT awaits India
Ø 6.03 crore GST e-invoices generated in Dec 2020
Ø COVID-19: UK reactivates emergency hospitals, closes primary schools in London
Ø Pfizer and BioNTech to offer COVID-19 vaccine to volunteers who got placebo by March this year
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⚫In a massive clean up of legacy issues, nearly 1/5th of about 5 lakh entities locked in tax litigation with the Govt have opted for a dispute redressal scheme,helping settle around Rs 83,000 crore of contested amount. It was an attempt to release Rs 9.32 lakh crore blocked in approximately 4.8 lakh appeals pending at various appellate forums.
⚫India’s drug regulator gave its final approval to the Oxford-AstraZeneca and Bharat Biotech coronavirus vaccines for restricted use in an emergency situation, giving the country its first two shots for immunising its vast population in the coming weeks.
⚫The Govt is planning to sell 10% stake in Rashtriya Chemical and Fertilizers Ltd and invited bids from merchant banker and legal firms for managing the share sale process.
⚫The Centre invited bids for strategic divestment in BEML.The Govt will sell 26% out of the total 54.03% stake it holds in the company along with transfer of management control.
⚫Directorate General of Civil Aviation will offer all its licensing and approval services online and launch a mobile app for pilots by February end.
⚫Covishield to cost Rs 200/dose for first 100 mn doses to Govt: MRP for private market Rs 1,000/ dose; current licence does not allow export or sale in private market.
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👉🏻CAG writes to finmin, seeks performance audit details of PSU banks recapitalisation
(CAG has written to the finance ministry seeking details about the ongoing performance audit of government's massive recapitalisation excercise of public sector banks)
👇🏻 👇🏻 👇🏻
http://bit.ly/356rNY0
👉🏻Tax Audit Checklist - Part 10
(Clause by Clause Discussion of Income Tax Audit Form 3CD - Part 10)
👇🏻 👇🏻 👇🏻
https://bit.ly/3b1mm0l
👉🏻CGST Delhi Commissionerate arrests one for duty evasion of around Rs 831.72 Cr
(Delhi Zone has been making sustained efforts to check evasion of GST, leading to detection of Rs 4,327 Cr in the current Financial Year and 15 persons have been arrested in these matters)
👇🏻 👇🏻 👇🏻
http://bit.ly/3hFaIJB
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CPE Hours Compliance
It has been decided to extend the last date for complying with the mandatory CPE hours requirement for Calendar Year 2020 either in physical/offline mode or in virtual mode through VCM/DLH from 31st December, 2020 to 31st January, 2021.
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NO ESCAPE! TAX DEPT TO PREFILL CAPITAL GAINS, DIVIDENDS FROM STOCK MARKET TRANSACTIONS
Revenue Secretary Ajay Bhushan Pandey said in an interview with Business Today, the efforts are to automatically provide the taxpayer information on their capital gains from sale of stocks and mutual funds, dividends, etc so that when an individual is filing income tax returns, he does not have to manually fetch the data from different sources and fill in their returns.
"The whole idea is that it will help the honest taxpayers in preparing their returns so that even by mistake s/he does not forget those transactions in the tax returns. And for those, who earlier used to think how will the tax department know (about the transactions), would know that tax authorities have details of those taxable transactions, and it is better to disclose them in the returns to avoid any complications at a later stage," said the revenue secretary.
The KRAs maintain KYC records of the investors on behalf of capital market intermediaries registered with SEBI.
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✒ Supreme Court registers suo moto case to examine alleged attacks by police and paramilitary forces on farmers who are protesting against newly introduced farm laws at the Delhi Borders.
✒ Supreme Court asks centre to amend Cattle slaughter rules stating that " Animals a source of livelihood, cannot be confiscated before accused is convicted".
✒ Delhi High court has directed Delhi University(DU) to provide a timeline for declaration of results , issuance of marksheets and holding convocations on an annual basis for students .
✒ Delhi High court said in a Hebeas Corpus petition that "If she doesn't want to go, we cannot force her to go" and allowed the father to pick her daughter from Nari Niketan .
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