{"id":5815,"date":"2019-05-31T22:13:05","date_gmt":"2019-05-31T16:43:05","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=5815"},"modified":"2021-12-07T18:29:40","modified_gmt":"2021-12-07T12:59:40","slug":"corporate-and-professional-updates-on-22nd-may-2019","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-22nd-may-2019\/","title":{"rendered":"Corporate and Professional Updates on 22nd May 2019"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69d6168a9401f\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d6168a9401f\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-22nd-may-2019\/#Corporate_and_Professional_Updates_on_22nd_May_2019\" title=\"Corporate and Professional Updates on 22nd May 2019\">Corporate and Professional Updates on 22nd May 2019<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-22nd-may-2019\/#Direct_Tax_Updates\" title=\"Direct Tax Updates:\">Direct Tax Updates:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-22nd-may-2019\/#RBI_Updates\" title=\"RBI Updates:\">RBI Updates:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-22nd-may-2019\/#SEBI_Updates\" title=\"SEBI Updates:\">SEBI Updates:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-22nd-may-2019\/#Other_Updates\" title=\"Other Updates:\">Other Updates:<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-22nd-may-2019\/#Key_Due_Dates\" title=\"Key Due Dates:\">Key Due Dates:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-22nd-may-2019\/#Deposit_odf_TDS_TCS_for_the_month_of_April_for_purchase_of_property_is_30th_May_2019\" title=\"Deposit odf TDS \/TCS for the month of April for purchase of property is 30th May 2019.\">Deposit odf TDS \/TCS for the month of April for purchase of property is 30th May 2019.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-22nd-may-2019\/#TDS_return_for_March_Quarter_By_all_Deductors_is_31st_May_2019\" title=\"TDS return for March Quarter By all Deductors is 31st May 2019.\">TDS return for March Quarter By all Deductors is 31st May 2019.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-22nd-may-2019\/#More_read_INCOME_TAX_UPDATE_18_NOVEMBER_2015\" title=\"More read:INCOME TAX UPDATE 18 NOVEMBER 2015\">More read:INCOME TAX UPDATE 18 NOVEMBER 2015<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-22nd-may-2019\/#More_read_INCOME_TAX_UPDATE_14_NOVEMBER_2015\" title=\"More read:INCOME TAX UPDATE 14 NOVEMBER, 2015\">More read:INCOME TAX UPDATE 14 NOVEMBER, 2015<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n\r\n<p>&nbsp;<\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/images.financialexpress.com\/2018\/07\/tax-pwc-world-bank.jpg\" alt=\"Related image\" \/><\/figure>\r\n<h2><span class=\"ez-toc-section\" id=\"Corporate_and_Professional_Updates_on_22nd_May_2019\"><\/span>Corporate and Professional Updates on 22nd May 2019<span class=\"ez-toc-section-end\"><\/span><\/h2>\r\n<h3><span class=\"ez-toc-section\" id=\"Direct_Tax_Updates\"><\/span><a href=\"https:\/\/www.caindelhiindia.com\/blog\/popular-faq-on-direct-indirect-tax-corporate-regulatory-matters\/\"><strong>Direct Tax Updates:<\/strong><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\r\n\r\n\r\n\r\n<ul>\r\n<li>The income<a href=\"https:\/\/carajput.com\/income-tax-services.php\">\u00a0tax<\/a> Due date for filing returns for the Financial year 2018-2019 is 31 July 2019. So, Provide all required Documents for filling your Income-tax Return AY 19-20 as soon As possible. the penalty of Rs 5,000 will be charged for returns filed after the due date but before 31st December. If returns are filed after 31st December, a penalty of Rs 10,000 shall apply. However, the penalty will be Rs 1,000 for those with income up to Rs 5 Lakhs.<\/li>\r\n<li>CBDT releases draft notification proposing a new audit report for Trust\/Institution. Notification F No 370142\/6\/2019-TPL, dated 21-05-2019. stakeholders are requested to provide inputs on draft Form no. 10B electronically.<\/li>\r\n<li>CBDT Notification 36\/2019\u201d, dated 12th April, 2019 the format of TDS Statement in Form No. 24Q, Annexure-II has been revised. The notification shall come into force w.e.f. 12th May 2019. Form 16 and 24Q have been amended to make them more elaborative.<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<h3><span class=\"ez-toc-section\" id=\"RBI_Updates\"><\/span><strong><em>RBI Updates:<\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/images.financialexpress.com\/2017\/08\/RBI-REUTERS-5.jpg\" alt=\"Image result for hd pics on rbi\" \/><\/figure>\r\n\r\n\r\n\r\n<ul>\r\n<li>The <a href=\"https:\/\/carajput.com\/rbi-consulting.php\">Reserve Bank of India (RBI)<\/a> board on Tuesday sought to create a specialized oversight cadre while reviewing the current structure of supervision at the regulator. \u201cWith a view to strengthening the supervision and regulation of commercial banks, urban cooperative banks, and Non-Banking Financial Companies, the Board decided to create a specialized supervisory and regulatory cadre within the RBI,\u201d said a central bank statement.<\/li>\r\n<li>The Reserve Bank of India (RBI) board on Tuesday suggested not extending a credit line to struggling non-banking financial companies (NBFCs) because it felt there was no systemic liquidity issue but there were solvency concerns in some large entities.\u00a0The board, headed by RBI Governor Shaktikanta Das, met in Chennai and discussed the NBFC crisis as well as a revised circular that would replace the controversial \u201cresolution of stressed assets\u201d framework released by the central bank on February 12, 2018.<\/li>\r\n<li>The RBI is working on a liquidity framework for the NBFC sector and that may be released soon. Though an asset quality review (AQR) is not on the cards for NBFCs, the board was informed the central bank had called the management of large NBFCs and asked them to submit plans, with timelines, for capital infusion and asset monetisation.<\/li>\r\n<li>\u00a0The NBFC liquidity issue was discussed at length in the meeting \u201cbut the liquidity is enough in the system\u201d, a source said.\u00a0The central bank is keeping a tab on the liquidity position of these firms on a monthly basis and recently asked NBFCs with assets over Rs 5,000 crore to appoint a chief risk officer.<\/li>\r\n<\/ul>\r\n<h3><span class=\"ez-toc-section\" id=\"SEBI_Updates\"><\/span><strong><em><a href=\"https:\/\/carajput.com\/sebi-consulting.php\">SEBI<\/a> Updates:<\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\r\n\r\n\r\n\r\n\r\n\r\n<ul>\r\n<li>In a step that could significantly deepen the commodity derivatives segment (CDS), market regulator Sebi has issued norms for the participation of mutual fund in commodity derivatives like gold, silver, crude, copper, guar, mentha etc. However, MFs won\u2019t be allowed to take positions in sensitive commodities like agri products subject to frequent government intervention and the Essential Commodities Act. Effective May 21, MFs can participate in gold derivatives only through gold exchange-traded funds launched by asset management companies (AMCs) and in other commodity derivatives through hybrid schemes, which currently invest in equity, debt and gold, Sebi stated in a circular.<\/li>\r\n<li>As most commodities are physically settled, Sebi stated that MFs shouldn\u2019t hold any physical goods for more than 30 days since they first take delivery. \u201cNo mutual fund schemes shall invest in physical goods except in \u2018gold\u2019 through Gold ETFs. Further, as mutual fund schemes participating in ETCDs (exchange-traded commodity derivatives) may hold the underlying goods in case of physical settlement of contracts, in that case mutual funds shall dispose of such goods from the books of the scheme, at the earliest, not exceeding 30 days from the date of holding of the physical goods.<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<h3><span class=\"ez-toc-section\" id=\"Other_Updates\"><\/span><strong><em>Other Updates:<\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\r\n\r\n\r\n\r\n<ul>\r\n<li>Airtel, Voda Idea lose 30 mn users in March, Jio gains<\/li>\r\n<li>Evaluating Jet Airways opportunity says Hinduja Group<\/li>\r\n<li>NCLAT reserves order on ArcelorMittal<\/li>\r\n<li>PNB may take control of 2-3 small state-run banks<\/li>\r\n<li>Indian millennials optimistic about the economic outlook<\/li>\r\n<li>Tech Mahindra inks defence contract worth Rs 300 cr<\/li>\r\n<li>HPCL to borrow Rs 8K cr in FY20 to fund expansion<\/li>\r\n<li>Co-location: NSE moves Securities Appellate Tribunal against Sebi rulings<\/li>\r\n<li>ICRA downgrades long-term rating for IDFC First Bank from AA+ to AA<\/li>\r\n<li>High-level committee submit strategies on reducing import: Oil ministry<\/li>\r\n<li>RBI to establish supervisory body to strengthen regulation of banks &amp; NBFCs<\/li>\r\n<li>Corporation Bank plans to trim slippages by 50% to Rs 4000 crore in FY20<\/li>\r\n<li>\u00a0EPFO looks to pull back NBFC investments to avert default risk<\/li>\r\n<li>Govt turns the heat on directors in fight against shell companies<\/li>\r\n<li>Small trucks see growth, bucking industry slowdown<\/li>\r\n<li>Solar-powered water pump launched for farming sector<\/li>\r\n<li>Reliance beats Indian Oil Corporation to become biggest Indian company<\/li>\r\n<li>Vedanta bags two copper blocks in Maharashtra<\/li>\r\n<li>India&#8217;s thermal coal output seen growing 4.3% annually till 2028: Report<\/li>\r\n<li>68% Indians feel job market has improved in last 5 years: Survey<\/li>\r\n<li>India among top 20 countries in the Artificial Intelligence readiness ranking<\/li>\r\n<li>IL&amp;FS initiates claim process for 70 group entities<\/li>\r\n<li>Sebi permits mutual funds to participate in commodity derivatives<\/li>\r\n<li>Crompton Greaves Consumer Electricals Q4 net up 36% at Rs 140.54\u00a0crore<\/li>\r\n<li>India projected to grow at 7.1% in FY\u201920: UN\u00a0report<\/li>\r\n<li>New Indian government faces crucial foreign policy decisions, say US\u00a0experts<\/li>\r\n<li>US-China trade war gradually destabilising world\u00a0economy<\/li>\r\n<li>\u00a046 pc ultra high net worth Indians to increase investment in private equity: Survey<\/li>\r\n<li>L&amp;T market capitalisation to touch Rs 3 lakh crore in five years: AM Naik<\/li>\r\n<li>Oil rises on US-Iran tensions, but trade war concerns weigh<\/li>\r\n<li>Rupee edges up 2 paise against US dollar as investors turn cautious.<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<h4><span class=\"ez-toc-section\" id=\"Key_Due_Dates\"><\/span><strong><em>Key Due Dates:<\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n\r\n\r\n\r\n<ul>\r\n<li>\r\n<h4><span class=\"ez-toc-section\" id=\"Deposit_odf_TDS_TCS_for_the_month_of_April_for_purchase_of_property_is_30th_May_2019\"><\/span>Deposit odf <a href=\"https:\/\/carajput.com\/tds.php\">TDS \/TCS<\/a> for the month of April for purchase of property is 30<sup>th<\/sup> May 2019.<span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<\/li>\r\n<li>\r\n<h4><span class=\"ez-toc-section\" id=\"TDS_return_for_March_Quarter_By_all_Deductors_is_31st_May_2019\"><\/span><a href=\"https:\/\/carajput.com\/services\/tds-return-filing.php\">TDS return<\/a> for March Quarter By all Deductors is 31<sup>st<\/sup> May 2019.<span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<\/li>\r\n<li>\r\n<h4><span class=\"ez-toc-section\" id=\"More_read_INCOME_TAX_UPDATE_18_NOVEMBER_2015\"><\/span><span style=\"color: #0000ff;\"><strong><a style=\"color: #0000ff;\" href=\"https:\/\/carajput.com\/blog\/income-tax-act-3\/\">More read:INCOME TAX UPDATE 18 NOVEMBER 2015<\/a><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<h4><span class=\"ez-toc-section\" id=\"More_read_INCOME_TAX_UPDATE_14_NOVEMBER_2015\"><\/span><strong><a href=\"https:\/\/carajput.com\/blog\/income-tax-act\/\"><span style=\"color: #0000ff;\">More read:INCOME TAX UPDATE 14 NOVEMBER, 2015<\/span><\/a><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n\r\n\r\n\r\n<p>&nbsp;<\/p>\r\n<\/li>\r\n<\/ul>\r\n\r\n\r\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; The income\u00a0tax Due date for filing returns for the Financial year 2018-2019 is 31 July 2019. So, Provide all required Documents for filling your Income-tax Return AY 19-20 as soon As possible. the penalty of Rs 5,000 will be charged for returns filed after the due date but before 31st December. If returns are &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,11,15],"tags":[7948,9235,8129,8138],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/5815"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=5815"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/5815\/revisions"}],"predecessor-version":[{"id":19576,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/5815\/revisions\/19576"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=5815"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=5815"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=5815"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}