12th February 2K21
Ø Targeting to conclude BPCL strategic sale by June: DIPAM Secretary
Ø Larsen & Toubro wins metro contract in Mauritius
Ø Government to spin-off NDR into separate co to boost oil, gas exploration
Ø Government seeks Parliament nod for additional gross expenditure of Rs 6.28 lakh crore
Ø BFSI has among the best risk management practices: ICICI Lombard
Ø Gems, jewellery exports dip 7.8 pc to USD 2.7 billion in January: GJEPC
Ø ITC consolidated net profit declines 11.4% to Rs 3,587 crore in Dec quarter
Ø Data traffic in India increased 60 times in 5 years, says Nokia report
Ø Karur Vysya Bank Q3 profit up 133% at Rs 35 cr, net NPA down at 2.55%
Ø Sebi allows Thomas Cook to withdraw buyback offer, cites Covid impact
Ø Sebi examines feasibility to introduce freight derivatives contracts
Ø Oil India reports higher Q3 profit over significant tax reversal
Ø Passenger vehicle sales in January grow 11% YoY to 2,76,554 units
Ø Finance Bill fineprint can squeeze firms’ working capital
Ø Economic recovery allaying fears over banks’ asset quality: Moody’s
Ø ACC net up 73% in Dec quarter on tax write-back
Ø MRF’s Q3 profit more than doubles to ₹512 cr
Ø Ashok Leyland posts ₹19-cr loss in Q3 on VRS cost
Ø Grofers mulls indirect listing in US via SPAC route
Ø Govt paves way to allow FPIs to debt finance REITs, InvITs
Ø Piramal Enterprises Q3 profit up 10% at ₹799 crore
Ø Yield on 10 year G-sec falls back to below 6%
Ø Ashok Leyland reports net loss of ₹19.4 cr in Q3FY21
Ø EU rebuffs UK call to reset their post-Brexit relationship
Ø Sun Pharma settles whistle-blower complaints, to pay ₹ 2.36 crore
Ø Malaysia’s economy posts biggest annual decline since 1998 crisis
Ø Growth prospects to drive India’s rating: Fitch
Ø Petrol, diesel prices at fresh highs as rates up for 2nd straight day
Ø Amazon moves Supreme Court in Future-Reliance deal dispute
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⚫PM said that the private sector is as important as the public sector for development, in one of the most forceful endorsements by a senior policymaker of the role that businesses can play to distribute wealth and create jobs. If India is able to serve humanity, it is also due to the role of the private sector said.
⚫The Govt expects Twitter to fully comply with its legal notice in the matter of taking down accounts that were tweeting “incendiary” hashtags related to the ongoing farmers protests. It strongly said that “lawfully passed orders are binding on any business entity”.
⚫The Govt plans to sell 20% of its stake in National Fertilizers through an offer for sale. The Govt holds 74.71% stake in the company, which is the second largest producer of urea in the country. The sale could fetch the Govt around Rs 408 crore.
⚫SBI proposes within next 10 years to scale its home loan portfolio from Rs 89,000 crore to Rs 5 trillion.
⚫Intensifying their agitation against the three new agricultural laws, protesting farmer unions announced a four hour nationwide 'rail roko on Feb 18 and also announced that toll collection will not be allowed in Rajasthan from February 12.
⚫With 352,553 more vaccinations across India on Tuesday, the total count of those inoculated reached 6,611,561. The count of recovered coronavirus cases across India, reached 10561608 or 97.27% of total caseload.
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👉🏻SC asks CBDT to decide on exemption to NRIs from paying income tax
(The Supreme Court directed a representation to be made to the CBDT on relief to be given to NRIs in terms of the payment of tax under the Income Tax Act for FY21 amid Covid-19)
👇🏻 👇🏻 👇🏻
http://bit.ly/2Z4XIVh
👉🏻GST Rule 36(4) - Restriction in claiming Input Tax Credits under GST
(An analysis of Rule 36(4) - Validity of ITC restriction (20/10/5%) under Rule 36(4)
👇🏻 👇🏻 👇🏻
https://youtu.be/B2QeSII_9ms
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⚫Exporters urged the Govt to provide support measures in the next foreign trade policy, being formulated by the commerce ministry, to boost the country's outbound shipments.
Gems and Jewellery Export Council said to announce a jewellery repair policy as it will help promote shipments of jewellery.They also include efficient mechanism for duty drawback scheme; continuation of EPCG and action plan to promote exports from districts.
⚫The Govt has approved applications from several medical devices manufacturers under the Production Linked Incentive scheme for the promotion of domestic mfg. The setting up of these plants will lead to a total investment of Rs 729.63 crore by the co's and employment generation for about 2,304 persons.
⚫With India getting back to work, the hiring activity saw sequential growth in certain sectors including education, real estate and banking, financial services and insurance in January.
⚫The Govt is targeting to conclude the privatisation of BPCL in the first quarter of next fiscal year (Q1FY22).
⚫The number of healthcare and frontline workers vaccinated against Covid-19 reached 7.43 million on Thursday, the 27th day of the countrywide inoculation programme.
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CBDT has said that there will be no extension for the above group of ITR filers for AY 2020-21. Replying to an RTI query, CBDT told the Gujarat High Court that there was no such plan. It also apprised the Gujarat HC that the due date for Audit Report filing has already been extended till 15th February 2021.
income tax department said it has issued over Rs 1.91 lakh crore worth refunds to over 1.87 crore taxpayers so far this fiscal. Of this, personal income tax refunds of Rs 67,334 crore have been issued to over 1.84 crore taxpayers and corporate tax refunds of Rs 1.23 lakh crore have been made in 2.14 lakh cases.
Supreme Court directed the apex tax body Central Board of Direct Taxes (CBDT) to respond to a representation from an NRI, who may be exposed to higher tax, for having overstayed in India due to Covid-19.
MCA amends the Rules w.e.f. 1.4.2021 to give effect to much awaited announcement in Budget 2021 speech related to :Definition Rules to increase the small company limits, Incorporation Rules to give effect to OPC and Resident Director stay limits.
Absence of field for Lawyers for Registration as Professionals on Ministry of Corporate Affairs (MCA) website is Discriminatory:Case Name : Shikha Sharma Bagga Vs Union of india and anr (Delhi high court)
Sebi is considering a proposal to introduce a framework to ascertain the incidents of technical glitches whereby compensation would be given to investors. Besides, the regulator is also looking to devise a methodology and calculation of compensation. Further, to improve the efficacy of liquidity enhancement measures such as market making, Liquidity Enhancement Scheme (LES) and call auction mechanism for illiquid securities, Sebi would review the existing framework.
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