Latest Updates

  • Rs 6000 cr released to States in 9th Instalments
  • The Ministry of Finance has released Rs 6000 crores to the States to meet the shortfall of GST Compensation.
  • In so far, Rs 54000 crores has been released to all the States and Union Territories with Legislation.

To read full Official https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1684149 click to download.

  • RBI issues guidelines on net owned fund to be maintained by Housing Finance Institution
  • In one of the Notifications of Reserve Bank of India, a housing finance institution having a Certificate of Registration with net owned fund less than Rs. 20 crore shall continue to carry on the business of housing finance institution.
  • The Certificate of Registration shall be issued under Section 29A of the National Housing Bank Act, 1987.

To read more, click on official notification https://www.rbi.org.in/scripts/BS_ViewMasCirculardetails.aspx?id=5135  

  • IRDAI discloses the benefit and premium for Health insurance policies issued on the floater basis
  • In the recent notification of the Insurance Regulatory and Development Authority of India (IRDAI), the consolidated guidelines on product filing in Health Insurance Business states mandatory disclosure in the prospectus of health insurance products.
  • Also, the notification contains every health insurance product offering individual and family floater options that are explained in Annexure-A of the notification.

To read more Click on the official notification https://www.irdai.gov.in/admincms/cms/whatsNew_Layout.aspx?page=PageNo4310&flag=1

  • Income tax return filing deadline for FY 20 extended till 10 January 2021
  • In view of the continued challenges faced by the taxpayers in meeting statutory compliances due to the outbreak of COVID-19, the Government of India further extends the dates for various compliances including extending the deadline of Income Tax Return till 10 January 2021.

To read the press release click on official notification https://www.incometaxindiaefiling.gov.in/eFiling/Portal/StaticPDF/Press-release-Extension-of-time-limits_30-12-2020.pdf

For any query/registration/advisory related to GST, Company, Taxation laws and Updates, Kindly visit www.onfiling.com

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