All the Account holders of aforesaid banks which were merged with SBI Bank, they are required to have new cheque book by 31st December, 2017 bearing new IFS code.

Section 164 of the Companies Act, 2013, provides the events which result in disqualification of directors. For those director who had been disqualified

The merchant banking arm of SBI, for both loan appraisals as well as loan restructuring and even project appraisals.

The complaint handling regulations have been implemented by Insolvency and Bankruptcy Board of India (IBBI). In the procedure, the complaint filing fee will be refunded to the stakeholder in case the complaint is found to be not “frivolous or malicious”. This will be applicable to all stakeholders, including creditors, debtors and service providers. A stakeholder … Continue reading “Complaint handling regulations are implemented by IBBI”

Last month the Central Board of Excise and Customs (CBEC) started Goods and Services Tax (GST) refunds for exporters who have paid Integrated GST (IGST) and have claimed refund based on shipping bill by filling up Table 6A. Earlier this month, it allowed businesses making zero-rated supplies or those who have paid IGST on exports … Continue reading “10,000 Applications filed for GST Refunds by Exporters”

Government is setting up an independent body, National Financial Reporting Authority (NFRA) to check Financial Statements, prescribe Accounting Standards and take disciplinary action against devious accounting professionals. Around 2.24 lakh companies have been struck-off till date for remaining inactive for a period of 2 years or more by the Ministry of Corporate Affairs (MCA), Government … Continue reading “Strict action to be taken against devious Accounting Professionals”

To simplify the Incorporation related process for the ease of doing business to stakeholders, MCA will be dispensing with the requirement of separately uploading Forms 49 A& 49B after filing SPICe e-forms. It will be in effect from 6 PM of 4th November 2017, stakeholders will NOT be required to upload signed 49A/49B using “Submit … Continue reading “Separate application not needed for PAN in MCA from November 4”

The central government cleared the pay commission recommendation for revision in salaries for teachers and academic staff. There is good news for as many as 758,000 teachers and other academic staff at 106 Institutions under the Union government and 329 Universities that are funded by various State governments. Including 12,912 government and private supported colleges affiliated … Continue reading “7th Pay Commission provides Salary hike to teachers”

Reserve Bank of India (RBI) has published new rules that apply to all cards (Debit/Credit/Prepaid), Net-banking, e-Wallets/Payment Bank Account, fund transfer Transaction.

Mandatory Aadhar card requirement is in addition to the requirement of PAN details or Form 60 already in place.

At the time of filing revised tax returns who showed a sudden spike in income after demonetization should now prepare themselves to face scrutiny.

Six months after setting up an independent committee to oversee interest rates, the government is expressing frustration that RBI chose not to ease monetary policy.

RBI signals end to rate cuts as inflation risks rise RBI keeps policy rate on hold, with eyes on inflation RBI keeps policy rate on hold for second meeting in a row.

Finance Minister Arun Jaitley said India growing at 7-8 percent which is “fairly reasonable” in the current global context.

The Income Tax Department said taxpayers to link their Aadhaar with their PAN, using an SMS-based facility.