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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 | Comments : 0 | Hits : 763

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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Category : RBI | Comments : 0 | Hits : 75

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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Category : CA | Comments : 0 | Hits : 3468

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 | Comments : 0 | Hits : 514

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 | Comments : 0 | Hits : 1644

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 | Comments : 0 | Hits : 264

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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Category : RBI | Comments : 0 | Hits : 207

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 | Comments : 0 | Hits : 275

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 | Comments : 0 | Hits : 536

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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Category : GST | Comments : 0 | Hits : 694

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 | Comments : 0 | Hits : 527

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 | Comments : 0 | Hits : 601

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 | Comments : 0 | Hits : 302

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 | Comments : 0 | Hits : 283

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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Category : CBDT | Comments : 0 | Hits : 341

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 | Comments : 0 | Hits : 672

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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Category : GST | Comments : 0 | Hits : 2150

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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Category : CA Exams | Comments : 0 | Hits : 1867

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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Category : GST | Comments : 0 | Hits : 250

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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Category : Budget | Comments : 0 | Hits : 1094

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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Category : GST | Comments : 0 | Hits : 528

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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Category : Budget | Comments : 0 | Hits : 158

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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Category : CBDT | Comments : 0 | Hits : 676

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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Category : Income Tax | Comments : 0 | Hits : 278

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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Category : Budget | Comments : 0 | Hits : 351

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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Category : Budget | Comments : 0 | Hits : 101

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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Category : Budget | Comments : 0 | Hits : 50

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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Category : GST | Comments : 0 | Hits : 247

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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Category : Budget | Comments : 0 | Hits : 42

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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Category : Budget | Comments : 0 | Hits : 38

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