Middle Image
   Login  |  Register  |  Forgot Password 
Below Login Ad

News - (Get Professional Updates on Whatsapp, Msg on 8285393786)

Four arrested for GST fraud worth over Rs 2,400 Cr on 10th day of nationwide drive
Posted Date : 26-Nov-2020 , 09:41:13 am | Posted By CASANSAAR

The government on Wednesday arrested three people involved in Goods and Services Tax (GST) evasion worth Rs2,352 crore in the Mumbai region, and one person in Vadodara who created 115 fake firms to fraudulently usurp input tax credit (ITC) of over Rs50 crore through bogus invoices, two officials sai...

Continue Reading...

Category : GST | Comments : 0 | Hits : 1667

SEBI launches SMARTs program to strengthen investor education framework
Posted Date : 26-Nov-2020 , 09:35:53 am | Posted By CASANSAAR

Markets regulator Sebi on Wednesday launched the Securities Market Trainers (SMARTs) program, an initiative aimed at enhancing investor education and awareness. "In the present scenario of uncertainty in economic growth and extra ordinarily buoyant market, there is a dire need to further ram...

Continue Reading...

Category : SEBI | Comments : 0 | Hits : 176

CBDT issues refunds of over Rs 1,36,962 Cr to taxpayers between April-Nov 2020
Posted Date : 26-Nov-2020 , 09:30:08 am | Posted By CASANSAAR

The Central Board of Direct Taxes (CBDT) has issued refunds of over Rs 1,36,962 crores to over 41.25 lakhs taxpayers between April 1, 2020, to November 24, 2020, said Income Tax Department. Income Tax refunds of Rs 36,028 crores were issued in 39,28,067 cases and corporate tax refunds of Rs 1,00,...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 165

SEBI confirms ban on Karvy for misuse of clients' securities in final order
Posted Date : 25-Nov-2020 , 10:05:40 am | Posted By CASANSAAR

Markets watchdog Sebi on Tuesday confirmed the ban on Karvy Stock Broking Ltd (KSBL) from taking new clients and directed stock exchanges as well as depositories to take appropriate action against the entity and its directors. The regulator passed the final order a year after passing an interim o...

Continue Reading...

Category : SEBI | Comments : 0 | Hits : 518

MHA relaxes account norms for NGOs under the Foreign Contribution Regulation Act
Posted Date : 25-Nov-2020 , 09:56:13 am | Posted By CASANSAAR

The union home ministry relaxed the norms for NGOs mandated to maintain FCRA account with the State Bank of India (SBI) under Foreign Contribution Regulation Act (FCRA). In a 5-page-order, MHA stated, “The “FCRA Account” holder shall have complete freedom to transfer the foreign co...

Continue Reading...

Category : NGO | Comments : 0 | Hits : 194

Retail investors can apply for new bond issues from Jan 1 through UPI - SEBI
Posted Date : 24-Nov-2020 , 09:31:21 am | Posted By CASANSAAR

The Securities and Exchange Board of India (Sebi) has provided an option to investors to apply in public issue of debt securities through the online interface of stock exchanges with a facility to block funds through unified payments interface (UPI) mechanism for application value of up to Rs 2 lakh...

Continue Reading...

Category : SEBI | Comments : 0 | Hits : 320

GST registration to get tougher with live photo, biometrics
Posted Date : 24-Nov-2020 , 09:21:30 am | Posted By CASANSAAR

GST registration could become tedious if the GST Council accepts its Law Committee's recent recommendations to plug GST leakages via input tax credit (ITC) using fake invoices. According to sources, the Law Committee of GST Council has suggested tightening of fresh registration of taxpayers u...

Continue Reading...

Category : GST | Comments : 0 | Hits : 1735

Canada visa application centres to reopen on Nov. 25, 2020
Posted Date : 21-Nov-2020 , 09:46:45 am | Posted By CASANSAAR

Canada visa applicants who have submitted online applications for family class priority—spouses, partners and children category—can enroll biometrics at the Canada Visa Applications Centres in six cities from November 25, it was announced by VFS Global on Friday.   The cities are ...

Continue Reading...

Category : International Business | Comments : 0 | Hits : 334

Income Tax dept conducts searches at 16 locations in Ludhiana, Delhi, UP
Posted Date : 21-Nov-2020 , 09:30:02 am | Posted By CASANSAAR

The Income Tax Department started a search and survey action in the case of a leading cattle feed producer in Northern India.   The search and survey actions are being carried out at 16 locations in Kanpur, Gorakhpur, Noida, Delhi and Ludhiana. The I-T department said that the main allegat...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 557

RBI imposes monetary penalty on 6 entities for violation of norms
Posted Date : 21-Nov-2020 , 09:24:46 am | Posted By CASANSAAR

In exercise of powers vested under Section 30 of the Payment and Settlement Systems Act, 2007, the Reserve Bank of India has imposed monetary penalty on the following entities for non-compliance of regulatory guidelines.   Sr. No. Name of the Entity Speaking Order dated ...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 306

41 arrested in fake invoice case; three CAs face disciplinary action
Posted Date : 21-Nov-2020 , 09:14:54 am | Posted By CASANSAAR

Forty one people have been arrested in the last eight days in a fake invoice cartel busted by the Directorate General of GST Intelligence (DGGI) and three of them who are chartered accountants are facing disciplinary action, said a government official. DGGI will inform accounting rule maker and p...

Continue Reading...

Category : GST | Comments : 0 | Hits : 944

Monthly GST filing will not be necessary after e-invoice system is in place - Finance secretary
Posted Date : 20-Nov-2020 , 09:48:49 am | Posted By CASANSAAR

In a major relief to businesses, the government plans to do away with monthly filing of Goods and Services Tax (GST) returns after the electronic invoice (e-invoice) is fully operationalised, which will not only reduce compliance burden but also check tax evasion, finance secretary Ajay Bhushan Pand...

Continue Reading...

Category : GST | Comments : 0 | Hits : 1179

Income Tax refunds worth Rs 1.36 lakh cr issued to 40.19 lakh taxpayers
Posted Date : 19-Nov-2020 , 09:47:44 am | Posted By CASANSAAR

The Income Tax department has issued refunds worth over Rs 1.36 lakh crore to over 40 lakh taxpayers so far this fiscal. This includes Personal income tax (PIT) refunds amounting to Rs 35,750 crore and corporate tax refunds of over Rs 1 lakh crore during this period. “CBDT issues ref...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 391

Income-Tax portal showing GST turnover to better compliance - Govt
Posted Date : 18-Nov-2020 , 10:46:27 am | Posted By CASANSAAR

The revenue department on Monday clarified that the GST turnover details available to taxpayers on income-tax portal (Form 26AS) is aimed at providing additional information to the assessees without any extra compliance burden. Further, the details would force dishonest taxpayers to report correc...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 528

The Lakshmi Vilas Bank Ltd.: RBI announces Draft Scheme of Amalgamation
Posted Date : 18-Nov-2020 , 10:41:14 am | Posted By CASANSAAR

  The Reserve Bank of India has today placed in public domain a draft scheme of amalgamation of The Lakshmi Vilas Bank Ltd. (LVB) with DBS Bank India Ltd. (DBIL), a banking company incorporated in India under Companies Act, 2013, and having its Registered Office at New Delhi. ...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 407

The Lakshmi Vilas Bank Ltd. placed under Moratorium - RBI
Posted Date : 18-Nov-2020 , 10:39:20 am | Posted By CASANSAAR

The financial position of The Lakshmi Vilas Bank Ltd. (the bank) has undergone a steady decline with the bank incurring continuous losses over the last three years, eroding its net-worth. In absence of any viable strategic plan, declining advances and mounting non-performing assets (NPAs), the losse...

Continue Reading...

Category : Banking | Comments : 0 | Hits : 274

Canada to invite more immigrants, offer PR status to 4 lakh every year
Posted Date : 17-Nov-2020 , 10:27:08 am | Posted By CASANSAAR

Canada wants to invite more immigrants into the country, much higher than the current levels. Just like all other nations, Canada has also been hit hard due to the pandemic. To recover from the Covid-19 crisis, the Canadian government plans to invite 4 lakh new permanent residents to the country eac...

Continue Reading...

Category : International Business | Comments : 0 | Hits : 874

Govt may invoke COFEPOSA against offenders in fake invoices for GST credit
Posted Date : 17-Nov-2020 , 09:38:25 am | Posted By CASANSAAR

After a nationwide drive against fake invoices that tend to mar the Goods and Services Tax (GST) system, the government is examining if the offenders can be booked under COFEPOSA (Conservation of Foreign Exchange and Prevention of Smuggling Activities Act), apart from taking action against them unde...

Continue Reading...

Category : GST | Comments : 0 | Hits : 1354

Officials arrest 25, book 350 cases in nationwide crackdown for Fake ITC
Posted Date : 16-Nov-2020 , 10:04:55 am | Posted By CASANSAAR

In a nationwide crackdown, authorities have arrested 25 people and booked cases against 1,180 entities in connection with fraudulent input tax credit (ITC) claims by allegedly using fake invoices, according to officials in the Directorate General of GST Intelligence (DGGI). “The actual amou...

Continue Reading...

Category : GST | Comments : 0 | Hits : 827

RBI imposes Rs 1 crore penalty on Punjab National Bank
Posted Date : 14-Nov-2020 , 10:57:26 am | Posted By CASANSAAR

State-run Punjab National Bank on November 13 said the RBI has imposed a penalty of Rs 1 crore on it for contravention of the Payment and Settlement Systems Act. "RBI has observed that the Bank was operating a bilateral ATM sharing arrangement with Druk PNB Bank Ltd, Bhutan, (international s...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 351

Income Tax relief for Real-estate Developers and Home Buyers
Posted Date : 14-Nov-2020 , 10:51:07 am | Posted By CASANSAAR

As part of the AatmaNirbhar Bharat Package 3.0 as announced by Hon’ble Finance Minister on 12th November, 2020, certain income tax relief measures were brought in for real-estate developers and home buyers. Up to 2018, section 43CA of the Income-tax Act, 1961 (‘the Act’) provide...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 380

Finance Ministry seeks ideas, suggestions and proposals for Annual Budget 2021-22
Posted Date : 14-Nov-2020 , 10:49:29 am | Posted By CASANSAAR

The Ministry of Finance has sought ideas, suggestions and proposals for the Annual Budget 2021-22. Over the years, the Ministry of Finance has been holding pre-budget consultations in North Block with Industry and Commerce Associations, Trade Bodies and Experts to seek ideas for the Annual Budget.&n...

Continue Reading...

Category : Budget | Comments : 0 | Hits : 266

Finance Minister announces measures on AatmaNirbhar Bharat 3.0
Posted Date : 13-Nov-2020 , 08:40:42 am | Posted By CASANSAAR

Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman has announced 12 key measures, as part of Government of India’s stimulus to the economy, under AatmaNirbhar Bharat 3.0. The net stimulus announced today amounts to â‚¹ 2.65 Lakh crore. While addressing the Pre...

Continue Reading...

Category : Finance | Comments : 0 | Hits : 307

RBI imposes Rs 50 lakh penalty on Central Bank of India
Posted Date : 11-Nov-2020 , 09:30:42 am | Posted By CASANSAAR

The Reserve Bank on Tuesday said it has imposed a penalty of Rs 50 lakh on state-run Central Bank of India for non-compliance with its directions on disbursal of some housing loans.   “Reserve Bank of India (RBI) has, by an order dated November 10, 2020, imposed a monetary penalty of Rs...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 511

GST authorities will soon be able to intercept transactions by dubious firms
Posted Date : 09-Nov-2020 , 09:52:00 am | Posted By CASANSAAR

The government’s efforts to check evasion of Goods and Service Tax (GST) and step up the indirect tax system’s efficiency is set to reach the next level soon with officials being able to intercept suspicious transactions on a real time basis and pre-empt fraud. The idea is to enable t...

Continue Reading...

Category : GST | Comments : 0 | Hits : 995

GST portal scaled up to handle 3 lakh taxpayers at a time
Posted Date : 09-Nov-2020 , 09:31:11 am | Posted By CASANSAAR

The Goods and Services Tax Network (GSTN) portal has been enabled to handle double the taxpayer traffic for return filing after the GST infra was upgraded to handle up to three lakh concurrent users at a time. “The GSTN Portal now successfully handles almost double the taxpayer traffic for ...

Continue Reading...

Category : GST | Comments : 0 | Hits : 1059

DRT slaps Rs 5 lakh penalty on Bank of India for compromising loan recovery
Posted Date : 09-Nov-2020 , 09:25:46 am | Posted By CASANSAAR

A Debt Recovery Tribunal here imposed a fine of Rs 5 lakh on Bank of India for allowing withdrawal of a plea filed to recover over Rs 2.25 crore from its borrowers. The tribunal also observed that the lender entered into a compromise to recover Rs 31.2 lakh against the loan amount. The Presiding...

Continue Reading...

Category : Banking | Comments : 0 | Hits : 317

SC cautions advocates-on-record for unauthorised sharing of video conference links of virtual court hearings
Posted Date : 09-Nov-2020 , 09:18:47 am | Posted By CASANSAAR

The Supreme Court has warned advocates-on-record (AORs) and in-person petitioners of adverse consequences for unauthorised sharing of video conference links of virtual court hearings. AOR is an advocate who is entitled to act as well as plead for a party in the apex court. No advocate other than ...

Continue Reading...

Category : General | Comments : 0 | Hits : 345

Large NBFCs can become banks - RBI
Posted Date : 07-Nov-2020 , 10:05:03 am | Posted By CASANSAAR

The Reserve Bank of India (RBI) has said that there is a case for systemically important non-banking finance companies (NBFCs) beyond a certain size to convert into banks and subject them to the same prudent regulatory framework. This arrangement will enable a regulation-light structure to continue ...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 414

Amount of fraud in GST needs cautious approach
Posted Date : 07-Nov-2020 , 10:01:46 am | Posted By CASANSAAR

The CGST department needs to take a cautious approach because of the amount of fraud happening in claiming input tax credit (ITC) by business entities, an official of the GST administration said on Friday. Deputy commissioner, north, CGST Naveen Rana said in a CII organised webinar that there are...

Continue Reading...

Category : GST | Comments : 0 | Hits : 633

News By Categories

More Categories

Search News

 
 
 

Professional News For CA,CS,CMA.Fresh Accounting News Articles On Income Tax,Service Tax,Sales Tax, Vat,Company Law,RBI,CAG,Custom,Excise On CASANSAAR

www.casansaar.com
...keeps you updated

Home

  |  News

  |  Articles

  |  Discussion

  |  CA Firms

 |  Members

 |  CA Community

 |  Jobs

 |  Empanelment

 |  Files

 |  Matrimonial

 |  Students zone

 |  Queries

 |  Classified Ads

 |  Events

 |  About us

 |   Top Members

 |  Coaching Centres

  | Testimonials

 | Judiciary

 | Videos

 | Notifications/Circulars

 | Book

 | eDirectory

 | Interview

 | Website

 | Emails

 | Software

 |  Score Board

 |   Press Release  

 |   Blood Bank  

  |   Opinion Poll  

  |   Feedback
 |   Advertise us

 |   Terms & Conditions

 |   Contact us
 |   Blog

  |   Sitemap

  |   Income Tax

  |   Auditing

  |   Bank

  |   Bank branch audit

  |   Banking

  |   Black Money

  |   CA

  |   CA Announcement

  |   TDS

  |   Students Zone

  |   Custom

  |   VAT

  |   Service Tax

  |   Corporate Law

  |   General

  |   Excise

  |   SEBI

  |   Finance

  |   GST

  |   ICAI

  |   FEMA

  |   ICWAI

  |   ICSI

  |   DGFT

  |   RBI

  |   IFRS

  |   CAG

  |   Budget

  |   Merger & Acquisitions

  |   International Business

  |   Shares & Stock

  |   Excel Tips

  |   International Taxation

  |   ITR

  |   Chartered Accountant

  |   Tax Audit

  |   Companies Act

  |   Money Laundering

  |   MCA

  |   Income Tax Refund

  |   NPA

  |   Income tax software

  |   CST

  |   CA Exams

  |   CA Results

  |   CBDT

  |   Accounting Standards

  |   DIN

  |   Judical Announcement

  |   MDP

  |   PAN

  |   Whats App

  |   Secretarial Standards

  |   NGO

  |   CA Convocation

  |   Finance Bill

  |   ICAI Notification

  |   CARO

  |   COMPANIES SECRETARY

  |   Accounts

Follow Us : Twitter Icon Facebook Icon Orkut Icon Linkedin Icon Linkedin Icon

CASANSAAR Updates

Developed By: CASANSAAR Copyright © casansaar

Top Accounting Firms,CA COMMUNITY,CA SANSAAR,Chartered Accountant,Ca Networking Firms,Partner Portal,Ca Assignments,CA,Online Communities For Chartered Accountant,Circle For Ca,CS,CMA and FINANCE,Articles By CA / CS / CMA,accounting news articles,Ca Firms In Delhi,CA ANNOUNCEMENT

accounting jobs,article trainees,best website creator,empanelment,income tax slab, ITR, TDS Chart,budget of india 2014-15,gst,auditing,Income tax,students zone,cpt,community matrimony for ca,Classified Ads,Community Matrimony For Ca,Students Zone,Coaching Classes,Company Secretary,Cost Accountant,Judiciary.