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  Individual taxpayers having taxable annual income up to  Rs.5 lakhs will get full tax rebate and therefore will not be required to pay any income tax.  While presenting the Interim Budget 2019-20 in Parliament today the Union Minister for Finance, Corporate Affairs, Railways &...

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Category : Budget | Comments : 0 | Hits : 541

The key highlights of the Interim Budget 2019-20 presented by the Union Minister for Finance, Corporate Affairs, Railways & Coal, Shri Piyush Goyal in Parliament today are as follows:   New Announcements Farmers 12 crore small and marginal farmers to be provided wit...

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Category : Income Tax | Comments : 0 | Hits : 856

  The Government has reduced tax rates, more for the common man and middle class, and made the interface with the tax department much simpler and largely faceless. Due to this, the tax collections increased significantly from Rs 6.38 lakh crore in 2013-14 to almost Rs 12 lakh crore this year...

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Category : Budget | Comments : 0 | Hits : 195

  Rs. 3,05,296 crore have been provided in the Budget Estimates for 2019-20, compared to Rs. 2,82,733 crore provided in 2018-19 Budget Estimates. The figures were revised to Rs. 2,85,423 crore in the Revised Estimates of 2018-19. While presenting the Interim Budget 2019-20 in Parliament toda...

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Category : Budget | Comments : 0 | Hits : 100

India having emerged as the world leader in the consumption of mobile data, the Government now aims to widen its impact by reaching out to the interior and rural areas. While presenting the Interim Budget 2019-20 in Parliament today, the Union Minister for Finance, Corporate Affairs, Railways & ...

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Category : Budget | Comments : 0 | Hits : 87

  In the Interim Budget 2019-20, the Railways has been allocated Rs.64,587 crore.  The Railways’ overall capital expenditure programme is of Rs.1,58,658 crore.  This was stated by the Union Minister for Finance, Corporate Affairs, Railways & Coal, Shri Piyush Goyal, while...

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Category : Budget | Comments : 0 | Hits : 87

The anti-black money measures taken by the Government during the last four and half years in the form of Black Money Law, the Fugitive Criminal Offenders Act, and Demonetisation, have brought undisclosed income of about Rs 1,30,000 crore to tax. These measures have also led to seizure and attachment...

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Category : Budget | Comments : 0 | Hits : 206

FM Piyus Goyal to present Interim Budget 2019 today. CASANSAAR are providing you live updates of Interim Budget 2019. JUST REFRESH THE PAGE (CLICK F5) FOR ALL LIVE UPDATES. Individual taxpayers having annual income upto 5 lakhs will get full tax rebate Capital gains exempti...

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Category : Budget | Comments : 0 | Hits : 2580

The Central Board of Direct Taxes (CBDT) has come up with a new verification scheme for issuance of e-notices to taxpayers. It will also process the taxpayers’ information, related documents and make the data available to the assessing officer, it said in a notification on Thursday. “...

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Category : CBDT | Comments : 0 | Hits : 951

Now, businesses supplying goods worth more than Rs 50,000 will have option to include details of e-way bills generated while filing the final monthly sales return under GSTR-1, a move aimed at curbing tax evasion by reporting different sets of supplies data. Matching of invoices of e-way bills wi...

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Category : GST | Comments : 0 | Hits : 263

The GST collections in January this year has crossed one lakh crore rupees mark.  In a tweet, Finance Ministry said, this has been a significant improvement in comparison to GST collection over 94 thousand crore rupees during last month. It said, in January last year the GST collection wa...

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Category : GST | Comments : 0 | Hits : 186

The Reserve Bank of India (RBI) on Thursday removed three state-owned banks from its weak-bank watch list, a move that will lift lending restrictions on them. "It has been decided that Bank of India (BoI) and Bank of Maharashtra (BoM) which meet the regulatory norms including Capital Conserv...

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Category : Banking | Comments : 0 | Hits : 430

Finance Minister Piyush Goyal will present the Budget in Parliament tomorrow. AIR correspondent reports that the government is likely to announce several welfare measures for various sections of society.  Industries bodies expect that the credit flow to industries will increase and corporate...

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Category : Budget | Comments : 0 | Hits : 80

Sebi has proposed a new set of framework for REITs and InvITs in order to provide flexibility to the issuers in terms of fund raising and increasing the access of these investment vehicles to investors. Under the proposal, minimum allotment and trading lot for publicly issued REITs (Real Estate I...

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Category : SEBI | Comments : 0 | Hits : 124

The budget session of Parliament begins today. The session will commence with President Ram Nath Kovind's address to the joint sitting of both the Houses in Central Hall at 11 AM. The Budget will be presented tomorrow. The session will conclude on the 13th of next month. The government has co...

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Category : Budget | Comments : 0 | Hits : 135

Actor Shah Rukh Khan has been absolved of the charge of being a beneficiary of a benami property in the scenic beach town of Alibaug in Maharashtra as an appellate Authority under the law has "revoked" the attachment order of the I-T Department, calling it baseless and coloured. The Adj...

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Category : Income Tax | Comments : 0 | Hits : 281

Rajasthan High Court on Tuesday issued notices to the Central government, state government and the GST Council seeking reply in four weeks on the denial of the input tax credit benefit. Lakhani Metal and Castings Pvt. Ltd. of Bikaner had moved a petition challenging the clause (ii) of proviso of ...

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Category : GST | Comments : 0 | Hits : 284

The GST officials are working out mechanism to prompt taxmen to initiate profiteering complaints, which could be taken up for further investigation by the Directorate General of Anti-Profiteering (DGAP). Currently, only consumers file complaints against businesses for not passing on the benefits ...

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Category : GST | Comments : 0 | Hits : 157

In a bid to prevent big economic offenders like Vijay Mallya and Nirav Modi from fleeing the country, the government has empowered PSU banks to request lookout circulars (LOCs) against wilful defaulters and fraudsters, officials said on Sunday. The Home Ministry has also authorised the Serious Fr...

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Category : Banking | Comments : 0 | Hits : 326

Troubled infrastructure developer and lender Infrastructure Leasing & Financial Services (IL&FS) is looking to appoint an auditor that will look into audited books of the group and its subsidiaries, said people with direct knowledge of the matter.  Role of EY, Deloitte and KPMG that ...

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Category : Auditing | Comments : 0 | Hits : 365

The Supreme Court on Friday issued contempt notices to the RBI for failing to reveal under the Right to Information Act intelligence received on loan defaulters and details of action taken against banks in connection with fraud.  In December 2015, a bench of the top court — comprising ...

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Category : RBI | Comments : 0 | Hits : 213

Concerned over a decline in GST revenues, tax officials are likely to examine the high usage of input tax credit (ITC) to set off tax liability by businesses, sources said. The issue of high ITC was flagged at the meeting of the Group of Ministers (GoM) which was set up by the GST Council to look...

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Category : GST | Comments : 0 | Hits : 597

Our Best Wishes to You On the Republic Day Let Us Salute the Prosperity of India and Every Freedom Fighter Who Made It Possible Let Us Hail the Glory Of This Wonderful Country India and its Freedom Fighters Who Made it All a Victory for Us. Happy Republic Day.!!!...

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Category : General | Comments : 0 | Hits : 160

Padma Awards - one of the highest civilian Awards of the country, are conferred in three categories, namely, Padma Vibhushan, Padma Bhushan and Padma Shri. The Awards are given in various disciplines/ fields of activities, viz.- art, social work, public affairs, science and engineering, trade and in...

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Category : General | Comments : 0 | Hits : 177

The Supreme Court of India upheld the two-year old insolvency code in its entirety, quashing petitions which challenged the law saying it was discriminatory.  The two-judge bench headed by Justice Rohinton Nariman also upheld the ban on promoters’ bids for the defaulting company underg...

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Category : Insolvent Professional | Comments : 0 | Hits : 446

ANNOUNCEMENT UDIN mandatory wef 1st Feb., 2019 for all Certificates  It has been noticed that financial documents/ certificates attested by third person misrepresenting themselves as CA Members are misleading the Authorities and Stakeholders. ICAI is also receiving number of complaints ...

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Category : ICAI | Comments : 0 | Hits : 1039

An examinee may apply seeking inspection/certified copies of answer books, within 30 days from the date of declaration of respective result(s), with the applicable fee, online at http://icaiexam.icai.org and pay the applicable fee online. There is no provision for submission of such requests with la...

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Category : ICAI | Comments : 0 | Hits : 385

No. IBBI/2019-20/GN/REG040. -In exercise of the powers conferred by clause (t) of subsection (1) of section 196 read with section 240 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Insolvency and Bankruptcy Board of India hereby makes the following regulations further to amend the Ins...

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Category : Insolvent Professional | Comments : 0 | Hits : 233

The Insolvency and Bankruptcy Code, 2016 provides for corporate insolvency resolution process for invitation, receipt, and consideration of resolution plans; and approval of a resolution plan to resolve insolvency of the corporate debtor. It envisages that a resolution plan, once approved, must be i...

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Category : Insolvent Professional | Comments : 0 | Hits : 219

Employees of public financial institutions as well as those without any identifiable ultimate promoters will not be considered as depository participants under Sebi norms, according to a circular.  The markets regulator on Wednesday issued a circular providing clarity on certain provisions o...

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Category : SEBI | Comments : 0 | Hits : 308