NGOs will have to give details of social media accounts to Govt
Posted Date : 20-Jun-2015 , 08:48:48 am | Posted By CASANSAAR
NGOs in India will have to provide the Home Ministry with details of their social media accounts.
The amendment to the Foreign Contribution Rules of 2011 states that the government will have to be told about the social media accounts being run by the NGOs.
Further the government would expect t...
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NGO |
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CA Nilesh Vikamsey appointed as Federal Bank's part-time Chairman
Posted Date : 20-Jun-2015 , 08:44:23 am | Posted By CASANSAAR
CA Nilesh Shivji Vikamsey has been appointed as part-time Chairman of Federal Bank.
Vikamsey, who will assume office tomorrow, succeeds Abraham Koshy, who retired from the Board of Federal Bank last month on completion of his term of eight years.
"...RBI has accorded its approval, for app...
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CA |
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E-commerce portals to file tax returns every quarter
Posted Date : 19-Jun-2015 , 08:18:06 am | Posted By CASANSAAR
In a first for the city, Delhi government's Value Added Tax department has decided to bring all big and small players on e-commerce platforms under the scanner to check evasion of tax.
A notification is under way to make it mandatory for all online portals like Flipkart and Snapdeal to file t...
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VAT |
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Railways to hire Big4 Audit Firms to rationalize staff strength
Posted Date : 18-Jun-2015 , 08:14:18 am | Posted By CASANSAAR
Railways to hire Big4 Audit Firms to rationalize staff strength.
The railways has taken the first step in its bold decision to rationalize staff strength with the state-run transporter shortlisting four private audit companies to initiate the move.
One of the four private companies short...
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Auditing |
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New Banks : Bandhan Bank to begin operations from 23 August
Posted Date : 18-Jun-2015 , 07:23:29 am | Posted By CASANSAAR
Bandhan Financial Services Pvt. Ltd will start full-fledged commercial banking operations on 23 August.
Kolkata-based Bandhan got the final Reserve Bank of India (RBI) approval to start commercial banking operations on Wednesday.
So far, it had “in principle” approva...
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Banking |
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FM approves the formation of 2 Committees for facilitating implementation of GST from 1.4.2016.
Posted Date : 18-Jun-2015 , 07:09:38 am | Posted By CASANSAAR
Finance Minister has approved the formation of 2 Committees for facilitating implementation of Goods and Services Tax from 1.4.2016.
A Steering Committee been formed under the Co-Chairmanship of Additional Secretary, Department of Revenue and Member Secretary, Empowered Committee of State F...
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GST |
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Fake currency worth over Rs 1 cr recovered from HDFC Bank
Posted Date : 17-Jun-2015 , 09:28:03 pm | Posted By CASANSAAR
In Haryana, fake currency worth more than a crore has been recovered from an HDFC bank chest located on Golf Course Road at Gurgaon. An FIR has been lodged on the complaint of the chest manager Umesh Sharma at the Sushant Lok police station.
The bank has submitted currency notes worth Rs 1,04,76,...
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Black Money |
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0 | Hits : 1440
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President Pranab Mukherjee Promulgates Ordinance to Tackle Cheque Bounce Cases
Posted Date : 17-Jun-2015 , 09:23:14 pm | Posted By CASANSAAR
An ordinance that will allow filing of cheque bounce case at the place where the cheque was presented for clearance has been promulgated by President Pranab Mukherjee.
The President has promulgated the Negotiable Instruments (Amendment) Ordinance, 2015, on Monday that will help lakhs of persons b...
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Corporate Law |
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0 | Hits : 865
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Smart and intelligent database soon to check income tax evasion
Posted Date : 17-Jun-2015 , 01:40:23 pm | Posted By CASANSAAR
A new “smart and intelligent” database is being set up in the Income Tax department to help check tax evasion, a “menace” that is “spoiling” compliance culture, a top CBDT official said today.
The database will immensely improve “mining” of data a...
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Income Tax |
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0 | Hits : 1229
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Standards adopted by RBI compliant with Basel standards
Posted Date : 17-Jun-2015 , 01:36:01 pm | Posted By CASANSAAR
The standards adopted by the Reserve Bank of India (RBI) with regard to risk-based capital requirements are 'compliant' with minimum Basel capital standards, the central bank said on Tuesday.
RBI in a release said that the Basel Committee on Banking Supervision (BCBS) under th...
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RBI |
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0 | Hits : 908
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SEBI issues new disclosure norms for ESOP schemes
Posted Date : 17-Jun-2015 , 01:31:53 pm | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) issued a circular on detailed disclosure norms for listed firms while exercising employee stock options programmes (Esop) to address concerns regarding potential market abuse.
The norms stipulate that the compensation committee constituted by comp...
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SEBI |
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No coercion by taxmen to recover MAT dues, says CBDT
Posted Date : 17-Jun-2015 , 01:27:04 pm | Posted By CASANSAAR
In a breather for investors, Central Board of Direct Taxes, CBDT said taxmen will not resort to coercive methods to recover dues towards Minimum Alternate Tax, MAT on capital gains made by Foreign Institutional Investors. The Board said it will wait for the Supreme Court order on the issue. CBDT Cha...
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CBDT |
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CBDT transferred 240 Principal Commissioners of Income Tax
Posted Date : 16-Jun-2015 , 08:59:38 am | Posted By CASANSAAR
CBDT transferred 240 Principal Commissioners of Income Tax.
In a major reshuffle of senior Indian Revenue Service (IRS) officers across the country, the Central Board of Direct Taxes (CBDT) on Monday transferred 240 Principal Commissioners of Income Tax (PCIT).
The transfer comes in the ba...
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CBDT |
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Download ISA-AT June, 2015 Admit Cards online - ICAI
Posted Date : 15-Jun-2015 , 10:21:12 pm | Posted By CASANSAAR
Admit Cards for the Information Systems Audit Assessment Test (ISA-AT) scheduled to be held on 27th June, 2015 have been hosted at http://isaat.icaiexam.icai.org. Please visit the site and download the same.
CA EXAM DEPTT.
...
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CA Exams |
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0 | Hits : 1012
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CASANSAAR Free Placement Cell for CA, CS, CMAs (For Job Seekers & Job Recruiters)
Posted Date : 15-Jun-2015 , 09:03:36 am | Posted By CASANSAAR
CASANSAAR had launched the CASANSAAR Free Placement Cell for CA, CS, CMAs. This Cell will assist Job Seekers & Job Recruiters for best fit..
If you have requirement of CA / CS / CMA's in your office / Firm / Company then you can contact CA...
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CA |
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0 | Hits : 2353
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Interviews for CEO posts at five PSU banks start on Monday
Posted Date : 15-Jun-2015 , 08:47:29 am | Posted By CASANSAAR
In a first for state-owned banks, candidates from private sector banks have been shortlisted for interviews, for the post of chief executive officer (CEO) and managing director (MD) at five large banks, beginning Monday.
As many as 26 candidates, including executives from private sector banks, ar...
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Category :
Income Tax |
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0 | Hits : 1035
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Govt asks Income Tax officers for ideas to widen tax base
Posted Date : 15-Jun-2015 , 08:40:35 am | Posted By CASANSAAR
The government has asked senior Income Tax (I-T) department officers to individually contribute at least three innovative ideas, to widen the tax base.
A senior official said a direction in this regard was given by Union Minister of State for Finance Jayant Sinha during the recently con...
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Income Tax |
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0 | Hits : 844
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ICAI ask for suggestions from Members on the CSR activities that can be undertaken by them as CAs/CA Firms
Posted Date : 13-Jun-2015 , 09:03:06 am | Posted By CASANSAAR
ICAI ask for suggestions from Members on the various CSR activities that can be undertaken by them as CAs/CA Firms.
Corporate Social Responsibility (CSR) is very vital in the present context of businesses. It is viewed as one of the most essential drivers while laying down the business plans and ...
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CA Firms |
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0 | Hits : 1331
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RBI Issues Final Guidelines for Interest Rate Futures
Posted Date : 13-Jun-2015 , 08:56:16 am | Posted By CASANSAAR
RBI issued final guidelines for the 6-year and 13-year cash settled interest rate futures (IRF).
"The final guidelines for introduction of the 6-year and the 13-year cash settled IRF on government securities with residual maturity of 4-8 years and 11-15 years, respectively have been issued,&...
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RBI |
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MCA issues revised e-forms for Cost Audit
Posted Date : 13-Jun-2015 , 08:53:20 am | Posted By CASANSAAR
The government today issued revised forms for companies’ statutory filings on appointment of cost auditors and for the cost audit reports, while deadlines have also been extended for such submissions.
The new e-forms — CRA-2 and CRA-4 — have been notified by the Corporate Affa...
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Auditing |
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An account becoming NPA is not a SIN - RBI to Banks
Posted Date : 12-Jun-2015 , 08:37:41 am | Posted By CASANSAAR
Reserve Bank of India has made a case for developing better strategies to deal with the problem of bad loans as hiding them would aggravate the situation for the banks as well as borrowers.
"An account becoming NPA is not a sin. The time has come that it would be a better strategy that if ...
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NPA |
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0 | Hits : 1492
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Utility Bills Valid Proof of Address to Open Account: RBI
Posted Date : 12-Jun-2015 , 08:21:49 am | Posted By CASANSAAR
Bills for postpaid mobile service, piped gas and water supply can now be submitted as proof of address for opening account with banks or other financial institutions, the Reserve Bank of India said on Thursday.
"Utility bill which is not more than two months old of any service provider (elec...
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RBI |
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0 | Hits : 1532
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RBI permits NRIs to invest in Chit Funds
Posted Date : 12-Jun-2015 , 08:14:51 am | Posted By CASANSAAR
The Reserve Bank India (RBI) has permitted non-resident Indians (NRIs) to invest in regulated chit funds. This permission comes with riders. Indians abroad can subscribe to chit funds through banking channels, including accounts maintained in India.
The state governments or Registrar of Chits may...
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RBI |
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0 | Hits : 1066
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Income tax department to address taxpayers grievances in time
Posted Date : 11-Jun-2015 , 08:26:53 am | Posted By CASANSAAR
In order to aggressively mitigate grievances of taxpayers, CBDT has asked the taxman to address rectification applications filed by affected assesses in a prompt and time-bound manner.
An application for rectification of an order issued by the Income Tax department's Assessing Offic...
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Income Tax |
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0 | Hits : 1071
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Proposal to promulgate the Negotiable Instruments (Amendment) Ordinance, 2015
Posted Date : 10-Jun-2015 , 10:34:01 pm | 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 : 942
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CBDT advises Income Tax officials to be strict towards illegal charity
Posted Date : 09-Jun-2015 , 09:13:46 pm | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has asked the Income Tax department officials to take strict actions against those who are seeking illegal tax exemptions from the government in the name of charity.
Guiding the I-T officials, the apex policy making body of the tax department has tol...
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Income Tax |
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0 | Hits : 1181
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Service Tax Clarification - Service Tax only in AC restaurants; effective rate 5.6%
Posted Date : 09-Jun-2015 , 06:35:23 pm | Posted By CASANSAAR
Service Tax Clarification - Service Tax only in AC restaurants; effective rate 5.6%
Restaurants without air conditioning facility will not charge any service tax from their customers while the ones with ACs will charge only on the 40% of the total bill amount, the finance ministry said on Tuesd...
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Service Tax |
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0 | Hits : 1914
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Banks can bring in foreign promoters after taking over defaulting companies: RBI
Posted Date : 09-Jun-2015 , 08:10:30 am | Posted By CASANSAAR
The RBI on Monday unveiled the much-talked-about "strategic debt restructuring" scheme which paves the way for banks to trigger a change in management of chronically defaulting companies. New norms announced by the RBI allowing banks to convert debt of defaulting companies into equity also...
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RBI |
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CBDT Clarifies Regarding Prosecution of Tax Evaders
Posted Date : 09-Jun-2015 , 07:46:02 am | Posted By CASANSAAR
CBDT Clarifies Regarding Prosecution of Tax Evaders;
Effective and Stringent Action only in known and big cases of Tax Evasion to Demonstrate to the Large Number of Compliant Tax Payers that the Tax Laws are just and Fair and to Encourage Voluntary Tax Compliance
It has been ...
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CBDT |
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0 | Hits : 1106
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ICAI Clarification/Corrigendum over the Cover page of June 2015 issue of The Chartered Accountant Journal
Posted Date : 08-Jun-2015 , 10:22:08 pm | Posted By CASANSAAR
ICAI Clarification/Corrigendum over the Cover page of June 2015 issue of The Chartered Accountant Journal
We wish to clarify to the members, students and other readers of The Chartered Accountant journal that the cover page of the June 2015 issue of the journal is a mere artistic depi...
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ICAI |
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