⚫RBI made a dividend payout of Rs 99122 crore more than double of the budget estimate of Rs 45,000 crore, and has been enabled by the increased returns from the RBI's domestic assets and changes in its accounting practices.
⚫The Ministry of Labour & Employment announced a hike in variable DA for more than 15 million workers in the central sphere by Rs 105 to Rs 210 per month.
⚫Direct foreign listing: Indian co's face capital gains hurdle. FinMin seeks 10% capital gains tax on transfer of Indian shares.
⚫Four vacancies in the CBDT have not been filled despite the Appointment Committee of Cabinet clearing names in February, exposing administrative gaps.
⚫Air India servers hacked; passengers passport, credit card data leaked. The breach involved personal data registered with the airline between 26 Aug, 2011 and 3 Feb, 2021.
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E-KNOWLEDGE CAPSULE
✒ Supreme Court has upheld provisions of the Insolvency and Bankruptcy Code, 2016 (IBC) allowing lenders to pursue insolvency proceedings against promoter guarantors of companies facing Corporate Insolvency Resolution Process.
✒️ Madras High Court has directed the Centre to file a detailed report indicating the preparations it had made to address exigencies that may arise in the future and the plan in place to allocate COVID-19 vaccines and drugs for the future use of the States and Union Territories.
✒ Karnataka High Court has directed the State government to place on record the steps it has taken to procure 7,04,050 doses of Covishield and 2,44,170 doses of Covaxin, to be given as second doses to people who are due as per timeline framed by body of experts, observing that the situation regarding vaccination in the State of Karnataka continues to be critical.
✒ Karnataka High Court has directed the State government to place on record the actual requirement of Oxygen from 17th May to 24th May, 2021 in the state and the actual quantity of oxygen procured by it.
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👉🏻Banks with assets of more than Rs 15,000 crore must hire two auditors
( Commercial banks and urban commercial banks (UCBs) will have to rope in at least two auditors unaffiliated with each other and have to take prior approval of the RBI for appointment or reappointment of statutory auditors on an annual basis)
👇🏻 👇🏻 👇🏻
https://bit.ly/3fGymFd
👉🏻Personal guarantors accountable in IBC - Supreme Court
(Lenders can initiate insolvency proceedings against promoters, managing directors and chairpersons who have signed personal guarantees on corporate loans in case the borrowers default, the Supreme Court ruled)
👇🏻 👇🏻 👇🏻
https://bit.ly/3f9ifRB
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CBDT - Extension of Due Dates of Filing Returns and TDS/TCS for Tax Payers/Assesses: On Account of the surge in COVID cases, the following dates have been extended by the CBDT
Due date for filing return of income for AY 2021-22 extended to 30th September, 2021 from 31st July, 2021 – Regular Assesses
Due date of Filing Return of Income for Tax Audit Assesses – Extended to 30th November, 2021 from 31st October,2021
Due date of furnishing Tax Audit Report extended to 31st October, 2021 from 30th September, 2021
Due date of Filing Belated/Revised Return of income extended to 31st January, 2022 from 31st December, 2021
Due date of Transfer Pricing Study Report extended to 30th November, 2021
SFT Due date extended to 30th June, 2021 from 31st May, 2021
Statement of Reportable Account - extended to 30th June, 2021 from 31st May, 2021
TDS Statement for Q4 of FY 2020-21 extended to 30th June, 2021 from 31st May, 2021
Form 16 Issue Date – extended to 15th July, 2021 from 15th June, 2021
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📝💡Income Tax (CBDT) Further Due Date Extended beyond May, 2021
📍Extension of time limits of certain compliances to provide relief to taxpayers in view of the severe pandemic and spike in Covid-19 cases.
http://enlightengovernance.blogspot.com/2021/05/income-tax-cbdt-further-due-date.html
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