SC quashes tax Reassessment Notice to NDTV vver money laundering case
Posted Date : 04-Apr-2020 , 11:05:10 am | Posted By CASANSAAR
he Supreme Court on Friday quashed a notice sent by the income tax (I-T) department to media company NDTV, which sought a re-assessment of the company’s income for the 2006-2007 financial year.
The apex court dismissed the notice – which had alleged round-tripping of money by the news...
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Income Tax |
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Import, export of goods without furnishing bonds to Customs authorities allowed - CBIC
Posted Date : 04-Apr-2020 , 10:55:55 am | Posted By CASANSAAR
The Central Board of Indirect Taxes and Customs (CBIC) on Friday allowed businesses to import and export goods without furnishing bonds to the customs authorities till the end of the month, a move aimed at facilitating trade during the lockdown due to the COVID-19 pandemic.
In a circular, the CBI...
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Custom |
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FinMin extends Motor, Health Insurance validity till April 21
Posted Date : 03-Apr-2020 , 08:36:02 am | Posted By CASANSAAR
In a major relief for 23 crore individual vehicle owners and 40 crore citizens, who benefit from a private or state health insurance scheme, the ministry of finance has amended the law and extended validity of insurance papers till April 21, 2020.
In a gazette notification, the ministry of financ...
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Finance |
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RBI denies banks' request for stay on asset classification norms amid COVID-19 Crisis
Posted Date : 03-Apr-2020 , 08:27:50 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has denied a request from banks to put a stay on the asset classification norms, according to a report by The Economic Times.
The central bank's instruction could hurt companies hoping to avoid being labelled as defaulters amid the coronavirus outbreak.
Comp...
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RBI |
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0 | Hits : 1956
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Birds Eye View of IND-AS | Indian Accounting Standards | IND-AS
Posted Date : 02-Apr-2020 , 05:13:03 pm | Posted By CASANSAAR
Let's use this quarantine to learn.
If you know nothing about IndAs / IFRS and willing to take the first giant step.
Let's help you in it. Watch this Video.
https://youtu.be/5pR806CtkSc
Dont forget to Like the Video and Subscribe CA Sa...
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Accounts |
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0 | Hits : 1324
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GST collections for March stand at Rs 97597 Cr
Posted Date : 02-Apr-2020 , 12:05:21 pm | Posted By CASANSAAR
Goods and services tax collections for March, 2020 stood at Rs. 97,597 crore, lower than Rs. 1.05 lakh crore collected in February, 2020. Until February, GST collections crossed Rs. 1 lakh crore for four consecutive months.
Of the total Rs. 97,597 crore, central GST stood at Rs.19,183 crore, stat...
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GST |
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RBI announces further measures for dealing with the COVID-19 pandemic
Posted Date : 02-Apr-2020 , 11:49:54 am | Posted By CASANSAAR
1. Extension of realisation period of export proceeds
Presently value of the goods or software exports made by the exporters is required to be realized fully and repatriated to the country within a period of 9 months from the date of exports. In view of the disruption caused by the COVID-19 pan...
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RBI |
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0 | Hits : 1935
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MCA gives an opportunity to regularise deactivated DINs without fee
Posted Date : 02-Apr-2020 , 11:21:00 am | Posted By CASANSAAR
Provides six-month window for firms to become ‘ACTIVE Compliant’
Close on the heels of introducing a ‘fresh start scheme’, the Ministry of Corporate Affairs (MCA) has given a one-time opportunity for ‘ACTIVE non-compliant’ companies to become compliant without ...
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MCA |
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0 | Hits : 2187
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Whether Chartered Accountant can Certify ITR as Certified True Copy?
Posted Date : 01-Apr-2020 , 12:41:43 pm | Posted By CASANSAAR
Whether Chartered Accountant can Certify Income Tax Return (ITR) as Certified True Copy?
FaQ of ICAI discussed by CA.Vivek Khurana.
Watch This Video,,,,
https://youtu.be/TbJ835kf0FI
...
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Chartered Accountant |
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0 | Hits : 5601
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Donation to PM CARES Fund to be fully exempted under section 80G of I-T Act
Posted Date : 01-Apr-2020 , 11:56:21 am | Posted By CASANSAAR
As the date for claiming deduction under section 80G of the IT Act has been extended up to June 30, the donation made up to that date will also be eligible for deduction from income of FY 2019-20.
Anyone contributing to PM CARES Fund (Prime Minister’s Citizen Assistance and Relief Emergency...
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Income Tax |
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0 | Hits : 3288
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Govt issues Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020
Posted Date : 01-Apr-2020 , 11:08:05 am | Posted By CASANSAAR
In order to give effect to the announcements made by the Union Finance Minister vide Press Release dated 24.03.2020, regarding several relief measures relating to statutory and regulatory compliance matters across sectors in view of COVID-19 outbreak, the govt has brought in an Ordinance o...
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Income Tax |
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0 | Hits : 1351
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MCA introduces Companies Fresh Start Scheme 2020 and Revises LLP Settlement Scheme 2020
Posted Date : 31-Mar-2020 , 10:15:58 am | Posted By CASANSAAR
In pursuance of the Government of India’s efforts to provide relief to law abiding companies and Limited Liability Partnerships (LLPs) in the wake of COVID 19, the Ministry of Corporate Affairs, has introduced the “Companies Fresh Start Scheme, 2020” and revised the “LLP Sett...
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MCA |
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0 | Hits : 1421
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Income Tax dept asks officers working from home to chase large taxpayers for dues
Posted Date : 31-Mar-2020 , 10:03:38 am | Posted By CASANSAAR
A three-month extension in deadlines for tax payment and filing of returns notwithstanding, the Income-Tax Department has asked field formations to contact large taxpayers over phone or email to follow up on pending collections. Rakesh Gupta, Commissioner of Income Tax (Coordination & Systems), ...
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Income Tax |
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0 | Hits : 1985
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Punjab National Bank unveils new logo ahead of merger
Posted Date : 31-Mar-2020 , 09:39:31 am | Posted By CASANSAAR
Ahead of its merger with the United Bank of India (UBI) and the Oriental Bank of Commerce (OBC) from April 1, Punjab National Bank (PNB) today unveiled a new logo which bears the signages of all the three PSU banks. From the next financial year, PNB will become the second largest lender in India aft...
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Banking |
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IBBI amends CIRP Regulations to provide relief in CIRP
Posted Date : 31-Mar-2020 , 09:29:12 am | Posted By CASANSAAR
To address this difficulty faced by the lockdown due to COVID-19, the Insolvency and Bankruptcy Board of India (IBBI) amended the CIRP Regulations to provide that the period of lockdown imposed by the Central Government in the wake of COVID-19 outbreak shall not be counted for the purposes...
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Corporate Law |
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0 | Hits : 717
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No Extension of the Financial Year
Posted Date : 31-Mar-2020 , 09:27:50 am | Posted By CASANSAAR
There is a fake new circulating in some section of media that the Financial Year has been extended. A notification issued by the Government of India on 30th March 2020 with respect to some other amendments done in the Indian Stamp Act is being misquoted. There is no extension of the Financial Year.
...
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General |
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Contributions to PM CARES fund will help Companies to meet CSR obligations
Posted Date : 30-Mar-2020 , 09:20:52 am | Posted By CASANSAAR
Corporates have spent Rs 52,000 crore towards social welfare activities in the last five financial years and now making contributions to the Prime Minister's relief fund will further help them meet their obligations under the companies law, according to a senior government official.
As the co...
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Corporate Law |
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0 | Hits : 1289
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Lockdown period won’t be counted in IBC timeline - IBBI
Posted Date : 30-Mar-2020 , 09:07:37 am | Posted By CASANSAAR
Lockdown period will not be counted towards the timeline for any activity under the corporate insolvency resolution process.
“...the period of lockdown imposed by the Central Government in the wake of COVID19 outbreak shall not be counted for the purposes of the time-line for any acti...
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Category :
Insolvent Professional |
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0 | Hits : 860
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PM Modi Appeal to Contribute in PM CARES fund
Posted Date : 29-Mar-2020 , 10:05:48 am | Posted By CASANSAAR
Prime Minister Narendra Modi has announced the constitution of the PM's Citizen Assistance and Relief in Emergency Situations (PM-CARES) fund. This will be a dedicated national fund with the primary objective of dealing with any kind of emergency or distress situation, like posed by the COVID-19...
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General |
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0 | Hits : 1752
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RBI approves amalgamation of 10 public sector banks from April 1
Posted Date : 29-Mar-2020 , 10:05:36 am | Posted By CASANSAAR
Reserve Bank of India on Saturday said it has approved the amalgamation of Oriental Bank of Commerce and United Bank of India into Punjab National Bank, Syndicate Bank into Canara Bank, Andhra Bank and Corporation Bank into Union Bank of India and Allahabad Bank into Indian Bank.
The scheme will ...
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RBI |
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Recent Amendments Under GST Law including Updates on Press Conference of FM
Posted Date : 29-Mar-2020 , 09:46:51 am | Posted By CASANSAAR
Recent Amendments Under GST Law including Updates on Press Conference of Finance Minister discussed by CA.Bhavesh Mittal.
Watch This Video,,,
https://youtu.be/8VJca40JN98
...
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GST |
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Defaulters must settle dues within 15 days of agreeing on amount under VSVS - CBDT
Posted Date : 29-Mar-2020 , 09:32:47 am | Posted By CASANSAAR
India’s direct taxes body has clarified that defaulters need to settle their tax dues within 15 days from the time the disputed amount is mutually agreed upon, under its dispute settlement mechanism that has now been extended till June 30.
Not only that, after they are issued what is known ...
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CBDT |
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Relief Measures Under IBC due to COVID-19 Outbreak
Posted Date : 28-Mar-2020 , 08:59:24 am | Posted By CASANSAAR
Relief Measures Under IBC announced by Hon.Finance Minister due to COVID-19 Outbreak discussed by CA.Vivek Khurana (Insolvency Professional).
Watch this Video,,,
https://youtu.be/sAhv8jNO2_E
...
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Category :
Insolvent Professional |
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0 | Hits : 668
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Finance Act 2020 | Finance Bill 2020 gets Presidential assent
Posted Date : 28-Mar-2020 , 08:39:51 am | Posted By CASANSAAR
Finance Act, 2020
The Finance Bill, 2020, after being passed by Lok Sabha & Rajya Sabha respectively; has received the assent of the President of India on 27th March, 2020.
With this, Finance Bill, 2020 has now become Finance Act, 2020.
CLICK HERE TO DOWNLOA FINANCE ACT, 2020
...
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Finance |
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Govt to pay employer, employee’s PF contribution for 3 months
Posted Date : 28-Mar-2020 , 08:27:13 am | Posted By CASANSAAR
The government will pay the employee provident fund (EPF) contribution both of the employer and the employee (12 per cent each) for the next three months, Finance Minister Nirmala Sitharaman said on Wednesday.
The move will benefit over 4.8 crore employees in the organised sector.
The governme...
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General |
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RBI permits 3 month moratorium on EMI payments on all outstanding loans
Posted Date : 27-Mar-2020 , 08:49:22 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) Governor Shaktikanta Das today announced cut in benchmark interest rate, Repo Rate by 75 basis points to 4.4 per cent to deal with the hardship caused due to the outbreak of COVID-19.
The central bank also reduced the Cash Reserve Ratio (CRR) of all banks by 100 ba...
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RBI |
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Postponement of Chartered Accountant Examination, May 2020 - ICAI
Posted Date : 27-Mar-2020 , 12:46:55 pm | Posted By CASANSAAR
In continuation to the Important Announcement dated 1st January 2020, it is hereby notified for general information that in view of the ongoing spurt of the COVID-19 pandemic and in the interest of the wellbeing of students, the Chartered Accountant Examinations initially scheduled from 2nd May 2020...
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Students Zone |
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RBI cut Repo rate by 75 bps to 4.4%, CRR by 100 bps to 3%
Posted Date : 27-Mar-2020 , 11:07:05 am | Posted By CASANSAAR
Reserve Bank of India (RBI) governor Shaktikanta Das March 27 announced a massive 75 basis points cut in repo rates as a measure to counter the economic slowdown caused by the COVID-19 pandemic.
Repo rate cut by 75 bps to 4.4%, CRR by 100 bps to 3%, banks allowed 3-month moratorium on all loans:
...
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RBI |
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0 | Hits : 924
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Impact of Corona Virus on Financial Reporting and the Auditors Consideration
Posted Date : 27-Mar-2020 , 10:45:01 am | Posted By CASANSAAR
ASB & AASB of ICAI have released *Impact of Corona Virus on Financial Reporting and the Auditors Consideration*
The advisory has been prepared for:
1. Entities to whom Ind AS is applicable and
2. Entities to whom AS is applicable, viz,
a. Companies to whom Companies, Ac...
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Category :
Income Tax |
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0 | Hits : 1762
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SEBI allows top 100 companies to delay AGMs
Posted Date : 27-Mar-2020 , 10:33:02 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) on Thursday further relaxed compliance norms for companies and said top 100 companies by market capitalisation can hold their annual general meetings (AGMs) a month later than the usual stipulated August 31.
The relaxation comes in the wake of the...
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SEBI |
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