SEBI tightens norms for public Banks on bad loan disclosures
Posted Date : 01-Nov-2019 , 09:05:35 am | Posted By CASANSAAR
Putting in place a stricter framework, Sebi on Thursday directed all listed banks to disclose any divergence in bad loan provisioning within 24 hours of receiving RBI's risk assessment report, rather than waiting to publish the details in their annual financial statements.
In recent months, t...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 449
|
 |
Canada’s largest Province Quebec introduces Values Test for Immigrants
Posted Date : 31-Oct-2019 , 12:22:42 pm | Posted By CASANSAAR
Quebec will require immigrants seeking permanent residency in the Canadian province to pass a "values" test to ensure they understand its new secularism law, the provincial government said on Wednesday.
The test is being implemented by Premier François Legault's Coalition d&#...
Continue Reading...
Category :
International Business |
Comments :
0 | Hits : 908
|
|
Gold amnesty scheme might be announced soon
Posted Date : 31-Oct-2019 , 09:06:01 am | Posted By CASANSAAR
The government may soon announce an amnesty scheme for gold to bring hordes of black money used in buying the yellow metal considered a safe investment option in India.
According to sources, the new amnesty scheme would allow gold hoarders to come clean on investment made using black money by dec...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1009
|
|
RBI imposes fine on Janata Sahakari Bank & Jalgaon Peoples Co-operative Bank
Posted Date : 30-Oct-2019 , 01:15:22 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) has imposed a fine of Rs 1 crore on Pune-based Janata Sahakari Bank and Rs 25 lakh on Jalgaon Peoples Co-operative Bank for violating income recognition, advances management and asset classification norms.
The central bank said in a release today that the penalty h...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1055
|
|
PFRDA permitted now Overseas Citizen of India to enroll in NPS at par with Non-Resident Indians
Posted Date : 30-Oct-2019 , 01:05:34 pm | Posted By CASANSAAR
Pension Fund Regulatory and Development Authority (PFRDA) has now permitted Overseas Citizen of India (OCI) to enroll in National Pension Scheme (NPS) at par with Non-Resident Indians vide Circular No: PFRDA/2019/19/PDES/3 dated 29th October 2019. The Government vide notification S.O. 3732(E) dated ...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 436
|
|
RBI Imposes Rs.1 Crore Penalty On Bandhan Bank
Posted Date : 30-Oct-2019 , 08:23:04 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Tuesday imposed a penalty of Rs. 1 crore on Bandhan Bank for not bringing down the promoter shareholding to 40 per cent. Bandhan MFI had obtained in-principle universal banking license from the central bank in 2014 and started full-fledged operations as a bank from...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 926
|
|
Justice Sharad Arvind Bobde appointed next Chief Justice of India
Posted Date : 29-Oct-2019 , 12:20:57 pm | Posted By CASANSAAR
President Ram Nath Kovind on October 29 signed a warrant to appoint Justice Sharad A. Bobde as the next Chief Justice of India (CJI).
He will take oath and charge as the next CJI on November 18. His term will extend until April 2021.
...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 404
|
|
Government starts hiring process for NFRA
Posted Date : 29-Oct-2019 , 10:43:11 am | Posted By CASANSAAR
The Government has started process to hire people for the National Financial Reporting Authority (NFRA), a senior official said.
The independent watchdog for the auditing profession is looking into alleged accounting issues at IL&FS and Infosys, following directives from the government.
Th...
Continue Reading...
Category :
NFRA |
Comments :
0 | Hits : 755
|
|
Income Tax notices can be sent to old address - SC
Posted Date : 29-Oct-2019 , 10:36:38 am | Posted By CASANSAAR
If you have not updated the address in the PAN (Permanent Account Number) database, then the Income Tax Department has every right to send any notice at your old address and complete the assessment accordingly.
In an important judgement recently, the Supreme Court has made it clear that the notic...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 786
|
|
IBC resolutions exceed new time limit of 330 days prescribed by Govt
Posted Date : 29-Oct-2019 , 10:33:22 am | Posted By CASANSAAR
The average time taken for completion of 156 CIRPs that have yielded resolution plans has overshot the government's revised deadline of 330 days for completion of the process.
According to the Insolvency and Bankruptcy Board of India (IBBI) data, till September 2019, 156 CIRPs have yielded re...
Continue Reading...
Category :
Insolvent Professional |
Comments :
0 | Hits : 242
|
|
Gujarat HC serves notices on Govt, GST council for breach of refund norms
Posted Date : 28-Oct-2019 , 09:27:42 am | Posted By CASANSAAR
The Gujarat High Court has issued notices to the union government and the GST Council over the alleged breach of refund norms by field officers under the goods and services tax (GST) regime.
Under the Rule 92 of the Central GST (CGST) Act, the claim of the refund has to be made in the RFD 04 form...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 940
|
|
Notice issued to a person not existing in the eyes of law - Valid or not?
Posted Date : 26-Oct-2019 , 02:16:16 pm | Posted By CASANSAAR
Notice issued to a person not existing / not alive in the eyes of law - Valid or not explained by Adv (CA) Kapil Goel with CA Vivek khurana.
Don't Forget to SUBSCRIBE CA Sansaar YouTube Chanel.
https://www.youtube.com/channel/UC4-Bk3Aw5QKFpn9gw_vFJDw?view_as=subscriber
...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 575
|
|
MCA reviews list of economic offenders, names sent to home ministry for action
Posted Date : 26-Oct-2019 , 10:20:50 am | Posted By CASANSAAR
Ministry of Corporate Affairs (MCA) has recently reviewed a list of individuals and corporates under the scanner over potential cases of financial irregularities. The ministry has referred over 80 names under various categories of look out circulars (LOC) after the review, government sources said.
...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 523
|
|
Concessional GST Guidelines revised for purchase of Vehicle by Disabled
Posted Date : 26-Oct-2019 , 10:12:20 am | Posted By CASANSAAR
Department of Heavy Industry, Ministry of Heavy Industries & Public Enterprises, Government of India, in pursuance of Ministry of Finance Notification No. 14/2019-Integrated Tax Rate dated 30.09.2019, has notified the revised guidelines for availing the concessional rate of GST, for purchase of ...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 882
|
|
NCLAT asks ED, MCA to reach consensus on BPSL assets
Posted Date : 25-Oct-2019 , 01:03:42 pm | Posted By CASANSAAR
The National Company Law Appellate Tribunal (NCLAT) on Friday asked the divergent Enforcement Directorate and the Ministry of Corporate Affairs to discuss and reach a consensus on the attachment of assets of Bhushan Power and Steel (BSPL).The ministry and directorate have locked horns over the issue...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 314
|
|
Accounts with J&K Bank under ED scanner
Posted Date : 25-Oct-2019 , 09:46:18 am | Posted By CASANSAAR
The Enforcement Directorate (ED) is investigating several accounts with the J&K Bank, in which huge amounts were deposited and then withdrawn in cash over a period of time.
The agency is trying to ascertain the source of deposits in such accounts.
Based on the cases registered by the Jammu...
Continue Reading...
Category :
Accounts |
Comments :
0 | Hits : 853
|
|
DGGI, Gurugram, busts racket issuing fake GST invoices of more than Rs 136 Cr
Posted Date : 24-Oct-2019 , 06:28:26 pm | Posted By CASANSAAR
The Directorate General of GST Intelligence (DGGI), Gurugram Zonal Unit, Gurugram arrested Sh. Rajiv Gupta on 23.10.2019, partner in M/s RST Batteries, Mundka Delhi and Director of M/s RST Batteries Pvt. Ltd Bahadurgarh, Haryana for orchestrating a racket involving fake invoices valued at more than ...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1058
|
|
FM promises further GST simplification to help India improve biz ranking
Posted Date : 24-Oct-2019 , 06:14:20 pm | Posted By CASANSAAR
Union Finance Minister Nirmala Sitharaman on Thursday said efforts will be made to further simplify Goods and Services Tax, and expressed hope that it will help in further improving India's ranking in the World Bank's ease of doing business index.
India has jumped 14 places to rank 63rd i...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 708
|
|
What are the CPE hours requirements for the members of ICAI
Posted Date : 24-Oct-2019 , 10:17:31 am | Posted By CASANSAAR
What are the CPE hours requirements for the members of ICAI
(CPE hours requirements for the members of ICAI explained by CA.Vivek Khurana)
https://youtu.be/aquKPFch3wY
Don't Forget to SUBSCRIBE CA Sansaar YouTube Chanel.
...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 699
|
|
Cabinet approves MoU between India and Kuwait in the field of accounting, finance and audit
Posted Date : 24-Oct-2019 , 10:07:49 am | Posted By CASANSAAR
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the Memorandum of Understanding (MoU) for capacity building and strengthening the accounting, financial and audit knowledge base in Kuwait.
Institute of Chartered Accountants of India (ICAI) and Kuwait Accountants and...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 700
|
|
30,000 individuals under I-T scanner for money remitted abroad via RBI scheme
Posted Date : 24-Oct-2019 , 09:55:49 am | Posted By CASANSAAR
Around 30,000 individuals who remitted money abroad through the Liberalised Remittance Scheme (LRS) are under the Income Tax Department's scanner, reports Business Standard.
The department has issued scrutiny notices to assessees, asking for details of foreign accounts, properties and shares ...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 735
|
|
Income Tax raids unearth Rs 1,000 Cr worth hawala money in Delhi
Posted Date : 24-Oct-2019 , 09:44:42 am | Posted By CASANSAAR
In a massive search operation in Delhi, the Income Tax (I-T) department has unearthed hawala and other accommodation entries of more than Rs 1,000 crore.
The tax department has also found links to money laundering involving the business group engaged in e-governance projects and financial service...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 955
|
|
SEBI moves SC against SAT's order in PwC case
Posted Date : 23-Oct-2019 , 10:51:07 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) has appealed in the Supreme Court against the Securities Appellate Tribunal (SAT) order in the Price Waterhouse (PW) case. On September 9, the tribunal had quashed the order passed by the regulator against the global audit firm for its role in the Sa...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 540
|
|
RBI bans use of agents to chase loans
Posted Date : 23-Oct-2019 , 10:38:13 am | Posted By CASANSAAR
The Reserve Bank of India has banned the use of direct selling agents (DSAs) to source retail loans and carry out physical verification of documents of borrowers. This was communicated by the central bank in a response to queries raised by the banking industry, two senior bankers told ET.
While t...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 936
|
|
Online proficiency self-assessment test for independent directors from Dec
Posted Date : 23-Oct-2019 , 10:35:40 am | Posted By CASANSAAR
All independent directors will soon have to take an “online proficiency self-assessment test” before they are appointed to company boards, according to an amendment to the Companies Act notified by the Ministry of Corporate Affairs (MCA) on Tuesday. This rule will come into effect from D...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 798
|
|
NCLT allows MCA to appoint statutory auditors to IFIN
Posted Date : 23-Oct-2019 , 10:21:18 am | Posted By CASANSAAR
The National Company Law Tribunal (NCLT) has allowed the ministry of corporate affairs (MCA) to appoint Mukund M Chitale & Co the statutory auditor for IL&FS Financial Services (IFIN).
IFIN, in its board meeting, had appointed Mukund M Chitale & Co the statutory auditor for the compan...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 501
|
|
SEBI might investigate whistle-blowers' complaints on Infosys
Posted Date : 23-Oct-2019 , 10:15:30 am | Posted By CASANSAAR
The Securities and Exchange Board of India (SEBI) may seek clarification from Infosys' management on charges level levelled by the whistle-blower.
Unnamed whistle-blowers on behalf of employees wrote to the US-based office of the Whistleblower Protection Program on October 3 alleging wilful m...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 453
|
|
Assessment thorough e-Proceedings or faceless e-Assessment under income tax act
Posted Date : 22-Oct-2019 , 10:41:09 am | Posted By CASANSAAR
...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 564
|
|
MCA amends rules to allow Companies to comply with KYC norms
Posted Date : 22-Oct-2019 , 10:28:53 am | Posted By CASANSAAR
In a relief to companies that had been rendered inactive after they failed to comply with the know-your-customer rules, the government has given them an option to change their status and become active.
The Ministry of Corporate Affairs (MCA) has amended rules to allow such companies to make a fil...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 3477
|
|
ePayments mandatory for businesses over Rs 50 Cr from Nov 1 - CBDT
Posted Date : 22-Oct-2019 , 10:25:56 am | Posted By CASANSAAR
Government has asked businesses with turnover exceeding Rs 50 crore to mandatorily provide electronic modes of payment from November 1. To this end, a new provision, namely Section 269SU, has been inserted in the Income-tax Act, said Central Board of Direct Taxes in a statement.
The CBDT further ...
Continue Reading...
Category :
CBDT |
Comments :
0 | Hits : 11394
|
|
|
