Parliament passes Chartered Accountants, Cost and Works Accountants and Company Secretaries (Amendment) Bill
Posted Date : 06-Apr-2022 , 08:28:24 am | Posted By CASANSAAR
The Parliament has passed the Chartered Accountants, the Cost and Works Accountants and the Company Secretaries (Amendment) Bill, 2022 with the Rajya Sabha approving it today. The Lok Sabha has already passed the Bill. The Bill seeks to amend the Chartered Accountants Act, 1949, the Cost and Works A...
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Income Tax |
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Deferment of certain provisions of Volume-I of Revised Code of Ethics, 2019 - ICAI
Posted Date : 01-Apr-2022 , 10:09:54 am | Posted By CASANSAAR
Ethical Standards Board
The Institute of Chartered Accountants of India
31st March, 2022
ANNOUNCEMENT
Sub.: Deferment of certain provisions of Volume-I of Revised Code of Ethics, 2019
As the members are aware, the revised 12th edition of Code of Ethics has come into effect from ...
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ICAI |
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0 | Hits : 2292
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CBDT extends last date for filing of Form No.10AB for seeking registration or approval
Posted Date : 01-Apr-2022 , 08:24:35 am | Posted By CASANSAAR
On consideration of difficulties in electronic filing of Form No.10AB as stipulated in Rule 2C or 11AA or 17A of the Income-tax Rules, 1962, the Central Board of Direct Taxes (CBDT), extends the last date for electronic filing of Form No.10AB.
The application for registration or approval unde...
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CBDT |
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SEBI clarifies on new norms for related party transactions
Posted Date : 31-Mar-2022 , 09:19:28 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) on Wednesday clarified on the new norms governing related party transactions that will come into effect from April 1.
The regulator said listed companies need not seek fresh approval from the shareholders for a related party transaction (RPT) th...
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Income Tax |
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CBDT prescribes fees u/s 234H for not linking PAN with Aadhaar
Posted Date : 31-Mar-2022 , 08:09:54 am | Posted By CASANSAAR
Under the provisions of the Income-tax Act, 1961 (“the Act”), every person who has been allotted a PAN as on 1st July, 2017 and is eligible to obtain Aadhaar Number, is required to intimate his Aadhaar to the prescribed authority on or before 31st March, 2022. On failure to do so, his PA...
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Income Tax |
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Bank Branch Audit 2022 - Update on allotment of Branches
Posted Date : 30-Mar-2022 , 10:19:28 pm | Posted By CASANSAAR
Bank Branch Audit 2022 - Update on allotment of Branches
As per information received, RBI has approved the Bank Branch Audit Panel. Banks start sending mails for allotment of Branches..
We Have Posted all details of Bank Branch Audit Allotment at our Twitter Account,
...
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Income Tax |
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5 | Hits : 21419
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Lok Sabha passes Chartered Accountants, the Cost and Works Accountants, Company Secretaries (Amendment) Bill 2021
Posted Date : 30-Mar-2022 , 07:09:17 pm | Posted By CASANSAAR
Lok Sabha today passed the Chartered Accountants, the Cost and Works Accountants and the Company Secretaries (Amendment) Bill 2021. Speaking on the Bill, Finance Minister Nirmala Sitharaman today asserted that there is no proposal or intention to infringe upon the autonomy of these three institution...
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ICAI |
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Lok Sabha discusses Bill to amend CA, CS, CMA Act
Posted Date : 30-Mar-2022 , 08:26:08 am | Posted By CASANSAAR
The Lok Sabha has taken up the Chartered Accountants, the Cost and Works Accountants and the Company Secretaries (Amendment) Bill, 2021 for consideration and passing. The Bill seeks to amend the Chartered Accountants Act, 1949, the Cost and Works Accountants Act, 1959, and the Company Secretaries Ac...
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ICAI |
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1 | Hits : 1491
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India loses Rs 100 crore to bank fraud every day over past 7 years - RBI
Posted Date : 30-Mar-2022 , 08:09:59 am | Posted By CASANSAAR
India lost at least Rs 100 crore every day to bank fraud or scams over the past seven years, although there was a year-on-year reduction in the total amount involved, according to RBI data.
The finance ministry, however, said measures put in place for prompt reporting and prevention had led t...
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RBI |
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GST rules changing from April 1, to impact lakhs of companies in India
Posted Date : 30-Mar-2022 , 08:01:57 am | Posted By CASANSAAR
Central Board of Indirect Taxes and Customs has said that businesses with turnover of over Rs 20 crore will have to generate electronic invoice for B2B transactions from April 1, 2022.
Under Goods and Services Tax (GST) law, e-invoicing for business-to-business (B2B) transactions was made manda...
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GST |
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0 | Hits : 888
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Bank Branch Audit 2022 Updates
Posted Date : 28-Mar-2022 , 08:45:21 am | Posted By CASANSAAR
Bank Branch Audit 2022 Updates :-
RBI has sent the Branch Audit Panel to Banks.
(www.casansaar.com)
As per information from Members, Following Banks has started sending emails which can be either to Existing or to New Auditors (as informed):-
CLICK ON THE LINK AND CHECK DETAILS R...
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Bank Branch Audit |
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34 | Hits : 51944
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Finance Bill, 2022 passed in Lok Sabha
Posted Date : 25-Mar-2022 , 09:51:26 pm | Posted By CASANSAAR
The Lok Sabha on March 25 passed the Finance Bill 2022, which gives effect to new taxation, thus completing the Budgetary exercise for 2022-23 fiscal.
The Finance Bill was approved by the Lower House after accepting 39 official amendments moved by Finance Minister Nirmala Sitharaman and rejecti...
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Income Tax |
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0 | Hits : 1021
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Parliamentary Panel pitches for ending ICAI’s statutory monopoly
Posted Date : 24-Mar-2022 , 08:12:30 am | Posted By CASANSAAR
A Parliamentary panel has said that government should consider setting up Indian institutes of accounting (IIAs) akin to IITs and IIMs across the country for enhancing the development of accounting and finance profession.
This observation was made by the standing committee on finance in its rep...
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Income Tax |
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0 | Hits : 4737
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CBIC issues scrutiny norms related to GST
Posted Date : 23-Mar-2022 , 08:39:04 am | Posted By CASANSAAR
The Central Board of Indirect Taxes & Customs (CBIC) on Tuesday issued scrutiny guidelines for GST, for the first two years of the new indirect tax regime, as part of a plan to plug leakages and shore up collections.
The CBIC has shared an indicative list of parameters, which suggested that...
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GST |
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0 | Hits : 1190
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Banks Board Bureau shortlists MDs for four public sector banks
Posted Date : 17-Mar-2022 , 09:49:56 am | Posted By CASANSAAR
The Banks Board Bureau, the body which selects chief executives for financial entities in the public sector, has identified managing directors for four lenders – Union Bank of India, Indian Overseas Bank, Punjab & Sind Bank and State Bank of India.
The board has shortlisted A Manimekhal...
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Banking |
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PNB reports borrowing fraud of over ₹2,000 cr in NPA account
Posted Date : 16-Mar-2022 , 08:41:29 am | Posted By CASANSAAR
State-owned Punjab National Bank (PNB) has reported a borrowing fraud of over ₹2,000 crore in the non-performing account of IL&FS Tamil Nadu Power Co. Ltd.
A fraud of ₹2,060.14 crore is being reported by Bank to RBI in the accounts of the company, the Bank said in a filing
The lend...
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Banking |
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0 | Hits : 1629
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RBI imposes penalty on these 8 co-operative banks
Posted Date : 15-Mar-2022 , 08:07:47 am | Posted By CASANSAAR
The Reserve Bank of India has imposed a penalty of Rs 12.75 lakh on eight cooperative banks for deficiencies in regulatory compliances, the central bank said on Monday.
The RBI has slapped a penalty of Rs 4 lakh on The Nabapalli Cooperative Bank Limited, Barasat, 24 Paraganas (N), West Bengal f...
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RBI |
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CVC recommends Special CAG audit of ICAI’s books.
Posted Date : 12-Mar-2022 , 09:50:13 am | Posted By CASANSAAR
The Central Vigilance Commission (CVC) has recommended a special audit into the accounts of the Institute of Chartered Accountants of India (ICAI) by the national auditor, the Comptroller and Auditor General (CAG).
It has also asked for greater disclosures and transparency in the functioning ...
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ICAI |
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RBI bars Paytm Payments Bank from opening new accounts with immediate effect
Posted Date : 12-Mar-2022 , 09:33:52 am | Posted By CASANSAAR
Reserve Bank of India (RBI) has barred Paytm Payments Bank from opening new accounts with immediate effect. RBI has also directed Paytm Payments Bank to appoint an IT audit firm to conduct a comprehensive audit of its IT system.
In a statement, RBI said the onboarding of new customers will be s...
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RBI |
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CGST Delhi officials bust a syndicate of 7 firms in GST evasion of more than Rs 85 crore
Posted Date : 11-Mar-2022 , 08:14:04 pm | Posted By CASANSAAR
Through extensive analysis of E-way bills, CGST Delhi East Commissionerate had busted a syndicate of five firms who were engaged in availing and utilising fake Input Tax Credit (ITC) of Goods and Services Tax (GST).
During further investigation it was found that this syndicate was using two mor...
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Income Tax |
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0 | Hits : 1942
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Govt appoints SBI MD Ashwini Bhatia as SEBI member
Posted Date : 11-Mar-2022 , 08:09:24 pm | Posted By CASANSAAR
The government has appointed State Bank of India (SBI) managing director Ashwani Bhatia as whole-time member (WTM) of the Securities and Exchange Board of India (SEBI).
The Appointments Committee of the Cabinet (ACC) has approved the appointment of Bhatia as a member initially for a period of...
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SEBI |
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RBI clarifies on the mode of receipt of complaints under Ombudsman Scheme
Posted Date : 10-Mar-2022 , 11:17:28 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has clarified on the mode of receipt of complaints under the integrated ombudsman scheme(RB-IOS), saying it has taken note of various instances of misinformation being spread through social media about the scheme.
Instances of misinformation being spread through ...
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Income Tax |
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0 | Hits : 1440
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Government appoints top bureaucrats to SEBI board
Posted Date : 10-Mar-2022 , 08:39:43 am | Posted By CASANSAAR
The government has appointed economic affairs secretary Ajay Seth and corporate affairs secretary Rajesh Verma as part-time members to the board of capital markets regulator Sebi. They will replace Anand Mohan Bajaj, additional secretary in the department of economic affairs, and KVR Murty, joint se...
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SEBI |
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0 | Hits : 1249
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RBI launches UPI123pay and 24x7 helpline for digital payments in Mumbai
Posted Date : 09-Mar-2022 , 10:01:52 am | Posted By CASANSAAR
RBI launched UPI for feature phones called UPI123pay. RBI governor Shaktikanta Das launched the UPI123pay and also launched a 24x7 helpline for digital payments in Mumbai. This new initiative by RBI will facilitate use of UPI with text and allow feature phone users to seamlessly perform various fina...
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RBI |
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0 | Hits : 929
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FM raps CBDT and CBIC for not addressing tax assessees grievances
Posted Date : 08-Mar-2022 , 09:16:12 am | Posted By CASANSAAR
Union Finance Minister Nirmala Sitharaman on Monday came down heavily on the tax boards for allegedly not responding to grievances of the tax assessees and directed their officials to reserve Saturdays to hold meetings with them.
During the Budget Outreach Programme between Finance Ministry off...
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Finance |
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0 | Hits : 3312
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Clarification with regard to CA /CA Firms regarding registration on GeM Portal
Posted Date : 05-Mar-2022 , 09:00:51 am | Posted By CASANSAAR
As the members are aware, Government of India has mandated procurement of goods and services by Government Department/organisations through GeM (Government e- marketplace) portal.
The Institute has been receiving queries as to whether Chartered Accountants in Practice/Firms of Chartered Accou...
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ICAI |
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0 | Hits : 1722
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CBIC cautions against sharing Aadhaar, PAN details without valid reasons
Posted Date : 04-Mar-2022 , 09:32:34 am | Posted By CASANSAAR
CBIC cautioned the public against sharing Aadhaar and PAN details without a valid reason or for monetary gains, saying that the information could be misused by fraudsters for GST evasion.
In a tweet, the Central Board of Indirect Taxes and Customs (CBIC) said Aadhaar and PAN details can be used...
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GST |
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0 | Hits : 1759
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Auto-population of e-invoice details into GSTR-1
Posted Date : 04-Mar-2022 , 09:19:37 am | Posted By CASANSAAR
Generation of e-invoice is mandatory for certain class of taxpayers, as notified by the Government. These taxpayers are required to prepare & issue their e-invoices by reporting their invoice data in the prescribed format (e-invoice schema in FORM GST INV-01) and reporting the same on ...
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GST |
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0 | Hits : 1024
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GST collection crosses 1.30 lakh Cr mark in February 2022
Posted Date : 01-Mar-2022 , 06:45:38 pm | Posted By CASANSAAR
Finance Ministry said that more than one lakh 33 thousand crore rupees Gross GST Revenue was collected during the month of February.
It said that the collection of revenues for the month of February this year is 18 percent higher than the GST revenues in the same month last year and 26 perce...
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GST |
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0 | Hits : 974
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CBI seeks prosecution sanction against ex-MD, two officials of bank in PNB fraud case
Posted Date : 01-Mar-2022 , 10:28:03 am | Posted By CASANSAAR
The CBI has sought sanction to prosecute then Punjab National Bank (PNB) managing director and chief executive officer Usha Ananth Subramanian and executive directors K. V. Brahmaji Rao and Sanjiv Sharan in connection with the bank fraud case against fugitive Mehul Choksi’s Gitanjali group of ...
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Banking |
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0 | Hits : 1443
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