Financial Guarantee: Meaning: A contract that requires the issuer (Guarantor) to make specified payments to reimburse the holder (loan giver) for a loss it incurs because a specified debtor (loan taker) fails to make payment when due in accordance with a debt instrument. Condition for classifying an instrument as financial guarantee: Payment to be made to holder only if: If above […]
Important Judicial Precedents RNM was established by Late Mr. R.N. Marwah in the year 1946. RNM India is one of the top ca firm in Delhi. Commencing from the pre-independence era to the modern age of science and technology, RNM has loyally stood as a witness to the sequence of events that have gradually molded the nation and led to […]
GST Calendar –Compliances for the month of October’2021 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) November 10,2021 GSTR-8 (Tax Collected at Source ‘TCS’) November 10,2021 GSTR-1 September 2021 November 11, 2021 IFF- Invoice furnishing facility (Availing QRMP) November 13,2021 GSTR-6 September 2021 Input Service Distributor November 13, 2021 GSTR-2B (Auto Generated Statement) November 14,2021 GSTR-3B September […]
Amendments issued by MCA Relaxations in paying additional fees in case of delay in filing Form 8 (the Statement of Account and Solvency) by Limited Liability Partnerships upto 30th December, 2021: MCA issued a Circular, in which MCA announced relaxation on additional fees in filing Form 8 by LLP upto 30th December 2021. Due to the difficulty faced by LLPs […]
Open, a small and medium enterprise focused neo-bank, announced that it has raised INR 735 crores (USD 100 million) in a Series C funding round. The round was led by Singapore state-sponsored Temasek Holdings while other investors were Google & Japan-based SBI Investment and among existing investors were Tiger Global and 3one4 Capital. The startup was valued at USD 500 […]
SEBI revises formats for filing of Financial Information The SEBI has decided to revise the formats for reporting of financial information and limited review report. The new format shall contain the items mentioned in the Statement of Profit and Loss (excluding notes and detailed sub classification) as prescribed in Schedule III of the Companies Act, 2013 and the extent and […]
In this edition we have tried to bring to your notice the latest amendment that followed in the month of September, 2021 issued by MCA, RBI, SEBI, BSE, NSE and others. Amendments issued by MCA Relaxation for filing Cost Audit Report: MCA has granted relaxation of additional fees and extension of the last date of filing of Cost Audit Report […]
On consideration of difficulties reported by the taxpayers and other stakeholders in electronic filing of certain Forms under the provisions of the Income-tax Act, 1961 read with Income-tax Rules, 1962 (Rules), Central Board of Direct Taxes (CBDT), in exercise of its powers under section 119 of the Act, extends the due dates for electronic filling of such forms as under. […]
GST Calendar – Compliances for the month of September 2021 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) October 10, 2021 GSTR-8 (Tax Collected at Source ‘TCS’) October 10, 2021 GSTR-1 September 2021 October 11, 2021 IFF- Invoice furnishing facility (Availing QRMP) October 13, 2021 GSTR-6 September 2021 Input Service Distributor October 13, 2021 GSTR-2B (Auto Generated […]
Indian tea brand, Vahdam India, has raised about $24 million (Rs 174 crore) as a part of its Series D round led by IIFL AMC’s Private Equity Fund. The current round of investment, the total funding raised by Vahdam India stands at Rs 290 crore. Post this funding, the company’s valuation stands at about Rs 700 crore. The company’s existing […]