FinMin invites fresh applications for RBI Dy Governor post
Posted Date : 02-Feb-2018 , 09:06:54 am | Posted By CASANSAAR
The finance ministry sought application from eligible candidates for the post of RBI Deputy Governor, a position that fell vacant after S S Mundra retired on completion of his three-year term on July 31, 2017.
Although interviews were conducted on July 29 last year, the government has decided to ...
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RBI |
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RBI Act to be amended to provide new liquidity management tool
Posted Date : 02-Feb-2018 , 09:00:59 am | Posted By CASANSAAR
The government will amend the Reserve Bank of India Act to allow the central bank to suck our excess liquidity from the money market without offering any securities as collateral.
This will provide the RBI a new tool in liquidity management particularly in times when the money market liquid...
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RBI |
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E-assessment of a taxpayer to be handled by two officers - CBDT
Posted Date : 02-Feb-2018 , 08:55:17 am | Posted By CASANSAAR
In a departure from the age-old procedure, the Central Board of Direct Taxes (CBDT) has stipulated that the ambitious e-assessment of a taxpayer will henceforth be handled by two officers, instead of the current system involving a single assessing officer (AO).
CBDT Chairman Sushil Chandra ...
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Income Tax |
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Rationalisation of long term capital gains proposed
Posted Date : 02-Feb-2018 , 08:48:31 am | Posted By CASANSAAR
The Union Finance and Corporate Affairs Minister Shri Arun Jaitley today proposed to tax long term capital gains exceeding Rs.1 lakh at the rate of 10% without allowing the benefit of any indexation. Presenting the General Budget 2018-19 in Parliament here today, Shri Jaitley said that all gai...
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Budget |
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Payments exceeding Rs. 10,000/- in cash made by such entities shall be disallowed
Posted Date : 02-Feb-2018 , 08:46:43 am | Posted By CASANSAAR
In order to control the cash economy and increase TDS compliance, the Union Finance and Corporate Affairs Minister Shri Arun Jaitley proposed to impose restriction on entities incurring expenditure in cash without paying tax.
Presenting the General Budget 2018-19 in Parliament here today, t...
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Budget |
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Tax incentives for International Financial Services Centre
Posted Date : 02-Feb-2018 , 08:45:23 am | Posted By CASANSAAR
In order to promote trade in stock exchanges located in International Financial Services Centre (IFSC), the Union Finance and Corporate Affairs Minister Shri Arun Jaitley proposed to provide two more concessions for IFSC. Presenting the General Budget 2018-19 in Parliament here today, Sh...
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International Business |
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Central board of excise and customs [CBEC] to be renamed central board of indirect taxes and customs (CBIC)
Posted Date : 02-Feb-2018 , 08:44:07 am | Posted By CASANSAAR
With the roll out of GST, the Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley while presenting the General Budget 2018-19 in Parliament today, announced that the name of Central Board of Excise and Customs [CBEC] will be changed to Central Board of Indirect Taxes and Customs (CBI...
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GST |
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CBEC extends Trial period for generation of e-way bill; e-way bill Not compulsory for now
Posted Date : 02-Feb-2018 , 08:37:51 am | Posted By CASANSAAR
Official Twitter Handle of GST and CBEC said that In view of difficulties faced by the trade in generating e-way bill due to initial tech glitches, it has been decided to extend the trial phase for generation of e-way bill, both for inter and intra-State movement of goods. It shall be made comp...
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GST |
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No change in the income tax or corporate rates; Relief to salaried taxpayers, pensioners & senior citizens
Posted Date : 01-Feb-2018 , 08:09:07 pm | Posted By CASANSAAR
Mr Jaitley did not propose any change in the Income-tax rates or corporate tax.
However, he announced relief to salaried employees, pensioners, senior citizens, micro, small and medium industries.
He proposed a standard deduction of 40,000 rupees for salaried employees in place of transport al...
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Budget |
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Relief to Senior Citizens - Exemption of Interest Income on deposits increased to Rs 50,000
Posted Date : 01-Feb-2018 , 02:13:19 pm | Posted By CASANSAAR
With the objective of providing a dignified life to senior citizens, the Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley, announced significant incentives for senior citizens.
Presenting the General Budget 2018-19 in Parliament here today, the Finance Minister said that the ex...
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Budget |
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Govt undertakes various Programmes to benefit Farmers, Poor and other vulnerable sections
Posted Date : 01-Feb-2018 , 02:41:49 am | Posted By CASANSAAR
The Union Finance Minister asserted that Shri Narendra Modi, Government had worked sincerely and without weighing political costs. Presenting the General Budget 2018-19 in Parliament here today, the Minister for Finance and Corporate Affairs Shri Arun Jaitely said that the Government had taken up pr...
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Budget |
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E-assessment to be rolled-out across the country to transform age-old assessment procedure
Posted Date : 01-Feb-2018 , 02:08:23 pm | Posted By CASANSAAR
In the General Budget 2018-19 presented in Parliament today, the Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley proposed to amend the Income-tax Act to notify a new scheme for assessment. Shri Jaitley said the assessment will be done in electronic mode which will almost eliminat...
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Budget |
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Education will be treated holistically from pre-nursery to class XII - FM
Posted Date : 01-Feb-2018 , 02:06:33 pm | Posted By CASANSAAR
Expressing concern over the quality of education, Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley has said that education will be treated in a holistic manner from pre-nursery to Class XII. Presenting the General Budget 2018-19 in Parliament here today, the Finance Mi...
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Budget |
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Railway’s Capex for the year 2018-19 Pegged at Rs.1,48,528 Crore
Posted Date : 01-Feb-2018 , 02:04:45 pm | Posted By CASANSAAR
In keeping with the Government’s focus on strengthening the Railways network in the country the General Budget 2018-19 has enhanced the allocation for the Ministry. Presenting the Budget in the Parliament here today, the Union Minister for Finance & Corporate Affairs, Shri ...
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Budget |
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Launch of Gobar-Dhan Scheme announced to improve lives of villagers
Posted Date : 01-Feb-2018 , 02:02:59 pm | Posted By CASANSAAR
In an effort to make the villages open defecation free and improving the lives of villagers, the Finance Minister in his budget speech today announced the launch of Galvanizing Organic Bio-Agro Resources Dhan (GOBAR-DHAN) . The Minister added that this will manage and convert cattle dung...
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Budget |
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Fiscal deficit to be 3.3% of the GDP for the coming fiscal year
Posted Date : 01-Feb-2018 , 02:01:38 pm | Posted By CASANSAAR
Total expenditure during 2018-19 is estimated to be over Rs. 24.42 lakh crore.
Fiscal Deficit at 3.3% is expected to be Rs. 6,24,276 crore, to be financed through borrowings.
The Union Finance Minister Shri Arun Jaitley while presenting the General Budget for 2018-19 in Par...
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Budget |
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MSMEs to gain by Tax Incentives provided in General Budget 2018-19
Posted Date : 01-Feb-2018 , 02:00:34 pm | Posted By CASANSAAR
The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley has proposed a reduced rate of 25% to companies that have reported turnover up to Rs 250 crores in financial year 2016-17. This will benefit the entire class of Micro, Small and Medium Enterprises which accounts for almost 99% o...
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Budget |
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Tax Incentive for Promoting Post-Harvest Activities of Agriculture
Posted Date : 01-Feb-2018 , 01:59:15 pm | Posted By CASANSAAR
In order to encourage professionalism in post-harvest value addition in agriculture, the Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley proposed to allow hundred per cent deduction to companies registered as Farmer Producer Companies and having annual turnover up to Rs.100 crore...
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Budget |
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Benefits Under Section 80-Jjaa of The Income-Tax Act Extended To Footwear And Leather Industry
Posted Date : 01-Feb-2018 , 01:58:05 pm | Posted By CASANSAAR
The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley has proposed to extend the benefits under Section 80-JJAA of the Income-tax Act to footwear and leather industry. While presenting the General Budget 2018-19 in Parliament here today, the Union Finance Minister said, “Curr...
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Budget |
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Union Budget 2018 Highlights
Posted Date : 01-Feb-2018 , 01:02:21 pm | Posted By CASANSAAR
Union Budget Highlights
2018-19
Personal Income Tax rates unchanged; Rs. 40k standard deduction in lieu of present exemption: FM
Senior citizens can claim benefit of reduction Rs. 50,000/ year w.r.t any general health expenditure and health insurance premium: FM
Rs 40,000 standard de...
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Budget |
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Union Budget 2018 - Live Updates
Posted Date : 01-Feb-2018 , 01:26:35 am | Posted By CASANSAAR
FM Arun Jaitley to present Union Budget 2018 today. CASANSAAR are providing you live updates of Union Budget 2018. JUST REFRESH THE PAGE (CLICK F5) FOR ALL LIVE UPDATES.
FM closes his Budget speech and now its time for reactions.
The key takeaways for the market remains the fisc...
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Budget |
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Union Budget 2018 - Watch Live Telecast Online on casansaar.com
Posted Date : 31-Jan-2018 , 09:49:12 pm | Posted By CASANSAAR
Hon'ble Finance Minister's Presentation of Union Budget 2018 in the Parliament on 01st Feb 2018.
...
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Budget |
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Finance Minister to present Union Budget for the next fiscal in Parliament today
Posted Date : 01-Feb-2018 , 09:09:52 am | Posted By CASANSAAR
Finance Minister Arun Jaitley will present the Union Budget for the next fiscal in Parliament today.
He will first present the budget in the Lok Sabha and then in the Rajya Sabha.
Last evening, he examined the final draft of the budget at North Block in the presence of Ministers of...
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Budget |
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Extension of Last Date of Payment of Membership Fees to 15th March, 2018 - ICAI
Posted Date : 01-Feb-2018 , 09:01:13 am | Posted By CASANSAAR
ANNOUNCEMENT
For attention of Members
The Council at its 371st meeting held from 18th to 20th December, 2017 and adjourned to/continued on 18th and 19th January, 2018 noted the difficulties faced by the members in payment of membership fee and certificate of practice fee for the year 2017-18...
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ICAI |
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New e-way bill system comes into force to bring uniformity across the states for smooth inter-state movement of goods
Posted Date : 01-Feb-2018 , 08:58:59 am | Posted By CASANSAAR
A new e-way bill system will come into effect from today. Under the new system, every transporter will have to carry a system-generated bill to move goods from one place to another.
The e-way bill system has been introduced to bring uniformity across the states for seamless inter-state move...
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GST |
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ICAI Clarification regarding Examination Timings
Posted Date : 31-Jan-2018 , 01:36:44 am | Posted By CASANSAAR
IMPORTANT ANNOUNCEMENT
January 30th, 2018 Examination Timings - CA May - 2018 Examinations
An announcement dated 9th January 2018 informing the schedule and timings of the CA Examinations-May 2018 was hosted on www.icai.org
The said announcement had indicated that the C...
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CA Exams |
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State Bank hikes rates on bulk, senior citizen deposits by 50-140 bps
Posted Date : 31-Jan-2018 , 10:55:40 am | Posted By CASANSAAR
National banking bellwether State Bank of India raised interest rates on deposits for the first time in five years as it prepares to raise the lending game after the government strengthened it with capital investment and the trauma of bad loans eased.
SBI follows private sector lender Axis ...
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Banking |
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Revised Formats of Statutory Auditor’s Report for Urban Cooperative Banks - ICAI
Posted Date : 31-Jan-2018 , 09:12:14 am | Posted By CASANSAAR
FOR THE ATTENTION OF THE MEMBERS
Revised Formats of Statutory Auditor’s Report for Urban Cooperative Banks
The Auditing and Assurance Standards Board of ICAI is issuing the following revised formats of the statutory auditor’s report fo...
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ICAI |
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ICAI to carry study on Bitcoin, Cryptocurrencies
Posted Date : 30-Jan-2018 , 08:44:32 am | Posted By CASANSAAR
In the wake of popularity of virtual currencies or cryptocurrency like Bitcoin, the government has sought Institute of Chartered Accountants of India (ICAI)'s opinion on the matter.
"Ministry of Corporate Affairs has sought our opinion on accounting standards and disclosures of cryptocur...
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ICAI |
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GST data reveals 50% increase in number of Indirect Taxpayers
Posted Date : 29-Jan-2018 , 02:20:33 pm | Posted By CASANSAAR
A preliminary analysis of the Goods and Services Tax (GST) data reveals that there has been a 50% increase in the number of indirect taxpayers, besides a large increase in voluntary registrations, especially by small enterprises that buy from large enterprises and want to avail themselves ...
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GST |
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