RBI reduces repatriation time of export proceeds to 9 months
Posted Date : 21-Nov-2014 , 07:41:08 am | Posted By CASANSAAR
The Reserve Bank of India said on Thursday the time by which exporters can repatriate the full value of goods and services has been reduced to nine months from 12 from the date of export.
The rule will be applicable to all exporters, including units in special economic zones, export-oriente...
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RBI |
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FM Directs Bankers to Increase flow of Credit to Various Sectors and take Steps to Reduce their NPA
Posted Date : 20-Nov-2014 , 08:07:13 pm | Posted By CASANSAAR
The Union Finance Minister Shri Arun Jaitley said that the Government has taken steps to streamline the process of appointment of Chief Executive Officers (CEOs) and Executive Directors (EDs) of the Public Sector Banks(PSBs) to introduce objectivity in the process. This will play a major role ...
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Banking |
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Kotak Mahindra Bank to Acquire ING Vysya Bank
Posted Date : 20-Nov-2014 , 07:57:27 pm | Posted By CASANSAAR
The board of Kotak Mahindra Bank has approved a merger with ING Vysya Bank. Kotak Mahindra Bank and ING Vysya Bank are private sector banks, offering a wide range of financial services.
The combined entity will have over 1,200 branches across the country and a market value of nearly Rs 1 la...
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Banking |
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Sebi withdraws recognition granted to Delhi Stock Exchange
Posted Date : 19-Nov-2014 , 10:36:15 pm | Posted By CASANSAAR
Finding "serious irregularities" in the functioning of Delhi Stock Exchange, Sebi today withdrew the recognition granted to the bourse. The capital market watchdog has also observed that activities of DSE were "carried out in a manner contrary to the interest of the investors." "...hereby ...
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SEBI |
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SEBI approves new insider trading rules
Posted Date : 19-Nov-2014 , 10:24:01 pm | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) on Wednesday approved new insider trading rules that will replace a two-decade old law seen as inadequate to curb trading violations.
The new rules, which are based on recommendations that were first revealed late last year, broade...
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SEBI |
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RBI Asks Taxpayers to Pay Income Tax Dues in Advance
Posted Date : 19-Nov-2014 , 10:22:31 pm | Posted By CASANSAAR
The Reserve Bank on Wednesday asked taxpayers to deposit income tax dues in advance at RBI or authorised bank branches to avoid last minute rush at December end.
"Pay IT dues in advance at RBI or at authorised bank branches. The RBI appeals to income tax assessees to remit their income tax ...
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Income Tax |
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Shifting of Exam Centre at Ajmer, Chandigarh, Chennai, Ernakulam, Hyderabad, Indore, Jaipur, Jodhpur, Kolkata/Howrah, New Delhi, Patna - For Intermediate Paper-4 on 23rd November, 2014.
Posted Date : 19-Nov-2014 , 06:00:17 pm | Posted By CASANSAAR
Shifting of Exam Centre at Ajmer, Chandigarh, Chennai, Ernakulam, Hyderabad, Indore, Jaipur, Jodhpur, Kolkata/Howrah, New Delhi, Patna - For Intermediate Paper-4 on 23rd November, 2014. - ICAI
Change of Venue in Ajmer, Chandigarh, Chennai, Ernakulam, Hyderabad, Indore, Jodhpur, Kolkata/Howrah , N...
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Students Zone |
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Draft amendments in the Chartered Accountants Regulations, 1988 notified in the Gazette of India vide Notification No. 1-CA(7)/167/2014 dated 10th September, 2014 - ICAI
Posted Date : 19-Nov-2014 , 05:56:51 pm | Posted By CASANSAAR
ANNOUNCEMENT
Draft amendments in the Chartered Accountants Regulations, 1988 notified in the Gazette of India vide Notification No. 1-CA(7)/167/2014 dated 10th September, 2014
The Council at its 337th meeting held on 29th, 30th and 31st October, 2014 in the office of the Instit...
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ICAI |
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Madras High Court notice to RBI, IBA on PIL challenging ATM usage regulation
Posted Date : 19-Nov-2014 , 08:42:31 am | Posted By CASANSAAR
Madras High Court bench here today ordered notice to Reserve Bank of India and the Indian Banks Association on a PIL seeking to quash the recent circulars by the apex bank regulating the number of free ATM transactions in six metros from November 1. A division bench comprising Justice V Dhanapa...
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Banking |
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Transfer pricing case: Shell not liable to pay tax, says HC
Posted Date : 19-Nov-2014 , 08:31:06 am | Posted By CASANSAAR
The Bombay High Court on Tuesday ruled in favour of Shell in a transfer-pricing order that sought to tax the energy giant’s 2009 investment in its Indian subsidiary. The order will have an impact on other multinationals fighting the tax department on similar grounds.
The income-tax ...
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Income Tax |
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Banks turn to Facebook and Twitter to keep track of education loan takers
Posted Date : 19-Nov-2014 , 08:26:22 am | Posted By CASANSAAR
Be careful of friends and followers. Some banks have started using Facebook and Twitter to try and keep track of students who have taken education loans from them, casting a wider net to keep defaults in check. When payments are delayed, these banks use information available on social networkin...
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Income Tax |
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Important Announcement - Shifting of CA Examination Centre at Jaipur & Patna on 23.11.2014
Posted Date : 18-Nov-2014 , 05:48:23 pm | Posted By CASANSAAR
In continuation of the Important Announcement dated 16th November, 2014, the venue for Group – I, Paper -4 – Taxation of Intermediate (IPC) Examination to be held on 23rd November 2014 (Sunday) has been changed, as given below, for some of the candidates in Jaipur and Patna:...
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Students Zone |
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Memorandum to ICAI regarding Concern & Suggestion of Members on Statutory Bank Audits by SAVE CERTIFICATION RIGHT / TAR GROUP
Posted Date : 18-Nov-2014 , 08:29:27 am | Posted By CASANSAAR
A delegation representing TAR/Save Certification rights group, comprising CA. Amresh Vashist (Meerut), CA. Deep Jain(Faridabad), CA. Vivek Khurana Founder - CASANSAAR (New Delhi) and CA. M.K.Arora(Noida), met with the worthy President of ICAI, at New Delhi.
This delegation handed over to th...
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Auditing |
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Gujarat IAS Hasmukh Adhia nominated RBI director
Posted Date : 18-Nov-2014 , 08:19:28 am | Posted By CASANSAAR
Gujarat bureaucrat Hasmukh Adhia has been nominated as a director on the Central Board of Directors of the Reserve Bank of India.
The 1981-batch IAS officer, who hails from Rajkot, was nominated by the Central government to replace Gurdial Singh Sandhu.
"The Central Gover...
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Banking |
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Income Tax department issues mass transfer & promotion orders to 500 officials
Posted Date : 18-Nov-2014 , 08:14:54 am | Posted By CASANSAAR
In a major reshuffle, the Income Tax department has issued mass transfer and promotion orders to about 500 tax officials across the country. The transfers on Saturday, included officials of the rank of Commissioner of Income Tax, Director of Income Tax, Chief Commissioner, Director General, Pri...
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Income Tax |
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Kisan Vikas Patra to be relaunched today; money to Double in 100 months
Posted Date : 18-Nov-2014 , 08:12:55 am | Posted By CASANSAAR
In view of popular demand, the government will on Tuesday relaunch saving instrument Kisan Vikas Patra (KVP), wherein the invested money will get doubled in 8 years and 4 months.
The KVP, which will be relaunched by Finance Minister Arun Jaitley, will be available in the denomination of Rs 1,000; 5...
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Income Tax |
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0 | Hits : 1381
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FinMin review meeting with chiefs of PSU banks, FIs on Nov 20
Posted Date : 17-Nov-2014 , 07:52:08 am | Posted By CASANSAAR
The Finance Ministry has called a meeting of chiefs of public sector banks on November 20 to review their financial performance and Jan Dhan Yojana, among other things.
Chief executives of financial institutions like Nabard and NHB are also attending the meeting.
"Finance Minister Ar...
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Banking |
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HC quashes RBI communication on NBFC interest rate
Posted Date : 15-Nov-2014 , 07:57:49 am | Posted By CASANSAAR
Quashing a RBI communication, Madras High Court bench here said the apex bank cannot wash off its hand of the responsibility of regulating interest rates charged by non-banking financial companies (NBFCs) and asked it to look into the matter in terms of Fair practice Code as well as c...
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Banking |
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Postponement of Group-I, Paper-4, of Intermediate (IPC) examination scheduled for 14th November 2014 to 23rd November 2014
Posted Date : 14-Nov-2014 , 10:46:34 pm | Posted By CASANSAAR
14th November, 2014
IMPORTANT ANNOUNCEMENT
Postponement of Group-I, Paper-4, of Intermediate (IPC) examination scheduled for 14th November 2014 to 23rd November 2014It is hereby informed that due to unavoidable circumstances the examination of Group - I, Paper - 4 - Taxation of Intermediate (IPC) ...
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Students Zone |
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Join Us for transparency in Allotment of Bank Audit & Other Reforms...
Posted Date : 14-Nov-2014 , 09:07:12 pm | Posted By CASANSAAR
For improvement in "Bank Audit allotment system, We a group of CAs called " SAVE CERTIFICATION RIGHT" has prepared a memorandum & file a petition at www.change.org. We appeal all CAs to sign it.
CA Vivek Khurana,
http://www.casansaar.com
https://www.change.org/p/rajan-kumar-nic...
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Auditing |
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2 | Hits : 1935
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Memorandum for Suggesting Changes in the Process of Allotment Of Statutory Bank Branch Audits to Chartered Accountants
Posted Date : 14-Nov-2014 , 08:48:00 pm | Posted By CASANSAAR
We are Chartered Accountants located in different parts of India. We have noted with concern the various issues that have arisen over the past few years in the matter of appointment of auditors of Bank Branches. This has not only adversely affected the NPAs of various bank branches (which in turn af...
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Auditing |
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6 | Hits : 2437
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RBI to invite applications for setting up of small, payment banks
Posted Date : 14-Nov-2014 , 09:26:05 am | Posted By CASANSAAR
The Reserve Bank of India will invite applications for setting up of small and payment banks -- aimed to cater to small businesses and low income households -- by the end of this month after putting in place final norms in this regard. Governor Raghuram Rajan said this while addressing micro-financi...
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RBI |
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Govt to scan advance tax for black money
Posted Date : 13-Nov-2014 , 08:13:48 am | Posted By CASANSAAR
The government is exploring options to set up a facility to monitor advance income tax filings by companies and high networth individuals, on the lines of dedicated monitoring of returns and tax deducted at source (TDS) categories.
The move is in line with the government’s plan ...
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Income Tax |
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0 | Hits : 1082
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SEBI to implement CAS from March 2015
Posted Date : 13-Nov-2014 , 07:55:38 am | Posted By CASANSAAR
The Securities and Exchange Board of India (SEBI), on Wednesday said that it would enable a single consolidated view of all investments of every investor in mutual funds and securities held in demat form with depositories from March 2015.
Consolidation of account statement would b...
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SEBI |
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Jan Dhan accounts close to target, but over 75% have no balance
Posted Date : 13-Nov-2014 , 07:52:44 am | Posted By CASANSAAR
Two-and-a-half months before the deadline, banks, led by the government-owned ones, are within a striking distance of reaching the target of opening 75 million accounts under the Pradhan Mantri Jan Dhan Yojana of the Narendra Modigovernment.
The data show close to 72.5 million accoun...
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Banking |
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PSU Banks on nation wide strike today
Posted Date : 12-Nov-2014 , 08:40:54 am | Posted By CASANSAAR
The employees of Public sector banks will be on a nation wide strike today to press for their demand of wage revision. Nine banking unions have decided to join it.Normal banking operations like cheque clearance and withdrawal in public sector banks are likely to be affected due to the strike. B...
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Banking |
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Money paid under consent settlement can be treated as business expense - ITAT
Posted Date : 12-Nov-2014 , 07:55:33 am | Posted By CASANSAAR
The Income Tax Appellate Tribunal (ITAT) has clarified that money paid under the consent decree mechanism to settle disputes is permissible as business expenditure and cannot be equated to penalty levied for breaching law. The clarification will set precedence as many companies are currently negotia...
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Income Tax |
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0 | Hits : 1045
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New insider trading norms to target honchos, auditors; bar likely on derivatives trade
Posted Date : 12-Nov-2014 , 07:53:01 am | Posted By CASANSAAR
Directors and senior managers of a listed company may not be allowed to trade in derivatives of their company's stock while law firms and auditors, often privy to unpublished price-sensitive information, are likely to have a new code of conduct. These proposals, aimed at curbing insider trading...
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SEBI |
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0 | Hits : 994
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State governments reject Centre governments proposal to hike GST limit
Posted Date : 12-Nov-2014 , 07:43:15 am | Posted By CASANSAAR
The central government will have to iron out several issues with the state governments on Goods and Services Taxbefore it tables the GST Bill in the upcoming winter session of the parliament.
Differences between the state and the Centre continue on the threshold turnover...
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GST |
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Packwell
Posted Date : 11-Nov-2014 , 07:24:28 am | Posted By CASANSAAR
The apex body of Chartered Accountants, ICAI said it is making efforts to expedite the next course of action with respect to a complaint filed against one of its Member by Packwell Manufacturers.
An official of Packwell Manufacturers (Delhi) Pvt Ltd had filed a complaint against a Chartered...
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Income Tax |
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0 | Hits : 1359
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