HAPPY CHARTERED ACCOUNTANT
Posted Date : 01-Jul-2014 , 08:36:16 am | Posted By CASANSAAR
Heartfelt wishes on the occasion of Chartered Accountant’s Day!!!
We hope that both the Profession and the Professionals will touch great heights in the forth coming years being the major contributor to the society’s economic well being.
So let us join hands and celebra...
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General |
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Corporate Affairs Ministry Tweaks Cost Audit Norms
Posted Date : 01-Jul-2014 , 08:20:08 am | Posted By CASANSAAR
The government on Monday said only a certain class of companies, including those producing defence equipment, would be subject to cost audit.
Companies engaged in activities that involve public interest and those into making certain kinds of medical devices would also be covered u...
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Auditing |
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2 | Hits : 1489
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Govt tells PSBs to open 20 cr accounts in next 1 yr
Posted Date : 01-Jul-2014 , 08:17:04 am | Posted By CASANSAAR
The BJP Government wants public sector banks to go flat out on the financial inclusion front, asking them to open 20 crore basic savings bank deposit (BSBD) accounts for those at the bottom of the pyramid in the next one year.
Meeting the above mentioned target could prove an...
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Category :
Banking |
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0 | Hits : 1012
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NSDL releases FUV 4.30, FUV 2.139 & RPU 4.0 for TDS/TCS returns wef 28.06.2014
Posted Date : 01-Jul-2014 , 08:05:33 am | Posted By CASANSAAR
Tin-NSDL has released FUV 4.30, FUV 2.139 and RPU 4.0 which are effective from 28th June 2014
in respect of TDS /TCS statement filed or to be filed on or after 28th June 2014.
The only change in revised RPU and FUV is Addition of New State code for TELANGANA.
...
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Income Tax |
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0 | Hits : 1079
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Petrol Price Hiked by Rs. 1.69 a Litre, Diesel by 50 Paise
Posted Date : 30-Jun-2014 , 08:50:19 pm | Posted By CASANSAAR
Oil marketing companies have hiked petrol prices by Rs. 1.69/litre and diesel by Rs. 0.50/litre, effective from 1st July.
The hikes are excluding state levies. Oil marketing companies cited a rise in global oil prices and the fall in rupee for the hike in fuel prices. India impo...
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General |
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0 | Hits : 785
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Finmin may double tax exemption limit under 80C to Rs 2 lakh
Posted Date : 30-Jun-2014 , 04:02:54 pm | Posted By CASANSAAR
Seeking to boost household savings, the Finance Ministry is considering doubling the exemption limit for investments by individuals in financial instruments to Rs 2 lakh.
Presently the investments and expenditures up to a combined limit of Rs 1 lakh get exemptions under Sections 80C, 80CC and 80 CC...
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Income Tax |
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0 | Hits : 996
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Sebi issues warning against fraudulent regulatory calls
Posted Date : 30-Jun-2014 , 08:32:07 am | Posted By CASANSAAR
Capital market regulator Sebi has cautioned investors and the public against fraudulent calls being made in the name of regulatory officials to sell financial products and make promotional offers. The Sebi caution has come amid several instances of fraudsters posing as the regulator's officials...
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SEBI |
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0 | Hits : 973
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RBI Says India to Implement US Foreign Tax Compliance Act
Posted Date : 30-Jun-2014 , 08:28:41 am | Posted By CASANSAAR
The RBI has said India and the US have agreed to implement a foreign tax compliance law and asked banks and financial institutions to register by this year-end to report accounts and assets held by US citizens.
India and the US have agreed to implement Foreign Accounts Tax Compliance Act (F...
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RBI |
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0 | Hits : 1276
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SEBI provides clarification on employee stock option norms
Posted Date : 29-Jun-2014 , 09:30:19 am | Posted By CASANSAAR
The Securities and Exchange Board of India, on Friday, said companies were barred from acquiring shares from the secondary market under the employee stock option schemes till the new regulations in this regard were notified.
SEBI has also extended the timeline for companies to align their s...
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SEBI |
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0 | Hits : 1005
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Banks should give monthly data about wilful defaulters: RBI
Posted Date : 28-Jun-2014 , 08:04:57 am | Posted By CASANSAAR
The Reserve Bank of India has mandated banks to give data about wilful defaulters each month or more frequently to the credit information companies from the beginning of 2015. According to the new regulations, banks will have to furnish data on wilful defaulters of Rs 25 lakh and above for...
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RBI |
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0 | Hits : 1021
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RBI to remain open on July 1 to facilitate public transactions
Posted Date : 27-Jun-2014 , 06:17:45 pm | Posted By CASANSAAR
This year the Reserve Bank of India (RBI) has made special provision to remain open on July 1, 2014 to facilitate settlement of market transactions as well as to facilitate the transactions of the general public.
Normally, the RBI remains closed for public transactions every July 1 on accou...
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RBI |
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0 | Hits : 1069
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MCX replaces Auditor, two board members quit
Posted Date : 27-Jun-2014 , 10:16:20 am | Posted By CASANSAAR
Multi Commodity Exchange (MCX) is inching towards ensuring its erstwhile promoter and anchor investor, Financial Technologies, divests its 26 per cent stake.
It board of directors ratified on Thursday the postal ballot result giving it power to transfer the stake of FTIL into an escrow account...
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Category :
Auditing |
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0 | Hits : 945
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Important announcement for Tax payers for updating contact details in e-Filing Portal
Posted Date : 27-Jun-2014 , 09:12:41 am | Posted By CASANSAAR
Important announcement for Tax payers for updating contact details in e-Filing Portal – PINs Validation extended up to 24 hours – (Updated on 26.06.2014)
Income-Tax Department uses the registered contact details (Mobile number & E-mail ID) for all c...
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Category :
Income Tax |
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0 | Hits : 2040
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Final norms for private cos by July first week: MCA
Posted Date : 27-Jun-2014 , 08:46:13 am | Posted By CASANSAAR
The government is expected to finalise soon the norms that may relax certain provisions of the new Companies Act for private firms.
"The Ministry has taken out a draft notification on exemptions which can be granted to private companies and has sought feedback from everyone," said a statement by in...
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Corporate Law |
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1 | Hits : 1547
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RBI revises asset classification norms for infrastructure firms
Posted Date : 27-Jun-2014 , 08:43:29 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has provided a breather to infrastructure firms, allowing banks to treat loans to these entities as standard even if the date of commencement of a project is delayed by up to two years.
“It is clarified multiple revisions of the DCCO (date of commencement of co...
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RBI |
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0 | Hits : 1045
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FTIL appoints Sharp and Tannan Associates as Auditors
Posted Date : 27-Jun-2014 , 08:36:26 am | Posted By CASANSAAR
Following the exit of Deloitte as auditors in the aftermath of the National Spot Exchange crisis, Financial Technologies India Ltd (FTIL) on Wednesday said it has appointed Sharp & Tannan Associates as its auditors with immediate effect.
The company's board has also appointed V P Mehta & Co...
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Auditing |
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0 | Hits : 880
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Vodafone Tax Row: PIL Filed in Supreme Court Against Arbitration
Posted Date : 27-Jun-2014 , 08:31:17 am | Posted By CASANSAAR
A public interest litigation (PIL) has been filed in the Supreme Court to restrain the government from going ahead with arbitration proceedings with UK-based mobile major Vodafone.
Vodafone Group has already begun an international arbitration against the Indian government in the more than Rs.&...
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Category :
Income Tax |
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0 | Hits : 957
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Companies with 10 employees to come under EPFO; 50 lakh to gain
Posted Date : 26-Jun-2014 , 09:05:40 am | Posted By CASANSAAR
The government is considering a reduction in the ceiling on the number of employees in an establishment eligible to be covered under the Employees' Provident Fund Organisation (EPFO) from 20 to 10, a move that is expected to bring another 50 lakh employees under the EPF net. In a letter to the ...
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General |
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0 | Hits : 1568
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E-filing of wealth tax returns made must for Cos
Posted Date : 26-Jun-2014 , 08:46:55 am | Posted By CASANSAAR
The I-T department on Tuesday amended wealth tax rules to make it compulsory for companies as well as individuals and Hindu Undivided Families with income above Rs 1 crore a year to file their wealth tax returns in electronic form with digital signature in an attempt to have tax payer information re...
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Income Tax |
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0 | Hits : 1460
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Analysts Will Need Professional Degree, Certification: SEBI
Posted Date : 26-Jun-2014 , 08:39:17 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) new norms for research analysts would require them to have a professional degree as also an NISM or equivalent certification to ensure that investors get the right financial advice.
The National Institute of Securities Markets (NISM) has bee...
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SEBI |
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0 | Hits : 1163
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CBDT asks Income Tax department to redress taxpayers grievances fast
Posted Date : 26-Jun-2014 , 08:32:34 am | Posted By CASANSAAR
Cracking its whip, the Central Board of Direct Taxes (CBDT) has asked the Income Tax Department to ensure prompt action in timely redressal of taxpayers' grievances pending for a long time.
The CBDT, which supervises the functioning of the I-T department, has asked all Chief Commissioners of ...
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Income Tax |
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0 | Hits : 922
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Create Professional Email IDs for your Clients / Staff / Partners @ 79/- only
Posted Date : 25-Jun-2014 , 01:18:14 pm | Posted By CASANSAAR
CASANSAAR is glad to invite its Members to create Professional email IDs @their own Domain on very nominal charges of Rs 79/- per ID per annum. Therefore Professionals can create email IDs of their Clients / Staff / Partners. like client name@yourfirm name.com or staff name @your name.com etc. etc.
...
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General |
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0 | Hits : 1492
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RBI allows NBFCs to work as business correspondents for Banks
Posted Date : 24-Jun-2014 , 08:18:53 pm | Posted By CASANSAAR
Reserve Bank of India has allowed commercial banks to appoint non-banking finance companies (NBFCs) as Business Correspondents (BCs) to accelerate work on financial inclusion program.
Only non-deposit taking NBFCs will be eligible to act as BCs of banks for financial inc...
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RBI |
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Notice inviting comments for the Draft notification under section 462 of the Companies Act, 2013 for Private Companies
Posted Date : 24-Jun-2014 , 07:57:25 pm | Posted By CASANSAAR
Ministry of Corporate Affairs
Dated: 24th June, 2014
Section 462(1) of the Companies Act, 2013 (Act) empowers the Central Government to direct, by notification, in the public interest, that any of the provisions of this Act shall not apply to such class or classes of compan...
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Category :
Corporate Law |
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0 | Hits : 1043
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RBI directs all banks, finance companies to provide data to anti-black money SIT
Posted Date : 24-Jun-2014 , 08:59:47 am | Posted By CASANSAAR
The Reserve Bank of India has directed all banks and finance companies to provide all information or documents requested by the special investigation team (SIT) looking into unearthing black money. RBI's directive pre-empts any bank from using customer confidentiality f...
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RBI |
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0 | Hits : 1032
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Income Tax refunds should be made after assessment: Ombudsman
Posted Date : 24-Jun-2014 , 08:54:37 am | Posted By CASANSAAR
Income Tax (I-T) refunds should be paid immediately after assessment of the taxpayer is over and without delay, I-T Ombudsman for Kolkata K K Mahapatra today said. "Refunds should be given soon once the assessment is over and should happen in normal course," Mahapatra said at an interaction at ...
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Income Tax |
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0 | Hits : 1398
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SEBI steps on MCA turf with employee benefit schemes directives
Posted Date : 24-Jun-2014 , 08:52:57 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) in its last Board meeting held on June 19, 2014, approved framing of regulations for employee benefit schemes involving shares of the company. These regulations would cover employee benefit schemes which deal in shares of the company, in addition to ...
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SEBI |
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0 | Hits : 998
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Govt to present its first Union Budget on July 10, Railway Budget on July 8
Posted Date : 23-Jun-2014 , 03:57:56 pm | Posted By CASANSAAR
The Rail Budget will be presented on July 8, while the Economic Survey will be released on July 9, the Cabinet Committee on Parliamentary Affairs (CCPA) decided on Monday at a meeting held in parliamentary affairs minister M Venkaiah Naidu's chamber in Parliament House.
The CCPA, headed by ...
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Category :
Budget |
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0 | Hits : 1249
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Govt says no to CAs on both Audit, Management panels of Banks
Posted Date : 23-Jun-2014 , 08:53:00 am | Posted By CASANSAAR
In a bid to strengthen corporate governance in banks, the government has decided that chartered accountants who are a part of the management committee of banks will not sit on the bank’s audit committee.
The June 10 order, received mixed reactions from the CA community. While some hav...
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Category :
Auditing |
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0 | Hits : 3119
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New Income tax return forms seek more disclosures
Posted Date : 23-Jun-2014 , 08:30:13 am | Posted By CASANSAAR
Come tax filing season and you can always trust the income tax department to come up with something new! Revamped return forms, a widening of the compulsory e-filing net and exemptions from filing returns for certain categories of assesses were the salient changes in the last few seasons. This year,...
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Income Tax |
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0 | Hits : 1939
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