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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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 : 953
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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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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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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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Tax Audit |
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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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Income Tax |
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0 | Hits : 1088
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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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Corporate Law |
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0 | Hits : 1005
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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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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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Corporate Law |
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0 | Hits : 870
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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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Banking |
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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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Income Tax |
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2 | Hits : 2337
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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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General |
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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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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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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 : 2312
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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 : 1006
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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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International Taxation |
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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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Income Tax |
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0 | Hits : 1415
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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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Banking |
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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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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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Auditing |
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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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ITR |
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0 | Hits : 1136
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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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Black Money |
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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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GST |
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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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International Business |
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0 | Hits : 1099
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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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General |
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0 | Hits : 1281
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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 : 2106
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