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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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 : 1229
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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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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 : 1369
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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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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 : 818
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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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0 | Hits : 2007
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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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ICAI Election |
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1 | Hits : 5412
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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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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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Black Money |
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0 | Hits : 998
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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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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 : 734
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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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Black Money |
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0 | Hits : 916
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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 : 955
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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 : 808
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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 : 817
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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 : 1208
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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 : 1452
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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 : 897
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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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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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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 : 944
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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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Black Money |
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0 | Hits : 898
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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 : 964
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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 : 2074
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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 : 1650
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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 : 2519
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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 : 1421
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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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Income Tax |
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0 | Hits : 935
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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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CA Exams |
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0 | Hits : 816
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