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...
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Income Tax |
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0 | Hits : 857
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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...
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General |
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1 | Hits : 1243
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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...
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CBDT |
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0 | Hits : 1751
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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 ...
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Income Tax |
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0 | Hits : 953
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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 ...
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Budget |
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0 | Hits : 864
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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...
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Category :
Income Tax |
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0 | Hits : 1911
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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...
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ICAI |
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0 | Hits : 1598
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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...
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RBI |
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0 | Hits : 979
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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...
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Category :
Income Tax |
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0 | Hits : 710
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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...
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Category :
Auditing |
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0 | Hits : 799
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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....
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ICAI |
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0 | Hits : 823
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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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Category :
Income Tax |
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0 | Hits : 2478
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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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0 | Hits : 908
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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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Category :
Income Tax |
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0 | Hits : 1375
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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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0 | Hits : 830
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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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0 | Hits : 1398
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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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Category :
Income Tax |
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0 | Hits : 2163
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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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0 | Hits : 1939
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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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0 | Hits : 1702
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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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Category :
Income Tax |
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0 | Hits : 975
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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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0 | Hits : 1336
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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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Category :
Banking |
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0 | Hits : 1517
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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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Category :
International Business |
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0 | Hits : 830
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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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0 | Hits : 808
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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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0 | Hits : 1833
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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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Category :
Auditing |
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0 | Hits : 1479
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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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Category :
CA Results |
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0 | Hits : 938
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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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Category :
Income Tax |
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0 | Hits : 839
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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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0 | Hits : 1467
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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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0 | Hits : 1399
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