Clipped from: https://www.thehindubusinessline.com/news/national/defer-auditor-appointment-by-at-least-two-years-cii-tells-rbi/article34627470.ece Phase-wise implementation of norms will ensure better compliance, suggests industry chamber A significant policy measure such as this should not be applied retrospectively
Day: May 25, 2021
Mudra Loans: Govt wants lenders to step up focus on Mudra loans – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/govt-wants-lenders-to-step-up-focus-on-mudra-loans/articleshow/82889995.cms Synopsis“We are also considering extending the interest subvention of 2% on prompt repayment of Shishu loans sanctioned under the Pradhan Mantri Mudra Yojana
Reserve Bank of India surplus is rightfully the government’s – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-editorial/reserve-bank-surplus-is-rightfully-gois/articleshow/82917954.cmsSynopsis In this unprecedented time of economic contraction and much uncertainty, the larger RBI dividend would proactively improve government finances and reduce market borrowings.
RBI’s norms pit Indian auditors against MNCs – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/rbis-norms-pit-indian-auditors-against-mncs/articleshow/82919795.cmsSynopsis On April 27, the central bank had issued guidelines for appointment of statutory auditors in commercial banks, non-banking financial companies and housing finance
Concept of joint audit has worked very well: Amarjit Chopra, ex-president, ICAI – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/services/consultancy-/-audit/concept-of-joint-audit-has-worked-very-well/articleshow/82921510.cmsSynopsis “As per the new norms, there shall be joint audits in certain entities beyond a threshold. Can having two auditors or more instead
Vehicle unit sales forecast down 5-10 percentage points for FY22 – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/auto/cars-uvs/vehicle-unit-sales-forecast-down-5-10-pp-for-fy22/articleshow/82926310.cmsSynopsis Vehicle retailing in India declined more than 30% in April, registration data showed, and is expected to fall to just a quarter of
How to improve corporate governance – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/how-to-improve-corporate-governance/article34635949.ece Rather than introduce more regulations, SEBI must tweak the norms depending on a company’s track record Corporate governance, as a topic, gained importance
WhatsApp’s privacy policy changes violate consumer rights – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/editorial/whatsapps-changes-to-its-privacy-policy-are-violative-of-user-privacy-and-consumer-rights/article34636033.ece The government’s response to such indiscretions by tech giants has been inadequate Now that WhatsApp has clearly indicated in its response to the
GST Council meet on Friday; pvt fintech firms set to enter e-invoicing zone | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/gst-council-meet-on-friday-pvt-fintech-firms-set-to-enter-e-invoicing-zone-121052401577_1.html GST Council may green-light entry given disappointing progress The Goods and Services Tax (GST) Council on Friday will discuss bringing in private financial technology companies
The time has come for a states income tax | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/the-time-has-come-for-a-states-income-tax-121052400287_1.html What better way is there to empower states than for them to have their own income tax and have a greater degree of
Fiscal vs monetary policy, under uncertainty | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/fiscal-vs-monetary-policy-under-uncertainty-121052401432_1.html Heightened uncertainty from a second wave is likely to increase the relative efficacy of fiscal vis-a-vis monetary policy The first of this two-part
Google now lets you password-protect page that shows your searches | Business Standard News
Clipped from: https://www.business-standard.com/article/technology/google-now-lets-you-password-protect-page-that-shows-your-searches-121052500301_1.html In a bid to help protect browsing history and search activities of its users from others to see, Google will now let them
Tips on handling tax matters and digital assets of a deceased person | Business Standard News
Clipped from: https://www.business-standard.com/article/pf/tips-on-handling-tax-matters-and-digital-assets-of-a-deceased-person-121052100838_1.html Legal heirs must file tax returns for income earned in the year the dead passed away Benjamin Franklin’s famous quote: “In this world
Banks in India report loan fraud worth Rs 5 trn, SBI’s amount largest | Business Standard News
Clipped from: https://www.business-standard.com/article/finance/banks-in-india-report-loan-fraud-worth-rs-5-trn-sbi-s-amount-largest-121052400494_1.html Data showed 90 banks and financial institutions reported a total of 45,613 cases of loan fraud till March 31, 2021 The entity backed
SC order on personal guarantors thorn in the side of biz families | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/sc-order-on-personal-guarantors-thorn-in-the-side-of-biz-families-121052401569_1.html?utm_source=Spotlight&utm_medium=website&utm_campaign=Premium_11072018 Lack of clarity between legitimate succession planning and evasion is a worry, say experts Illustration: Ajay Mohanty Business families that have undertaken estate
Double-digit unemployment rate makes a return | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/double-digit-unemployment-rate-returns-121052400643_1.html The unemployment rate touched 14.5 per cent in the week ended May 16, 2021 The unemployment rate has moved into double-digits. This is
What to make of RBI’s QE: The govt was the winner in 2020 and is so again, in the latest round – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/what-to-make-of-rbis-qe-the-govt-was-the-winner-in-2020-and-is-so-again-in-the-latest-round/2258236/ The curious part of this QE exercise was that all these measures were invoked at a time when there was surplus liquidity in
Bank can take away assets of guarantor if loan not repaid on time – The Financial Express
Clipped from: https://www.financialexpress.com/money/your-queries-loans-bank-can-take-away-assets-of-guarantor-if-loan-not-repaid-on-time/2258181/ First, you should ask the two known parties to find another guarantor to their loan. When a person stands in as a guarantor,
Is it possible for tax deductors to verify if payee has filed ITR in last 2 years? – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/tax-talk-is-it-possible-for-tax-deductors-to-verify-if-payee-has-filed-itr-in-last-2-years/2258165/ The government, vide Budget 2021,introduced new provisions under Section 206AB/206CCA that prescribe a double rate of TDS/TCS for those, who despite having a
India plans stimulus package for sectors worst affected by second wave – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/sme-sector/india-plans-stimulus-package-for-sectors-worst-affected-by-second-wave/articleshow/82933881.cmsSynopsis In April, the finance ministry eased rules for capital expenditure by government departments to try to boost spending in the economy. Pressure also
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