Govt plans to bring a bill, cryptocurrencies to be treated as commodity
Posted Date : 04-Sep-2021 , 09:18:26 am | Posted By CASANSAAR
The government is planning to define cryptocurrencies in the new draft bill that also proposes to compartmentalise virtual currencies on the basis of their use cases, three people aware of the development told ET.
Cryptocurrencies will be treated as an asset/commodity for all purposes, including ...
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General |
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SEBI asks investors to link PAN with Aadhaar by September-end for smooth transactions
Posted Date : 04-Sep-2021 , 08:33:49 am | Posted By CASANSAAR
Capital markets regulator Sebi on Friday asked investors to link their PAN with Aadhaar number by September 30 for continual and smooth transactions in the securities market.
Failing to comply with this, a person's Permanent Account Number (PAN) card will become inoperative, which means incom...
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SEBI |
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Canada's PNP issued over 3400 invitation for PR in the month of August
Posted Date : 02-Sep-2021 , 10:48:51 am | Posted By CASANSAAR
Canada’s Provincial Nominee Programs (PNP) issued over 3,400 invitations to apply for provincial nomination during the month of August.
Canada’s Provincial Nominee Programs (PNP) issued over 3,400 invitations to apply for provincial nomination during the month of August 2021. Major Pr...
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International Business |
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ICAI Election 2021 - Know Your Pooling Booth Details
Posted Date : 02-Sep-2021 , 10:44:54 am | Posted By CASANSAAR
ICAI Election 2021 Updates :-
Know your polling booth details for ICAI Elections to be held on 3rd and 4th December 2021
https://appforms.icai.org/elections/knowyourbooth2021.html...
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ICAI |
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Govt appoints JB Mohapatra as CBDT Chairman
Posted Date : 02-Sep-2021 , 10:32:39 am | Posted By CASANSAAR
The government announced on Wednesday the Appointments Committee of the Cabinet has confirmed the appointment of IRS officer Jagannath Bidyadhar Mohapatra as the Chairman of the Central Board of Direct Taxes (CBDT)
The Ministry of Personnel, Public Grievances and Pensions, in a notification said:...
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CBDT |
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GST collection crosses Rs 1.12 lakh Cr. in August 2021
Posted Date : 02-Sep-2021 , 10:30:17 am | Posted By CASANSAAR
Goods and Service Tax collection for the month of August 2021 came in at Rs 1.12 lakh crore, compared with Rs 1.16 lakh crore in July, data released by the Finance Ministry show on September 1.
This is the second consecutive month that GST collections are above the Rs 1 lakh crore mark, indicatin...
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GST |
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First time in the history, nine new Supreme Court judges to take oath today
Posted Date : 31-Aug-2021 , 07:54:05 am | Posted By CASANSAAR
Nine new judges, including three women, would be administered the oath of office as judges of the Supreme Court by Chief Justice of India (CJI) N V Ramana on Tuesday.
It is for the first time in the history of the apex court when nine judges would be taking the oath of office at one go and the sw...
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General |
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Extension of closing date of late fee amnesty scheme and time limit for filing of application for revocation of cancellation of registration
Posted Date : 30-Aug-2021 , 08:21:32 am | Posted By CASANSAAR
The Government, vide Notification No. 19/2021- Central Tax, dated 01.06.2021, had provided relief to the taxpayers by reducing / waiving late fee for non-furnishing FORM GSTR-3B for the tax periods from July, 2017 to April, 2021, if the returns for these tax periods are furnished between 0...
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GST |
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CBDT extends due dates for electronic filing of various Forms under the Income-tax Act, 1961
Posted Date : 30-Aug-2021 , 08:20:38 am | Posted By CASANSAAR
On consideration of difficulties reported by the taxpayers and other stakeholders in electronic filing of certain Forms under the provisions of the Income-tax Act,1961 read with Income-tax Rules,1962 (Rules), Central Board of Direct Taxes (CBDT) has decided to further extend the due dates for electr...
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Income Tax |
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CBDT extends date under section 3 of the Vivad se Vishwas Act
Posted Date : 30-Aug-2021 , 08:17:29 am | Posted By CASANSAAR
Under The Direct Tax Vivad se Vishwas Act 2020 (hereinafter referred to as “Vivad se Vishwas Act”), the amount payable by the declarant is stated in the table under section 3 of the Vivad se Vishwas Act.
As per the latest notification dated 25th June 2021, the last date...
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Income Tax |
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GST defaulters of last two months to be barred from filing GSTR-1
Posted Date : 28-Aug-2021 , 07:45:27 am | Posted By CASANSAAR
GSTN stated in the advisory that “a registered person shall not be allowed to furnish the details of outward supplies of goods or services or both under section 37 in Form GSTR-1, if he has not furnished the return in Form GSTR-3B for preceding two months."
Businesses have to file GSTR...
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GST |
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RBI announces issue price for Sovereign Gold Bond Scheme 2021-22 - Series VI
Posted Date : 28-Aug-2021 , 07:39:10 am | Posted By CASANSAAR
Reserve Bank of India has announced issue price for Sovereign Gold Bond Scheme 2021-22 - Series VI.
RBI has fixed price of 4,732 Rupee per gram for bonds which will be available for subscription from Monday and will remain open till 3rd September 2021. A discount of Rupees 50 will be given to inv...
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RBI |
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RBI appoints Shri Ajay Kumar as new Executive Director
Posted Date : 27-Aug-2021 , 09:46:39 am | Posted By CASANSAAR
The Reserve Bank of India has appointed Shri Ajay Kumar as Executive Director (ED) with effect from August 20, 2021.
Prior to being promoted as ED, Shri Ajay Kumar was heading the New Delhi Regional Office of the Bank as Regional Director.
Shri Kumar has, over a span of three decades, served i...
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RBI |
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Papads don’t attract GST, but fryums face 18% rate
Posted Date : 25-Aug-2021 , 08:16:45 am | Posted By CASANSAAR
No Gujarati thali is complete without a papad, be it fried or roasted. Fortunately for consumers, as the GST burden is ultimately borne by them, the Gujarat bench of the Authority for Advance Ruling (AAR) has held that Papads will attract nil GST.
Interestingly, the AAR bench observed that Papa...
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GST |
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FinMin gives time to Infosys till Sept 15 to fix glitches in income tax portal
Posted Date : 24-Aug-2021 , 09:15:30 am | Posted By CASANSAAR
Finance Minister Nirmala Sitharaman has given time to Infosys till September 15 to fix glitches in the new e-filing portal of the Income Tax Department, said a statement issued by the government on August 23.
Sitharaman, who summoned Infosys top brass for a meeting earlier in the day, conveyed th...
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Income Tax |
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RBI Expert Committee suggests setting up of Umbrella Organisation and 4-tier structure to regulate UCBs
Posted Date : 24-Aug-2021 , 08:47:37 am | Posted By CASANSAAR
The expert committee on Urban Co-operative Banks was set up on February 2021 under the chairmanship of former Deputy Governor of Reserve Bank of India (RBI), NS Vishwanathan.
The expert committee on August 23 submitted its report in two parts. The first part of the report lays o...
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RBI |
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FM announces Rs 6 lakh Cr asset monetisation pipeline
Posted Date : 24-Aug-2021 , 08:42:32 am | Posted By CASANSAAR
Finance Minister Nirmala Sitharaman on Monday announced a Rs 6 lakh crore National Monetisation Pipeline (NMP) that will look to unlock value in infrastructure assets across sectors ranging from power to road and railways.
She also said the asset monetisation does not involve selling of land and ...
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Finance |
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No GST on canteen charges recovered from employees - AAR
Posted Date : 23-Aug-2021 , 08:31:49 am | Posted By CASANSAAR
GST will not be levied on the amount paid by employees for availing canteen facilities provided by their employers, the AAR has ruled.
Tata Motors had approached the Gujarat bench of Authority for Advance Ruling (AAR) seeking a ruling on whether Goods and Services Tax (GST) is applic...
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GST |
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FinMin summons Infosys CEO Salil Parekh over new e-filing portal glitches
Posted Date : 23-Aug-2021 , 08:13:38 am | Posted By CASANSAAR
The Ministry of Finance has summoned Infosys on August 23 as the new IT portal continues to see glitches even 2.5 months after the launch. The portal was not accessible from August 21.
In a tweet, the IT department said, “Ministry of Finance has summoned Salil Parekh, MD&CEO @Infosys on...
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Income Tax |
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RBI issues revised norms for hiring of bank lockers
Posted Date : 19-Aug-2021 , 09:01:38 am | Posted By CASANSAAR
The Reserve Bank on Wednesday came out with revised guidelines for the hiring of lockers under which the liability of banks will be limited to 100 times its annual rent in case of fire, theft, building collapse or frauds by bank employees.
As per the revised guidelines, which shall come into effe...
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RBI |
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Accounting standards and special courts to be created for LLPs - MCA
Posted Date : 19-Aug-2021 , 08:53:41 am | Posted By CASANSAAR
The regulatory framework for limited liability partnerships (LLPs) is set to get more refined with a new set of accounting standards, a special regime for startups using the LLP form, and special courts for trial of offences.
The ministry of corporate affairs (MCA) has said amendments to the LLP ...
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Income Tax |
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49,000 Cr Foreign Funds Received By Indian NGOs In 3 Years - Govt
Posted Date : 12-Aug-2021 , 09:25:25 am | Posted By CASANSAAR
Over ₹ 49,000 crore in foreign funds were received by more than 18,000 NGOs in the country in the last three years, Rajya Sabha was informed on Wednesday.
Union Minister of State for Home Nityanand Rai said ₹ 16,940.58 crore were received by the NGOs in 2017-18, ₹ 16,525.73 crore were recei...
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Income Tax |
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MCA amends Schedule III of Companies Act on disclosure norms in financial statements
Posted Date : 11-Aug-2021 , 10:26:10 am | Posted By CASANSAAR
In order to bring in greater transparency in reporting of financial statements, the Ministry of Corporate Affairs (MCA) vide notification dated 24.03.2021 has amended the Schedule III to the Companies Act, 2013 effective from 01st April, 2021 to mandate various disclosures by companies in their fina...
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MCA |
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Rs 99,756 crore disputed tax amount settled under Vivad Se Vishwas scheme
Posted Date : 10-Aug-2021 , 08:24:19 am | Posted By CASANSAAR
The scheme ‘Vivad Se Vishwas’ is a voluntary scheme for resolving pending direct tax disputes amicably with the taxpayers and no targets were fixed by the Government under the Scheme. This was stated by Union Minister of State for Finance Shri Pankaj Chaudhary in a written reply to...
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Income Tax |
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RBI issues draft proposals to liberalise overseas investments norms
Posted Date : 10-Aug-2021 , 08:15:39 am | Posted By CASANSAAR
The Reserve Bank on Monday issued draft guidelines to further liberalise regulatory framework governing overseas investments with a view to promote ease of doing business.
The RBI has placed on its website two documents -- draft Foreign Exchange Management (Non-debt Instruments - Overseas Investm...
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RBI |
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SEBI amends rules to empower independent directors
Posted Date : 09-Aug-2021 , 07:28:45 am | Posted By CASANSAAR
Capital markets regulator Sebi has overhauled the rules pertaining to the appointment, removal and remuneration of independent directors to ensure their independence and effectiveness.
The development assumes significance in the backdrop of the role of independent directors coming under scrutiny ...
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SEBI |
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Know all about e-RUPI, the new digital payment instrument
Posted Date : 07-Aug-2021 , 08:44:49 am | Posted By CASANSAAR
Prime Minister Shri Narendra Modi on August 2nd launched digital payment solution e-RUPI, a cashless and contactless instrument for digital payment. Prime Minister said that the eRUPI voucher is going to play a huge role in making Direct Benefit Transfer (DBT) more effective in digital tr...
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Banking |
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RBI keeps repo rate unchanged at 4%, maintains accommodative stance
Posted Date : 07-Aug-2021 , 08:41:59 am | Posted By CASANSAAR
The Monetary Policy Committee of RBI kept the Repo rate unchanged at 4 per cent. The repo rate is kept unchanged for the 7th consecutive time. Other major rates like Reverse Repo Rate, Bank Rate, MSF, CRR, SLR have also been kept unchanged. In a statement, Governor Shaktikanta Das said, The MPC has ...
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RBI |
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Govt introduces bill in Lok Sabha to scrap retrospective tax law
Posted Date : 06-Aug-2021 , 09:21:36 am | Posted By CASANSAAR
Finance Minister Nirmala Sitharaman yesterday introduced the Taxation Laws (Amendment) Bill, 2021 in the Lok Sabha that seeks to withdraw tax demands made using a 2012 retrospective legislation to tax the indirect transfer of Indian assets.
The bill seeks to amend the Income Tax Act of 1961...
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Income Tax |
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Cabinet approves continuation of Fast Track Special Courts
Posted Date : 05-Aug-2021 , 08:23:36 am | Posted By CASANSAAR
The Cabinet on Wednesday approved continuation of Centrally Sponsored Scheme for Fast Track Special Courts for further two years till 31st March 2023. Briefing media Information and Broadcasting Minister Anurag Singh Thakur said, 1,023 Fast Track Special Courts have been given get two-year extension...
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Finance |
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