Govt likely to introduce lottery system to boost GST compliance soon
Posted Date : 05-Feb-2020 , 09:43:52 am | Posted By CASANSAAR
In a bid to encourage customers to ask for bills while making a purchase, the government is planning to introduce a lottery system, offering between Rs 10 lakh-one crore under the Goods and Services Tax (GST). Interim chairman of the Central Board of Indirect Taxes (CBIC) John Joseph said the govern...
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GST |
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FM to table Vivad se Vishwas Bill in Lok Sabha today
Posted Date : 05-Feb-2020 , 09:19:27 am | Posted By CASANSAAR
The Direct Tax Vivad Se Vishwas Bill, 2020 is expected to be tabled in Lok Sabha today. The bill aims at reducing litigations in the direct taxes payments.
Under the 'Vivad se Vishwas' scheme announced in the Union Budget, taxpayers whose tax demands are locked in dispute in multipl...
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Income Tax |
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Number of Indians shifting to Canada has doubled
Posted Date : 04-Feb-2020 , 09:49:11 pm | Posted By CASANSAAR
The number of Indians migrating to Canada has doubled in 2019, according to an American think tank.
The shift is due to increased restrictions on immigration by the United States government, the National Foundation for American Policy (NFAP) said.
Till November 2019, 80,685 Indians had opted f...
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International Business |
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MCA orders inspection of Zee Entertainment's books
Posted Date : 04-Feb-2020 , 09:46:52 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs has ordered an inspection of the financials of Zee Entertainment Enterprises Limited (ZEEL) following allegations of corporate governance lapses and after some of its independent directors quit recently, a source told Moneycontrol.
The inspection has been ordered...
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Corporate Law |
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De-criminalisation of penalties for Companies Law breaches
Posted Date : 04-Feb-2020 , 09:43:51 pm | Posted By CASANSAAR
Through the Companies (Amendment) Act, 2019, changes were made in the Companies Act, 2013, inter alia, to convert 16 criminal offences into civil wrongs. This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply to a question in Rajy...
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Corporate Law |
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CBDT issues clarification on the applicability of TDS provisions on Mutual Fund dividend
Posted Date : 04-Feb-2020 , 09:42:57 pm | Posted By CASANSAAR
The Finance Bill, 2020 proposed to remove Dividend Distribution Tax (DDT) at the level of Company/ Mutual Fund and proposed to tax the same in the hands of share/unit holder. It was also proposed to levy TDS at the rate of 10% on the dividend/ income paid by the Company/Mutual Fund to its ...
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CBDT |
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Man held for using fake invoices worth Rs 1,200 Cr - Delhi GST Officers
Posted Date : 04-Feb-2020 , 09:01:49 am | Posted By CASANSAAR
A man has been arrested here for allegedly using fake invoices worth over Rs 1,200 crore to get tax benefits, an official statement said on Monday.
Daya Shankar Kushwaha, who was arrested by tax officers recently, used a network of 49 shell firms for defrauding the government, it said.
"T...
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GST |
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CBIC extends GSTR-9 and GSTR-9C filing dates to February 5 and 7
Posted Date : 04-Feb-2020 , 08:49:44 am | Posted By CASANSAAR
The due dates for GSTR9 and 9C has been extended further in a staggered format. In a tweet CBIC says, the due dates for GSTR-9 and GSTR-9C for FY 2017-18 are being extended in a staggered manner for different groups of States to 5th and 7th February 2020.
The new due dates for Chandigarh, Delhi, ...
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GST |
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Pass Percentage of CA Foundation & IPC Nov 2019 Exam
Posted Date : 04-Feb-2020 , 08:36:38 am | Posted By CASANSAAR
RESULTS OF CHARTERED ACCOUNTANTS FOUNDATION EXAMINATION HELD IN NOVEMBER – 2019
The details of percentage of candidates passed in the above said examination are given below:
GENDER
No. of
Candidates
appeared
No. of
Candidates
passed
% of ...
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CA Exams |
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Govt to release due GST compensation to states in 2 installments
Posted Date : 03-Feb-2020 , 09:34:24 pm | Posted By CASANSAAR
The Centre will release all due GST compensation to states in two instalments, Union Minister Anurag Thakur said in Lok Sabha on Monday.
The reply came after MPs from Telangana and Odisha complained during Question Hour that their states were not getting the share of the Goods and Services Tax (G...
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GST |
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Analysis of Union Budget 2020 - Direct Tax Proposals
Posted Date : 03-Feb-2020 , 09:29:38 am | Posted By CASANSAAR
Analysis of Union Budget 2020 - Direct Tax Proposals by CA. Kapil Goel with CA. Vivek Khurana.
Watch this Video.
https://youtu.be/kRENebrlMkQ
...
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Budget |
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Analysis of GST Proposals under Union Budget 2020
Posted Date : 03-Feb-2020 , 09:27:56 am | Posted By CASANSAAR
Analysis of GST Proposals under Union Budget 2020 explained by CA. Gaurav Gupta with CA. Vivek Khurana.
Watch this video.
https://youtu.be/jlrt8n95zps
...
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GST |
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0 | Hits : 1070
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No intention to tax global income of NRIs in India - FM
Posted Date : 03-Feb-2020 , 09:16:06 am | Posted By CASANSAAR
Finance Minister Nirmala Sitharaman on Sunday said that there is no intention to tax global income of NRIs and only income generated in India will be taxed.
Following the Budget announcement on Saturday there was confusion about the tax liability of Non-Resident Indians (NRIs) on their global inc...
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Budget |
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CBDT issues clarification on the new provision in Finance Bill 2020
Posted Date : 03-Feb-2020 , 09:13:58 am | Posted By CASANSAAR
Central Board of Direct Taxes has said that The Finance Bill, 2020 has proposed that an Indian citizen shall be deemed to be resident in India if he or she is not liable to be taxed in any country or jurisdiction.
It said that the new provision in Finance Bill, 2020 is not intended to inclu...
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CBDT |
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New Personal Income Tax Regime heralds significant relief, especially for Middle Class Taxpayers
Posted Date : 01-Feb-2020 , 02:54:26 pm | Posted By CASANSAAR
In order to provide significant relief to the individual taxpayers and to simplify the Income-Tax law, the Union Budget proposes to bring a new and simplified personal income tax regime wherein income tax rates will be significantly reduced for the individual taxpayers who forgo certain deductions a...
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Income Tax |
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0 | Hits : 804
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MSMEs turnover threshold for Audit increased 5 times to Rs 5 Cr
Posted Date : 01-Feb-2020 , 02:54:11 pm | Posted By CASANSAAR
In order to reduce the compliance burden on small retailers, traders, shop keepers who comprise the Medium, Small and Micro Enterprise (MSME) sector, the Union Budget proposed to raise by five times the turnover threshold for audit from the existing Rs. 1 crore to Rs. 5 crore. While presenting ...
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Budget |
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FM proposes wide-ranging facilitation measures in Direct Tax Regime
Posted Date : 01-Feb-2020 , 02:48:04 pm | Posted By CASANSAAR
The Union Budget has proposed ‘Vivad Se Vishwas’ Scheme (No dispute but trust) which aims at reducing litigations in the direct taxes payments. While presenting the Union Budget 2020-21 in Parliament today, the Union Minister for Finance & Corporate Affa...
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Budget |
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0 | Hits : 786
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Increase in Customs Duty on Footwear and Furniture to promote domestic MSMEs
Posted Date : 01-Feb-2020 , 02:43:16 pm | Posted By CASANSAAR
Keeping in view the need of MSME sector, Customs duty is being raised on items like footwear (from 25% to 35% on footwear and from 15% to 20% on parts of footwear) and furniture (from 20% to 25%). While presenting the Union Budget 2020-21 in Parliament today, the Union Minister for Fi...
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Budget |
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Rs.1,10,828 Cr GST Gross Revenue collected for January, 2020
Posted Date : 01-Feb-2020 , 02:41:41 pm | Posted By CASANSAAR
The gross GST revenue collected in the month of January, 2020 is Rs. 1,10,828 crore of which CGST is Rs. 20,944 crore, SGST is Rs. 28,224 crore, IGST is Rs. 53,013 crore (including Rs. 23,481 crore collected on imports) and Cess is&nbs...
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GST |
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0 | Hits : 809
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Budget 2020 - Rs.99,300 crore for Education, Rs. 3,000 Cr for Skill Development
Posted Date : 01-Feb-2020 , 02:36:29 pm | Posted By CASANSAAR
150 Higher Educational Institutions to start apprenticeship embedded degree/diploma courses by March, 2021 Degree level online education programmes for students of deprived sections of the society External Commercial Borrowings and FDI to be encouraged for financing education infrastructure Ind-SAT ...
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Budget |
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Rs 35,600 Cr outlay for nutrition-related Programmes for 2020-21
Posted Date : 01-Feb-2020 , 02:32:46 pm | Posted By CASANSAAR
Rs 28,600 Crore allocated for programs specific to Women Gross Enrolment Ratio of Girls exceeds that of Boys across all levels of education Rs 85,000 Crore outlay for welfare of Scheduled Castes and other Backward Classes for 2020-21 Rs 53,700 Crore allocated for welfare of scheduled tribes fo...
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Budget |
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Budget 2020 - Reforms in Banking Sector to remain priority - FB
Posted Date : 01-Feb-2020 , 02:30:48 pm | Posted By CASANSAAR
Deposit Insurance coverage to be increased to Rs. Five lakh per depositor PFRDAI Amendments: separate NPS trust for Govt Employees Proposal to sell a part of government holding in LIC by way of IPO: opportunity for retail investors Focus on MSMEs: Invoice Financing, Subordinate Debt, Export support ...
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Budget |
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Data Centre Parks Policy soon for Private Firms to Leverage the Power of Data
Posted Date : 01-Feb-2020 , 02:29:56 pm | Posted By CASANSAAR
RS. 6000 crore proposed for Bharatnet Programme to link 100,000 Gram Panchayats Knowledge Translation and Technology Clusters Amongst Measures to Boost Start-Ups Rs. 8000 crore outlay over five years for National Mission on Quantum Technologies and Applications
Emphasizing on the disrup...
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Budget |
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Tourism sector proposed to get Rs 2,500 Crore in union budget 2020-21
Posted Date : 01-Feb-2020 , 02:29:02 pm | Posted By CASANSAAR
Rs 3,150 Crore proposed for Ministry of Culture Indian Institute of Heritage and Conservation to be established 8 New Museums proposed, 5 Museums set for major overhaul 5 Iconic sites to see Infrastructure development
To make India an attractive destination for both international and do...
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Budget |
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0 | Hits : 705
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Budget 2020 - 100 more Airports to be developed by 2024 to support UDAAN Scheme
Posted Date : 01-Feb-2020 , 02:28:03 pm | Posted By CASANSAAR
Union budget proposes Rs. 22000 Crore for Power and Renewable Energy sector in Current FY National Gas Grid to be expanded from the present 16200 km to 27000 km Government to consider corporatizing at least one major port and its listing on stock exchanges
Union Minister for Finance &am...
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Budget |
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Summary of Union Budget 2020-21 - Part B
Posted Date : 01-Feb-2020 , 02:23:55 pm | Posted By CASANSAAR
Finance Minister Smt Nirmala Sitharaman said that the Union Government has spearheaded radical fiscal measures to ensure that India‟s economy continues to tread the path of high growth. She said that to make sure India stays globally competitive and a favoured destination for investment, a bold hi...
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Budget |
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Key Highlights of Union Budget 2020-21
Posted Date : 01-Feb-2020 , 02:11:17 pm | Posted By CASANSAAR
Presenting the first Union Budget of the third decade of 21st century, Finance Minister Smt. Nirmala Sitharaman, today unveiled a series of far-reaching reforms, aimed at energizing the Indian economy through a combination of short-term, medium-term, and long-term measures.
The Key Highlights of ...
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Budget |
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FM to present Union Budget for 2020-2021 in Lok Sabha today
Posted Date : 01-Feb-2020 , 08:01:31 am | Posted By CASANSAAR
Finance Minister Nirmala Sitharaman will present the budget for the next financial year in the Lok Sabha at 11.00 a.m. today. AIR correspondent reports that the budget is expected to focus on ease of doing business, entrepreneurship and wealth creation at the Grassroots.
The Finance M...
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Budget |
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0 | Hits : 794
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GSTR-9 & GSTR-9C due dates extended in a Staggered manner
Posted Date : 01-Feb-2020 , 07:32:08 am | Posted By CASANSAAR
Considering the difficulties being faced by taxpayers in filing GSTR-9 and GSTR-9C for FY 2017-18 it has been decided to extend the due dates in a staggered manner for different groups of States to 3rd, 5th and 7th February 2020 as under. Notifications will follow.
Group 1: Maharashtra, Karnataka...
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GST |
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0 | Hits : 1138
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Key Highlights of Economic Survey 2019-20
Posted Date : 31-Jan-2020 , 04:51:18 pm | Posted By CASANSAAR
The Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman presented the Economic Survey 2019-20 in the Parliament today. The Key Highlights of the Economic Survey 2019-20 are as follows:
Wealth Creation: The Invisible Hand Supported by the Hand of Trust
...
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Budget |
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