Pass Percentage & Toppers of of CA IPC November, 2015 Exams
Posted Date : 01-Feb-2016 , 10:39:51 pm | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) today announced the result of Chartered Accountants Intermediate Examination (IPC) held in November, 2015.
The top three rank holders on all India basis of Chartered Accountants Intermediate (IPC) Examination held in Nov, 2015 are from Kathma...
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Income Tax |
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RBI asks Banks to file FDI related forms online from Feb 8
Posted Date : 01-Feb-2016 , 10:34:28 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Monday asked banks to file forms related to foreign direct investment (FDI) only online on the e-Biz portal from February 8.
With a view to "promoting ease of reporting" of such transactions, RBI, under the e-Biz project of the government, has enable...
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RBI |
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Income Tax Department Lists Norms for Faster Tax Refunds
Posted Date : 01-Feb-2016 , 10:29:45 pm | Posted By CASANSAAR
The CBDT has issued guidelines for expeditious tax refund of up to Rs. 5,000 in cases where the department wants to adjust the refund with a pending demand, which has been contested by the assessee.
The guidelines would help further streamline the process of refunds. Between mid-April a...
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Income Tax |
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CBDT Signs Two Bilateral Advance Pricing Agreements (APAs) With United Kingdom
Posted Date : 01-Feb-2016 , 10:27:31 pm | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has entered into two bilateral Advance Pricing Agreements (APAs) with United Kingdom on 29th January, 2016. With this signing, CBDT has concluded three bilateral APAs the first one being a bilateral APA signed with Japan in December, 2014.
The two bi...
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CBDT |
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Companies Law Committee Report on the issues arising out of implementation of the Companies Act, 2013
Posted Date : 01-Feb-2016 , 10:25:20 pm | Posted By CASANSAAR
The Companies Law Committee was constituted in June 2015 for examining and making recommendations on the issues arising out of implementation of the Companies Act, 2013. The Committee submitted its report to the Government today.
2. The Commit...
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Companies Act |
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Female can be Karta of a Family - Delhi High Court
Posted Date : 01-Feb-2016 , 08:15:55 am | Posted By CASANSAAR
The eldest female member of a family can be its "Karta", the Delhi high court has ruled in a landmark verdict. A unique position carved out by Hindu customs and ancient texts, "Karta" denotes managership of a joint family and is traditionally inherited by men.
"If a male ...
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Income Tax |
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RBI directs all Banks to conduct thorough internal audit
Posted Date : 01-Feb-2016 , 08:09:39 am | Posted By CASANSAAR
The Reserve Bank of India has asked all public and private sector banks to conduct a thorough internal audit and submit a report before their respective audit committees. The summary findings are also to be forwarded to the Reserve Bank.
The move forms part of the ...
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RBI |
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ICAI seeks Govt nod for completely revamped course curriculum
Posted Date : 31-Jan-2016 , 01:12:15 pm | Posted By CASANSAAR
Chartered accountants' body ICAI is awaiting an in-principle approval from the government for its "completely revamped" course curriculum that is in tune with current economic landscape.
The curriculum for the chartered accountants programme i...
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ICAI |
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Put new accounting standard on hold - Tax committee
Posted Date : 31-Jan-2016 , 01:07:53 pm | Posted By CASANSAAR
The ghost of MAT (minimum alternative tax) has reemerged as tax simplification committee, headed by justice Easwar, wants to hold new accounting standard rules sighting adverse and uncertain impact on MAT. But the government body, which has shaped new accounting norms, has refuted this appre...
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Income Tax |
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ICAI President's Message - February 2016
Posted Date : 29-Jan-2016 , 10:38:26 pm | Posted By CASANSAAR
Dear Friends,
I started my journey in the active service of profession in the year 1991 as an office bearer of Indore Branch of CIRC of ICAI. I am happy that after 24 years, the profession gave me the opportunity to serve as the 63rd President of the ICAI, in the year 2015. Earlier, I was e...
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ICAI |
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Bank of Japan introduces negative interest rate policy
Posted Date : 29-Jan-2016 , 10:13:23 pm | Posted By CASANSAAR
Japan's central bank shocked markets today with plans to effectively charge lenders to park their cash with it, ramping up a long-running battle to kickstart the world's number three economy.
The unprecedented decision to adopt a below-zero interest rate policy is the Bank of Japan's ...
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Banking |
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Foreign Investors can buy up to 49% in PC Jeweller: RBI
Posted Date : 29-Jan-2016 , 09:51:48 am | Posted By CASANSAAR
Foreign institutional investors (FIIs) can now invest up to 49 per cent of the paid-up capital of PC Jeweller, the Reserve Bank of India said on Thursday.
The RBI notified (under FEMA 1999) that FIIs/registered foreign portfolio investors (RFPIs) can now invest up to 49 per cent in PC Jeweller Lt...
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International Business |
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CBDT resolves 100 transfer pricing rows with US firms
Posted Date : 29-Jan-2016 , 09:40:52 am | Posted By CASANSAAR
Tax officials have resolved over 100 transfer pricing disputes with American multinational companies using the mutual agreement procedures (MAP) as the Centre tries to create an environment of tax certainty and encourage foreign companies to do business in India.
“More than 100 cases have...
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CBDT |
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ITR e-Filing DSC management utility
Posted Date : 28-Jan-2016 , 08:04:54 am | Posted By CASANSAAR
Taxpayers have recently reported that they have faced problems in using the Digital Signature Certificate for Signing through browser at the time of uploading their Income Tax Return. This is because the latest browser versions have started disabling the standard way in which browser support plu...
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ITR |
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RBI shortlists 5 companies for audit and risk monitoring mechanism
Posted Date : 28-Jan-2016 , 07:59:20 am | Posted By CASANSAAR
The Reserve Bank plans to procure an Audit Management and Risk Monitoring System (AMRMS) for the central bank from five "potential shortlisted" solution providers, including PwC and Quadrant 4 Software Solutions.
The RBI said it has decided to implement AMRMS to carry out various au...
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Auditing |
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CA IPCC Nov. 2015 Exam Result will be declared on 1st Feb.2016
Posted Date : 28-Jan-2016 , 07:44:53 am | Posted By CASANSAAR
The result of the Chartered Accountants Intermediate (Integrated Professional Competence) Examination held in November, 2015 is likely to be declared on Monday, the 1st February, 2016 around 4.00 P.M. and the same as well as the merit list (candidates securing a minimum of 55% and above marks and up...
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CA Results |
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Corporate tax avoidance deal signed by 31 OECD members
Posted Date : 28-Jan-2016 , 07:26:35 am | Posted By CASANSAAR
Rules to stop companies using complex tax arrangements to avoid paying corporate tax have been agreed by 31 Organisation for Economic Co-operation and Development (OECD) members. They will make it harder for firms to hide money in tax havens or play one country's tax authority against another. F...
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Income Tax |
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CBDT develops new software for filing digitally signed income tax returns
Posted Date : 27-Jan-2016 , 08:34:15 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has developed a new software after taxpayers complained of problems in filing income tax (I-T) returns with digital signatures.
Taxpayers had recently reported that they faced issues in using digital signature certificate at the time of uploading their I...
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CBDT |
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Violations among auditors more of an EXCEPTION - ICAI President
Posted Date : 26-Jan-2016 , 09:13:24 pm | Posted By CASANSAAR
Instances of violations committed by auditors are more of an "exception" and strict action is initiated against those found flouting the norms, according to ICAI President Manoj Fadnis.
The Institute of Chartered Accountants of India (ICAI) has extensive powers to take action agai...
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ICAI |
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Tea seller cracks CA, Appointed as brand ambassador of Maharashtra government's scheme
Posted Date : 26-Jan-2016 , 09:09:08 pm | Posted By CASANSAAR
The Indian Institute of Chartered Accountant (ICAI) had declared the results of the Chartered Accountants (CA) final examination and Common Proficiency Test (CPT) on January 17.
A 28 -year-old local tea seller Somnath Giram, who lives in a small village in Solapur district and sells tea a...
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CA |
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FM calls for simpler tax regime to minimize possibility of excessive litigation
Posted Date : 25-Jan-2016 , 08:14:35 pm | Posted By CASANSAAR
Finance Minister Arun Jaitley on Monday called for simpler tax regime to minimize the possibility of excessive litigation.
Speaking at the platinum jubilee celebration of income tax appellate tribunal, ITAT in New Delhi Monday, Mr Jaitley said, once a simpler tax system comes into place, there wi...
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Income Tax |
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List of Padma Awards 2016
Posted Date : 25-Jan-2016 , 08:06:59 pm | Posted By CASANSAAR
Padma Awards - one of the highest civilian Awards of the country, are conferred in three categories, namely, Padma Vibhushan, Padma Bhushan and Padma Shri. The Awards are given in various disciplines/ fields of activities, viz.- art, social work, public affairs, science and engineering, trade and in...
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General |
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Ministry of Corporate Affairs sets up Central Registration Centre (CRC) on Republic Day
Posted Date : 25-Jan-2016 , 08:02:48 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs has taken the initiative in Government Process Re-engineering (GPR) and launched the Central Registration Centre (CRC), on the occasion of Republic Day 2016, with the specific objective of providing speedy incorporation related services within stipulated time frames...
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MCA |
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Refunds for ITR filed online to be further hastened: Official
Posted Date : 24-Jan-2016 , 06:33:00 pm | Posted By CASANSAAR
India's Income Tax department will further hasten the speed of issuing refunds to taxpayers who e-file their returns as it's Bengaluru-based CPC has adopted a variety of smart business procedures in the recent past, a senior official said.
The official involved in the operations of ...
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Income Tax |
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CA Piyush Goyal may be the next Finance Minister
Posted Date : 22-Jan-2016 , 07:27:13 pm | Posted By CASANSAAR
Prime Minister Narendra Modi may go in for a reshuffle in his cabinet and assign coal minister Piyush Goyal to take the finance portfolio and move finance minister Arun Jaitely to defence.
“Finance Minister Arun Jaitley, responsible for delivering the Modi message to international investo...
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Income Tax |
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Announcement regarding the Eligibility Requirement of ISA-AT Exam - ICAI
Posted Date : 22-Jan-2016 , 07:09:27 pm | Posted By CASANSAAR
The matter of eligibility requirement for the Information System Audit (ISA) Assessment Test was considered in the 349th Meeting of the Council held on 17th and 18th January 2016 and decided as under:-
1) It has been decided to withdraw the announcement dated 4th September 2015 of the Commi...
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ICAI |
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Central Board of Direct Taxes (CBDT) Signs 7 more Unilateral Advance Pricing Agreements (APAS)
Posted Date : 22-Jan-2016 , 06:55:42 pm | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) entered into 7 more unilateral Advance Pricing Agreements (APAs) with taxpayers today. This takes the tally of APAs signed so far to 39 (38 unilateral and one bilateral). In the current fiscal year, which is the third year of APA programme, 30 agreements have...
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CBDT |
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Atulesh Jindal appointed as new CBDT Chairman
Posted Date : 22-Jan-2016 , 09:58:41 am | Posted By CASANSAAR
Senior revenue service officer Atulesh Jindal appointed as Chairman of Central Board of Direct Taxes (CBDT), the apex policy making body of Income Tax department.
He will succeed A K Jain, who completes his term this month-end.
The Appointments Committee of the Cabinet has app...
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CBDT |
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Big Four earn bulk of audit fee from NSE listed Companies
Posted Date : 22-Jan-2016 , 08:02:36 am | Posted By CASANSAAR
The ‘Big Four’ accounting firms and their associates handled a high of 378 audit assignments or 26 per cent of the 1,451 companies listed on the NSE, during 2014-15.
An analysis based on annual reports of companies for that financial year showed these large groups — Deloit...
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Auditing |
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RBI allows pre-mature withdrawal in gold monetisation scheme
Posted Date : 22-Jan-2016 , 07:51:58 am | Posted By CASANSAAR
In an effort to make the Gold Monetisation Scheme more customer-friendly, the RBI today said depositors will be able to withdraw medium-term (5-7 year) and long-term government deposits (12-15 years) pre-maturely after the minimum lock-in period, though with a penalty.
The Reserve Bank today ma...
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RBI |
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