After CAG rap, CBDT asks its audit wing to plug holes
Posted Date : 13-Aug-2015 , 08:56:31 am | Posted By CASANSAAR
After reports of deficiencies in assessment orders of top corporate cases, the Central Board of Direct Taxes (CBDT) has asked its internal audit wing to take up top 100 cases under each commissioner to mandatorily audit their assessment orders every year.
The Comptroller and Auditor General...
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CBDT |
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Haryana asks dealers to submit correct PAN details for GST
Posted Date : 13-Aug-2015 , 08:36:15 am | Posted By CASANSAAR
Even as the GST roll-out from next fiscal remains "unclear", the Haryana government has asked traders to furnish correct Permanent Account Number (PAN) details for the allotment of Goods and Services Tax Identification Number (GSTIN).
The move comes as part of state gove...
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PAN |
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Pay income tax dues in advance at RBI or authorised bank branches - RBI
Posted Date : 13-Aug-2015 , 08:30:10 am | Posted By CASANSAAR
Reserve Bank on Wednesday asked income tax assessees to pay theirincome tax dues in advance at RBI or any authorised bank branches including that of SBI, ICICI, HDFC Bank, PNB and Axis Bank.
It has been observed that rush for remitting income tax dues through the RBI ha...
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Income Tax |
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0 | Hits : 1101
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India-born Sundar Pichai appointed the new CEO of Google
Posted Date : 12-Aug-2015 , 08:50:01 am | Posted By CASANSAAR
India-born Sundar Pichai has been named CEO of Google as part of a surprise corporate overhaul that saw the search giant forming a new parent company called Alphabet Inc.
Pichai, 43, the current company vice-president, has worked on some of the company's best-known products, from the Ch...
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International Business |
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0 | Hits : 1156
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Facility for Downloading the Statements of Marks relating to Intermediate (IPC) Examination held in May, 2015 - ICAI
Posted Date : 12-Aug-2015 , 08:30:37 am | Posted By CASANSAAR
11th August, 2015Statements of Marks relating to Intermediate (IPC) Examination held in May, 2015
Physical copies of statement of marks in respect of Intermediate (IPC) Examination held in May, 2015, in the standard printed stationery are under dispatch, in the normal course.
In addition to th...
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CA Exams |
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SC says Aadhar not mandatory for availing welfare schemes of govt
Posted Date : 11-Aug-2015 , 09:44:21 pm | Posted By CASANSAAR
The Supreme Court today ruled that Aadhar is not mandatory for availing various welfare schemes of the government. The court made it clear that even for availing facilities PDS, kerosene and LPG distribution system the card will not be mandatory. It barred the authorities from sharing personal biome...
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Income Tax |
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0 | Hits : 855
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SEBI notifies Fast-Track route for share sales
Posted Date : 11-Aug-2015 , 09:42:48 pm | Posted By CASANSAAR
To boost fund raising from markets, Sebi today notified new norms, which will provide all listed companies a 'fast-track' route for share sales.
As per the new norms, firms in which public shareholders own stocks worth Rs 1,000 crore will now be able to access this route through a f...
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SEBI |
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0 | Hits : 942
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GST rollout difficult from April if bill not passed now
Posted Date : 11-Aug-2015 , 09:40:50 pm | Posted By CASANSAAR
It will become "very difficult" to roll out the new indirect tax regime by the April 2016 target if GST bill is not passed in the current session of Parliament, Chairman of Empowered Committee of State Finance Ministers K M Mani said on Tuesday.
He added however that in case the passage...
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GST |
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0 | Hits : 832
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Supreme Court stays levy of service tax on lawyers
Posted Date : 11-Aug-2015 , 07:45:19 am | Posted By CASANSAAR
The Supreme Court on Monday stayed the Bombay high court order dismissing a challenge to the levy of service tax on lawyers.
A bench comprising chief justice H.L. Dattu, justice Amitava Roy and justice Arun Mishra tagged the matter with similar petitions before the apex court. It also stayed th...
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Service Tax |
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1 | Hits : 1960
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Govt lists GST Bill for passage in Rajya Sabha today
Posted Date : 11-Aug-2015 , 07:40:41 am | Posted By CASANSAAR
The government will today bring the much-awaited bill on GST for passage in the Rajya Sabha even as doubts persist if the Opposition Congress will allow passage of the Constitution Amendment Bill.
The Revised List of Business of Rajya Sabha said Finance Minister Arun Jaitley will move...
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GST |
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0 | Hits : 967
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Indian Railway Finance Corporation (IRFC) to Issue Rs 6,000-Cr Tax-Free Bonds
Posted Date : 11-Aug-2015 , 07:28:24 am | Posted By CASANSAAR
Indian Railway Finance Corporation (IRFC) would raise Rs 6,000 crore through tax-free bonds in the current fiscal year, the Lok Sabha was informed on Monday.
IRFC has been authorised by the Railway Ministry to issue tax-free bonds for a total amount of Rs 6,000 crore during FY16 through public is...
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Income Tax |
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0 | Hits : 944
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No extension of black money compliance window - CBDT
Posted Date : 11-Aug-2015 , 07:18:30 am | Posted By CASANSAAR
The government on Monday sought to deliver a strong message to black money holders and ruled out any extension of the ongoing compliance window expiring on September 30 for disclosing tax evaded wealth kept abroad by individuals and entities. Central Board of Direct Taxes chairperson Anita...
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Black Money |
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0 | Hits : 1014
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Procedure for Verification of Answer Books of CA Students Examinations and Post Qualification Courses Examinations
Posted Date : 11-Aug-2015 , 07:04:18 am | Posted By CASANSAAR
Procedure for Verification of Answer Books of Chartered Accountants Students Examinations and Post Qualification Courses Examinations.
A- STUDENTS EXAMINATIONS
An examinee of CA examinations can apply for verification of his/her answer books/OMR Answer Sheet, either physically in his/her own h...
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CA Exams |
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0 | Hits : 1622
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Black money law: CAs & Assessees riled over ambiguity in rules
Posted Date : 10-Aug-2015 , 07:44:51 am | Posted By CASANSAAR
New Delhi is slowly coming under pressure to remove the anomalies in black money rules as more and more people ask for a realistic law that would encourage disclosure of foreign assets and not unleash a reign of tax terror.
Members of the apex body of accounting professionals, the Institute of Ch...
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Black Money |
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2 | Hits : 1474
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Crime Branch Raid on CA of Godman's Trust
Posted Date : 09-Aug-2015 , 09:47:36 pm | Posted By CASANSAAR
The Crime Branch (CB) on Saturday searched the Kendrapara-based house and office of a Chartered Accountant (CA) who was engaged by Satyam Charitable Trust and collected documents to probe the financial transactions of self-styled godman Sarathi Baba alias Santosh Raula.
The agency is looking in...
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CA |
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0 | Hits : 2014
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Government Notifies Changes in Rules for Foreign Account Tax Compliance Pact
Posted Date : 09-Aug-2015 , 09:23:07 pm | Posted By CASANSAAR
The Revenue Department has amended income tax rules to provide for reporting of information with regards to financial assets and accounts, a month after India signed a tax information sharing agreement with the US.
On July 9, India and the US signed tax agreement under the Foreign Account Tax Com...
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International Taxation |
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0 | Hits : 1141
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OTP-based ITR filing system for taxpayers starts on high note
Posted Date : 09-Aug-2015 , 09:20:30 pm | Posted By CASANSAAR
The Income Tax department's OTP-based ITR filing system for taxpayers has started on a high note with its portal electronically verifying over 7.5 lakh returns and linking over 11 lakh Aadhaar numbers with the PAN database.
The new e-filing system, enabled last month, allows online veri...
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ITR |
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0 | Hits : 1372
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CBDT signs first rollback advance pricing pact
Posted Date : 07-Aug-2015 , 10:02:35 pm | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has signed the first "rollback" unilateral advance pricing agreement (APA) with two multinational companies earlier this week, it was announced on Thursday.
"With this, the CBDT has so far signed 14 APAs of which 13 are unilateral ...
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Category :
Income Tax |
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0 | Hits : 854
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Ease of Doing Business/Use of INC - 29 for Formation of Company - ICAI
Posted Date : 07-Aug-2015 , 09:29:24 pm | Posted By CASANSAAR
For ease of doing business, Ministry of Corporate Affairs has introduced a simplified Incorporation Form-INC-29. The form offers a number of advantages over traditional incorporation forms in terms of reduced number of procedures, time taken and the cost involved in getting approval. With this integ...
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ICAI |
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0 | Hits : 1178
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Service tax on mutual fund distribution to be paid by AMCs
Posted Date : 07-Aug-2015 , 08:05:44 am | Posted By CASANSAAR
The confusion about service tax on mutual fund distribution has been laid to rest. An advertisement in newspapers on Thursday has finally clarified the position of who should pay service tax on services provided by mutual fund distributors.
The advertisement issued by the Central Board of Excis...
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Service Tax |
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0 | Hits : 1313
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RBI allows banks to shift, merge or shut urban branches
Posted Date : 07-Aug-2015 , 08:01:05 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Thursday allowed banks to shift, merge or close branches in urban areas without seeking its prior permission.
In a notification on its website, RBI said banks can “shift, merge or close all branches except rural branches and sole semi-urban branches at t...
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RBI |
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0 | Hits : 1203
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Lok Sabha Passes Bill to Deal with Cheque Bounce Cases at Clearance
Posted Date : 06-Aug-2015 , 10:21:49 pm | Posted By CASANSAAR
The Lok Sabha today passed a bill that will allow filing a case of cheque bounce at the place it is presented for clearance and not the place of issue.
The amendments in the Negotiable Instruments Act will have implications for over 18 lakh cheque bounce cases pending in various courts, Minister ...
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Banking |
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0 | Hits : 1241
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CBDT Signs Advance Pricing Agreements (APAs) to Usher in Certainity in Taxation
Posted Date : 06-Aug-2015 , 10:18:58 pm | Posted By CASANSAAR
As a part of a major initiative to usher in certainty in taxation, the Central Board of Direct Taxes (CBDT) entered into two unilateral Advance Pricing Agreements (APAs) on 3 August, 2015 with two Multi-National Companies (MNCs) which includes the first APA with a “Rollback” provision. W...
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CBDT |
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0 | Hits : 918
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Need to Rewrite Poorly-Drafted Companies Act: ICICI Bank Chairman
Posted Date : 06-Aug-2015 , 09:06:01 am | Posted By CASANSAAR
In a strong criticism of the "poorly-drafted" Companies Act, ICICI Bank's newly appointed chairman, M K Sharma, has said that tightening of norms has made it a "curse" to be a promoter and everyone is being made to pay because of a few cases like Satyam and Sahara.
Mr Shar...
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Companies Act |
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0 | Hits : 1379
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RBI warns banks against under-declaring bad loans
Posted Date : 06-Aug-2015 , 08:55:14 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has warned banks against under-declaring non-performing assets (NPAs) and on ever-greening of accounts to prevent them from slipping into default.
RBI governor Raghuram Rajan said, "We are increasingly turning towards taking action on such divergen...
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RBI |
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0 | Hits : 1013
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SEBI asks cos to make more disclosures about pledged shares
Posted Date : 06-Aug-2015 , 08:50:40 am | Posted By CASANSAAR
Capital markets regulator SEBI has directed promoters of companies to give reasons for pledging their shares when they disclose creation of a pledge/ encumbrance to stock exchanges.
This, SEBI said, would ensure that adequate disclosures are made to help investors take informed decisions. Modif...
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SEBI |
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0 | Hits : 823
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ICAI Election 2015 - Inclusion of E-mail address in the List of Voters
Posted Date : 05-Aug-2015 , 10:24:43 pm | Posted By CASANSAAR
As you may be aware, the next Elections to the Council and Regional Councils are scheduled to be held on 4th and 5th December, 2015 in cities having 2500 or more members and on 5th December, 2015 in other cities/towns having 25 members in the city concerned or within a distance of 50 ...
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ICAI Election |
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ICAI Election Procedure - Series 1
Posted Date : 05-Aug-2015 , 09:23:14 am | Posted By CASANSAAR
ICAI Election Procedure - Series 1 by CA.KHURANA VIVEK (Founder) www.casansaar.com
Every three year ICAI conducts ICAI Elections for its office bearers. This time its on 4th, 5th December 2015.
As the elections for the ICAI are expected to be held on 4th and 5th December 2015, it is...
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Category :
ICAI Election |
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1 | Hits : 5418
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SEBI alerts investors against open offers from companies
Posted Date : 05-Aug-2015 , 08:38:12 am | Posted By CASANSAAR
Markets regulator SEBI Tuesday asked investors to be 'alert' about public announcements of share purchase plans of the companies where they have invested.
A company needs to issue a 'public announcement' in newspapers and through stock exchanges for the benefit of investors whenev...
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SEBI |
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0 | Hits : 936
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FinMin to issue more FAQs on black money
Posted Date : 05-Aug-2015 , 08:29:51 am | Posted By CASANSAAR
The government will issue another set of clarifications in the form of ‘Frequently Asked Questions (FAQs)’ on the Undisclosed Foreign Income and Assets Act, popularly known as the Black Money Act.
This is after a number of queries to the tax department since its earlier clarifications...
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Category :
Black Money |
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0 | Hits : 1005
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