Benami Transaction - What are Benami Transaction and its exclusions
Posted Date : 11-Feb-2020 , 09:46:22 am | Posted By CASANSAAR
Benami Transaction - What are Benami Transaction and its exceptions / exclusions under The Prohibition of Benami Property Transactions Act, explained by Adv.(CA) Ashwani Taneja, EX Member - ITAT.
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Income Tax |
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RBI publishes draft framework for new payment system
Posted Date : 11-Feb-2020 , 09:44:39 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Monday published draft framework for authorisation of a new pan India umbrella organization for retail payment systems.
The central bank has invited comments on the draft framework from all stakeholders by February 25.
At present, National Payments Corporatio...
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RBI |
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SC directs Centre to resolve technical difficulties In GST Portal
Posted Date : 11-Feb-2020 , 09:40:08 am | Posted By CASANSAAR
The Supreme Court on Monday directed the Central Government to resolve the technical glitches in the online filing of returns of Goods and Services Tax.
A bench comprising Justices Rohinton Fali Nariman and S Ravindra Bhat passed the direction while allowing the Centre's application for stayi...
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GST |
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GST on Notice Pay Recovery
Posted Date : 10-Feb-2020 , 10:25:11 am | Posted By CASANSAAR
GST on Notice Pay Recovery explained by CA. Bhavesh Mittal.
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Category :
GST |
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MCA seeks opinion on proposed Audit curbs
Posted Date : 10-Feb-2020 , 10:22:13 am | Posted By CASANSAAR
The government has sought opinion on restricting the number of audits by an audit firm and its partners following concerns in a number of cases. Some of the proposals could have a major impact on the Big Four.
The Ministry of Corporate Affairs (MCA) has put out a paper seeking suggestions on issu...
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MCA |
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Govt may notify merger of 10 PSBs to 4 this week
Posted Date : 10-Feb-2020 , 10:18:18 am | Posted By CASANSAAR
The government is likely to notify the merger of 10 public sector banks to create four big lenders later this week, as they have completed the groundwork for the same, two people familiar with the development said.
After it is notified, the respective bank boards will meet to give their customary...
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Category :
Banking |
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0 | Hits : 1108
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GSTN sets up panel to improve IT system
Posted Date : 10-Feb-2020 , 10:16:04 am | Posted By CASANSAAR
The Goods and Services Tax Network (GSTN) has announced setting up of a consultative committee to suggest ways to improve the functioning of its info-tech system.
The Committee will provide feedback and suggestions on new functionalities in the GST system and adoption of new IT tools. Members wil...
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Category :
GST |
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GST collection for last 3-months amounted to over Rs 1 lakh Cr each month
Posted Date : 10-Feb-2020 , 10:09:23 am | Posted By CASANSAAR
Union Finance Minister Nirmala Sitharaman has said that GST collection all through the country for the last three months amounted to more than a lakh crore rupees each month.
Speaking to reporters in Chennai today, she told that no state was sidelined when it came to sharing of revenue from...
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GST |
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Date for Payment of Membership/COP fee for the year 2019-20 is further extended - ICAI
Posted Date : 10-Feb-2020 , 10:05:15 am | Posted By CASANSAAR
This facility is being extended to Active Members who do not have Username and Password on the SSP Portal.
We urge you to create your credentials on the new platform for better and authenticated services.
Note : Please Enter your Proprietor / Individual GSTN Only
Please "CLICK HER...
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ICAI |
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CBIC extend the time limit for submitting Tran 01 till 31.03.2020
Posted Date : 08-Feb-2020 , 03:50:54 pm | Posted By CASANSAAR
CBIC vide Order No. 01/2020–GST dated 07.02.2020, extends the time limit for submitting Tran 01 till 31.03.2020 for registered person who could not submit the form due to technical difficulties
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Category :
GST |
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SLP Filed before SC against the order of Rajasthan HC
Posted Date : 07-Feb-2020 , 10:24:05 am | Posted By CASANSAAR
SLP has been Filed before Supreme Court of India against the order of Rajasthan HC regarding acceptance of GSTR-9 and GSTR-9C without late fees till February 12, in the matter of Tax Bar Association Vs UOI.
The Jodhpur bench of the Rajasthan High Court has directed the Revenue department to ...
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Category :
GST |
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Selection of Auditors - Policy of Empanelment of CA Firms
Posted Date : 07-Feb-2020 , 10:00:01 am | Posted By CASANSAAR
Selection of Auditors - Policy of Empanelment of CA Firms explained by CA. Bhawna Dawar.
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Category :
CAG |
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ITR forms may come pre-filled with capital gains, dividend, interest income
Posted Date : 07-Feb-2020 , 09:54:08 am | Posted By CASANSAAR
The government is likely to introduce pre-filled Income-Tax Return (ITR) forms for taxpayers with data on their capital gains from mutual funds, shares, dividend income and interest received from banks. Worth mentioning here is that the government has already introduced amendments to the Income Tax ...
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ITR |
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RBI to implement Pan-India cheque truncation system by Sep
Posted Date : 07-Feb-2020 , 09:48:46 am | Posted By CASANSAAR
In a bid to accelerate clearance of cheques, the Reserve Bank of India (RBI) on Thursday said it has decided to implement a cheque truncation system (CTS) across the country by September this year.
RBI introduced this system in 2010. At present, it is operational in some major cities. "...
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RBI |
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Income tax dept launches e-calculator to compare due tax under new, old regime
Posted Date : 06-Feb-2020 , 08:57:16 pm | Posted By CASANSAAR
The Income-Tax Department has launched an e-calculator for individuals to estimate their tax liability if they opt for the new tax slabs, without claiming deductions and exemptions, for ITR filing as announced in the recent Budget, officials said on Thursday.
The calculator, with a comparative ta...
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Category :
Income Tax |
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RBI keeps repo rate, reverse repo rate unchanged
Posted Date : 06-Feb-2020 , 08:54:38 pm | Posted By CASANSAAR
RBI Governor Shaktikanta Das today said that the Monetary Policy Committee’s decision to maintain status quo on policy rates for the second time in a row, must not be viewed as a pointer for future action.
Addressing the post-policy press conference in Mumbai today, Mr. Das said even though...
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RBI |
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ED attaches Rs 184.68-crore worth assets of CA, others in Bank Fraud
Posted Date : 06-Feb-2020 , 12:34:54 pm | Posted By CASANSAAR
(Source - Financial Express)
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CA |
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CBI arrests 3 company directors in Rs 2654 Cr bank fraud case
Posted Date : 06-Feb-2020 , 12:33:35 pm | Posted By CASANSAAR
(Source - IANS,Business Standard)
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Category :
Companies Act |
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Syndicate Bank writes off Rs 883 crore against fraud
Posted Date : 06-Feb-2020 , 12:27:46 pm | Posted By CASANSAAR
News Source - LiveMint
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Category :
Banking |
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0 | Hits : 2301
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New Express Entry draw produces 3,500 invitations to apply for Canadian PR
Posted Date : 06-Feb-2020 , 10:08:08 am | Posted By CASANSAAR
The Government of Canada issued 3,500 invitations to apply for Canadian permanent residence to Express Entry candidates in a draw held February 5.
The minimum Comprehensive Ranking System (CRS) score in this latest invitation round was 472, an increase of one point over the previous draw held Jan...
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Category :
International Business |
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Cabinet approves amendment to bring cooperative banks under RBI
Posted Date : 06-Feb-2020 , 10:03:15 am | Posted By CASANSAAR
The Union Cabinet on Wednesday approved amendments to the Banking Regulation Act to bring cooperative banks under the regulatory mechanism of Reserve Bank of India. The government has taken this move in the wake of the Punjab and Maharashtra Co-operative (PMC) Bank crisis.
The move will ensure gr...
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RBI |
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Budget 2020 - Individuals can switch tax regime every year
Posted Date : 06-Feb-2020 , 09:56:31 am | Posted By CASANSAAR
Taxpayers can switch back and forth between the existing income tax regime and the new one that offers lower slabs without exemptions, said the Central Board of Direct Taxes (CBDT) chairman PC Mody.
However, business owners won’t have this option. “Let it be very clearly noted that th...
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Category :
Budget |
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Rs.30 crore gets credited in flower vendor's wife bank account
Posted Date : 06-Feb-2020 , 09:53:11 am | Posted By CASANSAAR
A flower vendor from Channapatna town in Karnataka got a shock of his life when he found a credit of Rs.30 crore in his wife's bank account. This happened when Syed Malik Burhan was struggling to meet expenses for a medical emergency in the family.
According to reports, bank officials knocked...
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Category :
Banking |
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0 | Hits : 1136
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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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Category :
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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Category :
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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Category :
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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Category :
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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Category :
GST |
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0 | Hits : 1225
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