Statutory Auditors may not get large companies’ non-audit operations
Posted Date : 21-Feb-2022 , 10:12:24 pm | Posted By CASANSAAR
The government is looking to ban statutory auditors from taking up non-audit work on “public interest” companies — which means those that are listed or are above a certain threshold — and their subsidiaries.
Besides, it is exploring the possibility of joint audit for cer...
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Income Tax |
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RRA recommends withdrawal of 100 more circulars - RBI
Posted Date : 21-Feb-2022 , 12:19:52 pm | Posted By CASANSAAR
The Reserve Bank of India on Friday said the Regulations Review Authority has recommended withdrawing about 100 more redundant circulars, besides elimination of certain paper based returns, a move expected to ease compliance for regulated entities.
The Reserve Bank of India has set up the Regulat...
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RBI |
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Over 6,800 Companies and over 2,000 Auditors under NFRA purview
Posted Date : 19-Feb-2022 , 09:22:06 am | Posted By CASANSAAR
Audit watchdog National Financial Reporting Authority (NFRA) said on Friday that 6,820 companies and over 2,000 auditors come under its regulatory ambit as on 31 March 2021.
The watchdog keeps a database of the entities that come under its purview for regulatory oversight. The latest database s...
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NFRA |
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Karnataka Govt. blacklists 60 Chartered Accountants for irregularities
Posted Date : 18-Feb-2022 , 02:59:44 pm | Posted By CASANSAAR
The State Government has blacklisted 60 Chartered Accountants (CAs) who were under scanner for irregularities, Cooperation Minister S T Somashekar said on Tuesday.
Responding to a question by MLC Bharathi Shetty, the minister said these CAs will not be allowed to practise henceforth. The ...
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Chartered Accountant |
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More than 29.8 lakh Tax Audit Reports (TARs) filed on the e-Filing portal of the Income Tax
Posted Date : 17-Feb-2022 , 08:20:19 am | Posted By CASANSAAR
More than 29.8 lakh major Tax Audit Reports (TARs) have been filed on the e-Filing portal of the Income Tax Department as on 15th February, 2022. On the last day, over 4.14 lakh major Tax Audit Reports/forms have been filed.
Out of 29.8 lakh of the major statutory forms, over 2.65 lakh Form ...
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Tax Audit |
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0 | Hits : 1038
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Chartered Accountant's Assets worth Rs. 56 Cr Attached in Syndicate Bank Fraud Case.
Posted Date : 15-Feb-2022 , 09:55:24 am | Posted By CASANSAAR
The Enforcement Directorate (ED) has attached immovable and movable properties valued at ₹ 56.81 crore belonging to Rajasthan's Udaipur-based Chartered Accountant Bharat Bomb and their other associates in Syndicate Bank fraud case amounting to ₹ 1,267.79 crore, the agency said on Monday.
...
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Chartered Accountant |
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0 | Hits : 4718
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SEBI cancels registration of 4 stock brokers, 11 depository participants
Posted Date : 15-Feb-2022 , 09:44:22 am | Posted By CASANSAAR
Sebi (Securities and Exchange Board of India) on Monday cancelled the registration of 11 depository participants, including Karvy Stock Broking Ltd. In a separate order, the market regulator has also cancelled the registration certificate of four other stock brokers
Irrespective of the cancella...
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SEBI |
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Over 6.2 cr ITRs, 21 lakh audit reports filed on new e-filing portal
Posted Date : 12-Feb-2022 , 09:58:55 am | Posted By CASANSAAR
“More than 6.2 crore Income Tax Returns (ITRs) and about 21 lakh major Tax Audit Reports (TARs) have been filed on the new e-Filing portal of the Income Tax Department as on 10th February 2022,” the tax department said in a statement.
Out of the 6.2 crore ITRs filed for AY 2021-22, ...
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Income Tax |
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0 | Hits : 1178
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SEBI directs AMCs to form audit committee from August
Posted Date : 10-Feb-2022 , 09:08:10 am | Posted By CASANSAAR
Markets regulator Sebi on Wednesday asked asset management companies (AMCs) to form audit committees which will be responsible for oversight of financial reporting process, audit process and compliance with laws and regulations, among others. The circular will come into force with effect from August...
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SEBI |
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CBIC to scale up departmental audits to boost GST compliance
Posted Date : 08-Feb-2022 , 09:27:48 am | Posted By CASANSAAR
The Central Board of Indirect Taxes and Customs (CBIC) is set to scale up scrutiny and departmental audits of risky taxpayers to improve goods and services tax (GST) collections while using data and technology to ensure that officials make decisions transparently, chairman Vivek Johri said in an int...
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GST |
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Gross non-performing assets of scheduled commercial banks have declined
Posted Date : 08-Feb-2022 , 09:15:50 am | Posted By CASANSAAR
As per Reserve Bank of India (RBI) data on global operations, gross non-performing assets (GNPAs) of scheduled commercial banks (SCBs) have declined from Rs. 9,33,779 crore (GNPA ratio of 9.07%) as on 31.3.2019 to Rs. 8,00,463 crore (GNPA ratio of 6.93%) as on 30.9.2021. This was stated b...
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Banking |
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Around 6.17 crore ITRs, 19 lakh TARs filed on the new e-Filing portal of IT Department
Posted Date : 08-Feb-2022 , 09:12:54 am | Posted By CASANSAAR
Around 6.17 crore Income Tax Returns, ITRs and about 19 lakh major Tax Audit Reports TARs have been filed on the new e-Filing portal of the Income Tax Department as of yesterday. Out of 6.17 crore ITRs filed for Assessment Year 2021-22, 48 percent of these are ITR-1, 9 percent is ITR-2, 13 percent i...
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Category :
Income Tax |
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0 | Hits : 999
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SEBI lays guidelines for MFs with respect to Ind AS
Posted Date : 05-Feb-2022 , 09:37:02 am | Posted By CASANSAAR
Capital markets regulator Sebi came out with guidelines for asset management companies (AMCs) with respect to following Indian Accounting Standards (Ind AS).
Sebi has amended mutual fund rules which mandated AMCs to prepare the financial statements and accounts of the mutual fund schemes in acc...
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SEBI |
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SEBI overhauls high-power advisory committee on settlement orders
Posted Date : 04-Feb-2022 , 09:26:09 am | Posted By CASANSAAR
Capital markets regulator Sebi has restructured its four member high-power advisory committee on settlement orders and compounding of offences.
The committee will now be chaired by Jai Narayan Patel, former chief justice of Calcutta High Court, according to a latest update with the Securities and...
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SEBI |
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Former Sports Secretary Ravi Mittal appointed as IBBI Chairperson
Posted Date : 04-Feb-2022 , 09:17:27 am | Posted By CASANSAAR
The government has appointed former civil servant Ravi Mittal as the chairperson of the Insolvency and Bankruptcy Board of India (IBBI), according to sources. The appointment comes little over four months after the post fell vacant following the retirement of M S Sahoo who completed his five-year te...
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Corporate Law |
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Summary of Union Budget 2022-23
Posted Date : 01-Feb-2022 , 01:34:33 pm | Posted By CASANSAAR
India’s economic growth in the current year is estimated to be 9.2 per cent, highest among all large economies. The overall, sharp rebound and recovery of the economy from the adverse effects of the pandemic is reflective of our country’s strong resilience. This was stated by Union Minis...
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Budget |
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Key Highlights of the Union Budget 2022-23
Posted Date : 01-Feb-2022 , 01:32:59 pm | Posted By CASANSAAR
The Union Budget seeks to complement macro-economic level growth with a focus on micro-economic level all inclusive welfare. The Union Minister for Finance & Corporate Affairs, Smt Nirmala Sitharaman tabled the Union Budget 2022-23 in Parliament today.
The key highlights of the budget are as ...
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Budget |
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Economic Survey for the year 2021-22 to be tabled in Parliament today
Posted Date : 31-Jan-2022 , 09:30:39 am | Posted By CASANSAAR
The Budget Session of Parliament begins today. Economic Survey 2021-22 will also be tabled today.
Finance Minister, Nirmala Sitharaman, will present the Union Budget for the year 2022-2023 tomorrow in the Lok Sabha and its copy will be laid on the Table of the Rajya Sabha soon thereafte...
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Category :
Budget |
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Budget Session of Parliament begins with President's joint address to both Houses at 11 AM
Posted Date : 31-Jan-2022 , 08:53:45 am | Posted By CASANSAAR
The Budget Session of Parliament begins today. The session will commence with President Ram Nath Kovind's address to both the Houses of Parliament assembled together at 11 AM in Central Hall. After that, the copy of the President's address will be tabled in both the Houses. Economic Survey 2...
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Category :
Budget |
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RBI imposes monetary penalty on 8 cooperative banks
Posted Date : 25-Jan-2022 , 08:16:54 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on January 24 imposed monetary penalties on eight cooperative banks for the violation of loan and know your customer norms.
These banks are Rajkot Peoples Cooperative Bank, Vasai Janata Sahakari Bank, Mogaveera Cooperative Bank, The Varachha Cooperative Bank, The...
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RBI |
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CA Foundation, Inter, Final course May Exams 2022 time table released by ICAI
Posted Date : 22-Jan-2022 , 10:00:52 am | Posted By CASANSAAR
No. 13-CA (EXAM)/M/2022: In pursuance of Regulation 22 of the Chartered Accountants Regulations, 1988, the Council of the Institute of Chartered Accountants of India is pleased to announce that the next Chartered Accountants Foundation, Intermediate and Final Examinations will be held on the dates a...
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CA Exams |
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CBDT Assures Gujarat High Court to Resolve Issues Of Assessees, Specifies Its Grievance Mechanism
Posted Date : 22-Jan-2022 , 09:53:57 am | Posted By CASANSAAR
The Gujarat high court on Friday disposed of petitions seeking extension of deadline in filing of Tax Audit Report (TAR) and Income Tax Returns (ITR), complaining about technical glitches on I-T portal, after top officials of Central Board of Direct Taxes (CBDT) gave an assurance that the problems f...
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CBDT |
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Ministry of Labour & Employment releases provisional payroll data of EPFO
Posted Date : 22-Jan-2022 , 09:36:30 am | Posted By CASANSAAR
Ministry of Labour and Employment released the provisional payroll data of EPFO today. The ministry said that EPFO added 13 lakh 95 thousand net subscribers during the month of November last year, showing an increase of around 2 lakh 85 thousand net additions over the previous month of October last ...
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General |
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SEBI launches Saa₹thi mobile app on investor education
Posted Date : 20-Jan-2022 , 09:15:21 am | Posted By CASANSAAR
Securities and Exchange Board of India (SEBI) has launched Saa₹thi, a mobile app on investor education. The new app aims to empower investors with accurate knowledge about the securities market.
Addressing the launch event in Mumbai, SEBI Chairman Ajai Tyagi said, the app will cater largely t...
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SEBI |
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0 | Hits : 1324
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Extension of last date for complying with the mandatory CPE hours’ requirements for the Calendar Year 2021 - ICAI
Posted Date : 17-Jan-2022 , 10:00:36 am | Posted By CASANSAAR
In view of impact of Covid-19 across the world and the difficulties faced by Members for completing their mandatory CPE hours’ requirements during the Calendar year 2021, it has been decided by the Competent Authority to extend the last date for complying with the CPE hours’ requirements...
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ICAI |
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Bombay HC sets aside rejection of refund claims by GST authorities
Posted Date : 17-Jan-2022 , 09:53:31 am | Posted By CASANSAAR
The Bombay High Court has quashed an order by the GST authorities that had rejected the refund claim of an assessee because it was filed after two years, a time limit set by the rules. This was done since the authorities have not taken into cognizance the earlier Supreme Court verdict that excluded ...
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GST |
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0 | Hits : 1212
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Budget session of Parliament to commence on 31st January
Posted Date : 15-Jan-2022 , 09:21:27 am | Posted By CASANSAAR
The budget session of Parliament will commence on January 31. The first half of the budget session will run from January 31 to February 11. It will reassemble on March 14 to sit until 8th of April subject to exigencies of government business. The government will present the Budget for fiscal year 20...
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Budget |
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Delhi Man Arrested For Issuing Fake GST Invoices Worth Rs. 4,521 Cr
Posted Date : 15-Jan-2022 , 09:18:48 am | Posted By CASANSAAR
GST officers have arrested one person for operating a syndicate and issuing fake invoices of ₹ 4,521 crore for availing input tax credit (ITC) benefit under goods and services tax, an official statement said on Friday.
It said scrutiny of tally data has shown that there are 636 firms being oper...
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GST |
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0 | Hits : 3690
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CBDT extends due dates for filling Audit reports and IT Returns for 2021-22
Posted Date : 11-Jan-2022 , 10:26:50 pm | Posted By CASANSAAR
On consideration of difficulties reported by the taxpayers and other stakeholders due to COVID and in electronic filing of various reports of audit under the provisions of the Income-tax Act, 1961 (the Act), the Central Board of Direct Taxes (CBDT) has decided to further extend the due dates for fil...
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Income Tax |
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Tax Audit Due Date Extension - Retweet / Comments
Posted Date : 06-Jan-2022 , 09:03:24 am | Posted By CASANSAAR
Getting Many Messages for Tax Audit Date (TAR) Extension, Do you think Date should be extended? if Yes then Retweet it, if No then comment plz.
More then 1500 Members already Retweet. Link to Retweet.
https://twitter.com/casansaar/status/1478586123865653248
...
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Category :
Tax Audit |
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0 | Hits : 2961
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