Delhi CA student missing for seven days from Jewar
Posted Date : 24-Feb-2017 , 08:55:45 am | Posted By CASANSAAR
A 23-year-old chartered accountancy student went missing on his way from Delhi to Hathras on February 18 and his family members are running from pillar to post to trace him.
Family members suspect that the CA student, Shubham Mysori, has been kidnapped, but ...
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Students Zone |
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SBI set to hire retired officials as concurrent auditors
Posted Date : 24-Feb-2017 , 08:30:25 am | Posted By CASANSAAR
Ahead of merger, State Bank of India (SBI) has called upon retired officers to become concurrent auditors with the bank to oversee compliance and risks under loans and operational activities.
Concurrent audits are real-time examination of transactions to ensure accuracy, bank compliance, a...
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Auditing |
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Government to issue Sovereign Gold Bonds 2016 -17 – Series IV
Posted Date : 24-Feb-2017 , 08:17:09 am | Posted By CASANSAAR
Government of India, in consultation with the Reserve Bank of India(RBI), has decided to issue Sovereign Gold Bonds 2016-17–Series IV. Applications for the bond will be accepted from February 27, 2017 to March 03, 2017. The Bonds will be issued on March 17, 2017. The Bonds will be sold through...
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Finance |
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Five Associate Banks to Merge with SBI from 1st April
Posted Date : 23-Feb-2017 , 10:45:25 pm | Posted By CASANSAAR
In the largest consolidation exercise in the banking history of India, all the five associate banks will merge with State Bank of India, SBI, from the first of April. The bank said in a regulatory filing that the assets of State Bank of Bikaner and Jaipur, State Bank of Mysore, State Bank of Travanc...
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Merger & Acquisitions |
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CBEC launches app to provide updates to taxpayers on GST
Posted Date : 23-Feb-2017 , 10:34:03 pm | Posted By CASANSAAR
In step with the Government’s Digital India initiative, the Central Board of Excise and Customs (CBEC) has launched a mobile application for Goods and Services Tax.
Taxpayers can readily access a host of GST informatio...
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GST |
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India to be fastest growing economy among G-20 nations - Moody's
Posted Date : 23-Feb-2017 , 10:19:27 pm | Posted By CASANSAAR
India will be the fastest growing economy among G-20 countries clocking a 7.1 per cent growth in 2017, Moody's Investors Service said today.
The Indian economy had slowed in the fourth quarter of 2016 due to the withdrawal of 86 per cent of the currency in circulation -- without an immediate ...
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International Business |
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Income Tax dept to go easy on Rs 5 lakh deposits by people above 70 years
Posted Date : 23-Feb-2017 , 08:03:51 am | Posted By CASANSAAR
The Income tax department will not carry out any further verification for cash deposits up to Rs 5 lakh made by people above 70 years of age post note ban, but the limit has been fixed at Rs 2.5 lakh for other individuals. “There is absolutely no cause for panic. We are not going after everyon...
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Income Tax |
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No threat, show cause to be issued under Operation Clean Money - CBDT
Posted Date : 22-Feb-2017 , 08:43:05 am | Posted By CASANSAAR
The CBDT on Tuesday asked the taxman to ensure there is no "threat, warning or show cause" notice to taxpayers contacted by it under 'Operation Clean Money' that is aimed at checking black money post-note ban.
The Central Board of Direct Taxes (CBDT), the policy-making body of t...
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CBDT |
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CA Student goes missing from Noida
Posted Date : 21-Feb-2017 , 07:28:48 am | Posted By CASANSAAR
A 23-year-old chartered accountancy course student has been missing for the past two days, police said.
They said Shubam Maheshwari, who is from Hathras and a final year CA student in Delhi, went missing on Saturday after he left for his hometown from Anand Vihar bus terminal.
Around 9.3...
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CA |
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Government extends deadline for registering on GST portal
Posted Date : 21-Feb-2017 , 07:17:42 am | Posted By CASANSAAR
About1.85 lakh dealers out of the 3.53 lakh registered with the VAT department have enrolled on the GST portal from December 16 till date. The Delhi government is now preparing to bring out an advertisement to announce extension of the deadline for enrolment till March 15. The earlier deadline was D...
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GST |
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Income Tax Dept to Launch 2nd phase of Bank Accounts' scrutiny next month
Posted Date : 21-Feb-2017 , 06:49:44 am | Posted By CASANSAAR
The Income Tax department is likely to launch the second phase of 'Operation Clean Money' next month to close in on unaccounted money making its way into banks but may ignore standalone deposits below Rs. 5 lakh for now. The Income Tax department will appoint two data analytics firms in next...
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Income Tax |
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RBI enhances cash withdrawal limit from Savings account to Rs 50,000
Posted Date : 21-Feb-2017 , 06:45:28 am | Posted By CASANSAAR
Reserve Bank has enhanced the cash withdrawal limit from Savings Bank Account to 50,000 rupees from the existing 24,000 rupees from 20th Feb. RBI has also said that all limits on cash withdrawals from Savings Bank Account will be withdrawn from 13th of next month.
The Reserve Bank of India (RBI) ...
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RBI |
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Children's accounts to come under Income Tax scanner
Posted Date : 20-Feb-2017 , 08:01:15 am | Posted By CASANSAAR
Bank accounts in the name of children and a sudden surge of balance in them in the weeks after November 8 demonetisation will now be scrutinised by income tax authorities.
Swollen zero balance Jan Dhan accounts will also come under scanner as the I-T department is preparing to send emails t...
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Category :
Income Tax |
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0 | Hits : 1277
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GST Council clears compensation Bill
Posted Date : 19-Feb-2017 , 08:24:47 pm | Posted By CASANSAAR
The goods and services tax (GST) Council on Saturday formally approved a Bill for compensating the state governments for any revenue loss they might have to suffer in the first five years in the GST regime, as the constitutionally empowered body entered the last lap of its key legislative business. ...
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GST |
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CA Sunil Mehta appointed non-executive Chairman of PNB
Posted Date : 18-Feb-2017 , 08:36:15 am | Posted By CASANSAAR
Punjab National Bank (PNB) has a new non-executive Chairman in CA.Sunil Mehta.
The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Department of Financial Services (DFS) for the appointment of Mehta as non-executive Chairman of PNB, official sources said.
He has be...
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Banking |
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Income Tax dept to follow-up with over 1 million taxpayers on high-value deposits
Posted Date : 18-Feb-2017 , 08:29:21 am | Posted By CASANSAAR
The income tax (I-T) department will issue follow-up letters to more than 1 million taxpayers who have failed to respond to its missives to explain high-value cash deposits in bank accounts between 9 November and 30 December.
As part of Operation Clean Money, to begin with, the department had sen...
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Income Tax |
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Eight Executive Directors appointed in various Banks
Posted Date : 18-Feb-2017 , 08:26:46 am | Posted By CASANSAAR
Eight Executive Directors (EDs) have been appointed in various public sector banks on the recommendations of Banks Board Bureau.
Neelam Damodharan and Atanu Kumar Das have been appointed as EDs in Bank of India. Damodharan is General Manager in Bank of Baroda and Das is GM in Vijaya Bank.
K Sw...
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Banking |
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GST governing council meets in Udaipur to give approval to GST Draft Law
Posted Date : 18-Feb-2017 , 08:25:26 am | Posted By CASANSAAR
Goods and Services Tax (GST) governing council will meet in Udaipur, Rajasthan today to give approval to GST Draft Law.
Union Finance Minister Arun Jaitley will chair the meeing which will be attended by Finance Ministers of various states. AIR correspondent reports that the main agenda for...
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GST |
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0 | Hits : 903
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Online Income Tax grievance redressal facility launched at 60 offices
Posted Date : 16-Feb-2017 , 08:07:25 am | Posted By CASANSAAR
After launching the ambitious e-nivaran facility for online redressal of taxpayers’ grievances, the Income Tax Department has now opened these windows at its 60 special offices across the country. The facility will soon be launched at 100 more such special tax offices, called Aaykar Sampark Ke...
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Income Tax |
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Cabinet okays merger of SBI, 5 associate banks
Posted Date : 16-Feb-2017 , 08:01:15 am | Posted By CASANSAAR
Seeking to create a global-sized bank, the Cabinet on Wednesday gave the go-ahead to the merger plan of SBI and its five associates, a step aimed at strengthening the banking sector through consolidation of public banks.
However, no decision was taken on the proposal to also merge the Bharatiya M...
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Merger & Acquisitions |
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Income Tax department's mobile app for income tax, PAN soon
Posted Date : 16-Feb-2017 , 08:00:13 am | Posted By CASANSAAR
The Income Tax department is developing an App that will soon allow assesses to pay taxes or apply for PAN using smartphones. The department is also working on a project to issue Permanent Account Numbers, PAN to assesses within minutes by way of e-KYC authentication using Aadhaar.
It will ...
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Category :
Income Tax |
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0 | Hits : 951
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ICAI may Temporarily Suspend erring members
Posted Date : 15-Feb-2017 , 08:47:10 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) is toying with the idea of introducing the concept of “temporary suspension” of erring members as part of broader improvement of its disciplinary mechanism of the audit profession, said Nilesh Vikamsey, newly elected President.
&l...
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ICAI |
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Bombay High Court bans Mobile, cameras etc.inside Court Halls
Posted Date : 15-Feb-2017 , 08:30:54 am | Posted By CASANSAAR
High Court, Bombay
No.: RG/1611/11/2017
NOTICE
All the parties/litigants and public at large are hereby informed that they shall not take mobile phones, cameras or audio/video recording devices and shall not record anything using them inside the Court Halls. These articles shoul...
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General |
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Govt hands 34 Chartered Accountants names to ICAI for money laundering investigation
Posted Date : 15-Feb-2017 , 08:23:55 am | Posted By CASANSAAR
The government has shared names of 34 chartered accountants (CAs) with the Institute of Chartered Accountants of India (ICAI) for investigation after the professionals were allegedly found to be involved in money laundering through shell companies during the demonetisation period, ICAI president Nil...
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Chartered Accountant |
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RBI wants banks to create common pool of forensic Audit firms
Posted Date : 15-Feb-2017 , 08:19:04 am | Posted By CASANSAAR
The Reserve Bank of India wants banks to create a common pool of forensic audit firms so that they can pick one of them quickly whenever a high-value fraud needs to be investigated.
This is aimed at ensuring that precious time is not lost in evaluating eligibility criteria of audit firms.
Th...
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Auditing |
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0 | Hits : 1309
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5.27 lakh assessees respond to Income Tax query on cash deposits
Posted Date : 14-Feb-2017 , 07:59:37 am | Posted By CASANSAAR
The Income Tax Department today said ‘Operation Clean Money’ launched for e-verification of large cash deposits made during the period from November 9 to December 30 last year has received an overwhelming response with more than 5.27 lakh taxpayers submitting their response out of the 18...
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Income Tax |
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Income Tax dept issues 1.62 cr refunds worth Rs 1.42 lakh cr
Posted Date : 14-Feb-2017 , 07:52:51 am | Posted By CASANSAAR
The income tax department has issued refunds of 1.42 lakh crore rupees so far this fiscal. It is 41.5 per cent higher than last year. The centralised processing centre of the tax department has already processed over 4.19 crore income tax returns and issued over 1.62 crore refunds during the current...
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Income Tax |
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Increase in Entrance, Annual Membership, COP & Restoration Fee - ICAI
Posted Date : 14-Feb-2017 , 07:45:30 am | Posted By CASANSAAR
[TO BE PUBLISHED IN PART III, SECTION 4 OF THE GAZETTE OF INDIA,
EXTRAORDINARY DATED, 9TH FEBRUARY, 2017]
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
New Delhi, the 9th February, 2017
NOTIFICATION
No.1-CA(7)/179/2017:- In exercise of the powers conferred under sub-secti...
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ICAI |
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Income Tax dept extends response window on deposit details to Feb 15
Posted Date : 12-Feb-2017 , 10:26:16 pm | Posted By CASANSAAR
The Income Tax department has extended the date for replying to the queries on cash deposits during the demonetisation period till Wednesday.
On 31st of last month, the tax department had launched 'Operation Clean Money' under which it had sent out SMS and e-mails to 18 lakh assessees in ...
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Income Tax |
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Newly Elected President & Vice-President of ICAI
Posted Date : 12-Feb-2017 , 10:11:01 pm | Posted By CASANSAAR
New President & Vice-President of ICAI
CA Nilesh S Vikamsey & CA Naveen ND Gupta elected as President & Vice President of ICAI for the F.Y. 2017 - 18.
Many Many Congrats from the team of CASANSAAR.
CA.Vivek Khurana (Founder - CASANSAAR) Wi...
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ICAI |
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