People flay snapping of internet services in Jammu
Posted Date : 26-Sep-2015 , 08:06:13 pm | Posted By CASANSAAR
Residents and the business community in Jammu today flayed the state government's move to snap internet connection in the region, along with the Kashmir Valley, saying that it had affected them badly.
"My business has come to a complete halt for the last two days, I have faced a huge los...
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General |
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Status of Tax Audit Date Extension Update with Different High Courts - 25/09/2015
Posted Date : 26-Sep-2015 , 10:46:29 am | Posted By CASANSAAR
Summary of the moves for the Extention of Date u/s 44AB:-
1.Bombay HC - Chamber of Tax Consultants Vs. Union of India & Ors (WP-2764/2015)
Adjourned to 29-09-2015
2. Orissa HC - Jagdish Prasad Mittal Vs. Union of India & Ors. (WP-17178/2015)
Adjourned to 2...
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Tax Audit |
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2 | Hits : 3776
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CBDT releases New Utility for Tax Audit Report efiling
Posted Date : 25-Sep-2015 , 08:35:15 am | Posted By CASANSAAR
CBDT has updated the tax audit utility today by updating utilities for form 3CA CD, form 3CB CD and form 10 B. So please take care and in case you are using tax filling software ask your vendor to update software.
As per version 1.3 documents section 194DA has been added in drop down. ...
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Income Tax |
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0 | Hits : 2441
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RBI directs concurrent auditors to submit reports directly to banks
Posted Date : 25-Sep-2015 , 08:07:57 am | Posted By CASANSAAR
The Reserve Bank of India has asked concurrent auditors of commercial banks to do to submit their review of non-performing loans directly to the banks and discontinue the practice of submitting it to the statutory auditors who conduct quarterly and half yearly review of bank accounts.
Concu...
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Bank Branch Audit |
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0 | Hits : 1788
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Nationwide Strike by Income Tax Officials on October 8
Posted Date : 25-Sep-2015 , 08:03:42 am | Posted By CASANSAAR
Nearly 97 per cent of employees and officers of Income Tax department would observe a nation-wide strike on October eight to press for filling up of vacant posts.
The Joint Council of Action of Income Tax Associations, an umbrella body of Income Tax employees and officers, said that targetted t...
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Income Tax |
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CBDT to issue pre-filled Income Tax Returns form to ease e-filing
Posted Date : 25-Sep-2015 , 12:02:15 am | Posted By CASANSAAR
As part of efforts to popularise the electronic mode of filing Income Tax Returns (ITRs), the CBDT is planning to provide “pre-filled” return forms to filers which will have an automatic upload of data on income and other vitals of a taxpayer.
The apex policy-making body of the I-T ...
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ITR |
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No action under FEMA against black money declarants: RBI
Posted Date : 24-Sep-2015 , 11:54:50 pm | Posted By CASANSAAR
In a bid to encourage disclosure of undeclared assets held abroad, the Reserve Bank of India today said no action under FEMA will be taken against declarations under one-time compliance window ending on Wednesday.
“No proceedings shall lie under the Foreign Exchange Management Act, 1999 (...
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Category :
Black Money |
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0 | Hits : 822
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Govt exempts Foreign firms without permanent establishment from paying MAT
Posted Date : 24-Sep-2015 , 11:42:46 pm | Posted By CASANSAAR
The government has exempted foreign companies from paying Minimum Alternate Tax (MAT) retrospectively from April 2001, provided they did not have a permanent establishment in India.
A press release issued by Finance Minister said, the provisions of Section 115JB of Income Tax will not apply...
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International Taxation |
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Delhi High Court refused to extend Tax Audit due date
Posted Date : 24-Sep-2015 , 06:55:45 am | Posted By CASANSAAR
Facts:
a) The petitioner claims to be entitled to extension of due date of filing income-tax return (‘ITR’) (i.e., September 30, 2015) due to the delay on the part of the respondents in prescribing the ITR forms.
b) It was contended that the said forms were prescribed only vid...
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Tax Audit |
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Status of Tax Audit Date Extension Update with Different High Courts - 22/09/2015
Posted Date : 23-Sep-2015 , 09:14:15 pm | Posted By CASANSAAR
1. PUNJAB & HARYANA HIGH COURT
Writ petition filed in Punjab & Haryana High Court (Chandigarh). Next Hearng will be on 24th September, 2015.
2. GUJARAT HIGH COURT
Writ petition filed in Gujrat High Court (Ahembdabad). Next Hearng will be on 24th Septe...
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Category :
Tax Audit |
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0 | Hits : 5982
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Income Tax officials threaten to go on strike
Posted Date : 23-Sep-2015 , 08:17:16 am | Posted By CASANSAAR
The finance ministry is gung-ho about revenue collections, but dissatisfied income tax (I-T) officials might spoil the party. The officials are up in arms over the lack of "infrastructure facilities" and pending vacant positions. They have threatened to go on a half-day...
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Income Tax |
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0 | Hits : 1821
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Finance ministry seeks public comments for Budget 2016-17
Posted Date : 23-Sep-2015 , 08:12:49 am | Posted By CASANSAAR
The finance ministry has decided to invite suggestions from the public for 2016-17 Budget in its bid to make the exercise more broad-based.
The suggestions can be posted on http://mygov.nic.in portal.
"The ministry of finance has decided to invite suggestions for the Bu...
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Category :
Budget |
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0 | Hits : 983
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ICAI President Meeting with the Hon’ble Finance Minister regarding Extension of Tax Audit Date
Posted Date : 23-Sep-2015 , 07:53:17 am | Posted By CASANSAAR
CA. Manoj Fadnis, President, ICAI, CA. Anuj Goyal, Chairman, Professional Development Committee, along with Chairman, Direct Taxes Committee , Vice-Chairman, Direct Taxes Committee , Vice Chairman, Committee on International Taxation, met and represented before Hon’ble Finance Minister Shri Ar...
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Income Tax |
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0 | Hits : 1585
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Status of Tax Audit Date Extension Update with Different High Courts
Posted Date : 22-Sep-2015 , 08:44:41 am | Posted By CASANSAAR
GUJARAT HIGH COURT
Notice issued to CBDT, Next Date of Hearing Fixed for 24th September 2015.
PUNJAB & HARYANA HIGH COURT
HC directed the department counsel to Seek instructions from the CBDT for extension of date. Matter now fixed for 24th Sept. 2015.
RAJASTHAN HI...
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Category :
Tax Audit |
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1 | Hits : 7910
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Non-extension of deadline for Tax Audit leaves CAs with mountain to climb
Posted Date : 22-Sep-2015 , 08:30:00 am | Posted By CASANSAAR
Chartered accountants are a worried lot. With Central Board for Direct Taxes refusing to extend the September 30 deadline for filing returns in case of tax audit, the Institute of Chartered Accountants of India has decided to move the finance ministry seeking relief. Manoj Fadnis, president, IC...
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Category :
Tax Audit |
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1 | Hits : 3372
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Store Gmail, Whatsapp communication for 90 days or else you could be jailed
Posted Date : 22-Sep-2015 , 08:12:10 am | Posted By CASANSAAR
Every message that you send--be it through WhatsApp, SMS, Email or any such service--must be mandatorily stored in plain text format for 90 days and made available on demand to security agencies under a draft New Encryption Policy that has triggered privacy concerns. Legal action that...
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General |
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1 | Hits : 1805
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Income tax department to catch hold of black money holders after September 30
Posted Date : 22-Sep-2015 , 08:09:24 am | Posted By CASANSAAR
All "consequences" of law will follow and the taxman will go after black money hoarders who do not declare their illegal funds before the expiry of a one-time 90-day "compliance window" on September 30, the CBDT chief warned on Monday.
The Central Board of Direct Taxes (CBDT),...
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Category :
Income Tax |
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0 | Hits : 765
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Govt confident of new GST regime to roll out from next fiscal: FM
Posted Date : 22-Sep-2015 , 08:02:04 am | Posted By CASANSAAR
Finance Minister Arun Jaitley today hoped that economic growth will be higher than 7.3 per cent, recorded last year. He said all macroeconomic parameters appear positive.
Addressing global fund managers and institutional investors in Hong Kong on the last day of his four-day visit to Singap...
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GST |
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Check genuineness of certificates issued by CAs: CVC to ICAI
Posted Date : 20-Sep-2015 , 09:41:12 pm | Posted By CASANSAAR
The Central Vigilance Commission has asked the apex body of Chartered Accountants, ICAI, to take steps to monitor genuineness of certificates issued by its members in order to check banking frauds.
The move comes after it was noticed by the CVC that some unscrupulous people were forging doc...
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ICAI |
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0 | Hits : 2448
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Income Tax department to use email for issuing notices
Posted Date : 20-Sep-2015 , 09:20:44 pm | Posted By CASANSAAR
In welcome news for taxpayers, the IT department has decided to launch a new system of issuing email notices to which an assessee can respond electronically, obviating the need for a physical interface with the taxman which often led to complaints about harassment.
The Central Board of Direct T...
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Category :
Income Tax |
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1 | Hits : 1175
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Companies Act May Be Fully Implemented by March 2016 - ICSI
Posted Date : 20-Sep-2015 , 09:17:33 pm | Posted By CASANSAAR
The Companies Act, 2013 is likely to be implemented fully by March 2016, president of the Institute of Company Secretaries of India (ICSI) Atul H Mehta has said.
Addressing a press meet here, Mr Mehta said on Sunday that the Act is being implemented partially and the unimplemented sections of the...
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Companies Act |
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0 | Hits : 824
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Gold deposits over 500gm without known income sources will attract tax
Posted Date : 19-Sep-2015 , 08:30:23 am | Posted By CASANSAAR
Gold deposits over 500gm, not explained by known source of income, will attract income tax under the gold monetization scheme, the government in an internal note dated 15 September that was released on Friday.
It is likely to discourage large depositors with undisclosed source of income but wil...
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Income Tax |
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0 | Hits : 931
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Finance Minister to Leave Tonight on a Four Day Official Visit to Singapore and Hong Kong
Posted Date : 17-Sep-2015 , 09:22:13 pm | Posted By CASANSAAR
Finance Minister to Leave Tonight on a Four Day Official Visit to Singapore and Hong Kong; During First Leg of his Visit to Singapore, FM will Address the Singapore Summit;
To Attend Meetings with Prominent Investors and Fund Managers Including Meetings with Temasek and GIC, ...
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Finance |
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0 | Hits : 1065
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Amendment in CA Website Guidelines - ICAI
Posted Date : 17-Sep-2015 , 09:19:33 pm | Posted By CASANSAAR
It is hereby announced that the Council at its 345th Meeting held on 14th - 16th August, 2015 decided to amend the ICAI Website Guidelines, based on the recommendations of the Ethical Standards Board. The amendment has been carried out between paras 6(ix) and (7) of the Website Guidelines, and is sh...
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ICAI |
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0 | Hits : 1405
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Status of Tax Audit Date Extension Update with Different High Courts
Posted Date : 17-Sep-2015 , 02:52:52 pm | Posted By CASANSAAR
PUNJAB & HARYANA HIGH COURT
High Court has accepted the Writ Petition for seeking extension of Tax Audit Date and had issued notice to CBDT. Next Hearng will be on 21st September, 2015.
GUJARAT HIGH COURT
Writ Petition has been Filed. Date of Hearing Fixed for Monday i.e...
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Category :
Tax Audit |
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0 | Hits : 5449
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CBDT mulls peer review of income tax orders
Posted Date : 17-Sep-2015 , 08:28:48 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) wants to make it easier to pay taxes in India. And the measures to be introduced in the near future, after obtaining an internal committee's report, could include peer review of assessment orders in certain cases. The concept of a peer review, C...
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Category :
Income Tax |
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0 | Hits : 1079
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EPFO hikes insurance cover up to Rs 6 lakh from current limit of Rs 3.6 lakh
Posted Date : 17-Sep-2015 , 08:13:59 am | Posted By CASANSAAR
A meeting of the Central Board of Trustees of Employees Provident Fund Organisation (EPFO) here on Wednesday decided to enhance the insurance benefit payable to dependents of the members of the Employees’ Provident Fund from the present Rs. 3.60 lakh to 6 lakh.
The move under the Employee...
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Category :
Corporate Law |
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0 | Hits : 997
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RBI allows allowed banks to grant certain loans to their CEOs, Directors
Posted Date : 17-Sep-2015 , 08:07:35 am | Posted By CASANSAAR
The Reserve Bank of India has allowed banks to grant certain loans to their CEOs and Directors by doing away with the prior approval requirement. In a notification issued in Mumbai yesterday, the RBI said banks can give loans to CEOs and Whole Time Directors for purchasing of car, personal computer,...
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RBI |
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0 | Hits : 1007
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Approval to promulgate the Negotiable Instruments (Amendment) Ordinance, 2015
Posted Date : 17-Sep-2015 , 08:05:57 am | Posted By CASANSAAR
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its approval for the proposal to promulgate the Negotiable Instruments (Amendment) Ordinance, 2015.
The proposed amendments to the Negotiable Instruments Act, 1881 (“The NI Act”) are focused on clarif...
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Category :
Corporate Law |
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0 | Hits : 856
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RBI approves 10 entities to set up small finance banks
Posted Date : 17-Sep-2015 , 08:04:48 am | Posted By CASANSAAR
Seeking to promote financial inclusion, the RBI has granted approval to 10 entities, in principle, to set up small finance banks to provide basic banking services to small farmers and micro industries. The approval granted yesterday includes Ujjivan Financial Services and Equitas Holdings.
...
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Category :
Banking |
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