SEBI tightens norms for investment advisers to prevent mis-selling
Posted Date : 18-Feb-2020 , 09:58:11 am | Posted By CASANSAAR
The markets regulator on Monday barred investment advisers from simultaneously selling financial products and advisory services, and capped the fees they can charge their clients, in an attempt to curb mis-selling and protect investors.
From now on, an entity can provide either advisory services ...
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SEBI |
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Saskatchewan issues 646 invitations to Express Entry and Occupations In-Demand candidates
Posted Date : 18-Feb-2020 , 09:53:43 am | Posted By CASANSAAR
Saskatchewan invited immigration candidates to apply for a provincial nomination for permanent residence.
The Saskatchewan Immigrant Nominee Program (SINP) sent out a total of 646 invitations to candidates in the Express Entry and Occupations In-Demand categories.
In order to be selected, cand...
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International Business |
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0 | Hits : 746
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SEBI decides to permit the use of regulatory sandbox
Posted Date : 18-Feb-2020 , 09:27:35 am | Posted By CASANSAAR
Securities and Exchange Board of India (SEBI) has decided to permit the use of regulatory sandbox, a system that will allow live testing of new products, services and business models by market players on select customers. The decision was taken at SEBI’s board meeting held in Mumbai yesterday....
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SEBI |
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0 | Hits : 701
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CBIC starts capturing district-wise data or origin of export goods
Posted Date : 18-Feb-2020 , 09:22:40 am | Posted By CASANSAAR
Keeping with the Hon’ble PM’s objective of turning districts into export hubs, Central Board of Indirect Taxes and Customs has now started capturing district-wise data or origin of export goods. The idea was also recently echoed by the Hon’ble Finance Minister in her Budget speech....
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CBDT |
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Deloitte also stops Non-Audit services to clients in India
Posted Date : 17-Feb-2020 , 08:52:09 am | Posted By CASANSAAR
The Indian affiliate of Deloitte Haskins and Sells on Sunday said the auditor and its network firms in the country will no longer offer non-audit services to “public interest entities" they audit in India, three days after Price Waterhouse India made a similar announcement.
“We b...
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Auditing |
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0 | Hits : 1151
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Revised IFRS 16 - Finance Lease
Posted Date : 16-Feb-2020 , 09:59:43 am | Posted By CASANSAAR
Discussion on Revised IFRS 16 - Finance Lease by CA. Bhawna Dawar.
Watch this Video, Click on the link below...
https://youtu.be/qzMbyqdHhIY
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IFRS |
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0 | Hits : 1024
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RBI board recommends aligning accounting year with fiscal year from 2020-21
Posted Date : 16-Feb-2020 , 09:45:46 am | Posted By CASANSAAR
The Reserve Bank board on Saturday recommended aligning the central bank's accounting year, beginning July, with the financial year from 2020-21, an official statement said.
The Central Board of Directors of the RBI at its 582nd meeting reviewed the current economic situation, global and dome...
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RBI |
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Interest on delayed GST payment will now be calculated on net tax liability - CBIC
Posted Date : 16-Feb-2020 , 09:40:36 am | Posted By CASANSAAR
Interest payable on delayed payment of GST will henceforth be calculated on net tax liability and the law is being amended to give effect to it, the Central Board of Indirect Taxes and Customs (CBIC) said on Saturday.
Amid worry in the industry regarding CBIC's recent directive to field forma...
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GST |
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0 | Hits : 1098
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PAN to become inoperative after March 31 if not linked with Aadhaar - CBDT
Posted Date : 15-Feb-2020 , 10:18:58 am | Posted By CASANSAAR
Permanent Account Number (PAN) will become inoperative if it is not linked with Aadhaar by March 31, 2020, the Income Tax department has said.
The deadline for linking of PAN and Aadhar has been extended several times and the current deadline ends on March 31, 2020.
Till January 27, 2020, over...
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PAN |
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0 | Hits : 1345
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SEBI rolls out system to detect misuse of client securities by brokers
Posted Date : 15-Feb-2020 , 10:02:20 am | Posted By CASANSAAR
Securities and Exchange Board of India (Sebi) on Thursday introduced a system to monitor and detect misuse of client securities by stock brokers, following the debacle at Karvy Stock Broking Ltd.
Under the new system, an online register will record brokers’ holdings of client securities, a ...
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SEBI |
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0 | Hits : 783
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CBDT notifies forms for Cos to avail lower corporate taxes
Posted Date : 15-Feb-2020 , 09:53:00 am | Posted By CASANSAAR
The income tax (I-T) department has notified forms for companies to avail the reduced corporate tax rates that were announced in September last year.
The Central Board of Direct Taxes (CBDT) has notified Forms 10-IC and 10-ID for existing companies that want to avail lower I-T rate and new manufa...
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CBDT |
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0 | Hits : 2392
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Lenders set to recover 43.1% from insolvency proceedings
Posted Date : 15-Feb-2020 , 09:48:57 am | Posted By CASANSAAR
Successful resolutions of corporate insolvency proceedings till the end of 2019 are set to result in recoveries of Rs 1.52 lakh crore for lenders, averaging 43.1% of their admitted claims of Rs 3.52 lakh crore, according to data released by the Insolvency and Bankruptcy Board of India (IBBI).
Res...
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Category :
Insolvent Professional |
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0 | Hits : 734
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How to reply to the GST Dept Notices on ITC
Posted Date : 14-Feb-2020 , 10:54:28 am | Posted By CASANSAAR
How to reply to the GST Dept Notices on ITC explained by CA. Mohit Gupta.
Watch this Video...
https://youtu.be/6y3aeiFqUFs
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Category :
GST |
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0 | Hits : 1122
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Income Tax Dept lead to detection of unaccounted income of more than Rs. 2000 crore
Posted Date : 14-Feb-2020 , 10:48:07 am | Posted By CASANSAAR
Income Tax Department carried out Search and Seizure action on 6th February 2020 at Hyderabad, Vijaywada, Cuddapah, Vishakhapatnam, Delhi and Pune. More than 40 premises were covered.
The search action included three prominent infrastructure groups based in Andhra Pradesh and Telangana. Investiga...
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Category :
Income Tax |
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0 | Hits : 826
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RBI appoints five executive Directors
Posted Date : 14-Feb-2020 , 10:38:22 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has elevated five officials to the executive directors’ post.
The officials will be taking charge during the year.
Those elevated are Indrani Banerjee, Regional Director, Nagpur, Saurav Sinha, chief general manager-in-charge, Vivek Deep, CGM in-charge, J.K...
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RBI |
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0 | Hits : 1043
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Only 2,200 professionals declared income above Rs 1 Cr in FY19
Posted Date : 14-Feb-2020 , 10:26:59 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) on February 13 reiterated that only 2,200 professionals had indeed declared annual income above Rs 1 crore in FY19, as had been stated by Prime Minister Narendra Modi in his February 12 address at an event.
PM Modi's statement that it is was unbelievab...
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Category :
Income Tax |
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0 | Hits : 955
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Manitoba invites 242 immigration candidates to apply for provincial nomination for PR
Posted Date : 14-Feb-2020 , 10:14:29 am | Posted By CASANSAAR
Manitoba has sent out another round of invitations to immigration candidates who submitted Expression of Interest (EOI) profiles to their provincial nominee program.
On February 13, the Manitoba Provincial Nominee Program (MPNP) invited 242 candidates to apply for a provincial nomination for perm...
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Category :
International Business |
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0 | Hits : 919
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FinMin notifies common application form for FPI registration
Posted Date : 13-Feb-2020 , 10:15:34 pm | Posted By CASANSAAR
The finance ministry has notified a common application form for registration of foreign portfolio investors in a bid to enhance operational flexibility and ease of access to the Indian capital market.
Last week, markets regulator Securities and Exchange Board of India (Sebi) had come out with a c...
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Category :
Finance |
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0 | Hits : 780
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PW India becomes first of top 4 audit firms to not provide non-audit services
Posted Date : 13-Feb-2020 , 09:34:37 pm | Posted By CASANSAAR
Price Waterhouse Network of Firms in India (PW India) on Thursday announced their decision to no longer provide non-audit related services to their audit clients in India which are governed by National Financial Reporting Authority (NFRA). This comes after a ministry of corporate affairs (MCA) discu...
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Auditing |
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0 | Hits : 857
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DGGI busts firm for making bogus Input Tax Credit invoices of more than Rs 268 crores
Posted Date : 13-Feb-2020 , 05:43:24 pm | Posted By CASANSAAR
The Directorate General of GST Intelligence (DGGI), Gurugram Zonal Unit (GZU), Haryana, has arrested Shri Nitin Jain, resident of Sonepat, Haryana, proprietor of M/s Shiv Trade Incorporation, Delhi, for issuing bogus invoices.
During investigation it was revealed that Shri Nitin Jain has issued b...
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Category :
Income Tax |
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0 | Hits : 752
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Income Tax Dept to give SEBI data of taxpayers for fraud probe
Posted Date : 13-Feb-2020 , 08:45:11 am | Posted By CASANSAAR
The Income-Tax Department will share all taxpayers’ data, such as PAN information, with the Securities and Exchange Board of India (SEBI) in order to help the capital market regulator in its probe against various entities, including those involved in ‘stock market manipulation’, an...
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Category :
Income Tax |
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0 | Hits : 753
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Govt to raise Rs.46,000 Cr as late GST payment interest
Posted Date : 13-Feb-2020 , 08:41:12 am | Posted By CASANSAAR
The government has discovered a new revenue stream to make up for the shortfall in GST collection and is looking to collect Rs.46,000 crore as interest on late payment of tax.
Tax experts disputed the number saying government had promised to hand-hold the taxpayers at the time of migration to the...
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Category :
GST |
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0 | Hits : 1229
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New President & Vice-President of ICAI for the year 2020-21
Posted Date : 13-Feb-2020 , 08:32:03 am | Posted By CASANSAAR
New President & Vice-President of ICAI
The Institute of Chartered Accountants of India (ICAI) elected its new President & Vice-President for the term 2020-2021.
CA. Atul Kumar Gupta has been elected as the President, ICAI and CA. Nihar Niranjan Jam...
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ICAI |
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1 | Hits : 1104
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'Vivad se Vishwas' scheme: CBDT to review pendency of appeals.
Posted Date : 12-Feb-2020 , 06:05:27 pm | Posted By CASANSAAR
CBDT will hold a nationwide review of cases pending at the ITAT and high courts level on Wednesday as part of a proposed scheme announced in the budget to settle disputed tax cases between the I-T Department and taxpayer, officials said. Meanwhile, the Union Cabinet also approved changes in the '...
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CBDT |
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0 | Hits : 1126
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Union cabinet okays changes in 'Vivad se Vishwas' Bill for faster resolution in direct tax litigation
Posted Date : 12-Feb-2020 , 06:02:07 pm | Posted By CASANSAAR
The Union Cabinet on Wednesday approved changes in the 'Direct Tax Vivad se Vishwas Bill, 2020' with a view to increase its scope to cover litigation pending in various debt recovery tribunals (DRTs).The Bill was introduced in the Lok Sabha earlier this month with the aim of reducing litigat...
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Category :
General |
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0 | Hits : 1022
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Insolvency to be limited to realty project concerned - NCLAT
Posted Date : 12-Feb-2020 , 07:26:27 am | Posted By CASANSAAR
In a relief to realty players, the National Company Law Appellate Tribunal (NCLAT) has held that any insolvency process initiated by a flat buyer or financial institution would be limited to the project concerned only and not impact other projects of developers.
A NCLAT bench headed by Chairman J...
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Category :
Insolvent Professional |
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0 | Hits : 941
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Income Tax dept issues notices in 422 cases for undisclosed foreign assets
Posted Date : 12-Feb-2020 , 07:19:23 am | Posted By CASANSAAR
Income Tax department has issued notices in 422 cases involving undisclosed foreign assets and income of over Rs 12,600 crore till December 31, 2019, minister of state for finance Anurag Thakur said in a written reply in Rajya Sabha, Tuesday, on the concerted efforts taken by the government to recov...
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Category :
Income Tax |
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0 | Hits : 1022
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Regulation of irregularities in GST claims
Posted Date : 11-Feb-2020 , 06:22:37 pm | Posted By CASANSAAR
To identify cases of fraudulent claims under Goods & Services Tax (GST), the Government of India has taken measures to apply stringent risk parameters-based checks driven by rigorous data analytics and Artificial Intelligence (AI) tools based on which certain taxpayers are taken up for further v...
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Category :
GST |
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0 | Hits : 989
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Lending from CRR buffer to get 5-year exemption: RBI
Posted Date : 11-Feb-2020 , 10:15:50 am | Posted By CASANSAAR
The Reserve Bank of India has said that the special lending window with Cash Reserve Ratio exemption will be open from 14th of February and incremental loans disbursed under this facility will have CRR exemption for the next five years.
The central bank circular issued in Mumbai yesterday said th...
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RBI |
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0 | Hits : 956
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Canada broke another record by welcoming 341,000 immigrants in 2019
Posted Date : 11-Feb-2020 , 09:52:11 am | Posted By CASANSAAR
Canada continued its immigration record-setting pace by welcoming 341,000 newcomers in 2019. This is only the fifth time in its history that it has welcomed more than 300,000 immigrants in one year (the other times were 1911-1913 and 2018).
Canada also exceeded the target it set in its 2019-202...
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Category :
International Business |
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0 | Hits : 1046
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