PNB, other PSBs may get Rs 8,000 crore lifeline
Posted Date : 17-Jul-2018 , 09:05:19 am | Posted By CASANSAAR
The government may infuse about Rs 8,000 crore in five or six state-run banks that are likely to fall short of regulatory capital requirements, a senior finance ministry official said. These banks may include Nirav Modi scam-hit Punjab National Bank.
“There are some banks that have is...
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Banking |
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CBIC to observe Third Refund Fortnight to clear pending GST refunds
Posted Date : 17-Jul-2018 , 08:57:28 am | Posted By CASANSAAR
Refunds of GST have been a concern for the Government and Trade for the past several months. In this regard, the CBIC has observed two special drives cum refund fortnights in the Month of March, 2018 (15th to 31st March, 2018) and June, 2018 (31st May to 16th June, 2018) respectively. These re...
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GST |
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0 | Hits : 1114
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Unsolicited SMSs, WhatsApp and emails being received by members from prospective candidates
Posted Date : 17-Jul-2018 , 08:50:49 am | Posted By CASANSAAR
The election to the Twenty-Fourth Council and Twenty-Third Regional Councils are scheduled to be held in December, 2018.
We have started receiving complaints from members that they are receiving unsolicited SMSs, WhatsApp and emails from prospective candidates/their representatives seeking suppor...
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Category :
ICAI Election |
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0 | Hits : 1028
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Infosys to create new single page GST Return form
Posted Date : 16-Jul-2018 , 08:56:56 am | Posted By CASANSAAR
The GSTN Group of Ministers (GoM) has asked Infosys to create a new tax return filing form in an effort to simplify I-T returns for businesses.
Addressing newspersons at the ninth GSTN GoM meeting, Bihar Deputy Chief Minister Sushil Kumar Modi said taxpayers who file 37 returns a year will file j...
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GST |
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0 | Hits : 1611
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SEBI proposes tighter rules for Auditors, Valuers
Posted Date : 16-Jul-2018 , 08:22:53 am | Posted By CASANSAAR
Securities and Exchange Board of India —capital market regulator — has proposed amendments to tighten laws governing auditors and other third-party individuals hired by listed companies for auditing financial results, among other things.
The Kotak Committee, formed to come up with pro...
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SEBI |
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0 | Hits : 1385
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MCA has constituted a 10-Member Committee to review the offences under the Companies Act, 2013
Posted Date : 15-Jul-2018 , 06:52:49 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs (MCA) has constituted a 10 Member Committee, headed by the Secretary of Ministry of Corporate Affairs, for review of the penal provisions in the Companies Act, 2013 may be setup to examine ‘de-criminalisation’ of certain offences.
The MCA seeks to revie...
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MCA |
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0 | Hits : 1211
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Bhushan Steel appoints T V Narendran as Chairman
Posted Date : 15-Jul-2018 , 06:51:18 pm | Posted By CASANSAAR
Bhushan Steel Ltd, acquired by Tata Steel under corporate resolution process, said today that its board of directors has approved the appointment of T V Narendran as chairman and non-executive additional director of the company.
Narendran, CEO and MD of Tata Steel, has more than 30 years of exper...
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General |
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0 | Hits : 1005
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Income Tax department seeks industry views on taxing overseas online companies
Posted Date : 14-Jul-2018 , 08:17:53 am | Posted By CASANSAAR
Seeking to tax overseas online companies deriving economic value in India, the I-T department today sought industry views on the revenue and user thresholds to determine if they have 'significant economic presence' in the country. Companies like Amazon, Google , Netflix, Facebook, Twitter, p...
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Income Tax |
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0 | Hits : 1283
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No GST on foreign companies' payments to liaison offices for expenses - AAR
Posted Date : 14-Jul-2018 , 08:13:46 am | Posted By CASANSAAR
Foreign companies having liaison offices in India will not have to cough up goods and services(GST) on reimbursements of charges or expenses. A ruling by the Rajasthan Authority for Advance Rulings (AAR) has held that payment of salaries of employees and other working expenses are not services and n...
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GST |
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0 | Hits : 1525
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CA Final and CPT exams result likely to declare next week
Posted Date : 13-Jul-2018 , 08:53:10 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) will declare the CA Final Examination and CA CPT results next week, according to reports. The candidates who have appeared for the examination can check their results on official website icai.org.
According to Times Now News, a notification w...
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Category :
CA Results |
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0 | Hits : 2459
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RBI makes it mandatory to mention buyer's name on demand draft
Posted Date : 13-Jul-2018 , 08:35:07 am | Posted By CASANSAAR
In a series of measures taken by the Reserve Bank of India to make banking instruments safer and stronger, the central bank on Thursday said it has decided to make it mandatory to mention the name of a purchaser on the face of a demand draft (DD) at a bank branch. In the current form, only the name ...
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RBI |
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Stock brokers can’t accept cash from clients - SEBI
Posted Date : 13-Jul-2018 , 08:33:22 am | Posted By CASANSAAR
Investors can no longer deposit cash in their broker’s account to trade in stocks.
On Thursday, the Securities and Exchange Board of India (SEBI) made it mandatory for stock brokers to accept client funds only by way of bank or electronic transfers such as cheques and mobile banking.
&ld...
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SEBI |
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0 | Hits : 1063
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GST Council to discuss ease of filing returns, rate reduction on July 21
Posted Date : 12-Jul-2018 , 10:21:02 pm | Posted By CASANSAAR
The GST Council will discuss ease of filing returns, ease of assessment and may also consider further rationalisation of tax rates in its upcoming meeting on July 21, Finance Minister Piyush Goyal said on Thursday.
He said the Goods and Services Tax (GST) Council had been responsive to industry d...
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GST |
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0 | Hits : 1241
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GST Practitioners required to pass examination before 31.12.2018
Posted Date : 12-Jul-2018 , 10:14:38 pm | Posted By CASANSAAR
National Academy of Customs, Indirect Taxes and Narcotics (NACIN) has been authorized to conduct an examination for confirmation of enrollment of Goods and Service Tax Practitioners (GSTP) in terms of sub-rule (3) of rule 83 of the Central Goods and Service Tax Rules, 2017, vide Notificati...
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Income Tax |
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0 | Hits : 2975
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DIR-3 KYC will be available on MCA21 wef 14th July 2018
Posted Date : 12-Jul-2018 , 10:03:37 pm | Posted By CASANSAAR
DIR-3 KYC will be available on MCA21 Company Forms Download page w.e.f 14th July 2018 for filing purposes. Stakeholders are advised to plan accordingly.
#casansaar (Source - MCA Website)
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MCA |
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0 | Hits : 1002
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IBBI - MSDE announce training programme for new job role of Insolvency Associates
Posted Date : 12-Jul-2018 , 08:30:38 am | Posted By CASANSAAR
The Ministry of Skill Development and Entrepreneurship (MSDE) has announced the launch of a training programme for the new job role of ‘Insolvency Associates’, in partnership with Insolvency and Bankruptcy Board of India (IBBI).
The programme will provide the youth an opportunit...
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Category :
Insolvent Professional |
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0 | Hits : 1182
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Election Commission writes to CBDT on affidavits
Posted Date : 12-Jul-2018 , 08:19:10 am | Posted By CASANSAAR
The Election Commission has told the Central Board of Direct Taxes (CBDT) to create a uniform format for reporting discrepancies between the assets and liabilities shown by candidates in their affidavits and those declared to the Income-Tax Department.
It plans to make the findings public. ...
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CBDT |
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0 | Hits : 978
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Lenders may be allowed to change NCLT bench
Posted Date : 12-Jul-2018 , 08:05:41 am | Posted By CASANSAAR
Lenders may be allowed to change National Company Law Tribunal benches if they face prolonged delays in insolvency resolution cases, according to a proposal being worked out by the ministry of corporate affairs. About 90% of the cases referred to the tribunal under Insolvency and Bankruptcy Code are...
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Insolvent Professional |
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0 | Hits : 861
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Govt approves Idea Cellular and Vodafone India merger
Posted Date : 12-Jul-2018 , 07:48:17 am | Posted By CASANSAAR
Telecom Minister Manoj Sinha today said that the Government has approved the Idea Cellular and Vodafone India merger but the companies need to complete some formalities for the final closure of the deal.
The combined operations of Idea and Vodafone will create the country's largest telecom op...
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Merger & Acquisitions |
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0 | Hits : 857
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Govt increase the monetary limits for filing Appeals at various levels
Posted Date : 11-Jul-2018 , 04:14:28 pm | Posted By CASANSAAR
In order to reduce the long pending grievances of taxpayers and to minimise litigations pertaining to tax matters and to facilitate the Ease of Doing Business, Government of India has decided to increase the threshold monetary limits for filing Departmental Appeals at various levels, be it Appellate...
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Income Tax |
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0 | Hits : 957
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Govt plans Audit of CSR projects
Posted Date : 11-Jul-2018 , 08:13:22 am | Posted By CASANSAAR
The government has decided to overhaul the Corporate Social Responsibility (CSR) framework, and conduct audit of the welfare projects implemented by corporates under their CSR programme.
"A high level committee will be set up to suggest ways to improve CSR ecosystem as well as compliance of ...
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Category :
Auditing |
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0 | Hits : 1174
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RBI likely to extend deadline for filing of single master form
Posted Date : 11-Jul-2018 , 08:11:54 am | Posted By CASANSAAR
Faced with a technical snag, the Reserve Bank of India is likely to extend the deadline for filing of a single master form—that seeks to consolidate all foreign investment received by Indian firms.
Many firms have been unable to file the master form, the deadline for which is 12 July, with ...
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RBI |
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0 | Hits : 997
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Bank of Baroda invites applications for post of CFO
Posted Date : 11-Jul-2018 , 08:10:13 am | Posted By CASANSAAR
Bank of Baroda (BoB), the country’s third-largest public-sector bank (PSB) by assets, on Tuesday sought applications for the post of chief financial officer (CFO). The last date for sending in applications is July 31. The appointment will be for a period of three years with yearly performance ...
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Banking |
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0 | Hits : 1128
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Bankruptcy law is the push Indian companies needed to pay up
Posted Date : 11-Jul-2018 , 08:00:57 am | Posted By CASANSAAR
India’s new bankruptcy law has instilled fear among delinquent borrowers and prompted several reluctant founders to repay outstanding debt due to the risk of losing their company, according to its insolvency regulator.
“There is a perceptible difference in the behaviour of borrowers a...
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Category :
Insolvent Professional |
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0 | Hits : 895
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GST Council unveils draft of changes proposed to GST law
Posted Date : 11-Jul-2018 , 07:57:08 am | Posted By CASANSAAR
India has proposed a slew of changes to the year-old goods and services tax law, including an amendment to deny credit in lieu of accumulated balances of education cess, secondary and higher education cess, Krishi Kalyan cess, and additional excise duties levied on textile and textile articles. ...
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Category :
GST |
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0 | Hits : 840
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GST Council next meeting scheduled on July 21
Posted Date : 10-Jul-2018 , 07:29:44 am | Posted By CASANSAAR
The next meeting of Goods and Services Tax (GST) Council scheduled on July 21 is likely to endorse 3 per cent cess on sugar. In its last meet on June 4, the Council had constituted a Group of Ministers (GOM) and authorised it to take a final call on the matter.
The new sugar cess will be ov...
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GST |
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0 | Hits : 1379
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NCLT rejects Cyrus Mistry’s plea against Tata Sons
Posted Date : 09-Jul-2018 , 09:39:24 pm | Posted By CASANSAAR
The Mumbai bench of the National Company Law Tribunal (NCLT) on Monday dismissed the petition filed by Cyrus Mistry’s investment firms against Tata Sons, its chairman emeritus Ratan Tata and others. Mumbai NCLT’s division bench—presided by B.S.V. Prakash Kumar and V. Nallasenapathy...
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Category :
Companies Act |
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0 | Hits : 874
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ICAI introduces UDIN for Documents Certified / Attested by CAs
Posted Date : 09-Jul-2018 , 03:19:45 pm | Posted By CASANSAAR
Unique Documents Identification Number (UDIN) is a unique number which is to be generated for every document certified / attested by practicing chartered accountants and will be registered with UDIN portal with effect from 1st July, 2018.
UDIN aims to address the concern of documents / certificat...
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ICAI |
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0 | Hits : 3308
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Set up central agency to evaluate big loan proposals - ICAI
Posted Date : 09-Jul-2018 , 08:22:51 am | Posted By CASANSAAR
Cost accountants' apex body ICAI has suggested constituting a central agency, with cost accountants and experts from other fields, to evaluate applications for large loans before banks give their approval.
The suggestion comes at a time when the country's banking system is grappling with ...
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ICAI |
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0 | Hits : 1132
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Govt, RBI mull database to track non-cash transactions
Posted Date : 09-Jul-2018 , 08:18:57 am | Posted By CASANSAAR
The government and the Reserve Bank of India (RBI) have begun discussions to put in place a 'search engine' or a database of all payment transactions in the country as they step up efforts to track black money and establish a money trail to investigate money laundering cases and operations o...
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RBI |
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0 | Hits : 1076
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