Good Luck - CA Final, ISA & CPT Exam Results 2017 Likely to be announced today
Posted Date : 17-Jan-2018 , 03:33:25 am | Posted By CASANSAAR
The result of the Chartered Accountants Final Examination held in November 2017 and Common Proficiency Test (CPT) held in December 2017 are likely to be declared on Wednesday, the 17th January 2018 around 8.00 P.M. and the same will be available on the following website...
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CA Results |
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Govt to deregister 1.20 lakh more Shell Companies
Posted Date : 17-Jan-2018 , 08:22:49 am | Posted By CASANSAAR
The Government on Tuesday said it has decided to strike off the names of 1.20 lakh more companies from the official records for various non-compliances as part of its continuing crackdown on “shell companies” to tackle the black money menace.
Nearly 2.26 lakh companies have already be...
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Companies Act |
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GST e-way Bill System rolled out on trial basis
Posted Date : 17-Jan-2018 , 08:16:47 am | Posted By CASANSAAR
The Finance Ministry has rolled out the nationwide e-way Bill System for inter-state movement of goods on trial basis from Tuesday.
The GST provision requiring transporters to carry an electronic waybill will be implemented from February 1 for inter-state movements.
The e-way bill system elimi...
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GST |
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FinMin clears the air on situations where US tax identity number not available
Posted Date : 16-Jan-2018 , 08:39:17 am | Posted By CASANSAAR
The Finance Ministry has made life easier for the Indian Reporting Financial Institutions (RFI) to comply with the Inter-governmental Agreement (IGA) under FATCA in situations where US Tax Identity Number (TIN) is not available for pre-existing accounts (as of June 30, 2014).
It has now advised...
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International Business |
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UIDAI permits face recognition for Aadhaar authentication
Posted Date : 16-Jan-2018 , 08:33:03 am | Posted By CASANSAAR
Aadhaar will include face recognition alongside iris or fingerprint scan as a means of verifying users, helping those who face issues in biometric authentication or have worn-out fingerprints, the authority in charge of the national identity card system said today.
The face authentication will be...
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General |
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GST could see major changes before Budget
Posted Date : 15-Jan-2018 , 08:16:35 am | Posted By CASANSAAR
The Goods and Services Tax (GST) Council has lined up a slew of relief measures, including simplifying procedures for returns filing and relaxation of tax on agriculture implements, at its upcoming meeting on Thursday, according to sources.
On the agenda are rationalisation of GST on agricultural...
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GST |
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Govt plans review of functioning of independent directors
Posted Date : 14-Jan-2018 , 04:31:28 pm | Posted By CASANSAAR
The government plans to carry out a comprehensive review of the functioning of independent directors, including analysing the reasons for their exit from the boards of companies, as part of efforts to strengthen the corporate governance framework.
The corporate affairs ministry, which is implemen...
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Companies Act |
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Took action on members in Satyam case - ICAI
Posted Date : 13-Jan-2018 , 08:04:06 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) on Friday said that it has taken action against members in the Satyam case, however, it has "no powers" to take action against CA firms.
ICAI's statement comes days after market regulator Sebi barred Price Waterhouse Network of ...
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ICAI |
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Nation celebrates 155th birth anniversary of Swami Vivekananda
Posted Date : 12-Jan-2018 , 09:31:25 am | Posted By CASANSAAR
Nation is celebrating the 155th birth anniversary of Swami Vivekananda today.
One of the greatest spiritual leaders of India Swami Vivekananda had introduced Indian philosophies of Vedanta and yoga to the western world.
He became popular in the western world after his famous speech...
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General |
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Govt amends FDI policy to promote local Audit firms
Posted Date : 11-Jan-2018 , 09:36:03 pm | Posted By CASANSAAR
The government has quietly slipped in a swadeshi move while liberalising the foreign direct investment (FDI) rules by mandating that overseas auditors will have to undertake joint audit if an international investor insists on audit by a global firm, or its Indian affiliate.
This marks a major shi...
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Auditing |
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Income tax dept attaches benami properties worth Rs 3,500 crore
Posted Date : 12-Jan-2018 , 09:03:23 am | Posted By CASANSAAR
Buying real estate in the names of proxies and depositing demonetized cash in bank accounts of multiple employees were among the ways tax evaders laundered unaccounted wealth after the November 2016 demonetisation of high-value banknotes, the income tax department said on Thursday.
Intensive effo...
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Income Tax |
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Price Waterhouse set to lose Audit of 77 listed companies
Posted Date : 12-Jan-2018 , 08:57:05 am | Posted By CASANSAAR
The hit on Price Waterhouse (PW) has opened up new business opportunities worth over Rs 1 billion for other auditing firms in the country. The Securities and Exchange Board of India (Sebi) had on Wednesday banned PW from auditing listed companies for two years.
Pw was the statutory auditor for 85...
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Auditing |
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Govt is considering to establish Database of Independent Directors
Posted Date : 12-Jan-2018 , 08:49:02 am | Posted By CASANSAAR
The Union Minister of State for Ministry of Law, Justice and Corporate Affairs, Shri P.P. Chaudhary said that Independent Directors are watchpersons of Corporate entities. The MOS (Law, Justice and Corporate Affairs), Shri Chaudhary was delivering the Inaugural Address after inaugurating the two-day...
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Companies Act |
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CA Final Nov 2017 & CPT Exam Result to be Declared on 17th Jan 2018
Posted Date : 11-Jan-2018 , 05:33:18 am | Posted By CASANSAAR
The result of the Chartered Accountants Final Examination held in November 2017 and Common Proficiency Test (CPT) held in December 2017 are likely to be declared on Wednesday, the 17th January 2018 around 2.00 P.M. and the same will be available on the following websites:
&n...
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CA Results |
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Income Tax Dept warns of 7-year jail term and hefty fine in Benami Transactions
Posted Date : 11-Jan-2018 , 09:43:05 am | Posted By CASANSAAR
The Income-Tax Department on Wednesday warned people to “keep away” from benami transactions, cautioning that violations under the newly enacted law invites criminal prosecution and rigorous imprisonment up to seven years.
The department put out its alert in an advertisement published...
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Income Tax |
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Existing NBFC cannot operate as peer-to-peer lender - RBI
Posted Date : 11-Jan-2018 , 08:58:29 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) notified that existing non-banking financial companies cannot operate as peer-to-peer lenders. Further, new applicants for peer-to-peer lending license will need to provide the list of promoters and the source of funds for the minimum capital requirement of Rs20mn, th...
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RBI |
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SEBI bans PwC entities from issuing audit certificates for 2 yrs in Satyam Case
Posted Date : 11-Jan-2018 , 08:50:13 am | Posted By CASANSAAR
The Securities and Exchange Board of India (SEBI) has barred auditor major Price Waterhouse's network entities from issuing audit certificates to any listed company in India for two years after finding it guilty in the multi-crore Satyam scam.
It also ordered disgorgement of over 13 cro...
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SEBI |
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No extension of date for filing return in FORM GSTR-1
Posted Date : 11-Jan-2018 , 08:48:48 am | Posted By CASANSAAR
The last date for filing of return in FORM GSTR-1, for different classes of taxpayers for the relevant periods, as shown in the Table below, remains 10th January, 2018. There has been no further extension of date for filing return in FORM GSTR-1.
Table
Sl. No.
Class of Taxpa...
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GST |
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Financial bids for all 12 large NPA accounts by month-end - SBI
Posted Date : 11-Jan-2018 , 08:44:20 am | Posted By CASANSAAR
Country's largest lender State Bank of India (SBI) expects financial bidding process for resolution of 12 big stressed accounts to be over by the end of this month, said the bank's top official.
SBI is the lead banker in 6 out of 12 large NPAs with total outstanding loan of Rs 1.75 lakh c...
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NPA |
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Cabinet clears 100% FDI in single-brand retail via automatic route
Posted Date : 10-Jan-2018 , 01:51:45 pm | Posted By CASANSAAR
The cabinet today approved 100 percent foreign direct investment (FDI) in single-brand retail through the automatic route, a move seen to trigger foreign inflows into India’s retail market. Previously, the government’s approval was needed for more than 49 percent FDI in single-brand reta...
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Category :
International Business |
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GST Council to discuss various issues on January 11
Posted Date : 10-Jan-2018 , 09:09:15 am | Posted By CASANSAAR
The Goods and Services Tax Council (GST) is scheduled to meet on Thursday (January 11) to deliberate on reasons for the fall in revenue collection, simplification of and other issues.
The tax rate fitment committee may also look into any potential rate changes.
Last time, the council met...
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GST |
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Simplifying invoice matching process on GST Council agenda
Posted Date : 10-Jan-2018 , 09:02:28 am | Posted By CASANSAAR
Simplifying the invoice matching process to check tax evasion and the revenue leakages under the composition scheme will dominate discussions of the goods and services tax (GST) Council in its next meeting.
The representative federal body comprising the Union finance minister and state finance mi...
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GST |
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NCLT approves demerger of Emaar MGF
Posted Date : 10-Jan-2018 , 08:55:26 am | Posted By CASANSAAR
National Company Law Tribunal has approved the proposed demerger scheme of Emaar MGF Land Ltd that will pave the way for joint venture partners Dubai's Emaar Properties and India's MGF Development go separate ways.
Approving the scheme, the tribunal said the "liabilities and duties&q...
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Merger & Acquisitions |
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Govt notifies the Companies (Amendment) Act, 2017
Posted Date : 09-Jan-2018 , 08:58:44 am | Posted By CASANSAAR
The Central Government notified the Companies (Amendment) Act, 2017 (Amendment Act) on 3rd January, 2018. The provisions of this Amendment Act shall come into force on the date or dates as the Central Government may appoint by notification(s) in the Official Gazette. A few provisions in the Amendmen...
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Companies Act |
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MCA asked to conduct forensic audit of IFCI
Posted Date : 07-Jan-2018 , 08:26:17 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs (MCA) has been asked to institute a forensic audit into the operations of IFCI in connection with non-performing loans, Parliament was informed today.
"As part of its ordinary course of business, IFCI Ltd extends loans to corporate borrowers, some of which b...
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Category :
Auditing |
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Companies facing insolvency action to get MAT relaxation
Posted Date : 07-Jan-2018 , 08:23:01 pm | Posted By CASANSAAR
In a bid to provide taxation relief to the companies facing corporate insolvency proceedings, the Income Tax Department has decided to relax norms for levy of Minimum Alternate Tax (MAT) from the current financial year 2017-18. The government will now allow such companies to reduce the amount of tot...
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Category :
Insolvent Professional |
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1463 bad loan accounts owe PSU banks Rs 100 crore or more
Posted Date : 07-Jan-2018 , 08:20:37 pm | Posted By CASANSAAR
As many as 1,463 entities account for bad loans of Rs 100 crore or more in 21 public sector banks (PSBs), finance ministry data showed.
In State Bank of India (SBI) alone, 265 accounts had bad loans of more than Rs 100 crore each, totalling Rs 77,538 crore, at the end of the September quart...
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Banking |
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Budget Session of Parliament to begin from 29th Jan; General budget on 1st Feb
Posted Date : 05-Jan-2018 , 07:30:55 pm | Posted By CASANSAAR
The Budget Session of Parliament will be convened from 29th of this month.
Cabinet Committee on Parliamentary Affairs (CCPA) met in New Delhi and recommend to the President to convene the session.
After the meeting, Parliamentary Affairs Minister Ananth Kumar told reporters in New ...
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Budget |
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RBI begins PCA against Allahabad Bank
Posted Date : 05-Jan-2018 , 01:26:54 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) has initiated prompt corrective action (PCA) against public sector lender Allahabad Bank, owing to its high net non-performing assets (NPAs) and negative return on assets (RoA) for two consecutive years.
While in 2016-17, the bank’s net NPA ratio stood at 8.9...
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RBI |
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Bitcoin Exchanges seeking clarity over levy of GST
Posted Date : 05-Jan-2018 , 01:23:42 pm | Posted By CASANSAAR
Are Bitcoin exchanges required to pay goods and services tax? If they are, what would the rate be? And, will GST be levied on the revenues or operating margins of these exchanges?
India's top seven Bitcoin exchanges, which include Zebpay, Unocoin, CoinSecure and BtcxIndia, plan to appro...
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GST |
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