BMC to tie-up with ICAI to clear irregularity in accounts
Posted Date : 12-Aug-2016 , 02:04:29 pm | Posted By CASANSAAR
Following allegations of discrepancies in its accounts and audit system, the Brihanmumbai Municipal Corporation (BMC) is all set to tie-up with the Institute of Chartered Accountants of India (ICAI) to review its accounting and audit procedures.
Municipal commissioner Ajoy Mehta confirmed that th...
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Income Tax |
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Certification must for bank staff selling retail products - RBI
Posted Date : 12-Aug-2016 , 07:38:48 am | Posted By CASANSAAR
RBI on Thursday said bank employees involved in marketing third party retail products and wealth management services "must necessarily undergo" an appropriate certification process to check mis-selling and minimise customer complaints.
In cases where other financial sector regulators ha...
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RBI |
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0 | Hits : 5302
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GST Network to start collecting traders’ data for issuing tax IDs
Posted Date : 12-Aug-2016 , 07:32:35 am | Posted By CASANSAAR
The network that forms the information technology backbone of the goods and services tax (GST) will start a nationwide drive, in collaboration with state governments, to collect information on around eight million traders and issue them tax identification numbers (TIN) as India prepares to implement...
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GST |
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0 | Hits : 1079
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GST rate should not be more than 18% - ICSI
Posted Date : 11-Aug-2016 , 10:12:01 pm | Posted By CASANSAAR
The Institute of Company Secretaries of India (ICSI) today said the GST rate should not be more than 18 per cent, otherwise it will cause rise in inflation.
"If RNR is 19 per cent or more, then we may have inflation in near term. We feel that the ideal RNR rate for GST should be 18 per cent ...
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GST |
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0 | Hits : 768
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High Court stays disciplinary proceedings against CA
Posted Date : 11-Aug-2016 , 07:38:05 am | Posted By CASANSAAR
The High Court of Kerala has stayed disciplinary proceedings initiated by the Institute of Chartered Accountants of India against a member for exceeding the limit on the number of tax audits.
Disposing a writ filed by Shaji Poulose, a Chartered Accountant practising in Malappuram Dist...
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CA |
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1 | Hits : 2103
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Cabinet approves foreign investment in other Financial Services sector
Posted Date : 10-Aug-2016 , 08:39:48 pm | Posted By CASANSAAR
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval to amend regulation for foreign investment in the Non- Banking Finance Companies (NBFCs).
The amendment in the existing Foreign Exchange Management (Transfer or Issue of Security by the Person Resident...
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Finance |
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0 | Hits : 738
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Govt to set up committee to review e-commerce rules
Posted Date : 10-Aug-2016 , 08:36:12 pm | Posted By CASANSAAR
The government has decided to set up a committee to look into all issues including foreign direct investment norms pertaining to the fast growing e-commerce industry in the country. Official sources said, the committee will be headed by the NITI Aayog CEO.
The other members in the panel will incl...
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General |
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0 | Hits : 690
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CBDT constitutes committee to review media policy
Posted Date : 10-Aug-2016 , 07:29:12 am | Posted By CASANSAAR
CBDT has constituted a new committee to "review" the existing media policy for communicating the activities of the board and the income tax department to the public.
The nine-member committee has been created under Central Board of Direct Taxes member...
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CBDT |
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0 | Hits : 850
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SEBI launches e-payment mode for penalties
Posted Date : 10-Aug-2016 , 07:27:40 am | Posted By CASANSAAR
Markets regulator Sebi has introduced electronic mode for payment of penalties, disgorgement as well as settlement amounts.
Currently, Sebi accepts payment through demand drafts.
The move would help in enabling ease of payment, the Securities and Exchange Board of&n...
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SEBI |
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0 | Hits : 787
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IT Dept Finds Unaccounted Wealth of Rs 130 Crore With AAP MLA
Posted Date : 10-Aug-2016 , 07:21:15 am | Posted By CASANSAAR
The Income Tax Department has found unaccounted income and investment worth Rs 130 crore with Aam Aadmi Party (AAP) MLA Kartar Singh Tanwar, sources said on Tuesday.
The department has already seized unaccounted cash and jewellery of nearly Rs 1 crore from Tanwar and his brother. Tanwar has been ...
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Income Tax |
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0 | Hits : 996
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ICAI Form Group for looking into the appointments/reappointments of statutory/internal auditors of various units of ICAI
Posted Date : 10-Aug-2016 , 07:14:24 am | Posted By CASANSAAR
No.M-626/2016 ...
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ICAI |
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0 | Hits : 1404
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ICAI form Group for finalizing the format of Fit & Proper Certificate to be issued to Indian CA Firms
Posted Date : 10-Aug-2016 , 07:12:58 am | Posted By CASANSAAR
No.M-626/2016 ...
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ICAI |
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0 | Hits : 1186
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Income Tax refunds of Rs 14,332 cr issued till Aug 5 this year
Posted Date : 09-Aug-2016 , 06:48:01 am | Posted By CASANSAAR
Income Tax refunds of Rs 14,332 crore have been issued this year till August 5, the Finance Ministry said.
"The Central Processing Centre (CPC) Bengaluru has already issued over 54.35 lakh refunds totaling to Rs 14,332 crore which includes 20.81 lakh refunds for AY 2016-17 (current year retu...
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Income Tax |
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0 | Hits : 826
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Constitutional amendments on GST Bill made by RS, rectified by LS unanimously
Posted Date : 08-Aug-2016 , 08:23:43 pm | Posted By CASANSAAR
Lok Sabha, on Monday, unanimously passed the 122nd Constitutional Amendment Bill as amended by the Rajya Sabha with all 443 members voting in favour.
AIADMK leader P.Venugopal led a walk out of party MPs after the party was not satisfied with Finance Minister Arun Jaitley's clarifications o...
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GST |
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0 | Hits : 1446
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RBI launches 'Sachet' portal to check illegal money collection
Posted Date : 08-Aug-2016 , 07:38:20 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) launched a portal to curb illegal collection of money by companies.
This website will enable public to obtain information regarding entities who accept deposits, lodge complaints and also share information regarding illegal acceptance of deposits, said&...
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RBI |
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0 | Hits : 1425
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Delhi HC dismisses challenge to Centre’s levy of Service Tax on liquor manufacturers
Posted Date : 08-Aug-2016 , 07:32:14 am | Posted By CASANSAAR
The Delhi high court’s Division Bench comprising Justices S. Muralidhar and Vibhu Bakhru today dismissed challenges by liquor manufacturers’ associations to the levy of service tax by the Central Government on those who manufacture alcoholic liquor on job work basis.
The central thrus...
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Service Tax |
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0 | Hits : 1166
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CBI nodal agency for banks to report high value frauds
Posted Date : 07-Aug-2016 , 01:34:45 pm | Posted By CASANSAAR
The CBI has been made the nodal authority for banks to report high value frauds worth over Rs 50 crore in public sector banks.
The move comes after Reserve Bank of India (RBI) noticed that banks do not have a focal point for filing complaints with the CBI. As a result, the investigative agency ...
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Banking |
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0 | Hits : 858
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Govt may have to amend SEZ Act to align it with GST
Posted Date : 07-Aug-2016 , 01:29:09 pm | Posted By CASANSAAR
The government may have to amend the SEZ Act 2005 to align it with the Goods and Services Tax (GST) law so that central excise and service tax benefits can be extended to developers and entrepreneurs.
The Commerce Ministry is in the process of preparing a note on the changes required in the Speci...
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GST |
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0 | Hits : 1242
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Rs 1.23 Lakh Crore of Income Tax Refund Pending: Government
Posted Date : 06-Aug-2016 , 07:00:44 am | Posted By CASANSAAR
Refund claims worth Rs 1.23 lakh crore are pending with the Income Tax Department as on March 31, the government on Friday said.
"As on March 31, 2016, refund claims of above Rs 10 lakh are pending only in 57,783 cases for various assessment years, involving a total amount of Rs 1,23,335 cro...
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Income Tax |
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0 | Hits : 1011
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RBI reviewing its policy to promote cashless transaction: Govt
Posted Date : 06-Aug-2016 , 06:51:41 am | Posted By CASANSAAR
The government today said, Reserve Bank has been reviewing its policy to promote cashless transaction by electronic mode, which is safe, secure and convenient.
In a written reply in Lok Sabha, the Minister of State for Finance Santosh Kumar Gangwar said, according to RBI there has been a ma...
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RBI |
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0 | Hits : 839
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GST bill in LS likely on Monday, BJP issues whip
Posted Date : 05-Aug-2016 , 01:45:57 pm | Posted By CASANSAAR
The GST Bill, which was passed by the Rajya Sabha on Wednesday, is likely to be tabled in the Lok Sabha on August 8 for which the BJP has issued a whip to its members in the Lower House to ensure its smooth passage.
The whip issued by the ruling party today has asked its members to be present in ...
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Category :
GST |
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0 | Hits : 977
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Beware of fake mails regarding Job Openings
Posted Date : 04-Aug-2016 , 09:48:11 pm | Posted By CASANSAAR
Respected Members,
We would like to aware you that there are some fake agencies who mail you the Job Appointment/Offer Letters in the name of some reputed companies and ask for some handsome amount from you (as a refundable security amount). And It will seem to you in a way t...
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CA |
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0 | Hits : 1346
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RBI starts portal to curb firms' illegal money pooling
Posted Date : 04-Aug-2016 , 07:33:43 pm | Posted By CASANSAAR
To curb illegal and unauthorised pooling of funds by unscrupulous firms, Reserve Bank today launched a website, which will help people obtain information about entities allowed to collect deposits.
Launching the portal -- sachet.rbi.org.in -- RBI Governor Raghuram Rajan said that initiating quick...
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RBI |
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0 | Hits : 901
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Govt aims to roll out GST from April 1 next year
Posted Date : 04-Aug-2016 , 07:31:58 pm | Posted By CASANSAAR
The Government has set the target of 1st April next year for roll out of the Goods and Services Tax, GST.
Addressing a press conference in New Delhi, Finance Minister Arun Jaitley today unveiled a detailed road map for GST implementation.
He said that government is aiming for an optimal ...
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Category :
GST |
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0 | Hits : 908
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Frequently Asked Questions (FAQs) on Goods and Services Tax (GST)
Posted Date : 04-Aug-2016 , 07:19:59 am | Posted By CASANSAAR
Following are the answers to the various frequently asked questions relating to GST:
Question 1.What is GST? How does it work?
Answer: GST is one indirect tax for the whole nation, which will make India one unified common market.
GST is a single tax on the supply of goods and serv...
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GST |
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0 | Hits : 2866
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India’s biggest tax reform measure, GST Bill passed in Rajya Sabha
Posted Date : 03-Aug-2016 , 09:29:53 pm | Posted By CASANSAAR
After an over seven hour-long debate, the Rajya Sabha today passed the long-pending Goods and Services Tax (GST) which is being described as the country's most transformative tax reform in decades. Barring All India Anna Dravida Munnetra Kazhagam (AIADMK) most other parties supported t...
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GST |
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0 | Hits : 1483
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Cabinet clears Motor Vehicle (Amendment) Bill 2016 to improve road safety in India
Posted Date : 03-Aug-2016 , 08:49:11 pm | Posted By CASANSAAR
Union Cabinet today gave its approval to Motor Vehicle (Amendment) Bill 2016 to improve road safety in the country. The bill proposes to increase penalties against traffic violations to as deterrent measure.
It also has stricter provisions for offences like juvenile driving, drunken driving...
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General |
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0 | Hits : 709
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GST Bill amendments circulated, RS to take it up tomorrow
Posted Date : 02-Aug-2016 , 07:36:56 pm | Posted By CASANSAAR
The government has circulated official amendments to the GST bill to drop 1 per cent additional tax and include a definite provision in the statute for compensating states for revenue loss for 5 years as it gears up to discuss the long-pending bill in the Rajya Sabha tomorrow.
Under the modified ...
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Category :
GST |
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0 | Hits : 908
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Pass Percentage of CA IPC May 2016 Exams
Posted Date : 02-Aug-2016 , 02:20:51 pm | Posted By CASANSAAR
CA IPC May 2016 Exams Result has been announced by ICAI.
The Detail of percentage of candidates passed in the above said examinations are given below.
Candidates Applied For
No. Of Candidates Appeared
No. Of Candidates Passed
% Of Pass
I
...
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ICAI |
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0 | Hits : 3652
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Govt lists GST bill in Rajya Sabha for Wednesday
Posted Date : 01-Aug-2016 , 09:48:39 pm | Posted By CASANSAAR
The long-pending GST Bill was today listed for consideration and passage in Rajya Sabha on Wednesday amidst strong indications that the most far-reaching taxation reform in independent India would be supported by Congress and all other major political parties.
The Goods and Services Tax (GST) Bil...
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Category :
GST |
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0 | Hits : 1067
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