Government Approves Seven (07) Proposals of Foreign Direct Investment (FDI) Amounting to Rs. 5240.35 Crore Approx
Posted Date : 12-Dec-2015 , 08:57:12 am | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its 227th meeting held on 9thNovember 2015, the Government has approved Seven (07) proposals of Foreign Direct Investment (FDI) amounting to Rs. 5240.35 crore.
The following Seven (07) proposals have bee...
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International Business |
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MCA to soon introduce a new version of Form INC29
Posted Date : 12-Dec-2015 , 08:56:16 am | Posted By CASANSAAR
Time taken for registration of a company cut by 50% as a part of ‘ease-of-doing business’ effort by the Ministry of Corporate Affairs; Ministry to soon introduce a new version of Form INC29 incorporating suggestions received from the stakeholders allowing up to 5 directors to be appointe...
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MCA |
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National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT)
Posted Date : 12-Dec-2015 , 08:52:30 am | Posted By CASANSAAR
The provisions of the Companies Act, 2013 regarding constitution of National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) had been challenged in the Supreme Court and the matter was decided by the Hon’ble Court by judgment dated 14th May, 2015. The ...
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Companies Act |
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India, Japan sign protocol to amend double taxation avoidance
Posted Date : 11-Dec-2015 , 06:04:59 pm | Posted By CASANSAAR
India and Japan today signed a Protocol for amending the existing convention for avoidance of double taxation and prevention of fiscal evasion with respect to income taxes. Revenue Secretary Hasmukh Adhia signed the protocol on behalf of India while Kenji Hiramatsu, Ambassador of Japan signed on beh...
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International Taxation |
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ICAI Election 2015 - Fresh dates of counting of Votes
Posted Date : 11-Dec-2015 , 08:55:21 am | Posted By CASANSAAR
As you are aware that due to unprecedented rain in Tamil Nadu, the polling in certain Polling Booths in Southern Region was postponed. The 18th and 19th December, 2015 have been notified as fresh date/s of polling for Chennai City and 19th December, 2015 for other places where p...
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ICAI Election |
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Sebi-registered FPIs get I-T filing relief
Posted Date : 11-Dec-2015 , 08:24:43 am | Posted By CASANSAAR
After giving a relief to foreign portfolio investors over the issue of minimum alternate tax (MAT), the Income Tax Department on Thursday gave them more reason to cheer over the filing of the so-called defective income tax returns. The Central Board of Direct Taxes (CBDT) clarified that incomplete o...
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SEBI |
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Clarification regarding Notices of defective returns issued to FII/FPIs
Posted Date : 11-Dec-2015 , 08:14:50 am | Posted By CASANSAAR
Notices of defective returns were issued under Section 139(9) of the Income-tax Act to Foreign Institutional Investors/Foreign Portfolio Investors (FIIs/FPIs) in cases where Balance Sheet and P&L account were not filled.
In order to overcome this difficulty, it is clarified that such returns ...
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Income Tax |
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New facility of pre-filling TDS data while submitting online rectification
Posted Date : 11-Dec-2015 , 08:12:59 am | Posted By CASANSAAR
Central Board of Direct Taxes (CBDT) has simplified the process of online rectification of incorrect TDS details filed in the Income Tax Return.
Taxpayers were required to fill-in complete details of the entire TDS schedule while applying for rectification on the e-filing portal of the Income-tax...
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TDS |
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I-Tax deptt warns taxpayers against fraudulent emails
Posted Date : 10-Dec-2015 , 08:49:28 am | Posted By CASANSAAR
The Income Tax Department today warned tax payers against phishing/fraudulent refund emails saying it does not seek details of personal information like PIN through e-mail.
"The Income Tax Department does not send e-mail requesting your PIN numbers, passwords or similar access information fo...
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Category :
Income Tax |
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Full Report on the Revenue Neutral Rate and Structure of Rates for the Goods and Services Tax (GST)
Posted Date : 09-Dec-2015 , 07:53:15 pm | Posted By CASANSAAR
Full Report on the Revenue Neutral Rate and Structure of Rates for the Goods and Services Tax (GST) by the Committee headed by the Chief Economic Adviser (CEA), Dr Arvind Subramanian is attached here with and is also available on the Ministry of Finance web-site : finmin.nic.in.
...
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Category :
GST |
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Govt initiates SETU programme to support start-up businesses
Posted Date : 09-Dec-2015 , 07:50:26 pm | Posted By CASANSAAR
The government has set up a mechanism known as SETU to support all aspects of start-up business and other self-employment activities, Lok Sabha was informed on Wednesday.
Union minister for skill development Rajiv Pratap Rudy said the National Policy for Skill Development and Entrepreneurs envi...
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Category :
General |
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Lok Sabha passes Indian Trusts (Amendment) Bill, 2015
Posted Date : 09-Dec-2015 , 07:43:41 pm | Posted By CASANSAAR
The Lok Sabha on Wednesday passed the Indian Trusts(Amendment) Bill, 2015, amid chaos as the opposition Congress created ruckus in the house over the National Herald case involving Sonia and Rahul Gandhi for the second consecutive day.
The bill, ...
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General |
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CBDT switching to computer-assisted tax scrutiny - FM
Posted Date : 09-Dec-2015 , 09:34:00 am | Posted By CASANSAAR
The process of selecting tax cases for scrutiny on a random basis is being replaced by a system-based centralised approach, the government today said.
"It may be clarified that for the past several years, the process of selection of cases for scrutiny on a random basis has been dispens...
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CBDT |
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ICSI Request for recognition of CS under proposed GST Law
Posted Date : 09-Dec-2015 , 09:18:06 am | Posted By CASANSAAR
THE INSTITUTE OF Company Secretaries of India
IN PURSUIT OF PROFESSIONAL EXCELLENCE
Statutory body under an Act of Parliament
404:4: 2015: GST December 3, 2015
Shri Satish Chandra
Member Secretary
Empowered Committee of State Finance Ministers
Delhi Secr...
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Category :
GST |
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FM pitches for early passage of GST Bill
Posted Date : 09-Dec-2015 , 09:13:45 am | Posted By CASANSAAR
Pitching for early passage of the GST Bill in the Rajya Sabha, Indian Finance Minister Arun Jaitley on Tuesday said efforts to create hurdle will amount to damaging the country.
The Constitution Amendment Bill to roll out Goods and Services Tax is stuck in the Rajya Sabha due to stiff opposition ...
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Category :
GST |
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Deliberations Between ICAI, ICSI and ICoAI on Multi-Disciplinary Partnership (MDP) Firms
Posted Date : 09-Dec-2015 , 09:10:51 am | Posted By CASANSAAR
The modalities of setting up Multi-Disciplinary Partnership (MDPs) of their members are under discussion amongst the Institute of Chartered Accountants of India (ICAI), The Institute of Company Secretaries of India (ICSI) and The Institute of Cost Accountants of India (ICAoI).
The councils ...
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Category :
ICAI |
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Sebi issues show-cause notice to RBL bank
Posted Date : 08-Dec-2015 , 07:52:34 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) has issued a show-cause notice to RBL Bank over possible rule violations, which could hinder the 72-year-old lender's plans to raise an estimated Rs 1,450 crore though an initial public offering (IPO).
The bank can go ahead with the IPO ...
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SEBI |
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CBDT notifies emails as new communication mode with taxpayers
Posted Date : 07-Dec-2015 , 10:17:08 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has notified an amendment in the Income Tax Act that would allow the department to serve notices to taxpayers through their registered emails and would also make it legitimate for assessees to file their responses and authenticated documents through electroni...
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CBDT |
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CEA-led panel recommends standard rate for GST at 17-18 %
Posted Date : 06-Dec-2015 , 06:52:19 pm | Posted By CASANSAAR
The Chief Economic Advisor-led panel has recommended standard rate for Goods and Services Tax at 17 to 18 per cent, the rate at which most products would likely be taxed.
In its report submitted to Finance Minister Arun Jaitley, the committee has excluded real estate, electricity and alcoho...
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Category :
GST |
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Government Orders Quick Issue of Income Tax Refunds Under Rs. 50,000
Posted Date : 06-Dec-2015 , 06:13:47 pm | Posted By CASANSAAR
In good news for lakhs of taxpayers awaiting their IT refunds, the government has directed the taxman to "expeditiously" settle claims involving less than Rs. 50,000.
According to government data, over Rs. 5,400 crore is locked in pending refunds, which has become a ...
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Category :
Income Tax |
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RBI bars 56 NBFCs from conducting business
Posted Date : 06-Dec-2015 , 10:16:29 am | Posted By CASANSAAR
The Reserve Bank of India has cancelled the certificate of registration of 56 non-banking finance companies (NBFCs), including ABNL, Future Ventures India and Bajaj Finserve.
Following the cancellation of registration certificate, these companies cannot transact in the business of an NBFC as la...
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RBI |
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Failure to pay TDS collected can attract 7-yr jail term: CBDT
Posted Date : 06-Dec-2015 , 10:13:01 am | Posted By CASANSAAR
Employers failing to pay the Government the tax deducted at source (TDS) on salaries of their employees can be jailed for up to seven years, the CBDT has said.
Failure to deduct income tax on salaries of employees or defaulting in payment of the same to the government will be liable to a ...
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Category :
Income Tax |
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Govt extends date for excise, service tax payment in TN
Posted Date : 06-Dec-2015 , 10:08:45 am | Posted By CASANSAAR
The Revenue Department has extended the last date for payment of excise and service taxes in Tamil Nadu to December 20 in view of unprecedented rains which have disrupted normal life in Chennai and other areas.
It has also extended the date for payment of tax d...
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Category :
Service Tax |
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Support for CASANSAAR, Vote to Vivek Khurana (NIRC B.N.40)
Posted Date : 03-Dec-2015 , 08:02:05 am | Posted By CASANSAAR
CA.VIVEK KHURANA (Founder of CASANSAAR) and his team are serving for CA profession from last Six years and trying to do there best with the medium of CASANSAAR.COM
Now CA.VIVEK KHURANA has filed Nomination for NIRC Elections of ICAI. Its our humble request to all of you that please keep Sup...
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Category :
ICAI Election |
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Government invites applications for the post of CEO for National Investment and Infrastructure Fund (NIIF)
Posted Date : 03-Dec-2015 , 07:36:04 am | Posted By CASANSAAR
National Investment and Infrastructure Fund (NIIF) has been set-up by the Government of India, with an expected initial corpus of Rs. 40, 000 crores. The Fund is set- up as a Fund of Funds (Category II Alternate Investment Fund) with a proposed series of funds. The Fund is looking to app...
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Category :
General |
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Income tax department considering peer review before tax assessments
Posted Date : 03-Dec-2015 , 07:28:52 am | Posted By CASANSAAR
Aiming to make it easier to pay taxes and improve quality of tax orders, the government has set up a committee to look into possibility of a system of peer review before assessment.
To a query on whether government feels peer review assessments can improve quality of tax orders, as recommen...
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Category :
Income Tax |
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0 | Hits : 1296
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FinMin orders forensic probe into Rs 6k-cr BoB forex scam
Posted Date : 03-Dec-2015 , 07:02:43 am | Posted By CASANSAAR
A forensic probe has been ordered into the alleged irregularities in outward foreign remittances to the tune of about Rs 6,000 crore from a Bank of Baroda branch, Parliament was informed.
In a written reply in Rajya Sabha yesterday, Finance Minister Arun Jaitley said CBI and Enforcement Directora...
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Category :
Auditing |
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Independent Directors in PSUs
Posted Date : 03-Dec-2015 , 06:56:51 am | Posted By CASANSAAR
Section 149(4) of Companies Act, 2013 mandates appointment of independent directors by listed companies. Further, as per Rule 4 of Companies (Appointment and Qualifications of Directors) Rules, 2014 the following class of companies shall have atleast two independent directors:-
• the P...
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Category :
Companies Act |
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Black money: Govt gets Rs 17 cr tax and penalty till Nov 26
Posted Date : 03-Dec-2015 , 06:54:34 am | Posted By CASANSAAR
The government has collected Rs 16.69 crore as taxes and penalty till November 26 from those who have disclosed illegal wealth under the black money compliance window.
Minister of State for Finance Jayant Sinha, in a written reply to a question in the Upper House Rajya Sabha, on Tuesday stated th...
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Category :
Black Money |
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0 | Hits : 1082
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ICAI Election Procedure - How to Cast your Valuable Vote
Posted Date : 02-Dec-2015 , 09:05:05 am | Posted By CASANSAAR
ICAI ELECTION PROCEDURE
Dates of NIRC Election
Delhi & Gurgaon :- 4th & 5th December, 2015
Other Places in NIRC :- 5th December, 2015
Check Polling Booth Details.
http://www.casansaar.com/icaielection.html
Members will get Two ballots at the time of Voting. ...
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Category :
ICAI Election |
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