Chartered Accountant can be held liable for deficiency in service
Posted Date : 04-Aug-2015 , 08:57:25 am | Posted By CASANSAAR
A Chartered Accountant (CA) who duped his client was dragged to the consumer court. In a significant ruling, the forum held that negligence in discharge of professional duties constitutes an unfair trade practice.
Fernandes received a summons from the income tax (I-T) de...
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Chartered Accountant |
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1 | Hits : 2877
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Greek stocks plunge, banks hammered, after 5-week shut down
Posted Date : 04-Aug-2015 , 08:44:40 am | Posted By CASANSAAR
Greece's stock market closed with heavy losses on Monday after a five-week shutdown brought on by fears that the country was about to be dumped from the euro zone.
Bank shares plummeted 30 per cent before loss limits kicked in to stop investors selling any more. The main Athens stock index ...
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Shares & Stock |
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0 | Hits : 727
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Finance Ministry to hold talkathon on new black money law on Tuesday
Posted Date : 04-Aug-2015 , 08:17:50 am | Posted By CASANSAAR
Finance Ministry will hold a talkathon on the new black money law on Tuesday during which Revenue Secretary Shaktikanta Das and CBDT Chairperson Anita Kapur will respond to the queries regarding the legislation.
Talkathon is being organised by the Ministry of Information and...
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Category :
Black Money |
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0 | Hits : 897
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New I-T norms require firms to make more disclosures on foreign income
Posted Date : 03-Aug-2015 , 09:04:23 am | Posted By CASANSAAR
Companies will have to make more disclosures on their foreign income and assets while filing their income tax returns, as per the norms notified by the income tax department for the assessment year 2015-16.
Companies will have to disclose details about foreign bank accounts, immovable property,...
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Income Tax |
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0 | Hits : 945
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All eyes on Greek banks as stock exchange reopens on Monday
Posted Date : 03-Aug-2015 , 08:50:28 am | Posted By CASANSAAR
Attention will be focused on Greece's embattled banks on Monday when the Athens stock exchange reopens after a six-week shutdown imposed while the country was negotiating with the European Union, International Monetary Fund (IMF) and other creditors regarding the bail-out talks on its debt crisi...
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Shares & Stock |
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0 | Hits : 800
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Don't enter commodities market for quick bucks: SEBI to investors
Posted Date : 03-Aug-2015 , 08:45:12 am | Posted By CASANSAAR
Ready to regulate commodity trading, Sebi has cautioned small investors against entering this market for quick gains through speculation, which is "risky" and requires a lot of technical expertise.
"People will come and tell you that with a small margin, you can make a lo...
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SEBI |
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0 | Hits : 806
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SBI Hong Kong Branch Fined $1 mn for Breaching Money Laundering Laws
Posted Date : 01-Aug-2015 , 08:55:35 am | Posted By CASANSAAR
In a setback to State Bank of India (SBI), the Hong Kong Central Bank imposed a $1 million (HK$7.5 million) penalty for breaching the Hong Kong anti money-laundering and counter terrorism financing rules.
The fine, imposed on SBI’s Hong Kong branch, is a first for the Hong Kong Monetary Aut...
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Banking |
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0 | Hits : 1199
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E-filing Utility of ITR Form 3, 4 & 7 enabled by CBDT
Posted Date : 01-Aug-2015 , 08:30:29 am | Posted By CASANSAAR
E-filing Utility of ITR Form 3, 4 & 7 enabled by CBDT w.e.f. 01/08/2015.
E-filing of ITR 5 & 6 will be enable Shortily....
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ITR |
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0 | Hits : 1441
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Ajay Tyagi named Additional Secretary to RBI board in place of Finance Secretary
Posted Date : 01-Aug-2015 , 08:16:52 am | Posted By CASANSAAR
In an unusual move, the Finance Ministry has nominated Ajay Tyagi, Additional Secretary in the Department of Economic Affairs to the RBI board in place of Economic Affairs Secretary Rajiv Mehrishi. As per the convention, Economic Affairs Secretary besides the Financial Services Secretary is par...
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Income Tax |
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0 | Hits : 888
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MCA modified New version of Forms w.e.f 01st August 2015
Posted Date : 01-Aug-2015 , 07:49:21 am | Posted By CASANSAAR
Version of Forms Form 20B, Form 23AC, Form 21A, Form 23ACA, Form 66, Form 23ACA (XBRL), Form 4 LLP, Form FC-4, Form 23B, Form FC-1, are modified w.e.f 1st Aug 2015....
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MCA |
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0 | Hits : 1632
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Early Warning System to Detect NPAs
Posted Date : 31-Jul-2015 , 09:40:59 pm | Posted By CASANSAAR
State Bank of India (SBI) is in the process of putting in place a system of early warning signals to monitor performing of standard assets showing early signs of stress. Early Warning System (EWS) is a solution to identify borrowers in the bank’s portfolio showing early signs of stress and ena...
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NPA |
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0 | Hits : 1193
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Several Measures taken by the Government to Simplify Tax Payment and Stautory Filings
Posted Date : 31-Jul-2015 , 09:36:58 pm | Posted By CASANSAAR
With a view of minimize the cost of compliance of the taxpayers, the Central Board of Direct Taxes (CBDT) has taken several measures to make tax payment and statutory filings simple and convenient for the taxpayer, including-
· Onl...
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Income Tax |
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0 | Hits : 929
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Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Rules 2015 Notified
Posted Date : 31-Jul-2015 , 09:35:28 pm | Posted By CASANSAAR
The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Rules 2015 have been framed and notified on 2nd July, 2015 vide Notification No. 58/2015. The Rules inter-alia specify the form and manner in which declaration of undisclosed foreign asset is to be made. Rules also provide...
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Category :
Black Money |
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0 | Hits : 888
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Cases of Corporate Frauds/Chit Fund Scams Involving Companies
Posted Date : 31-Jul-2015 , 09:33:40 pm | Posted By CASANSAAR
The Ministry, during the last three years and current year, has ordered investigation into the affairs of 145 companies which were allegedly involved in illegal deposit taking activities. A State-wise list of these companies is enclosed as Annexure. In many of the cases where investigatio...
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Corporate Law |
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0 | Hits : 933
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Pass Percentage & Toppers of CA IPCC May 2015 Exam
Posted Date : 31-Jul-2015 , 09:28:02 pm | Posted By CASANSAAR
IPCC May 2015 Pass Percentage
IPCC pass percentage May 2015 will be declared after the declaration of the result of IPCC. So, come back later for IPCC may 2015 pass percentage.
Groups
Candidates appeared
Candidates Passed
Pass Perce...
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CA Exams |
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0 | Hits : 2062
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Just 17 individuals owe a whopping Rs 2.14 lakh crore tax arrears - FinMin
Posted Date : 31-Jul-2015 , 07:42:24 am | Posted By CASANSAAR
Just 17 individuals have a whopping Rs 2.14 lakh crore as outstanding tax arrears, with each of them owing more than Rs 1,000 crore.
This is more than double the amount of total tax dues worth Rs 90,568 crore outstanding against 35 companies in this category (with outstanding tax arrears of over ...
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Category :
Income Tax |
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0 | Hits : 1638
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CBDT Notifies new ITR forms 3, 4, 5, 6 and 7
Posted Date : 30-Jul-2015 , 04:41:12 pm | Posted By CASANSAAR
CBDT notifies new ITR forms 3, 4, 5, 6 and 7; mandates reporting of CSR exp. in ITR 6. Notification No. 61, Dated 29/07/2015.
S.O. 2070 (E).─ In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following...
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ITR |
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0 | Hits : 2505
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Government clears GST amendments, States to be compensated for 5 years
Posted Date : 30-Jul-2015 , 07:54:46 am | Posted By CASANSAAR
The Cabinet on Wednesday approved amendments to the GST (Goods and Services Tax) Bill to compensate states for revenue loss for five years on introduction of the uniform nationwide indirect tax regime, as has been suggested by the Rajya Sabha Select Committee.
The Union Cabinet, chaired by Prime ...
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GST |
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0 | Hits : 1406
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Taxpayer info to remain confidential - Central Information Commission (CIC)
Posted Date : 30-Jul-2015 , 07:39:41 am | Posted By CASANSAAR
The identity of taxpayers who opt for an advance pricing agreement (APA) in the field of transfer pricing will continue to remain confidential. Such information cannot be made available under the provisions of the Right to Information Act (RTI), according to the Central Information Commission (CIC)....
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Category :
Income Tax |
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0 | Hits : 925
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Website for downloading Result Card of CPT June, 2015 (Examination) - ICAI
Posted Date : 29-Jul-2015 , 11:54:09 pm | Posted By CASANSAAR
The Result Cards of Common Proficiency Test (CPT) have been hosted at www.icai.nic.in instead of www.icai.nic.in/cptresultcard (which was mentioned in the Information Brochure/Guidance Notes for CPT candidates published along with the Examination Application Forms of CPT June, 20...
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Category :
CA Exams |
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0 | Hits : 805
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Government Approves Seven (07) Proposals of Foreign Direct Investment (FDI) Amounting to Rs. 981.15 Crore Approximately
Posted Date : 29-Jul-2015 , 11:50:12 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its 220th meeting held on 3rd July 2015, Government has approved 07 proposals of Foreign Direct Investment amounting to Rs. 981.15crore approximately.
Details of Proposals considered in the For...
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International Business |
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0 | Hits : 871
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Timely Redressal of Tax Payer Grievances and Public Service Delivery
Posted Date : 29-Jul-2015 , 11:48:59 pm | Posted By CASANSAAR
Grievance redressal is a major aspect of citizen centric governance and is an important feature of the activities of the Income Tax Department. The Central Action Plan 2015-16 of the Income Tax Department released during the Annual General Conference of senior officers held on 25-26 May 2015, has st...
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Category :
Income Tax |
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0 | Hits : 857
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PNB identifies 400 wilful defaulters; to sell Rs 3,000 crore NPAs
Posted Date : 29-Jul-2015 , 07:12:16 am | Posted By CASANSAAR
Saddled with bad loans, PNB on Tuesday said it has reported to RBI 400 'wilful defaulters', and plans to sell Non Performing Assets worth up to Rs 3,000 crore to ARCs in the current fiscal.
"400 accounts are there (wilful defaulters) which we have reported to RBI so that it (list) ca...
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NPA |
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0 | Hits : 1241
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Sahara's Mutual Fund licence cancelled by SEBI
Posted Date : 29-Jul-2015 , 07:10:38 am | Posted By CASANSAAR
Securities and Exchange Board of India (SEBI) has cancelled Sahara Asset Management Company's license today, saying it is not fit to carry out the business of mutual fund.
Sahara's fund management license would reportedly stand cancelled two months from the date of the order.
...
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Shares & Stock |
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0 | Hits : 877
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SFIO to rope in chartered accountants for probe-related works
Posted Date : 28-Jul-2015 , 08:53:01 am | Posted By CASANSAAR
To bolster its capabilities in probing white collar crimes, the Serious Fraud Investigation Office (SFIO) will hire chartered accountants to help in matters related to forensic audit and financial data analysis.
SFIO, which comes under the Corporate Affairs Ministry, has been looking to rop...
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Chartered Accountant |
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0 | Hits : 1605
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RBI eases norms for liquidity operations
Posted Date : 28-Jul-2015 , 08:49:54 am | Posted By CASANSAAR
In a bid to simplify and smoothen liquidity management, the Reserve Bank of India (RBI) will process all bids at its daily fixed repo and reverse repo auctions and the Marginal Standing Facility auctions using straight through processing (STP) whereby the bank will get instant credit or debit of fun...
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RBI |
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0 | Hits : 774
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RBI eases norms for liquidity operations
Posted Date : 28-Jul-2015 , 08:48:56 am | Posted By CASANSAAR
In a bid to simplify and smoothen liquidity management, the Reserve Bank of India (RBI) will process all bids at its daily fixed repo and reverse repo auctions and the Marginal Standing Facility auctions using straight through processing (STP) whereby the bank will get instant credit or debit of fun...
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RBI |
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0 | Hits : 859
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Former president and Bharat Ratna Dr APJ Abdul Kalam dies in Shillong
Posted Date : 27-Jul-2015 , 09:24:15 pm | Posted By CASANSAAR
Former President Dr APJ Abdul Kalam died in Shillong on Monday after he collapsed during a lecture at the Indian Institute of Management in the Meghalaya capital. Kalam, who was the 11th President of India, was a very popular head of state between 2002 and 2007. He was also known as India's miss...
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Category :
General |
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0 | Hits : 887
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MCA allows filing of Unaudited Accounts of foreign subsidiaries with ROC
Posted Date : 27-Jul-2015 , 08:46:42 am | Posted By CASANSAAR
The Corporate Affairs Ministry (MCA) has relaxed the norms requiring Indian companies with overseas subsidiaries to file ‘audited’ financial statements of such foreign subsidiaries with the Registrar of Companies (RoC) in India.
After consulting with the CA institute, the Ministry h...
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MCA |
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0 | Hits : 1007
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30 per cent of lawyers in India are fake - Bar Council
Posted Date : 26-Jul-2015 , 04:38:36 pm | Posted By CASANSAAR
Thirty per cent of lawyers in the country are fake, possessing 'fraudulent' law degrees or non-practising persons, and were degrading the profession, Bar Council of India Chairman Manan Kumar Mishra has said.
He also said 20 per cent of persons sporting lawyers robes did not have proper l...
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Corporate Law |
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0 | Hits : 1493
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