Mandatory use of Accounting Software having Audit Trail FY commencing from 1st April, 2021 every Company shall use Accounting Software having feature to record audit trail of each and every transaction, creating an edit log of changes made in books of account along with the date when such changes were made & ensuring that the […]
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Clarification by MSME regarding existing Udyog Aadhaar Memorandum (UAM) and New Udyam Registration
Ministry of MSME issued an office memorandum on 06.08.2020 for Clarification on existing Entrepreneurs Memorandum (EM) Part-II or Udyog Aadhaar Memorandum (UAM) or New Udyam Registration-regarding. No. 1/1(5)/2019- P&G/Policy (pt. IV) Ministry of MSME Office of the Development Commissioner(MSME) Ministry of Micro, Small & Medium Enterprises (MSME Policy Division) Subject: Clarification on existing Entrepreneurs Memorandum […]
Rules will be implemented from 1st August, 2020
From 1st August 2020, some rules are getting change. The changes may affect our life. The new rule will be implemented after replacing the old one. These changes include the rate of contribution in EPF, change in insurance, interest rate rules on bank accounts. EPF will be deducted @ 12% The Finance Minister announced that […]
Extension of time for submission of financial results for the quarter/half year/ financial year ended 30th June 2020
SEBI, vide circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/106 dated June 24, 2020, had extended the timeline for submission of financial results by listed entities for the quarter / half- year / financial year ended 31st March 2020 to July 31, 2020 due to the impact of the CoVID- 19 pandemic. Regulation 33 of the SEBI (Listing Obligations and […]
Consumer Protection Act, 2019 comes into force on 20th July 2020
The Consumer Protection Act, 2019 received the assent of the President of India and was published in the official gazette on 9 August 2019. New Consumer Protection Act will replace 34 year old act and come into effect from July 20, 2020. Consumer Protection Act, 2019 It is a law to protect the interests of […]
MSME UPDATE FOR CLASSIFICATION OF MSME, CALCULATION OF TURNOVER & INVESTMENT
Ministry of Micro, Small and Medium Enterprises vide Gazette ID No. CG-DL-E-26062020-220191 dated 26.06.2020 has notified:- Classification of Enterprises An enterprise shall be classified as a micro, small or medium enterprise on the basis of the following criteria, namely:- Micro: Investment < Rs. 1 cr. and Turnover < Rs. 5 cr. […]
Five Major Finance Changes effective from 01.07.2020
Restrictions on ATM withdrawals are back The Finance Minister on 24 March, 2020 announced that for three months debit cardholders could withdraw cash from any bank’s ATM free of charge for the next three months. From today on wards, this relaxations has ended and the regular limits and charges will apply. Penalty for non-maintenance of bank […]
MSME Benefits Under Atma Nirbhar Bharat Abhiyan Announced by Govt.
MSME Benefits Under Atma Nirbhar Bharat Abhiyan Announced by Govt. MSME stands for Micro, Small and Medium Enterprises. In a developing country like India, MSME industries are the backbone of the economy. Objective of ATMA- NIRBHAR BHARAT ABHIYAN Interim measures such as liquidity infusion and direct cash transfers for the poor. long-term reforms in growth-critical sectors […]