Don't worry about NAFRA - Corporate Affairs Minister
Posted Date : 07-Feb-2018 , 08:45:54 am | Posted By CASANSAAR
Union minister P P Chaudhary assured ICAI that they need not worry about the proposed National Financial Reporting Authority (NAFRA) but emphasised that there is a need to strengthen the existing system.
The Companies Act, 2013 provides for setting up of the NAFRA, which would look into accountin...
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ICAI |
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40 corporate insolvency resolutions completed - Govt
Posted Date : 07-Feb-2018 , 08:41:52 am | Posted By CASANSAAR
As many as 40 corporate insolvency resolutions, under the Insolvency and Bankruptcy Code, have been completed, Union Minister P P Chaudhary said today.
The Code, which provides for market--determined and time-- bound resolution process, is being implemented by the Insolvency and Bankruptcy ...
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Insolvent Professional |
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Income Tax dept issues notices to crypto currency investors - CBDT
Posted Date : 06-Feb-2018 , 08:59:39 pm | Posted By CASANSAAR
The income tax department is issuing notices to people who invested in crypto currencies like bitcoin but did not declare income or ‘profits earned’ from them, Central Board of Direct Taxes (CBDT) chairman Sushil Chandra said on Tuesday.
The department has found that there is no clari...
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Income Tax |
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5,572 investors’ awareness programmes conducted in 2017-18 till Dec 2017
Posted Date : 07-Feb-2018 , 08:21:32 am | Posted By CASANSAAR
Investors Awareness Programmes (IAPs) have been organised by Investor Education and Protection Fund (IEPF) in association with Institute of Chartered Accountants of India (ICAI), Institute of Company Secretaries of India (ICSI), Institute of Cost Accountants of India (ICoAI) and CSC e-gove...
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Companies Act |
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0 | Hits : 807
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Bloodbath In Stock Markets, Sensex tanks over 1,200 Points
Posted Date : 06-Feb-2018 , 10:29:09 am | Posted By CASANSAAR
India’s benchmark Sensex index slumped nearly 1250.38 points to 33,506.78 points, while Nifty declined 350 points to 10,343 tracking global selloff amid strong US jobs data.
Both Nifty and Sensex fell nearly 3.5%, their biggest fall since August 2015. Overnight, Dow Jones fell over 1,...
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Shares & Stock |
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ICAI concerned over individuals falsely claiming to be CAs
Posted Date : 06-Feb-2018 , 09:49:34 am | Posted By CASANSAAR
ICAI said there are fraudulent cases being reported wherein individuals are falsely claiming to be chartered accountants.
The Institute of Chartered Accountants of India's (ICAI's) statement comes against the backdrop of recent reports that the Income Tax Department had busted a racket wh...
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ICAI |
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RBI's Monetary Policy Committee (MPC) meeting to begin today in Mumbai
Posted Date : 06-Feb-2018 , 09:37:03 am | Posted By CASANSAAR
Reserve Bank of India’s Monetary Policy Committee (MPC) meeting will begin today in Mumbai. The six-member MPC headed by RBI Governor Urijit Patel will meet for the Sixth Bi-monthly Monetary Policy Statement for 2017-18.
RBI may keep policy rates on hold this week. It may toughen its warnin...
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RBI |
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Clarification on ‘Expenditure on Tax administration’ in Union Budget 2018-19
Posted Date : 03-Feb-2018 , 08:58:40 am | Posted By CASANSAAR
In one of the Budget documents of the Union Budget 2018-19,
“Budget at a glance” under the title ‘Expenditure on Government of India’, an expenditure of Rs.77,747 crore and Rs.10,5541 crore has been shown against the item “Tax administration” und...
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Budget |
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Govt introduces Bill to amend the PMLA Act, 2002 through Finance Act, 2018
Posted Date : 02-Feb-2018 , 09:18:32 am | Posted By CASANSAAR
Following amendments have been made in the Prevention of Money-laundering Act, 2002 (PMLA) through Finance Act 2018. The Amendments aim at further enhancing the effectiveness of the Act, widen its scope and take care of certain procedural difficulties faced by the Enforcement Directorate in prosecut...
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Finance Bill |
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LTCG tax may make stock investments less attractive - ICAI
Posted Date : 02-Feb-2018 , 09:11:26 am | Posted By CASANSAAR
The removal of exemption of long term capital gains tax on transfer of shares might make investing in stock markets a less attractive option, according to chartered accountants apex body ICAI.
In the Budget 2018-19, presented in the Parliament, the government has decided to impose a 10 per cent t...
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ICAI |
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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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Category :
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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Category :
Budget |
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0 | Hits : 1881
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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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0 | Hits : 789
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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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0 | Hits : 867
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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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0 | Hits : 923
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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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