RBI extends rest period for appointment of auditors to 6 years
Posted Date : 28-Jul-2017 , 10:07:36 pm | Posted By CASANSAAR
In order to put an end to private and foreign banks appointing the same set of auditors alternatively after mandatory rest of 2 years, the Reserve Bank of India has extended the mandatory rest period to 6 years, it said in a notification on Thursday.
The earlier rules required an auditor to be ap...
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Auditing |
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Income Tax Dept to share vital data with MCA to nail shell companies
Posted Date : 28-Jul-2017 , 07:53:39 am | Posted By CASANSAAR
The tax authorities will now relay audit reports of corporates and specific information from their I-T returns along with PAN data to the Ministry of Corporate Affairs (MCA), as the government plans to crack down harder on shell companies.
The MCA has already come down heavily on shell companies ...
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Income Tax |
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0 | Hits : 778
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Jeff Bezos overtakes Bill Gates to become World's Richest Man
Posted Date : 28-Jul-2017 , 07:45:29 am | Posted By CASANSAAR
Amazon.com founder and The Washington Post owner Jeffrey P. Bezos on Thursday briefly became the richest person in the world, displacing Microsoft founder Bill Gates.
Bezos' rise to No. 1 followed a surge in Amazon.com shares Thursday ahead of the online retailer's earnings report due out...
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International Business |
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LS clears bill to amend companies law
Posted Date : 27-Jul-2017 , 10:03:50 pm | Posted By CASANSAAR
The Lok Sabha today passed a bill to amend the companies law seeking to strengthen corporate governance standards, initiate strict action against defaulting companies and help improve the ease of doing business in the country.
Piloting the Companies (Amendment) Bill, 2016, Minister of State for C...
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Companies Act |
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Cabinet approves revision of guidelines of Sovereign Gold Bonds Scheme
Posted Date : 26-Jul-2017 , 10:54:04 pm | Posted By CASANSAAR
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given approval for revision of guidelines of Sovereign Gold Bonds (SGB) Scheme with a view to achieve its intended objectives.
Two sets of changes have been made in the scheme:
I. Specific changes have been made...
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RBI |
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CBDT comes out with clarification on MAT for Ind AS companies
Posted Date : 26-Jul-2017 , 08:13:43 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has come up with Frequently Asked Questions (FAQs) clarifying on issues around Minimum Alternate Tax (MAT) provisions for Indian Accounting Standard (Ind AS) compliant companies.
A specific circular with clarifications on this issue has now been issued in ...
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CBDT |
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GSTN portal begins invoice uploading for businesses
Posted Date : 25-Jul-2017 , 08:26:13 am | Posted By CASANSAAR
The GSTN portal has started accepting uploading of sale and purchase invoices of businesses generated post Goods and Services Tax rollout on July 1.
GST Network (GSTN) is the company handling the IT backbone for the new tax regime.
The uploaded invoice data can be saved at the port...
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GST |
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NRIs' overseas bank info needed only for income tax refund
Posted Date : 25-Jul-2017 , 08:23:15 am | Posted By CASANSAAR
It is not mandatory for NRIs to provide details of their overseas bank accounts when they file tax returns and only those who seek refunds need to do so, Sushil Chandra, chairman of the Central Board of Direct Taxes (CBDT), said on Monday, putting to rest all confusion on the issue. The Income tax d...
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Income Tax |
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Income Tax base widens to 6.26 cr in 2016-17 - CBDT
Posted Date : 25-Jul-2017 , 08:19:06 am | Posted By CASANSAAR
Income tax payer base moved up substantially to 6.26 crore at the end of the last fiscal, from nearly 4 crore earlier, CBDT Chairman Sushil Chandra said today.
Clearing the air on disclosure of bank account details of non-resident Indians (NRIs), expats, as well as foreigners with investments in ...
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Income Tax |
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0 | Hits : 783
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FM introduces bill to replace Banking Regulation Ordinance
Posted Date : 24-Jul-2017 , 06:24:14 pm | Posted By CASANSAAR
A bill to authorise the RBI to direct banking companies to resolve the problem of stressed assets was on Monday introduced in the Lok Sabha by Finance Minister Arun Jaitley.
The Banking Regulation (Amendment) Bill, 2017, seeks to amend the Banking Regulation Act, 1949 and replace the Banking Regu...
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Banking |
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Govt plans NFRA to keep check on CAs
Posted Date : 24-Jul-2017 , 08:13:31 am | Posted By CASANSAAR
The government is reviewing plans to put in place the National Financial Reporting Authority (NFRA) as it seeks to rein in the Institute of Chartered Accounts for India (ICAI) for its perceived failure in enforcing discipline.
While Companies Act 2013 had provided for NFRA as a regulatory agency ...
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CA |
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0 | Hits : 1886
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26 Chartered Accountants under ICAI scanner amid crackdown on shell firms
Posted Date : 24-Jul-2017 , 08:09:10 am | Posted By CASANSAAR
At least 26 Chartered Accountants have come under the scanner of the ICAI for allegedly helping shell companies, a senior official said.
The Institute of Chartered Accountants of India (ICAI) is the regulator for accountancy professionals and can initiate disciplinary action against erring member...
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Chartered Accountant |
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ICAI to brainstorm on July 24 after PM’s criticism
Posted Date : 24-Jul-2017 , 08:07:07 am | Posted By CASANSAAR
Taking Prime Minister Narendra Modi’s tough talk in right earnest, ICAI will on Monday discuss the way forward on crucial issues, including improving the disciplinary mechanism and steps needed to create a ‘Big Four’ network out of India.
On July 1, while addressing a gathering ...
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ICAI |
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0 | Hits : 2371
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GST - Mobile vans to educate traders about GST
Posted Date : 24-Jul-2017 , 07:56:49 am | Posted By CASANSAAR
Delhi government will be launching six mobile vans on Monday to tour the city's markets and attempt to help traders with issues related to GST.
The decision to start the vans was announced by deputy chief minister Manish Sisodia about 10 days back after he received feedback that several small...
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GST |
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0 | Hits : 765
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Income Tax department detects Rs 19000 crore black money in ICIJ, HSBC cases
Posted Date : 22-Jul-2017 , 05:19:52 pm | Posted By CASANSAAR
The Income Tax department has detected over Rs 19,000 crore in black money following investigations into global leaks including HSBC account holders in Switzerland, the government said today.
Finance Minister Arun Jaitley said investigations into information, put into public domain by the I...
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Income Tax |
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Government draws up checklists for GST Audits
Posted Date : 21-Jul-2017 , 06:18:26 am | Posted By CASANSAAR
The Centre has created a detailed road map for goods and services tax (GST) audits barely 20 days after the levy’s rollout, listing risks, target industries and even potential auditees for officials examining corporate India’s transition to the new regime.
In the past ...
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GST |
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Cabinet approves Integrated Goods and Services Tax (Amendment) Bill, 2017
Posted Date : 19-Jul-2017 , 10:53:41 pm | Posted By CASANSAAR
The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its ex-post facto approval for the promulgation of the Integrated Goods and Services Tax (Extension to Jammu & Kashmir) Ordinance, 2017 and replacement of the Ordinance by the Integrated Goods and Services Tax (Amendment) B...
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GST |
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Cabinet approves Central Goods and Services Tax (Amendment) Bill, 2017
Posted Date : 19-Jul-2017 , 10:51:45 pm | Posted By CASANSAAR
The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its ex-post facto approval for the promulgation of the Central Goods and Services Tax (Extension to Jammu & Kashmir) Ordinance, 2017 and replacement of the Ordinance by the Central Goods and Services Tax (Amendment) Bill, 2...
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Category :
GST |
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0 | Hits : 989
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GST win-win deal for all - Finance Minister
Posted Date : 19-Jul-2017 , 05:15:25 pm | Posted By CASANSAAR
Finance Minister Arun Jaitley today described the Goods and Services Tax (GST) as a "win- win" deal for all as it will expand the tax net, end "inspector raj" and bring down prices of goods.
Pitching the GST as a measure beneficial for the country at a meeting of the BJP parli...
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GST |
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Pass Percentage & Toppers of CA CPT June 2017 Exam
Posted Date : 18-Jul-2017 , 12:56:03 pm | Posted By CASANSAAR
The result of the Common Proficiency Test held in JUNE 2017 was declared recently.
The details of percentage of candidates passed in the above said
examinations are given below:
...
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CA Results |
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Pass Percentage & Toppers of CA Final May 17 Exams
Posted Date : 18-Jul-2017 , 12:22:13 pm | Posted By CASANSAAR
The Result of Chartered Accountants Final Examination has been declared.
www.casansaar.com
The Details of Percentage of candidates passed in the above said examinations are given below.
No. of Candidates
Passed Candidates
Pass %
...
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CA Results |
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Good Luck - CA Final, ISA & CPT Exams Result expected today at 2 pm
Posted Date : 18-Jul-2017 , 11:08:54 am | Posted By CASANSAAR
The results of Chartered Accountants in India (ICAI) will be declared today on official exam results website icaiexam.icai.org at around 2 pm.
The Institute of Chartered Accountants in India (ICAI) will declare results for CA Final (May 2017) and CPT (June 2017).
The institute will also publis...
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Category :
CA Results |
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0 | Hits : 1286
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Supreme Court to hear out RBI objection to information under RTI
Posted Date : 18-Jul-2017 , 11:02:40 am | Posted By CASANSAAR
The Reserve Bank of India on Monday told the Supreme Court that a host of laws mandate the banking regulator to maintain secrecy on borrowings and borrowers — information that cannot be revealed to all and sundry under RTI, the 2005 transparency law.
This prompted the apex court to sa...
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RBI |
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GST - Increase in the Compensation Cess rate on cigarettes
Posted Date : 18-Jul-2017 , 10:54:16 am | Posted By CASANSAAR
In pursuance of the recommendations of the GST Council in its 14th Meeting held on 18.05.2017 and 19.05.2017, the Compensation Cess rates under Section 8 (2) of the Goods and Services Tax (Compensation to States) Act, 2017, was notified vide notification No.1/2017-Compensation Cess (Rate), date...
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GST |
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0 | Hits : 777
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GST - Growing Stronger Together
Posted Date : 17-Jul-2017 , 04:50:22 pm | Posted By CASANSAAR
Prime Minister Narendra Modi today hoped the "growing stronger together" spirit of GST will bring enthusiasm to Parliament proceedings and that political parties will engage in high standard of debate and provide value addition during the Monsoon session.
Terming the start of the sessio...
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Category :
GST |
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0 | Hits : 860
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Income Tax dept transfers 245 commissioners for non performance
Posted Date : 17-Jul-2017 , 08:17:35 am | Posted By CASANSAAR
In one of the biggest reshuffles of income tax commissioners so far, the Central Board of Direct Taxes (CBDT) has transferred 245 commissioners across the country. While performance was one of the main criteria for transferring officials in key positions and shifting out non-performers from signific...
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Income Tax |
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0 | Hits : 1930
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GST Council meet today to take stock of implementation
Posted Date : 17-Jul-2017 , 08:12:49 am | Posted By CASANSAAR
Two weeks into the new levy, the Goods and Services Tax Council will meet on Monday to review its implementation.
“The 19th meeting of GST Council under the chairmanship of Finance Minister Arun Jaitley will be on Monday,” said the Finance Ministry.
However, this meeting will be he...
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GST |
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0 | Hits : 935
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Jan Dhan deposits surge to Rs 64,564 crore
Posted Date : 17-Jul-2017 , 07:51:26 am | Posted By CASANSAAR
Deposits in Jan Dhan accounts have touched a new high of Rs 64,564 crore, of which over Rs 300 crore came in the first seven months of demonetisation, according to government data.
The Pradhan Mantri Jan-Dhan Yojana (PMJDY), Prime Minister Narendra Modi's pet scheme, aims at bringing hitherto...
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Category :
Banking |
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0 | Hits : 881
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Cost Accountants give undertaking to HC on use of ICAI acronym
Posted Date : 16-Jul-2017 , 08:37:32 pm | Posted By CASANSAAR
The Institute of Cost Accountants of India has given an undertaking to the Madras High Court that it will consider changing its acronym from 'ICAI' to 'ICOAI', and submit the compliance report before it on August 21 after a meeting of the body next month.
When a petition by V Venk...
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ICAI |
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0 | Hits : 1695
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Govt asks businesses to register under GST by July 30
Posted Date : 16-Jul-2017 , 08:22:21 pm | Posted By CASANSAAR
The government on Saturday asked traders to get registered under the Goods and Services Tax (GST) regime by 30 July.
Traders with turnover of below Rs20 lakh or those engaged exclusively in the supply of exempted goods or services need not register under the new tax regime that kicked in from 1 J...
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Category :
GST |
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