Last date for filing DIR-3 KYC extended till 14th Oct 2019
Posted Date : 01-Oct-2019 , 08:52:11 am | Posted By CASANSAAR
Please note that the last date for filing DIR-3 KYC for Financial year 2018-19 has been extended till 14th October 2019. Stakeholders may kindly note and plan accordingly. - MCA
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Corporate Law |
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Govt compulsorily retires 15 more senior tax officials on graft charges
Posted Date : 28-Sep-2019 , 10:29:26 am | Posted By CASANSAAR
The government has compulsorily retired 15 more tax officers in the fourth tranche of its crackdown on errant officials accused of corruption and other malpractices.
The Central Board of Direct Taxes (CBDT) compulsorily retired 15 senior officers under Fundamental Rule 56(J) on corruption and oth...
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Income Tax |
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Finance Minister asks PSUs, ​ministries to release payments in a timely manner
Posted Date : 28-Sep-2019 , 10:22:36 am | Posted By CASANSAAR
The finance ministry has asked government departments to clear outstanding dues of suppliers and service providers worth Rs 20,000 crore within the first week of October to provide liquidity in the festival season. It also called for investment plans of ministries over the next four quarters in a bi...
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Finance |
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Forex reserves decline by USD 388 million to USD 428.57 billion
Posted Date : 28-Sep-2019 , 09:40:31 am | Posted By CASANSAAR
India's forex reserves declined by USD 388 million to USD 428.572 billion for the week ended September 20 due to a slide in core currency and gold assets. The Reserve Bank data released on Friday showed that in the week to September 20, foreign currency assets a major component of overall reserv...
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General |
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Date for filing ITRs,Tax Audit Reports extended till October 31
Posted Date : 27-Sep-2019 , 09:54:46 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has extended the due date for filing of income tax returns (ITRs) & Tax Audit Reports from September 30th 2019 to 31st Oct 2019 in respect of persons whose accounts are required to be audited. The CBDT said that a formal notification for the same will be ...
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CBDT |
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CBDT extends taxman's deadline to December 31 for Demonetisation Cases
Posted Date : 27-Sep-2019 , 08:23:36 am | Posted By CASANSAAR
The CBDT on Thursday extended the deadline up to December 31 for the Income-tax department to complete the final assessment of about 87,000 entities that made suspicious deposits post-demonetisation.
The existing deadline of September 30 is being "extended" by three months after conside...
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CBDT |
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SEBI asks mutual funds to invest in listed equity securities
Posted Date : 27-Sep-2019 , 08:21:42 am | Posted By CASANSAAR
With an aim to safeguard mutual fund investors from high-risk assets, regulator Sebi has asked asset management companies to make all their investments in listed or to-be-listed equity securities.
The new framework comes after the board of Securities and Exchange Board of India (Sebi) approved a ...
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SEBI |
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Income Tax Dept to scrutinise 4 lakh taxpayers under new e-assessment system
Posted Date : 27-Sep-2019 , 08:15:53 am | Posted By CASANSAAR
The Income Tax (I-T) Department has recognised around 4 lakh taxpayers who will face inspection under the new e-assessment scheme 2019. The new scheme was notified recently by the finance ministry for carrying faceless scrutiny of Income Tax Returns (ITR).
The I-T Department has served notices to...
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Income Tax |
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Constitution of High Level Independent Committee - ICAI
Posted Date : 27-Sep-2019 , 08:08:02 am | Posted By CASANSAAR
September 26, 2019
Announcement
Constitution of High Level Independent Committee
The Institute of Chartered Accountants of India (ICAI) has decided to constitute a High Level Independent Committee to look into the Examination processes/ Regulations governing CA Examinations including Regu...
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Category :
Students Zone |
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ITRs & Tax Audit Reports Extended from 30th Sep,2019 to 31st of Oct, 2019
Posted Date : 26-Sep-2019 , 10:33:04 pm | Posted By CASANSAAR
On consideration of representations recd from across the country,CBDT has decided to extend the due date for filing of ITRs & Tax Audit Reports from 30th Sep,2019 to 31st of Oct,2019 in respect of persons whose accounts are required to be audited.Formal Notification will follow.
Tweet by Inco...
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Category :
Tax Audit |
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RBI modifies directions slapped on PMC Bank
Posted Date : 26-Sep-2019 , 09:25:27 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) today reviewed and modified the directions slapped on Punjab and Maharashtra Cooperative Bank Ltd, Mumbai in Maharashtra.
According to the modified directives, it has been decided to allow the depositors to withdraw a sum not exceeding 10,000 rupees of the total ba...
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RBI |
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SEBI relaxes FPI norms, allows off-market transfer of securities
Posted Date : 26-Sep-2019 , 10:03:27 am | Posted By CASANSAAR
Easing the regulatory framework for foreign portfolio investors, Sebi has simplified KYC requirements for them and permitted them to carry out off-market transfer of securities.
Besides, the regulator has broad-based the classification for foreign portfolio investors (FPIs) and simplified their r...
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SEBI |
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CBDT to hold high-level review of I-T e-assessment system before its roll-out
Posted Date : 26-Sep-2019 , 09:59:45 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) will on Thursday conduct a pan-India review of the ambitious e-assessment system for income-tax payers before rolling it out next month. The CBDT, which frames policy for the Income-tax department, had last week set up the National e-assessment Centre (NeAC) ...
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CBDT |
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Rahul Gandhi supports students demand for ICAI exam papers re-evaluation
Posted Date : 25-Sep-2019 , 02:36:02 pm | Posted By CASANSAAR
Chartered accountancy (CA) students who have been protesting against the Institute of Chartered Accountants of India (ICAI) demanding a re-evaluation of their answer sheets have found support from Congress leader Rahul Gandhi.
"Across India 12 lakh CA students are fighting for their right ...
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Students Zone |
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Procedure and Process followed in Examination System
Posted Date : 25-Sep-2019 , 10:26:46 am | Posted By CASANSAAR
ICAI has made an announcement with respect to Evaluation of answer books of CA exams on 21st September, 2019. Thereafter, a webinar was conducted on 22nd September, 2019 wherein the procedure and processes followed in the examination system were explained and all the misgivings about the examination...
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Students Zone |
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RBI imposes restrictions on PMC Bank; withdrawal restricted to Rs 1,000 per account
Posted Date : 25-Sep-2019 , 10:03:23 am | Posted By CASANSAAR
As per the RBI directions to PMC Bank, withdrawals have been capped at Rs 1,000 per account and the bank is not allowed to make any fresh loans.
The RBI monitors banks' health and issues such directions in case of concerns over financial health of an institution. However, no reasons were spec...
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RBI |
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Section 7 Application under IBC governed by Article 137 of Limitation Act - SC
Posted Date : 25-Sep-2019 , 08:46:13 am | Posted By CASANSAAR
Supreme Court has held that applications under Section 7 of Insolvency and Bankruptcy Code (IBC) are governed by Article 137 of the Limitation Act for computation of limitation period.
The judgment was rendered by a Bench of Justices Rohinton Nariman, R Subhash Reddy and Surya Kant.
In the pre...
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Category :
Insolvent Professional |
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RBI puts Mumbai-based PMC Bank under directions
Posted Date : 24-Sep-2019 , 01:01:13 pm | Posted By CASANSAAR
The Reserve Bank of India has placed Mumbai-based Punjab and Maharashtra Cooperative Bank (PMC Bank) under directions for six months from the close of business of the bank on September 23, 2019.
The depositors will be allowed to withdraw a sum not exceeding ₹1,000 of the total balance in ev...
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Category :
Income Tax |
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Extension of Tax Audit Report - Request to Tweet / Retweet
Posted Date : 24-Sep-2019 , 10:03:26 am | Posted By CASANSAAR
No extension news till now for Last date of TAR, No response from Finance Ministry after lots of representation.
Request every Member to Please tweet / retweet to the Finance Minister and other authroites for the extension of Tax Audit Report Date. No use of Extension on 30th Septemeber (Last Dat...
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Category :
Tax Audit |
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CA Students protest against ICAI's evaluation methods, demand reforms
Posted Date : 24-Sep-2019 , 09:42:57 am | Posted By CASANSAAR
Students of ICAI and candidates who had appeared for ICAI exams have started a protest against the ICAI (Institute of Chartered Accountants of India) alleging error in evaluation of papers. Students all over India has started a protest today, September 23 demanding rechecking of papers.
#dearICAI...
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Students Zone |
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Bank unions defer 2-day strike; operations to be normal on Sept 26-27
Posted Date : 24-Sep-2019 , 09:37:04 am | Posted By CASANSAAR
Officers' unions of public sector banks have deferred the proposed two-day strike following an assurance from Finance Secretary Rajiv Kumar to look into their concerns.
Four unions of bank officers had threatened to go on a two-day strike from September 26 to protest against the consolidation...
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Category :
Banking |
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CBI arrests GST inspector, BoB manager in separate cases of bribery
Posted Date : 24-Sep-2019 , 09:17:13 am | Posted By CASANSAAR
The CBI has arrested an inspector of the Central Goods and Services Tax Department in Dhanbad for allegedly accepting a bribe of Rs 50,000 to settle a pending enquiry, officials said Monday.
Jeetan Das, an inspector in the CGST department, had allegedly demanded Rs 2 lakh for settling the enquiry...
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Category :
GST |
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GST Council takes in-principle decision to link Aadhaar with registration
Posted Date : 23-Sep-2019 , 08:50:51 am | Posted By CASANSAAR
The GST Council on September 20 took an in principle decision to link Aadhaar with registration of taxpayers under GST and also examine the possibility of making the 12-digit unique identification number mandatory for claiming refunds. The council also decided to withdraw a circular issued in June w...
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GST |
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CBDT issues order to set-up National centre for e-Assessment
Posted Date : 23-Sep-2019 , 08:36:51 am | Posted By CASANSAAR
A National e-Assessment centre (NeAC) will be setup in the national capital as part of the government’s ambitious plan to launch faceless and nameless assessment for income tax payers from next month.
The Central Board of Direct Taxes (CBDT), that frames policy for the Income-tax department...
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Category :
Income Tax |
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RBI tightens norms for banks, up penalties for failed ATM transactions
Posted Date : 21-Sep-2019 , 09:35:37 am | Posted By CASANSAAR
The Reserve Bank Friday prescribed a turnaround time (TAT) for banks to settle failed transactions for customers and also notified compensations payable for various types of customer complaints.
The financial compensation should be done suo motu by the bank, without waiting for a complaint or a c...
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RBI |
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GST Annual filing waived off for taxpayers below Rs 2 Cr turnover
Posted Date : 21-Sep-2019 , 09:30:47 am | Posted By CASANSAAR
The GST Council, in its 37th meeting held at Goa provided relief to MSMEs by allowing them waiver to file GSTR 9 and GSTR-9A.
Announcing the relaxation in filing of annual returns for MSMEs for FY 2017-18 and FY 2018-19, a statement said waiver of the requirement of filing FORM GSTR-9A for Compos...
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GST |
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President Kovind clears ordinance to amend Income Tax Act
Posted Date : 21-Sep-2019 , 09:28:22 am | Posted By CASANSAAR
The President Ram Nath Kovind on Friday cleared an ordinance to give effect to amendments in the Income Tax Act, 1961 and Finance Act, 2019. To arrest slowdown in the economy and boost growth, the government has cut corporate tax rate for new and domestic manufacturing companies.
For companies th...
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Income Tax |
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37th GST Council Meet Highlights
Posted Date : 21-Sep-2019 , 09:24:49 am | Posted By CASANSAAR
Finance Minister Nirmala Sitharaman on Friday announced the reduction of GST rates on a slew of items. All rate changes would be effective from 1 October
Higlights:
A uniform GST rate of 12 % will be levied on woven/non-woven polyethylene bags
GST council cuts tax rates on job work in diamo...
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GST |
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Govt cuts corporate tax rate to 22%, relief on buyback tax
Posted Date : 20-Sep-2019 , 12:27:05 pm | Posted By CASANSAAR
The government on Friday cut corporate tax rate for companies that do not avail of any tax incentive to 22%. Effective corporate tax rate after surcharge will be 25.17%.
New manufacturing companies will have to pay an even lower corporate tax rate of 15%.
Finance minister Nirmala Sitharaman to...
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Category :
Income Tax |
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0 | Hits : 645
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RBI revises norms for Concurrent Audit System of Banks
Posted Date : 20-Sep-2019 , 09:48:56 am | Posted By CASANSAAR
The Reserve Bank of India ( RBI) has revised the norms for concurrent audit system of banks.
Concurrent audit aims at shortening the interval between a transaction and its independent examination.
Some of the revised norms included the option to consider whether concurrent audit should be done...
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RBI |
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