TDS - No TDS on Recurring Deposits
Posted Date : 24-Apr-2015 , 10:12:57 pm | Posted By CASANSAAR
TDS on Recurring Deposits
The Government proposes to promote the recurring deposits scheme. It takes various measures on continuous basis to promote and popularize all small savings scheme including Post Office Recurring Deposit Scheme through electronic and print media as well as h...
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TDS |
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Section 80DD of the Income Tax Act - Tax Relief To Family Members of Differently Abled
Posted Date : 24-Apr-2015 , 10:06:15 pm | Posted By CASANSAAR
Section 80DD of the Income Tax Act, 1961, inter alia, provides for a deduction to an individual or HUF, who is a resident in India, and
• Incurs expenditure for the medical treatment (including nursing), training and rehabilitation of a dependant, being a person with disability; or
•...
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Income Tax |
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0 | Hits : 1255
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Implementation of section 125 and section 132 of the Companies Act, 2013
Posted Date : 24-Apr-2015 , 10:01:59 pm | Posted By CASANSAAR
Implementation of New Companies Act
The provisions of section 125 and section 132 of the Companies Act, 2013 respectively provide details about the constitution, powers and responsibility of the Investor Education and Protection Fund Authority (IEPFA) and National Financial Reportin...
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Companies Act |
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Secretarial Standards notified by ICSI, effective wef 1st July 2015
Posted Date : 24-Apr-2015 , 09:05:48 am | Posted By CASANSAAR
Companies will soon have to follow stringent norms such as providing detailed explanation on implications of particular resolutions while conducting board and shareholders' meetings.
These provisions are part of new Secretarial Standards, which will have to be mandatorily followed by co...
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Secretarial Standards |
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0 | Hits : 3419
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GST Bill likely to be tabled in Lok Sabha today
Posted Date : 24-Apr-2015 , 08:14:53 am | Posted By CASANSAAR
With most states on board, the government proposes to take up for consideration and passage a Constitution Amendment bill in the Lok Sabha Friday to roll out the Goods and Services Tax (GST).
"The government will move the bill today and try to get it passed by Monday," a highly-placed s...
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GST |
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0 | Hits : 1087
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RBI revises priority sector norms, includes more categories
Posted Date : 24-Apr-2015 , 08:06:05 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has revamped priority sector lending (PSL) norms. Now, loans to sectors such as social infrastructure, renewable energy and medium enterprises will also be treated as PSL.
While retaining the 40 per cent PSL target for domestic banks, the distinction between direct...
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RBI |
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0 | Hits : 1337
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ITR - Check your new Income Tax assessment range before filing returns
Posted Date : 23-Apr-2015 , 08:46:37 am | Posted By CASANSAAR
With income tax returns (ITR) filing season commencing soon, taxpayers have been advised to re-check their newassessment ranges as the Income Tax department has carried out a large-scale restructuring and jurisdictional change of its offices country-wide.
“Taxpayers ar...
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ITR |
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0 | Hits : 2111
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RBI introduces early warning system to detect frauds
Posted Date : 23-Apr-2015 , 08:42:14 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has put in place an early warning system to prevent financial frauds.
The market intelligence units in its regional offices have been asked to pick-up early warnings on unscrupulous practices followed by financial institutions. This is part of the restructuring o...
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RBI |
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FM expresses confidence about implementation of GST from next fiscal
Posted Date : 22-Apr-2015 , 09:38:10 pm | Posted By CASANSAAR
Finance Minister Arun Jaitley today said that the government will go ahead with constitutional amendment for Goods and services tax, GST in the current session of Parliament as there is a broad consensus among states on the issue. Mr Jaitley was speaking to reporters after meeting Finance Ministers ...
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GST |
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0 | Hits : 819
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Govt meets FIIs on tax issues, refuses relaxation on MAT
Posted Date : 22-Apr-2015 , 09:35:22 pm | Posted By CASANSAAR
The government has refused to give any relaxation to the Foreign Institutional Investors,FIIs on the 40,000 crore rupees past tax demand and said remedy lies in judicial appeal. Talking to reporters after meeting with FIIs Minister of Finance Jayant Sinha said, NDA government is a responsive governm...
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Income Tax |
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0 | Hits : 825
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PAN card to be issued within 48 hours of applying
Posted Date : 22-Apr-2015 , 09:01:08 pm | Posted By CASANSAAR
The government will soon launch an online facility under which a PAN card will be issued within 48 hours of applying. Besides, special camps will be organised throughout the country, including rural areas, to help people get PAN cards. Permanent Account Number (PAN) is a 10-digit alpha numeric numbe...
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PAN |
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FM to meet tax officials to keep ITR forms simple
Posted Date : 22-Apr-2015 , 08:56:59 am | Posted By CASANSAAR
Facing criticism over the new ITR forms that seek details on bank accounts and foreign travel, Finance Minister Arun Jaitley will hold another round of meeting with officials to simplify the procedure.
Soon after his trip from Washington yesterday, Jaitley had held a meeting with tax officials on...
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ITR |
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0 | Hits : 1041
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e-TDS/TCS File Validation Utility (FVU) version 2.142 released
Posted Date : 22-Apr-2015 , 08:50:03 am | Posted By CASANSAAR
File validation utility (FVU) version 2.142 from FY 2007-08 to FY 2009-10 and 4.6 from FY 2010-11 and onwards released.
Download e-TDS/TCS FVU.exe (Version 2.142)
Key Features –File Validation Utility (FVU) version 2.142
Quoting of PAN of responsible pers...
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Category :
Income Tax Software |
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0 | Hits : 1593
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NSDL releases e-TDS/TCS Utility (RPU) version 4.3
Posted Date : 22-Apr-2015 , 08:41:03 am | Posted By CASANSAAR
e-TDS/TCS RPU (Version 4.3) for Statements from FY 2007-08 onwards released.
Download e-TDS/TCS RPU (Version 4.3) for Statements from FY 2007-08 onwards.
Key Features – Return Preparation Utility (RPU) version 4.3
Quoting of PAN of responsible person...
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Income Tax Software |
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0 | Hits : 1900
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RBI planning to implement interoperable cash transfer
Posted Date : 22-Apr-2015 , 08:27:36 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) is working on a proposal submitted by the National Payment Corporation (NPCI) to connect all cash deposit machines through the National Financial Switch (NFS).
This will make these machines interoperable and allow a customer of a particular ba...
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RBI |
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0 | Hits : 857
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Government Decides to Fix Interest Rates at 8.7% for General Provident Fund(GPF) and other Similar Funds
Posted Date : 22-Apr-2015 , 08:18:01 am | Posted By CASANSAAR
Government Decides to Fix Interest Rates at 8.7% for General Provident Fund(GPF) and other Similar Funds Including Special Deposit Scheme, 1975(SDS,1975) for Non-Government Provident, Superannuation and Gratuity Funds for the Financial Year 2015-16
...
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General |
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Income Tax Dept. awarded PMs award for excellence in public administration
Posted Date : 22-Apr-2015 , 07:51:40 am | Posted By CASANSAAR
The Income Tax Department has been awarded the 'Prime Minister's Award for Excellence in Public Administration' for 'Easy Tax Compliance through Quality Service'.
The award was presented at a function at the Vigyan Bhawan here today by Prime Minister Narendra Modi on the occ...
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Category :
Income Tax |
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0 | Hits : 645
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RBI allows banks to tie up with e-commerce companies
Posted Date : 21-Apr-2015 , 07:50:24 am | Posted By CASANSAAR
The Reserve Bank of India has said that it is not averse to banks entering into joint ventures with e-commerce firms to smoothen payments or appointing them as business correspondents for acquiring new customers. Integrating e-commerce with their own platforms will allow banks to work around the two...
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RBI |
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0 | Hits : 1058
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ICAI Guidance on Reporting Under CARO, 2015
Posted Date : 20-Apr-2015 , 09:42:14 pm | Posted By CASANSAAR
ICAI ANNOUNCEMENT GUIDANCE ON REPORTING UNDER THE COMPANIES (AUDITOR’S REPORT) ORDER, 2015 (CARO, 2015) AND CONSEQUENTIAL AMENDMENT TO THE FORMAT OF THE AUDITOR’S REPORT OF A COMPANY.
1. As the members are aware, the Ministry of Corporate Affairs, on 10th April, 2015, notified the Com...
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ICAI |
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ICAI Clarification on Auditors Report
Posted Date : 20-Apr-2015 , 09:37:12 pm | Posted By CASANSAAR
ICAI CLARIIFICATION ON AUDITOR’S REPORT IN RESPECT OF FINANCIAL STATEMENTS OF A COMPANY FOR ACCOUNTING YEARS BEGINNING BEFORE 1ST APRIL, 2014.
The Ministry of Corporate Affairs vide its General Circular No 07/2014, Dissemination of Information With Regards to the Provisions of the Companies...
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ICAI |
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Guidance Note on Reporting under Section 143 (3)(f) and (h) of the Companies Act, 2013 - ICAI
Posted Date : 20-Apr-2015 , 09:30:58 pm | Posted By CASANSAAR
Guidance Note on Reporting under Section 143 (3)(f) and (h) of the Companies Act, 2013
The Council of the Institute of Chartered Accountants of India (ICAI), at its 342nd meeting considered and approved the Guidance Note on Reporting Under Section 143(3)(f) and (h) of the Companies Act, 2013...
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Companies Act |
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0 | Hits : 1435
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New ITR forms for AY 2015-16 are on hold for now
Posted Date : 20-Apr-2015 , 08:21:33 am | Posted By CASANSAAR
The new ITR forms for AY 2015-16, requiring stringent disclosures, are on the hold for now.
But as the government intensifies fight against black money and adopts global standards, taxpayers will have to begin spring cleaning of their finances and financial records to avoid being on the wron...
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ITR |
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1 | Hits : 2173
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SEBI mulls bright line rules to define control in merger and acquisitions
Posted Date : 20-Apr-2015 , 08:17:26 am | Posted By CASANSAAR
In a major step towards bringing greater regulatory clarity for M&A deals, Sebi plans to put in place new guidelines to define 'bright lines' identifying the change of control in such transactions.
Under Sebi's Takeover Regulations, the definition of 'control' is based on ...
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SEBI |
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0 | Hits : 852
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Dont pay higher Service Tax of 14% as Finance Bill not yet passed - FinMin
Posted Date : 20-Apr-2015 , 07:57:22 am | Posted By CASANSAAR
The Finance Ministry on Saturday asked people not to pay higher service tax of 14 per cent, proposed in the budget, as the Finance Bill has not yet been passed by Parliament.
Revenue Secretary Shaktikanta Das said customers should lodge a complaint with the local Chief Commissioner if a...
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Service Tax |
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0 | Hits : 1340
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New ITR forms to be reconsidered and simplified - FM
Posted Date : 18-Apr-2015 , 06:43:30 pm | Posted By CASANSAAR
The Finance Ministry on Saturday said the new income tax return (ITR) form will be reconsidered and simplified.
Meanwhile, the Central Board of Direct Taxes, the apex policy making body of the Income Tax department, has notified new Income Tax Return (ITR) forms for the current assessment year, m...
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ITR |
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0 | Hits : 1117
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ITR filing now is a cakewalk for Aadhar card holders
Posted Date : 18-Apr-2015 , 08:50:16 am | Posted By CASANSAAR
Now, the Aadhar Card holders need not to file income-tax returns physically. New ITR forms will link to Aadhar card and do away with the physical ITR-5 for those who are Aadhar-verified by the Electronic Verification Certification (EVC) system.
The Central Board of Direct Taxes (CBDT)...
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ITR |
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1 | Hits : 3011
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Need to give Foreign visit details in tax returns
Posted Date : 18-Apr-2015 , 08:43:29 am | Posted By CASANSAAR
Widening its net to check generation of black money, the Income Tax department has introduced significant changes in the income tax return form for AY assessment year 2015-16. Taxpayers will now have to disclose instances of foreign travel, details of theirbank&nb...
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Income Tax |
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1 | Hits : 1418
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Taxpayers will need to disclose all their bank accounts
Posted Date : 18-Apr-2015 , 08:39:37 am | Posted By CASANSAAR
Taxpayers will now have to disclose all bank accounts held by them in India and details of their foreign travel in their income-tax returns (ITR) as the tax department moves to check black money both domestically and abroad.
Taxpayers will have to declare income accruing from foreign assets ...
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ITR |
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0 | Hits : 1405
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New ITR Forms and e-Filing requirements for A.Y. 2015-16
Posted Date : 18-Apr-2015 , 08:33:49 am | Posted By CASANSAAR
New ITR Forms and e-Filing requirements for A.Y. 2015-16.
I. Introduction to New Rule 12
The CBDT has notified amendment to Rule 12 of the Income-tax Rules which shall be applicable for the assessment year 2015-16.
Till assessment year 2014-15, individuals or HUFs, who were otherwise no...
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ITR |
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0 | Hits : 2726
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ITR 1, ITR 2 & ITR 4S for A.Y.2015-16 released by CBDT
Posted Date : 16-Apr-2015 , 07:08:39 pm | Posted By CASANSAAR
S.O. 1014 (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 rules further to amend the Income-tax Rules, 1962, namely:-
1. (1) These rules may be called the Income-tax (Seventh Amen...
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ITR |
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