BUSINESS

In view of the challenges thrown by COVID19 outbreak and consequent lockdown, the Government today took a major decision to provide relief from payment of rental to the small IT units operating out of the Software Technology Parks of India (STPI). Most of these units are either Tech MSMEs or …

The provision notified on 28th March 2020, for a special withdrawal from the EPF Scheme to tide over the COVID-19 pandemic, as part of the Pradhan Mantri Garib Kalyan Yojana (PMGKY) package, has provided timely relief to the working class of the nation. Since the introduction of this program, in …

The Cyber Coordination Centre (CyCord), under the Union Ministry of Home Affairs (MHA), has issued an advisory on secure use of ZOOM Meeting Platform by private individuals. This advisory states that the platform is not for use by Government officers/officials for official purposes. The document makes reference to earlier advisories …

With a view to mitigate hardship to the policyholders whose Health and Motor (Third Party) insurance policies are due for renewal during COVID-19 lockdown, the Central Government issued Notifications allowing such policyholders to make premium payments till May 15th. This will ensure a continued cover and hassle-free claims payment during …

Employees Provident Fund Organisation (EPFO), an statutory body under Union Ministry of Labour & Employment has processed about 1.37 lakh claims across the country disbursing an amount of Rs. 279.65 crore under a new provision especially formulated by amending the EPF Scheme to help subscribers fight Covid-19. The remittances of …

The Institute of Chartered Accountants of India, Institute of Company Secretaries of India and Institute of Cost Accountants of India, the three Professional Institutes under the Ministry of Corporate Affairs, have come forward to donate an amount of Rs 28.80 crore to PM-CARES Fund for providing assistance to those impacted …

The Ministry of Corporate Affairs (MCA) is fully cognizant of the difficulties faced by companies on account of the ongoing nation-wide lockdown and social distancing due to COVID 19. The Ministry has also taken note of various representations received from industry associations and corporates on the need to facilitate companies …

In the context of the COVID-19 situation and with a view to provide immediate relief to the business entities and individuals, it has been decided to issue all the pending income-tax refunds up to Rs. 5 lakh, immediately. This would benefit around 14 lakh taxpayers. It has also been decided …

Due to outbreak of the Covid-19 pandemic, there is severe disruption in the normal working of almost all sectors. To mitigate the hardships of taxpayers, the CBDT has issued the following directions/clarifications by exercise of its power u/s 119 of the Income-tax Act, 1961 (the Act): All the assessees who …

Last week, the Reserve Bank of India has allowed Banks to declare a three-month moratorium on all term loans outstanding as on March 1, 2020, as well as on working capital facilities. The Indian Banks Association has answered a list of Frequently Asked Questions about the technicalities of the moratorium. …