Relaxations by Finance Minister under Various Laws
Posted Date : 24-Mar-2020 , 04:16:37 pm | Posted By CASANSAAR
Income Tax :- F.Y. 18-19
1. Last date for filing income tax returns for the A.Y. 19-20 will be now 30/06/2020.
2. Interest for delayed payment reduced to 9% only for F.Y.18-19
3. Vivad se Vishwas Scheme has also extended to 30/06/2020 and no 10% additional Charge for now.
4. No extension...
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Income Tax |
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Covid-19 related spends to be treated as CSR activity - MCA
Posted Date : 24-Mar-2020 , 11:14:51 am | Posted By CASANSAAR
With the number of Covid-19 cases increasing in the country, the Centre has now roped in the private sector to help in the efforts to minimise the spread of Coronavirus.
The Corporate Affairs Ministry (MCA) on Monday said that spending of CSR funds for Covid-19 would be treated as eligible CSR ac...
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Income Tax |
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Companies under IBC will need New GST Registration
Posted Date : 24-Mar-2020 , 11:09:09 am | Posted By CASANSAAR
Companies under Insolvency and Bankruptcy process must avail a fresh GST registration within 30 days of a resolution professional being appointed for them.
If the resolution professionals have already been appointed, GST registration will have to be availed within a month, the government ha...
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GST |
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Finance Minister sets Rs 15 Lakh income cap to tax NRIs
Posted Date : 24-Mar-2020 , 10:49:05 am | Posted By CASANSAAR
Finance minister Nirmala Sitharaman softened the contentious budget proposal to tax non-resident Indians, putting in place a threshold of Rs 15 lakh for the levy of tax on incomes emanating from India, while leaving out global incomes from the tax ambit.
Through amendments to the finance bill, sh...
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Income Tax |
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SC invokes its plenary power to extend limitation period of appeals
Posted Date : 24-Mar-2020 , 10:41:00 am | Posted By CASANSAAR
The Supreme Court Monday invoked its plenary powers under Article 142 of the Constitution to extend limitation period of appeals from high courts or tribunals on account of coronavirus (COVID-19) pandemic.
A bench of Chief Justice S A Bobde and Justices L N Rao and Surya Kant said the Court has t...
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Income Tax |
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30 States & UTs in complete lockdown in view of Covid-19 outbreak.
Posted Date : 24-Mar-2020 , 10:27:49 am | Posted By CASANSAAR
As many as 30 States and Union Territories have announced complete lockdown in view of Covid-19 outbreak. The lockdown covers 548 districts across the country.
Partial lockdowns have been imposed in Uttar Pradesh, Madhya Pradesh and Odisha. 17 districts in Uttar Pradesh, 37 districts in Madhya Pr...
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General |
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Announcement for Students - ICAI
Posted Date : 24-Mar-2020 , 10:21:29 am | Posted By CASANSAAR
Dear Students,
We are currently witnessing the impact of COVID 19 Pandemic in India; the exact nature and outreach of which is yet un-folding and this has resulted in public distancing and situation of mass lockdown in some of the States. We at ICAI do understand that the overall environment with...
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Students Zone |
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Income tax Dept may extend March 31 deadline due to coronavirus
Posted Date : 23-Mar-2020 , 08:11:45 pm | Posted By CASANSAAR
The Income Tax Department is "proactively pursuing" with the government extension of the statutory March 31 deadline to complete important tax-related works due to the COVID-19 outbreak, an all-India body of IRS officers said on Monday. It has also urged all I-T department officials to wor...
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Income Tax |
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Rajya Sabha also passes the Finance Bill 2020
Posted Date : 23-Mar-2020 , 07:07:17 pm | Posted By CASANSAAR
Rajya Sabha also passed the Finance Bill 2020.
Rajya Sabha adjourned sine die over #covid19 pandemic
...
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Finance |
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Lok Sabha passes Finance Bill 2020 without discussion
Posted Date : 23-Mar-2020 , 04:50:51 pm | Posted By CASANSAAR
Lok Sabha passed the Finance Bill 2020 without discussion on Monday.
The Union government said it was an "extraordinary situation", a reference to the coronavirus pandemic, as Finance Minister Nirmala Sitharaman tabled the bill for passage.
The House negated amendments moved by Oppos...
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Finance |
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Key Audit Matters - KAM for Bank Branch Audit
Posted Date : 23-Mar-2020 , 09:10:54 am | Posted By CASANSAAR
Key Audit Matters - KAM for Bank Branch Statutotry Audit as explained by CA.Amarjit Chopra Ji (Past President, ICAI)
Watch this Video, Click on the link,,,
https://youtu.be/4A33HkVS-Yw
...
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Bank Branch Audit |
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Officially or unofficially, India in lockdown, restrictions put in place in 82 districts
Posted Date : 23-Mar-2020 , 09:06:11 am | Posted By CASANSAAR
Even as the day-long nationwide “janata curfew” called for by Prime Minister Narendra Modi drew to a close on Sunday evening, much of India came under a lockdown with most state governments extending total public transport shutdown and other restrictions for varying periods to fight the ...
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General |
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BSE, NSE to operate as usual on March 23
Posted Date : 23-Mar-2020 , 08:51:17 am | Posted By CASANSAAR
"All segments at BSE will operate as usual on Monday, 23 March 2020," a BSE spokesperson said.
Similarly, all segments of NSE will also operate on Monday.
The news puts to rest uncertainty over the continuity of the stock market in light of the lockdown the central government has imp...
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Shares & Stock |
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Bank branches to provide only essential services from March 23 - IBA
Posted Date : 23-Mar-2020 , 08:37:25 am | Posted By CASANSAAR
With the impact of the coronavirus pandemic being felt across the country, the Indian Banks’ Association (IBA) on Sunday said bank branches will provide only essential services such as cash deposits and withdrawals, clearing of cheques, remittances and government transactions from March 23, 20...
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Banking |
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Canada invites 668 Express Entry candidates to apply for PR
Posted Date : 21-Mar-2020 , 10:26:23 am | Posted By CASANSAAR
The Government of Canada has released the details of this week’s Express Entry draw, inviting 668 candidates to apply for permanent residence.
Invitations were received on March 18, however official details of the draw were released today, March 20. This draw brings the total number of invi...
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International Business |
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Companies, LLPs to be told to submit Covid-19 readiness form
Posted Date : 21-Mar-2020 , 10:03:34 am | Posted By CASANSAAR
The Ministry of Corporate Affairs (MCA) plans to soon come up with a simple web-based form for companies and limited liability partnerships (LLPs) to confirm their readiness to deal with the Covid-19 threat.
The web form — to be named CAR (Company Affirmation of Readiness towards Covid-19) ...
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Corporate Law |
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RBI to inject Rs 30,000 Cr liquidity into market next week
Posted Date : 20-Mar-2020 , 09:07:58 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) will inject liquidity of Rs 30,000 crore through open market operations next week to maintain financial stability in the system in the wake of the coronavirus outbreak.
The RBI has decided to conduct purchase of government securities under open market operations (O...
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RBI |
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Govt advises Companies to implement Work from Home policy
Posted Date : 20-Mar-2020 , 08:59:26 pm | Posted By CASANSAAR
The government has advised companies to implement 'Work from Home' policy for their staff to encourage "social distancing" to curb spreading of coronavirus infections.
As part of relaxations in compliance requirements, the corporate affairs ministry has allowed companies t...
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General |
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NCLT not to accept any fresh filings till March 27
Posted Date : 20-Mar-2020 , 08:07:48 am | Posted By CASANSAAR
All benches of the National Company Law Tribunal (NCLT) will not accept fresh filings till March 27, said a notification on Thursday.
"It is observed that all NCLT benches have become crowded filing counters, which may lead to community transmission of COVID-19 therefore, it is decided to cl...
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Corporate Law |
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PM calls for Janta Curfew, urges people to stay indoors
Posted Date : 20-Mar-2020 , 07:50:19 am | Posted By CASANSAAR
Prime Minister Narendra Modi on Thursday made a fervent appeal to all Indians to stay indoors as much as possible to avoid getting infected by coronavirus, saying the world has never seen a danger as grave as this.
He called for 'Janta curfew' on March 22 from 7 am-9 pm, saying no citizen...
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General |
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Bank Branch Audit 2020 Updates
Posted Date : 19-Mar-2020 , 09:38:13 pm | Posted By CASANSAAR
As per reliable source - RBI has send the panel for Statutory Bank Auditors to Banks.
Following Banks has started sending mails (it can be region wise) as informed by members :-
(www.casansaar.com)
Bank of India.
Bank of Maharashtra.
Andhra Bank.
Allahabad Bank.
Indian B...
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Bank Branch Audit |
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Video recording of the Webinar on Bank Branch Statutory Audit
Posted Date : 19-Mar-2020 , 12:06:27 pm | Posted By CASANSAAR
Have you missed the Webinar on Bank Branch Statutory Audit?
Don't worry...
Plz find below the link for Video recording of the Webinar on Bank Branch Statutory Audit by CA. Amarjit Chopra ji (Past President, ICAI)
https://youtu.be/B_CBPgb-0-Y
Dont Forget to Subscribe CA Sansaar YouTub...
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Bank Branch Audit |
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YES Bank gets Rs 60k Cr credit line from RBI to resume operations
Posted Date : 19-Mar-2020 , 08:38:53 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has extended a credit line of Rs 60,000 crore to YES Bank to ensure that the bank is able to meet its obligations to depositors as it resumed its full-service operations on Wednesday, according to sources familiar with the development.
RBI Governor Shaktikanta Das ...
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Banking |
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PM Modi to address nation tonight on Coronavirus
Posted Date : 19-Mar-2020 , 08:31:17 am | Posted By CASANSAAR
Prime Minister Narendra Modi chaired a high-level meeting to review the ongoing efforts to tackle COVID-19 on March 18.
He is scheduled to address the nation on March 19 at 8 p.m., during which he will talk about issues relating to COVID-19 and the efforts to combat it.
“During the meeti...
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Income Tax |
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Webinar on Bank Branch Statutory Audit also on YouTube
Posted Date : 18-Mar-2020 , 09:29:39 am | Posted By CASANSAAR
Thank you very much for an overwhelming response for the Webinar on Bank Audit by CA. Amarjit Chopra ji on 18th March 2020 from 03:30 PM to 05:30 PM.
If you haven't received the link at your email id because of overwhelming response then also you can watch Live Webinar on YouTube.
ht...
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Bank Branch Audit |
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Bank branches could be shut for 4 days next week due to strike, holidays
Posted Date : 18-Mar-2020 , 09:20:01 am | Posted By CASANSAAR
Bank branches could be open only for three days next week due to a day-long bank strike and other bank holidays. To protest against the mega merger plan of 10 PSU banks into four larger banks, the All India Bank Employees' Association (AIBEA) and All India Bank Officers' Association (AIBOA) ...
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Banking |
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Govt set to overhaul Audit regime to check lapses in governance
Posted Date : 18-Mar-2020 , 09:17:29 am | Posted By CASANSAAR
The Ministry of Corporate Affairs is set to make major changes to the framework of statutory audits to ensure that managements cannot arm-twist or tempt auditors into overlooking governance lapses.
The proposed changes will mostly be through rules under the Companies Act as well as through change...
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Auditing |
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Vivad Se Vishwas Scheme Procedure
Posted Date : 17-Mar-2020 , 11:15:55 am | Posted By CASANSAAR
Procedure for Vivad Se Vishwas Scheme,
Watch this Video.
https://youtu.be/UKC1YUcRDBc
...
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Income Tax |
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RBI unveils Rs 1 Lakh Cr liquidity infusion to fight virus effect
Posted Date : 17-Mar-2020 , 09:17:10 am | Posted By CASANSAAR
Reserve Bank of India (RBI) governor Shaktikanta Das announced a Rs 1-lakh-crore liquidity infusion for banks through a long-term repo operation (LTRO) at the central bank’s policy rate of 5.15%. It also announced a second six-month dollar-swap facility. Under this, the central bank will make ...
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RBI |
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Former CJI Ranjan Gogoi nominated to Rajya Sabha
Posted Date : 17-Mar-2020 , 09:08:57 am | Posted By CASANSAAR
President Ram Nath Kovind on Monday nominated former Chief Justice of India (CJI) Ranjan Gogoi to the Rajya Sabha.
“In exercise of the powers conferred by sub-clause (a) of clause (1) of article 80 of the Constitution of India, read with clause (3) of that article, President is pleased to n...
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General |
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