Reference: Central Board of Direct Taxes
Update:
Exemption of Income of Multi Commodity Exchange Clearing Corporation Limited, Mumbai:
CBDT has notified Core Settlement Guarantee Funds set up by the Multi Commodity Exchange Clearing Corporation Limited, Mumbai for the purpose of clause (23EE) of section 10 of the Income-tax Act, 1961 for the assessment year 2020-2021 and subsequent assessment years.
Update:
Exemption of Income of IDFC Infrastructure Finance Limited:
CBDT has notified IDFC Infrastructure Finance Limited for the purpose of clause (47) of section 10 of the Income Tax Act, 1961 for the assessment year 2020-2021 and subsequent assessment years.
Reference: Central Board of Indirect Taxes and Customs
Update:
Extension of Due date for filing FORM GST CMP-08:
CBIC has extended the last date for furnishing the statement containing the details of payment of self-assessed tax in said FORM GST CMP-08 for the quarter July-September 2019 by four days from 18th October 2019 till 22nd October 2019
Implication:
This notification shall be deemed to have come into force with effect from the 18th day of October, 2019
Reference: Ministry of Corporate Affairs
Update:
Relaxation of additional fees and extension of last date for filling of form IEPF-1A and FORM IEPF-2:
MCA has relaxed the additional fees payable by companies on filing of FORM IEPF-1A upto 31st December 2019 and Form IEPF-2 upto 30th November 2019.
Implication:
Stakeholder will have more time to file form IEPF-1A and FORM IEPF-2
Update:
Relaxation of additional fees and extension of last date of filing FORM CRA-4 (COst Audit Report) for FY 2018-19:
MCA has extended last date for filing of CRA 4 (Cost Audit Report) for all eligible companies for the FY 2018-19, without payment of additional fee till 31st December 2019. The above extension is given for the entire process starting from Preparation of Annexures to the Cost audit Report to submission of Cost Audit Report by the Cost Auditor to the Company and finally filing of Cost Audit Report by the Company with Central Government.READ MORE
Implication:
Stakeholder will have more time to file CRA 4(Cost Audit Report)
Reference: Reserve Bank of India
Update:
Extension of RBI\’s direction period: Shivajirao Bhosale Sahakari Bank Ltd., Pune
RBI has extended the period of directions issued on 3rd May 2019 to be followed by Shivajirao Bhosale Sahakari Bank Ltd till 4th May 2020.
Implication:
The aforesaid extension and or modification by the Reserve Bank of India should not per-se be construed to imply that Reserve Bank of India is satisfied with the financial position of the bank.
Update:
Extension of RBI\’s Direction Period: The Needs of Life Co-op. Bank Ltd., Mumbai:
The Needs of Life Co-op. Bank Ltd., Mumbai, Maharashtra, was placed under Directions from close of business on October 29, 2018 and the validity of the directions was extended till October 29, 2019, subject to review. RBI has extended the validity of directions for further period of six months from October 30, 2019 to April 29, 2020.
Implication:
The aforesaid extension and or modification by the Reserve Bank of India should not per-se be construed to imply that Reserve Bank of India is satisfied with the financial position of the bank.
