| AKGVG Weekly Insight |
| Dear Reader, |
Greetings for the day!!!
We are pleased to share AKGVG's Weekly Insight, dated 25th Sept., 2020 which includes: |
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| Date: 25.09.2020 |
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| S.no |
Description |
Relevant links |
| Section I: Income Tax |
| 1. |
CBDT pronounced Income-tax (21st Amendment) Rules, 2020. |
Notification No.75/2020
dtd 22.09.2020 |
| 2. |
CBDT notified Infrastructure Debt Fund namely, the
‘L&T Infra Debt Fund (PAN: AACCL4493R)’ for the purposes of the clause 47 of section 10, for the assessment year
2018-2019 and subsequent years subject conditions in the stated notification.
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Notification No. 74/2020
dtd 11.09.2020 |
| 3. |
CBDT notified District Mineral Foundation Trust for the purposes of the clause 46 of section 10. |
Notification No. 73/2020
dtd 10.09.2020 |
| Section II: GST |
| 1. |
CBIC extended due date of compliance under Section 171 which falls during the period from "20.03.2020 to 29.11.2020" till 30.11.2020 |
Notification No. 65/2020-CT
dtd 01.09.2020 |
| 2. |
CBIC extended due date for filing FORM GSTR-4 for financial year 2019-2020 to 31.10.2020 |
Notification No. 64/2020-CT
dtd 31.08.2020 |
| Section III: MCA |
| 1. |
Relaxation of additional fees and extension of last date of filing of CRA-4 (form for filing of cost audit report) for FY 2019-20 under the Companies Act, 2013. |
Circular No. 29/2020
dtd 10.09.2020 |
| 2. |
MCA notified Companies (Acceptance of Deposits) Rules, 2020. |
Notification
dtd 07.09.2020 |
| Section IV: RBI |
| 1. |
RBI issued Master Circular on Deendayal Antyodaya Yojana - National Rural Livelihoods Mission (DAY-NRLM) |
RBI/2020-21/39
dtd 18.09.2020 |
| 2. |
RBI announced Conversion/Switch of Government of India (GoI)’s Securities. |
Press release
dtd 17.09.2020 |
| 3. |
RBI notified automation of Income Recognition, Asset Classification and Provisioning processes in banks. |
RBI/2020-21/37
dtd 14.09.2020 |
| 4. |
RBI released Draft Rupee Interest Rate Derivatives (Reserve Bank) Directions, 2020 under Section 45 W of the RBI Act, 1934 |
Press release
dtd 15.09.2020 |
| 5. |
RBI notified compliance functions in banks and Role of Chief Compliance Officer (CCO). |
RBI/2020-21/35
dtd 11.09.2020 |
| 6. |
Resolution Framework for COVID-19-related Stress – Financial Parameters notified. |
RBI/2020-21/34
dtd 07.09.2020 |
| 7. |
RBI notified revised Long Form Audit Report (LFAR). |
RBI/2020-21/33
dtd 05.09.2020 |
| 8. |
RBI issued Master Directions on Priority Sector Lending (PSL) – Targets and Classification |
RBI/FIDD/2020-21/72
dtd 04.09.2020 |
| Section V: Customs |
| 1. |
CBIC amended Bill of Entry (Forms) Regulations, 1976 thereby introducing Bill of Entry (Forms) (Amendment) Regulations, 2020. |
Notification No. 90 (N.T.) /2020-Customs
dtd 17.09.2020 |
| 2. |
Auto Let Export Order under Express Cargo Clearance System (ECCS) introduced. |
Circular No. 41/2020-Customs
dtd 07.09.2020 |
| 3. |
CBIC notified detailed plan for roll-out the Faceless Assessment at an all India level in all ports of import and for all imported goods by 31.10.2020. |
Circular No. 40/2020-Customs
dtd 04.09.2020 |
We trust you will find this Journal informative as well as useful.
For any queries, you can write to us at "info@akgvg.com".
Looking forward to receive your valuable feedback
Disclaimer: This insight is meant for informational purpose only and should not be considered as an advice or opinion, or otherwise, whatsoever. AKGVG & Associates does not intend to advertise its services through this insight. AKGVG & Associates is not responsible for any error or omission in this insight or for any action taken based on its contents.
Best Regards!
Knowledge Updates Team
AKGVG & Associates
(Chartered Accountants)
DELHI | GURGAON | MUMBAI | AHMEDABAD | BANGALORE | CHENNAI | LUCKNOW
Tel: +91 9811118031, 9818330516,
Telefax:+91 11 49037920
Website: https://www.akgvg.com |
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