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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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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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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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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Tax Audit |
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SEBI encourages investors to file their complaints through SCORES portal
Posted Date : 06-Jan-2022 , 08:55:40 am | Posted By CASANSAAR
In a move to increase awareness regarding online mechanisms for investor grievance redressal, SEBI advised all recognized stock exchanges including commodity derivatives exchanges/ depositories/ clearing corporations to display the information to direct investors to SCORES website, on the home page ...
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SEBI |
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Xiaomi Technology India Pvt Ltd evades customs duty of Rs 653 Cr - FinMin
Posted Date : 06-Jan-2022 , 08:48:46 am | Posted By CASANSAAR
The Finance Ministry has said that gadget manufacturer Xiaomi Technology India Private Limited has evaded customs duty of 653 crore rupees. Xiaomi India sales products under the MI brand.
An investigation was initiated by the Directorate of Revenue Intelligence against Xiaomi India and its contra...
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Custom |
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0 | Hits : 1881
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SBI not to levy service charge on online IMPS transactions up to Rs 5 lakh
Posted Date : 05-Jan-2022 , 08:33:19 am | Posted By CASANSAAR
Public sector State Bank of India (SBI), on January 4 announced it would not levy any service charge on online Immediate Payment Service (IMPS) transactions up to Rs 5 lakh.
Earlier, online IMPS transactions up to Rs 2 lakh were exempted from service charge.
"In an aim to...
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Banking |
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Income Tax department eases norms for ‘faceless’ appeal scheme
Posted Date : 30-Dec-2021 , 09:54:16 am | Posted By CASANSAAR
The Income Tax department has brought in changes to the existing faceless appeal scheme, easing the process for taxpayers wanting a personal hearing through video conference while appealing against a tax demand by the department.
The Central Board of Direct Taxes (CBDT) on December 28, notified...
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Income Tax |
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Reserve Bank of India imposes Monetary Penalty on two Payment System Operators
Posted Date : 24-Dec-2021 , 09:46:26 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has imposed monetary penalty on the following two Payment System Operators (PSOs) for committing offences of the nature referred to in Section 26 (6) of the Payment and Settlement Systems Act, 2007 (PSS Act).
Sr. No.
...
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RBI |
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SEBI releases framework for advisory, portfolio management services
Posted Date : 22-Dec-2021 , 08:55:14 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) on Tuesday came up with a framework pertaining to fees for investment advisory services for accredited investors. Also, the capital markets regulator put in place guidelines on exit load charges applicable to the client of the portfolio manager.
...
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Income Tax |
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0 | Hits : 1503
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Companies spent Rs 1.09 lakh Cr towards CSR activities in 7 years
Posted Date : 22-Dec-2021 , 08:47:51 am | Posted By CASANSAAR
Companies shelled out Rs 1.09 lakh crore towards various CSR activities, including those related to health, education and poverty eradication, under the companies law in the last seven financial years, according to the corporate affairs ministry.
Under the Companies Act, 2013, certain class of ...
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Corporate Law |
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Govt recovers Rs. 13,109 Cr by selling assets of defaulters
Posted Date : 21-Dec-2021 , 08:33:01 am | Posted By CASANSAAR
The government has recovered over ₹13,109 crore by selling assets of defaulters such as Nirav Modi, Vijay Mallya, and Mehul Choksi as of July this year, finance minister Nirmala Sitharaman said Monday.
She added that another ₹792 crore was recovered from Vijay Mallya and others, as of July....
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Banking |
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Delhi High Court quashes Income Tax reassessment notices issued after March 31
Posted Date : 16-Dec-2021 , 08:40:58 am | Posted By CASANSAAR
The Delhi High Court on Wednesday quashed all the re-assessment notices issued by the I-T Department after March 31 this year under a provision of the Income Tax Act. The court, which passed a common judgement in a batch of 1,346 petitions, was dealing with a question as to whether the government or...
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Income Tax |
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Cabinet clears draft Bill for linking Aadhaar & voter ID
Posted Date : 16-Dec-2021 , 08:36:42 am | Posted By CASANSAAR
The Union Cabinet on Wednesday cleared proposed amendments to the electoral law seeking to bring in key electoral reforms such as linkage of voter ID with Aadhaar so as to weed out bogus and duplicate entries in the electoral roll. Sources indicated that another reform sought to be implemented is al...
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Income Tax |
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Bank deposit insurance cover upped to Rs 5 lakh, refund in 90 days
Posted Date : 13-Dec-2021 , 08:03:16 am | Posted By CASANSAAR
Union Minister of Commerce and Industry Piyush Goyal on Sunday said that the Central government has increased the bank deposit insurance cover, in case of problems occurring such as closure, from Rs 1 lakh to Rs 5 lakh. The amount has to be refunded to the depositor within 90 days.
Addressing &...
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Banking |
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SEBI may get to regulate private cryptocurrencies
Posted Date : 08-Dec-2021 , 07:47:10 am | Posted By CASANSAAR
The government may ask stock and commodity markets watchdog Sebi to oversee cryptocurrencies and regulate the affairs of exchanges dealing with them, as it considers a proposal to classify cryptos as financial assets, industry sources told FE.
Investors may get at least three months to declare ...
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SEBI |
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GST collections in November cross Rs 1.3 lakh Cr, second highest ever
Posted Date : 02-Dec-2021 , 08:25:21 am | Posted By CASANSAAR
GST revenues for November this year have been the second highest ever since introduction of GST. The gross GST revenue collected in November this year is 1 lakh 31 thousand 526 crore rupees. For the second straight month Gross GST collection has crossed 1 lakh 30 thousand crore rupees. The revenues ...
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GST |
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Rs 26,697 cr lying in dormant accounts of banks - FM Sitharaman
Posted Date : 01-Dec-2021 , 08:32:53 am | Posted By CASANSAAR
As much as Rs 26,697 crore was lying in dormant accounts of banks, including cooperative banks, as on December 31, 2020, Finance Minister Nirmala Sitharaman informed the Rajya Sabha on Tuesday.
This money is lying in nearly 9 crore accounts which have not been operated for 10 years.
As per...
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Banking |
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CBIC detects bogus tax credit claims worth ₹38,000 cr since last November
Posted Date : 01-Dec-2021 , 08:28:35 am | Posted By CASANSAAR
The Central Board of Indirect Taxes and Customs (CBIC) has since last November detected ₹38,000 crore of bogus claims from businesses for input tax credit in a technology and data analytics enabled drive against tax evasion, said a person familiar with the development.
The result of the CBIC&...
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Income Tax |
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Employees liable to pay GST on salaries received during notice period - AAR
Posted Date : 01-Dec-2021 , 08:26:32 am | Posted By CASANSAAR
Amid a talent war among companies, the issue of high attrition rate has taken centre stage in the corporate world. However, another crucial point of debate among tax officials and companies is the tax treatment on salaries of employees serving the customary notice period.
A recent ruling in the...
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GST |
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0 | Hits : 2228
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RBI imposes penalty of Rs 1 Cr on Union Bank of India
Posted Date : 30-Nov-2021 , 08:26:38 am | Posted By CASANSAAR
The Reserve Bank of India on Monday imposed a monetary penalty of Rs 1 crore on state-owned Union Bank of India for deficiencies in regulatory compliance. The penalty was imposed by an order dated November 25 for non-compliance with the certain provisions of directions issued by the RBI contained in...
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RBI |
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Profile, Vision & Mission of CA. Vivek Khurana - Ballot No. 14 of Central Council Election.
Posted Date : 27-Nov-2021 , 09:22:37 am | Posted By CASANSAAR
Elections to the Central & Regional Councils of The Institute of Chartered Accountants of India are round the corner. With the God’s grace, blessings of my Late Parents & Elders, Support of my Friends and well Wishers I have filed the Nomination Papers for my candidature for the ...
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Income Tax |
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0 | Hits : 2086
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SEBI mulls overhauling preferential allotment rules
Posted Date : 27-Nov-2021 , 09:20:25 am | Posted By CASANSAAR
Sebi on Friday proposed relaxing pricing norms and lock-in requirements to make it easier for companies to raise funds through preferential allotment of shares.
In addition, the regulator has proposed allowing pledging of shares allotted to promoter or promoter group under preferential issue duri...
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Income Tax |
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RBI Imposes Rs. 1 Crore Penalty On State Bank Of India For Violating Norms
Posted Date : 27-Nov-2021 , 09:19:11 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) today imposed a monetary penalty of ₹ 1 crore on the country's largest lender State Bank of India (SBI) For holding shares in the borrower companies of an amount exceeding 30 per cent of the paid-up share capital of those companies. The RBI imposed the penalty f...
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RBI |
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0 | Hits : 1094
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SEBI announces rights and responsibilities of investing in Securities Market
Posted Date : 18-Nov-2021 , 10:32:08 am | Posted By CASANSAAR
Securities Exchange Board of India (SEBI) on Wednesday released an investor charter outlining the rights and responsibilities of investors investing in the securities market.
The market regulator said it aims to protect the interest of investors by enabling them to understand the risks in...
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SEBI |
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SEBI revises guidelines for processing of draft schemes
Posted Date : 17-Nov-2021 , 08:31:46 am | Posted By CASANSAAR
Markets regulator on Tuesday revised guidelines for processing of draft schemes filed with the stock exchanges. "These amendments are aimed at ensuring that the recognised stock exchanges refer draft schemes to Sebi only upon being fully convinced that the listed entity is in compliance with Se...
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SEBI |
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PNB Senior Manager, 2 others sentenced to 5 years in jail in Rs 40 lakh fraud case
Posted Date : 16-Nov-2021 , 08:35:55 am | Posted By CASANSAAR
Special CBI court in Gujarat’s Ahmedabad has sentenced a senior manager of Punjab National Bank (PNB) and two businessmen to five years of imprisonment for defrauding the bank of Rs 40 lakh, officials said.
The court also imposed a fine of Rs 7.5 lakh on Sanjiv Kamalkar Inamdar, the then ...
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Banking |
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