Open, a small and medium enterprise focused neo-bank, announced that it has raised INR 735 crores (USD 100 million) in a Series C funding round. The round was led by Singapore state-sponsored Temasek Holdings while other investors were Google & Japan-based SBI Investment and among existing investors were Tiger Global and 3one4 Capital. The startup was valued at USD 500 […]
SEBI revises formats for filing of Financial Information The SEBI has decided to revise the formats for reporting of financial information and limited review report. The new format shall contain the items mentioned in the Statement of Profit and Loss (excluding notes and detailed sub classification) as prescribed in Schedule III of the Companies Act, 2013 and the extent and […]
Dear reader, We were excited to be part of lunch meeting organised by AIG (Active Investors Group) on a boat. AIG is active group of global high Net Worth investors which has collective equity market investing experience of over 50 years. Investors hails from diverse background including IT professionals, businessman, health professionals, engineers and finance professionals. RNM Accountants (UK) Ltd […]
In this edition we have tried to bring to your notice the latest amendment that followed in the month of September, 2021 issued by MCA, RBI, SEBI, BSE, NSE and others. Amendments issued by MCA Relaxation for filing Cost Audit Report: MCA has granted relaxation of additional fees and extension of the last date of filing of Cost Audit Report […]
On consideration of difficulties reported by the taxpayers and other stakeholders in electronic filing of certain Forms under the provisions of the Income-tax Act, 1961 read with Income-tax Rules, 1962 (Rules), Central Board of Direct Taxes (CBDT), in exercise of its powers under section 119 of the Act, extends the due dates for electronic filling of such forms as under. […]
GST Calendar – Compliances for the month of September 2021 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) October 10, 2021 GSTR-8 (Tax Collected at Source ‘TCS’) October 10, 2021 GSTR-1 September 2021 October 11, 2021 IFF- Invoice furnishing facility (Availing QRMP) October 13, 2021 GSTR-6 September 2021 Input Service Distributor October 13, 2021 GSTR-2B (Auto Generated […]
Indian tea brand, Vahdam India, has raised about $24 million (Rs 174 crore) as a part of its Series D round led by IIFL AMC’s Private Equity Fund. The current round of investment, the total funding raised by Vahdam India stands at Rs 290 crore. Post this funding, the company’s valuation stands at about Rs 700 crore. The company’s existing […]
Recent amendment 1. The Ministry of Corporate Affairs issued separate notifications on 24th of March 2021 with a view to promote transparency and accountability in company financial statement, whereby, it brought about changes in the Companies (Audit and Auditors) Rules 2014 (Audit Rules) and also in the Companies (Accounts) Rules 2014 (Accounts Rules) and in Schedule III of the Companies Act 2013. […]
Opportunity and risk work together in a business to chart the path of success (or failure). The markets move on the assumption of a direct relationship between risk and reward – the greater the potential upside, the higher the risks involved. At the same time, the converse may not be true as situations involving higher risk may have little or […]
On consideration of difficulties reported by the taxpayers and other stakeholders in electronic filing of certain Forms under the provisions of the Income-tax Act, 1961 read with Income-tax Rules, 1962 (Rules), Central Board of Direct Taxes (CBDT), in exercise of its powers under section 119 of the Act dated 29th Aug 2021, extends the due dates for electronic filling of […]