Income Tax department launches PAN-based litigation management system
Posted Date : 26-Nov-2015 , 08:01:45 am | Posted By CASANSAAR
Aimed to reduce lengthy proceedings and time taken in litigation, the Income Tax department has activated a PAN-based online system which enables the taxman to access cases in their jurisdiction on a click, amongst a building database of over 5 lakh appeals and 1.50 lakh judgements. The new fac...
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Income Tax |
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New dedicated Chapter helpdesk for queries related to members/students based abroad - ICAI
Posted Date : 26-Nov-2015 , 07:36:11 am | Posted By CASANSAAR
24 November 2015
The Institute of Chartered Accountants of India is committed to provide the best services to its members. Considering the same, the International Affairs Committee of the Institute has reactivated its logistic framework through a dedicated email foreigndesk@icai.in at ICAI HO l...
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ICAI |
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CDs are documents, can be considered as evidence under law: SC
Posted Date : 26-Nov-2015 , 07:26:56 am | Posted By CASANSAAR
In a significant ruling, the Supreme Court has allowed compact discs (CDs) to be treated as a document under the law and said that litigants should be allowed to prove or disprove such electronic proof in judicial proceedings.
The apex court, without deciding on the authenticity of a CD in a case...
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General |
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RBI defers issue date of Sovereign Gold Bond to Nov 30
Posted Date : 26-Nov-2015 , 07:25:46 am | Posted By CASANSAAR
The Reserve Bank of India, RBI has shifted the issue date of Sovereign Gold Bond by four days to 30th November to enable their smooth uploading into RBI’s e-Kuber system. The decision has been taken in view of large number of applications being received by the banks and post offices for Sovere...
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RBI |
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Profile, Vision & Mission of CA Vivek Khurana - Ballot No. 40 for NIRC Election
Posted Date : 25-Nov-2015 , 08:53:28 am | Posted By CASANSAAR
Respected Professional Colleagues,
Greetings of the Day!!!
With the grace of almighty God and your continuing support, I have offered my candidature for ensuing election to the NIRC and seek your kind first preference vote and support.
I assure you that I would do my utmost to ach...
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ICAI Election |
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ICAI director finds NSEL auditor guilty of misconduct
Posted Date : 25-Nov-2015 , 08:22:13 am | Posted By CASANSAAR
The director (discipline) of the Institute of Chartered Accountants of India (ICAI), the apex body of chartered accountants, has formed a prima-facie opinion, finding the auditor of the National Spot Exchange (NSEL) guilty of professional misconduct.
The matter has now been taken up by the instit...
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ICAI |
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RBI grants approval for TReDS; NPCI to be central unit for Bharat bill payment
Posted Date : 25-Nov-2015 , 08:19:02 am | Posted By CASANSAAR
Reserve Bank of India (RBI) on Tuesday granted an "in-principle" approval to three companies to set up and operate a new Trade Receivables Discounting System (TReDS) to be formed under the Payment and Settlement System (PSS) Act 2007.
A joint venture between the National Stock Exchange&...
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RBI |
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Income tax department to unveil enhanced and more user-friendly website
Posted Date : 25-Nov-2015 , 08:07:11 am | Posted By CASANSAAR
The Income Tax department will soon upgrade its official web portal and unveil more user-friendly features for taxpayers on the online platform.
Officials said the website--www.incometaxindia.gov.in-- will host easy navigation tools for taxpayers and others so that they can easily do ...
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Income Tax |
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Modi says hopeful of rolling out GST in 2016
Posted Date : 25-Nov-2015 , 07:59:10 am | Posted By CASANSAAR
The government is hopeful of rolling out the goods and services tax (GST) in 2016, Prime Minister Narendra Modi said on Tuesday, and asserted that reforms were happening in a big way and reaching the last mile.
Addressing the India-Singapore Economic Convention, Modi said the government had...
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GST |
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For smooth and quick passage of GST Bill, government reaches out to opposition
Posted Date : 24-Nov-2015 , 08:34:40 am | Posted By CASANSAAR
The government is reaching out to parties in the opposition on the much-delayed goods and services tax — including looking at the possibility of incorporating some of the changes proposed by the Congress — as it seeks to ensure passage of the Constitution amendment b...
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GST |
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FM ask Banks to Get rid of NPAs, clean up balance sheet at earliest
Posted Date : 24-Nov-2015 , 08:29:36 am | Posted By CASANSAAR
Finance Minister Arun Jaitley today said, the government has proactively taken measures to remove problems in stressed sectors and expressed the hope that the bad loans situation in the banking sector will improve for the better . Speaking to media after Quarterly Review Meeting of public sector ban...
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Banking |
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Announcement regarding Non-application of AS 30, AS 31 and AS 32 in the Final Course Paper 1: Financial Reporting - ICAI
Posted Date : 24-Nov-2015 , 08:25:49 am | Posted By CASANSAAR
The entire IAS 39 “Financial Instruments: Recognition and Measurement”, on which AS 30 “Financial Instruments: Recognition and Measurement” was based, has been replaced by IFRS 9 “Financial Instruments”. Therefore, the Government of India opted to notify Ind AS 10...
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ICAI |
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0 | Hits : 1136
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IGL Finance moves contempt petition against CA body
Posted Date : 23-Nov-2015 , 09:55:46 am | Posted By CASANSAAR
Six months after a Delhi High Court order in the matter, National Spot Exchange Limited (NSEL) investor IGL Finance has initiated contempt of court proceedings against the Institute of Chartered Accountants of India (ICAI) and its disciplinary committee for not completing the proceedings in complain...
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ICAI |
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Download CA CPT December 2015 Admit Card
Posted Date : 22-Nov-2015 , 11:04:36 pm | Posted By CASANSAAR
The Institute of Chartered Accountants of India is going to organize the Common Proficiency Test for the selection of eligible candidates to become a Chartered Accountant on Dec 13, 2015. Aspirants those who had successfully applied for the course are now searching for the admit cards. Now for all t...
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CA CPT |
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Members/Firms to furnish PAN details to ICAI - ICAI
Posted Date : 22-Nov-2015 , 10:53:19 pm | Posted By CASANSAAR
ICAI Announcement
In terms of the decision taken by the Council following advice received from the Income Tax Department, the Permanent Account Number (PAN) Card details of the members and firm of chartered accountants are required to be included in the Central Database of the Institute.
The...
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ICAI |
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ITR forms may further simplify, Govt sets up Committee
Posted Date : 22-Nov-2015 , 10:46:44 pm | Posted By CASANSAAR
The government is looking to further simplify forms for filing income tax returns (ITR), to help taxpayers fill them without seeking help from experts, and the Revenue Department has set up a committee in this regard.
The committee will be headed by a Joint Secretary level officer and would inclu...
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ITR |
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FM to review performance of public sector banks
Posted Date : 22-Nov-2015 , 10:39:18 pm | Posted By CASANSAAR
The Finance Minister Arun Jaitley will Monday meet chief executives of public sector banks (PSBs) to review banks' performance during the second quarter this fiscal besides other thrust areas like credit flow and priority sector lending.
This meeting - - probably for the first time--would s...
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Banking |
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Election Manifesto of KHURANA VIVEK - NIRC B. NO. 40
Posted Date : 22-Nov-2015 , 10:05:11 pm | Posted By CASANSAAR
Election Manifesto of KHURANA VIVEK - NIRC B. NO. 40,
Respected Professional Colleagues,
With the grace of almighty God and your continuing support, I have offered my candidature for ensuing election to the NIRC and seek your kind first preference vote and support.
I assure you that I wou...
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Category :
ICAI Election |
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0 | Hits : 1246
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Govt. unveils detailed roadmap to phase out tax exemptions for corporate sector
Posted Date : 21-Nov-2015 , 11:47:42 am | Posted By CASANSAAR
Government has unveiled a detailed roadmap to phase out tax exemptions for the corporate sector and bring down its tax rate from 30 to 25 percent. Finance Ministry said in a release that Profit linked, investment linked and area based deductions will be phased out for both corporate and non-corporat...
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CBDT |
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RBI opens door for banking M&As, allows individuals to own more than 10% in banks
Posted Date : 20-Nov-2015 , 08:40:05 am | Posted By CASANSAAR
The Reserve Bank of India RBI has thrown open the doors for mergers and acquisitions in the banking industry by signaling that it is open to persons owning more than 10 percent stake in a bank.
For the first time in decades the central bank has said that it could permit promoters, or invest...
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RBI |
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Extension of last date for submission of Application Form for financial assistance from CASBF - ICAI
Posted Date : 20-Nov-2015 , 08:32:05 am | Posted By CASANSAAR
The Board of Trustees of The Chartered Accountants’ Students Benevolent Fund has decided to grant financial assistance to 800 students, out of which 400 male and 400 female students, who are currently undergoing articled training in accordance with The Chartered Accountants Regulations, 1988 a...
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Category :
CA Exams |
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Zone-shifting of candidates for 13th December-2015 CPT Exam - ICAI
Posted Date : 20-Nov-2015 , 08:27:27 am | Posted By CASANSAAR
IMPORTANT ANNOUNCEMENT
November 19, 2015
Subject: Zone-shifting of candidates for 13th December - 2015 CPT
Due to paucity of accommodation in certain Zones opted by the candidates in the city of Chennai and Hyderabad some of the candidates have been allotted examinations centres in the ...
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CA Exams |
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Highlights of Recommendations of Seventh Central Pay Commission
Posted Date : 20-Nov-2015 , 08:09:47 am | Posted By CASANSAAR
Recommended Date of implementation: 01.01.2016
Minimum Pay: Based on the Aykroyd formula, the minimum pay in government is recommended to be set at ₹18,000 per month.
Maximum Pay: ₹2,25,000 per month for Apex Scale and ₹2,50,000 per month for Cabinet Secretary and others presently a...
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Category :
Finance |
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CA's employees shot at, robbed of Rs 1cr
Posted Date : 19-Nov-2015 , 07:53:01 am | Posted By CASANSAAR
Two employees of a chartered accountant were shot at and robbed of Rs 1 crore on the way to their office in Shastri Nagar of north Delhi on Wednesday evening. Police said CCTV footage of the area has been recovered to identify the robbers and a team has been formed to nab them.
The incident was r...
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CA |
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0 | Hits : 2077
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17,000 RBI staff to go on mass leave today
Posted Date : 19-Nov-2015 , 07:49:25 am | Posted By CASANSAAR
Around 17,000 employees of the Reserve Bank of India (RBI) will be on “mass casual leave” on November 19 to demand improvement in pensions and to protest against the Union Government’s move to dilute the central bank’s autonomy.
The strike in the form of mass leave is th...
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RBI |
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Shah Rukh’s CA gets ED summons over KKR share case
Posted Date : 19-Nov-2015 , 07:42:03 am | Posted By CASANSAAR
THE Enforcement Directorate (ED) has summoned the chartered accountant (CA) of Bollywood actor Shah Rukh Khan after the latter failed to furnish a satisfactory reply when asked why he adopted a “wrong method” of undervaluing shares of his IPL franchise. The CA’s statement is likely...
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Category :
International Taxation |
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Government Approves Six (6) Proposals of Foreign Direct Investment (FDI) Amounting to Rs. 1810.25 Crore Approximately
Posted Date : 19-Nov-2015 , 07:30:15 am | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its 226th meeting held on 30th October 2015, the Government has approved 6 (six) proposals of Foreign Direct Investment (FDI) amounting to Rs. 1810.25 crore.
The following 6 (six) proposals have bee...
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Category :
Income Tax |
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Good news for taxpayers! Income Tax grievances to be addressed in 2 months
Posted Date : 18-Nov-2015 , 08:30:19 am | Posted By CASANSAAR
Taxpayers facing "high-pitched" assessments or unfair scrutiny by the Income Tax Department can now attempt to get their grievances redressed in a short time before undertaking the arduous litigation route of courts or other appellate mechanisms.
In a maiden initiative...
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Category :
Income Tax |
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0 | Hits : 1096
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Income Tax department honing its strategies for effective searches
Posted Date : 17-Nov-2015 , 08:46:05 am | Posted By CASANSAAR
The investigation wing of Income Tax(IT) department is sharpening its strategies to make search and survey procedures more effective, an official said.
"We are sharpening our strategies to such an extent that non-compliance with the taxation provisions by individuals and companies do not g...
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Category :
Income Tax |
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0 | Hits : 1057
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Government notifies revised all industry rates of Duty Drawback and other Duty Drawback related changes wef 23rd Nov 2015
Posted Date : 17-Nov-2015 , 08:29:18 am | Posted By CASANSAAR
The Central Government has notified the Schedule of revised All Industry Rates of Duty Drawback effective from 23rd November, 2015.
These revised rates are based on average incidence of Customs and Central Excise Duties and Service Tax related with the manufacture of export goods and involv...
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Category :
Excise |
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