Tata Sons cannot force Cyrus Mistry to sell his shares - NCLAT
Posted Date : 24-Aug-2018 , 04:21:58 pm | Posted By CASANSAAR
In a partial relief to Cyrus Mistry, the National Company Law Appellate Tribunal (NCLAT) on Friday stated that Tata Sons cannot force him to sell his shares. However, the two-judge bench headed by Justice S.J. Mukhopadhyaya, declined Mistry's appeal to stay the conversion of Tata Sons into a pri...
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Corporate Law |
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Arun Jaitley resumes charge of finance and corporate affairs ministries
Posted Date : 24-Aug-2018 , 04:19:55 pm | Posted By CASANSAAR
President Ram Nath Kovind reassigned the portfolios of Finance and Corporate Affairs to Union minister Arun Jaitley on Thursday. A press statement released from the Rashtrapati Bhavan said that the President, "advised by the Prime Minister" and has directed that the portfolios be assigned ...
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MCA |
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MCA seeks clarifications from Jet Airways Auditors on results announcement
Posted Date : 23-Aug-2018 , 08:22:57 am | Posted By CASANSAAR
The Ministry of Corporate Affairs is seeking clarifications from the auditors of Jet Airways on the airline deferring announcement of its June quarter results, sources said.
The board of crisis-hit Jet Airways -- which is working on ways to reduce costs amid financial woes -- on August 9 de...
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MCA |
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Creditors have recovered over Rs. 50,000 cr. under IBC’
Posted Date : 22-Aug-2018 , 10:51:40 am | Posted By CASANSAAR
M.S. Sahoo, chairperson of Insolvency and Bankruptcy Board of India (IBBI) talks about the success of the IBC process, challenges and the way forward. Edited excerpts:
What’s the status of resolution of cases under the IBC in terms of resolution?
I don’t have the exact figures. I think...
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Insolvent Professional |
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SEBI extends deadline for FPIs to provide list of beneficial owners
Posted Date : 22-Aug-2018 , 09:47:14 am | Posted By CASANSAAR
In a relief to FPIs, markets regulator Sebi today extended the deadline by two months till December for providing a list of beneficial owners, and assured them that issues raised will be looked into by an expert panel.
The regulator, in April, had asked Category II and III foreign portfolio inves...
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SEBI |
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Last date for filing GST returns in Kerala, Mahe and Kodagu extended
Posted Date : 22-Aug-2018 , 04:08:01 am | Posted By CASANSAAR
In view of the disruption caused due to severe floods in Kerala, Mahe (Puducherry) and Kodagu (Karnataka), the Competent Authority has extended the due dates for filing of the following GST returns by taxpayers registered in these areas:
Sl. No.
Return
Class of taxpayers...
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GST |
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Due Date for filing GSTR 3B of July 2018 extended to 24th Aug, 2018
Posted Date : 21-Aug-2018 , 06:08:40 pm | Posted By CASANSAAR
Last date of filing GSTR-3B for the month of July, 2018 has been extended to 24th Aug, 2018. Official Order is expected in sometime. Official Order is expected in sometime
Source - GST Portal
https://www.gst.gov.in
...
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GST |
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CBDT extends income tax return filing deadline to August 31
Posted Date : 21-Aug-2018 , 02:40:00 pm | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has extended the deadline of filing income tax returns from July 31 to August 31. The decision comes days before the deadline and provides relief to individuals who were required to file returns by the month end. In a couple of tweets, The finance ministry sa...
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Income Tax |
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SC ruled that IBC will override Income-Tax rules on claims
Posted Date : 21-Aug-2018 , 01:13:48 pm | Posted By CASANSAAR
The Supreme Court has ruled that the Insolvency and Bankruptcy Code (IBC) will override Income-Tax rules on claims.
“Given Section 238 of the Insolvency and Bankruptcy Code, 2016, it is obvious that the Code will override anything inconsistent contained in any other enactment, including the...
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Insolvent Professional |
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Govt invites comments on Proposed Amendments to Income-tax Rules,1962
Posted Date : 21-Aug-2018 , 12:17:26 pm | Posted By CASANSAAR
Income-tax Rules, 1962 (I.T.Rules) prescribe Form No.13 for filing an application for seeking a certificate under Section 197 and/or under Section 206C (9) of the Income-tax Act, 1961 (the Act), for no deduction of tax or deduction/collection of tax at lower rate.
In order to rationalise ...
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Category :
Income Tax |
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No ATM to be replenished with cash after 9 pm from next year
Posted Date : 21-Aug-2018 , 12:04:57 pm | Posted By CASANSAAR
No ATM will be replenished with cash after 9 PM in cities and 6 PM in rural areas from next year.
In a notification, Home Ministry said the deadline for putting money in the ATMs located in Naxal-hit areas is 4 PM. It said private cash handling agencies must collect money from the banks in ...
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Banking |
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GST Council may propose inclusion of ATF under GST
Posted Date : 20-Aug-2018 , 09:32:13 pm | Posted By CASANSAAR
Giving in to demand from the airlines, the GST Council may propose to bring Aviation Turbine Fuel (ATF) under the indirect tax regime in its next meeting.
The aviation ministry has been pitching for inclusion of ATF in the goods and services tax regime, stating that the move will help cut the cos...
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GST |
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0 | Hits : 1055
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RBI staff to go on mass leave on Sept 4, 5 over pension issues
Posted Date : 20-Aug-2018 , 09:06:38 pm | Posted By CASANSAAR
The United Forum of Reserve Bank Officers and Employees today said its members will go on mass casual leave on September 4 and 5, pressing their long-pending demands over pension related issues.
According to a press release, United Forum today held a silent demonstration near the RBI office here ...
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RBI |
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Income tax deptt eyes over Rs 100 Bn from Struck off Companies
Posted Date : 18-Aug-2018 , 08:33:28 am | Posted By CASANSAAR
The income-tax (I-T) department is estimating tax recovery of over Rs 100 billion from companies that have been struck off from records of the Registrar of Companies (RoC) last year.
The tax department is in the process of filing a petition before the National Company Law Tribunal (NCLT) for rest...
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Category :
Income Tax |
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0 | Hits : 2177
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Reporting of GST, GAAR details in tax audit report deferred till Mar 2019
Posted Date : 18-Aug-2018 , 08:21:42 am | Posted By CASANSAAR
India’s direct taxes body has deferred till March 31, 2019, the proposed Goods and Services Tax (GST)and General Anti Avoidance Reporting under the amended tax audit form. The Central Board of Direct Taxes has issued a circular to this effect following representations from the industry.
...
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Tax Audit |
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Income Tax collection at record Rs 10.03 lakh Cr in 2017-18 - CBDT
Posted Date : 18-Aug-2018 , 08:18:03 am | Posted By CASANSAAR
Income Tax collection in the country stood at a record Rs 10.03 lakh crore during 2017-18, the Central Board of Direct Taxes (CBDT) on Friday said.
Addressing a two-day conference of Income Tax administrators of Eastern Zone here, Shabri Bhattasali, member of CBDT said that during 2017-18, a reco...
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Income Tax |
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SEBI cuts listing time for public issue of debt securities
Posted Date : 17-Aug-2018 , 09:16:14 am | Posted By CASANSAAR
Markets regulator Sebi today drastically cut the timeline for listing of debt securities to six days from 12 days at present, in order to make the existing process of issuance of such securities simpler and cost effective.
Besides, the Securities and Exchange Board of India (Sebi) has made ASBA (...
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SEBI |
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18% GST on salary paid for services by a firm to its branch offices in other states
Posted Date : 17-Aug-2018 , 09:13:02 am | Posted By CASANSAAR
Salary for services like accounting, IT, human resource, provided by the head office of a company to its branch offices in other states will attract 18 per cent GST.
According to an order passed by the Karnataka bench of the Authority for Advance Ruling (AAR), the activities between two off...
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GST |
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Lenders can sell assets of personal guarantors under IBC - SC
Posted Date : 16-Aug-2018 , 08:55:53 am | Posted By CASANSAAR
The Supreme Court on Tuesday ruled that banks can sell off assets of personal guarantors even when corporate resolution proceedings are on against the corporate debtor under the Insolvency and Bankruptcy Code.
Setting aside the order of the NCLAT that held that the personal guarantors, who are ge...
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Insolvent Professional |
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RBI puts 200 stressed accounts under scanner
Posted Date : 16-Aug-2018 , 08:49:33 am | Posted By CASANSAAR
As part of its effort to contain rising non-performing assets (NPAs), the RBI has started scrutiny of 200 large accounts to assess level of stress and provisioning done against them by respective banks.
Reserve Bank of India (RBI) is examining as to whether banks have followed prudential norms in...
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RBI |
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SC upholds HC decision on Form C availability after GST
Posted Date : 16-Aug-2018 , 08:45:56 am | Posted By CASANSAAR
The Supreme Court has upheld the decision of the Punjab and Haryana High Court that Form – ‘C’ should be made available to an assessee even after implementation of the goods and services tax (GST).
A Bench led by justice Ranjan Gogoi, while dismissing a Haryana government’...
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GST |
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ICAI Election 2018 - Draft List of Voters as on 1.4.2018
Posted Date : 16-Aug-2018 , 08:26:15 am | Posted By CASANSAAR
ELECTION 2018
14th August, 2018
ANNOUNCEMENT
For Attention of the Prospective Candidates and Members at large
Sub: Election 2018 - Draft List of Voters as on 1.4.2018 - Views/Suggestions on proposed Polling Booths
I. Members may be aware that the next elections to the Council a...
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ICAI Election |
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Wishing You a Very Happy Independence Day
Posted Date : 15-Aug-2018 , 09:52:52 am | Posted By CASANSAAR
Freedom Of Speech;
Independence To Grow;
Equality Of Everybody;
Liberty Of Mind And Thought;
And Tolerance Towards Others.
Let's Thanks All The Great Souls
Who Made This India Possible For Us.
Happy Independence Day!!!
&...
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General |
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Govt notifies due date for filing GST returns from July 2018 - March 2019
Posted Date : 13-Aug-2018 , 12:11:47 pm | Posted By CASANSAAR
New Delhi: The government has modified the due date for filing of final Goods and Service Tax (GST) sales returns by businesses with turnover exceeding ₹1.5 crore to the 11th day of the succeeding month.
Currently, such businesses are required to file GSTR-1 or final sales return of a par...
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GST |
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0 | Hits : 3537
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RBI net sells USD 6.184 bn of US currency in June
Posted Date : 13-Aug-2018 , 11:51:15 am | Posted By CASANSAAR
According to data released by Reserve Bank, the apex bank continued to remain net seller of the US currency for the third consecutive month in June this year, after it sold USD 6.184 billion of the US dollar in the spot market.
In this month, RBI bought USD 4.020 billion of the US dollar, while s...
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RBI |
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Cabinet approves signing of MoU with India-Canada CA Institutions
Posted Date : 10-Aug-2018 , 07:43:01 am | Posted By CASANSAAR
The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the signing of the "Memorandum of Understanding (MoU)" between "Institute of Chartered Accountants of India (ICAI)" and "Chartered Professional Accountants of Canada (CPA Canada)".
...
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CA |
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CBDT to scrutinise 0.35% Income Tax returns filed last year
Posted Date : 10-Aug-2018 , 02:06:12 am | Posted By CASANSAAR
Central Board of Direct Taxes Chairman Sushil Chandra said the income tax department picked only 0.35 per cent tax evasion cases for scrutiny of the 68.6-million returns filed for the 2018-19 assessment year.
He said the department had faith in the taxpayers, but would not allow evaders to go sco...
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CBDT |
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SEBI panel recommends seeking powers to tap phone calls
Posted Date : 10-Aug-2018 , 07:32:38 am | Posted By CASANSAAR
Suggesting sweeping reforms, a high-level committee on Thursday recommended market watchdog Securities and Exchange Board of India (Sebi) to seek powers to intercept phone calls to aid investigations and also grant immunity to whistleblowers blowing the lid off frauds and other violations.
The co...
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SEBI |
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SC asks NCLT to deal with insolvency proceedings against Jaypee group
Posted Date : 10-Aug-2018 , 07:28:17 am | Posted By CASANSAAR
In a setback to the Jaypee group, the Supreme Court on Thurssday, August 9, 2018, asked the National Company Law Tribunal (NCLT), Allahabad, to deal with the insolvency proceedings against Jaypee Infratech Ltd (JIL) and barred the group or its promoters from participating in the fresh bidding proces...
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Insolvent Professional |
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0 | Hits : 1390
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Lok Sabha clears amendments to CGST, IGST, GST compensation bills
Posted Date : 10-Aug-2018 , 07:20:32 am | Posted By CASANSAAR
The Lok Sabha has passed the Central Goods and Services Tax (Amendment) Bill, Integrated Goods and Services Tax (Amendment) Bill, Union Territory Goods and Services Tax (Amendment) Bill and the Good and Services Tax (Compensation to States) Amendment Bill.
The four Bills seek to amend the G...
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GST |
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