Over 470 disciplinary cases filed against CAs till July this year
Posted Date : 22-Dec-2017 , 09:04:06 am | Posted By CASANSAAR
The number of disciplinary cases registered against chartered accountants (CA) in the first six months of this year was twice as many as that of the same period in 2016, a reply to a Right to Information (RTI) plea has disclosed.
These cases involve members of the Institute of Chartered Accountan...
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CA |
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Bitcoin exchanges may come under ED scanner
Posted Date : 21-Dec-2017 , 09:19:33 am | Posted By CASANSAAR
The enforcement directorate (ED) plans to scrutinize bitcoin exchanges to check for potential violations of foreign exchange rules by the exchanges and cryptocurrency investors, said two ED officials aware of the matter.
The move follows a survey by the income-tax (I-T) department to determine ho...
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Bitcoins |
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FinMin Release of Income Tax Return Statistics for AY 2015-16
Posted Date : 21-Dec-2017 , 09:12:34 am | Posted By CASANSAAR
In continuation of its efforts to place more and more information in public domain, the Central Board of Direct Taxes(CBDT) has released data relating to distribution of income and tax payable in respect of returns filed for the Assessment Year 2015-16. With this release, detailed income-tax data fo...
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Income Tax |
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0 | Hits : 1045
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SEBI hikes FPI investment limit
Posted Date : 21-Dec-2017 , 09:07:33 am | Posted By CASANSAAR
Capital market regulator, Securities and Exchange Board of India (Sebi), yesterday, raised the investment limit for foreign portfolio investors in central government securities to over 1(point)91 lakh crore from next month.
Currently, investment limit for foreign portfolio investors is 1.89...
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SEBI |
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Faceless and Nameless E-Assessment for Income Tax payers from 2018
Posted Date : 19-Dec-2017 , 08:43:25 pm | Posted By CASANSAAR
The government is set to roll out a pan-India "faceless and nameless" e-assessment procedure for income tax payers from 2018 with the CBDT constituting a high-level committee to prepare a quick roadmap for the implementation of this ambitious proposal.
The Central Board of Di...
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Income Tax |
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Gross NPAs of banks cross Rs 8.50 lakh crore in first half - MOS
Posted Date : 20-Dec-2017 , 08:09:04 am | Posted By CASANSAAR
Gross Non-performing Assets (NPAs) of banks crossed Rs 8.50 lakh crore at the end of September 2017, Minister of State for Finance Shiv Pratap Shukla informed the Lok Sabha.
"Reserve Bank of India (RBI) has informed that the growth in provisions for NPAs of Public Sector Banks (PSBs) i...
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NPA |
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Govt may provide relief for disqualified directors of Shell Companies
Posted Date : 20-Dec-2017 , 08:05:34 am | Posted By CASANSAAR
The ministry of corporate affairs, or MCA, will soon notify a scheme to provide relief to over 300,000 directors disqualified for associating with companies that failed to file their financial results, said two people with knowledge of the matter.
Non-compliant companies can apply for a pardon (o...
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Companies Act |
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Companies (Amendment) Bill, 2017 passed in Parliament
Posted Date : 20-Dec-2017 , 07:53:53 am | Posted By CASANSAAR
Parliament has passed the Companies (Amendment) Bill, 2017 with the Rajya Sabha adopting it today. The Lok Sabha had passed it earlier in the monsoon session. The bill seeks to strengthen corporate governance standards, initiate strict action against defaulting companies and help improve ease of doi...
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Companies Act |
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0 | Hits : 1795
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Over 2,400 fresh cases of insolvency filed before NCLT
Posted Date : 19-Dec-2017 , 08:14:31 am | Posted By CASANSAAR
As many as 2,434 new cases have been filed before the National Company Law Tribunal (NCLT) since the enactment of Insolvency and Bankruptcy Code last year, Parliament was informed today.
"Since the enactment of Insolvency and Bankruptcy Code, 2016, 2,434 fresh cases have been filed bef...
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Insolvent Professional |
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0 | Hits : 1311
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Bitcoins - Income Tax notices to 4-5 lakh HNIs across the country
Posted Date : 19-Dec-2017 , 08:05:55 am | Posted By CASANSAAR
Widening its probe into bitcoin investments and trade, the Income Tax department is set to issue notices to 4 to 5 lakh high networth individuals (HNI) across the country who were trading on the exchanges of this unregulated virtual currency.
The taxman had conducted surveys at nine su...
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Bitcoins |
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Modi Govt set to issue notices to GST defaulters
Posted Date : 18-Dec-2017 , 09:59:44 pm | Posted By CASANSAAR
The Government it seems is in no mood to lower its guard on the tax collection front as it looks to send notices to GST defaulters.
According to a report in Business Standard, the government is set to issue notices who have failed to file returns.
Due to postponement of measures under the GST ...
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GST |
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Bill to amend Payment of Gratuity Act provisions
Posted Date : 18-Dec-2017 , 09:48:01 pm | Posted By CASANSAAR
The government on Monday introduced a bill in the Lok Sabha that will allow it to notify the period of maternity leave and gratuity that can be availed by employees under a central law.
The Payment of Gratuity (Amendment) Bill, 2017 was introduced by Labour Minister Santosh Kumar Gangwar in the H...
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Corporate Law |
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0 | Hits : 955
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GSTN brings in option for monthly, quarterly filing of forms
Posted Date : 18-Dec-2017 , 09:42:14 pm | Posted By CASANSAAR
Goods and Services Tax Network (GSTN), the IT backbone of the new tax regime, today said it has put a new function on its portal to allow taxpayers choose the frequency of filing GSTR 1 form on quarterly or monthly basis.
Taxpayers with annual aggregate turnover up to Rs 1.5 crore in the pr...
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GST |
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0 | Hits : 1114
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Bitcoin-inspired illicit investment schemes to face regulatory axe - SEBI
Posted Date : 18-Dec-2017 , 07:50:35 am | Posted By CASANSAAR
Market watchdog SEBI will come down heavily on illicit 'initial coin offers' seeking public investments with the promise of high returns from Bitcoins and other virtual currencies, amid a mushrooming of such schemes in the absence of any regulatory regime.
However, SEBI is not keen to tak...
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SEBI |
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Builders may face probe by GST anti-profiteering body
Posted Date : 18-Dec-2017 , 07:42:22 am | Posted By CASANSAAR
Real estate developers are likely to be the first to face investigation by the new anti-profiteering watchdog for allegedly denying consumers the benefit of reduced tax burden under the goods and services tax (GST) regime that kicked in from 1 July.
A standing committee of officials attached to t...
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GST |
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GST brings jobs boom for Indian CAs
Posted Date : 18-Dec-2017 , 07:39:28 am | Posted By CASANSAAR
After the implementation of the Goods and Services Tax (GST) in India in July this year, the demand for Chartered Accountants (CAs) well-versed in the new tax regime has been on a global rise, the Institute of Chartered Accountants of India (ICAI) revealed. GST or similar tax regimes are now applica...
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GST |
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ICAI wants CA course to be accorded PG status
Posted Date : 18-Dec-2017 , 07:31:13 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) will approach the University Grants Commission to accord postgraduate degree status for Chartered Accountant (CA) qualification.
ICAI president Nilesh S. Vikamsey said here on Saturday that recognising the CA qualification as a postgraduate d...
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ICAI |
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0 | Hits : 1484
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GSTN plans data scan to detect tax evasion
Posted Date : 18-Dec-2017 , 07:23:56 am | Posted By CASANSAAR
With nearly 10 million taxpayers registering themselves on the goods and services tax (GST) network, or GSTN, the information technology backbone of the new indirect tax regime is initiating the process of mining data to detect tax evasion and analyse taxpayer behaviour.
GSTN will soon float a re...
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GST |
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0 | Hits : 1245
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RBI levies Rs 5 crore penalty on Syndicate Bank for breaching KYC norms
Posted Date : 17-Dec-2017 , 11:04:29 am | Posted By CASANSAAR
Syndicate Bank has emerged as the latest entrant on the Reserve Bank of India's hit list for violation of norms.
The central bank on December 12 imposed a monetary penalty of Rs 5 crore on the public sector lender for violating the Know Your Customer (KYC)/Anti-Money Laundering (AML) norms.
...
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RBI |
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ED freezes assets worth Rs 245 crore in STC fraud case
Posted Date : 17-Dec-2017 , 10:38:36 am | Posted By CASANSAAR
Enforcement Directorate (ED) has frozen assets worth Rs 245 crore in connection with its money laundering probe in the alleged fraud of Rs. 2,200 crore with the State Trading Corporation (STC).
The agency had early this year registered a criminal case under the Prevention of Money Laundering Act ...
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General |
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GST Council Meet :- Inter-State e-way Bill to be made compulsory from 1st of February, 2018.
Posted Date : 16-Dec-2017 , 02:06:11 pm | Posted By CASANSAAR
The 24th Meeting of the GST Council held today through video conference under the Chairmanship of the Union Minister of Finance and Corporate Affairs, Shri Arun Jaitley. It discussed about the implementation of e-way Bill system in the country. Till such time as the National e-way Bill is ready, the...
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GST |
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GST Council to meet tomorrow; discuss roll out of e-way bill
Posted Date : 15-Dec-2017 , 04:49:05 pm | Posted By CASANSAAR
The all-powerful GST Council will meet tomorrow to discuss early implementation of e-way bill as well as ways to plug tax evasion.
Headed by Finance Minister Arun Jaitley, the meeting will be held via video conferencing and deliberate on cementing gaps in the system as well as curbing evasion, so...
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GST |
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0 | Hits : 1044
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SC extends Aadhaar-linking deadline for mobile phones, bank accounts to March 31
Posted Date : 15-Dec-2017 , 02:11:14 pm | Posted By CASANSAAR
The Supreme Court on Friday extended the deadline for linking of Aadhaar with mobile phone services and opening of new bank accounts to March 31, 2018, amid legal challenges over the legitimacy of the government’s push to make the biometric identification program mandatory.
The five-judge c...
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Income Tax |
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0 | Hits : 991
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ED to issue FEMA notices to 46 Indian entities in PANAMA case
Posted Date : 15-Dec-2017 , 09:11:32 am | Posted By CASANSAAR
The Enforcement Directorate (ED) is set to issue fresh notices to more than 45 Indian entities named in the Panama Papers list on charges of possible forex law violations, official sources today said.
The agency, they said, is investigating about 46 "actionable" cases of Indians on this...
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Income Tax |
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0 | Hits : 1022
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Now File NIL GSTR 3B in one click
Posted Date : 15-Dec-2017 , 09:09:14 am | Posted By CASANSAAR
In a bid to make GST filing easier for taxpayers, a new functionality has been introduced on the official portal of GST. This new functionality has been initiated with the filing of GSTR-3B returns first.
The GST network in a statement said, “A new functionality has been introduced on...
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GST |
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0 | Hits : 1411
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35% of businesses registered in GST pay no tax - FM
Posted Date : 15-Dec-2017 , 09:05:29 am | Posted By CASANSAAR
Around 4 lakh people contribute 95% of GST collections, while 35% of those who have filed returns mostly paid no tax, finance minister Arun Jaitley said on Thursday.
He provided these figures emerging from studies in response to a query at industry chamber Ficci’s 90th AGM here on whether t...
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GST |
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0 | Hits : 1206
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GST collections could rise on e-way bills: FM
Posted Date : 15-Dec-2017 , 09:02:00 am | Posted By CASANSAAR
Revenue collections from the Goods and Services Tax could pick up over the coming months as provisions such as e-way bills for transport of goods kick in, Finance and Corporate Affairs Minister Arun Jaitley said on Thursday, stressing that lower direct and indirect tax rates are only possible when g...
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GST |
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0 | Hits : 965
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Govt Panel invites suggestions/comments from stakeholders about the provisions of the IBC and the Rules and Regulations
Posted Date : 15-Dec-2017 , 08:49:15 am | Posted By CASANSAAR
Government Panel invites suggestions/comments from stakeholders about the provisions of the Insolvency and Bankruptcy Code and the Rules and Regulations notified there under
Comments/suggestions along with the brief justification may be sent through the online facility only availa...
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Insolvent Professional |
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0 | Hits : 844
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IBBI issues guidelines for Technical Standards for Core Services
Posted Date : 15-Dec-2017 , 08:47:04 am | Posted By CASANSAAR
Based on recommendations of the Technical Committee, the Insolvency and Bankruptcy Board of India (IBBI) has laid down the Technical Standards for the performance of Core Services for the following matters under Regulation 13 of the IBBI (Information Utilities) Regulations, 2017:...
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Insolvent Professional |
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0 | Hits : 929
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Deadline for linking Aadhaar with bank accounts, PAN extended to March 31
Posted Date : 14-Dec-2017 , 09:48:47 am | Posted By CASANSAAR
The government on Wednesday extended to March 31, 2018 the deadline for linking Aadhaar to bank accounts and various financial services. The move comes as a major relief for banks and other entities in the financial sector as crores of customers are yet to link their accounts to Aadhaar and might ha...
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PAN |
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0 | Hits : 1025
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