SEBI asks govt to appoint Woman Director on its Board
Posted Date : 06-Oct-2016 , 08:26:56 am | Posted By CASANSAAR
Sebi has suggested the government to appoint at least one woman director on the regulator's board, in line with its own directions for listed companies' gender diversity on high-table under corporate governance norms.
The Securities and Exchange Board of India (Sebi) had issued guid...
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SEBI |
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States start looking for consultants for GST
Posted Date : 05-Oct-2016 , 10:49:13 pm | Posted By CASANSAAR
States have started scouting for tax consultants to advise them on technical aspects of the goods and services tax (GST), which is planned to be rolled out from April next year.
With the Centre moving on to the fast track to meet the April 2017 deadline, the Punjab government has initiated the pr...
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GST |
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Sushil Chandra to be the next CBDT Chief
Posted Date : 05-Oct-2016 , 10:43:45 pm | Posted By CASANSAAR
Senior Indian Revenue Service officer Sushil Chandra was today appointed chairperson of the Central Board of Direct Taxes (CBDT), the apex policy making body for the Income Tax department.
He will replace Rani Singh Nair, who retires this month-end.
Chandra, a 1980 batch officer of Indian Reve...
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CBDT |
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Central excise officers' body plans protest on GST
Posted Date : 05-Oct-2016 , 10:33:26 pm | Posted By CASANSAAR
An association representing nearly 15,000 central excise and customs officials today said it will launch a nation-wide protest and go on a mass casual leave on 'budget day' if its various demands related to implementation of Goods and Service Tax (GST) are not addressed.
The All India Ass...
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GST |
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IDS 2016 Declarations Cross Rs.71,000 Cr - ICAI
Posted Date : 05-Oct-2016 , 08:08:35 am | Posted By CASANSAAR
The CA Institute on Tuesday said that as per the latest information available with the Institute total declarations made under the ‘Income Declaration Scheme’ 2016 has crossed Rs.71,000 crore.
M Devaraja Reddy, President, Institute of Chartered Accountants of India (ICAI), told at p...
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Income Tax |
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CBEC overhaul likely to administer GST from April 1
Posted Date : 05-Oct-2016 , 07:59:34 am | Posted By CASANSAAR
The government is likely to overhaul the central board of excise and customs’ (CBEC) organisational structure to administer the Central GST (CGST) and Integrated-GST (IGST) from April 1, the appointed date for rolling out the goods and service tax (GST) regime.
Under the CBEC, it is propose...
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GST |
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Provisional certificate valid till degree is issued: HC
Posted Date : 05-Oct-2016 , 07:49:55 am | Posted By CASANSAAR
Provisional certificate issued by a varsity continues to be valid till a degree is issued, Delhi High Court has said while pulling up Delhi University (DU) for denying admission to a student under Scheduled Tribe category on the basis of a provisional certificate.
Justice Sanjeev Sachdeva directe...
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General |
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RBI gives thumbs up to 18 per cent GST rate
Posted Date : 04-Oct-2016 , 09:00:40 pm | Posted By CASANSAAR
The implementation of the much awaited Goods and Services tax could produce a short-lived pass-through to the inflation trajectory the Reserve Bank of India has said in its Monetary Policy Report. It also said that a 18% GST rate would not have any material impact on CPI inflation.
"Wh...
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GST |
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CBI arrests Income Tax officer in bribery case
Posted Date : 04-Oct-2016 , 08:46:31 pm | Posted By CASANSAAR
CBI has arrested an Income Tax officer for allegedly accepting a bribe of Rs 3 lakh and demanding Rs 5,000 as additional illegal gratification for his staff. A CBI spokesperson said in Delhi that the officer and his staff member were arrested from Mumbai.
“A case was registered U/...
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Income Tax |
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RBI cuts repo rate by 25 basis points to 6.25% from 6.50%
Posted Date : 04-Oct-2016 , 08:40:27 pm | Posted By CASANSAAR
The Reserve bank of India has reduced the key policy rate or the repo rate by 25 bps to 6.25 per cent in the fourth bimonthly policy review announced on Tuesday.
This is the first rate decision made by the Monetary Policy Committee (MPC) of the bank, which is headed by RBI Governor Urjit Patel an...
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RBI |
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Plz help the family of CA died in young age
Posted Date : 04-Oct-2016 , 08:54:49 am | Posted By CASANSAAR
Untimely demise of CA Amit Garg s/o Sh. R.C.Garg (Membership No. 502815) due to cancer based at Faridabad had left his family high and dry (including non working wife and three schooling children).
Any monetary assistance to the bereaved family of deceased would be appreciated.
Bank ...
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General |
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CAG may Audit IDS, not individual declarations
Posted Date : 04-Oct-2016 , 08:21:40 am | Posted By CASANSAAR
The Comptroller and Auditor General of India (CAG) may audit the just ended black money disclosure scheme for the process followed and how well it performed, but will not get into the disclosures made.
As much as Rs 65,250 crore of undeclared assets were declared through 64,275 declarations...
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CAG |
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CAG lens on entities avoiding tax with ‘farm income’ claim
Posted Date : 03-Oct-2016 , 10:08:33 pm | Posted By CASANSAAR
The comptroller and auditor general has initiated an audit of entities claiming tax exemption on agricultural income amid suggestions from some political parties and income tax authorities that a blanket exemption be done away with and tax be levied after a threshold.
The auditor has written to t...
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Income Tax |
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CBDT committed to Strict Confidentiality under Income Declaration Scheme: 2016
Posted Date : 03-Oct-2016 , 07:53:20 pm | Posted By CASANSAAR
While announcing the results of the Income Declaration Scheme 2016 on 1st October, 2016 at a press conference in Delhi, the Honourable Finance Minister Shri Arun Jaitley stressed that no break-up of these declarations on the basis of trades/cities/states shall be released in order to ensure absolute...
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CBDT |
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Kareena Kapoor Khan's income tax account hacked, returns filed
Posted Date : 03-Oct-2016 , 12:52:09 pm | Posted By CASANSAAR
Bollywood actor Kareena Kapoor Khan on Friday filed a complaint against an unidentified person for allegedly hacking into her Income Tax account and filing a false return claim.
The cyber police station in BKC has registered a case and a probe is on to identify and trace the accused.
Police so...
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Income Tax |
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IDS - 64,275 declarants disclose Rs 65,250 cr black money - FM
Posted Date : 01-Oct-2016 , 10:36:41 pm | Posted By CASANSAAR
In the biggest ever blackmoney disclosure, at least Rs 65,250 crore of undisclosed assets were declared in the one-time compliance window, yielding Rs 29,362 crore in taxes to the government.
While the blackmoney declarations will go up once all the online and manual filings of undisclosed ...
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Income Tax |
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Govt forms panel to examine issues related to Audit Firms
Posted Date : 01-Oct-2016 , 07:38:14 am | Posted By CASANSAAR
The government on Friday set up a three-member expert panel, headed by The Energy and Resources Institute (Teri) chairman Ashok Chawla, to examine various issues related to audit firms, including possible adverse impact from restrictive shareholder agreements.
Reserve Bank of India (RBI) deputy g...
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Auditing |
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IDS - Rs 65,000 Cr and counting
Posted Date : 01-Oct-2016 , 07:34:39 am | Posted By CASANSAAR
The Capital’s tallest building, the 28-storey Civic Centre near the New Delhi Railway Station, is hardly a hub of action on a weekend night. But September 30 was not like any other Friday evening. It was the last day of the government’s Income Declaration Scheme (IDS). And hours before t...
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Income Tax |
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CBDT notifies 7 districts of Andhra Pradesh for availing tax incentives under the Income-tax Act.
Posted Date : 30-Sep-2016 , 10:38:03 pm | Posted By CASANSAAR
Under the Andhra Pradesh Re-organisation Act, 2014 the Government of India is extending special assistance to four districts of Rayalseema and three districts of North coastal Region of Andhra Pradesh. To further boost the industrial activities, the CBDT has notified these seven districts for a...
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CBDT |
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GST Council agrees on 5 areas; differ over 1st meet decision
Posted Date : 30-Sep-2016 , 10:37:31 pm | Posted By CASANSAAR
In signs of fracture, the Centre and states today disagreed on decisions reached at the first meeting of the GST Council on service tax assessment although they reached a consensus on area based exemption in the new tax regime.
The second meeting of the all-powerful GST Council, headed by F...
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GST |
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Clarification on the difference in requirements relating to auditor’s rotation under SQC 1 vis-à-vis Companies Act, 2013 - ICAI
Posted Date : 30-Sep-2016 , 03:40:23 pm | Posted By CASANSAAR
1. The Council of the Institute of Chartered Accountants of India (ICAI), at its 359th meeting held on September 16-17, 2016 considered an issue regarding the difference in requirements relating to the auditor’s rotation under the SQC 1, “Quality Control for Firms that Perform Audits and...
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ICAI |
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Check Online ICAI Membership Fees Payment Status
Posted Date : 30-Sep-2016 , 03:08:14 pm | Posted By CASANSAAR
Last Date for payment of Membership fees are 30th September 2016. 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, 2016 in order to...
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ICAI |
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GST Council to meet today to discuss rules, exemptions
Posted Date : 30-Sep-2016 , 03:06:58 pm | Posted By CASANSAAR
GST Council at its meeting today will finalise the rules regarding registration, refunds and payment and also take a view on exemption of goods under the upcoming Goods and Services Tax (GST) regime.
To be chaired by Union Finance Minister Arun Jaitley, the Council will also deliberate on a...
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GST |
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Banks can publish photos of declared wilful defaulters only - RBI
Posted Date : 30-Sep-2016 , 03:06:25 pm | Posted By CASANSAAR
RBI on Thursday said lenders can publish photographs of only those borrowers in newspapers who have been declared wilful defaulters as per the central bank’s guidelines.
While asking the banks not to indiscriminately publish photographs of defaulters and guarantors in newspapers, it directe...
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RBI |
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Project Saksham gets Rs.2256 Cr. Govt nod for easy GST roll-out
Posted Date : 30-Sep-2016 , 03:06:03 pm | Posted By CASANSAAR
Project Saksham, a new indirect tax network of the Central Board of Excise and Customs (CBEC), has been approved by the Cabinet Committee on Economic Affairs (CCEA) on Wednesday.
The total cost of the project is estimated to be Rs 2,256 crore, which will be incurred over seven years. This would h...
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GST |
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0 | Hits : 938
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SEBI allows trading in options contracts on commodities
Posted Date : 30-Sep-2016 , 03:05:34 pm | Posted By CASANSAAR
The Securities and Exchange Board of India has allowed the introduction of options contracts in the commodity derivatives market. Currently, only futures contracts are available in the commodity segment.
Increased participation
“Introduction of new commodity derivatives products has been...
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SEBI |
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CBEC releases draft format of GST tax audit report and ITC mismatch report
Posted Date : 30-Sep-2016 , 03:04:26 pm | Posted By CASANSAAR
On September 26, 2016 the CBEC had notified draft Rules and Forms under GST relating to registration, invoice and payments.
Now the Govt. has notified draft Rules/Forms for GST returns and refunds along with the formats of Audit Report (Form GST 9A) and ITC Mismatch Report (GST ITC-1A/ITC-...
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GST |
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SEBI issues norms on 'algorithmic' trade for commodity bourses
Posted Date : 30-Sep-2016 , 03:04:03 pm | Posted By CASANSAAR
Markets regulator Sebi on Tuesday issued a detailed guidelines for regulation of algorithmic trading in the commodity market.
Algorithmic trading or 'algo' in market parlance refers to orders generated at a super-fast speed by use of advanced mathematical models that involve automated exe...
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SEBI |
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Monthly returns to be mandatory under GST - CBEC
Posted Date : 30-Sep-2016 , 03:03:41 pm | Posted By CASANSAAR
Businesses have to file at least three monthly returns and one annual return for each state, if draft rules proposed by the indirect tax department are introduced under the goods and services tax (GST) regime.
The Central Board of Excise and Customs (CBEC) on Tuesday came out with one more set of...
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GST |
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CBEC unveils draft GST Rules and Formats
Posted Date : 30-Sep-2016 , 03:03:04 pm | Posted By CASANSAAR
The Central Board of Excise and Customs, CBEC has come out with three draft rules for registration, invoice and payments under Goods and Services Tax, GST. The draft rules were unveiled in less than a week after the first meeting of the GST Council.The Board has invited comments on the rules by Wedn...
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GST |
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