HC orders CAG Audit in Accounts of Delhi Jal Board from 2018 to 2021
Posted Date : 08-Feb-2024 , 07:39:06 am | Posted By CASANSAAR
The Delhi high court on Tuesday ordered the Comptroller and Auditor General of India (CAG) to expeditiously audit the annual accounts of Delhi Jal Board (DJB) for the period between 2018-19 and 2020-21.
The court’s direction comes months after chief minister Arvind Kejriwal in December 2023...
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Auditing |
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GST authorities issue notices over input tax credit discrepancies
Posted Date : 08-Feb-2024 , 07:26:30 am | Posted By CASANSAAR
Goods and services tax (GST) authorities have issued notices to several companies for discrepancy in claim of input tax credit, or ITC, people aware of the matter said. This follows close scrutiny of input tax availed by the companies and mismatch with their annual return.
GST authorities have is...
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GST |
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ED Conducts Raid at AAP MP and Past President of ICAI ND Gupta’s Residence
Posted Date : 06-Feb-2024 , 01:18:52 pm | Posted By CASANSAAR
The Enforcement Directorate (ED) raided premises linked to Delhi Chief Minister Arvind Kejriwal’s personal secretary Bibhav Kumar, and Aam Aadmi Party (AAP) Rajya Sabha MP, Past President of ICAI Sh.ND Gupta in connection with a money laundering probe related to the Jal Board case.
The cent...
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ICAI |
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GST Council may consider pan-India rollout of biometric-based authentication for registration - CBIC
Posted Date : 02-Feb-2024 , 09:45:15 pm | Posted By CASANSAAR
The GST Council may take up a proposal to make biometric-based Aadhaar authentication mandatory pan-India for suspicious persons, seeking GST registration, CBIC chief Sanjay Kumar Agarwal said on Friday.
Currently, two states — Gujarat and Andhra Pradesh — and the Union Territory of P...
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GST |
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Interim Budget Proposes to retian Tax Rates for Direct and Indirect Taxes
Posted Date : 02-Feb-2024 , 08:47:52 am | Posted By CASANSAAR
“Keeping with the convention, I do not propose to make any changes relating to taxation and propose to retain the same tax rates for direct taxes and indirect taxes including import duties,” said the Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, whi...
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Budget |
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Highlights of the Interim Union Budget 2024-25
Posted Date : 02-Feb-2024 , 08:46:08 am | Posted By CASANSAAR
With the ‘mantra’ of ‘Sabka Saath, Sabka Vikas, and Sabka Vishwas’ and the whole of nation approach of “Sabka Prayas”, the Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman presented the Interim Union Budget 2024-25 ...
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Budget |
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ITR 2, ITR 3 & ITR 5 for AY 2024-25 Released by CBDT
Posted Date : 02-Feb-2024 , 08:42:29 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has notified Income-tax Return Form 2 and 3 for the Assessment Year 2024-25. Rule 12 has been amended to allow individuals and HUF, who are liable to tax audit under section 44AB, to verify return of income through electronic verification code.
The Central...
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ITR |
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RBI bars Paytm Payments Bank from offering services effective March 2024
Posted Date : 01-Feb-2024 , 08:18:12 am | Posted By CASANSAAR
Reserve Bank of India has imposed restrictions on Paytm Payments Bank and barred the entity from offering incremental banking services effective March 2024, due to concerns regarding breach of and compliance with regulatory norms.
“The Comprehensive System Audit report and subsequent compli...
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RBI |
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Income Tax e-filing portal to be down for maintenance from Feb 3 to 5
Posted Date : 01-Feb-2024 , 08:13:53 am | Posted By CASANSAAR
The Income Tax department on Wednesday said that services for taxpayers on the e-filing portal will not be available between February 3 and early February 5 on account of scheduled maintenance.
“…taxpayer services on the e-filing portal will be restricted from 2 pm on Saturday (03....
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Income Tax |
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Rs. 1,72,129 Cr gross GST revenue collected during January 2024
Posted Date : 31-Jan-2024 , 09:31:58 pm | Posted By CASANSAAR
The gross GST revenue collected in the month of January, 2024 (till 05:00 PM of 31.01.2024) is Rs.1,72,129 crore, which shows a 10.4% Year-o-Year (Y-oY) growth over the revenue of Rs.155,922 crore collected in January 2023 (till 05:00 PM on 31.01.2023).
Notably, this is the...
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Category :
GST |
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High Court upholds provisions of anti-profiteering under GST
Posted Date : 31-Jan-2024 , 09:05:16 am | Posted By CASANSAAR
The Delhi High Court on Monday upheld the constitutional validity of the provisions related to anti-profiteering under the Central Goods and Services Tax Act and the establishment of National Anti-Profiteering Authority
In a setback to over 100 companies, including Hindustan Unilever (HUL), Nestl...
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GST |
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FM Nirmala Sitharaman Takes Part In Pre-Budget Halwa Ceremony
Posted Date : 25-Jan-2024 , 08:53:11 am | Posted By CASANSAAR
Nirmala Sitharaman participated in the pre-budget halwa ceremony. The traditional 'halwa ceremony', marking the final stage of the preparation process for interim Union Budget 2024, was held this evening at the Union Finance Ministry headquarters at North Block in Delhi. Union Finance Minist...
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Budget |
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GSTN Advisory on Urgent Submission of Bank Details to Avoid GSTIN Suspension
Posted Date : 24-Jan-2024 , 07:16:58 am | Posted By CASANSAAR
Advisory for furnishing bank account details by registered taxpayers under Rule 10A of the Central Goods and Services Tax Rules, 2017.
Mandatory Bank Account Details Submission as per law: All Registered Taxpayers are required under the provisions of CGST Act, 2017 and the corresponding Rules fra...
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GST |
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CBDT releases key Direct Tax Statistics through Time-Series data
Posted Date : 23-Jan-2024 , 09:31:32 pm | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has been releasing key statistics relating to Direct Tax collections and administration in public domain from time to time. In continuation of its efforts to place more and more information in public domain, the CBDT has further released Consolidated Time-Ser...
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CBDT |
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GSTN Advisory on Payment through Credit Card (CC)/Debit Card (DC) and Unified Payments Interface (UPI)
Posted Date : 20-Jan-2024 , 08:31:23 am | Posted By CASANSAAR
To facilitate the taxpayer registered under GST with more methods of payment, two new facilities of payment have now been provided under e-payment in addition to net-banking.
The two new methods are Cards and Unified Payments Interface (UPI). Cards facility includes Credit Card (CC) and Debit C...
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GST |
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More action against pre-2018 Audit Violations likely - NFRA
Posted Date : 18-Jan-2024 , 06:35:02 pm | Posted By CASANSAAR
The National Financial Reporting Authority (NFRA) would take further actions on defaulting auditors this year, for pre-2018 cases as well, chairperson Ajay Bhushan Pandey said on Tuesday. The NFRA’s move follows the National Company Law Appellate Tribunal’s (NCLAT) ruling in December tha...
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NFRA |
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Aadhaar will not be considered as valid proof of date of birth - EPFO
Posted Date : 18-Jan-2024 , 06:26:12 pm | Posted By CASANSAAR
Retirement fund body EPFO has said it will no longer use Aadhaar as a valid document for proof of date of birth.
In an official circular on January 16, the Employees' Provident Fund Organisation (EPFO) said the decision to remove Aadhaar was taken following a directive from the Unique...
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Category :
General |
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SEBI proposes easier rules for startup listings
Posted Date : 15-Jan-2024 , 10:15:08 pm | Posted By CASANSAAR
In a measure that could bring relief to promoters of startups, the Securities and Exchange Board of India (Sebi) is in favour of relaxing the rules on the minimum promoters’ contribution at the time of an initial public offering (IPO).
As startup founders typically dilute their stakes in th...
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SEBI |
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Revised norms on fair lending practice effective from April 1 - RBI
Posted Date : 15-Jan-2024 , 09:52:03 pm | Posted By CASANSAAR
The revised fair lending practice, which prohibits banks and NBFCs from using penal charges on loan defaults as a revenue enhancement tool, will come into effect from April 1, the Reserve Bank said on Monday.
Concerned over the practice of banks and non-banking financial companies (NBFCs) using p...
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RBI |
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GST authorities drop plans to enforce stricter e-way bill norms
Posted Date : 11-Jan-2024 , 06:46:07 pm | Posted By CASANSAAR
Goods and Services Tax (GST) authorities have dropped a plan to block generation of goods transportation permits, or e-way bills, from 1 March for companies that fail to produce 'e-invoices' for their wholesale transactions through designated portals. These portals aid in more accurate data ...
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GST |
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NFRA plans annual auditors inspections to curb discrepancies
Posted Date : 10-Jan-2024 , 08:18:59 am | Posted By CASANSAAR
The National Financial Reporting Authority (NFRA) is all set to conduct annual inspections of major audit firms, including the Big Four, to ensure compliance. In December 2023, the regulator released inspection reports highlighting deficiencies in the audit processes of major firms like BSR & Co...
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NFRA |
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NFRA slapped a penalty of Rs 20 lakh on CA & 10 year debarment for professional misconduct
Posted Date : 09-Jan-2024 , 09:04:18 pm | Posted By CASANSAAR
The National Financial Regulatory Authority (NFRA) has slapped a penalty of Rs 20 lakh and a ten-year debarment on a chartered accountant for professional misconduct, failure to exercise due diligence, and gross negligence in the Statutory Audit of Seya Industries Limited on Tuesday. In another matt...
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NFRA |
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CA Final & Intermediate Nov. 2023 Exam Pass Percentage and Toppers
Posted Date : 09-Jan-2024 , 08:36:03 pm | Posted By CASANSAAR
Press Release - Results of CA Final & Intermediate Examination held in November, 2023 Declared.
The Institute of Chartered Accountants of India (ICAI) today announced the results of the Chartered Accountants Final & Intermediate Examination held in November, 2023. Details of the s...
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Category :
CA Results |
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29,273 bogus firms, GST evasion of Rs 44,015 Cr detected since May 2023
Posted Date : 08-Jan-2024 , 07:54:56 am | Posted By CASANSAAR
Goods and Services Tax (GST) authorities have detected 4,153 bogus firms involved in suspected evasion of input tax credit (ITC) worth around Rs 12,036 crore during October-December 2023, the Ministry of Finance said in a statement Sunday. While Maharashtra is in the top spot among 36 states and uni...
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GST |
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SEBI bans naked short selling, no institutional investor shall be allowed to do day trading
Posted Date : 06-Jan-2024 , 09:41:00 am | Posted By CASANSAAR
The Securities and Exchange Board of India (SEBI) on Friday said that investors across all categories will be allowed for short selling, but naked short selling will not be permitted. The market regulator also said all stocks that trade in the futures and options (F&O) segment are eligible for s...
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SEBI |
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CA Final and Inter Nov.23 Exams Result are likely to be declared on 9th Jan.24
Posted Date : 05-Jan-2024 , 08:38:17 am | Posted By CASANSAAR
Results of the Chartered Accountants Final and Intermediate Examinations held in November 2023 are likely to be declared on Tuesday, the 9th January 2024
The results of the Chartered Accountants Final and Intermediate Examinations held in November 2023 are likely to be declared on Tuesday, the 9t...
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CA Results |
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RBI proposes banks with less than 6% net NPAs to declare dividends
Posted Date : 03-Jan-2024 , 08:31:24 am | Posted By CASANSAAR
The Reserve Bank on Tuesday proposed allowing banks having net non-performing assets (NPAs) ratio of less than 6 per cent to declare dividends.
As per the prevailing norms last updated in 2005, banks need to have a NNPA ratio of up to 7 per cent to become eligible for declaration of dividends.
...
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RBI |
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GSTN Advisory on the functionalities available on the portal for the GTA taxpayers
Posted Date : 03-Jan-2024 , 08:27:08 am | Posted By CASANSAAR
Dear Taxpayers,
The following Functionalities are made available on the portal for the GTA Taxpayers.
To Access: Post login on the FO portal-Click YES on the pop up message on post login (or) Navigate to Services>>User Services>>GTA>>Opting Forwa...
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GST |
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RBI asks banks to annually review accounts inoperative for over a year
Posted Date : 02-Jan-2024 , 08:55:09 am | Posted By CASANSAAR
The Reserve Bank of India has asked banks to annually review accounts that have not seen customer-induced transactions for over a year, and term deposit accounts where there is no explicit renewal mandate and the funds have not been withdrawn after maturity.
It also barred banks from levying pena...
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RBI |
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Record 8.18 Cr ITRs (Income Tax Returns) filed so far in current financial year
Posted Date : 02-Jan-2024 , 08:34:24 am | Posted By CASANSAAR
A record eight crore 18 lakh Income Tax Returns, ITRs were filed in the current financial year till Sunday. This is nine per cent more than the total ITRs filed in the last fiscal. According to Central Board of Direct Taxes, around 7.5 crore ITRs were filed last year during the same period.
Finan...
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Category :
ITR |
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