As widely expected, the Reserve Bank of India (RBI) cut the policy rate on August 7, 2019 to make the economy move and grow once again. Policy rate is the rate around which all interest rates, both bank lending and deposit rate, revolve.The purpose of the central bank’s cut in policy rate is to si...
The Reserve Bank of India (RBI) has recently constituted a task force to work on the development of a secondary market for corporate loans in India. Another panel has been appointed to work on the subject of housing finance securitisation in an effort to strengthen the capital market in India. The c...
INCOME-TAXDue Date Particulars Challan/Form No07/08/2019 Deposit of tax deducted or collected at source ITNS-28114/08/2019 Issuance of TDS certificate for tax deducted under section 194-1A/1B 16B/16C15/08/2019 Issue of (non-salary) TDS certificate for April 2019 to June 2019 16A30/08/2019 Furn...
The Ministry of Corporate Affairs (MCA) stipulated that all companies will have to prepare their financial statements as per the Ind AS. However, all companies will not have to switch over from the erstwhile Accounting Standards (AS) to the Indian Accounting Standards (Ind AS) at the same time and o...
A self-reporting tax system prevails in India. The Income Tax Act of 1961 gives a detailed procedure for the assessment of taxable income. It also provides guidelines on the redressal of disputes arising from such assessments.Such settlements, however, often take decades to complete. They involve lo...
The Legal Entity Identifier (LEI) code is a unique identity number for entities participating in financial transactions including cross border activity. The code is 20-digit number in a standardised format accepted globally. In the present economic scenario, multiple entities are participating in la...
Indian Finance Minister (FM) Nirmala Sitharaman introduced her government’s latest policy move to issue sovereign bonds as a part of the 2019 budgetary proposal. According to government sources, the decision will prevent a crowd-out of private domestic investment in India. However, some experts ar...
India is going through an agricultural crisis. Farmers’ incomes continue to remain low in 2019. On July 20, 2018, the rising farmer suicides led the Ministry of Agriculture and Farmers Welfare to announce, “The government has set a target of doubling of farmers’ income by 2022. The government ...
If the present is not beautiful, the future will be – is how Nirmala Sitharaman has prefaced her maiden Budget. She has talked of doubling farmers’ income by 2022 – something PM Modi often advocated in the past. She spoke of taking electricity to every house in the country. Above all, she pled...
According to a leaked draft report by the Periodic Labour Force Survey (PLFS) of the National Sample Survey Office (NSSO), the unemployment rate in the country in the Financial Year (FY) 2018 amounted to an overall rate of 6.1%, an all-time high in the last 45 years. Data published by the Internatio...
