ITAT Vice-President booked by CBI in disproportionate assets case
Posted Date : 26-Jul-2013 , 07:58:16 am | Posted By CASANSAAR
CBI has booked G E Veerabhadrappa, a Vice-President ofIncome Tax Appellate Tribunal(ITAT), for allegedly amassing disproportionate assets, a charge refuted by the official who said the case was a conspiracy against him.CBI sources today alleged that Veerabhadrappa, a chartered account...
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Income Tax |
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Income Tax Department sends letters to another batch of 35000 non-filers
Posted Date : 25-Jul-2013 , 09:08:01 pm | Posted By CASANSAAR
Getting tough, the Income Tax department has sent letters to an additional 35,000 non-filers of returns.
"The Income Tax department has sent letters to another batch of 35,000 non-filers ... With this latest batch, the department has now issued letters in 2.10 lakh high pri...
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Income Tax |
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Result of the CA IPC Examinations held in May, 2013 are likely to be declared on 31st July,2013.
Posted Date : 25-Jul-2013 , 06:21:45 pm | Posted By CASANSAAR
The result of the Chartered Accountants Intermediate (IPC) Examinations held in May,2013 are likely to be declared on Wednesday, the 31st July, 2013 around 4.00 P.M. andthe same as well as the merit list (candidates securing a minimum of 55% and above marksand upto the maximum of 50th Rank on all In...
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Students Zone |
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Deadline for filing Income Tax returns extended to October 31
Posted Date : 25-Jul-2013 , 08:30:44 am | Posted By CASANSAAR
The government has extended till October 31 the deadline for filing of income tax returns for taxpayers in calamity-hit Uttarakhand. The Central Board of Direct Taxes (CBDT), the apex body for framing policies of the I-T department, has issued orders in this regard on Tuesday.
All the asses...
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Income Tax |
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RBI directs banks to collect EMIs through electronic transfers
Posted Date : 25-Jul-2013 , 08:29:08 am | Posted By CASANSAAR
Auto and home loan borrowers need not pay post-dated cheques towards EMIs as RBI has directed banks to collect monthly instalments through electronic mode wherever the facility for such fund transfer is available.
Banks are advised that no fresh or additional post-dated cheques (PDC) or equated mon...
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RBI |
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Extension of exemption granted by one more examination for students who switched over to the Intermediate(IPC) Course under Direct Entry Scheme before 30th September 2012
Posted Date : 24-Jul-2013 , 02:02:47 pm | Posted By CASANSAAR
Extension of the validity of exemption granted in a paper(s) (on the basis of securing aminimum of 60 per cent marks) by one more examination in respect of students who optedto switch over to the Intermediate (Integrated Professional Competence) Course, under theDirect Entry Scheme before 30th Septe...
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Students Zone |
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Technical hurdles delay rollout of new standard for tax audit reports
Posted Date : 24-Jul-2013 , 08:31:57 am | Posted By CASANSAAR
“The pre-fill electronic form has already been released by the tax department. If CAs try to submit the tax audit reports in the already released e-forms taking into account the revised SA 700, it will not marry and several data entries may get lost. This is the reason why ICAI has delayed it ...
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ICAI |
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No change in Passing criteria at all level of CA examination - ICAI
Posted Date : 24-Jul-2013 , 08:31:42 am | Posted By CASANSAAR
Important Announcement
July 23, 2013
It has been brought to our notice that theNotification No. 13-CA (EXAM)/N//2013 dated 5th July, 2013 (hosted on the Institute’s website on 5th July, 2013) relating to the date schedule, list ofcentres, examina...
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Students Zone |
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RBI relaxes KYC norms for banks on data updation
Posted Date : 24-Jul-2013 , 08:19:52 am | Posted By CASANSAAR
Banks will now be required to update KYC data only once in two years for high risk entities, and just once in 10 years for low-risk clients, RBI said today. "The issue has been reviewed in the light of practical difficulties/constraints expressed by bankers/customers in obta...
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RBI |
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RBI takes more steps to tighten liquidity, support rupee
Posted Date : 24-Jul-2013 , 08:13:00 am | Posted By CASANSAAR
With the rupee still continuing to be weak, the Reserve Bank today announced additional liquidity tightening measures to contain excessive speculation and volatility in the foreign exchange market.RBI has reduced the liquidity adjustment facility (LAF) for each bank from 1 per cent of...
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Income Tax |
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Newly Elected President & Vice-President of ICAI for the year 2013-14
Posted Date : 23-Jul-2013 , 02:51:35 pm | Posted By CASANSAAR
Suresh Chandra Mohanty has been elected as the new President of the Institute of Cost Accountants of India (ICAI) for the year 2013-14 in a council meeting held at the institute's headquarters inKolkata.
He succeeds Rakesh Singh. A.S.Durga Prasad has been elected ICAI vice preside...
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ICWAI |
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CBDT Releases ITR 6 for e-filing for AY 2013-14 / FY 2012-13
Posted Date : 23-Jul-2013 , 10:19:47 am | Posted By CASANSAAR
CBDT has released ITR 6 for e-filing or Online filing of Income tax Return to be used by a company, other than a company claiming exemption under section 11 for Assessment year 2013-14 or Financial Year 2012-13. The ITR-6 can be downloaded from the following w...
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Income Tax |
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Salary earners upto Rs 5 lakh need to file I-T return: CBDT
Posted Date : 23-Jul-2013 , 08:19:41 am | Posted By CASANSAAR
Unlike the past two years, salaried persons earning up to Rs 5 lakh annually will have to file income tax returns,CBDT said today. The Central Board of Direct Taxes (CBDT) had exempted salaried employees having total income of upto Rs 5 lakh including income from other sources u...
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Income Tax |
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BSNL to start CA entrance coaching
Posted Date : 23-Jul-2013 , 08:15:48 am | Posted By CASANSAAR
Bharat Sanchar Nigam Ltd (BSNL) Indore is all set to launch full-time coaching for CA entrance examination -- Common Proficiency Test (CPT) -- by the end of this month, said its officials.
This decision was taken after the success of a crash course started in April-June this year, he said.
The coa...
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Students Zone |
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RBI imposes fresh restrictions on gold imports to stem rupee slide
Posted Date : 23-Jul-2013 , 08:11:43 am | Posted By CASANSAAR
he Reserve Bank of India has made gold imports for domestic consumption tougher and forced exporters to bring home their dollar earnings quicker in yet another attempt to shore up the currency that's hurtling toward the Rs 60 mark to the US dollar again. If any importer of g...
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RBI |
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Sebi gets direct powers to attach properties, bank accounts; can order arrest of defaulters
Posted Date : 23-Jul-2013 , 08:06:45 am | Posted By CASANSAAR
In a major upgrade of powers given to Sebi, the government has allowed it to pass orders like search and seizure, attachment of properties, arrest and detention of defaulters and pass disgorgement directions to recover the wrongful gains made in contravention of laws.
At the same ti...
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SEBI |
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RBI starts scrutiny of nearly 3,000 private finance companies
Posted Date : 22-Jul-2013 , 08:41:43 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) has started scrutiny of nearly 3,000 companies which could be carrying out non-banking finance operations without requisite registration, in the wake of concerns about their actual business activities.
The central bank's move comes against the b...
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RBI |
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Special IT Return Receipt Counters for Salaried Tax Payers With Income Upto Rs. 5 Lakh
Posted Date : 22-Jul-2013 , 07:34:35 pm | Posted By CASANSAAR
The CBDT has, vide notification dated 1-05-2013, made E-filing of Return compulsory for Assessment Year 2013-14 for persons having total assessable income exceeding Five lakh rupees.
The CBDT ...
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Income Tax |
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e-file your Income Tax Returns in 10 steps
Posted Date : 22-Jul-2013 , 08:33:19 am | Posted By CASANSAAR
If you have a taxable income of Rs 5 lakh and above, it is mandatory for you to e-file your tax return. An average taxpayer should take roughly 30-40 minutes to key in all the information and upload his return. Here's how to go about it.1Log on to the Income Tax Department's portal (income...
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Income Tax |
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1 | Hits : 1972
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Madras High Court upholds VAT provision on input tax
Posted Date : 21-Jul-2013 , 08:30:41 am | Posted By CASANSAAR
The Madras High Court has upheld certain provisions of the Tamil Nadu Value Added Tax (VAT) Act which were challenged by dealers of various products/goods.
The dealers were particularly aggrieved by a provision by which authorities sought to treat the discounts that the dealers had obtained...
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VAT |
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Parl Committee on Finance finalises GST report
Posted Date : 20-Jul-2013 , 06:17:24 pm | Posted By CASANSAAR
The Parliamentary Standing Committee on Finance today finalised its report on Goods and Services Tax (GST) which will be tabled in Parliament in the monsoon session beginning August 5.Sources said the report will be sent to the Parliament today only.The GST Bill, introduced in Parliament in 2010, is...
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GST |
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CBDT moves to limit carry forward of loss forward of losses
Posted Date : 20-Jul-2013 , 08:18:30 am | Posted By CASANSAAR
In a move that will limit the carry forward of losses by businesses to reduce their tax liability in subsequent years, the revenue department has issued a ‘departmental view’ on how to set off losses while calculating the taxable income. The circular is in line with a Kerala HC judgment ...
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Income Tax |
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Detroit becomes largest US city to file for bankruptcy
Posted Date : 19-Jul-2013 , 09:24:46 pm | Posted By CASANSAAR
The city of Detroit on Thursday became the largest city in US history to file for bankruptcy protection, court documents showed.
Once the fourth largest US city, Detroit has seen its population shrink by more than half, from 1.8 million in 1950 to 685,000 today, as crime, flight to the subu...
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International Business |
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Address your tax grievances the traditional way
Posted Date : 19-Jul-2013 , 07:57:29 am | Posted By CASANSAAR
Getting across to the income tax (I-T) department when you need to address a complaint or process your refund is often tiresome and long-drawn. However, the department is trying to change this system and quicken the response time to your refund and othergrievances by issuing a unique ...
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Income Tax |
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0 | Hits : 940
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Wary auditors issue 'emphasis of matter' statements to flag likely financial risks
Posted Date : 19-Jul-2013 , 07:56:24 am | Posted By CASANSAAR
For investors, it's a new place in an annual report where they can find clues to financial risks facing a company that are currently under the radar but could snowball into something big. For auditors, it's a way to insulate themselves from a future backlash, even censure, on the quality of their au...
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Auditing |
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0 | Hits : 923
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Kings XI Punjab co-owners KPH Dream gets service tax notice
Posted Date : 19-Jul-2013 , 07:47:07 am | Posted By CASANSAAR
The Central Excise Department today said it has slapped a service tax of Rs 6 crorer on Preity Zinta co-owned KPH Dream Cricket, who are part owners of IPL franchise Kings XI Punjab.
"We have served a notice on KPH Dream Cricket, seeking service tax payment of Rs 6 crore," an official of Chandigarh...
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Service Tax |
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Now, women will get share of husband's inherited property on divorce
Posted Date : 18-Jul-2013 , 07:10:54 am | Posted By CASANSAAR
A wife will have a share in her husband's inherited or inheritable marital property on divorce, though the exact quantum of the compensation has been left to the discretion of the judge, according to a legislation that was cleared by the Union Cabinet on Wednesday.
The Cabinet also cleared the prop...
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General |
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Filing of income tax return: Special counters to be set up in Delhi
Posted Date : 18-Jul-2013 , 06:55:33 am | Posted By CASANSAAR
Special counters for filing of tax returns will be set up in the national capital. The counters would become operational from July 25 till July 31 and will remain open from 10 AM to 5 PM, officials said. July 31 is the deadline for filing of I-T returns by salaried and individual taxpayers.
The cou...
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Income Tax |
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0 | Hits : 760
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CBEC to target 12 lakh non-filers of service tax: FM
Posted Date : 17-Jul-2013 , 03:23:09 pm | Posted By CASANSAAR
In a stern message to indirect tax evaders, Finance Minister P Chidambaram today said the Revenue Department will target 12 lakh service taxassessees who have stopped filing returns."We are targeting 12 lakh non-filers and stop-filers of service tax," he told reporters after inau...
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Service Tax |
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Verification / Revaluation / Rechecking of answer books of CA Final/CPT
Posted Date : 17-Jul-2013 , 12:25:51 pm | Posted By CASANSAAR
Hi friends....many were worried about results right......??? Though you made the Paper with 100% of your efforts.....results may not be in such a way you imagined......But just wait look here because you will have 2nd chance i.e. I mean verification of your papers. For every stage of CA you have an ...
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Students Zone |
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