Weekly Funding Report (26th July-31st July, 2021)

43 Indian Start-ups raised funding in the last week of July, 39 received a total sum of about $814 million and 4 didn’t disclose the financial details. Following are some key Transactions Business to business conversational messaging platform Gupshup raised... Read More →

Posted in Transaction Advisory |

RBI Guidelines for Appointment of Statutory Central Auditors/ Statutory Auditors of Commercial Bank, UCBs and NBFCs

The RBI Circular issued on 27th April 2021 prescribed a set of selection criteria for appointment of Statutory Central Auditors/Statutory Auditors of Commercial banks (excluding regional rural banks), urban co-operative banks(UCBs) and non-banking financial companies(NBFC) including housing finance companies based on... Read More →

Posted in Audit & Assurance |

Key Highlights of Covid Relief Packages Announced by The FM On 28th June 2021 in View of 2nd wave of Covid-19 Pandemic

The Union Finance Minister addressing the nation on 28th June 2021, announced a slew of measures to provide relief to diverse sectors affected by the 2nd wave of COVID-19 pandemic. The measures announced also aim to prepare the health systems... Read More →

Posted in Direct Tax |

CBDT extends certain timelines & announces Exemptions for Covid-19 expenditure & ex gratia

CBDT on account of genuine hardship being faced by taxpayers in making various compliances under the Income Tax Act (‘the Act’) in view of severe Covid-19, eases the compliance burden of taxpayers by providing relaxations in respect of the following... Read More →

Posted in Direct Tax |

Compliance Check functionality of Tax Department for sections 206AB & 206CCA (applicable w.e.f 1 July 2021)

The Finance Act, 2021 had brought in section 206AB (TDS for non-filers of Income Tax Return) & 206CCA (TCS for non-filers of Income Tax Return) which is effective from 1 July 2021. These sections mandate tax deduction (section 206AB) or... Read More →

Posted in Direct Tax |