26th May 2K21
Ø RBI meets heads of private sector banks to assess Covid impact
Ø CIL's coal allocation to power sector under e-auction drops 28% in April
Ø India's foodgrain output to rise 2.66% to record 305.43 MT in 2020-21, says government
Ø HPCL shuts 70,000 bpd fire-hit crude unit at Vizag refinery
Ø BPCL may sell some stake in IGL, Petronet to shed promoter status
Ø Britain opens 14-week consultation to fire 'starting gun' on FTA with India
Ø HDFC to raise up to Rs 7,000 cr by issuing bonds on private placement basis
Ø Adani Total, Apollo Hospitals, Chola could move to MF large-cap universe
Ø PharmEasy acquires Medlife, becomes India's largest e-pharma company
Ø Thermax March-quarter net jumps nearly three-fold to Rs 107 crore
Ø AstraZeneca Pharma India Q4 net profit up nearly 3-fold to Rs 27.27 cr
Ø Emami Q4 PAT up four-fold YoY to Rs 88 cr, drops 58% sequentially
Ø Barclays cuts India’s FY22 GDP estimate to 9.2%
Ø India's Q4 GDP growth likely to be better than estimates
Ø SBI research projects Q1FY22 real GDP growth at 10-15%
Ø Piramal Group files application in NCLAT on DHFL
Ø No major impact of pandemic on client deliverables: Infosys
Ø Marico hopes margins will recover as copra prices fall
Ø Low base of FY21 & good monsoon will help recovery in auto sales: India Ratings
Ø Sentieo raises $20 million in Series B funding round
Ø Pfizer ready to supply 5 crore Covid-19 doses to India this year: Report
Ø Bitcoin slips below $38,000 in a retreat from Monday’s rally
Ø Atlan raises $16 million in Series A funding led by Insight Partners
Ø NHPC awards Rs 188 cr contract to Tata Power Solar Systems
Ø Strides Ventures announces new fund, targets corpus of up to Rs 1,875 crore
Ø Alkem Labs Q4 profit up 30 pc at Rs 249 cr
Ø RBI Framework 2.0: SBI Card Puts In Place Mechanism For COVID Stress Relief
Ø Jaypee Infratech Case: Erstwhile Promoter JAL Demands Coc To Consider Its Offer
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⚫India's foodgrain production is estimated to rise 2.66% to a new record of 305.43 million tonnes in the current crop year 2020-21, on better output of rice, wheat and pulses amid good monsoon rains
⚫Post new IT rules deadline, social media cos' future looks dark. Companies qualifying as intermediaries may lose safe harbour protection under existing law.
⚫Govt to seek approval from Cabinet to set up a land bank company that will sell land parcels of govt depts and PSUs.
⚫GST panel rejects demand for tax waiver on Covid-19 vax, ventilator. It has recommended a short-term rate cut on four Covid-19 related items.
⚫Around 1.2 million new members joined the ESIC-run social security scheme in March.
⚫Senior IPS officer Subodh Kumar Jaiswal 1985 batch IPS officer of Maharashtra cadre, appointed as the new CBI chief for two years.
⚫India administers over 20 crore Covid vaccine doses till May 25.
⚫India records 208886 cases, 4,172 deaths in past 24 hrs.
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CBDT issues clarification wrt limitation for filing of appeals before CIT(Appeals) under Income-tax Act,1961 in consonance with directions issued by Hon'ble Supreme Court in Suo Motu WP(Civil) No 3 of 2020 vide order dt 27th Apr, 2021. Circular No 10 of 2021 dt 25.05.2021 issued.
Central Board of Direct Taxes has notified a new rule for computation of fair market value of capital assets in slump sale. As per the amendment made to the income tax rules, the new Rule 11UAE under section 50B has given two formulae for calculation and has stated that the fair market value will be the higher among the two values.
e-way bill can be generated for Purchases made by non-filers. Restriction to apply only to Sales made by them. Notification 15 /2021 CT of 18.5.21.
GST: Provisional Attachment cannot be continued beyond the period of one year. Case Name : Jackpot Exim Private Limited Vs Union of India (Allahabad High Court). Courts : All High Courts Allahabad High Court
Centre will appeal against the Delhi High Court decision striking down the reduced integrated goods and services tax (IGST) levied on oxygen concentrators received as a gift from outside India by individuals, said a senior government official. The court called the levy unconstitutional.
Stock brokers’ association Anmi has urged the markets regulator, Sebi to reconsider the proposed 100 per cent levy on intra-day trade peak margins, as the higher-margin will reduce hedging opportunities. In a letter to Sebi on May 15, the Anmi said there is a great disconnect between what is being collected from clients and what needs to be collected vis-a-vis the attendant risks arising in intraday trades.
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👉🏻Cabinet approves MoUs entered into by ICoAl & ICSI with Foreign Countries/Organisations
(The Institute of Cost Accountants of India & the Institute of Company Secretaries of India have signed MoUs with foreign organisations namely IPA Australia, CISI UK, CIPFA UK, Institute of Certified Management Accountants, Sri Lanka and ICSA UK)
👇🏻 👇🏻 👇🏻
https://bit.ly/3oXggTx
👉🏻RBI Guidelines for Appointment of Statutory Central Auditors / Statutory Auditors of Commercial Banks, UCBs & NBFCs
(These guidelines will be applicable to the Commercial Banks (excluding RRBs), UCBs and NBFCs including HFCs for Financial Year 2021-22 and onwards)
👇🏻 👇🏻 👇🏻
https://bit.ly/3vmpZFx
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Audit Quality Maturity Model not applicable to CA Firms doing Branch Audits Only: ICAI clarifies
Read More: https://www.taxscan.in/audit-quality-maturity-model-not-applicable-to-ca-firms-doing-branch-audits-only-icai-clarifies/116011/
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