President hopes Govt will set up GST Council soon
Posted Date : 10-Sep-2016 , 10:16:11 pm | Posted By CASANSAAR
President Pranab Mukherjee on Saturday hoped the government will set up a Goods and Services Tax (GST) Council soon and reduce cascading effect of indirect taxes.
President was speaking at the centenary celeberations of Karur Vysya Bank in Chennai.
The GST,has been ratified by 19-20 stat...
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GST |
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I.Tax Dept asks declarants to hurry as blackmoney window nears end
Posted Date : 10-Sep-2016 , 10:06:44 pm | Posted By CASANSAAR
The Income Tax department on Saturday said those holding potential black money should hurry up and declare their stash funds under the one-time domestic compliance window as only 20 days are left for the Income Declaration Scheme (IDS) to close.
“The Income Declaration Scheme closes on 30.0...
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Income Tax |
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0 | Hits : 884
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Padma Awards Goes Public, Now Citizens Can Nominate Any Achiever
Posted Date : 10-Sep-2016 , 11:03:23 am | Posted By CASANSAAR
Any Indian can now recommend any achiever for the prestigious Padma Awards, with the government throwing open the nomination process to general public to make it transparent and curb the crony culture of influence and lobbying.
The nominations can be made online but the nominators would be requir...
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General |
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ITR Due Date for tax payers whose accounts are required to be audited extended to 17 Oct.
Posted Date : 09-Sep-2016 , 07:45:20 pm | Posted By CASANSAAR
Due date for filing of Income tax returns by tax payers whose accounts are required to be audited under IT Act has been extended to 17th Oct.
Authentic News.
#casansaar(Tweet by Ministry of Finance)...
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Income Tax |
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56% CAs admit presence of corporate tax evasion
Posted Date : 09-Sep-2016 , 08:23:58 am | Posted By CASANSAAR
In a first-of-its kind survey conducted among 95 chartered accountants across the state, 56% admitted to the existence of the malpractice of corporate tax evasion. The assessors cited multiple overlapping taxes, lack of prudent government spending and delays in getting tax refunds as the main reason...
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CA |
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0 | Hits : 2016
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GST to spur overhaul of CA course syllabus
Posted Date : 09-Sep-2016 , 08:18:33 am | Posted By CASANSAAR
The implementation of the goods and services tax (GST) bill will call for major changes in the chartered accountancy (CA) syllabus. At least two tax papers of the course will see "big changes", the Institute for Chartered Accountants of India has said.
As the GST bill has already been p...
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GST |
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Banks can accept tax dues in cash under IDS: RBI
Posted Date : 09-Sep-2016 , 08:15:56 am | Posted By CASANSAAR
The Reserve bank of India (RBI) on Thursday directed banks to accept tax dues in cash under the domestic black money declaration scheme which closes on September 30. Under the Income Declaration Scheme, 2016, which came into effect on June 1, one can come clean by paying tax, penalty and cess totall...
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RBI |
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Arunachal Pradesh assembly ratifies GST bill to simplify taxation
Posted Date : 09-Sep-2016 , 08:06:44 am | Posted By CASANSAAR
Arunachal Pradesh on Thursday ratified Goods and Service Tax (GST) Bill to simplify the taxation by implementing single tax rates across the country. Deputy Chief Minister Chowna Mein, who also holds the finance portfolio, moved the resolution for ratification of the Constitution (One Hundred and Tw...
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GST |
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CBDT launches 'e-nivaran' facility to resolve income tax grievances
Posted Date : 08-Sep-2016 , 09:45:39 pm | Posted By CASANSAAR
CBDT has launched the ambitious 'e-nivaran' facility for online redressal of taxpayers' grievances related to refunds, ITRs and PAN among others as part of its initiative to reduce instances of harassment of the public when it comes to complaints related to the I-T Department.
A...
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Income Tax |
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President has signed the 122nd Constitutional Amendment Bill on GST
Posted Date : 08-Sep-2016 , 05:11:30 pm | Posted By CASANSAAR
The much-awaited Goods and Services Tax now becomes a law with President Pranab Mukherjee signing the bill after 16 states ratified it.
The government plans to roll out the new indirect tax regime from April 1, 2017. GST, the biggest tax reform since Independence, will create uniform market...
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GST |
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SEBI tightens norms for Promoters & Directors of delisting firms
Posted Date : 08-Sep-2016 , 08:09:44 am | Posted By CASANSAAR
Restrictions on Promoters and Whole-Time Directors of Compulsorily Delisted Companies Pending Fulfillment of Exit Offers to the Shareholders
1. In terms of section 21A of the Securities Contracts (Regulation) Act, 1956 (SCR Act) read with rule 21 of the Securities Contracts (Regulation) Rules, 19...
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SEBI |
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No need to carry physical copy of DL / RC, Install DigiLocker app
Posted Date : 07-Sep-2016 , 07:20:44 pm | Posted By CASANSAAR
The government on Wednesday launched a new service through which a user can access their driving licence and registration certificate digitally and need not carry a physical copy all the time.
The service was launched by Union Minister Nitin Gadkari and Ravi Shankar Prasad in New Delhi.
This w...
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General |
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Have a stiff target for implementation of GST on April 1, 2017 - FM
Posted Date : 07-Sep-2016 , 04:48:04 pm | Posted By CASANSAAR
Finance minister Arun Jaitley said the implementation target of April 1, 2017 is stiff but the government would try to keep it.
"It a stiff target. We are running against time. We would like to give it a try, " Jaitley said in an interactive session at the India Summit organised b...
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GST |
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SC asks states, UTs to upload FIRs on websites within 24 hours
Posted Date : 07-Sep-2016 , 02:02:25 pm | Posted By CASANSAAR
The Supreme Court on Wednesday directed all states and Union Territories to upload first information reports (FIRs) on their websites within 24 hours of registration at police stations.
A bench comprising Justices Dipak Misra and C Nagappan, however, extended the time up to 72 hours for uploading...
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General |
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RBI asks IT assesses in national capital to pay advance dues
Posted Date : 07-Sep-2016 , 10:58:22 am | Posted By CASANSAAR
The Reserve Bank of India said there is a rush for remitting income tax dues at the Reserve Bank and other bank authorised to collect income tax towards the end of March/June/September/December is heavy.
It becomes difficult for the RBI to cope up with the pressure of receipts although additional...
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Income Tax |
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States to bear cost of filing tax returns, payments under GST
Posted Date : 07-Sep-2016 , 10:50:14 am | Posted By CASANSAAR
Every tax payment and return filing under the goods and services tax (GST) regime will cost around Rs.50-60, but traders will not have to bear this cost.
Instead, the states will bear this cost as they try to protect the trader base from higher costs and ensure a smooth transition to the GST regi...
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GST |
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Study Group for Examining the Desirability and Feasibility of having a New Financial Year - ICAI
Posted Date : 06-Sep-2016 , 07:53:12 am | Posted By CASANSAAR
Council Affairs/M-626/2016 5th September, 2016
ALL MEMBERS O...
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ICAI |
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SIT asks RBI to share black money data with government agencies
Posted Date : 06-Sep-2016 , 07:51:26 am | Posted By CASANSAAR
The special investigation team (SIT) on black money has asked the Reserve Bank of India (RBI) to develop an institutional mechanism, in consultation with the revenue department, to share export-import and foreign exchange (forex) transaction information with investigative agencies, to curb illicit f...
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Black Money |
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IDS 2016 – Government issues Clarifications in the form of Sixth Set of FAQs
Posted Date : 06-Sep-2016 , 07:39:12 am | Posted By CASANSAAR
The Income Declaration Scheme, 2016 (the Scheme) provides an opportunity to persons who have not paid full taxes in the past to come forward and declare their undisclosed income and assets. The Scheme has come into effect from 1.6.2016 and is open for declarations up to 30.9.2016. The Income Declara...
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Income Tax |
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0 | Hits : 1773
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Urjit Patel assumes charge as new RBI Governor
Posted Date : 06-Sep-2016 , 07:37:39 am | Posted By CASANSAAR
Urjit Patel who took over as the 24th Governor of Reserve Bank will have a tough task in maintaining the legacy of his predecessor, Raghuram Rajan, and balance the need to contain inflation without hurting growth.
Patel assumed charge effective September 4, 2016, after serving as deputy governor ...
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RBI |
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Services growth hits three-and-a-half years high
Posted Date : 05-Sep-2016 , 04:30:58 pm | Posted By CASANSAAR
Services sector growth touched the highest level in over three-and-a-half years, driven by new business orders amid improved market conditions. Nikkei India Services Purchasing Managers' Index (PMI), which tracks changes in activity at services sector companies on a monthly basis, stood at 54.7 ...
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Category :
Service Tax |
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0 | Hits : 954
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Rajasthan Assembly ratifies GST Bill
Posted Date : 02-Sep-2016 , 06:09:11 pm | Posted By CASANSAAR
Rajasthan Assembly today unanimously ratified the Constitution Amendment Bill on Goods and Services Tax (GST) passed by parliament.
Speaking on the resolution, Chief Minister Vasundhara Raje said that the GST will have a very positive impact and states including Rajasthan will get advantages.
...
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GST |
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Small traders to be exempted from GST
Posted Date : 02-Sep-2016 , 02:06:55 pm | Posted By CASANSAAR
Small trading having an annual turnover up to Rs 25 lakh will be exempted from goods and services tax and the Centre and states are likely to agree to this limit, Revenue Secretary Hasmukh Adhia said on Thursday.
"There will be an exemption limit for small traders and the...
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GST |
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Firms were made to deposit service tax under COERCION - HC
Posted Date : 02-Sep-2016 , 08:35:31 am | Posted By CASANSAAR
In a strong order against central excise authority, Delhi High Court asked it to refund the service tax amount paid by three travel portals soon, observing that these firms were made to deposit the money under "coercion and duress" through the "unwarranted" arrest of some of thei...
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Income Tax |
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RBI allows banks to sell stressed assets to NBFCs, other lenders
Posted Date : 02-Sep-2016 , 08:13:11 am | Posted By CASANSAAR
Banks can now sell their stressed assets to other lenders, non-banking financial companies and financial institutions in addition to distressed-asset buyers, a move the banking regulator said will speed up the resolution of bank bad loans.
The Reserve Bank of India (RBI), in guidelines issued on ...
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RBI |
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Trade Union strike today likely to hit banking, transport
Posted Date : 02-Sep-2016 , 08:09:47 am | Posted By CASANSAAR
Essential services such as banking and public transport are likely to be hit on Friday as trade unions go on a nationwide strike to protest the government's alleged "indifference" to their demand for better wages and "anti-worker" changes in labour laws. Railway services will...
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General |
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GST bill can now go for Presidential assent - FM
Posted Date : 02-Sep-2016 , 08:05:37 am | Posted By CASANSAAR
Government will seek Presidential assent for the landmark Constitution amendment bill for GST as 16 states have ratified the legislation, Finance Minister Arun Jaitley said.
With Odisha approving the constitution amendment at a special assembly session today, 50 per cent of the states have ratifi...
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GST |
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Chartered accountants drag Cost accountants to Court
Posted Date : 01-Sep-2016 , 08:30:14 am | Posted By CASANSAAR
Chartered accountants have dragged charging the latter with trying to 'misrepresent' themselves as chartered accountants, and attempting to misappropriate the reputed acronym ICAI (Institute of Chartered Accountants in India).
Justice M Sathyanarayanan, before whom the writ petition filed...
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Chartered Accountant |
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CBDT issues circular endorsing validity of e-declarations
Posted Date : 01-Sep-2016 , 08:07:07 am | Posted By CASANSAAR
The CBDT has issued an order endorsing the legal validity of the e-declarations made under the ongoing domestic black money window, known as the Income Declaration Scheme (IDS).
With only a month left for the IDS to close on September 30, the Central Board of Direct Taxes (CBDT) said for those en...
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CBDT |
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SEBI suspects money laundering by brokers in NSEL scam
Posted Date : 01-Sep-2016 , 08:01:18 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) has come across fresh evidence indicating that as many as five brokers might have used the 'exchange mechanism' to launder money in the Rs 5,574-crore National Spot Exchange (NSEL) scam, according to the audit report submitted to it.
The...
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SEBI |
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