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Prime Minister Narendra Modi on Friday asked tax officials to be friendly to honest taxpayers as part of his efforts to end the fear of the taxman and make India a more tax compliant society. Inaugurating the second edition of 'Rajaswa Gyan Sangam' -- the joint conference of direct and an...

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Category : Income Tax | Comments : 0 | Hits : 190

Former home secretary Rajiv Mehrishi is to be the next Comptroller and Auditor General (CAG) of India. He will replace the present incumbent Shashi Kant Sharma who completes his term on 30th of this month. Mehrishi has emerged as the top choice for the post. A formal order on this is expected soo...

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Category : General | Comments : 0 | Hits : 246

Due-date for filing Income Tax Returns & various reports of audit prescribed under the IT Act,1961 has been extended to October 31, 2017. ...

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Category : Tax Audit | Comments : 0 | Hits : 23177

NEW DELHI: There is good news for taxpayers as the income tax department has extended the deadline to link PAN with Aadhaar by 4 months to December 31. The department had earlier said that tax returns filed without linking of Aadhaar and PAN would not be taken up for processing unless the two were l...

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Category : Finance | Comments : 0 | Hits : 265

The Centre on Wednesday told the Supreme Court that they would extend till December 31, the deadline to furnish Aadhaar for availing the benefits of various social welfare schemes.   Attorney General K K Venugopal made the submission that the current deadline of September 30 has been shifted ...

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Category : PAN | Comments : 0 | Hits : 550

 The Supreme Court today said it would hear a batch of petitions on Aadhaar-related matters in November after the Centre informed that it will extend till December 31 the deadline to furnish Aaadhar to avail benefits of social welfare schemes. A bench headed by Chief Justice Dipak Misra said...

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Category : PAN | Comments : 0 | Hits : 143

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its approval to the proposal of the Finance Ministry to promulgate an ordinance to suitably amend the Goods and Services Tax (Compensation to States) Act, 2017. The approval would allow to increase the maximum rate at which ...

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Category : GST | Comments : 0 | Hits : 465

Two months after the rollout of GST, Prime Minister Narendra Modi today said apprehensions with regard to the indirect tax regime have been proven to be unfounded and a smooth transition has happened. He asked chief secretaries of all states to further boost efforts to increase registration under...

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Category : GST | Comments : 0 | Hits : 158

The Reserve Bank of India today in its annual report says that almost 99 per cent of banned Rs 500 and Rs 1000 notes that were demonetised last November have returned to the system.  In the report for 2016-17, the RBI said that out of 632.6 crore pieces of Rs 1,000 currency notes in circulat...

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Category : RBI | Comments : 0 | Hits : 137

CASANSAAR is pleased to announce the launch of CASANSAAR Free Placement Cell for CA, CS, CMAs once again. This Cell will assist Job Seekers & Job Recruiters for best fit..   If you have requirement of CA / CS / CMA's in your office / Firm / ...

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Category : CA | Comments : 0 | Hits : 1604

The Reserve Bank of India (RBI) has sent commercial banks a second list of at least 26 defaulters with which it wants creditors to start the process of debt resolution before initiating bankruptcy proceedings, three bankers aware of the development said. In a letter, the central bank said these a...

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Category : RBI | Comments : 0 | Hits : 324

 India's maiden GST revenue mop-up got off to a bumper start, with Finance Minister Arun Jaitley saying today that taxes worth Rs 92,283 crore were collected in July from just 64.42 per cent of the total taxpayer base. Tax collections for July, the first month when a unified Goods and Se...

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Category : Finance | Comments : 0 | Hits : 223

At the age of 21 years this diamond city resident holds four degrees of which three are considered few of the toughest courses in country. Aditya Jhavar, a resident of Parvat Patiya area in city, became the youngest student to clear company secretary (CS), chartered accountant (CA) and cost and mana...

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Category : CA | Comments : 0 | Hits : 1075

The market regulator, Securities Exchange Board of India (SEBI) has cautioned the youth against falling for any scheme promising abnormal returns, reported a national news agency on Monday.   "Instead of going through allurement, investors are advised to go through terms and conditions o...

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Category : SEBI | Comments : 0 | Hits : 174

The Income Tax Department once again warned people against cash dealings of 2 lakh rupees and more, saying any violation of this cap will invite strict penalty under law. In a public message yesterday, the department said accepting 2 lakh rupees or more in aggregate from a single person in a day for...

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Category : Income Tax | Comments : 0 | Hits : 1197

The Madras High Court today ordered issue of notice to the Centre, including Principal Secretary (Revenue) and Tamil Nadu Commissioner of Commercial Taxes on a PIL seeking to direct traders to use E-way billing for movement or selling of goods in order to prevent cheating. Justices K K Sasidharan...

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Category : GST | Comments : 0 | Hits : 419

Over 36 lakh businesses have so far filed their first tax returns under the Goods and Services Tax (GST) regime, a top tax official said today. Tax collected in the maiden filings under the GST regime, which kicked in from July 1, are still being compiled as the last date for filings under differ...

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Category : GST | Comments : 0 | Hits : 249

Tax practitioners have urged the government to grant more time for filing tax returns and invoices for the month of July, the first month since the roll-out of the goods and services tax (GST), as businesses and traders strive to adjust to the new indirect tax system. While many firms managed to ...

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Category : GST | Comments : 0 | Hits : 561

As many as 2,964,653 filers had submitted returns for July under the goods and services tax (GST) regime by the Friday evening. Friday was the deadline for filing returns. The number of filers are likely to increase as the day ends.   GST Network, which is responsible for the information tech...

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Category : GST | Comments : 0 | Hits : 217

To guide taxpayers in relation to GST matters, CBEC has issued a range of frequently asked questions related to GST law, procedures, tax rates, specific industry or sector.  The information is available on CBEC GST portal http://cbec-gst.gov.in under Services section. Taxpayers can se...

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Category : GST | Comments : 0 | Hits : 297

In a landmark decision, the Supreme Court today declared the right to privacy a fundamental right under the constitution.  A nine-judge constitution bench headed by Chief Justice JS Khehar ruled that right to privacy is an intrinsic part of the Right to Life and Personal Liberty under Articl...

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Category : General | Comments : 0 | Hits : 219

The central bank is considering an 'ombudsman' scheme for redressal of customer grievances at non-banking finance companies (NBFCs) in line with banks, Reserve Bank of India (RBI) Deputy Governor NS Vishwanathan said on Wednesday. He also said the Reserve Bank is not in favour of NBFCs ac...

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Category : RBI | Comments : 0 | Hits : 191

The Securities Appellate Tribunal has given more time to Sebi for passing a fresh order in the Satyam case with respect to the quantum of punishment given to the erstwhile company's founder B Ramalinga Raju and his brother B Rama Raju. The tribunal on May 12 had asked Sebi to pass a fresh ord...

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Category : SEBI | Comments : 0 | Hits : 187

Government has clarified that five percent GST is applicable on selling of space for advertisement in print media if an agency buys space from the newspaper and sells the same to clients on its own account. However, the GST rate will be 18 percent of the sale commission, if the agency works as an...

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Category : GST | Comments : 0 | Hits : 221

The finance ministry has modified the cash management system of the Central government to incorporate the change in date of tax receipts arising out of the new indirect tax regime of the Goods and Services Tax (GST). In an office memorandum, the finance ministry has asked all financial advisers of a...

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Category : GST | Comments : 0 | Hits : 297

Even though as a whole states' revenue may clip past at a CAGR of 16.6 per cent in FY18 over FY16 under the GST, 11 of them may need an additional Rs 9,500 crore compensation from the Centre this year, says a report.  "All states combined will grow at a CAGR of 16.6 per cent in FY18...

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Category : GST | Comments : 0 | Hits : 238

The Securities and Exchange Board of India (SEBI) and the income-tax department are investigating the role of about 100 brokerages which they believe may have helped shell companies launder as much as Rs16,000 crore by compromising so-called know-your-customer (KYC) norms, said two people with direc...

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Category : Shares & Stock | Comments : 0 | Hits : 399

The income tax department will not increase the number of tax returns taken for scrutiny — currently at 1 percent of all I-T returns filed — even though more and more people are filing for returns. Only 3 lakh among 528 lakh total income tax returns (ITR) filed for 2015-16 were scruti...

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Category : ITR | Comments : 0 | Hits : 372

Income Tax department on Monday morning conducted a massive raid in Delhi and National Capital Region (NCR), a media report said.  Over 500 I-T department officials are already on the way to conduct searches in the capital of the country, as reported by DNA.  As per the report, the s...

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Category : Income Tax | Comments : 0 | Hits : 714

As much as Rs 42,000 crore has already come in as taxes so far in the first monthly filing under the new Goods and Services Tax (GST) regime and the revenues are expected to swell further as the filing cycle closes this later this week.  A senior official said that about Rs 15,000 crore has ...

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Category : GST | Comments : 0 | Hits : 818