Advisory firms call into question Auditors role in USL fallout
Posted Date : 28-Apr-2015 , 08:30:17 am | Posted By CASANSAAR
After the Satyam Computer Services accounting scandal, the spotlight has been turned on auditors again as at least three investor advisory services have called for an examination of the auditors’ role in the ongoing fight between United Spirits Ltd board and its chairman Vijay Mallya...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 1399
|
 |
New ITR Forms - Special team to re-draft format after criticism
Posted Date : 28-Apr-2015 , 08:15:10 am | Posted By CASANSAAR
The new format of Income Tax Return (ITR) forms that was withdrawn by the government in the wake of complaints over providing details of foreign trips and domestic bank accounts is being revised to make it simpler.
"The new ITR format has been put into revision and it is on the drawing boa...
Continue Reading...
Category :
ITR |
Comments :
0 | Hits : 1517
|
|
Joint I-T commissioner arrested for molesting woman Chartered Accountant
Posted Date : 27-Apr-2015 , 08:56:59 am | Posted By CASANSAAR
A 35-year-old joint commissioner of income-tax from Gujarat was arrested by Borivli-based Kasturba Marg police on Saturday, for allegedly molesting and abusing a woman Chartered Accountant in Borivli East. the Azad Maidan police had booked him in January, for allegedly molesting and sending lewd mes...
Continue Reading...
Category :
Chartered Accountant |
Comments :
0 | Hits : 3470
|
|
Income Tax department publishes list of big tax defaulters in newspapers
Posted Date : 27-Apr-2015 , 08:51:01 am | Posted By CASANSAAR
As part of its strategy of 'naming and shaming' big defaulters, the Income Tax department on Sunday published names of 31 tax evaders who owe over Rs 1,500 crore (Rs 15 billion) tax to the government.
The names, last known addresses and vital financial details of these entities were pub...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1393
|
|
Over 2000 firms yet to appoint women directors - FinMin
Posted Date : 27-Apr-2015 , 08:34:02 am | Posted By CASANSAAR
Minister of State for Finance Jayant Sinha today said as many as 2,015 companies listed on the Bombay Stock Exchange and 263 on the National Stock Exchange are yet to comply with market regulator SEBI's directive to appoint at least one woman director on the board.
Replying to a questio...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 1015
|
|
No TDS certificate unless short payment defaults are paid
Posted Date : 26-Apr-2015 , 08:55:20 am | Posted By CASANSAAR
The Tax Deducted at Source (TDS) reconciliation analysis and correction enabling system (TRACES) portal of the Income Tax (I-T) department is preventing deductors to obtain TDS certificate unless past demands are paid and online correction submitted. This is turning out to be a nightmare for those, ...
Continue Reading...
Category :
TDS |
Comments :
0 | Hits : 1903
|
|
Massive Earthquake in North India, Tremors Felt in Delhi
Posted Date : 25-Apr-2015 , 12:27:54 pm | Posted By CASANSAAR
Massive tremors lasting well over a minute were felt across northern India after a 7.5 magnitude earthquake hit Nepal this morning.
Tremors were felt across eastern and northern parts of India, said JL Gautam, Head Operations Seismology of Indian Meteorological Department (IMD). "Earthquake ...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 1572
|
|
New ITR forms might be split
Posted Date : 25-Apr-2015 , 09:02:56 am | Posted By CASANSAAR
The government has indicated that it might simplify the new ITR forms for filing income tax returns by breaking it up into parts so that not everyone has to grapple with complexity.
Instead of one big form with many columns, the revised version might have annexures that only those who need to dec...
Continue Reading...
Category :
ITR |
Comments :
0 | Hits : 2042
|
|
Companies can now file single compliance return for eight labour laws
Posted Date : 25-Apr-2015 , 08:42:30 am | Posted By CASANSAAR
Industries from now on will file just one labour compliance return for eight key labour laws ranging from the Industrial Disputes Act to Minimum Wages Act, the labour ministry said on Friday after easing the compliance process. The process has been taken online, making it smoother.
Labour ministe...
Continue Reading...
Category :
Companies Act |
Comments :
0 | Hits : 1617
|
|
GST bill tables in Lok Sabha, Opposition demands bill be sent to Standing committee
Posted Date : 24-Apr-2015 , 10:16:03 pm | Posted By CASANSAAR
Finance Minister Arun Jaitley today said the Goods and Services Tax Bill (GST) will simplify the tax regime and contribute significantly for the growth of country's economy. Moving the the Constitution amendment bill for consideration in the Lok Sabha, Mr. Jaitley said it would be a win win...
Continue Reading...
Category :
GST |
Comments :
1 | Hits : 1146
|
|
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...
Continue Reading...
Category :
TDS |
Comments :
0 | Hits : 1900
|
|
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
•...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1267
|
|
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...
Continue Reading...
Category :
Companies Act |
Comments :
0 | Hits : 1260
|
|
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...
Continue Reading...
Category :
Secretarial Standards |
Comments :
0 | Hits : 3476
|
|
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...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1116
|
|
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...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1400
|
|
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...
Continue Reading...
Category :
ITR |
Comments :
0 | Hits : 2122
|
|
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...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1062
|
|
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 ...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 826
|
|
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...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 841
|
|
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...
Continue Reading...
Category :
PAN |
Comments :
0 | Hits : 1702
|
|
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...
Continue Reading...
Category :
ITR |
Comments :
0 | Hits : 1054
|
|
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...
Continue Reading...
Category :
Income Tax Software |
Comments :
0 | Hits : 1661
|
|
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...
Continue Reading...
Category :
Income Tax Software |
Comments :
0 | Hits : 1952
|
|
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...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 866
|
|
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
...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 744
|
|
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...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 657
|
|
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...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1075
|
|
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...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 3095
|
|
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...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 1479
|
|
|
