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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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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Service Tax |
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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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CBDT issues closure of financial accounts of Income-tax rules
Posted Date : 01-Sep-2016 , 07:55:10 am | Posted By CASANSAAR
The Inter-Governmental Agreement (IGA) with USA for implementation of FATCA entered into force on 31st August, 2015. Under the alternative procedure provided in Rule 114H(8) of the Income-tax Rules, 1962, the financial institutions need to obtain the self-certification and carry-out due diligence pr...
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Income Tax |
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Goa Assembly ratifies GST Bill
Posted Date : 31-Aug-2016 , 04:33:56 pm | Posted By CASANSAAR
With this, 50 per cent of States have passed the Bill, paving way for the presidential assent, Chief Minister Laxmikant Parsekar said.
The Goa Legislative Assembly on Wednesday unanimously passed a resolution ratifying the amendments to the Constitution to pave way for the presidential assent to ...
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GST |
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0 | Hits : 789
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Cabinet approves grant of Permanent Residency Status for Foreign Investors
Posted Date : 31-Aug-2016 , 02:16:43 pm | Posted By CASANSAAR
The Union Cabinet has approved the scheme for grant of Permanent Residency Status (PRS) to foreign investors subject to the relevant conditions in the FDI Policy notified by the Government from time to time. The scheme is expected to encourage foreign investment in India and facilitate Make in India...
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Corporate Law |
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0 | Hits : 965
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SBT-SBI merger: Kerala HC issues notice to finance ministry, RBI
Posted Date : 31-Aug-2016 , 07:36:50 am | Posted By CASANSAAR
The Kerala high court on Tuesday issued notice to the Union finance ministry, the Reserve Bank of India (RBI), State Bank of India (SBI), State Bank of Travancore (SBT) and the state government on a petition filed against the move to acquire SBT by SBI.
A division bench comprising acting chief ...
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Banking |
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Income Tax Assessing Officers Asked To Share Email ID, Phone Number
Posted Date : 31-Aug-2016 , 07:30:30 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has directed the income tax assessing officers (AO) to mention their email IDs and telephone numbers in all the notices issued by them to the taxpayers, after several assesses complained to it that they were unable to communicate with taxman over the internet...
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Income Tax |
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Sikkim Assembly ratifies GST Bill
Posted Date : 30-Aug-2016 , 08:26:12 pm | Posted By CASANSAAR
Sikkim today ratified the Constitution Amendment Bill on Goods and Services Tax (GST), becoming the 12th state to have passed the landmark tax reform.
Eleven states -- Assam, Bihar, Chhattisgarh, Delhi, Gujarat, Haryana, Himachal Pradesh, Jharkhand, Madhya Pradesh, Maharashtra and Nagaland, have ...
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GST |
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CBDT signs 20 Unilateral Advance Pricing Agreements with Indian taxpayers
Posted Date : 30-Aug-2016 , 08:23:00 pm | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) entered into twenty (20) Unilateral Advance Pricing Agreements (APAs) yesterday and today, i.e., 29th August, 2016 and 30th August, 2016, with Indian taxpayers. Many of these agreements also have a “Rollback” provision in them.
The APA Sc...
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CBDT |
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Telangana ratifies GST Bill
Posted Date : 30-Aug-2016 , 05:23:14 pm | Posted By CASANSAAR
The Telangana Legislative Assembly and Legislative Council have unanimously passed a resolution giving their nod to the proposed Amendment to the Constitution to pass the GST (Goods and Service Tax) bill.
Telangana has become the tenth State to ratify the Bill.
A special session of the two Hou...
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GST |
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