Government Approves Promotion of 153 IRS Officers of 1992, 1993 & 1994 Batches to the Rank of Commissioners of Income Tax
Posted Date : 17-Sep-2015 , 08:02:22 am | Posted By CASANSAAR
In a major step towards implementation of restructuring of the Income Tax Department, the Government has approved the promotion of 153 officers to the rank of Commissioners of Income Tax. The officers belong to 1992, 1993 & 1994 batches. With these promotions, the Department will be able to addr...
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Income Tax |
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Tax Compliances - Letter to PM for Mann Ki Baat
Posted Date : 16-Sep-2015 , 09:25:13 am | Posted By CASANSAAR
Shri Narendra Modi Ji,
Hon’ble Prime Minister,
Mann Ki Baat,
Akashvani, Sansad Marg,
New Delhi – 110001.
Greetings of the Day!!!
The Business & professional community of the country has reposed unprecedented confidence in your esteemed leadership. While your ini...
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Category :
Income Tax |
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2 | Hits : 2320
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PM urges people to record voice messages for Mann Ki Baat
Posted Date : 16-Sep-2015 , 08:44:03 am | Posted By CASANSAAR
The Prime Minister, Shri Narendra Modi, has urged people to record voice messages for 'Mann Ki Baat'.
The "My Gov" platform, had earlier invited people to record messages in either Hindi or English, for Mann Ki Baat on the toll-free number 1800 3000 7800.
"In...
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Category :
General |
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0 | Hits : 898
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Status of Tax Audit Date Extension Update with Different High Courts
Posted Date : 16-Sep-2015 , 08:34:04 am | Posted By CASANSAAR
DELHI HIGH COURT
High Court not accepted the Writ & asked to file PIL
GUJARAT HIGH COURT
Writ Petition has been Filed. Date of Hearing Fixed for Monday i.e. 21st September 2015.
PUNJAB & HARYANA HIGH COURT
Writ Petition has been filed in Punjab & Haryan...
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ITR |
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CBDT forms panel to examine industry-based tax assessment system
Posted Date : 15-Sep-2015 , 09:07:45 pm | Posted By CASANSAAR
CBDT has constituted a new committee to examine the feasibility of implementing a new tax assessment system of 'industry-based jurisdiction' instead of the current system of territorial revenue collection in the country.
The six-member committee, to be headed by a Principal Commissi...
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CBDT |
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0 | Hits : 836
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FMC staffers resist merger with SEBI
Posted Date : 15-Sep-2015 , 07:31:39 am | Posted By CASANSAAR
The impending merger of the Forward Markets Commission (FMC) with the Securities and Exchange Board of India (Sebi) has run into a legal hurdle, with a group of employees of the commodities market regulator moving Bombay High Court against the merger.
The employees said they h...
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SEBI |
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0 | Hits : 902
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Delhi HC not accepted the Writ for Extension of Tax Audit Date
Posted Date : 15-Sep-2015 , 07:26:01 am | Posted By CASANSAAR
Delhi HC not accepted the Writ for Extension of Tax Audit Date and said that the issue involved seems to be of Public Interest and Appellant should file Public Interest Litigation (PIL) instead of Writ Petition.
Petitioner are going through what next step to be taken and seeking legal advice as...
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ITR |
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0 | Hits : 2298
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RBI cancels Sahara India Financial Corporation's NBFC registration
Posted Date : 15-Sep-2015 , 07:12:52 am | Posted By CASANSAAR
The Reserve Bank of India on Monday cancelled the certificate of registration of Sahara India Financial Corporation, a non-banking finance company, with effect from September 3.
With this mandate, the Lucknow-headquartered Sahara India Financial Corporation cannot conduct the business of a ...
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RBI |
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0 | Hits : 984
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Finance Minister Promises foreign investors Fairest, Predictable tax regime
Posted Date : 14-Sep-2015 , 03:58:32 pm | Posted By CASANSAAR
Finance Minister Arun Jaitley has assured global investors of the "fairest and predictable taxation regime" as he invited them to invest in various sectors, including infrastructure, manufacturing and defence.
He said he's optimistic that Indo-US bilateral...
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Category :
International Taxation |
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0 | Hits : 839
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Income Tax refunds to be sent to taxpayers in 7-10 days
Posted Date : 14-Sep-2015 , 07:49:22 am | Posted By CASANSAAR
In what could be a good news for hundreds of thousands of taxpayers, the income tax department will process and send refunds in 7-10 days as its latest technology upgrade of electronic and Aadhaar-based ITR verification has begun on a successful note.
The department's latest initiat...
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Category :
Income Tax |
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0 | Hits : 1391
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Rakesh Sharma takes over as Canara Bank MD and CEO
Posted Date : 12-Sep-2015 , 07:27:25 am | Posted By CASANSAAR
State-run Canara Bank today said Rakesh Sharma has assumed charge as its Managing Director and Chief Executive Officer.
Before joining Canara Bank, Sharma was MD and CEO of Lakshmi Vilas Bank since March 7, 2014.
Sharma’s s parental bank was State Bank of India wherein he had raised to t...
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Category :
Banking |
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0 | Hits : 1091
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Satyam scam: Sebi asks Raju family, others to return Rs 1800 crore
Posted Date : 11-Sep-2015 , 08:42:41 am | Posted By CASANSAAR
In a fresh order in the nearly seven-year old Satyam scam case, regulator Sebi today asked 10 entities linked to the main accused B Ramalinga Raju -- including his mother, brother and son -- to disgorge over Rs 1,800 crore worth of illegal gains made by them.
Besides, they will also have to...
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Category :
Auditing |
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0 | Hits : 1407
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Auditors make 10 critical comments on Metropolitan Stock Exchange
Posted Date : 11-Sep-2015 , 08:37:42 am | Posted By CASANSAAR
The auditors of Metropolitan Stock Exchange (MSEI) have made 10 critical comments, including the practice of preparing the financial statements on ‘on going concern’ basis (an assumption that the entity will not be forced to halt operations and liquidate assets in the near term), even th...
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Category :
Auditing |
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0 | Hits : 1483
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Over 20 million Income Tax returns filed online
Posted Date : 11-Sep-2015 , 07:39:03 am | Posted By CASANSAAR
More than 20 million income tax returns have been filed electronically, the income-tax department said on Thursday, a growth of more than 26% from a year ago.
The department received 20.6 million returns on the e-filing portal, as against 16.3 million returns last year.
The last date for f...
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Category :
ITR |
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0 | Hits : 1118
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Blackmoney: No compounding of cases under Act - CBDT
Posted Date : 10-Sep-2015 , 08:54:36 am | Posted By CASANSAAR
Cases of Indians holding funds stashed abroad and falling under the purview of the new anti-black money law will not have scope to enjoy the facility of compounding of the offence as compared to such provisions existing in the Income Tax Act, the CBDT has said.
The Compounding of Offences is a ...
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Category :
Black Money |
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0 | Hits : 1260
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Centre drops plans to call special session for GST passage
Posted Date : 09-Sep-2015 , 06:46:27 pm | Posted By CASANSAAR
With no signs of support coming from the main opposition Congress, the Centre on Wednesday dropped plans for calling a special session of Parliament for passage of the Goods and Services Tax (GST) bill and decided to prorogue both the Lok Sabha and the Rajya Sabha.
“Keeping the political ...
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Category :
GST |
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0 | Hits : 1131
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Cabinet allows 100 per cent FDI under automatic route for white label ATMs
Posted Date : 09-Sep-2015 , 06:43:26 pm | Posted By CASANSAAR
The Union Cabinet has approved the proposal to allow 100 per cent foreign direct investment (FDI) in white labelled automated teller machines (ATM) through the automatic route.
The decision is likely to result in faster growth of the white labelled ATMs--set up by private non-banking entities&m...
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Category :
International Business |
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0 | Hits : 1087
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Introduction of Gold Monetization Schemes
Posted Date : 09-Sep-2015 , 06:40:21 pm | Posted By CASANSAAR
The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, today gave its approval for introduction of Gold Monetization Schemes (GMS), as announced in the Union Budget 2015-16.
The objective of introducing the modifications in the schemes is to make the existing schemes more effe...
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Category :
General |
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0 | Hits : 1234
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Introduction of Sovereign Gold Bonds Scheme
Posted Date : 09-Sep-2015 , 06:39:04 pm | Posted By CASANSAAR
The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, today gave its approval for introduction of the Sovereign Gold Bonds Scheme, as announced in the Union Budget 2015-16.
The scheme will help in reducing the demand for physical gold by shifting a part of the estimated 300 tons of...
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General |
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No Extension of Date for Filing of Returns due by 30th September for AY 2015-16 - CBDT
Posted Date : 09-Sep-2015 , 06:36:07 pm | Posted By CASANSAAR
No Extension of Date for Filing of Returns due by 30th September for Assessment Year 2015-16 for Certain Categories of Assessees Including Companies, and Firms and, Individuals Engaged in Proprietary Business/Profession etc whose Accounts are required to be Audited; Taxpayers are Advised to file the...
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CBDT |
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2 | Hits : 2096
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SEBI Notifies New Rules Ahead Of FMC Merger
Posted Date : 09-Sep-2015 , 08:43:43 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) on Tuesday amended its regulations that would allow the functioning of the commodities derivatives market and its brokers under the ambit of the capital market regulator.
The move comes ahead of the merger of the commodities' market regulator,...
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SEBI |
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0 | Hits : 962
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CBDT: Filing of court case must if illegal foreign assets are detected
Posted Date : 09-Sep-2015 , 08:35:13 am | Posted By CASANSAAR
Taking a tough stance against black money, the CBDT has directed the Income Tax department to mandatorily launch court cases against people found to be holding stash funds and tainted assets abroad and consider "compounding" of such offences only at a later stage.
The apex policy-maki...
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CBDT |
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0 | Hits : 966
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Undisclosed foreign bank accounts: CBDT issues guidelines for compounding of offences
Posted Date : 08-Sep-2015 , 08:33:40 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has issued guidelines for compounding of offences under Income Tax Act, 1961/Wealth Tax Act, 1957, in cases of persons holding undisclosed foreign bank accounts/assets. The CBDT on Friday issued directions to all field formations, including principal chief co...
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CBDT |
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0 | Hits : 1363
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RBI brings 7 new features, numbering system to check fake currency
Posted Date : 07-Sep-2015 , 07:53:45 am | Posted By CASANSAAR
To check the menace of fake Indian currency, new notes, especially the Rs.1,000 and Rs.500 denominations, will have 7 new security features and a new numbering system, official sources said on Sunday.
The Reserve Bank of India subsidiary Bhartiya Note Mudran Pvt Ltd (BRBNMPL) and the state-run ...
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RBI |
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0 | Hits : 1652
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Black money : Upto Rs 15 lakh award for info against defaulters
Posted Date : 06-Sep-2015 , 09:37:42 pm | Posted By CASANSAAR
The Income Tax department has brought out new guidelines to award secret informers providing actionable clue about "untraceable" assesses who owe huge taxes and money to government including in TDS and self assessment tax category.
The department last week issued a set of new instructio...
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Category :
Black Money |
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0 | Hits : 1705
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SEBI eases norms for related-party transactions
Posted Date : 04-Sep-2015 , 09:06:38 am | Posted By CASANSAAR
The Securities and Exchange Board of India (SEBI) on Thursday relaxed rules for related-party transactions in a bid to bring them in line with the new Companies Act.
The market regulator has amended the listing agreement norms to allow companies to approve any material related-party tra...
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Category :
Income Tax |
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0 | Hits : 1295
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CBDT Issues a Circular Clarifying Another Set of 27 Queries Relatinga to Tax Compliance Provision Under Chapter VI of the Black Money Act
Posted Date : 04-Sep-2015 , 08:57:15 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has considered the queries received from the public about the tax compliance provisions under Chapter-VI of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (‘Black Money Act’) and issued a Cir...
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CBDT |
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0 | Hits : 1231
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Due date for filing Income tax returns extended till Sept. 7, 2015 for all taxpayers
Posted Date : 03-Sep-2015 , 08:42:59 am | Posted By CASANSAAR
Government has extended the due date for filing of Income Tax Return for Assessment Year 2015-16 to 7th September 2015 from 31st August 2015 for taxpayers who were required to file their tax-return by 31st July, 2015. It has been done considering hardships faced by taxpayer in E-Filing Returns ...
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Category :
ITR |
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0 | Hits : 1508
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FinMin notifies SEBI - FMC merger from September 28
Posted Date : 03-Sep-2015 , 08:13:09 am | Posted By CASANSAAR
The government on Wednesday said that it has notified the merger of commodities regulator Forward Market Commission with the Securities and Exchange Board of India (Sebi).
Starting September 28, Sebi would also regulate commodity derivatives market. “A notification to this effect was issued...
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SEBI |
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0 | Hits : 1037
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Blessings, Guidance, Vote & Support in NIRC Election for KHURANA VIVEK
Posted Date : 02-Sep-2015 , 09:00:38 am | Posted By CASANSAAR
CA Vivek Khurana has declared his candidature for the Regional Council Election (NIRC) of ICAI.
CA Vivek Khurana, Founder of casansaar.com, a renowned website is a practicing Chartered Accountant and fellow member of ICAI. Mr. Khurana is a Partner of Khurana Vivek & Co., a leading ...
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Category :
ICAI Election |
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0 | Hits : 1510
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