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Showing posts with the label financial year 2019-20

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Reliance Jio IPO: India's Biggest IPO Coming Soon? Valuation, ARPU, and Latest News

  New Delhi : Financial specialists are profoundly excited almost the Dependence Jio IPO and are anticipating it with awesome expectation. After two decades, Dependence Businesses is set to dispatch an IPO for one of its major commerce units. Presently, Mukesh Ambani has given a critical upgrade with respect to this Jio IPO . The draft outline for Jio Stages is anticipated to be recorded following month. This may possibly be the biggest IPO in the country's history. Dependence has designated a consortium of 19 banks to oversee this process.   Mukesh Ambani, Chairman of Dependence Businesses, has dropped a major indicate with respect to the exceedingly expected IPO of Jio Stages. Depicting it as a "definitive breakthrough," Ambani signaled that the company is quickly progressing in its arrangements for what is balanced to be India's largest-ever IPO. Talking amid the company's profit discharge, Ambani expressed, "I am satisfied to share that we are making...

Income Tax Alert | It is important to remember these three dates to fill the ITR of FY 2019-20

  Given the impact of the coronavirus epidemic and nationwide lockdown, the government has given taxpayers some leeway in terms of tax compliance. The lockdown was implemented in March this year. Therefore, the government had also announced to extend the period of filing the income tax returns of the previous financial year with the investment deadline for taxpayers eligible to receive tax exemption for FY 2019-20. Along with this, companies have also been given exemption in the deadline to issue Form-16. It is noteworthy that Form-16 is required to fill the income tax return.   In such a situation, you need to look at the important dates for filing income tax returns this year:   1. Investment deadline for tax exemption: The government had extended the investment deadline in tax saving schemes for the financial year 2019-20 from March 31, 2020, to June 30, 2020. However, this deadline was later extended for another month. Now the period of investment in tax savi...

Interest on provident fund deposits will be 8.5% in 2019-20

The Employees Provident Fund Organization (EPFO) reduced the interest rate on provident fund deposits to 8.5 per cent for the current financial year 2019-20. This is the lowest level in seven years. EPFO paid 8.65% interest on EPF to its 6 crore members for 2018-19. The decision to reduce interest was made by the Central Board of Trustees (CBT) of EPFO, the apex decision-making body in EPFO. The latest EPFO ​​decision will be sent to the Finance Ministry for approval, as the EPF guarantor is the central government. The Finance Ministry has been insisting on increasing the interest rate of EPF to the same rate as other small savings schemes of the government like PPF and Post Office Savings Schemes. EPF interest rates in the last few years Financial Year Rate of Interest on EPF 2018-19 8.65 % 2017-18 8.55 % 2015-16 8.65 % 2014-15 8.80 % 2014-15 8.75 % 2013-14 8.75 % 2...