Page 6 - Financial Year

RBI to transfer Rs 99,122 cr as dividend to govt, changes accounting year

The transfer was approved on Friday in the meeting of the regulator's Central board.

How to deduct TDS against salary under new rules from April? CBDT clarifies

The circular also addresses the confusion that there cannot be a change in option by the employee during the year, coming as a relief for employers

Businesses likely to face challenges in preparing financial reports in FY21

The spillover of compliance requirements from FY20 to FY21 makes experts wary of the ripple effect on business financials

Covid-19: Sensex posts biggest quarterly fall, Nifty's worst in 28 years

Meanwhile, foreign portfolio investors (FPIs) have pulled out net of Rs 55,007 crore (approx. $7.4 billion) from Indian equities in March 2020

Top headlines: Extended financial year recommended, surge in premium views

From Indian IT firms unlikely to layoff employees, ads in sports industry on the decline to rural wages set to take a hit, Business Standard brings you top headlines of the day

Industry calls for extended financial year due to coronavirus pandemic

The auditors cited issues such as physical verifications of inventories, fixed assets, balance confirmations, fair-value measurements, and going-concern assessments

GDP growth slows to nearly 7-year low of 4.7% in Q3 on weak manufacturing

Interestingly, the GDP estimates for FY19 have been revised downwards significantly, pushing up quarterly growth estimates for the current financial year

Financial year change to Jan-Dec ruled out, all states not in favour

Govt did not see many advantages in switching to this cycle

We are considering changing financial year to Jan-Dec, says Arun Jaitley

He declined to elaborate whether the budget presentation would be advanced to November or December

If the financial year changes

Businesses coming to terms with Ind-AS implementation, GST can do without further uncertainty, costs