Respected Members:

Quotes of the Day:

1. Our hopes & dreams should be like hair & nails. No matter how many times they get cut But they never stop growing.

2. Friendship is a silent gift of nature, More old more strong. More deep.more clear More close.. more warm, Less words.. more understanding

NICAI Updates:

1. TDS Reduced rate of interest of 9% pa for delayed payments of Income tax, TDS, GST etc applicable for payments made till 30.6.2020 Wef 1.7.2020, pay interest @18% pa.

2. File TDS Statements for Mar & Jun 2020 quarters by 31.7.20. Issue form 16 for FY 19-20 & Form 16A etc for Mar & Jun 2020 quarters by 15.8.2020.

3. ?GSTR For turnover above 5cr, file GSTR-3B for May by 27.06.2020 & by 20 of next month for Jun, Jul etc. For Turnover upto 5 cr, file for May, Jun & July till 30.09.2020.

4. NBFC-MFIs are planning to resume fresh lending in September, while the weak liquidity situation may impede the lending capacity of small and medium firms, Microfinance Institutions Network (MFIN) said. At present, some of these lenders are lending to merely a small fraction of borrowers who have started paying back dues after a two-month pause.

5. Union Cabinet approved an Ordinance to bring urban cooperative banks and multi-state cooperative banks under the supervision of Reserve Bank of India. This was announced by Union Minister Prakash Javadekar in a media briefing about the cabinet decisions. "It will give an assurance to 8.6 crore depositors in these banks that their money will stay safe. 

6. Commerce ministry has asked exporters to submit ''Certificate of Origin'' applications for shipments to all Asean countries, except Thailand. India has a free trade agreement (FTA) with 10-nation Asean (Association of South East Asian Nations) bloc. Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam are the members of the bloc.  


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With best regards,

CA (Dr)  Raj Chawla


712, New Delhi House, 27

Barakhamba Road, New Delhi-110001



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