Financial transactions undertaken through home and mobile channels increased from 29% in FY 2018-19 to 76% in FY 2020-21. Nearly 72% of financial transactions of PSBs done through digital channels.
ICMAI has extended the last date for registration/admission/enrolment to the CMA Foundation, Intermediate and Final Course to 10th August 2021 for the December 2021 term of examinations.
Shri Pankaj Chaudhary stated that the net direct tax collection in the 1st quarter of FY 2021-2022 is Rs. 2,46,519.82 crore as against Rs. 1,17,783.87 crore during the same period of previous FY 2020-21.
As per information received from the Reserve Bank of India, the total amount of unclaimed deposits of Scheduled Commercial Banks was Rs. 24,356 crore, as on 31.12.2020. Unclaimed deposits have increased by Rs. 5,977 crore in the year 2020.
A total of 320 foreign companies registered in the country during the last three years. This was stated by Union Minister of State for Corporate Affairs Shri Rao Inderjit Singh in a written reply to a question in Rajya Sabha.
Shri Rao Inderjit Singh further stated that the Special Task Force set up by the Government to look into the issue of "Shell Companies" has inter-alia recommended the use of certain red flag indicators as alerts for identification of Shell Companies.
The taxpayers can now see the exact Annual Aggregate Turnover for the previous FY, instead of just the two slabs of Above or Upto Rs. 5 Cr. Taxpayers can also see the AATO of the current FY based on the returns filed to date.
In view of the challenges faced by taxpayers due to the outbreak of COVID-19, the Government of India has taken several taxation related measures for MSMEs. Financial Assistance has also been provided to MSMEs.
ICAI has released the 12th Edition of the Code of Ethics for its members. The revised edition of the code has come into effect from 1st July 2021. Download links of the three volumes of the Code has been given in this news piece.
Shri Pankaj Chaudhary stated that 20 states were allowed additional borrowing of Rs 39,521 crore during 2020-21 for implementation of EoDB reform and it is a continuous process and its outcome would be visible in due course.
Live class on PF & ESI Enrollment & Returns Filing(with recording)
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