Public sector banks to remain closed on 2nd, 4th Saturdays
Posted Date : 24-Feb-2015 , 08:06:28 am | Posted By CASANSAAR
Second and fourth Saturdays will henceforth be holidays for banks. The remaining Saturdays in a month will be full working days.
This was one of the agreements arrived at the meeting of the Indian Banks' Association with associations of bank employees and staff in Mumbai on Monday.
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Banking |
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Guidance Note on Audit of Banks 2015 released by ICAI
Posted Date : 23-Feb-2015 , 12:22:56 pm | Posted By CASANSAAR
The Auditing and Assurance Standards Board of the Institute of Chartered Accountants of India has today issued the Guidance Note on Audit of Banks 2015 edition. For the benefit of members, complete text of the Guidance Note and the contents of accompanying CD can be downloaded at:
Guidance Note o...
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Auditing |
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Budget session of Parliament begins today
Posted Date : 23-Feb-2015 , 08:06:40 am | Posted By CASANSAAR
The budget session of Parliament is beginning today. The session will begin with President Pranab Mukherjee's address to members of both houses of Parliament. Meanwhile, the Government has sought cooperation from party leaders in both the Houses for smooth functioning of the session. Prime Mini...
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Budget |
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WhatsApp Voice Calling Feature Available on Android, Need a Invite to Get It
Posted Date : 21-Feb-2015 , 10:23:58 pm | Posted By CASANSAAR
A cross platform messaging app, Whatsapp messenger, which allows user to send messages, now added the latest feature of voice calling. To get this feature, Android users need to update to the latest version and then find out a friend who already has the feature. After this, your friend, who has who ...
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Income Tax |
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PSU bank unions threaten 4-day nation-wide strike from Feb 25
Posted Date : 21-Feb-2015 , 01:23:14 pm | Posted By CASANSAAR
The nation-wide strike is to press for the wage-related demands of bankers.
"Banks have been providing for a 15 per cent wage hike since November 2012. Thus, banks already have incorporated wage increase of 15 per cent into their accounting but their offering is 13 per cent only.
"This is not acce...
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Banking |
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CA Deepak Garg may be the next Chariman of NIRC
Posted Date : 21-Feb-2015 , 09:17:31 am | Posted By CASANSAAR
CA Deepak Garg may be the next chairman of NIRC for the FY 2015-16. He has the support of more then seven Regional Council Members out of thirteen & Few CC Members are also in the support of CA Deepak Garg as per reliable sources. Next Week RC Members will elect new NIRC Chairman....
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ICAI |
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ICAI signs MoU with Global Accounting Body
Posted Date : 21-Feb-2015 , 09:01:04 am | Posted By CASANSAAR
The Institute of Cost Accountants of India (ICAI) and UK-based The Association of Chartered Certified Accountants (ACCA) today inked a pact to work towards co-operation in respect of professional training, education and examinations. The Memorandum of Understanding (MoU) will open new avenues f...
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ICAI |
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Indian Insurance Companies (Foreign Investment) Rules, 2015 Notified
Posted Date : 21-Feb-2015 , 08:55:52 am | Posted By CASANSAAR
Indian Insurance Companies (Foreign Investment) Rules, 2015 Notified; Foreign Equity Investment Cap of 49 Per Cent Applicable to All Indian Insurance Companies; Foreign Direct Investment (FDI) Proposals up to 26 Per Cent of the Total Paid-Up Equity of the Indian Insurance Company All...
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Finance |
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Govt launches single window e-biz portal to foster business environment
Posted Date : 20-Feb-2015 , 08:44:32 am | Posted By CASANSAAR
The government has launched a single window e-Biz portal for 11 Central government services to bring transparency and ease of doing business in the country. Launching the portal in New Delhi yesterday, Finance Minister Arun Jaitley said, the project will help in fostering the business environment in...
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Corporate Law |
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Govt Constitutes Panel to advise MCA on 'progressive use' of Hindi
Posted Date : 20-Feb-2015 , 08:22:37 am | Posted By CASANSAAR
A panel, that includes Parliamentarians, will render advise to the Ministry of Corporate Affairs on "progressive use" of Hindi language.
The 'Hindi Salahkar Samiti' would have members from the Lok Sabha, the Rajya Sabha as well as representatives from the voluntary organisatio...
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Corporate Law |
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Government Approves Eleven (11) Proposals of Foreign Direct Investment (FDI) Amounting to About Rs. 1075.91 Crore
Posted Date : 20-Feb-2015 , 07:41:45 am | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on 4th February 2015, Government has approved Eleven (11) proposals of Foreign Direct Investment amounting to Rs. 1075.91 croreapproximately.
&nbs...
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Finance |
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Printing of Budget 2015 document begins with 'Halwa' ceremony
Posted Date : 19-Feb-2015 , 05:34:02 pm | Posted By CASANSAAR
The process of printing documents for the Budget 2015-16 began today with the ritual 'halwa ceremony', which was attended by Finance Minister Arun Jaitley in the North Block office. It has been a tradition which has continued for long. As part of the ritual, 'halwa' is prepared in a big 'kadhai...
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Budget |
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Members are not permitted to use any other designation alongwith the designation Chartered Accountant - ICAI
Posted Date : 19-Feb-2015 , 08:19:53 am | Posted By CASANSAAR
ANNOUNCEMENTFOR ATTENTION OF THE MEMBERS
Re: Use of Designation(s) other than the designation of “Chartered Accountant”
It has been brought to the notice of the Institute that some members are using the certain designation (s) other than Chartered Accountant in addition...
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ICAI |
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SC pulls up Govt for not appointing members in Tribunals
Posted Date : 19-Feb-2015 , 08:16:08 am | Posted By CASANSAAR
The Supreme Court today pulled up the Centre for "sitting over" for months on the recommendation of the Chief Justice of India for appointments in various tribunals including CAT, ITAT and NGT saying that litigants should not suffer due to vacancies in quasi judicial bodies.
A bench of Justic...
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General |
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English, Soft Skills, Economic Law Proposed in new CA syllabus
Posted Date : 18-Feb-2015 , 08:36:04 am | Posted By CASANSAAR
Aspiring CAs will have to brush up their English and communication skills, prepare to explain themselves in written examinations and take courses in a few new papers as Institute of Chartered Accountants of India plans to revamp the syllabus of the course many already consider tough.
The dr...
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Students Zone |
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Railways, 18 companies face probe for Service tax evasion of Rs.1000 Cr
Posted Date : 18-Feb-2015 , 08:20:06 am | Posted By CASANSAAR
The Indian Railways, Container Corporation of India (Concor), a navratna PSU, and 17 private companies, including the Adani group, are facing investigations for evasion of service tax to the tune of Rs 1,000 crore.
Indian Railways and Concor along with a private company have even been slapped with ...
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Service Tax |
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CAT allows visually impaired to participate in Auditor's exam
Posted Date : 18-Feb-2015 , 08:16:19 am | Posted By CASANSAAR
The Central Administrative Tribunal (CAT) has asked the government to allow a visually- impaired staffer to appear in an examination for promotion to the post of auditor, which was denied on the ground that the post was not suitable for the blind. A bench of CAT's judicial officer V Ajay Kumar ...
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Auditing |
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Fin Min detects Rs 250 cr tax evasion through entry operators
Posted Date : 17-Feb-2015 , 10:01:04 pm | Posted By CASANSAAR
Tightening noose around the illegal entry operators, the Finance Ministry has detected routing of about Rs 250 croreblack money through fake entries via non-existent business entities.
The modus operandi of providing 'accommodation entries by entry operators' was found by Central Eco...
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Income Tax |
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New Upgraded and Secure Portal for E-Filing of Applications for Foreign Direct Investment Launched
Posted Date : 17-Feb-2015 , 09:53:22 pm | Posted By CASANSAAR
Department of Economic Affairs, Ministry of Finance launched here today a new upgraded and secure user friendly web site for filing and processing of applications for Foreign Direct Investment (FD) requiring Government approval. Presently the applications are filed online at www.fipbindia.com&n...
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Finance |
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Deloitte appoints India-born Punit Renjen as Global CEO
Posted Date : 17-Feb-2015 , 08:25:18 am | Posted By CASANSAAR
India-born Punit Renjen, chairman of the board of the Deloitte US member firm, has been named Deloitte Global’s new chief executive officer (CEO). He will assume the new role on June 1.
Renjen succeeds Barry Salzberg, who will retire fromDeloitte Global and become a professor of pro...
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International Business |
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Income Tax department to file case against HSBC bank
Posted Date : 17-Feb-2015 , 08:16:43 am | Posted By CASANSAAR
Income Tax department is likely to file a case against HSBC bank, Geneva, for allegedly “abetting” tax evasion in India by way of unauthorisedly operating accounts of its citizens in its overseas branch.
The department has come under fire after International Consortium of Invest...
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Income Tax |
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Bank employees to go on 4-day strike from February 25
Posted Date : 16-Feb-2015 , 08:41:20 am | Posted By CASANSAAR
Bank employees are threatened to go on a strike for four days from February 25-28, followed by an indefinite strike from March 16th.
The announcement comes after wage negotiations talks, between the United Forum of Bank Unions (UFBU) and the Indian Banks Association (IBA), wa...
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Banking |
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RBI allows flexibility in raising foreign currency funds
Posted Date : 14-Feb-2015 , 09:01:45 am | Posted By CASANSAAR
Eliminating currency risk for borrowers planning to raise foreign currency funds has turned a tad easier.The Reserve Bank of India has allowed greater flexibility for them in hedging offshore exposure by way of permitting residents to re-book any swap or derivative contract."It has been decided that...
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RBI |
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NRI payments: CBDT clarifies on scope of Disallowance
Posted Date : 14-Feb-2015 , 08:56:10 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has clarified on the scope of disallowance on payments made to non-residents on which tax ought to have been withheld.
It has now issued a clarificatory circular, which will help bring certainty in the law so as to avoid potential litigation, say tax...
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Income Tax |
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President of India appoints Arvind Kejriwal as Chief Minister of Delhi
Posted Date : 14-Feb-2015 , 08:50:08 am | Posted By CASANSAAR
The President of India, Shri Pranab Mukherjee has revoked the Order issued on February 16, 2014 under article 239AB of the Constitution in relation to the National Capital Territory of Delhi, with effect from February 14, 2015. The President has appointed Shri Arvind Kejriwal as the Chief Minis...
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General |
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CBDT sets up committee to simplify tax procedures
Posted Date : 13-Feb-2015 , 08:16:08 am | Posted By CASANSAAR
In yet another step to simplify tax procedures, CBDT has constituted a committee to redraft existing guidelines for undertaking write-off procedures in irrecoverable tax demand cases. The five-member committee will be headed by a Chief Commissioner of Income Taxand has been asked...
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Income Tax |
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Shift in the Focus of the Income Tax Department (ITD) from Civil Consequences to Criminal Consequences in Serious Cases of Tax Evasion
Posted Date : 13-Feb-2015 , 07:52:47 am | Posted By CASANSAAR
Shift in the Focus of the Income Tax Department (ITD) from Civil Consequences to Criminal Consequences in Serious Cases of Tax Evasion; During 2014-15 (upto Dec, 2014) the ITD Has Conducted Searches in 414 Groups, Seized Undisclosed Assets of Rs. 582 Crore; Undisclosed Income of Rs. ...
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Income Tax |
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ICAI elects New Torch Bearers for the year 2015-16
Posted Date : 12-Feb-2015 , 06:56:55 pm | Posted By CASANSAAR
Press ReleaseICAI elects New Torch Bearers for the year 2015-16
The Institute of Chartered Accountants of India (ICAI) is a statutory body established by the Chartered Accountants Act, 1949 for the regulation of the profession of Chartered Accountants in India. The affairs of the ICAI a...
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ICAI |
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CA. M.Devraja Reddy Elected as New Vice-President of ICAI for the year 2015-16
Posted Date : 12-Feb-2015 , 03:18:34 pm | Posted By CASANSAAR
CA. M.Devraja Reddy Elected as New Vice-President of ICAI for the year 2015-16. 15 Council Members contested for the post of Vice President. Out of 15, CA. M.Devraja Reddy gt maximum votes and elected as New VP of ICAI.
Many Many Congrats to CA. M.Devraja Reddy
Good ...
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ICAI |
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First time in the History of ICAI, President of ICAI Elected by Votes
Posted Date : 12-Feb-2015 , 01:51:42 pm | Posted By CASANSAAR
Every Year Vice President of ICAI become President of ICAI but this time in the history of ICAI, council had decided to go for President Elections. History is being written by Current Council Members.
CA.Manoj Fandis Elected as New President of ICAI for the year 2015-16.
Congrats ...
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ICAI |
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