Lok Sabha passes bill to enable govt to double tax-free gratuity to Rs 20 lakh

March 16, 2018

The Lok Sabha on Thursday passed the Payment of Gratuity (Amendment) bill which seeks to empower the government to fix period of maternity leave and tax-free gratuity amount with an executive order. After the passage of the Payment of Gratuity (Amendment) Bill in the Rajya Sabha, the government would be able to enhance the ceiling […]

Read More

RBI may hike repo rate by 0.25% in 2018: Care Ratings

March 9, 2018

: The Reserve Bank is likely to increase its key rates by 0.25 per cent this year as inflation is expected to be at a higher range due to wide fiscal deficit and high prices of oil and farm produce, a report said on Friday. The headline consumer price inflation (CPI) will not breach the 6 per cent mark which is […]

Read More

Establishment of National Financial Reporting Authority

March 7, 2018

The Union Cabinet has approved the proposal for establishment of National Financial Reporting Authority (NFRA). An independent regulator for the auditing profession which is brought in existence as per Sec 132 of Companies Act 2013. National Financial Reporting Authority (NFRA) is a body proposed in Companies Act 2013 for the establishment and enforcement of accounting […]

Read More

Supreme Court refuses to extend Aadhaar linking deadline

February 23, 2018

The Supreme Court has rejected a plea which sought extension of the deadline for seeding Aadhaar to a host of services, such as banking and mobile phones, beyond March 31 on the grounds that the hearing into a slew of petitions challenging the mandatory linkage of the 12-digit unique identity number would not be completed by the end of […]

Read More

All you should know about “Letter of Undertaking”

February 17, 2018

An LoU is an assurance given by one bank to another to meet a liability on behalf of a customer. The LoU is akin to a letter of credit or a guarantee. LoUs are used in international banking transactions. An LoU is issued for overseas import remittances checks. A SWIFT instruction, which represents a bank’s […]

Read More
Request Quote
Ask Questions