Adjudicating Authority revokes benami attachment order against SRK
Posted Date : 30-Jan-2019 , 08:53:25 am | Posted By CASANSAAR
Actor Shah Rukh Khan has been absolved of the charge of being a beneficiary of a benami property in the scenic beach town of Alibaug in Maharashtra as an appellate Authority under the law has "revoked" the attachment order of the I-T Department, calling it baseless and coloured.
The Adj...
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Income Tax |
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Rajasthan HC notice to Centre, State Govt on GST input credit benefit delay
Posted Date : 30-Jan-2019 , 08:30:10 am | Posted By CASANSAAR
Rajasthan High Court on Tuesday issued notices to the Central government, state government and the GST Council seeking reply in four weeks on the denial of the input tax credit benefit.
Lakhani Metal and Castings Pvt. Ltd. of Bikaner had moved a petition challenging the clause (ii) of proviso of ...
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GST |
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Govt may ask taxmen to file GST profiteering pleas
Posted Date : 30-Jan-2019 , 08:28:02 am | Posted By CASANSAAR
The GST officials are working out mechanism to prompt taxmen to initiate profiteering complaints, which could be taken up for further investigation by the Directorate General of Anti-Profiteering (DGAP).
Currently, only consumers file complaints against businesses for not passing on the benefits ...
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GST |
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Govt empowers PSU banks to seek lookout circulars against wilful defaulters
Posted Date : 28-Jan-2019 , 08:42:36 am | Posted By CASANSAAR
In a bid to prevent big economic offenders like Vijay Mallya and Nirav Modi from fleeing the country, the government has empowered PSU banks to request lookout circulars (LOCs) against wilful defaulters and fraudsters, officials said on Sunday.
The Home Ministry has also authorised the Serious Fr...
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Banking |
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IL&FS may hire Auditors to check 5 years’ accounts
Posted Date : 27-Jan-2019 , 08:29:03 pm | Posted By CASANSAAR
Troubled infrastructure developer and lender Infrastructure Leasing & Financial Services (IL&FS) is looking to appoint an auditor that will look into audited books of the group and its subsidiaries, said people with direct knowledge of the matter.
Role of EY, Deloitte and KPMG that ...
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Auditing |
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SC issues contempt notices to RBI for denying info under RTI on loan defaulters
Posted Date : 27-Jan-2019 , 08:27:38 pm | Posted By CASANSAAR
The Supreme Court on Friday issued contempt notices to the RBI for failing to reveal under the Right to Information Act intelligence received on loan defaulters and details of action taken against banks in connection with fraud.
In December 2015, a bench of the top court — comprising ...
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RBI |
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Tax officials may examine high usage of ITC to set off GST liability
Posted Date : 27-Jan-2019 , 08:18:00 pm | Posted By CASANSAAR
Concerned over a decline in GST revenues, tax officials are likely to examine the high usage of input tax credit (ITC) to set off tax liability by businesses, sources said.
The issue of high ITC was flagged at the meeting of the Group of Ministers (GoM) which was set up by the GST Council to look...
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GST |
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Happy Republic Day
Posted Date : 26-Jan-2019 , 09:08:17 am | Posted By CASANSAAR
Our Best Wishes to You
On the Republic Day
Let Us Salute the Prosperity of India
and Every Freedom Fighter
Who Made It Possible
Let Us Hail the Glory Of
This Wonderful Country India
and its Freedom Fighters
Who Made it All a Victory for Us.
Happy Republic Day.!!!...
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General |
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Padma Awards 2019 announced
Posted Date : 26-Jan-2019 , 09:04:59 am | Posted By CASANSAAR
Padma Awards - one of the highest civilian Awards of the country, are conferred in three categories, namely, Padma Vibhushan, Padma Bhushan and Padma Shri. The Awards are given in various disciplines/ fields of activities, viz.- art, social work, public affairs, science and engineering, trade and in...
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General |
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Supreme Court upholds Insolvency and Bankruptcy Code in its entirety
Posted Date : 25-Jan-2019 , 03:56:26 pm | Posted By CASANSAAR
The Supreme Court of India upheld the two-year old insolvency code in its entirety, quashing petitions which challenged the law saying it was discriminatory.
The two-judge bench headed by Justice Rohinton Nariman also upheld the ban on promoters’ bids for the defaulting company underg...
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Insolvent Professional |
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UDIN mandatory wef 1st Feb., 2019 for all Certificates - ICAI
Posted Date : 25-Jan-2019 , 11:06:59 am | Posted By CASANSAAR
ANNOUNCEMENT
UDIN mandatory wef 1st Feb., 2019 for all Certificates
It has been noticed that financial documents/ certificates attested by third person misrepresenting themselves as CA Members are misleading the Authorities and Stakeholders. ICAI is also receiving number of complaints ...
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ICAI |
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Revised Procedure for providing inspection/certified copies of evaluated answer-books to the concerned examinees - ICAI
Posted Date : 25-Jan-2019 , 11:05:45 am | Posted By CASANSAAR
An examinee may apply seeking inspection/certified copies of answer books, within 30 days from the date of declaration of respective result(s), with the applicable fee, online at http://icaiexam.icai.org and pay the applicable fee online. There is no provision for submission of such requests with la...
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ICAI |
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IBBI (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2019
Posted Date : 25-Jan-2019 , 11:04:24 am | Posted By CASANSAAR
No. IBBI/2019-20/GN/REG040. -In exercise of the powers conferred by clause (t) of subsection (1) of section 196 read with section 240 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Insolvency and Bankruptcy Board of India hereby makes the following regulations further to amend the Ins...
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Insolvent Professional |
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IBBI amends the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016
Posted Date : 25-Jan-2019 , 11:03:19 am | Posted By CASANSAAR
The Insolvency and Bankruptcy Code, 2016 provides for corporate insolvency resolution process for invitation, receipt, and consideration of resolution plans; and approval of a resolution plan to resolve insolvency of the corporate debtor. It envisages that a resolution plan, once approved, must be i...
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Insolvent Professional |
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0 | Hits : 791
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SEBI provides clarity on norms for depository participants
Posted Date : 24-Jan-2019 , 09:12:46 am | Posted By CASANSAAR
Employees of public financial institutions as well as those without any identifiable ultimate promoters will not be considered as depository participants under Sebi norms, according to a circular.
The markets regulator on Wednesday issued a circular providing clarity on certain provisions o...
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SEBI |
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CBDT directs taxman to withdraw select appeals by month-end
Posted Date : 24-Jan-2019 , 09:09:04 am | Posted By CASANSAAR
The CBDT has directed the taxman to withdraw all appeal cases, pertaining to certain monetary limits and parameters, from various courts by this month-end as part of the government's drive to end frivolous litigations.
CBDT Member (Revenue) Neena Kumar has recently written a letter to a...
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CBDT |
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CA Piyush Goyal given additional charge of finance ministry in Arun Jaitley's absence
Posted Date : 24-Jan-2019 , 08:54:24 am | Posted By CASANSAAR
CA Piyush Goyal is likely to present the interim Budget on February 1 as he was on Wednesday given the additional charge of finance ministry as Arun Jaitley is in the US for medical treatment, sources said.
Jaitley has undergone surgery at a hospital in New York on Tuesday and has been advised at...
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CA |
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Pass percentage of CA Final / Foundation / CPT May / June 18
Posted Date : 24-Jan-2019 , 08:49:55 am | Posted By CASANSAAR
ICAI Press Release Extract
The Institute of Chartered Accountants of India (ICAI) today announced the following results:
Chartered Accountants Final Examination (Old/New Syllabus) held in November, 2018
Foundation Examination held in November, 2018
Common Proficiency Test (CPT) held in ...
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CA Results |
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Cabinet approves creation of the National Bench of the Goods and Services Tax Appellate Tribunal
Posted Date : 23-Jan-2019 , 05:24:33 pm | Posted By CASANSAAR
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved the creation of National Bench of the Goods and Services Tax Appellate Tribunal (GSTAT).
The National Bench of the Appellate Tribunal shall be situated at New Delhi. GSTAT shall be presided over by the President and...
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GST |
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CBDT requests non-filers to submit Income Tax Return or Online Response
Posted Date : 23-Jan-2019 , 04:23:27 am | Posted By CASANSAAR
The Non-filers Monitoring System (NMS) aims to identify and monitor persons who enter into high value transactions and have potential tax liabilities but have still not filed their tax returns. Analysis was carried-out to identify non-filers about whom specific information was available in the datab...
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CBDT |
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Good Luck - CA Final, ISA & CPT Exam Results 2018 Likely to be announced today
Posted Date : 23-Jan-2019 , 09:46:29 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) is all set to release the November 2018 examination results for CA Final and CA Foundation today, i.e., Wednesday, January 23, 2019.
The CA Final and CA Foundation November 2018 results would be announced on ICAI official websites - icai.org,...
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CA Results |
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GoM on revenue shortfall to study GST collection on services by states
Posted Date : 23-Jan-2019 , 09:00:30 am | Posted By CASANSAAR
A panel of state finance ministers Tuesday decided to scrutinise the GST collection on services by the states to find out if they are taxing them correctly, Bihar deputy chief minister Sushil Modi said.
The panel has been formed by the GST Council to look into revenue shortfall being faced by the...
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GST |
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ICAI signs MoU with ICPA of Kenya
Posted Date : 23-Jan-2019 , 08:58:03 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) has signed the Memorandum of Understanding (MoU) with the Institute of Certified Public Accountants of Kenya (ICPAK) in Nairobi, Kenya on January 21, 2019. Signing of the MoU between ICAI & ICPAK would facilitate collaborative approach to id...
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ICAI |
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CBDT clarifies regarding issue of Prosecution Notices
Posted Date : 21-Jan-2019 , 11:35:01 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has stated that certain news items that appeared in a section of media regarding enmasse issue of prosecution notices to small companies for TDS default are completely misleading and full of factual inaccuracies. CBDT clarified that Mumbai Income Tax TDS offi...
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CBDT |
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No e-way bill if GST returns not filed for 6 months
Posted Date : 20-Jan-2019 , 11:28:16 pm | Posted By CASANSAAR
Non-filers of GST returns for 6 consecutive months will soon be barred from generating e-way bills for movement of goods.
The Goods and Services Tax Network (GSTN) is developing such IT system that businesses who have not filed returns for two straight return filing cycle, which is 6 months, woul...
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GST |
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Govt weighs introducing Deemed Admission under IBC
Posted Date : 18-Jan-2019 , 08:11:49 am | Posted By CASANSAAR
The government is considering introducing the procedure of “deemed admission” of companies under the Insolvency and Bankruptcy Code (IBC) for faster resolution of debt-laden companies.
In certain cases where the financial creditors have approached the National Company Law Tribunal (NC...
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Insolvent Professional |
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Income Tax return processing time to reduce from 63 days to just 1 day
Posted Date : 17-Jan-2019 , 09:39:04 am | Posted By CASANSAAR
The Union Cabinet on Wednesday approved an integrated income-tax e-filing and centralised processing centre (CPC) portal, which will reduce the return processing time from 63 days to just one day. The new portal is also expected to process the refunds within one day of filing of tax returns, in huge...
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Income Tax |
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Companies can raise $750 mn yearly via external commercial borrowings - RBI
Posted Date : 17-Jan-2019 , 09:37:09 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Wednesday allowed entities that are eligible to receive foreign direct investment (FDI) to raise external commercial borrowings (ECBs), by enabling them to raise funds through automatic route up to $750 million per year.
The ECBs raised would be within the overa...
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RBI |
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Govt eases norms for start-ups seeking exemptions from Angel Tax
Posted Date : 17-Jan-2019 , 09:35:45 am | Posted By CASANSAAR
Facing sustained pressure from start-ups and venture capital funds over the so-called angel tax, the government has relaxed norms for seeking exemptions from the controversial levy. The government, via a notification issued on Wednesday, scrapped the existing mechanism to approve start-ups applying ...
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Income Tax |
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SEBI issues norms for mutual funds investments in derivatives
Posted Date : 17-Jan-2019 , 09:34:19 am | Posted By CASANSAAR
Markets regulator Sebi has decided to allow mutual funds to write call options subject to certain conditions. Generally, call options refer to an agreement that gives a buyer the right to purchase an asset at a specified price within a particular time period.
Currently, mutual fund schemes are pe...
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SEBI |
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