Summary of the Recommendations of the Bankruptcy Law Reforms Committee (BLRC)
Posted Date : 05-Nov-2015 , 08:10:53 am | Posted By CASANSAAR
Following is the Summary of the Recommendations of the Bankruptcy Law Reforms Committee (BLRC)
The Report of the BLRC is in two parts:
Rationale and Design/Recommendations;
A comprehensive draft Insolvency and Bankruptcy Bill covering all entities.
The draft Bill ...
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Banking |
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CBDT clarifies on interest earned by banks on investments in non-SLR securities
Posted Date : 04-Nov-2015 , 08:58:50 am | Posted By CASANSAAR
Accepting the Supreme Court’s stance, the Central Board of Direct Taxes (CBDT) has clarified that interest earned by banks on investments in “non-SLR” securities will be taxed only as “business income”, not as “income from other sources”.
The fallout of...
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CBDT |
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PM to Launch Gold Related Schemes on 5th November, 2015
Posted Date : 04-Nov-2015 , 08:44:07 am | Posted By CASANSAAR
The Prime Minister Shri Narendra Modi will launch the four mega Gold related Schemes i.e. Gold Monetisation Scheme (GMS), Gold Sovereign Bond Scheme, Gold Coin Scheme and the Gold Bullion Scheme on Thursday, 5th November, 2015 in the national capital.
The salient features of each of the afor...
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Finance |
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SIT asks MCA to take action against persons holding directorship in more 20 companies
Posted Date : 04-Nov-2015 , 08:37:16 am | Posted By CASANSAAR
Among others Special Investigation Team (SIT) calls for greater vigilance by law enforcement and intelligence agencies while examining the cases of persons holding Directorship in more than 20 Companies and where more than 20 companies are operating from the same address
The Speci...
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Category :
Companies Act |
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Four public sector banks get CEOs
Posted Date : 04-Nov-2015 , 08:23:18 am | Posted By CASANSAAR
The Finance Ministry has appointed chief executives in four public sector banks (PSBs) — Andhra Bank, Indian Bank, Corporation Bank, and UCO Bank.
Earlier in mid-August, private sector bankers were appointed to head five PSBs — Bank of Baroda, Bank of India, Punjab National Bank, Ca...
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Banking |
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Do not share personal data over phone, email: I-T dept to taxpayers
Posted Date : 03-Nov-2015 , 09:19:38 pm | Posted By CASANSAAR
The Income Tax department on Tuesday issued an advisory asking taxpayers not to share their personal financial details over email or phone and urged them to register a complaint in case they face such malicious attempt.
The advisory has come at a time when income tax returns (ITRs) fi...
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Income Tax |
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Deepak Singhal Appointed Executive Director of RBI
Posted Date : 03-Nov-2015 , 08:18:47 am | Posted By CASANSAAR
The Reserve Bank has appointed Deepak Singhal as Executive Director with effect from Monday.
"Deepak Singhal has taken over as the new Executive Director at the Reserve Bank of India today, November 2, 2015," RBI said in a communication.
Prior to this, Mr Singhal was the Regional Dir...
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RBI |
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CVC seeks info from Finmin on SEBI member appointment
Posted Date : 03-Nov-2015 , 08:12:41 am | Posted By CASANSAAR
The chief vigilance commissioner (CVC) has written to the finance ministry, asking whether vigilance clearance was granted to Prashant Saran, the whole-time member of the Securities and Exchange Board of India (Sebi). The said query was on the period when the member’s tenure came up for renewa...
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SEBI |
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Audit and consultancy firm PwC India roped in to beef up Aadhaar security
Posted Date : 03-Nov-2015 , 08:07:19 am | Posted By CASANSAAR
With concerns related to privacy and security threatening the very existence of the Aadhaar project, the Unique Identification Authority of India (UIDAI) has employed the services of an external agency to carry out periodic audits of Aadhaar's infrastructure as well as that of its partners for a...
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Auditing |
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0 | Hits : 1096
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Tax evasion, money laundering to become difficult in next 1-2 years: FM
Posted Date : 03-Nov-2015 , 07:56:24 am | Posted By CASANSAAR
Finance Minister Arun Jaitley today said tax evasion and money laundering will become “extremely difficult” in the next 1-2 years, with real-time global automatic exchange of information system coming into effect.
“I am quite certain that the activity is going on in ...
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Income Tax |
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Election Manifesto of KHURANA VIVEK - NIRC B. NO. 40
Posted Date : 02-Nov-2015 , 10:51:18 am | Posted By CASANSAAR
Respected Professional Collegues,
Plz find below Election Manifesto of CA.KHURANA VIVEK (Founder of www.casansaar.com) who are contesting for NIRC Election of ICAI to be held on 4th -5th December 2015.
His NIRC Ballot No. is 40, We seeks your Vote, Support & Blessings for Him.
...
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Category :
ICAI Election |
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0 | Hits : 1926
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ED, RBI asked to probe FDI norm violation by e-tailers
Posted Date : 02-Nov-2015 , 09:14:53 am | Posted By CASANSAAR
The Union Commerce Ministry has reportedly requested the Enforcement Directorate (ED) and the Reserve Bank of India (RBI) to examine whether e-commerce firms like Flipkart, Amazon and Snapdeal have violated foreign direct investment (FDI) rules by engaging in business-to-consumers (B2C) activity.
...
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Finance |
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0 | Hits : 885
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Economic Affairs Secretary Shaktikanta Das joins SEBI board
Posted Date : 02-Nov-2015 , 09:12:29 am | Posted By CASANSAAR
Economic Affairs Secretary Shaktikanta Das has joined the board of capital market regulator Sebi (Securities and Exchange Board of India).
Mr Das has replaced Manoj Joshi as nominee of the Finance Ministry on the Sebi board. Mr Joshi is currently Joint Secretary (Capital Markets) in the ministr...
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SEBI |
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ICAI Election Procedure - Single Transferable System of Voting
Posted Date : 31-Oct-2015 , 10:50:18 am | Posted By CASANSAAR
The next elections to the Council and Regional Councils of the Institute will be held on 4th and 5th December, 2015 at Ahmedabad, Bangalore, Chennai, Delhi/New Delhi, Gurgaon, Hyderabad, Jaipur, Kolkata, Mumbai, Pune, Surat and Thane and on 5th December, 2015 at all other places where polling booths...
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ICAI Election |
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Govt To Issue Sovereign Gold Bonds On Nov 5; Offers 2.75 % Interest
Posted Date : 30-Oct-2015 , 10:48:02 pm | Posted By CASANSAAR
The Sovereign Gold Bonds will offer an interest rate of 2.75 per cent and will remain open for public subscription between November 5-20, Finance Ministry said on Friday.
Aimed at providing an alternative to buying physical gold, the gold bond scheme will offer investors a choice to buy bonds w...
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Category :
Finance |
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0 | Hits : 978
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SC to hear PIL demanding ban on websites with Santa Banta jokes
Posted Date : 30-Oct-2015 , 10:36:03 pm | Posted By CASANSAAR
Supreme Court on Friday agreed to hear a Public Interest Litigation (PIL) seeking direction to ban websites displaying jokes on Sardars and projecting them in a poor light.
“This (Sikh) community is known for great sense of humour and they also enjoy such jokes. You must have gone through...
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General |
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Inner Healing Meditation Programme for CAs in Delhi
Posted Date : 30-Oct-2015 , 01:43:22 pm | Posted By CASANSAAR
In continues to our social and unique services to members of CASANSAAR, we have organized a Inner Healing Meditation Programme in Gurgaon on 28th October 2015. This Programme was conducted and instructed by Acharya Manmohan Ji. The core objective of this Programme of stress management and finding th...
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General |
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No fresh permission to foreign law firms for liaison office: RBI
Posted Date : 30-Oct-2015 , 08:30:42 am | Posted By CASANSAAR
The Reserve Bank today said it would not grant fresh or renewed permission to any foreign law firm to open a liaison office in the country.
The Supreme Court, by its interim orders of July 4, 2012 and September 14, 2015, in the case of the Bar Council of India vs A K Balaji and Others has d...
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RBI |
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Taxation of income from off-shore Rupee Denominated Bonds
Posted Date : 30-Oct-2015 , 08:19:03 am | Posted By CASANSAAR
The Reserve Bank of India has recently permitted Indian corporates to issue rupee denominated bonds outside India.
The matter of taxation of income from such bonds under Income-tax Act, 1961 has been considered by the Government.
In so far as taxation of interest income from these ...
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Category :
Income Tax |
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Income Tax Dept’s new norms: Top 5 ways taxpayers will benefit
Posted Date : 29-Oct-2015 , 09:06:49 am | Posted By CASANSAAR
Under new rules, Income Tax Department has asked its customer care centres to monitor email complaints of taxpayers about their income tax returns and other problems and diligently send them to tax officers. The new directive comes at a time when Finance Minister Arun Jaitley unveiled two ...
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Income Tax |
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Announcement on Ceiling on Election Expenses - ICAI
Posted Date : 29-Oct-2015 , 08:58:38 am | Posted By CASANSAAR
Accordingly, the Council of the Institute, in pursuance of sub-rule (1) of Rule 41 of the said Rules read with sub-regulation (10) of Regulation 134 of the Chartered Accountants Regulations, 1988, has fixed the following ceiling on election expenses in aggregate under all possible heads, in respect ...
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Category :
ICAI Election |
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Notice From Income Tax Office: Now Address It Online
Posted Date : 29-Oct-2015 , 08:37:35 am | Posted By CASANSAAR
Getting a notice from the income tax department has a direct effect on one’s heartbeat. One should, however, not panic and address the issues raised by the department especially when one is not on the wrong side of taxes.
Scrutiny of income tax return may occur primarily be...
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Category :
Income Tax |
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0 | Hits : 1383
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Government Approves 16 FDI Proposals Worth Rs 4,722 Cr
Posted Date : 29-Oct-2015 , 08:10:12 am | Posted By CASANSAAR
The government has cleared 16 foreign investment proposals, including those of HDFC Capital and Ageon Religare Life Insurance Company, amounting to Rs 4,722 crore.
The investment proposals were approved following the recommendation by the Foreign Investment Promotion Board (FIPB), headed by Econo...
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International Business |
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Najib Shah to take charge as CBEC Chairman
Posted Date : 29-Oct-2015 , 08:03:20 am | Posted By CASANSAAR
The Government on Wednesday appointed senior Indian Revenue Service officer Najib Shah as Chairman, Central Board of Excise and Customs.
“The Appointments Committee of Cabinet has approved the appointment of Najib Shah, Member CBEC as Chairman CBEC vice Kaushal Srivastava,” sa...
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Category :
Corporate Law |
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0 | Hits : 1023
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RBI to notify sovereign gold bond scheme soon
Posted Date : 28-Oct-2015 , 08:26:23 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) will soon notify a sovereign gold bond scheme. This follows the notification of a gold monetisation scheme last week. The government will launch three new schemes: Apart from bonds, the others pertain to gold monetisation and selling of gold coins....
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RBI |
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0 | Hits : 921
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Six expert panels to review Companies Act 2013
Posted Date : 28-Oct-2015 , 08:18:56 am | Posted By CASANSAAR
The government is setting the ground for another overhaul of the Companies Act 2013 to make it easier for corporates to do business in the country, a senior government official said.
The corporate affairs ministry has formed six expert panels to work on more amendments to the Act on top of 16 ame...
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Companies Act |
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Clarification on the use of CA Logo - ICAI
Posted Date : 28-Oct-2015 , 08:07:46 am | Posted By CASANSAAR
...
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ICAI |
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Tentative dates of forthcoming Information Systems Audit (Assessment Test)-(ISA-AT) - ICAI
Posted Date : 28-Oct-2015 , 08:00:52 am | Posted By CASANSAAR
26th October 2015
ISA-AT for members is held twice a year in the month of June and December.
The tentative dates of the forthcoming ISA-ATs are as follows:
26th December 2015
25th June 2016
24th December 2016
It may be please be noted that the dates me...
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ICAI |
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CA Vinod Jain & CA Mukesh Patel included in the panel set up by Govt.to simplify Income Tax laws
Posted Date : 28-Oct-2015 , 07:53:11 am | Posted By CASANSAAR
The Government of India has constituted a Committee with a view to simplify the provisions of the Income Tax Act, 1961, with the following composition:
(i) Justice R.V. Easwar, (Retd.),...
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Category :
Income Tax |
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0 | Hits : 1160
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FM Launches The E-Sahyog Pilot Project of The Income-Tax Department to Facilitate Taxpayers
Posted Date : 27-Oct-2015 , 08:19:19 pm | Posted By CASANSAAR
The Income-tax Department is committed to the ‘Digital India’ initiative of the Government of India. The Finance Minister Shri Arun Jaitley launched here today an “e-Sahyog” pilot project which furthers the Department’s commitment to work in an e-environment and reduces...
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Category :
Income Tax |
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