Ashneer Grover moves NCLT, alleges oppression, mismanagement at BharatPe
Posted Date : 12-Dec-2023 , 08:43:07 pm | Posted By CASANSAAR
Ashneer Grover, former managing director of BharatPe, has moved the National Company Law Tribunal (NCLT), Delhi, alleging opression and mismanagement at the company.
The case came up for hearing on December 6, wherein his lawyer sought additional time to address the tribunal on maintainability. T...
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Corporate Law |
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Punjab Govt orders Audit of 19,000 Co-op Societies across State
Posted Date : 06-Dec-2023 , 08:36:48 am | Posted By CASANSAAR
The government has asked the Registrar, Cooperative Societies, to get an audit of all finances and assets of 19,000 cooperative societies in the state.
The order has been issued by the Special Chief Secretary, Cooperatives, asking for immediate compliance from the department.
Following this, R...
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Auditing |
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21,791 fake GST registrations, suspected tax evasion of Rs 24,000 Cr detected in special drive
Posted Date : 06-Dec-2023 , 08:33:50 am | Posted By CASANSAAR
Finance Minister Nirmala Sitharaman on December 5 said GST officers have detected 21,791 fake GST registrations and over Rs 24,000 crore of suspected tax evasion during a two-month-long special drive. In a written reply to a question in Rajya Sabha, the minister said to safeguard the interest of hon...
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Category :
GST |
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Indian Banks write off Rs.10.6 Lakh Cr in 5 years, 50% linked to Large Corporates
Posted Date : 05-Dec-2023 , 07:21:56 am | Posted By CASANSAAR
The government on Monday informed the Lok Sabha that all Scheduled Commercial Banks have written off nearly Rs 10.6 lakh crore in the last 5 years, out of which nearly 50 per cent belong to large industrial houses. It also said that nearly 2300 borrowers, each having a loan amount of Rs 5 crore or m...
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Banking |
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NFRA has Superior Powers over ICAI for Professional Misconduct - NCLAT
Posted Date : 05-Dec-2023 , 07:12:34 am | Posted By CASANSAAR
The National Financial Reporting Authority (NFRA) has superior and overriding powers over the Institute of Chartered Accountants of India (ICAI) in matters relating to professional misconduct of chartered accountants (CAs), the National Company Law Appellate Tribunal (NCLAT) has ruled in a judgment ...
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NFRA |
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Investment firm BlackRock stake in Suzlon Energy surpasses 5% level
Posted Date : 03-Dec-2023 , 08:09:56 am | Posted By CASANSAAR
Investment firm BlackRock Inc's equity holding has surpassed the five per cent level in renewable energy solution provider Suzlon Energy with the acquisition of about 24.73 lakh shares.
"The aggregate holdings of BlackRock, Inc. (on behalf of discretionary management clients) in Su...
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Shares & Stock |
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0 | Hits : 1530
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Cabinet approves Terms of Reference for the Sixteenth Finance Commission
Posted Date : 30-Nov-2023 , 07:39:23 am | Posted By CASANSAAR
The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has approved the Terms of Reference for the Sixteenth Finance Commission.
The Terms of Reference for the Sixteenth Finance Commission will be notified in due course of time. The 16th Finance Commission’s recommendations, ...
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Finance |
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0 | Hits : 1200
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GSTN Advisory for the procedures and provisions related to the GST Amnesty Scheme
Posted Date : 30-Nov-2023 , 07:35:33 am | Posted By CASANSAAR
Advisory for the procedures and provisions related to the amnesty for taxpayers who missed the appeal filing deadline for the orders passed on or before March 31, 2023.
1. Amnesty for Taxpayers: The GST Council, in its 52nd meeting, recommended granting amnesty to taxpayers who...
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GST |
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0 | Hits : 930
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Income tax Department introduces new
Posted Date : 29-Nov-2023 , 07:21:13 am | Posted By CASANSAAR
The income tax (I-T) department has introduced a crucial functionality on its website allowing taxpayers to discard their previously filed but unverified Income Tax Returns (ITR). Earlier, taxpayers were allowed to revise the ITR only in case of error or omission.
“The income tax portal has...
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Category :
Income Tax |
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0 | Hits : 1115
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Delhi HC imposes Rs 2 lakh fine on ex-Bharat Pe MD Ashneer Grover for derogatory posts
Posted Date : 29-Nov-2023 , 07:18:00 am | Posted By CASANSAAR
The Delhi High Court on November 28 imposed a fine of Rs 2 lakh on Ashneer Grover, the former Managing Director and co-founder of Bharat Pe, for sharing inappropriate posts about Bharat Pe. The action, however, was taken despite Grover giving assurance to the court that he would refrain from doing s...
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Category :
Income Tax |
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0 | Hits : 928
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RBI updates the Alert List of unauthorized forex trading platforms
Posted Date : 28-Nov-2023 , 07:16:09 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has added the following entities/platforms/websites to the Alert List of unauthorized forex trading platforms. Updated Alert List is available here.
Sr. No
Name
Website
1
Admiral Market
https://admiralmarket...
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RBI |
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0 | Hits : 999
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SEBI Plans to Introduce Same-Day Trade Settlement by March 2024
Posted Date : 27-Nov-2023 , 08:21:09 pm | Posted By CASANSAAR
Capital markets regulator Sebi aims to introduce same-day settlement of trades on stock exchanges by March 2024 and eventually have real time settlement, its Chairperson Madhabi Puri Buch said on Saturday. Already, the watchdog reduced the settlement timelines to as short as one day.
“Sebi ...
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SEBI |
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0 | Hits : 929
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Faceless scrutiny assessment under GST may take some time - GSTN
Posted Date : 23-Nov-2023 , 07:09:48 am | Posted By CASANSAAR
GST authorities may take some time to introduce faceless scrutiny assessment of tax returns filed under Goods and Services Tax (GST), a senior official said on Wednesday. The faceless assessment — under which there is no physical interaction between the tax officer and the assessee and no phys...
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Category :
GST |
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0 | Hits : 1024
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GST notice of Rs. 400 Cr Sent to Zomato, Rs. 350 Cr to Swiggy
Posted Date : 23-Nov-2023 , 07:06:55 am | Posted By CASANSAAR
Zomato and Swiggy, the country's top two food delivery aggregators, have reportedly come under the scrutiny of tax authorities, with notices of a combined value of ?750 crore sent to them, a report said on November 22.
Zomato, which has the biggest share in India's online food delivery ma...
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GST |
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0 | Hits : 1128
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CBDT Amended ITR-7 Permitting Assesses Taxable Income to File ITR-7 for AOPs Tax Rate
Posted Date : 22-Nov-2023 , 08:10:32 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) through its Notification No. 94/2023 dated 31/10/2023 has introduced changes to the ITR-7 form to accommodate the taxable income of individuals eligible to file the ITR-7 form under the tax rates applicable to AOP, which aligns with the slab rates applicable ...
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Category :
Income Tax |
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Centre plans to appoint advocates as judicial members in GST Appellate Tribunal Benches
Posted Date : 22-Nov-2023 , 08:00:50 am | Posted By CASANSAAR
The government plans to amend the CGST Act in the winter session of Parliament that will allow advocates with experience in litigation to be appointed as judicial members in GST appellate tribunal benches.
Finance ministry officials said the amendments would increase the maximum age of the presid...
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Category :
GST |
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0 | Hits : 1165
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SEBI eases rule for physical securities' holders without PAN, KYC details
Posted Date : 18-Nov-2023 , 08:41:41 pm | Posted By CASANSAAR
Capital markets regulator Sebi on Friday decided to do away with the provision of requiring the freezing of folios without PAN, KYC details and nomination for all holders of physical securities.
The move, aimed at simplifying the rule, will come into force with immediate effect, the Securities an...
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SEBI |
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SEBI board to consider new delisting norms, trading reforms
Posted Date : 17-Nov-2023 , 07:58:44 am | Posted By CASANSAAR
Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch Thursday said the regulator would review new proposed delisting regulations and trading plan reforms at its board meeting soon.
SEBI had earlier said it may allow companies to delist shares at a fixed price as against the...
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SEBI |
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BharatPe Ex-CEO Ashneer Grover, Family Made Fake Multi-Crore Invoices - Sources
Posted Date : 16-Nov-2023 , 07:44:11 am | Posted By CASANSAAR
The Economic Offences Wing's (EOW) investigation into the alleged fraud at payments firm BharatPe has found a host of unexplained payments made to allegedly fake human resource consultancies by co-founder Ashneer Grover, his wife and the company's former head of controls Madhuri Jain Grover ...
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Category :
GST |
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0 | Hits : 1975
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GSTN Advisory for Online Compliance Pertaining to ITC mismatch -GST DRC-01C
Posted Date : 16-Nov-2023 , 07:36:32 am | Posted By CASANSAAR
Difference in Input Tax Credit (ITC) available in GSTR-2B & ITC claimed in the GSTR-R3B
Dear Taxpayers,
1. It is informed that GSTN has developed a functionality to generate automated intimation in Form GST DRC-01C which enables the taxpayer to explain the difference in Input tax credi...
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Category :
GST |
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0 | Hits : 1188
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SEBI asks stock brokers to simplify terms and conditions for investors
Posted Date : 14-Nov-2023 , 07:50:34 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) has directed stock brokers to publish a narrow list of terms and conditions labelled as ‘most important terms and conditions’ (MITC) to convey risks, tariffs, and policy-related information in an easy format to investors.
Investors and...
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SEBI |
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0 | Hits : 1208
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Over 100,000 small and mid-sized businesses flout GST e-invoicing rules
Posted Date : 10-Nov-2023 , 09:02:59 am | Posted By CASANSAAR
Over 100,000 small and medium-sized businesses are non-compliant with e-invoicing norms under the goods and services tax (GST) regime, a mandatory requirement for businesses with an annual turnover of over Rs 5 crore.
E-invoicing provides real-time access to invoices that are prepared by the supp...
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Category :
GST |
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11.5 Cr PAN Cards Deactivated after missing deadline for linking with Aadhaar
Posted Date : 09-Nov-2023 , 09:12:24 am | Posted By CASANSAAR
A total of 11.5 crore PAN cards were deactivated for not being linked to Aadhaar cards before the stipulated deadline, a Right to Information (RTI) reply by the Central Board of Direct Taxes (CBDT) stated.
The deadline for linking PAN with Aadhaar expired on June 30 earlier this year. ...
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PAN |
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0 | Hits : 2366
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CBIC clarifies on GST implications for electricity charges
Posted Date : 07-Nov-2023 , 09:04:29 am | Posted By CASANSAAR
The Central Board of Indirect Taxes and Customs (CBIC) has clarified that when electricity charges are bundled with renting of immovable property and/or maintenance of premises, it will be considered a composite supply and subject to Goods and Services Tax (GST) at 18%. This is applicable even if th...
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GST |
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0 | Hits : 1288
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Govt approves extension of BoM, Central Bank MDs' tenure
Posted Date : 06-Nov-2023 , 08:32:49 am | Posted By CASANSAAR
The government has cleared the extension of tenure of managing directors of two public sector lenders -- Bank of Maharashtra (BoM) and Central Bank of India.
According to sources, Appointments Committee of the Cabinet (ACC) has approved extension of term of office of A S Rajeev, MD and CEO of B...
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Category :
Banking |
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0 | Hits : 1290
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FinMin launches GST Amnesty Scheme for filing appeals against demand orders
Posted Date : 04-Nov-2023 , 10:25:05 am | Posted By CASANSAAR
The finance ministry has come out with an amnesty scheme for filing appeals against Goods and Services Tax (GST) demand orders.
The scheme, which will be open till January 31, 2024, will be available for entities that were unable to submit their appeals against orders issued by the tax officer on...
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GST |
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0 | Hits : 1718
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RBI imposes Penalty on PNB, Federal Bank, 2 other entities
Posted Date : 03-Nov-2023 , 08:15:34 pm | Posted By CASANSAAR
The Reserve Bank on Friday said it has imposed a Rs 72 lakh penalty on state-owned Punjab National Bank and a Rs 30 lakh penalty on private sector Federal Bank for non-compliance with certain regulatory norms.
It has also imposed a penalty of Rs 10 lakh on Mercedes-Benz Financial Services India P...
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RBI |
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People can send Rs 2,000 notes by post to RBI offices for direct credit in bank accounts
Posted Date : 03-Nov-2023 , 07:03:33 am | Posted By CASANSAAR
People can send their Rs 2,000 banknotes to specified regional offices of the Reserve Bank through the insured post for credit in their bank accounts.
This is a hassle-free option for the people who are away from the regional offices of the Reserve Bank.
Besides, the RBI is offering TLR (Tripl...
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RBI |
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0 | Hits : 1219
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CBI begins probe into multi-crore PNB embezzlement case
Posted Date : 03-Nov-2023 , 06:50:54 am | Posted By CASANSAAR
The Central Bureau of Investigation (CBI) has started probe into the multi-crore banking fraud in which a former Punjab National Bank (PNB) employee, M.P. Rijil, allegedly swindled ?21 crore from multiple bank accounts, including the eight accounts maintained by the Kozhikode Corporation.
T...
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Banking |
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0 | Hits : 1179
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Govt appoints Sanjay Kallapur and R. Narayanaswamy as part-time members of NFRA
Posted Date : 01-Nov-2023 , 08:17:35 pm | Posted By CASANSAAR
The Central Government has appointed Sanjay Kallapur and R. Narayanaswamy as the part-time members of India’s independent accounting regulator, the National Financial Reporting Authority (NFRA).
The appointment is valid for a period of three years.
A notification issued by the Ministry o...
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NFRA |
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