E India CA

Professional Updates for Chartered Accountants

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Day after Narendra Modi’s big victory, foreign funds bought Indian bonds

Modi’s re-election put to rest any uncertainty about a diverse group of political parties coming to power at a time when growth is already slowing Global investors piled a net $216.3 million into Indian bonds Global investors piled a net $216.3 million into Indian bonds on Friday, the day after Prime Minister Narendra Modi’s s...

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Benchmark bond yield at over 1-year low; here’s what investors may expect

The benchmark 10-year bond yield on Monday fell to the lowest level in over a year tracking decline in the crude oil prices and fresh OMO announcement by the RBI. The benchmark 10-year bond yield on Monday fell to the lowest level in over a year tracking decline in the crude oil prices and fresh OMO announcement by the RBI. The y...

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New direct tax code draft by July-end

Finance minister Arun Jaitley extends deadline till 31 July for a task force to come up with a new draft direct tax codeThe proposed new direct tax code will replace the Income Tax Act of 1961NEW DELHI: The government on Friday gave two months extra time to a task force comprising tax officials and outside experts to come up with a ...

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SBI cuts MCLR across all tenors by 5 bps

The State Bank of India (SBI), announced on Friday that it has reduced its marginal cost-based lending rate (MCLR) by 5 bps across all tenors. According to a press release issued by the bank, after the 5 bps cut, the 1-year MCLR will come down from 8.5 percent per year to 8.45 percent. "As a result, interest rates on all loans linked...

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Independent directors face mandatory e-registration

All independent directors may have to register as part of a new initiative by the ministry of corporate affairs (MCA), which also plans to introduce online training modules on various issues that these board members deal with. While registration is proposed to be made mandatory through an online facility, the training through electro...

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Policy to boost exports on anvil as trade deficit hits new high of $176 bn

The Central Board of Indirect Taxes and Customs (CBIC) has set up a working group to look into export promotion policy,the impact of free trade agreements (FTAs) signed by India,tariff concessions vis-à-vis non-tariff barriers faced by exporters, and facilitating e-commerce exports. “We are looking into issues faced by exporter...

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Attention Income Tax Return filers! Are you aware of these 5 changes

The last date for filing Income Tax Return (ITR) for the assessment year 2019-20 is July 31, 2019. After the refund is determined, it is processed by the tax department. It can be checked online either through the income tax e-filing portal or through the NSDL website. ITR filing required various documents which is why it is impo...

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Annual DIR 3 (KYC) Due Date extended to 30 June: MCA Notification dt. 30 April 2019

MCA has notified that the Deadline for Annual Filing of Form DIR 3 ((KYC of Directors) has been Extended from 30 April to 30 June, of the immediately next financial year, i.e. the due date for filing of DIR 3 (KYC of Directors) for Financial Year 2018-19 has been extended from 30 April 2019 to 30 June 2019. G.S.R. (E).- In exercise ...