The Finance Act, 2020
The finance Bill 2020 tabled in the parliament following the prolonged and promising budget speech by the Finance Minister, provides many expectations for the future of the economy and expiations for the past hardships of different sectors in the economy, including provisions for drastic restructuring of the tax regime.
MCA clarifies that contribution made to PM-CARES Funds shall qualify as CSR expenditure
The Ministry of Corporate Affairs vide its notification dated 28th March 2020 has clarified that any contribution made by corporate towards PM-CARES Fund will be considered as Corporate Social Responsibility expenditure under the Companies Act 2013.
RBI raises the borrowing limit of scheduled banks under the Marginal standing facility
The RBI has decided to raise the borrowing limit of Scheduled Banks (excluding Regional Rural Bank) under the Marginal Standing Facility scheme from 2 percent to 3 percent of their Net Demand and Time Liabilities (NDTL) outstanding at the end of the second preceding fortnight with immediate effect, till June 30, 2020.
Government of Odisha orders stoppage of all construction works
Immediate stoppage of all construction works across the State of Odisha, except construction work for health care facilities and work related to COVID-19.
Verification and Stamping of weights and measures under the Legal Metrology Act extended for 3 months
Extension of a period of three months for verification and stamping of weights and measures. Additional fees payable by the users of weights and measures for re-verification, due to expiry of validity of stamp on postponement of re-verification shall be relaxed for the extended period.
