Category Archives: Banking

CBDT Clarification on eligibility of small Start-ups to avail tax holiday

Central Board of Direct Taxes (CBDT)

The Central Board of Direct Taxes (CBDT) has clarified today that small start-ups with turnover upto Rs. 25 crore will continue to get the promised tax holiday as specified in Section 80-IAC of the Income Tax Act, 1961(the ‘Act’), which provides deduction for 100 per cent of income of an eligible start-up for 3 years out of 7 years from the year of its incorporation.… Read More

MCA | Govt removes Debenture Redemption Reserve requirement for Listed Companies, NBFCs & HFCs

Government removes Debenture Redemption Reserve requirement for Listed Companies, NBFCs and HFCs

PIB News Update| The Ministry of Corporate Affairs has amended the Companies (Share Capital & Debentures) Rules by removing Debenture Redemption Reserve requirement for Listed Companies, NCFCs and HFCs.

The decision has been taken in pursuance of the Budget announcements for 2019-20 by Union Finance & Corporate Affairs Minister Smt. Nirmala… Read More

Finance Ministry | CBDT – to ensure transparency in Tax Administration by bringing in concept of DIN

Central Board of Direct Taxes (CBDT)

With a view to bringing greater transparency in the functioning of the tax-administration and improvement in service delivery, almost all notices and orders of Income Tax Department are being generated electronically on the Income Tax Business Application (ITBA) platform. However, it has been brought to the notice of the Central Board of Direct Taxes (CBDT)… Read More

MCA | Report of the Competition Law Review Committee submitted to Finance & Corporate Affairs Minister

Report of the Competition Law Review Committee submitted

PIB NEWS UPDATE | Shri Injeti Srinivas, Secretary (Corporate Affairs), today presented the Report of the Competition Law Review Committeeto the Union Minister of Finance and Corporate Affairs, Smt. NirmalaSitharaman. The Committee consulted various stakeholders, including industry chambers, professional institutes, Government Departments/ … Read More

MD SBI Dinesh Kumar Khara gets 2 year extension

Dinesh Kumar Khara MD SBI

Shri Dinesh Kumar Khara presently Managing Director (MD), State Bank of India (SBI) , has been given extension in the term of office, Department of Financial Services for a further period of two years with effect from 09.08.2019.

Indian Bureaucracy Dot Com wishes Shri Dinesh Kumar Khara the very best.… Read More

Finance Minister meets Bankers and reviews the Bank performance

Finance Minister meets Bankers and reviews the Bank performance

Smt. Nirmala Sitharaman, Union Minister of Finance & Corporate Affairs reviewed the performance of banks, here, today in a meeting with the top management of Public Sector Banks, HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank and Citi Bank. RBI Deputy Governor N. S. Vishwanathan also participated in the review.

Today’s meeting is the first of … Read More

Rajiv Jain IRS takes charge as Principal Chief Commissioner- Tamil Nadu & Puducherry

Rajiv Jain IRS

Shri Rajiv Jain IRS (1984) has taken over charge as Principal Chief Commissioner of Income-tax, Tamil Nadu & Puducherry i.e. 26.07.2019, on promotion, from Shri N. Sankaran, Principal Chief Commissioner of Income-tax, Andhra Pradesh & Telangana. He belongs to the 1984 Batch of Indian Revenue Service Officers. He has worked in various capacities… Read More

S M N Swamy takes charge as RBI Regional Director

S M N Swamy RBI

Shri S M N Swamy has assumed charge as Regional Director of Reserve Bank of India, Chennai. He will be in-charge of Tamil Nadu and Union Territory of Puducherry.  Prior to this Shri Swamy was Regional Director of Thiruvananthapuram for over three years. Shri S M N Swamy is a post-graduate in Commerce from Sri Venkateswara University, Tirupati. He joined RBI as… Read More

Dr Subir V Gokarn ED- IMF India passes away

subir-gokarn

Dr. Subir Vithal Gokarn, the Executive Director for India at the International Monetary Fund (IMF), passed away on July 30, 2019 in USA after a brief illness. Born on October 3, 1959, Dr. Gokarn has had an illustrious career spanning over three decades. A noted economist, he joined the IMF Executive Board as ED (India) in December 2015 and was to complete his term… Read More

Home Minister receives dividend for FY 2018-19 from Repco Bank

HM cheque

Union Home Minister Shri Amit Shah received a dividend cheque of Rs. 15.26 crores from the representatives of Repco Bank at New Delhi .Repco Bank is a multi state cooperative society established in 1969 by the Government of India for the rehabilitation of repatriates from Burma and Sri Lanka and is under the administrative control of Ministry of Home Affairs.… Read More

Income Tax Department celebrates Aaykar Diwas 2019

 Income Tax Department

The Central Board of Direct Taxes (CBDT) and all field offices will be observing and celebrating the 159th Income Tax Day i.e. AaykarDiwas on 24th July, 2019. It was on 24th July, 1860 that Income Tax was introduced for the first time in India by Sir James Wilson to compensate for the losses incurred by the British regime during the first war of independence against… Read More