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...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 808
|
 |
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 ...
Continue Reading...
Category :
Budget |
Comments :
0 | Hits : 1064
|
|
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...
Continue Reading...
Category :
Budget |
Comments :
0 | Hits : 791
|
|
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...
Continue Reading...
Category :
Budget |
Comments :
0 | Hits : 749
|
|
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...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 812
|
|
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 ...
Continue Reading...
Category :
Budget |
Comments :
0 | Hits : 743
|
|
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...
Continue Reading...
Category :
Budget |
Comments :
0 | Hits : 727
|
|
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 ...
Continue Reading...
Category :
Budget |
Comments :
0 | Hits : 708
|
|
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...
Continue Reading...
Category :
Budget |
Comments :
0 | Hits : 676
|
|
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...
Continue Reading...
Category :
Budget |
Comments :
0 | Hits : 716
|
|
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...
Continue Reading...
Category :
Budget |
Comments :
0 | Hits : 703
|
|
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...
Continue Reading...
Category :
Budget |
Comments :
0 | Hits : 905
|
|
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 ...
Continue Reading...
Category :
Budget |
Comments :
0 | Hits : 883
|
|
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...
Continue Reading...
Category :
Budget |
Comments :
0 | Hits : 805
|
|
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...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1147
|
|
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
...
Continue Reading...
Category :
Budget |
Comments :
0 | Hits : 832
|
|
Two Days Live Webinar on Analysis of Union Budget 2020 at YouTube
Posted Date : 31-Jan-2020 , 03:38:27 pm | Posted By CASANSAAR
Thank you very much for an overwhelming response. We have decided to also Live the Two Days Webinar on YouTube so that Maximum members can watch it live.
So please find below the link for the same for both the days.
On Direct Tax Amendments - 1st Feb.2020 from 06:30 PM onw...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 928
|
|
Govt appoints M Ajit Kumar as Chairman of CBIC ahead of Budget
Posted Date : 31-Jan-2020 , 09:01:04 am | Posted By CASANSAAR
The government on Thursday appointed M Ajit Kumar as chairman of the Central Board of Indirect Taxes and Customs.
The appointment comes just two days before the Union Budget presentation. "The Appointments Committee of the Cabinet has approved the appointment," said an official re...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 750
|
|
FinMin summons Infosys on GST tech glitches
Posted Date : 31-Jan-2020 , 08:56:28 am | Posted By CASANSAAR
With complaints rising against the IT system of Goods & Service Tax (GST), the Finance Ministry has summoned Infosys on Friday to seek an explanation. Infosys is the technology service provider for GST.
According to FinMin sources, the Finance Ministry has called CN Raghupati, Senior Vice-Pre...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 882
|
|
Income tax e-assessment helpline phone number, email ID
Posted Date : 31-Jan-2020 , 08:47:05 am | Posted By CASANSAAR
To help those taxpayers who have queries regarding the faceless e-assessment scheme, the income tax department has launched a helpline facility. There is now an email address and telephone number exclusively dedicated to resolve the queries of taxpayers who have received notices from the National e-...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 962
|
|
Employees of public sector banks to go on two-day nationwide stir from today
Posted Date : 31-Jan-2020 , 08:43:54 am | Posted By CASANSAAR
Bank unions have decided to go on a two-day nationwide strike from Friday as talks with management of public sector lenders on wage revision have failed to reach a consensus.
Many banks, including SBI, have informed customers that operations may be impacted to some extent due to the strike.
Th...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 691
|
|
Govt to get over Rs 39,500 Cr under Sabka Vishwas Scheme
Posted Date : 31-Jan-2020 , 08:40:59 am | Posted By CASANSAAR
The government is expected to realise Rs 39,500 crore from the Sabka Vishwas Scheme, a dispute resolution-cum-amnesty scheme for settling pending disputes of service tax and central excise, according to sources.
This will act as a big booster for the government, which is staring at revenue shorta...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 625
|
|
Changes in GST applicable w e f 01st January 2020
Posted Date : 30-Jan-2020 , 10:41:38 am | Posted By CASANSAAR
Changes in GST applicable wef 01st January 2020 eplained by CA Mohit Gupta.
Watch this video, click on the link.
https://youtu.be/AivBLrzeUY8
...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 3148
|
|
European Parliament approves Brexit deal with Britain
Posted Date : 30-Jan-2020 , 09:19:45 am | Posted By CASANSAAR
European Parliament has voted overwhelmingly to approve the Brexit deal with London, clearing the final hurdle for Britain's departure from the EU.
The vote was 621 to 49 in favour of the Brexit deal that British Prime Minister Boris Johnson negotiated with the other 27 EU leaders.After Brita...
Continue Reading...
Category :
International Business |
Comments :
0 | Hits : 661
|
|
RBI imposes Rs 1 Cr penalty on HDFC Bank
Posted Date : 29-Jan-2020 , 10:51:37 pm | Posted By CASANSAAR
The Reserve Bank of India has imposed a penalty of Rs 1 crore on HDFC Bank for non-compliance with Know Your Customer (KYC) norms, the central bank said on Wednesday.
The RBI in a release said that supervisory evaluation of the bank (2016-17) revealed that the HDFC Bank had “failed to exerc...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 873
|
|
MCA notifies rules for winding up of Companies under Companies Act
Posted Date : 29-Jan-2020 , 10:49:38 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs (MCA) on Tuesday notified rules for winding up of companies, making it easier for smaller firms to wind up businesses without taking approval.
The rules have provided summary procedures for liquidation of companies with asset size of Rs 1 crore and which ha...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 1806
|
|
MCA may soon tighten reporting norms for Auditors
Posted Date : 29-Jan-2020 , 09:41:08 am | Posted By CASANSAAR
The government is planning to tighten reporting norms for auditors to ensure they perform their duties responsibly, BusinessLine reported.
The Ministry of Corporate Affairs (MCA) might tweak the Companies Auditors Report Order (CARO) and the audit reporting standards as mandated under the Compani...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 1872
|
|
Simplification of GSTR 9 & GSTR 9C Discussion on tweets by GST Tech
Posted Date : 28-Jan-2020 , 09:51:42 am | Posted By CASANSAAR
Simplification of GSTR-9 & GSTR-9C Discussion on tweets by GST Tech On 27/01/2020 by CA Mohit Gupta.
Watch this Video.
https://youtu.be/mouFG_04qOE
...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1455
|
|
5000 Companies under scanner over mismatch between Income Tax and GST filings
Posted Date : 28-Jan-2020 , 09:48:13 am | Posted By CASANSAAR
Around 5,000 companies have come under the scanner of tax authorities due to alleged discrepancies between their Goods and Services Tax (GST) filings and Income Tax (I-T) returns, Business Standard reported.
The Central Board of Direct Taxes (CBDT) has ordered search-and-survey operations against...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 4172
|
|
Shri Sunil Mehta appointed as IBA Chief Executive
Posted Date : 28-Jan-2020 , 09:46:19 am | Posted By CASANSAAR
Shri Sunil Mehta took over as Chief Executive of IBA on January 27, 2020. He retired as Managing Director and CEO of Punjab National Bank.
He Succeds Shri V G Kannana Who demitted Office as Chief Excutive on 31st December 2019 after being at the half for three years.#casansaar (Source - IBA)
...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 1033
|
|
|
