UK Sinha gets one-year extension as SEBI Chairman
Posted Date : 16-Feb-2016 , 07:28:16 am | Posted By CASANSAAR
The government on Monday extended U.K. Sinha’s tenure as the chairman of the Securities and Exchange Board of India (Sebi) for a year, opting for continuity at a time of domestic and global market volatility.
The appointments committee of the cabinet approved extension for Sinha from 18 F...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 759
|
 |
New ICAI President wants panel for Bank Audit appointments
Posted Date : 15-Feb-2016 , 08:02:27 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) is recommending a revamp of the auditor appointment system for banks, both for central statutory and branch-level audits, its new President, M Devaraja Reddy, said.
Reddy, who assumed office on Friday after emerging victorious in the institut...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 3380
|
|
Guidance Note on Audit of Banks released by Auditing and Assurance Standards Board - ICAI
Posted Date : 15-Feb-2016 , 08:00:27 am | Posted By CASANSAAR
The Auditing and Assurance Standards Board of the Institute of Chartered Accountants of India (ICAI) has today issued the Guidance Note on Audit of Banks 2016 edition. For the benefit of members, complete text of the Guidance Note and the contents of accompanying CD can be downloaded at:
...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 1300
|
|
FTIL- NSEL merger: MCA says 96% objections Orchestrated
Posted Date : 15-Feb-2016 , 07:46:43 am | Posted By CASANSAAR
As a face-off continues between Jignesh Shah-led FTIL and Corporate Affairs Ministry over NSEL merger, the government in its final order has said that over 96 per cent of the objections received on the proposed amalgamation prima-facie were “orchestrated and concerted”.
In a first-e...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 900
|
|
Taxman gets more teeth to track non-filers of ITRs
Posted Date : 15-Feb-2016 , 07:41:45 am | Posted By CASANSAAR
Aimed at further arming the taxman to go after those who do not file their Income Tax Returns (ITRs), a new database of multiple addresses of such erring assessees has been set up by the department.
Under the special drive called the ‘Non Filers Management System’ (NMS), the departm...
Continue Reading...
Category :
ITR |
Comments :
0 | Hits : 1466
|
|
CA Devraja Reddy & CA Nilesh Vikamsey elected as President & Vice President of ICAI
Posted Date : 12-Feb-2016 , 04:05:26 pm | Posted By CASANSAAR
CASANSAAR Congratulate CA M. Devaraja Reddy & CA Nilesh Vikamsey for being elected as President & Vice President of ICAI.
...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 1248
|
|
CS Dipti Sarna, Missing Since Wednesday, Found
Posted Date : 12-Feb-2016 , 09:16:13 am | Posted By CASANSAAR
CS Dipti Sarna, who went missing near Delhi on her way home from work on Wednesday, has been found and is back with her family.
The police said Dipti called this morning to say she is safe and was on a train from Haryana's Panipat to Delhi. Her father and brother, who went to the railway stat...
Continue Reading...
Category :
ICSI |
Comments :
0 | Hits : 2806
|
|
Jayant Sinha urged CAs to help the Govt in collecting more Taxes
Posted Date : 12-Feb-2016 , 08:11:17 am | Posted By CASANSAAR
India is a “lightly taxed” nation, Minister of State for Finance Jayant Sinha said today, urging CAs to help the government collect due taxes and raise the tax-GDP ratio to 20 per cent.
Along with tax officers, chartered accountants too have a responsibility to ensure that due taxes...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1324
|
|
RBI invites applications for regularisation of declared wealth
Posted Date : 12-Feb-2016 , 08:03:24 am | Posted By CASANSAAR
Reserve Bank has said that those who have declared unaccounted overseas assets under the black money law should file application with its central office for regularisation of declared wealth. RBI, in a statement issued in Mumbai, said a person resident in India who has declared any asset under the B...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 971
|
|
Auditors to disclose specific info on corporate loan defaults
Posted Date : 11-Feb-2016 , 07:32:54 am | Posted By CASANSAAR
Auditors might soon have to mention specific details about loan defaults by a company, including the amount and period, in their reports amid larger efforts being made to curb corporate misdoings.
The proposal from the Corporate Affairs Ministry, which is implementing the Companies Act, als...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 1477
|
|
CBDT gets 11th Chairman in just 5 years
Posted Date : 09-Feb-2016 , 07:56:43 am | Posted By CASANSAAR
Right in the midst of budget preparations, Atulesh Jindal took over as the chairman of the Central Board of Direct Taxes or CBDT last week after his predecessor A.K. Jain retired on 31 January.
Jindal became the 11th chairperson to be appointed to helm the tax department in just over five years...
Continue Reading...
Category :
CBDT |
Comments :
0 | Hits : 1366
|
|
27 PSU banks write off 1.14 lakh cr bad debts during 2012-15
Posted Date : 08-Feb-2016 , 09:42:11 pm | Posted By CASANSAAR
A whopping Rs 1.14 lakh crore of bad loans have been written off by 27 public sector banks (PSBs) during FY 2012-15, with the last fiscal alone witnessing a steep 53% rise in write-offs as part of the balance sheet clean-up.
For the fiscal ended March 2015, public sector banks have writ...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 931
|
|
SEBI scans Facebook accounts in insider trading case
Posted Date : 08-Feb-2016 , 08:15:15 am | Posted By CASANSAAR
To catch manipulators, markets regulator Securities and Exchange Board of India (Sebi) has begun looking into social media accounts of suspected persons, with ‘mutual friends on Facebook’ being cited as evidence for the first time in an insider tr...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 996
|
|
India has more than 15 lakh registered companies but only 10.7 lakh of them were Active - MCA
Posted Date : 08-Feb-2016 , 08:12:50 am | Posted By CASANSAAR
The country has more than 15 lakh registered companies but only 10.7 lakh of them were active at the end of 2015, according to official data.
Against the backdrop of the government working on ways to improve the ease of doing business, the total number of companies registered in the country...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 1069
|
|
CBDT asked Income Tax Dept to Redress taxpayers' grievances in 2 months
Posted Date : 08-Feb-2016 , 08:06:47 am | Posted By CASANSAAR
Terming as “unsatisfactory” the current pace of taxpayers’ grievance redressal process, the Central Board of Direct Taxes (CBDT) has asked the Income Tax (I-T) department to resolve these complaints within two months.
In a urgent missive to all regional heads...
Continue Reading...
Category :
CBDT |
Comments :
0 | Hits : 1126
|
|
Income tax deputy commissioner held for bribery
Posted Date : 08-Feb-2016 , 08:02:52 am | Posted By CASANSAAR
The Central Bureau of Investigation (CBI) on Sunday arrested Deputy Commissioner of Income Tax Nitin Garg and one other in a bribery case of Rs. two lakh from Sirsa.
A case was registered on a complaint. The Complainant (a proprietor of a private firm based at Sirsa) alleged...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1385
|
|
Forensic audit must for all bad loans, Parliament Panel to RBI
Posted Date : 07-Feb-2016 , 09:45:39 am | Posted By CASANSAAR
Cautioning that the rising trend of non performing assets (NPAs) with banks has “the potential to damage the growth story”, the Finance Standing Committee of Parliament has called for immediate forensic audit of all restructured loans that had turned into bad debts.
Forensic audit i...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1419
|
|
Manner of Signing of Certificates by Chartered Accountants - ICAI
Posted Date : 06-Feb-2016 , 07:34:03 am | Posted By CASANSAAR
The Council of the Institute of Chartered Accountants of India (ICAI), at its 349th meeting held on 17th and 18th January, 2016 considered an issue relating to manner of signing of certificates by Chartered Accountants. The Council noted that presently different practices were in vogue in respect of...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 2565
|
|
RBI gets award for innovation in XBRL reporting
Posted Date : 05-Feb-2016 , 09:36:35 pm | Posted By CASANSAAR
RBI today said it has got recognition for its efforts to improve regulatory reporting and has been given the XBRL International Award for Excellence.
"The XBRL International, the global custodian of the eXtensible Business Reporting Language (XBRL) standard awarded the 'XBRL Intern...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 833
|
|
Steps taken by Income Tax Department for safeguarding taxpayers from Phishing emails
Posted Date : 05-Feb-2016 , 09:28:15 pm | Posted By CASANSAAR
The Income Tax Department has been at the forefront of using technology in implementing its –e-Governance initiatives. Most of its routine communication to taxpayers is through email and SMS. Therefore, the Department is very sensitive and alert to attempts made by fraudsters to spoof the Depa...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 839
|
|
Engineer sends Kejriwal Rs 364 to buy a pair of shoes
Posted Date : 05-Feb-2016 , 09:06:45 pm | Posted By CASANSAAR
An engineer-turned-businessman from Visakhapatnam has sent Delhi Chief Minister Arvind Kejriwal Rs 364 to buy a pair of formal shoes.
Reason--The businessman Sumit Agrawal says he was "deeply aggrieved" to find Kejriwal wearing sandals during a state banquet hosted by President Pranab M...
Continue Reading...
Category :
General |
Comments :
1 | Hits : 1233
|
|
CBDT notifies procedure for email communication between taxman, taxpayer
Posted Date : 04-Feb-2016 , 11:27:04 pm | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has notified the format and procedure for the taxman and taxpayers to usher in an ambitious pilot project of using emails as the new mode of communication between the two sides, as part of the government’s bid to reduce grievances of the tax-paying publ...
Continue Reading...
Category :
CBDT |
Comments :
0 | Hits : 1745
|
|
Official Youtube Channel of the Ministry of Finance Launched by FM
Posted Date : 04-Feb-2016 , 11:17:36 pm | Posted By CASANSAAR
Finance Minister Shri Arun Jaitley said that there are lot of announcements and explanations from time to time by the Ministry of Finance with regard to Indian economy which is continuously debated in public. He said therefore there is a need for a platform where this entire material should be made ...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 942
|
|
Budget session from Feb 23; Rail Budget on 25th; General Budget on 29th
Posted Date : 04-Feb-2016 , 11:15:11 pm | Posted By CASANSAAR
The Budget Session of Parliament will commence on 23rd of this month. Talking to reporters after the meeting of Cabinet Committee on Parliamentary Affairs, Union minister Venkaiah Naidu said, Rail Budget to be presented on 25th, economic survey on 26th and general budget on 29th of February.
The ...
Continue Reading...
Category :
Budget |
Comments :
0 | Hits : 856
|
|
Don't pay Taxes If Government fails to curb Corruption - Bombay High Court
Posted Date : 04-Feb-2016 , 08:06:13 am | Posted By CASANSAAR
Expressing anguish over growing corruption in government machinery and corporations, the Nagpur bench of Bombay High Court said that it's high time citizens come together to fight this menace and can refuse to pay taxes if this "hydra-headed monster" is not eliminated.
The court als...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1874
|
|
Govt to push ahead with NFRA despite stiff resistance from ICAI
Posted Date : 04-Feb-2016 , 07:59:12 am | Posted By CASANSAAR
Discounting the stiff opposition of The Institute of Chartered Accountants of India (ICAI), a government panel has recommended the formation of a new regulatory authority, National Financial Reporting Authority (NFRA), as early as possible.
“Major economies of the world have already establi...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 1582
|
|
RBI relaxes FDI norms to boost start-ups
Posted Date : 03-Feb-2016 , 07:57:19 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Tuesday relaxed several rules including foreign direct investment norms to boost start-up activity in the country.
To begin with, start-ups are allowed to receive foreign venture capital investment irrespective of the sector in which they operate. The new norm...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 966
|
|
Govt. sets up Tax Policy Council headed by Finance Minister
Posted Date : 03-Feb-2016 , 07:53:03 pm | Posted By CASANSAAR
The Government said on Tuesday it has created a Tax Policy Research Unit (TPRU) and Tax Policy Council to be chaired by the Union Finance Minister with nine other members including Minister of State for Finance, Niti Aayog Vice Chairman, Commerce and Industry Minister Revenue Secretary and the Chief...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 698
|
|
Mrs. Aruna Sethi (ICoAS 1985) appointed as head of Indian Cost Accounting Service
Posted Date : 03-Feb-2016 , 07:50:53 pm | Posted By CASANSAAR
Mrs. Aruna Sethi (ICoAS 1985), Principal Adviser (Cost), took over the charge of Indian Cost Accounts Service (ICoAS) as head on 1st February, 2016. She is the first lady ICoAS officer who has achieved this laurel. She has earlier held important portfolios in Government of India including Ministry o...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 788
|
|
Inviting Suggestions on the drafted Background Material of Certificate Course on Financial Markets and Securities Laws - ICAI
Posted Date : 03-Feb-2016 , 07:49:52 pm | Posted By CASANSAAR
Committee on Financial Markets and Investors Protection’ (CFMIP) of ICAI is launching a new Certificate Course on Financial Markets and Securities Laws. Committee has restructured the course curriculum and developed a drafted Background Material on Financial Markets and Securities Laws course....
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 812
|
|
|
