CORONA VIRUS OUTBREAK

Current and Corporate Affairs as on 26 October 2020

Current and Corporate Affairs as on 26 October 2020

Current and Corporate Affairs as on 26 October 2020 COVID-19 NEWS India’s COVID-19 recovery rate touches 90 per cent: India has crossed a significant milestone in its fight against COVID, as the recovery rate reached 90 per cent yesterday. Over 70 lakh patients have recovered from this highly infectious disease in the country so far. …

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Current and Corporate Affairs as on 23 October 2020

Current and Corporate Affairs as on 23 October 2020

Current and Corporate Affairs as on 23 October 2020 COVID-19 NEWS Brazil’s President Bolsonaro rejects purchase of coronavirus vaccine from China: Brazil’s President Jair Bolsonaro has decided on Wednesday to cancel the purchase of Coronavac, a COVID-19 vaccine in phase-3 clinical trials by Chinese firm Sinovac. A day before, on Tuesday, Health Minister Eduardo Pazuello …

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Message to the Future CA Caught in a Mundane 2020

Message to the Future CA Caught in a Mundane 2020

Message to the Future CA Caught in a Mundane 2020 The world over in standstill,Hailing a pandemic that seeks to break its will.After being cozy with ‘lockdown’ since Jan,A CA student, who now every 20 days needs a renewed plan! To Family, it’s one extra revision,To Friends, some fun banter ka another reason.We have always radiated, come …

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Atmanirbhar Bharat with Current Equity M&A Tax Rules?

Atmanirbhar Bharat with Current Equity M&A Tax Rules?

Atmanirbhar Bharat with Current Equity M&A Tax Rules? “Mergers are like marriages. They are the bringing together of the two individuals. If you wouldn’t marry someone for the operational efficiencies they offer in the running of a household, then why would you combine two companies with unique culture and identities for that reason?” Simon Sinek …

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FIRST TIME IN THE HISTORY OF RELIANCE : AGM HELD THROUGH ITS OWN PLATFORM

First Time in the History of Reliance : AGM Held through Its Own Platform Reliance’s 43rd AGM Today : Shareholders become part of the event through the Jio Meet video conferencing app Key Highlights Mukesh Ambani’s wife Nita Ambani addressed Reliance’s AGM for the first time. Nita Ambani said that under the Mission Anna Seva, …

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IF THERE IS A WILL >> THERE IS A WAY

IF THERE IS A WILL >> THERE IS A WAY

If there is a Will >> there is a Way “Jabong, Swiggy, BYJU’s, BookMyShow, Paytm, Snapdeal, Ola, Quikr and many others“ 👉 What is that thing which is common among them? 👉 Yes! they all are STARTUP along with E-BUSINESS facility. “Don’t start a company unless it’s an obsession and something you love. If you …

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WHY INTEREST WHEN EMI HAS BEEN DEFERRED?

WHY INTEREST WHEN EMI HAS BEEN DEFERRED?

Why Interest when EMI has been Deferred? On a petition by an Agra trader asking for interest on loans to be waived during RBI’s EMI moratorium, the Supreme Court has sent a notice to the central government and the Reserve Bank of India (RBI) following a petition seeking relief on interest being charged during the …

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GST CALENDAR FOR THE MONTH OF JUNE 2020

GST CALENDAR FOR THE MONTH OF JUNE 2020

GST Calendar for the Month of June 2020 Type of compliance Extended due date Notification/ Circular Remarks Filing of Tran-1 30-06-2020 43/2020- Central Tax dt 16th May, 2020 To give the effect of the verdict passed by Hon’ble Delhi High court in the case of Brand Equity Treaties Ltd v/s Union of India. IRP/RP should …

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MSME FUTURE COURSE OF ACTION AFTER LOCKDOWN

MSME future course of action after lockdown In India we have completed more than 6 weeks of lockdown. The phase of life which we everyone doesn’t think in their dreams. Almost all the countries are into lockdown, and businesses across the globe are operating in fear of an impending collapse of global financial markets and …

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MHA ISSUES REVISED GUIDELINES FOR LOCKDOWN 4.0

MHA ISSUES REVISED GUIDELINES FOR LOCKDOWN 4.0

MHA Issues Revised Guidelines for Lockdown 4.0 Thanks for Reading our Article on “MHA Issues Revised Guidelines for Lockdown 4.0” You May Also Like : Highlights of “Aatma Nirbhar Economic Package” : Part-5 Follow Us on LinkedIn for Job Updates : Click Here to Visit LinkedIn Profile You May Also Like : Tax Defaulters Be …

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HIGHLIGHTS OF "AATMA NIRBHAR ECONOMIC PACKAGE" : PART-5

HIGHLIGHTS OF “AATMA NIRBHAR ECONOMIC PACKAGE” : PART-5

Highlights of “Aatma Nirbhar Economic Package” : Part-5 KEY HIGHLIGHTS : Today’s steps will focus on these seven areas : > MGNREGA > Health and Education > Businesses and Covid > Decriminalization of Company’s Act > Ease of doing business > Public Sector Enterprises and related matters > State governments and resources related to state …

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Due date for 18-19 ITR filing extended and also additional relief to Senior citizens

HIGHLIGHTS OF “AATMA NIRBHAR ECONOMIC PACKAGE” : PART-4

Highlights of “Aatma Nirbhar Economic Package” : Part-4 OVERVIEW OF PAST THREE TRANCHES : The first tranche included measures for small businesses, the second aimed at helping migrant workers and the third aimed at Agriculture, Farmers and Workers. KEY HIGHLIGHTS : STRUCTURAL REFORMS ARE THE FOCUS OF THESE ANNOUNCEMENTS : Which are new horizons of …

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HIGHLIGHTS OF "AATMA NIRBHAR ECONOMIC PACKAGE" : PART-3

HIGHLIGHTS OF “AATMA NIRBHAR ECONOMIC PACKAGE” : PART-3

Highlights of “Aatma Nirbhar Economic Package” : Part-3 OVERVIEW OF FIRST TWO TRANCHES : The first tranche included measures for small businesses, the second aimed at helping migrant workers. KEY HIGHLIGHTS : (1.) Today’s initiatives 11 measures today includes : 11 booster shots for India’s farmer : > 8 relating to strengthening infrastructure, capacity, logistics. …

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HIGHLIGHTS OF "AATMA NIRBHAR ECONOMIC PACKAGE" : PART-2

HIGHLIGHTS OF “AATMA NIRBHAR ECONOMIC PACKAGE” : PART-2

Highlights of “Aatma Nirbhar Economic Package” : Part-2 Poor, including Migrants and Farmers Free Food grain Supply to Migrants for 2 months : > Migrants in various states require food-grain assistance> Migrants who are neither NFSA or State Card beneficiaries in the state they are stationed will be provided 5 kg of grains per person …

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HIGHLIGHTS OF "AATMA NIRBHAR ECONOMIC PACKAGE"

HIGHLIGHTS OF “AATMA NIRBHAR ECONOMIC PACKAGE”

Highlights of “Aatma Nirbhar Economic Package” : Various measures have been taken to make “Aatma Nirbhar Bharat”. Let’s have a look on all measures : (1.) MSME (2.) EPF (3.) NBFCs : YOU MAY ALSO LIKE : COVID-19 AND INDIAN TAX REGIME RESIDENTIAL STATUS (4.) DISCOMs : (5.) CONTRACTORS : (6.) DIRECT TAX : Thanks …

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TAX DEFAULTERS BE ALERT

TAX DEFAULTERS BE ALERT : TAX DEPARTMENT IS NOT ON LEAVE

Tax Defaulters Be Alert : Tax Department is Not on Leave Key highlights > Tax department is not silent during COVID-19 ; > CBDT asked officers to not issue notices for now ; > Collect data that will help settle pending litigation ; > Using the lockdown to build stronger cases against defaulters. Overview Due …

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BIG RELAXATION TO LIFE INSURANCE POLICY HOLDERS

BIG RELAXATION TO LIFE INSURANCE POLICY HOLDERS IN THE WAKE OF COVID-19

Big Relaxation to Life Insurance Policy Holders in the wake of COVID-19 Key highlights : > IRDAI extended grace period up to 31st May, 2020 for all policies where premium was due in the month of March, 2020. Overview : > The Insurance Regulatory and Development Authority of India (IRDAI) vide Circular Ref: IRDAI/Life/Grace Period …

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COVID-19 AND INDIAN TAX REGIME RESIDENTIAL STATUS

COVID-19 and Indian Tax Regime Residential Status Introduction According to The Income Tax Act, 1961, a person is liable to pay taxes in India under the Indian Income Tax Regime if he is a resident in India. This means that unless and until you fall within the ambit of the definition of the Income Tax …

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SUGGESTIONS ON “HOW TO REVIVE POST COVID-19 INDIAN ECONOMY”

I am contributing my suggestions on “How to Revive Post COVID-19 Indian Economy” : 1.) The Government has to take strong measures to boost liquidity in the Market. 2.) To start stabilizing the economy, there should be gradually lifting of the lockdown. 3.) Invite Foreign Companies to invest and to start their units in India …

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COMPLETE LIST OF RED, ORANGE AND GREEN ZONES IN INDIA

The Union health ministry has split 733 districts across India into red, orange and green zones, designating all metropolitan cities (Delhi, Mumbai, Chennai, Kolkata, Hyderabad, Bengaluru and Ahmedabad) into the ‘no activity’ zone as the lockdown was extended by two weeks beyond May 4. According to the list, there are 130 red zones, where more …

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MEASURES TO REVIVE INDIAN ECONOMY FROM CORONA VIRUS (COVID-19) IMPACT

Coronavirus outbreak was first reported in Wuhan, China on 31 December, 2019 and spread throughout world by the end of March 2020 with the number of COVID-19 cases leaning dangerously more than 29,00,000 and the worldwide death toll crossing more than 2,00,000 till the date of writing of this article. The World Health Organization (WHO) …

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LIST OF COVID-19 HOTSPOTS IN INDIA, WHERE MODIFIED LOCKDOWN IS NOT APPLICABLE

Maharashtra : Mumbai, Pune, Aurangabad, Sangli, Nagpur, Nashik, Thane, Mumbai Suburban, Buldhana, Ahmednagar, Yavatmal Delhi : South, South West, South East, West, North, Centre, East, Shahdara and New Delhi Uttar Pradesh : Noida, Meerut, Gautam Budhh Nagar, Agra, Lucknow, Firozabad, Shamli, Moradabad, Saharanpur, Ghaziabad Kerala : Kasaragod, Kannur, Mallapuram, Ernakulam, Pathanamthitta, Thiruvananthpuram Tamil Nadu : …

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MCA

DECODING MCA RELAXATION ON HOLDING OF AGM BY COMPANIES

Overview : > Holding of annual general meetings by companies whose financial year has ended on 31st December, 2019. > Ministry of Corporate Affairs vide General Circular No. 18/2020, F. No.2/4/2020-CL-V dated 21st day of April, 2020 has issued Clarification on Holding of annual general meetings by companies whose financial year has ended on 31st …

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BIG NEWS FOR LOAN BORROWERS. ADDITIONAL 90 DAYS PROVIDED FOR PAYMENT OF EMI

Highlights The Reserve Bank has issued a directive that the loan borrowers will be given an additional 90 days after the 3-month moratorium period so that they can resume EMI. The RBI has currently changed the definition of loan defaulters. In his address, Governor Shaktikanta Das said that loan holders who have opted for the …

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INDUSTRIAL ESTABLISHMENTS AND OTHER ACTIVITIES TO BE ALLOWED TO OPERATE AFTER 20th APRIL

Following Industrial Establishments allowed after 20th April : 1. Industries in rural areas, SEZ and export oriented units, industrial estates, industrial townships. 2. Manufacturing units of essential goods, IT hardware, food processing units, jute industries. 3. Coal and mineral production & O&G refinery, brick kilns in rural areas. 4. Construction activities including roads, irrigation projects, …

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20 KEY HIGHLIGHTS OF RBI PRESS CONFERENCE DATED 17th APRIL, 2020

RBI governor vide Press Conference dated 17.04.2020 thanked Corona Warriors, forefront of the battle against COVID-19 and discussed about various relaxation due to COVID-19. Key Highlights of Press Conference : 1. Launch of TLTRO 2.0 worth Rs. 50,000 crore. 2. India expected to post a sharp turnaround in FY22 with 7.4% growth, as per IMF. …

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HOW TO USE ZOOM MEETING PLATFORM : ADVISORY BY MHA

MHA issues Advisory on Secure use of ZOOM Meeting Platform. Overview : Ministry of Home Affairs vide Press Release Id No: 1615008 dated 16.04.2020 has issued Advisory on Secure use of ZOOM Meeting Platform. Key Highlights : (1.) The Cyber Coordination Centre (CyCord) has issued an advisory on secure use of ZOOM Meeting Platform by …

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Reserve Bank of India imposes monetary penalty on State Bank of India

SBI ACCOUNT HOLDERS GOT A BIG SHOCK. THIS DECISION IMPLEMENTED ON SAVING ACCOUNTS

If you have a Saving Account in the State Bank of India (SBI), then this information is for you. Prior to the nationwide lockdown due to Coronavirus, the bank announced a reduction in the interest received in the savings account. This announcement has been effective from Wednesday 15 April. With this announcement, now account holders …

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WHAT IS COVID-19 HOTSPOT AREA AND WHAT ARE THE PENAL PROVISIONS FOR VIOLATING COVID-19 LOCKDOWN

What is COVID-19 Hotspot Area? A geographical area where six or more people test positive for corona virus is considered as a COVID-19 Hotspot. In such areas, stepping out from home including visits to grocery stores, pharmacies, ATM and bank are prohibited. However, home delivery of grocery and other essentials are allowed. How will declaring …

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