IBBI amends voluntary liquidation process regulations
Posted Date : 18-Jan-2020 , 09:49:45 am | Posted By CASANSAAR
A liquidator will have to deposit unclaimed dividends and undistributed proceeds in a separate account before seeking dissolution of a corporate debtor under the voluntary liquidation process, according to the IBBI. The Insolvency and Bankruptcy Board of India (IBBI) has notified changes to the volu...
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Insolvent Professional |
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SEBI comes out with disclosure format for listed debt securities
Posted Date : 18-Jan-2020 , 09:41:07 am | Posted By CASANSAAR
Markets regulator Sebi on Friday came out with a disclosure format for listed companies which have issued debt securities, under which they need to disclose on half-yearly basis about deviation in the use of proceeds from the objects stated in the offer documents.
The first such submission should...
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SEBI |
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Income Tax notice for Rs 3.5 Cr penalty leaves BPO employee Shocked
Posted Date : 17-Jan-2020 , 09:14:49 am | Posted By CASANSAAR
A man from Bhind district in Madhya Pradesh, who currently works in a BPO firm in Punjab, has said that he got the shock of his life when he received an Income Tax Department notice, asking him to pay Rs 3.49 crore penalty for the alleged transactions of Rs 132 crore done in 2011-12.
Ravi Gupta, ...
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Income Tax |
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Pass percentage and Toppers of CA Final Nov 2019 Exam
Posted Date : 16-Jan-2020 , 05:32:20 pm | Posted By CASANSAAR
CA Final New Course Pass Percentage Nov 2019
Candidates Applied for
Appeared
Passed
Pass %
Group – I only
27861
4830
17.34
Group –II only
26972
7593
28.15
Both Groups
15003
...
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CA Results |
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0 | Hits : 2204
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RBI issues new debit and credit card rules to improve convenience and security
Posted Date : 15-Jan-2020 , 10:41:54 pm | Posted By CASANSAAR
As over the years, the volume and value of transactions made through cards have increased manifold, the Reserve Bank of India on Wednesday issued new rules for credit and debit cards to improve user convenience and increase the security of card transactions.
RBI asks banks to allow only domestic ...
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RBI |
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Govt saves Rs 350 Cr fake IGST refund due to untraceable of over 1200 exporters
Posted Date : 15-Jan-2020 , 10:30:02 pm | Posted By CASANSAAR
Revenue Department using its data analytics has discovered a fraud in GST refunds with as many as 1,200 exporters, who have have claimed Rs 350 crore refunds, are now untraceable.
The department has reasons to consider that nefarious elements among the customs broker community may be connected wi...
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GST |
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High Court Decision on Communication or NOC from Previous Auditor
Posted Date : 15-Jan-2020 , 09:12:59 am | Posted By CASANSAAR
Delhi High Court Decision on Communication or NOC from Previous Auditor explained by CA.(Adv) S.S.Sharma. Watch this Video.
https://youtu.be/p5msbZ_RZuI
Dont Forget to Like the video and SUBSCRIBE CA Sansaar YouTube Channel
...
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Category :
Auditing |
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Budget may make faking input tax non-bailable crime for buyers too
Posted Date : 15-Jan-2020 , 09:04:48 am | Posted By CASANSAAR
The government is likely to make fraudulent claims for input tax credit a non-bailable offence in the hands of recipients of goods and services in the February 1 budget by tightening the GST law, as it seeks to plug leakages.
CXOs, directors or employees directly responsible for making such claim...
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Budget |
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HC clears confusion over contentious issue of composite supply under GST
Posted Date : 15-Jan-2020 , 09:03:11 am | Posted By CASANSAAR
The Kerala high court has tried to clear the air over the contentious issue of composite supplies under the Goods and Services Tax (GST) which experts say may become guiding principles to decide cases in litigation.
If more than one good or service are supplied by a company, these could be consid...
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GST |
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0 | Hits : 1998
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CCI orders probe against Amazon, Flipkart over discount practices
Posted Date : 15-Jan-2020 , 08:57:00 am | Posted By CASANSAAR
Fair trade regulator Competition Commission of India, CCI has ordered a probe against Flipkart and Amazon for alleged malpractices, including deep discounting and tie-ups with preferred sellers.
The order follows a complaint filed by Delhi Vyapar Mahasangh, whose members comprise many traders dea...
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General |
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SC exempts retrospective petitions from IBC amendment
Posted Date : 14-Jan-2020 , 08:18:54 am | Posted By CASANSAAR
The Supreme court of India on Monday gave a status quo order regarding the amendment of section 3 of the Insolvency and Bankruptcy Code that homebuyers set stringent conditions for individual financial creditors to approach the bankruptcy court. The Monday's order by the SC has exempted the peti...
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Insolvent Professional |
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0 | Hits : 1000
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SEBI defers deadline to split chairman & MD post by 2 years
Posted Date : 14-Jan-2020 , 08:13:17 am | Posted By CASANSAAR
Markets regulator Sebi has deferred by two years to April 2022 its directive for listed companies to split the roles of chairman and managing director in view of demand from corporates, and to keep compliance burden lower in the wake of the current economic scenario.
Under the Sebi norms, the top...
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SEBI |
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0 | Hits : 840
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CBI arrests insolvency resolution professional in case of Bribe
Posted Date : 14-Jan-2020 , 08:07:13 am | Posted By CASANSAAR
The CBI has arrested an insolvency resolution professional (IRP) appointed by the NCLT and another person for allegedly receiving a bribe of Rs 3.5 lakh from a consultant by threatening him with a criminal case, officials said on Monday.
In what is likely to be the first corruption case by the CB...
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Insolvent Professional |
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0 | Hits : 1044
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Government may address inverted duty structure in Budget
Posted Date : 14-Jan-2020 , 07:59:10 am | Posted By CASANSAAR
To boost manufacturing as part of the 'Make In India' campaign, the government is expected to address the issue of inverted duty structure, especially in sectors such as chemicals and electronics, in the forthcoming Budget, sources said. Inverted duty structure refers to taxation of inputs a...
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Budget |
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ICICI Bank seeks recovery of amounts from Chanda Kochhar
Posted Date : 14-Jan-2020 , 07:54:42 am | Posted By CASANSAAR
The ICICI bank has approached the Bombay High Court seeking effect to "termination of appointment" of Chanda Kochhar as its Managing Director and CEO, and also sought recovery of various amounts from her.
In a monetary suit filed on 10 January, the bank sought dismissal of Kochhar's...
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Banking |
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CA Intermediate and Foundation Nov.Exams Result to be declared on 3rd/4th Feb 2020
Posted Date : 14-Jan-2020 , 07:46:13 am | Posted By CASANSAAR
The results of the Chartered Accountants Intermediate (Old Course & New Course) Examination and Foundation Examination held in November, 2019 are likely to be declared on Monday, February 3rd , 2020 (evening)/Tuesday, February 4th, 2020 and the same as well as the All India merit list (upto the ...
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CA Results |
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0 | Hits : 1059
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Applicability of Sec 68, 69A and 115BBE on cash deposited during demonetisation
Posted Date : 13-Jan-2020 , 08:59:20 am | Posted By CASANSAAR
Applicability of Sec 68, 69A and 115BBE in the cases of cash deposited during demonetisation explained by CA. Rajiv Jain.
https://youtu.be/3Vq6jKNjYLI
...
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Income Tax |
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0 | Hits : 2578
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RBI amends KYC norms, allows banks to use V-CIP
Posted Date : 11-Jan-2020 , 07:32:56 pm | Posted By CASANSAAR
The RBI has amended the KYC norms allowing banks and other lending institutions regulated by it to use Video based Customer Identification Process (V-CIP), a move which will help them onboard customers remotely. The V-CIP, which will be consent-based, will make it easier for banks and other regulate...
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RBI |
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0 | Hits : 793
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RBI extends recurring payments feature to UPI
Posted Date : 11-Jan-2020 , 12:00:26 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) will now allow consumers to give an e-mandate for recurring payments made through Unified Payments Interface (UPI), a move that is expected to ease small digital payments made at grocery shops and local stores.
This functionality will allow UPI users to bypass addi...
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RBI |
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0 | Hits : 1001
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Ontario issues first Express Entry-linked invitations of 2020
Posted Date : 11-Jan-2020 , 11:59:16 am | Posted By CASANSAAR
Ontario issued its first Express Entry-linked invitations of the new year on Friday, inviting 242 candidates to apply for a nomination for Canadian permanent residence through its French-Speaking Skilled Worker Stream.
The stream is one of three Ontario immigration pathways that are aligned...
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International Business |
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0 | Hits : 1035
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Revolutionary Changes to Double Accounting - Triple Accounting
Posted Date : 11-Jan-2020 , 11:57:23 am | Posted By CASANSAAR
Revolutionary Changes to Double Accounting - Triple Accounting explained by CA. Aishwary Gupta.
https://youtu.be/t5sX9NpAJ0M
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General |
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RBI releases national strategy for financial inclusion
Posted Date : 11-Jan-2020 , 11:54:15 am | Posted By CASANSAAR
Wider acceptance and adoption of digital payments will play a key role towards financial inclusion, according to the Reserve Bank of India’s (RBI’s) recommendation for sustainable financial inclusion during 2019-20.
Along with traditional banking outlets, payments banks, small finance...
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RBI |
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0 | Hits : 754
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CBIC extends waiver of GSTR-1 late fee
Posted Date : 11-Jan-2020 , 10:22:55 am | Posted By CASANSAAR
The Central Board of Excise and Customs (CBIC) extended the last date for waiving late fee on filing of output supplies statements through Form GSTR 1 for the period between July 2017 and November 2019, by a week to January 17.
More than 54 lakh filings under goods and services tax (GST) were rec...
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Category :
GST |
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RBI amends KYC norms, allows banks to use V-CIP
Posted Date : 10-Jan-2020 , 10:21:28 am | Posted By CASANSAAR
The RBI has amended the KYC norms allowing banks and other lending institutions regulated by it to use Video based Customer Identification Process (V-CIP), a move which will help them onboard customers remotely. The V-CIP, which will be consent-based, will make it easier for banks and other regulate...
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RBI |
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0 | Hits : 1046
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CBDT grants relaxation in eligibility conditions for filing of ITR-1 and ITR-4 form
Posted Date : 09-Jan-2020 , 09:25:31 pm | Posted By CASANSAAR
In order to ensure that the e-filing utility for filing of return for assessment year (A.Y) 2020-21 is available as on 1st April, 2020, the Income-tax Return (ITR) Forms ITR-1 (Sahaj) and ITR-4 (Sugam) for the A.Y 2020-21 were notified vide notification dated 3rd January, 2020. In the noti...
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ITR |
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0 | Hits : 917
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SBI announces 'residential builder finance with buyer guarantee' scheme
Posted Date : 09-Jan-2020 , 10:36:15 am | Posted By CASANSAAR
Country's largest public sector bank, State Bank of India has announced a 'residential builder finance with buyer guarantee' (RBBG) scheme. It aims at giving a push to residential sales and improve homebuyers' confidence.
Under this scheme announced yesterday, the SBI will issue a...
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Category :
Banking |
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0 | Hits : 838
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First Express Entry draw of 2020 issues 3,400 invitations to apply for PR
Posted Date : 09-Jan-2020 , 07:49:44 am | Posted By CASANSAAR
Canada’s first Express Entry draw of 2020 has issued 3,400 invitations to apply for Canadian Permanent Residence.
The minimum Comprehensive Ranking System (CRS) score required to receive an invitation in the January 8 draw was 473.
Eligible candidates for each program are issued a score ...
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International Business |
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Tax authorities step up heat on erring businesses with GST Audit
Posted Date : 09-Jan-2020 , 07:13:30 am | Posted By CASANSAAR
Goods and Services Tax (GST) authorities have started audit of businesses for FY18, the year of the indirect tax reform, indicating that erring assessees will now be held accountable for lapses in tax payment and record keeping. GST audits are being initiated as part of the government’s drive ...
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GST |
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0 | Hits : 1881
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CCEA approves strategic disinvestment in MMTC, NMDC
Posted Date : 08-Jan-2020 , 05:58:36 pm | Posted By CASANSAAR
The Cabinet Committee on Economic Affairs (CCEA) has given in-principle approval for strategic disinvestment of 49.78 per cent equity shareholding of Minerals and Metals Trading Corporation Limited and 10.10 per cent of National Mineral Development Corporation.
The CCEA gave approval for strategi...
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General |
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CCI Releases ‘Market Study on E-commerce in India: Key Findings and Observations
Posted Date : 08-Jan-2020 , 05:35:00 pm | Posted By CASANSAAR
The Competition Commission of India (CCI) released a Report titled ‘Market Study on E-commerce in India: Key Findings and Observations’ today, available at:
https://www.cci.gov.in/sites/default/files/whats_newdocument/Market-study-on-e-Commerce-in-India.pdf.
The Market Study on E-com...
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Category :
Corporate Law |
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0 | Hits : 739
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