Feb 01, 2019

Key Highlights of Interim Budget FY 2019-20

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Jun 06, 2019

Article by our Partner M Siva Ram Prasad in ICAI Journal

<!-- wp:paragraph --> <p>Dear Sir/Madam,</p> <!-- /wp:paragraph --> <!-- wp:paragraph --> <p><br>We take immense pleasure in informing you that the article by our Partner Sri. M Siva Ram Prasad on <strong>"Loan Frauds and Forensic Audit"</strong> is published in Institute of Chartered Accountants of India Journal - June 2019.<br>We are attaching a copy for your perusal. Below is the link to the article.</p> <!-- /wp:paragraph --> <!-- wp:paragraph --> <p><a href=""></a></p> <!-.....

Oct 16, 2019

Changes in Liquidty Adjustment Facillity – Repo and Reverse Repo rates

<!-- wp:paragraph --> <p>RBI vide notification no. RBI/2019-20/75 dated October 04, 2019 it was announced as per the fourth Bi-monthly Monetary policy statement 2019-20 of October 04,2019. It has been decided by the Monetary Policy Committee (MPC) to reduce the policy <strong>Repo rate</strong> under the Liquidity Adjustment Facility (LAF) by 25 basis points <strong>from 5.40% to 5.15%</strong>. Consequently the <strong>Reverse Repo rate</strong> under the LAF stands adjusted to <strong>4.90%</strong>.</p> <!-- /wp:paragraph --> <!-- wp:paragraph --> <p><a href="

Sep 15, 2021

Asset Classification and Income Recognition following the expiry of Covid-19 regulatory package

<!-- wp:paragraph --> <p>RBI vide Notification No. RBI/2021-22/17 has notified the Asset Classification and Income Recognition following the expiry of Covid-19 regulatory package.<br> I. Refund/adjustment of ‘interest on interest’<br> i. All lending institutions shall immediately put in place a Board-approved policy to refund/adjust the ‘interest on interest’ charged to the borrowers during the moratorium period, i.e. March 1, 2020 to August 31, 2020 in conformity with the above judgement.<br> ii. Methodology for calculation of the amount to be refunded/adjusted for different facilitie.....

Sep 15, 2021

Setting up of Limited Purpose Clearing Corporation (LPCC) by Asset Management Companies (AMCs) of Mutual Funds

<!-- wp:paragraph --> <p>SEBI vide circular No. SEBI/HO/IMD/IMD-1DOF2/P/CIR/2021/0548 dated 6th April, 2021 has decided to amend the amount of contribution from AMCs towards share capital of LPCC.<br> In consideration of the representation received from AMFI, it has been decided that the contribution of AMCs shall be based on Average AUM (Assets under Management) of debt-oriented schemes for the Financial Year (FY) 2020-21.</p> <!-- /wp:paragraph --> <!-- wp:paragraph --> <p><a href="

Sep 15, 2021

Regulatory reporting by AIFs (Alternative Investment Funds)

<!-- wp:paragraph --> <p>SEBI vide circular No. SEBI/HO/IMD/IMD-I/DOF6/CIR/2021/549 dated 7th April, 2021 has decided that all AIFs shall submit report on their activity as an AIF to SEBI on quarterly basis within 10 calendar days from the end of each quarter.</p> <!-- /wp:paragraph --> <!-- wp:paragraph --> <p><a href=""></a></p> <!-- /wp:paragraph -->.....

Sep 15, 2021

Amendment to Schedule III of the Companies Act., 2013

<!-- wp:paragraph --> <p>MCA wide Notification dated 24th March, 2021 has made amendments to the Schedule III of the Companies Act, 2013.<br>The amendments can be referred through the following link:</p> <!-- /wp:paragraph --> <!-- wp:paragraph --> <p><a href=""></a></p> <!-- /wp:paragraph -->.....

Sep 15, 2021

Procedure for seeking prior approval for change in control of SEBI registered Portfolio Managers

<!-- wp:paragraph --> <p><strong>SEBI registered Portfolio Managers</strong></p> <!-- /wp:paragraph --> <!-- wp:paragraph --> <p>SEBI vide circular No. SEBI/HO/IMD/IMD-I/DOF1/P/CIR/2021/564 dated 12<sup>th</sup> May, 2021 has stated that Regulation 11(aa) of SEBI(Portfolio Managers) (Second  Amendment)  Regulations,  2021 provides that a Portfolio Manager shall obtain prior approval of SEBI in case of change in control in such manner as may be specified by SEBI. Accordingly, it has been decided that all SEBI registered Portfolio Managers .....

Sep 21, 2021

Guidelines under section 194Q of the Income-tax Act, 1961

<!-- wp:paragraph --> <p></p> <!-- /wp:paragraph --> <!-- wp:paragraph --> <p> <br>Income tax vide Circular No. 75/2021 dated 25th June, 2021 has Issued guidelines under Section 194Q of the Income Tax Act, 1961.<br> i. Finance Act, 2021 inserted a new section 194Q in the Income-tax Act 1961 which takes effect from 1st July, 2021. It applies to any buyer who is responsible for paying any sum to any resident seller for purchase of any goods of the value or aggregate of value exceeding fifty lakh rupees in any previous year.<br> ii. The buyer, at the time of credit of such sum to the account of .....