Taxpayers to share their email-id, cell phone in Income-Tax returns
Posted Date : 04-Jul-2014 , 08:42:19 am | Posted By CASANSAAR
Taxpayers filing their I-T returns this year will now have to share their email-id and mobile phone number with the tax department. The Central Board of Direct Taxes ( CBDT), the administrative authority of the Income Tax department, has introduced a new column in the I-T returns Forms asking f...
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Income Tax |
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Call to review Bank Branch Audit Norms
Posted Date : 04-Jul-2014 , 08:33:29 am | Posted By CASANSAAR
The Narendra Modi-led Government should review the existing bank branch audit norms, K Raghu, President of the CA Institute, has said.
All bank branches in the country should be subjected to financial audit, Raghu suggested to the Finance Minister during an event here to markthe Chartered A...
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ICAI |
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1 | Hits : 2101
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GST: So Near, Yet Too Far
Posted Date : 04-Jul-2014 , 08:29:55 am | Posted By CASANSAAR
The government on Thursday said that the implementation of the much anticipated comprehensive tax regime — the Goods and Services Tax (GST) — will be “sooner than later” and the government was engaged with the states with an open mind on the subject.
“The Centr...
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GST |
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I-T moves SC with a tax demand of Rs 4,800 crore from Sahara
Posted Date : 03-Jul-2014 , 04:50:48 pm | Posted By CASANSAAR
There seems to be more trouble for the Sahara Group as the Income Tax department has now approached the Supreme Court with a tax demand of Rs 4,800 crore for the last 3 years. This comes even as Sahara chief Subrata Roy has sought an interim bail of 40 days.
Roy has sought bail to finalise ...
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Income Tax |
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0 | Hits : 917
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New Audit rules limit scope, Cost Accountants threaten Action
Posted Date : 03-Jul-2014 , 08:14:14 am | Posted By CASANSAAR
The latest government notification on cost audit rules has dealt a body blow to the cost and management accountants' profession by severely restricting its scope, something the professionals were trying hard to avoid for the past one year. What's worse is the fear that this will leave many professio...
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Auditing |
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0 | Hits : 1930
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New Companies Act puts a cap on public firms in India
Posted Date : 03-Jul-2014 , 08:08:01 am | Posted By CASANSAAR
The new Companies Act has exacerbated the already existing disparity in the treatment of subsidiaries of Indian public companies and overseas firms. While the subsidiary of an Indian public company is also deemed to be a public company, Indian subsidiaries of foreign compani...
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Corporate Law |
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0 | Hits : 1268
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ICSI extends last date of payment of Membership & COP Fee for 2014-15
Posted Date : 03-Jul-2014 , 08:07:07 am | Posted By CASANSAAR
The annual membership fee and certificate of practice fee for the year 2014-15 became due for payment w.e.f. 1st April, 2014. The last date for payment of fee was 30th June, 2014 which has been extended upto 31st August, 2014.
The membership and certificate of pract...
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ICSI |
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0 | Hits : 991
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Printing Process for Union Budget 2014-15 Commenced with Halwa Ceremony
Posted Date : 03-Jul-2014 , 07:49:27 am | Posted By CASANSAAR
More than 100 officials involved in making the Union Budget are locked in from today in the Budget Press in North Block and will remain there till the Finance Minister’s Budget Speech is over in Lok Sabha on 10th July, 2014. ‘Halwa Ceremony’ marking the commencement of printing pro...
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Budget |
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0 | Hits : 1042
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70 New Special Income Tax Offices to Come up This Fiscal
Posted Date : 02-Jul-2014 , 10:30:27 pm | Posted By CASANSAAR
Seventy new special Income Tax department offices called the 'Aaykar Sampark Kendras' will be opened across the country during the current financial year to help tax payers file returns and address their grievances.
The Central Board of Direct Taxes (CBDT), the administrative authority of t...
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Category :
Income Tax |
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0 | Hits : 1003
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PM praises CAs on Chartered Accountants Day
Posted Date : 02-Jul-2014 , 08:55:24 am | Posted By CASANSAAR
Prime Minister Narendra Modi Tuesday praised the country's chartered accountants and said they had a "crucial role to play in India's progress".
"I congratulate my CA friends on Chartered Accountants Day & convey my best wishes. They have a crucial role to play in India's...
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General |
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0 | Hits : 2295
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RBI directs banks to oppose loan waiver proposal
Posted Date : 02-Jul-2014 , 08:51:36 am | Posted By CASANSAAR
A fresh diktat from the Reserve Bank of India, barring banks from giving in to government pressure and waive off farm loans, could be a death blow to lakhs of farmers, who are seeking a bailout package.
At a time when governments in newly created Telangana and Andhra Pradesh are under intense press...
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RBI |
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0 | Hits : 1045
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Finmin to fast-track I-T appeals cases to generate revenue
Posted Date : 02-Jul-2014 , 08:50:24 am | Posted By CASANSAAR
CBDT plan to unlock Rs 4.5 lakh crore stuck in such cases ready
The finance ministry is working on a strategy for raking in more revenue to gain the much-needed fiscal space in the budget.
The finance minister will look at unlocking almost Rs 4.5 lakh crore caug...
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Income Tax |
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0 | Hits : 877
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On the Occasion of CA's Day, CASANSAAR offers its users a Discount of 20% on Website Development
Posted Date : 01-Jul-2014 , 12:17:19 pm | Posted By CASANSAAR
On the Occasion of Chartered Accountants Day, CASANSAAR offers its users a Discount of 20% on Website Development.
- You can now get your Professional Website developed on discounted Prices of Rs. 2500/- with 2 email id's having space of 2GB Each.- This offer is only for Chartered Accountan...
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General |
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0 | Hits : 1063
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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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0 | Hits : 877
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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 : 1499
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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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Banking |
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0 | Hits : 1023
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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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Category :
Income Tax |
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0 | Hits : 1106
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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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Category :
General |
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0 | Hits : 791
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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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Category :
Income Tax |
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0 | Hits : 1004
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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 : 984
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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 : 1286
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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 : 1013
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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 : 1030
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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 : 1082
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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 : 956
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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 : 2057
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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 : 1558
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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 : 1054
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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 : 894
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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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Income Tax |
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0 | Hits : 968
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