{"id":5878,"date":"2019-07-19T14:48:11","date_gmt":"2019-07-19T09:18:11","guid":{"rendered":"https:\/\/carajput.com\/blog\/?p=5878"},"modified":"2022-02-17T01:06:03","modified_gmt":"2022-02-16T19:36:03","slug":"corporate-and-professional-updates-on-11th-july-2019","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-11th-july-2019\/","title":{"rendered":"Corporate and Professional updates on 11th July 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-69d01ab7b1868\" 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-69d01ab7b1868\"  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-11th-july-2019\/#Corporate_and_Professional_updates_on_11th_July_2019\" title=\"Corporate and Professional updates on 11th July 2019\">Corporate and Professional updates on 11th July 2019<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-11th-july-2019\/#Direct_tax_Updates\" title=\"Direct tax Updates:\">Direct tax Updates:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-11th-july-2019\/#RBI_Updates\" title=\"RBI Updates:\">RBI Updates:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-11th-july-2019\/#Other_Updates\" title=\"Other Updates:\">Other Updates:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-11th-july-2019\/#Key_Other_Updates\" title=\"Key Other Updates:\">Key Other Updates:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-11th-july-2019\/#Key_Due_Dates\" title=\"Key Due Dates:\">Key Due Dates:<\/a><\/li><\/ul><\/nav><\/div>\n\r\n<h2><span class=\"ez-toc-section\" id=\"Corporate_and_Professional_updates_on_11th_July_2019\"><\/span><a href=\"https:\/\/www.caindelhiindia.com\/blog\/category\/corporate-and-professional-update\/\">Corporate and Professional updates on 11th July 2019<\/a><span class=\"ez-toc-section-end\"><\/span><\/h2>\r\n<h2><span class=\"ez-toc-section\" id=\"Direct_tax_Updates\"><\/span><strong><em>Direct tax Updates:<\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\r\n\r\n\r\n\r\n<div class=\"wp-block-image\">\r\n<figure class=\"aligncenter is-resized\"><img loading=\"lazy\" decoding=\"async\" class=\"\" src=\"https:\/\/www.thebetterindia.com\/wp-content\/uploads\/2018\/04\/ITT.jpg\" alt=\"Image result for direct Tax hd pics\" width=\"818\" height=\"428\" \/><\/figure>\r\n<\/div>\r\n\r\n\r\n\r\n<ul>\r\n<li>The taxman will &#8216;suo motu&#8217; allot a fresh <a href=\"https:\/\/carajput.com\/services\/permanent-account-number-pan.php\">PAN<\/a> to a person who files tax returns with only Aadhaar as part of a new arrangement to link the two databases, the CBDT chief said after the Budget proposed that only the biometric ID is enough for tax purposes.<\/li>\r\n<li>The government has ruled out a rollback of the \u2018super-rich\u2019 tax on foreign portfolio investors (FPIs) organised as trusts or association of persons. The tax on such FPIs will yield an estimated Rs 400 crore, as against the overall revenue gain of Rs 12,000 crore from the surcharge.\u00a0<\/li>\r\n<li>Finance Minister Nirmala Sitharaman in her maiden Budget last week proposed a hike in surcharge for the super-rich from 15 per cent to 25 per cent for incomes between Rs 2 crore and Rs 5 crore, and from 15 per cent to 37 per cent for incomes above Rs 5 crore a year.<\/li>\r\n<li>The move will hit 40 per cent of the FPIs. According to reports, about 2,000 FPIs operate as trusts and not companies due to several advantages related to flexibility and tax-efficient repatriation. \u201cThere is no question of a rollback. We are not targeting any one section. If you are a non-company, you will be taxed as an individual, the same way you also enjoy the tax or other advantages of being operating as one. We can\u2019t treat them separately.\u201d<\/li>\r\n<li>Due date for submitting income tax returns is 31st July 2019 for all cases in which income tax audit is not mandatory. make sure to file your returns within time to avoid penalties.<\/li>\r\n<li>Finance ministry shows that about 40% of foreign portfolio investors (FPIs) \u2014 those that follow the trust structure will be impacted by the higher surcharge levied in the budget. The majority 60% of FPIs that use the corporate structure will not be impacted.<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<h2><span class=\"ez-toc-section\" id=\"RBI_Updates\"><\/span><strong><em>RBI Updates:<\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\r\n\r\n\r\n\r\n<ul>\r\n<li>RBI norms on large exposures for banks are not only compliant with the Basel requirements, they are stricter in some areas as well, according to the findings of the Basel Committee on Banking Supervision.<\/li>\r\n<li><a href=\"https:\/\/carajput.com\/rbi-consulting.php\">Reserve Bank of India\u2019s (RBI\u2019s)<\/a> six-member monetary policy committee, oil prices and their impact was a key factor that pushed two members to vote against a cut in the policy repo rate. RBI deputy governor Viral Acharya and nominee member Chetan Ghate voted against a rate cut on the basis of their concerns that rising crude oil prices have the ability to push up everything from headline inflation to inflation expectations. Ghate observed that core inflation, which remains around worrying levels of 5%, will be buttressed by rising crude oil prices, and this makes inflation management challenging.<\/li>\r\n<li>The monetary policy committee members showed differences in their assessment of where commodity prices are headed and to what extent these are worrisome.<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<h2><span class=\"ez-toc-section\" id=\"Other_Updates\"><\/span><strong><em>Other Updates:<\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\r\n\r\n\r\n\r\n<ul>\r\n<li>Core Sector Growth slows down to 1.8% in January.<\/li>\r\n<li>Airtel gets Board Approval to raise Rs 32,000 Crore.<\/li>\r\n<li>India to see Lower Productivity, Weak Demand.<\/li>\r\n<li>Govt keen on Amalgamation of PSBs.<\/li>\r\n<li>NCLAT orders resolution on Essar Steel bid by March 8.<\/li>\r\n<li>SEBI wants govt rethink on RBI representation on its Board.<\/li>\r\n<li>NSE to introduce Brent Crude Oil Futures Contract on Mar 1.<\/li>\r\n<li>DBS to convert its India Operations into wholly-owned subsidiary from Mar 1.<\/li>\r\n<li>2018 best year for M&amp;As as deal values rise 126% to $80 Bn.<\/li>\r\n<li>International Finance Corp to invest $165 Mn in Bajaj Finance, Dodla Dairy.<\/li>\r\n<li>Infosys says KiranMazumdar-Shaw sold 1,600 Shares without pre-clearance.<\/li>\r\n<li>NareshGoyal agrees to step down as Chairman of Jet Airways.<\/li>\r\n<li>Iran buys Indian sugar to ease its oil-money headache.<\/li>\r\n<li>LG India aims for 30% Growth in commercial ACs this year.<\/li>\r\n<li>NIIF, CDC &amp;Eversource Capital to invest $330 mn in Ayana.<\/li>\r\n<li>Lupin launches chronic angina treatment drug in the US.<\/li>\r\n<\/ul>\r\n<h2><span class=\"ez-toc-section\" id=\"Key_Other_Updates\"><\/span><strong><em>Key Other Updates:<\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\r\n<ul>\r\n<li>Future Group to bring 7-Eleven Stores to India.<\/li>\r\n<li>Cabinet clears 10,000 Crore FAME II scheme.<\/li>\r\n<li>RBI constitutes task force under UshaThorat on offshore rupee markets.<\/li>\r\n<li>REC Board approves borrowing limit hike, 11 Per Share Interim Dividend.<\/li>\r\n<li>J&amp;J allowed resuming Baby Talc Production.<\/li>\r\n<li>Fraud-hit PNB ranks highest in implementation of &#8216;Reforms Agenda&#8217; in 2018.<\/li>\r\n<li>SBICap Ventures\u2019 Neev Fund to invest $5 Million in Renewable Energy Firm Prespl.<\/li>\r\n<li>NCLT rejects plea from 8 Operational Creditors.<\/li>\r\n<li>Govt revises down FDI inflows into Chemicals drastically.<\/li>\r\n<li>Sodexo to increase focus on Small and Medium enterprises in India.<\/li>\r\n<li>Rupee recoups 52 Paise to end at 70.72 per Dollar.<\/li>\r\n<li>Kotak ties up with ADIA for USD 600 Mn Distressed Assets Fund.<\/li>\r\n<li>Increasing Exports can lead to Better Jobs, Higher Wages in India.<\/li>\r\n<li>L&amp;T Finance to raise up to Rs 1,500 Cr via NCDs.<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<h2><span class=\"ez-toc-section\" id=\"Key_Due_Dates\"><\/span><strong><em>Key Due Dates:<\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\r\n\r\n\r\n\r\n<ul>\r\n<li>07-07-2019 &#8211; Deposit of <a href=\"https:\/\/carajput.com\/tds.php\">TDS\/TCS<\/a> for the month of June 2019.<\/li>\r\n<li>10-07-2019 &#8211; <a href=\"https:\/\/carajput.com\/gst\/gst-return.php\">GSTR 8<\/a> for E-Commerce Companies for the m\/o June 2019.<\/li>\r\n<li>11-07-2019 &#8211; GSTR-1 for the month of June 2019 for taxpayers with Annual Aggregate turnover more than 1.50 Crore.<\/li>\r\n<li>\u00a013-07-2019 &#8211; GSTR-6 for Input Service Distributor.<\/li>\r\n<li>14-07-2019 &#8211; Issue of TDS Certificate for tax deducted under section 194-IA\/194-IB in m\/o\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 May&#8217;19.<\/li>\r\n<li>15-07-2019- FLA Report it is required to be submitted directly by all Indian Companies which have received\u00a0 FDI or made FDI abroad for m\/o June 2019.<\/li>\r\n<li>18-07-2019- <a href=\"https:\/\/carajput.com\/gst\/gst-return.php\">GSTR-4 Quarterly return<\/a> for taxpayers opting for composition scheme.<\/li>\r\n<li>20-07-2019 &#8211; GSTR-3B for the m\/o June 2019.<\/li>\r\n<li>25-07-2019-\u00a0 EPF return filing for the month of June 2019.<\/li>\r\n<li>30 -07-2019 -Quarterly TCS certificate in respect of tax collected by any person for the quarter ending June 30, 2019.<\/li>\r\n<li>31-07-19 &#8211; <a href=\"https:\/\/carajput.com\/gst\/gst-return.php\">GSTR-1<\/a> for June Quarter applicable for taxpayers with Annual Aggregate turnover upto Rs. 1.50\/- Crore.<\/li>\r\n<\/ul>\r\n\r\n\r\n","protected":false},"excerpt":{"rendered":"<p>Corporate and Professional updates on 11th July 2019 Direct tax Updates: The taxman will &#8216;suo motu&#8217; allot a fresh PAN to a person who files tax returns with only Aadhaar as part of a new arrangement to link the two databases, the CBDT chief said after the Budget proposed that only the biometric ID is &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9933],"tags":[893],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/5878"}],"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=5878"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/5878\/revisions"}],"predecessor-version":[{"id":6634,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/5878\/revisions\/6634"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=5878"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=5878"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=5878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}