RBI mandates unique code for all large corporate borrowers
Posted Date : 02-Nov-2017 , 09:29:45 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) said corporate borrowers having exposure of Rs 5 crore and above will have to mandatorily obtain 20-digit Legal Entity Identifier (LEI) from banks, a move that is aimed at improving risk management.
The idea of LEI, a 20-digit unique code to identify partie...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1540
|
 |
SEBI bans 10 entities for fraudulent trade with fake SMSes
Posted Date : 03-Nov-2017 , 07:52:04 am | Posted By CASANSAAR
Clamping down on fraudulent activities, Sebi has barred 10 entities for sending out fake SMSes in bulk with "questionable recommendations" to pump up trading volumes in the shares of Supreme Tex Mart Ltd.
Promoters, directors and their relatives along with three other entities all...
Continue Reading...
Category :
Shares & Stock |
Comments :
0 | Hits : 920
|
|
CBDT signs 7 more unilateral APAs with taxpayers
Posted Date : 03-Nov-2017 , 07:46:46 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has signed seven more advance pricing agreements (APAs) with Indian taxpayers as it looks to reduce litigation by providing certainty in transfer pricing.
The seven APAs signed over the last month pertain to sectors like FMCG, semi-conductor, information t...
Continue Reading...
Category :
CBDT |
Comments :
0 | Hits : 908
|
|
SC seeks details of 1,581 cases against MPs and MLAs
Posted Date : 01-Nov-2017 , 09:30:39 pm | Posted By CASANSAAR
The Supreme Court today directed the Centre to place before it details regarding 1,581 cases involving MPs and MLAs, as declared by politicians at the time of filing their nominations during the 2014 general elections.
The apex court asked the government to apprise it as to how many of these 1,58...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 713
|
|
GSTN launches offline utility for GSTR-2
Posted Date : 01-Nov-2017 , 09:28:59 pm | Posted By CASANSAAR
GST Network, which developed the technology backbone for new indirect tax regime, today said it has launched an offline tool for filing purchase returns GSTR-2.
The tool would allow taxpayers to export data of GSTR-2 to excel. This will be helpful in comparing this data with purchase register to ...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 872
|
|
CBDT notifies rules in respect of Country-by-Country reporting and furnishing of Master File
Posted Date : 01-Nov-2017 , 09:27:10 pm | Posted By CASANSAAR
In keeping with India’s commitment to implement the recommendations of 2015 Final Report on Action 13, titled “Transfer Pricing Documentation and Country-by-Country Reporting”, identified under the OECD Base Erosion and Profit Shifting (BEPS) Project, section 286 of the I...
Continue Reading...
Category :
CBDT |
Comments :
0 | Hits : 832
|
|
Madras HC allows petitioner to file I-T returns without quoting Aadhaar number
Posted Date : 01-Nov-2017 , 09:26:03 am | Posted By CASANSAAR
The Madras High Court on Tuesday allowed a petitioner to file her income tax returns manually, without quoting the Aadhaar number or the enrolment ID.
Petitioner Preeti Mohan relied on a June 9 Supreme Court judgement, which said Aadhaar cannot be mandatory for filing I-T returns.
&ldquo...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1419
|
|
CBDT extends Tax Audit and ITR due date till Nov. 7
Posted Date : 31-Oct-2017 , 10:50:05 pm | Posted By CASANSAAR
On consideration of representations from various stakeholders for further extension of ‘due date’, being 30th September 2017 for those liable to file returns by 30.09.2017 and to facilitate ease of compliance by the taxpayers, CBDT has further extended the ‘due-date’ for fili...
Continue Reading...
Category :
Tax Audit |
Comments :
0 | Hits : 1311
|
|
Government sets up Arun Jaitley led panel on PSU bank mergers
Posted Date : 31-Oct-2017 , 08:47:44 am | Posted By CASANSAAR
The government has constituted a ministerial panel headed by Finance Minister Arun Jaitley to oversee merger proposals of state-owned banks.
The other members of the panel include Railway and Coal Minister Piyush Goyal and Defence Minister Nirmala Sitharaman.
In a tweet, Financial ...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 1093
|
|
Govt extends last date of filing of GSTR-3 for July, 2017 to 11th Dec, 2017
Posted Date : 30-Oct-2017 , 04:35:14 pm | Posted By CASANSAAR
The last date for filing of GSTR-2 for the month of July, 2017 is 31st October, 2017. The competent authority has approved the extension of filing of GSTR-2 for July, 2017 to 30th November, 2017, for facilitation of businesses and all taxpayers.
The last date for filing of GSTR-3 for the month of...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1066
|
|
Govt extends last date of filing of GSTR-2 for July, 2017 to 30th Nov, 2017
Posted Date : 30-Oct-2017 , 04:30:14 pm | Posted By CASANSAAR
The last date for filing of GSTR-2 for the month of July, 2017 is 31st October, 2017. The competent authority has approved the extension of filing of GSTR-2 for July, 2017 to 30th November, 2017, for facilitation of businesses and all taxpayers.
The last date for filing of GSTR-3 for the month of...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 993
|
|
Due date for filing GSTR-2 & GSTR-3 for July 2017 extended to 30th Nov and 11th Dec 2017
Posted Date : 30-Oct-2017 , 03:27:13 pm | Posted By CASANSAAR
To facilitate trade, last date for filing GSTR-2 & GSTR-3 for July 2017 extended to 30th Nov & 11th Dec 2017 respectively.
last date for filing of GSTR-3 for the month of July, 2017 also stands extended to 11th December, 2017 (deadline was 10th November, 2017).
A Notification in ...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1316
|
|
Advise clients to timely approve the tax audit reports under their DSC - ICAI
Posted Date : 28-Oct-2017 , 06:12:08 pm | Posted By CASANSAAR
Members are requested to advise their clients to timely approve the tax audit reports under their digital signatures for the AY 2017-18 uploaded by them on the e-filing portal
The Department of Income-tax (Systems) has informed ICAI that a large number of tax audit reports have been uploaded by t...
Continue Reading...
Category :
Tax Audit |
Comments :
0 | Hits : 2964
|
|
Tax professionals seek more time for e-filing of returns and Tax Audit
Posted Date : 28-Oct-2017 , 08:28:09 am | Posted By CASANSAAR
Tax professionals has sought extension of the time for e-filing of income tax returns for the entities "where tax audit report or transfer pricing report or other audit reports are prescribed" till November 30.
Among other things, it has cited non-availability of clerical staff at...
Continue Reading...
Category :
Tax Audit |
Comments :
0 | Hits : 2555
|
|
Need of independent regulator for Auditors - SEBI Panel
Posted Date : 27-Oct-2017 , 09:48:31 pm | Posted By CASANSAAR
The new norms proposed by the Securities and Exchange Board of India's (Sebi) corporate governance panel for auditors has strengthened the case for the establishment of an independent auditor as mooted by the government.
The Parliamentary Standing Committee on Finance had in 2012 specified th...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 1260
|
|
HC dismisses plea to revoke Mersal's censor certificate for anti GST dialogues
Posted Date : 28-Oct-2017 , 08:10:09 am | Posted By CASANSAAR
Observing that a mature democracy should allow views of the minorities also to be expressed, the Madras High Court on Friday dismissed a public interest litigation petition seeking a direction to Central Board of Film Certification (CBFC) to revoke the censor certificate issued to Vijay starrer Mers...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 925
|
|
Tax professionals protest over GST returns filing in Gujarat
Posted Date : 28-Oct-2017 , 08:08:09 am | Posted By CASANSAAR
Little over a month before Gujarat goes to polls, tax professionals across the state are up in arms against the government over the problems faced by them in filing goods and services tax (GST) returns. As part of their protests, chartered accounts, advocates, tax practitioners and traders on Friday...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1524
|
|
Tax Audit Date Extension - Request for Tweet / Retweet
Posted Date : 27-Oct-2017 , 09:23:29 am | Posted By CASANSAAR
The Govt has time and again extended the various dates for filing of GST returns as it's system was not ready but why is it taking so much time to do so in case of Tax Audit Reports and Returns.
Do they think that we professionals are magicians. We are unable to cope up with all these l...
Continue Reading...
Category :
Tax Audit |
Comments :
0 | Hits : 6682
|
|
Deadline to claim GST transition credit extended till Nov 30
Posted Date : 27-Oct-2017 , 08:02:57 am | Posted By CASANSAAR
The Government on Thursday extended the deadline by a month till November 30 for businesses to claim credit of transitional stock in the Goods and Services Tax (GST) regime. “Form GST TRAN-1 (with revision facility) extended to November 30, 2017,” said a tweet by GST@GOI, the official tw...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 915
|
|
Govt tightens screws on assets owned by deregistered companies
Posted Date : 27-Oct-2017 , 07:54:09 am | Posted By CASANSAAR
The corporate affairs ministry asked states to complete identification of properties owned by deregistered companies at the earliest and ensure district administrations prevent transactions in those assets.
Amid intensifying efforts to fight the black money menace, the ministry has also urged the...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 852
|
|
Govt working on new consumer protection law - PM
Posted Date : 26-Oct-2017 , 08:52:13 pm | Posted By CASANSAAR
Prime Minister Narendra Modi on Thursday said a new consumer protection law is on the anvil to crack down on misleading ads and ensure that grievances are redressed in a time-bound and cost-effective manner.
He said, the Government is committed towards consumer interest protection and is in proce...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 760
|
|
GST TRAN - 1 extended to 30th November 2017
Posted Date : 26-Oct-2017 , 05:07:00 pm | Posted By CASANSAAR
FORM GST TRAN - 1 (with revision facility) extended to 30th November 2017. Suitable order will be issued shortly.
www.casansaar.com...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 2284
|
|
Revision of Return Preparation Utility for Tax Audit, ITRs
Posted Date : 26-Oct-2017 , 02:02:11 pm | Posted By CASANSAAR
CBDT have revised E-filing Income Tax Return Preparation Utilities for filing of all types of Income Tax Return Forms, Tax Audit Report under section 44 AB and also the schema for Tax Audit Reports. It is to be noted that last date for filing the Tax Audit Reports and connected Income Tax Retur...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1309
|
|
GST registration can now cancelled on GSTN portal
Posted Date : 26-Oct-2017 , 09:32:55 am | Posted By CASANSAAR
Businesses which have migrated to the GST regime but wish to cancel their registration can do so now on the GSTN portal.
The utility named ‘Cancellation of Registration of Migrated Taxpayer’ has been launched on Wednesday on the GST Network (GSTN) portal, its CEO Prakash Kumar said on...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1738
|
|
4 million income taxpayers spared from demands for return discrepancies
Posted Date : 26-Oct-2017 , 09:28:20 am | Posted By CASANSAAR
It is now personal income taxpayers’ turn to get relief from the rigours of taxation. About 4 million income taxpayers, who were to get extra tax demands for their FY17 income due to discrepancies in their tax returns, will now be spared. They will also get any tax refunds due for the year ove...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 2463
|
|
CBDT extends due-date for furnishing CbCR for FY 2016-17 to 31st March, 2018
Posted Date : 25-Oct-2017 , 06:13:05 pm | Posted By CASANSAAR
As per Sec 286(2) of the Income-tax Act, 1961 (Act), due date for furnishing Country by Country Report (CbCR) in respect of an international group by its constituent or parent entity is the date specified under section 139(1) of the Act for furnishing tax return for the relevant year.
Since...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 2636
|
|
Tax Audit Date Extension - Request for Tweet / Retweet
Posted Date : 25-Oct-2017 , 05:02:54 am | Posted By CASANSAAR
Last date to file Tax Audit Report u/s 44AB and respective Income Tax Returns of the Income Tax Act 1961 should be extended because of lots of compliances in GST, TDS, ROC, ICDS.
We request every Member to please Tweet / Retweet to PM/FM/PMO/FINMIN at their Twitter Handles.
@PMOIndia @arunjaitle...
Continue Reading...
Category :
Tax Audit |
Comments :
0 | Hits : 8186
|
|
RBI imposes Rs 2 crore penalty on IDFC Bank, Rs 6 crore on Yes Bank
Posted Date : 25-Oct-2017 , 07:44:13 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Tuesday slapped a Rs6 crore penalty on Yes Bank Ltd for breaching its rules on classifying non-performing assets and failing to report a security incident involving its ATMs on time. Separately, RBI also imposed a Rs2 crore penalty on IDFC Bank Ltd for breaching re...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1038
|
|
Cabinet approves bank capitalisation plan of Rs 2.11 lakh crores
Posted Date : 25-Oct-2017 , 07:37:21 am | Posted By CASANSAAR
The Cabinet has approved a capitalisation plan of two lakh eleven thousand crore rupees for public sector banks.
Addressing a press conference in New Delhi this evening, Finance Minister Arun Jaitley said, the huge spending on infrastructure announced today will give a fillip to private sector in...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 860
|
|
GST Revenue Collection Figures stand at Rs.92,150 crore as on 23rd October, 2017
Posted Date : 24-Oct-2017 , 05:34:56 pm | Posted By CASANSAAR
GST Revenue Figures – As on 23rd October, 2017
The total revenue of GST paid under different heads (upto 23rd October, 2017) for the month of September 2017 is Rs. 92,150/- crore. The total CGST revenue is Rs. 14,042 crore, SGST revenue is Rs. 21,172 cror...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 787
|
|
|
