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Tax Audit Due Date To Be Extended

Due to the difficulties reported by taxpayers / stakeholders due to Covid and the submission of audit reports for 2021-22 under the IT Act of 1961, the CBDT further extended the deadlines for submitting audit and ITR reports for IS 21-22. Circular No. 01/2022 dated 11.01.2022 issued. Upon repulsion reported by taxpayers and other concerns due to Covid filing and electronic submission),...

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India has 4th largest foreign exchange reserves in world

India's Finance Minister Pankaj Chaudhry told Lok Sabha on Monday that India currently has the fourth largest foreign exchange reserves in the world. "On November 19, 2021, foreign exchange reserves were $ 640.4 billion," he said. To another question he replied: Records of P-Notes / Outside Derivatives (ODIs) holders and ODI holder stakeholders, as defined in Section 9 of the Anti-Money Laundering...

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November gross GST collection at Rs 1,31,526 crore, 2nd highest ever

The total GST revenue accrued in November was 1,31,526 rupees. This was an increase from Rs 1.30 crore collected in October. Of these, CGST includes 23,978 rupees, 31,127 rupees, IGST 66,815 rupees (including 32,165 rupees on imports) and 9,606 rupees on taxes (including 635 rupees on import goods). November marked the second consecutive month that total GST collections exceeded Rs 1.30 billion....

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PNB puts up National Steel & Agro Industries for sale to recover Rs 200cr dues

The National Bank of Punjab (PNB) has put a steel and agricultural company based in Madhya Pradesh up for sale for around Rs 200 billion. National Steel and Agricultural Industries Co., Ltd has a bank balance of Rs 199.90. "Our intention is to submit the account to the ARC / NBFCs / other banks / financial institutions for sale in accordance with...

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India's forex kitty increases by $289 mn to $640.40 bn.

The Bank of India raised $ 289 million to $ 640.401 billion for the week ending Nov. 19. Total reserves fell $ 763 million to $ 640.112 billion in the most recent reporting week. They reached $ 642,453 billion during the week ending September 3, 2021, at $ 642,453. Foreign assets (FCA), a significant portion of total reserves, increased by $ 225...

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REUCTION OF CA STUDENTS OVER THE PAST 12 YEARS.

Institute Of Chartered Accountant Of India (ICAI) has seen a continous reduction in the course of CA, where on the other side the members and CA Associates are increasing day by day. In the 2009-10 , including all the courses the total number of students registered in institute were around 2,77,000 , which has now reduced to 1,82,000 in the current year...

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Paytm Wild Ride Continues As Stocks Sinks Again Ahead Of Earnings

Indiaā€™s digital payments giant Paytm is set for another bout of scrutiny on Saturday when it reports earnings in the wake of its record-breaking initial public offering and tumultuous stock market debut. Ahead of the results, Paytmā€™s shares dropped as much as 7.7% in early Mumbai trading on Friday. While the stock had jumped about 32% over the last three days, it...

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