RBI eases foreign investment regulations for corporate debt
Posted Date : 23-Sep-2017 , 10:39:59 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Friday changed the rules pertaining to the calculation of the foreign investment limit in so-called masala bonds, potentially opening up space for Indian companies to sell more such securities.
Starting 3 October, masala bonds, or rupee-denominated bonds sold ov...
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RBI |
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Income Tax deptt asks taxpayers to update their information on e-filing portal
Posted Date : 23-Sep-2017 , 10:05:43 am | Posted By CASANSAAR
Please note following changes in your Income Tax Profile. You may be required to update your Mobile Number and Email Address in your Income Tax Profile upon Login:
1. Now you need to provide your own email address + your own mobile number.
2. One Mobile Number & One Email Address can be us...
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Income Tax |
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GSTN ropes in 39 more companies as Suvidha providers
Posted Date : 23-Sep-2017 , 09:54:43 am | Posted By CASANSAAR
The GST Network, the agency in charge of the technological infrastructure for the Goods and Services Tax regime, has selected 39 more companies to become GST Suvidha Providers (GSPs). Companies like Zoho Corporation, Paynear as well as consulting bigwigs PwC and KPMG have made the cut this time. VG ...
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GST |
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Income Tax Deputy Commissioner, 2 others arrested in Rs 3 crore bribery case
Posted Date : 23-Sep-2017 , 09:48:11 am | Posted By CASANSAAR
The Central Bureau of Investigation (CBI) today arrested a Deputy Commissioner of Income Tax, Mumbai and his two accomplices in an alleged bribery of Rs three crore.
The I-T Deputy Commissioner was picked up from the Aaykar Bhawan in Churchgate on Friday evening after arrest of one of his accompl...
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Income Tax |
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Tax Payers advised to confirm identities of Income Tax Search Authorities
Posted Date : 23-Sep-2017 , 09:43:52 am | Posted By CASANSAAR
The Income Tax Department in the Delhi region regularly conducts search/survey/verification exercises in case of suspected tax evaders to uncover concealment of undisclosed income/assets as per the law.
However, instances have been brought to the notice of department wherein, certain unscrupulous...
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Income Tax |
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Clarification about Transition Credit in GST of Rs. 65000 Cr
Posted Date : 23-Sep-2017 , 09:42:01 am | Posted By CASANSAAR
There are lot of speculations in the media about the credit of Rs. 65,000 crore claimed by taxpayers in respect of Central Excise and Service Tax in the pre-GST period. Some people are under the impression that because of Rs. 65,000 crore claimed as transition credit, the income of Governm...
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GST |
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Notification Issued For GST Actionable Claim On Branded Food Products
Posted Date : 23-Sep-2017 , 09:39:54 am | Posted By CASANSAAR
The GST Council, in its 21st meeting held on 9th September, 2017 at Hyderabad has, inter alia, recommended that for 5% GST rate on cereals, pulses and flours etc. put up in unit container and bearing a registered brand name:
a) A brand registered as on 15.05.2017 under the Trademarks Act, 1...
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GST |
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FM asks biz not to wait till last day to file GST returns
Posted Date : 20-Sep-2017 , 10:03:36 pm | Posted By CASANSAAR
With 75 per cent of businesses waiting till the last day to file August GST returns, Finance Minister Arun Jaitley today asked them to avoid last-minute rush for tax filing.
He said the GST Network (GSTN) has the capacity to handle 1 lakh returns per hour, which translates to 24 lakh returns in a...
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GST |
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Notification regarding GST rate for branded cereal, pulses and flour
Posted Date : 20-Sep-2017 , 09:40:12 pm | Posted By CASANSAAR
The GST Council, in its 21st meeting held on 9th September, 2017 at Hyderabad has, interalia, recommended that for 5% GST rate on cereals, pulses and flours etc. put up in unit container and bearing a registered brand name:
a) A brand registered as on 15.05.2017 shall be deemed to be a regi...
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GST |
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0 | Hits : 867
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Tax audit assessees including Companies may face additional tax compliance burden
Posted Date : 20-Sep-2017 , 08:01:29 am | Posted By CASANSAAR
To get a better perspective of the likely reliable flow of tax revenues to the exchequer in a fiscal year, the Central Board of Direct Taxes (CBDT) has decided to usher in a self-reporting mechanism for corporates for their estimated incomes, tax payments and advance tax liability.
The proposed m...
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Income Tax |
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Fast-track GST refund, else Rs 65K cr may be stuck - Exporters
Posted Date : 20-Sep-2017 , 07:54:52 am | Posted By CASANSAAR
Fearing that a staggering Rs 65,000 crore could get stuck in GST refunds, exporters today asked the government to fast-track the refund process and avoid further deterioration in their "liquidity situation".
The Committee on Exports, chaired by Revenue Secretary Hasmukh Adhia, today met...
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GST |
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0 | Hits : 1088
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Voluntary Reporting of Estimated Current Income and Advance Tax Liability
Posted Date : 19-Sep-2017 , 09:31:01 pm | Posted By CASANSAAR
A taxpayer who is liable to discharge part of its tax liability by way of advance tax has to bear additional burden of interest for default of advance tax, in case total advance tax paid for the year falls short of the assessed tax by ten percent or more. This interest is levied as per the provision...
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Income Tax |
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0 | Hits : 789
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CBEC tells field officers to take GST disputes to Supreme Court
Posted Date : 19-Sep-2017 , 09:20:33 am | Posted By CASANSAAR
Central Board of Excise and Customs (CBEC), the indirect tax administration of the union government, on Monday instructed its field officers to prepare to move the Supreme Court on all disputes where levy of goods and service tax (GST) has been questioned or stayed by any high court.
The instruct...
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GST |
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List Of Disqualified Directors U/S 164 (2)(A) - MCA
Posted Date : 19-Sep-2017 , 08:50:51 am | Posted By CASANSAAR
MCA Released the List of Directors Disqualified u/s 164 (2)(A)
Please click on the desired RoC to view the list of Disqualified Directors.
RoC Ahmedabad
RoC Bangalore
RoC Chandigarh
RoC Chennai
RoC Chhattisgarh
RoC Coimbatore
RoC Cuttack
RoC Delhi
RoC Ernakulam
RoC...
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MCA |
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Big 4 accounting firms on IBA's list of forensic auditors
Posted Date : 19-Sep-2017 , 08:47:51 am | Posted By CASANSAAR
he Big 4 auditors -- KPMG, EY, Deloitte and PricewaterhouseCoopers -- figure in the list of entities that have been empanelled by the Indian Banks' Association (IBA) to do forensic audit of frauds in banks.
The number of banking fraud cases involving Rs 1 lakh and above is on the rise, which ...
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Auditing |
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Only 6.9 lakh taxpayers filed GST returns
Posted Date : 19-Sep-2017 , 08:43:54 am | Posted By CASANSAAR
With the deadline for filing Goods and Services Tax (GST) returns for August coming to an end in less than 72 hours, only 6.9 lakh taxpayers have filed their GSTR-3B- a short summary return, at the end of Monday, said sources familiar with the development. The government expects tax returns from abo...
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GST |
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0 | Hits : 1486
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160 companies to get notices on transitional GST credits
Posted Date : 19-Sep-2017 , 08:38:39 am | Posted By CASANSAAR
Several Indian companies, including some large entities, may start receiving notices from Monday on transitional tax credits in the run-up to the introduction of the single producer levy, two people with direct knowledge of the developments told ET.
The notices from the indirect-tax department fo...
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GST |
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0 | Hits : 992
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Check Online ICAI Membership Fees Payment Status
Posted Date : 17-Sep-2017 , 10:15:12 pm | Posted By CASANSAAR
Last Date for payment of Membership fees for the year 2017-18 are 30th September 2017. Following is the link where you can check whether your fees are paid or still pending
http://112.133.194.253/reprintletter/memberp.aspx
Please pay Membership and COP fee before 30th September, ...
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ICAI |
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Income Tax department goes after defunct companies for tax frauds
Posted Date : 18-Sep-2017 , 08:22:12 am | Posted By CASANSAAR
The tax office is reopening old records of many companies that have wound up and no longer exist in the books of the government — something the revenue department has rarely done in the past.
Former directors of such closely-held private companies, which have received tax notices alon...
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Income Tax |
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0 | Hits : 1337
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GoM admits to glitches in network delaying GST filings
Posted Date : 17-Sep-2017 , 10:05:12 pm | Posted By CASANSAAR
Technical glitches and procedural problems galore on the GST Network have delayed payments and filing of returns under the new Goods and Services Tax (GST) regime, a Group of Ministers (GoM) admitted on Saturday.
"Technical glitches, procedural problems and absence of some forms on the...
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GST |
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GST Composition Scheme registration open till Sept. 30
Posted Date : 17-Sep-2017 , 11:33:34 am | Posted By CASANSAAR
The GST Network said it has reopened the facility for small taxpayers with turnover of upto 75 lakh rupees to opt for composition scheme. Such small taxpayers will have time till September 30 to opt for the scheme, which offers easy compliance for business as returns are to be filed only quarterly.
...
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GST |
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0 | Hits : 913
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GST transitional claims of over Rs 1 crore to be scrutinised
Posted Date : 16-Sep-2017 , 09:35:33 am | Posted By CASANSAAR
As much as Rs 65,000 crore out of the nearly Rs 95,000 crore tax collections in July — the first month of GST — have been claimed as transitional credit by taxpayers, prompting the apex indirect taxes body the Central Board of Excise and Customs to order a scrutiny of all cases above Rs ...
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GST |
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GoM set up to look into technical issues of GST Network to hold its first meeting in Bengaluru today
Posted Date : 16-Sep-2017 , 09:32:07 am | Posted By CASANSAAR
The group of ministers set up to look into the technical issues faced by GST Network, headed by Bihar Deputy Chief Minister Sushil Kumar Modi, will hold its first meeting in Bengaluru today.
The GST Council, the highest decision-making body of the new Goods and Services Tax regime, had on S...
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GST |
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0 | Hits : 921
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Tax officials may go for searches, surveys to widen base under GST
Posted Date : 15-Sep-2017 , 07:33:59 am | Posted By CASANSAAR
In its attempt to bring more companies under the goods and services tax (GST) umbrella, the tax department is planning to conduct searches and surveys across the country, a senior tax official told ET.
The searches could start as early as next week and would focus on checking if any company...
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GST |
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0 | Hits : 1306
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MACS to adopt the Secretarial Standards issued by ICSI as the benchmark.
Posted Date : 14-Sep-2017 , 09:29:23 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs has approved a request of the Malaysian Association of Company Secretaries (MACS) for adoption of the Secretarial Standards issued by the Institute of Company Secretaries of India (ICSI) as the benchmark in the development of Secretarial Standards of MACS.
...
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ICSI |
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0 | Hits : 1084
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MOU between the MCA and CBDT for Automatic and Regular Exchange of Information
Posted Date : 14-Sep-2017 , 09:26:18 pm | Posted By CASANSAAR
Taking forward the initiative launched by the Government of India to curb the menace of shell companies, money laundering and black money in the country and prevent misuse of corporate structure by shell companies for various illegal purposes, the Ministry of Corporate Affairs and Central Board of D...
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CBDT |
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No papers to show CA's link with offence in Money laundering Case says Court
Posted Date : 14-Sep-2017 , 08:37:45 am | Posted By CASANSAAR
A special court earlier this week granted bail to CA Rajesh Aggarwal, arrested in a money-laundering case, on the grounds that there are “no documents on record” to show that he is connected with the commission of offence under Sections 3 and 4 of the Prevention of Money Laundering Act.
...
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CA |
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0 | Hits : 3416
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Auditors come under lens amid crackdown on shell companies
Posted Date : 14-Sep-2017 , 08:30:55 am | Posted By CASANSAAR
A multi-agency clampdown has begun on shell companies to tackle the black money menace wherein the role of auditors has come under the scanner for alleged connivance in facilitating illegal transactions.
The auditors' role is also being looked into for not raising the red flag as several case...
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Auditing |
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0 | Hits : 1389
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Govt issues notice to 1200 NGOs to validate Foreign Bank Accounts
Posted Date : 14-Sep-2017 , 08:02:47 am | Posted By CASANSAAR
The Ministry of Home Affairs has issued notice to over 1,200 NGOs across the country, asking them to validate their bank accounts where they receive foreign funds.
They have been asked to submit expenditure details of the last four or more years on the suspicion of violating foreign funding norms...
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NGO |
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Govt sets up panel to receive profiteering complaints under GST
Posted Date : 14-Sep-2017 , 07:59:23 am | Posted By CASANSAAR
A four-member standing committee, comprising tax officials of the Centre and states, has been set up to receive complaints of undue profiteering by any entity under the new goods and services tax (GST) regime.
The Standing Committee on anti-profiteering will act as a complaint processing machiner...
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GST |
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0 | Hits : 900
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