16th March 2K21
Ø Govt collects Rs 26,457 crore by decreasing stakes in six DPSUs in last 5 years
Ø Adani Renewables bids Rs 2.77 for wind projects
Ø EPFO closed 71.01 lakh EPF accounts in April-December 2020
Ø No plan to split GAIL: Oil Minister Dharmendra Pradhan
Ø Natco Pharma forays into pheromone-based technology for integrated pest management
Ø RBI asks banks to implement image-based Cheque Truncation System in all branches by September 30
Ø Tata Communications OFS opens Tuesday for institutional investors
Ø No proposal at present to include petroleum under GST: Sitharaman
Ø States may face Rs 3 trillion GST compensation shortfall in FY22: Report
Ø FM Sitharaman introduces Bill in Rajya Sabha to allow 74% FDI in insurance
Ø MFs hold nearly a fifth of AT-1, Tier-2 bonds issued by banks: Nomura
Ø Stripe becomes top US startup as valuation jumps to $95 bn
Ø PGCIL acquires RNTL in Rajasthan
Ø Tech Mahindra picks up 70% stake in Perigord Asset for €21
Ø PAC for lowering interest rates of loans to MSMEs
Ø WPI inflation surges to 27-month high of 4.17% in Feb
Ø Cochin Shipyard ‘ready’ to put equity in India’s first locally build dredger for DCI
Ø Ratan Tata acquires stake in Pritish Nandy Comm
Ø UK's 10-Year inflation expectations climb to highest since 2008
Ø Govt likely to introduce Electricity Amendment Bill in ongoing session
Ø Laxmi Organics IPO sees strong start; Craftsman IPO subscribed 55% on Day 1
Ø India's import of arms decreases by 33%, says SIPRI
Ø RBI to extend cheque truncation system across all bank branches
Ø EU takes legal action vs UK over Brexit deal delays
Ø Exim Bank sees exports growing 4.9 per cent in Q4
Ø China’s factories, consumers drive recovery into 2021
Ø Nationwide strike impacts banking services of PSU banks
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LEGAL-KNOWLEDGE CAPSULE
✒ Supreme Court held that person ineligible u/s 29A IBC to submit Resolution plan cannot propose scheme of compromise & Arrangement u/s 230 Companies Act, 2013.
✒ Supreme Court refuses to entertain habeas corpus plea seeking protection of Girl in an interfaith relationship with petitioner allegedly detained by her parents.
✒ Kerala High Court allows admission of transgender person to National Cadet Corps on the basis of self-perceived gender identity.
✒ Central Government moves Supreme Court against bombay High Court decision granting bail to Rhea Chakraborty in NDPS case.
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⚫The wholesale price based inflation rose for the second consecutive month in February to 4.17%, as food, fuel and power prices spiked.
⚫The country's exports rose marginally by 0.67% yoy to USD 27.93 billion in February even as trade deficit widened to USD 12.62 billion. Imports rose by 6.96% to USD 40.54 billion in the month. The trade deficit in February 2020 was at USD 10.16 billion.
⚫Amid rising fuel prices, FM informed Parliament that there is no proposal at present to include petrol, diesel and three other fuels under the GST.
⚫Rs 2,000 currency notes have not been printed in the last two years even as the quantum of India's highest denomination currency note has come down.
⚫RBI has forwarded the list of Auditors to Banks for appointment of Statutory Bank Branch Auditors for the year 2020-21.
⚫Maharashtra Govt warns shutting hotels, cinemas for violating Covid rules. Maharashtra has reported as many as 15,051 fresh COVID-19 cases
⚫The Punjab School Education Board announced the postponement of the final exams of classes 10 and 12 by about a month in the wake of rising COVID-19 cases in the state.
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👉🏻Bank Branch Audit 2021 Updates
(RBI has sent the Branch Audit Panel to Banks. Banks will start sending mails soon. Check mail on regular Basis.
Share update regarding Bank Branch Audit with CASANSAAR WhatsApp No. 8285393786)
👇🏻 👇🏻 👇🏻
http://bit.ly/3qT94ap
👉🏻Punjab State Development Tax Act and Rules, 2018 (Professional Tax)
(Detailed Discussion on Punjab State Development Tax Act and Rules, 2018 (Professional Tax) by CA. Shashi Bhushan.
👇🏻 👇🏻 👇🏻
https://bit.ly/2Q9Vgf2
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Income Tax Assessing Officer can make addition u/s 68/69C despite estimation of Income U/s 44AF of the Income Tax Act. Case Name : Atul Dinesh Seth Vs ITO (ITAT Bnagalore). Appeal Number : ITA Nos. 399 to 401/Bang/2020. Date of Judgement/Order : 08/03/2021
CBIC received various representations that various IGST refunds were stuck due to such mis-match error as the above circular provided resolution for shipping bills filed till 31 march 2019. Therefore, refunds of IGST could not be processed related to Shipping Bills filed after 31.3.2019 due to mismatch error.
Sebi move to cap the exposure of mutual funds to tier 1 & 2 bonds to 10 per cent to mitigate the risks for retail investors as a positive step, a Crisil analysis has found that none of the AMCs is exposed to the risk though 36 schemes, mostly led by banking and PSU funds, do breach the new threshold.
UGC recognised CA qualification equivalent to PG degree. This will go in long way to support Professional colleagues globally.
ICAI Condonation Scheme to regularize UDINs provided by the ICAI vide its announcement dated 31st January 2021 which ended on 28th February 2021 is now being extended upto 31st March 2021. Whereby, all the missed UDINs between the period 1st February 2019 to 10th March 2021 can now be generated upto 31st March 2021 and this is in continuation to the Condonation Scheme announced previously.
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