SEBI comes out with new stress testing perimeters for commodity derivatives
Posted Date : 22-Dec-2020 , 09:56:25 am | Posted By CASANSAAR
Markets regulator Sebi on December 21 issued new stress testing perimeters for commodity derivatives in order to tackle extreme volatile price events. The move comes after the regulator received representation to review the requirement of including all the price movements during the last 15 years, i...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 1062
|
 |
Tweet / Retweet Karo Jhat Se, Date Extend Hogi Pat Se
Posted Date : 21-Dec-2020 , 10:42:25 am | Posted By CASANSAAR
Tweet / Retweet Karo Jhat Se, Date Extend Hogi Pat Se.
Resp. @nsitharaman Ji,
Every one waiting for your Tweet / Notification for Dates Extension.
@IncomeTaxIndia @FinMinIndia @ianuragthakur @casansaar @cbic_india
#ITRFileKaroJhatpat #DatesExtendKaroJha...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1318
|
|
MCA provides additional relaxations to independent directors for Online Proficiency Test
Posted Date : 21-Dec-2020 , 10:08:52 am | Posted By CASANSAAR
In further relief to independent directors, the ministry of corporate affairs (MCA) relaxed both the requirements and timelines for the online self-assessment proficiency test such directors must take under the amended Companies (Appointment and Qualification of Directors) Rules, 2014.
Move to en...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 1216
|
|
Govt likely to extend IBC suspension to prevent cos from being forced into insolvency proceedings
Posted Date : 21-Dec-2020 , 08:49:39 am | Posted By CASANSAAR
Much to the relief of small businesses, the government is likely to extend IBC suspension further to prevent companies from being forced into insolvency proceedings due to debt defaults triggered by the COVID-19 crisis. The government may extend IBC suspension by another three months, reported Econo...
Continue Reading...
Category :
Insolvent Professional |
Comments :
0 | Hits : 1122
|
|
SEBI gives certain relaxations to NRIs on holding depository receipts
Posted Date : 19-Dec-2020 , 08:41:22 am | Posted By CASANSAAR
Markets regulator Sebi on Friday gave certain relaxations to non-resident Indians in respect of holding of depository receipts (DRs) issued by India-listed companies.
NRIs can now hold DRs issued by the company under the employee stock option schemes, bonus issue and rights issue, the regulator s...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 975
|
|
NFRA can carry on probe of IFIN Audits - Delhi HC
Posted Date : 19-Dec-2020 , 08:37:54 am | Posted By CASANSAAR
The Delhi High Court has allowed audit regulator National Financial Reporting Authority (NFRA) to carry on investigation and issue notices to executives working with BSR & Associates, which was the auditor of ILFS Financial Services (IFIN).
While hearing the case on Wednesday, the court, howe...
Continue Reading...
Category :
NFRA |
Comments :
0 | Hits : 1016
|
|
Email ID to register grievance under Faceless Assessment Scheme
Posted Date : 18-Dec-2020 , 09:25:45 am | Posted By CASANSAAR
Exclusive email ID- "feedback.notice.neac@incometax.gov.in" enabled to register grievance regarding S. 142(1) notices (including roving questionnaires) issued under the Faceless Assessment Scheme 2019.
The grievances received in the said email shall be closely monitored by a team of off...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1224
|
|
SEBI tweaks public shareholding norms for companies under insolvency process
Posted Date : 17-Dec-2020 , 10:28:52 am | Posted By CASANSAAR
Markets regulator Sebi decided to tweak norms pertaining to 25 per cent minimum public shareholding for companies which undergo corporate insolvency resolution and seek relisting following the process.
Besides, it decided to enhance disclosure for such companies, Sebi said in a statement af...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 945
|
|
Tax Professionals Seek extension of due dates for Income Tax, GST Compliance
Posted Date : 17-Dec-2020 , 09:12:20 am | Posted By CASANSAAR
Tax professionals have urged the government to extend various deadlines under the Income Tax Act for assessment year 2020-21 and for filing annual reconciliation statement under the Goods and Services Tax Act for the years ending March 2019 and March 2020.
CA Sansaar
&nbs...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1240
|
|
CBDT Allow One time relaxation to update the UDIN before 31st Dec.2020 of audit report/certificates
Posted Date : 16-Dec-2020 , 09:37:51 am | Posted By CASANSAAR
CBDT Allow One time relaxation to update the UDIN before 31st Dec.2020 of audit report/certificates to avoid invalidation
A One time relaxation to update UDIN has been enabled. Kindly update the UDIN before 31st December, 2020 of audit report/certificates to avoid invalidation.
(Source - IncomeT...
Continue Reading...
Category :
CBDT |
Comments :
0 | Hits : 1122
|
|
RBI imposes Rs 50 lakh penalty on an urban co-operative bank in Kerala
Posted Date : 16-Dec-2020 , 09:30:45 am | Posted By CASANSAAR
The Reserve Bank of India on Tuesday said it has imposed a penalty of Rs 50 lakh on The Urban Co-operative Bank Ltd No. 1758, Perinthalmanna in Kerala for non-compliance with directions on income recognition and asset classification norms, and on management of advances. One of the directions related...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 736
|
|
How many Tax Audit have you completed so far?
Posted Date : 15-Dec-2020 , 09:57:33 am | Posted By CASANSAAR
How many Tax Audit have you completed so far?
(Plz participate in the opinion poll on Twitter, Retweet it and Follow @casansaar)
Hon. FM @nsitharaman Ji,
Due to Covid-19, Businessman & Professionals are not able to work smoothly.
@FinMinIndia @IncomeTaxIndia @ianuragthakur ...
Continue Reading...
Category :
Tax Audit |
Comments :
0 | Hits : 1649
|
|
RBI exempts certain accounts from its current account norm
Posted Date : 15-Dec-2020 , 09:27:29 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Monday allowed some accounts to be excluded from the ambit of its circular in August in which the regulator had specified certain rules for opening current accounts with banks.
On 6 August, the central bank said that borrowers with more than ₹50 crore exposure...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1334
|
|
GST officers arrest 140 persons including 5 chartered accountants on charges of fake invoicing
Posted Date : 15-Dec-2020 , 09:02:44 am | Posted By CASANSAAR
GST authorities have arrested as many as 140 persons, including five chartered accountants, in about a month's time on charges of issuing fake invoices, and have now trained their guns on entities transporting under-valued goods.
In its nationwide drive against fake invoice frauds since the s...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 5574
|
|
GST taxpayers to get flexibility to decide on monthly tax payment
Posted Date : 14-Dec-2020 , 10:06:03 am | Posted By CASANSAAR
Come January 1 and GST taxpayers would be able to pay their tax dues on a self assessment basis without having to go through the cumbersome process of filing tax returns on a monthly basis.
The Central Board of Indirect Taxes and Customs (CBIC) will introduce the new Quarterly Return and Monthly ...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 5369
|
|
Round the clock RTGS Money transfer facility becomes operational
Posted Date : 14-Dec-2020 , 10:04:20 am | Posted By CASANSAAR
Reserve Bank of India has made Real-Time Gross Settlement (RTGS) money transfer facility operational round-the-clock. The announcement to this effect was made by RBI Governor Shaktikanta Das. In a tweet, he said it has been decided to make RTGS available round the clock on all days of the year from ...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 947
|
|
GST Network enables fully auto-populated monthly sales return form GSTR-3B
Posted Date : 14-Dec-2020 , 09:52:52 am | Posted By CASANSAAR
Businesses will now get complete auto-populated monthly sales return form GSTR-3B, GST Network said on Sunday.
"For ease of taxpayers, now the system will auto populate GSTR-3B (monthly) on the basis of details filed in GSTR-1 and auto-drafted ITC statement GSTR-2B from November 2020 tax per...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 3368
|
|
HC quashes Income Tax proceedings against Karti Chidambaram & his wife
Posted Date : 14-Dec-2020 , 09:40:34 am | Posted By CASANSAAR
The Madras High Court has quashed the Income Tax proceedings initiated against Karti Chidambaram, son of former Union Finance Minister P Chidambaram,and his wife over alleged non-disclosure of cash transactions of about Rs seven crore following sale of a property near here.
The Court, while rulin...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 753
|
|
Over 1,63,000 GST registrations cancelled in two months for return filing defaults
Posted Date : 12-Dec-2020 , 10:29:11 am | Posted By CASANSAAR
Goods and Services Tax (GST) authorities have cancelled 1,63,042 GST registrations in October and November for defaulting on filing monthly tax returns for more than six months, said a government official.
Besides, 28,635 other taxpayers have been identified for cancellation of registration for d...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 2996
|
|
Canada sent another 5,000 invitations for PR
Posted Date : 11-Dec-2020 , 09:50:41 am | Posted By CASANSAAR
Canada has invited 5,000 immigration candidates to apply for permanent residence in a new Express Entry draw held on December 9.
Invited candidates needed a Comprehensive Ranking System (CRS) score of at least 469 in order to be invited.
This draw brings the number of Invitations to Apply (ITA...
Continue Reading...
Category :
International Business |
Comments :
0 | Hits : 1503
|
|
NFRA says appointment of Deloitte as statutory auditor in 2017-18 ILLEGAL
Posted Date : 11-Dec-2020 , 09:41:07 am | Posted By CASANSAAR
The National Financial Reporting Authority (NFRA) has said that appointment of Deloitte Haskins and Sells LLP as the statutory auditor of IL&FS Financial Services Ltd (IFIN) for 2017-18 was "illegal".
The latest conclusions are part of the Supplementary Audit Quality Review Report (...
Continue Reading...
Category :
NFRA |
Comments :
0 | Hits : 2586
|
|
Delhi HC says entire concept of GST getting defeated by Input Tax Credit
Posted Date : 11-Dec-2020 , 09:26:14 am | Posted By CASANSAAR
The Delhi High Court today observed that the entire concept of the Goods and Services Tax (GST) is getting defeated by the input tax credit while hearing a petition by a businessman seeking protection from arrest in a case of alleged wrongly/illegally availed of Input Tax Credit.
The ...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 2115
|
|
RBI issues draft circular on declaration of dividend by NBFCs
Posted Date : 11-Dec-2020 , 09:20:33 am | Posted By CASANSAAR
Reserve Bank of India has issued draft circular on declaration of dividend by non-banking financial companies (NBFCs) in pursuance to the announcement made in the monetary policy declared last Friday.
Accordingly, deposit-taking NBFCs and systemically important non-deposit-taking NBFCs must have ...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 711
|
|
GSTR-9 of FY 2019-20 is available on GST Portal
Posted Date : 11-Dec-2020 , 09:17:10 am | Posted By CASANSAAR
Facility to file annual return in Form GSTR-9 for FY 2019-20 is now available. The Form is enabled for taxpayers whose table 8A computation has been completed.
Computation of the table 8A of the said return for auto population from returns is under progress which is likely to be completed soon.
...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 2846
|
|
SC transferred to itself Pleas Challenging Constitutional Validity of ICAI Guidelines regarding Tax Audit Limit For Chartered Accountants
Posted Date : 10-Dec-2020 , 10:02:33 am | Posted By CASANSAAR
The Supreme Court has transferred to itself the writ petitions pending before Kerala, Madras and Calcutta High Courts which challenge the constitutional validity of guidelines issued by Institute of Chartered Accountants of India (ICAI) limiting the number of Tax Audits of Chartered Accountants.
...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 2357
|
|
RBI announces date for launching of RTGS 24x7
Posted Date : 10-Dec-2020 , 09:35:48 am | Posted By CASANSAAR
Reserve Bank had announced in the Statement on Developmental and Regulatory Policies dated October 09, 2020, that the Real Time Gross Settlement System (RTGS) will be available round the clock on all days of the year. Accordingly, RTGS 24x7x365 will be launched with effect from 00:30 hours on D...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 760
|
|
Govt’s criticism can’t be ground for penal action - Supreme Court
Posted Date : 09-Dec-2020 , 10:58:54 am | Posted By CASANSAAR
Criticism of the government, even in the strongest terms, must be protected from criminal prosecution under charges of hate speech or public mischief, ruled the Supreme Court on Monday, outlining the contours of hate speech and constitutionally--protected freedom of expression.
In a 128-page judg...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1071
|
|
RBI cancels licence of Karad Janata Sahakari Bank
Posted Date : 09-Dec-2020 , 10:56:38 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has cancelled the licence of Karad Janata Sahakari Bank, Karad, in Maharashtra, with effect from the close of business from December 7.
With the cancellation of licence and commencement of liquidation proceedings, the process of paying the depositors of the bank as...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 840
|
|
MSME taxpayers may file GST return via SMS
Posted Date : 08-Dec-2020 , 10:19:35 am | Posted By CASANSAAR
The MSME taxpayers will no longer require to log on to the GST portal to file their return. Instead they can file their return through an SMS helping to reduce their cost of compliance.
Ajit Kumar, chairman, Central Board of Indirect Taxes & Custom at a session of the Bharat Chamber of Commer...
Continue Reading...
Category :
MSME |
Comments :
0 | Hits : 999
|
|
QRMP scheme launched for GST payers with turnover up to Rs 5 Cr
Posted Date : 07-Dec-2020 , 02:16:02 pm | Posted By CASANSAAR
The government has launched the Quarterly Return filing & Monthly Payment of Taxes (QRMP) scheme for small taxpayers under GST system.
Taxpayers with aggregate annual turnover of up to Rs 5 crore in the preceding financial year and have filed their October GSTR-3B (sales) return by November 3...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1099
|
|
|
