RBI, Sebi ‘Clash’ Adds to Defaulters’ Resolution Woes
Differences between Reserve Bank of India (RBI) and Securities and Exchange Board of India (Sebi) may delay or possibly even scupper resolution plans of defaulting firms such as DHFL, experts and industry insiders have warned. While the RBI’s word is binding on banks, mutual funds, who are also prominent lenders to many firms, are regulated by Sebi. The market regulator’s
RBI Guv Faces Board Queries on Financial Frauds
Reserve Bank of India (RBI) governor Shaktikanta Das came under pressure at the bank’s board meeting last week, with two external directors questioning how a string of frauds that have surfaced since 2018 remained undetected for years. The two board members referred to the losses suffered by Punjab National Bank, which bankrolled jeweller Nirav Modi and his uncle Mehul Choksi;
FAQs on Financial Services Sector
Frequently Asked Questions on Banking, Insurance and Stock Brokers Sector. Whether Banks are required to capture the details of ATMs in registration certificate as a ‘place of business’? No. Banks are not required to provide the details of ATMs while applying for registration. For the purposes of registration, ATM on its own does not constitute a place of business, as defined in
Multi Vehicle Option for e-Way bill
The new option has been introduced wherein the consignment of one e-way bill has to be moved in multiple vehicles, after moving to transshipment place. For example, an e-way bill is generated and needs to be moved from A to C. Here, the consignment moves from A to B via Rail or bigger vehicle. Now, it is not possible to move
Clarifications in respect of ITR AY 2019-20
The Income-tax Return (ITR) forms for the Assessment Year (A.Y.) 2019-20 were notified vide notification bearing G.S.R. 279(E) dated the O1st day of April, 2019. Subsequently; instructions for filing ITR forms were issued and the software utility for e-filing of all the ITR forms was also released. After notification of the ITR forms, various queries were raised by the stakeholders in respect
GST Audit Manual-2019
It is indeed a great pleasure to provide the GST Audit Manual 2019, after approval by the Board. As you are aware, GST regime commenced w.e.f 1st July 2017. However, the audits under GST had been put on hold primarily for the reason so that the database of returns including Annual Return is available for one full accounting period. Click Here