IRCTC has Begun the Process of Empanelling Self-Help Groups for Providing Catering/Cooking Services
Posted Date : 25-Feb-2016 , 02:11:43 pm | Posted By CASANSAAR
The Minister of Railways, Shri Suresh Prabhakar Prabhu while presenting the Railway Budget 2016-17 in Parliament today said “Last year, I had appealed to various NGOs and Civil society to help Indian Railways on social issues such as sanitation and provision of basic amenities at stations. I a...
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Budget |
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Railways Vision 2020 to meet Long Felt Desires of Common Man
Posted Date : 25-Feb-2016 , 02:11:03 pm | Posted By CASANSAAR
The Minister of Railways Shri Suresh Prabhakar Prabhu has said that by 2020, Indian Railways look forward to meet the long-felt desires of the common man such as reserved accommodation on trains being available on demand, time tabled freight trains with credible service commitments, high end technol...
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Budget |
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Extension of e-Tourist Visa scheme to 37 more countries from tomorrow
Posted Date : 25-Feb-2016 , 10:45:40 am | Posted By CASANSAAR
The e-Tourist Visa (e-TV) facility will be extended to 37 more countries from tomorrow. The total count of countries under the scheme will become 150.
The new 37 countries included in e-Tourist Visa scheme are Albania, Austria, Bosnia & Herzegovina, Botswana, Brunei, Bulgaria, Cape Verd...
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Budget |
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Suresh Prabhu to present Rail Budget in Parliament today
Posted Date : 25-Feb-2016 , 09:04:20 am | Posted By CASANSAAR
Union Railway Minister Suresh Prabhu will present Rail Budget for fiscal year 2015-16 in the Parliament today.
This will be the Prime Minister Narendra Modi-led NDA Government's first full-fledged railway budget.
People have high expectations from th...
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Budget |
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Over 24.37 crore PAN cards allotted in country - Income Tax department
Posted Date : 25-Feb-2016 , 08:54:57 am | Posted By CASANSAAR
More than 24.37 crore Permanent Account Numbers (PAN) have been registered in the country till now, according to latest data.
A senior income tax department official, quoting latest data, said a total of 24,37,96,693 PAN card numbers have been allotted till now across the country even as the depa...
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PAN |
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Parliamentary Panel raps RBI over NPAs
Posted Date : 25-Feb-2016 , 08:16:58 am | Posted By CASANSAAR
A parliamentary panel has expressed reservations over the way the Reserve Bank of India (RBI) and banks were handling the issue of bad loans.
It said high bad debts have raised serious questions over the credibility of the mechanism to deal with an issue that is threatening th...
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Income Tax |
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0 | Hits : 925
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No surcharge, service charge on card and digital payments: Cabinet
Posted Date : 25-Feb-2016 , 08:01:07 am | Posted By CASANSAAR
With an aim to discourage cash transactions, the Cabinet on Wednesday approved withdrawal of surcharge, service charge and convenience fee on card and digital payments.
The Cabinet -- chaired by Prime Minister Narendra Modi -- approved mandating payments beyond a prescribed threshold only throu...
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General |
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TN Governor calls upon CAs to meet global challenges
Posted Date : 24-Feb-2016 , 07:41:23 am | Posted By CASANSAAR
Tamil Nadu Governor Konijeti Rosaiah suggested the chartered accountants to adopt dynamism in professional standards to meet the globalisation challenges in trade and commerce.
While addressing the CAs at Institute of Chartered Accountants of India Bhavan here on Tuesday, he said ...
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CA |
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No officer to hold sensitive posts beyond 3 years: CBEC
Posted Date : 24-Feb-2016 , 07:31:07 am | Posted By CASANSAAR
No officer should remain posted on sensitive posts for more than three years to ensure probity among the government servants, the Central Board of Customs and Excise (CBEC) has said.
"... It is stated that postings and transfers of all officers/officials are required to be done as per ...
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Excise |
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Finance ministry to go green, print less copies of Economic Survey, Budget
Posted Date : 23-Feb-2016 , 10:08:45 pm | Posted By CASANSAAR
Finance Ministry has decided to go green and print lesser number of copies of the Economic Survey and Budget. This step has been taken on the recommendations of a Parliamentary Standing Committee. The copies of the two important documents would be available online once they are tabled in Parliament....
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Budget |
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PNB declares 900 firms as wilful defaulters; Owe Rs 11,000 Cr
Posted Date : 23-Feb-2016 , 10:05:49 pm | Posted By CASANSAAR
State-owned Punjab National Bank (PNB) has declared a list of about 900 wilful defaulters including Winsome Diamonds & Jewellery, Zoom Developers and Nafed, which owe close to Rs 11,000 crore to the lender.
The bank recently declared beleaguered Kingfisher Airlines and its guarantors UB Hol...
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Banking |
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RBI cancels Bajaj Auto, IDFC Finance, and 24 others' NBFC registration
Posted Date : 23-Feb-2016 , 07:37:46 am | Posted By CASANSAAR
The RBI has cancelled registration of as many as 26 non-banking financial companies (NBFCs) including Bajaj Auto Holdings and IDFC Finance Ltd.
"The Reserve Bank has cancelled the certificate of registration of the 26 non-banking financial companies. Following the cancellation of registrat...
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RBI |
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Budget Session of Parliament commences from 23rd Feb.
Posted Date : 22-Feb-2016 , 09:44:05 pm | Posted By CASANSAAR
Budget Session of Parliament will begin from tomorrow. Since it is the first session of the new calendar year, it will begin with the address of President Pranab Mukherjee to the joint sitting of the Lok Sabha and the Rajya Sabha. During the session, the Rail Budget will be presented on 25th and Gen...
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Budget |
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Income tax department sends 100 fraud links to cyber sleuths
Posted Date : 22-Feb-2016 , 08:01:48 am | Posted By CASANSAAR
Taking note of the spate of phishing and cheat refund emails landing in inboxes of taxpayers, the income tax department has referred over 100 such instances to the country's premier cyber security agency to block these hackers lurking in the e-world.
The department is particularly worried aft...
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Income Tax |
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Income-tax sleuths raid cheapest phone maker
Posted Date : 20-Feb-2016 , 08:17:18 am | Posted By CASANSAAR
Two days after hogging global limelight with the “launch” of its ultra cheap phone, Noida-based handset maker Ringing Bells attracted the attention of income-tax department on Friday.
According to some reports, a three-member had grilled Ringing Bells officials as it was alleged tha...
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Income Tax |
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Amit Mitra appointed as chairman of GST committee of State FMs
Posted Date : 20-Feb-2016 , 07:42:25 am | Posted By CASANSAAR
West Bengal Finance Minister Amit Mitra has been appointed as the new chairman of the Empowered Committee of State Finance Ministers on Goods and Services Tax (GST). He will succeed Kerala Finance Minister K M Mani who had to resign in November last year over corruption charges.
Mr Mitra, w...
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GST |
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Clarification for implementation of FATCA and CRS
Posted Date : 20-Feb-2016 , 07:40:34 am | Posted By CASANSAAR
An Inter-Governmental Agreement between India and USA was signed for implementation of Foreign Account Tax Compliance Act (FATCA). The Government of India has also joined the Multilateral Competent Authority Agreement (MCAA) for Automatic Exchange of Information as per Common Reporting Standard (CRS...
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Category :
Income Tax |
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0 | Hits : 948
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RBI revises norms for NBFC factor firms
Posted Date : 19-Feb-2016 , 09:00:56 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Thursday came out with clarifications for NBFC factor companies to remove any possible regulatory arbitrage with banks that provide factoring services.
The RBI said that a receivable acquired by an NBFC- Factor which is not paid within such period of its due d...
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RBI |
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Banks selecting own auditors reason behind rising NPAs - ICAI
Posted Date : 19-Feb-2016 , 08:58:34 am | Posted By CASANSAAR
Amid worsening bad loans scenario at the lenders, Institute of Chartered Accountants of India (ICAI) on Wednesday blamed the current system of banks appointing its own auditors for the rising non performing assets.
The chartered accountants' apex body president M Devaraja Reddy, who assumed...
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ICAI |
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0 | Hits : 1947
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17 new ITAT members appointed
Posted Date : 19-Feb-2016 , 08:55:00 am | Posted By CASANSAAR
Seventeen new members have been appointed in the Income Tax Appellate Tribunal (ITAT), a government order today said.
Orders to this effect were issued by the Appointments Committee of the Cabinet (ACC) headed by Prime Minister Narendra Modi.
These members, incl...
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Income Tax |
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Frauds - Future approach towards monitoring of frauds in NBFCs
Posted Date : 19-Feb-2016 , 08:44:27 am | Posted By CASANSAAR
RBI/2015-16/327
DNBR (PD) CC.No.075/03.10.001/2015-16
February 18, 2016
All Deposit taking NBFCs (including RNBCs) and
NBFCs- ND-SI
Madam/ Sir,
Frauds - Future approach towards monitoring of frauds in NBFCs
Please refer to circulars DNBS.PD.CC.No.127/ 03.10.42/2008-09 dated Aug...
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RBI |
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SEBI bars 22 entities for options manipulation
Posted Date : 17-Feb-2016 , 10:28:43 pm | Posted By CASANSAAR
Capital market regulator Securities and Exchange Board of India (Sebi) on Wednesday restrained 22 entiies, mostly brokers, from the securities market for their allegedly making illicit gains through manipulating illiquid stocks options.
Sebi found these entities executing 'reversa...
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SEBI |
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Review steps taken by cos to address frauds - ICAI to Auditors
Posted Date : 17-Feb-2016 , 08:32:11 am | Posted By CASANSAAR
Auditors need to review steps taken by companies to deal with suspected frauds worth Rs 1 crore or more that have already been reported and satisfy themselves that the matter has been appropriately addressed, according to chartered accountants' apex body ICAI.
The latest guidance from t...
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ICAI |
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Interest rate on small post office schemes cut by 0.25%; PF rate hiked to 8.8%
Posted Date : 17-Feb-2016 , 07:57:38 am | Posted By CASANSAAR
The Finance Ministry has cut interest rate on post office savings of 1, 2 and 3 year terms, Kisan Vikas Patra (KVP) as well as 5-year Recurring Deposits, but left long-term instruments such as monthly investment scheme (MIS), PPF, senior citizen and girl child plans untouched.
In Chennai, Labou...
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General |
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CBDT resolves disputes to the tune of Rs 5000 crore under Mutual Agreement Procedure (MAP) of Tax Treaties
Posted Date : 17-Feb-2016 , 07:40:28 am | Posted By CASANSAAR
Since 1st April, 2014 till date, the Central Board of Direct Taxes (CBDT) has resolved 180 cases through a Mutual Agreement Procedure (MAP). The total amount of income locked- up in dispute in these cases is approximately Rs. 5,000 crore. The resolved cases pertain to various sectors of the economy ...
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CBDT |
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Vodafone gets IT reminder to pay up Rs 14,200-crore tax dues
Posted Date : 17-Feb-2016 , 07:38:34 am | Posted By CASANSAAR
The Income Tax Department has issued a reminder to Vodafone over its Rs 14,200-crore tax demand.On 4th of this month, the Department had sent a notice to Vodafone International Holdings BV in this regard.
The tax is due from the acquisition of11 billion dollar Hutchison Whampoa's India ...
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Income Tax |
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Resolve taxpayers' rectification cases in 6 months - CBDT to I-T dept
Posted Date : 16-Feb-2016 , 08:12:11 am | Posted By CASANSAAR
In yet another step aimed at addressing taxpayers' grievances, the Central Board of Direct Taxes (CBDT) has directed the taxman to mandatorily resolve rectification pleas from assessees within the set six-month deadline.
CBDT, the nodal authority for framing policies for the I-T department, h...
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CBDT |
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BOB Forex Scam - RBI finds irregularities in Banks' transactions
Posted Date : 16-Feb-2016 , 08:05:52 am | Posted By CASANSAAR
Various irregularities by banks such as non-submission and inordinate delays in filing of Suspicious Transaction Reports (STRs), besides opening of accounts by several entities without fulfilling KYC norms, have been noticed by Reserve Bank of India.
The observation came as part of inspecti...
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Income Tax |
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0 | Hits : 1979
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CBI arrests deputy commissioner of Income Tax for bribery
Posted Date : 16-Feb-2016 , 07:53:59 am | Posted By CASANSAAR
Central Bureau of Investigation have arrested a deputy commissioner, Income Tax, Sirsa (Haryana) and a man for demanding and accepting a bribe of Rs 2 lakhs from the complainant.
A case was registered under sections 7 of Prevention of Corruption Act, 1988 on a complaint. The Complainant(a proprie...
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Income Tax |
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RBI asks income tax assesses to pay dues in advance
Posted Date : 16-Feb-2016 , 07:47:36 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Monday appealed to income tax assessees to pay dues ahead of the due date as well use alternate channels of authorised banks to avoid the rush during end of March.
"Pay I-T (income tax) dues in advance at RBI or at authorised bank branches. Appeal to income...
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RBI |
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