Rajya Sabha panel gives nod for GST bill
Posted Date : 21-Jul-2015 , 08:31:36 am | Posted By CASANSAAR
A select committee of Rajya Sabha on Monday signed off on the goods and services tax (GST) bill, setting the stage for its introduction in the upper House and eventual implementation from 1 April 2016.
Passing the 122nd Constitution amendment bill in the Rajya Sabha in the first half of the monso...
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GST |
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SEBI asks AIFs to give full disclosure on Associates
Posted Date : 21-Jul-2015 , 08:22:53 am | Posted By CASANSAAR
Alternative investment funds (AIFs), having foreign entities as "associates", are rattled by the latest Securities and Exchange Board of India (Sebi) directive to disclose the entire disciplinary history of sponsors, managers, directors, partners, promoters and associates in their placemen...
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SEBI |
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Beware of fake mails regarding Job Openings
Posted Date : 20-Jul-2015 , 08:17:13 am | Posted By CASANSAAR
Respected Members,
We would like to aware you that there are some fake agencies who mail you the Job Appointment/Offer Letters in the name of some reputed companies and ask for some handsome amount from you (as a refundable security amount). And It will seem to you in a way t...
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General |
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0 | Hits : 1051
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Parliamentary panel readies report on GST, Govt gives in on major demand
Posted Date : 20-Jul-2015 , 08:09:49 am | Posted By CASANSAAR
A Parliamentary Committee, which scrutinised the crucial Goods and Services Tax (GST) Bill, has prepared a draft report wherein the government has agreed to provide compensation to states for any revenue loss for five years, thus giving in to one of the major demands from several opposition parties....
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GST |
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0 | Hits : 1044
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Pune bhelpuriwala's son clears CA exam in first attempt
Posted Date : 19-Jul-2015 , 10:53:41 pm | Posted By CASANSAAR
It was, in Mahesh Londhe’s words, “a typical Indian celebration with sweets,” after the 21-year-old, whose father hawks bhelpuri at Pune railway station, cleared the Chartered Accountancy (CA) final examination in the very first attempt.
The exam was held in May 2015, and resu...
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CA |
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0 | Hits : 1649
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Income tax dept to bring 1 cr new people under tax net this fiscal
Posted Date : 19-Jul-2015 , 10:13:37 pm | Posted By CASANSAAR
The Income Tax department has launched a drive with the aim of bringing one crore new taxpayers under its net, after the government recently asked the taxman to achieve the target within the current fiscal.
As part of government's initiative to broaden the tax base, the Central Board of Direc...
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Income Tax |
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1 | Hits : 1026
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CBDT warns of action against those disclosing secret information
Posted Date : 19-Jul-2015 , 10:03:54 pm | Posted By CASANSAAR
To protect confidentiality of tax information from abroad, the CBDT has warned of stern action against those making unauthorised disclosures as it amounts to breach of treaty commitments and cause embarrassment to the government.
The Central Board of Direct Taxes (CBDT) said the confidentiality o...
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Income Tax |
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0 | Hits : 1059
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ICAI Elections - Option of choosing Polling booth near to your Office or Work Place
Posted Date : 18-Jul-2015 , 09:03:47 am | Posted By CASANSAAR
ICAI ELECTION 2015
Option for Polling Booths in Bangalore, Delhi/New Delhi, Mumbai and Kolkata Cities.
The next elections to the Council and the Regional Councils of the Institute of Chartered Accountants of India are scheduled to be held on 4 th and 5 th December, 2015 in cities having ...
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ICAI Election |
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0 | Hits : 3627
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Complaints regarding Unsolicited SMSs and emails being received by members from prospective candidates - ICAI
Posted Date : 18-Jul-2015 , 08:58:00 am | Posted By CASANSAAR
ICAI ELECTION - 2015
16th July, 2015
APPEAL TO MEMBERS
For Attention of Members and prospective candidates for election to the Council and Regional Councils, 2015
Sub: Unsolicited SMSs and emails being received by members from prospective candidates
The election to the...
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ICAI Election |
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0 | Hits : 1375
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New guidelines for scrutiny of service tax returns from August
Posted Date : 18-Jul-2015 , 08:51:06 am | Posted By CASANSAAR
There will now be detailed manual scrutiny of service tax returns of assesses based on risk parameters by the Central Board of Excise and Customs (CBEC), under revised 2009 guidelines.
CBEC, the Finance Ministry said, has these revised guidelines, to come to effect from August 1, in view of...
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Service Tax |
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0 | Hits : 1349
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Govt to announce interest subvention scheme for exporters
Posted Date : 18-Jul-2015 , 08:47:11 am | Posted By CASANSAAR
Government will soon announce interest subvention scheme for exporters. Commerce and Industry Minister Nirmala Sitharaman said at a function in New Delhi today that the scheme will give encouragement to sectors that have high potential. She said exports are largely suffering because international de...
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International Business |
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0 | Hits : 904
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RBI issues new guidelines for Concurrent Audit of Bank Branches
Posted Date : 17-Jul-2015 , 08:50:49 am | Posted By CASANSAAR
The Reserve Bank on Thursday said the concurrent audit at bank branches should cover at least half of their advances and deposits.
The concurrent audit system is regarded as part of a bank's early warning system to ensure timely detection of irregularities and lapses.
"Concurrent audi...
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Bank Branch Audit |
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0 | Hits : 4788
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SBI puts loan accounts worth Rs.4400 crore on sale for ARCs
Posted Date : 17-Jul-2015 , 08:14:52 am | Posted By CASANSAAR
State Bank of India (SBI) has put 66 loan accounts, with loans worth Rs.4,400 crore, for sale to asset reconstruction companies (ARCs) in July, a senior official at the bank confirmed.
According to the official, who spoke on condition of anonymity, most of these accounts are small and medium...
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Banking |
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0 | Hits : 941
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CCI issues order against Public Sector Insurance Companies for Bid Rigging
Posted Date : 17-Jul-2015 , 07:54:20 am | Posted By CASANSAAR
The Competition Commission of India(CCI)has imposed a total penalty of Rs. 671.05 crores upon4 Public Sector Insurance Companies for manipulating the bidding process initiated by Government of Kerala for selecting insurance service provider for RashtriyaSwasthyaBimaYojna for the years 2010-11, 2011-...
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Corporate Law |
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0 | Hits : 903
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Cabinet gives nod to foreign investment composite cap
Posted Date : 16-Jul-2015 , 05:18:27 pm | Posted By CASANSAAR
In a bid to streamline the FDI structure, the government on Thursday introduced a composite foreign investment cap by clubbing all forms of overseas investments to define sectoral limits.
Briefing reporters after the Cabinet meeting, Finance Minister Arun Jaitley said that “from...
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International Business |
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0 | Hits : 897
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CA Final May 2015 & CPT June 2015 Exams Pass Percentage & Toppers
Posted Date : 16-Jul-2015 , 03:48:50 pm | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) today announced the following results
1) Chartered Accountants Final Examination held in May, 2015.
2) Common Proficiency Test held on...
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CA Results |
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0 | Hits : 3792
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Good Luck - CA Final Exam, ISA Exam & CPT Results 2015 Likely to be announced today
Posted Date : 16-Jul-2015 , 07:34:42 am | Posted By CASANSAAR
The results of CA Final Examination held in May 2015, ISA AT Exam and the Common Proficiency Test (CPT) held in June this year, will be declared on Thursday, 16 July at 2pm. - Good Luck to all.
"The Institute of Chartered Accountants of India (ICAI) is going to release result of the C...
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CA Results |
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0 | Hits : 1676
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SEBI may take action against companies for not hiring female director
Posted Date : 16-Jul-2015 , 07:21:32 am | Posted By CASANSAAR
Market regulator Sebi may take action against companies who have not appointed women directors on their boards to meet the requirements of the new Companies Act.
Earlier this week, stock exchanges fined over 500 listed companies who had not complied. "As per the provisions of the Sebi circul...
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SEBI |
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0 | Hits : 972
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RBI sets up panel for action plan on financial inclusion
Posted Date : 15-Jul-2015 , 10:35:04 pm | Posted By CASANSAAR
The Reserve Bank of India has set up a committee to work out a five-year action plan to spread the reach of financial services to unbanked population. According to a press release issued by RBI today, the 14-member panel, to be headed by RBI executive director Deepak Mohanty, will review the existin...
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RBI |
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0 | Hits : 905
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Petrol price in Delhi raised by Rs 2.78 per ltr & Decreased by Rs.2.00/- across India
Posted Date : 15-Jul-2015 , 10:28:20 pm | Posted By CASANSAAR
Petrol and diesel prices have been cut by Rs 2 per litre, excluding local levies, with effect from midnight tonight pan-India.
Earlier in the evening, petrol and diesel prices were hiked in the national capital with the Aam Aadmi Party (AAP) government ordering an increase in VAT rate...
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General |
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High Court restrains OPJS University from admitting students in its CA Degree Courses & awarding such degrees
Posted Date : 15-Jul-2015 , 08:37:43 am | Posted By CASANSAAR
ANNOUNCEMENT
It was brought to the notice that OPJS University, Churu (Rajasthan), is offering/conducting certain programmes/courses under the nomenclature “Master in CA.” and “Bachelor in C.A.” (under the School of Chartered Accountant). Conduct of such courses u...
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CA |
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0 | Hits : 1739
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Bank of India reports RBI against its Auditors after making losses
Posted Date : 15-Jul-2015 , 08:27:30 am | Posted By CASANSAAR
Irked by the stringent auditing of its earnings for the quarter ended March this year, state-run Bank of India (BoI) has written to the Reserve Bank of India (RBI), saying its auditors didn’t allow the loan to Essar Steel to be treated as standard, while most other lenders were allowed to.
...
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Auditing |
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3 | Hits : 3155
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Commencement of Electronic Verification of Income Tax Returns for AY 2015-16
Posted Date : 14-Jul-2015 , 10:37:30 pm | Posted By CASANSAAR
To facilitate the taxpayers and to provide end-to-end e-enabled services, the Income Tax Return for A.Y. 2015-16 can now be verified electronically.
A taxpayer may verify his return through Internet Banking or through Aadhar based authentication process. Persons using this facility wi...
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ITR |
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0 | Hits : 1395
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Clarification on Reports Appearing on Black Money Act
Posted Date : 14-Jul-2015 , 10:35:23 pm | Posted By CASANSAAR
Over last few days a number of reports have appeared in the media expressing views and concerns regarding the applicability of various provisions of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act 2015.
Some of the views expressed in these reports are based...
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Black Money |
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0 | Hits : 858
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Service Charges Collected by Restaurants/Hotels/Eateries are Not Service Tax
Posted Date : 14-Jul-2015 , 10:33:21 pm | Posted By CASANSAAR
Service Charges Collected by Restaurants/Hotels/Eateries Retained by the Restaurants/Hotels/Eateries and are Not ‘Service Tax’ Imposed by the Government
Some restaurants/hotels/eateries besides charging for the food and beverages are also charging ‘service charges&...
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Service Tax |
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0 | Hits : 1329
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Don't allow yourselves to be bullied: CAG to Auditors
Posted Date : 14-Jul-2015 , 08:32:20 am | Posted By CASANSAAR
CAG Shashi Kant Sharma today said auditors should neither allow themselves to be bullied by entities they are scrutinising nor take their non-cooperation lying down.
While inaugurating the UN Audit Training Programme here, the Comptroller and Auditor General (CAG) of India advised...
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Category :
Auditing |
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0 | Hits : 1310
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File appeals on merit: CBDT to taxmen
Posted Date : 14-Jul-2015 , 08:28:43 am | Posted By CASANSAAR
Disapproving of the 'casual' attitude of taxmen in filing appeals and pursuing litigation in important revenue matters, the CBDT has asked the I-T department to take legal recourse only in "deserving" cases.
In a departmental communication issued early this month, the Central Bo...
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CBDT |
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0 | Hits : 932
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No need to post e-filed Income Tax returns
Posted Date : 14-Jul-2015 , 08:20:24 am | Posted By CASANSAAR
In a relief to taxpayers, the government on Monday put in place a new system of e-filing of returns using a 10-digit electronic verification code (EVC) or one-time password (OTP) that can be generated using net banking, ATMs, Aadhaar, your registered mobile as well as the income tax department's...
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ITR |
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1 | Hits : 1634
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BSE notice to 530 firms for non-compliance on women directors
Posted Date : 13-Jul-2015 , 10:10:21 pm | Posted By CASANSAAR
Top bourse BSE has issued notices to 530 companies with regard to imposition of fines for not complying with Sebi norms to appoint at least one woman director on their respective boards within the prescribed timelines.
The capital markets watchdog had issued guidelines in February last year askin...
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Corporate Law |
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0 | Hits : 1003
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ICAI to help Indian Railways move to accrual accounting system
Posted Date : 13-Jul-2015 , 09:12:30 am | Posted By CASANSAAR
Apex body of chartered accountants ICAI is closely working with Indian Railways to help migrate its accounting system to the more transparent "accrual" format.
Under the accrual basis, revenues and expenses are reported in an income statement during the period when that ...
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ICAI |
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0 | Hits : 1083
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