Private Companies with large borrowings to undergo Secretarial Audit
Posted Date : 07-Jan-2020 , 09:20:05 am | Posted By CASANSAAR
Private companies with total outstanding debt of Rs 100 crore or more to banks and financial institutions will now have to submit a secretarial audit report to the government, according to a rule notified by the corporate affairs ministry on Monday.
Under the previous rules, public companies with...
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ICSI |
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Revenue department unearths IGST refund fraud by top exporters
Posted Date : 07-Jan-2020 , 09:06:20 am | Posted By CASANSAAR
During a crackdown to check the misuse of IGST (Integrated Goods and Service Tax) funds by star exporters, the Central Board of Indirect Taxes (CBIC), through a sample study of 241 cases, has identified at least 9 star export houses that are untraceable and 82 such exporters whose declarations befor...
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GST |
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0 | Hits : 2068
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New legislation for social impact Companies soon
Posted Date : 06-Jan-2020 , 09:38:07 am | Posted By CASANSAAR
The Government is considering a new law for setting up social impact companies, where profits can be distributed among the shareholders.
An official said having such companies would help in attracting private capital towards developmental activities in the country.
The corporate affairs minist...
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Corporate Law |
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0 | Hits : 766
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CBIC uses data analytics to identify risky exporters
Posted Date : 06-Jan-2020 , 09:36:01 am | Posted By CASANSAAR
The Central Board of Indirect Taxes and Customs (CBIC) in its drive to check fraudulent availment of IGST refunds, has extensively used data analytics and matched data with income tax, GST and customs to identify risky exporters. Ongoing investigations have thrown up at least 9-star export houses as...
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GST |
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0 | Hits : 870
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Co-op banks asked to alert RBI about loans over Rs 5 Cr
Posted Date : 05-Jan-2020 , 09:35:16 am | Posted By CASANSAAR
Urban co-operative banks (UCB) will have to send an instant alert to the Reserve Bank of India (RBI) about any loan of more than Rs 5 crore sanctioned, according to a new set of guidelines issued by the central bank last week.
The banks have also been asked restrict half of their loans to amounts...
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Banking |
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0 | Hits : 767
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Best Judgement Assessment under GST
Posted Date : 04-Jan-2020 , 08:45:26 am | Posted By CASANSAAR
Best Judgement Assessment under GST
Best Judgement Assessment by Proper Officer for Defaulters of GST Returns explained by CA. Shilpa Sardana.
https://youtu.be/P963koeRsW4
Dont Forget to Like the video and SUBSCRIBE CA Sansaar YouTube Channel
...
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Category :
GST |
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0 | Hits : 1612
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Bank employees to go on nationwide strike on Jan 8
Posted Date : 04-Jan-2020 , 08:39:10 am | Posted By CASANSAAR
Normal banking services at bank branches and ATMs are likely to be impacted as major bank unions have decided to resort to an all-India general strike on January 8 to protest against the anti-labour policies of the government.
However, net banking services and related transfers will not be affect...
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Category :
Banking |
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0 | Hits : 1130
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E-commerce cos may get to upload GST e-invoice for vendors
Posted Date : 04-Jan-2020 , 08:35:47 am | Posted By CASANSAAR
In a significant relaxation for the ecommerce sector, the government could allow online platforms such as Amazon and Flipkart to upload e-invoice for vendors under the goods and services tax (GST) framework.
As part of ongoing trials of e-invoicing, a detailed set of clarifications in the f...
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GST |
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0 | Hits : 856
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CBDT extends deadline for compounding of income tax offences till Jan 31
Posted Date : 04-Jan-2020 , 08:28:07 am | Posted By CASANSAAR
The CBDT has extended till January 31 the last date for taxpayers to avail a "one-time" facility to apply for compounding of income tax offences, an order issued on Friday said.
The earlier deadline was December 31, 2019.
In I-T parlance, compounding means that the taxman does not fi...
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Category :
Income Tax |
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0 | Hits : 2775
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SEBI issues new framework for core settlement guarantee fund, non-defaulting members
Posted Date : 04-Jan-2020 , 08:23:29 am | Posted By CASANSAAR
Markets regulator Sebi on Friday came out with a new framework for core settlement guarantee fund and liability of non-defaulting members of clearing corporations.
The move has been taken following deliberations made by Sebi's risk management review committee and various stakeholders.
A co...
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SEBI |
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0 | Hits : 795
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AI, data analytics to track GST evaders, boost compliance
Posted Date : 03-Jan-2020 , 08:59:13 am | Posted By CASANSAAR
The government plans to increase the use of artificial intelligence and data analytics to track down tax evaders, and improve compliance with the Goods and Service Tax in order to augment revenue.
Top tax officials are scheduled to participate in a brainstorming session to be chaired by revenue s...
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Category :
GST |
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0 | Hits : 810
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RBI announces special OMO of Rs 10,000 Cr on Jan 6
Posted Date : 03-Jan-2020 , 08:55:33 am | Posted By CASANSAAR
The Reserve Bank on Monday will carry a special simultaneous open market operation to buy and sell government bonds of Rs 10,000 crore each.
"On a review of the current liquidity and market situation and an assessment of the evolving financial conditions, the Reserve Bank has decided to cond...
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RBI |
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0 | Hits : 795
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Procedure to revise TDS Return
Posted Date : 03-Jan-2020 , 08:44:22 am | Posted By CASANSAAR
Procedure to revise TDS Return
Step by Step Procedure to revise TDS Return explained by CA. Shivangi Mittal.
Watch this video to know more
https://youtu.be/91UI5hWiFKg
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Category :
TDS |
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0 | Hits : 2323
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नए साल से GSTR 1 में ना करें ये भूल
Posted Date : 02-Jan-2020 , 09:49:55 am | Posted By CASANSAAR
नए साल से GSTR 1 में ना करें ये भूल.
Issues in GSTR-1 explained by CA.Rahul Jain.
https://youtu.be/I2APflqs7yk
*Don't forget to Subscribe CA Sansaar YouTube Channel*
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Category :
GST |
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0 | Hits : 1234
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CBDT to fine businesses Rs 5,000/day for not using digital payment facilities
Posted Date : 02-Jan-2020 , 09:43:58 am | Posted By CASANSAAR
From February 1, businesses will be fined Rs 5,000 per day if they fail to accept payments through digital payment facilities, the Central Board of Direct Taxes (CBDT) said in a circular dated December 30. This will be applicable to companies with an annual turnover of over Rs 50 crore.
The move ...
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CBDT |
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Last date for payment of Membership and COP fee extended - ICAI
Posted Date : 02-Jan-2020 , 09:16:11 am | Posted By CASANSAAR
Important Announcement
It has been decided to extend the last date for payment of Membership /COP fee for the year 2019-20 up to 31st January 2020. It has been further decided to waive off con-donation fee on delay of filing of application forms related to Members, Firms and Students, if respec...
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ICAI |
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0 | Hits : 1137
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RBI extends NBFC securitization relaxations till 30 June
Posted Date : 01-Jan-2020 , 07:55:40 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) has extended, for another six months, existing relaxations for securitization of assets by non-banking financial companies (NBFCs). The move is expected to provide NBFCs with some more breathing space to repair their broken balance-sheets by selling assets and improvi...
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RBI |
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0 | Hits : 895
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GST collections touch Rs 1.03 lakh Cr in December 2019
Posted Date : 01-Jan-2020 , 07:36:50 pm | Posted By CASANSAAR
Indian economy began the new year on a positive note with the gross GST revenue collections for the December coming in at Rs 1,03,184 crore. This is the second straight month when GST collections surpassed the Rs 1 lakh crore mark, raising hopes that the economy may have bottomed out from the slowdo...
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Category :
GST |
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0 | Hits : 1095
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Cooperative banks will need RBI approval for CEO appointment
Posted Date : 01-Jan-2020 , 11:33:44 am | Posted By CASANSAAR
In an attempt to strengthen its supervisory control over the Urban co-operative banks (UCBs) the Reserve Bank on Friday said that UCBs with deposit base over Rs 100 crore will require prior approval of RBI for appointment of their CEOs.
After capping lending to a single borrower and raising the p...
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RBI |
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0 | Hits : 1418
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DHFL creditors claim more than Rs.87,000 Cr under IBC process
Posted Date : 31-Dec-2019 , 08:57:50 am | Posted By CASANSAAR
Lenders, bondholders, employees and other creditors to Dewan Housing Finance Corp. Ltd (DHFL) have claimed dues of Rs.87,905.6 crore under the insolvency resolution process, showed data on the debt-laden shadow lender’s website.
This does not include holders of fixed deposits (FD), to whom ...
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Category :
Corporate Law |
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0 | Hits : 911
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Extension of Last Date for complying with the CPE hours requirement
Posted Date : 31-Dec-2019 , 08:50:21 am | Posted By CASANSAAR
Extension of last date “for complying with the CPE hours requirement for the Calendar Year 2019 and for the block period 2017-2019” – from 31st December, 2019 to 31st January, 2020
We may inform you that it has been decided to extend the last date for compliance of CPE hou...
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Category :
ICAI |
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0 | Hits : 2877
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PAN-Aadhaar linking deadline extended to 31st March 2020 - CBDT
Posted Date : 30-Dec-2019 , 09:38:58 pm | Posted By CASANSAAR
The last date for the mandatory linking of the Permanent Account Number (PAN) with Aadhaar has been extended till March next year, the CBDT said on Monday.
The earlier deadline was Tuesday, December 31.
"The due date for linking of PAN with Aadhaar as specified under sub-section 2 of sect...
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PAN |
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Rs 1,12,000 crore paid as IGST refunds to exporters - CBIC
Posted Date : 30-Dec-2019 , 09:36:27 pm | Posted By CASANSAAR
Central Board of Indirect Taxes and Customs, CBIC has said that over 1,12,000 crore rupees have been paid as Integrated Goods and Services Tax-IGST refunds to exporters.
In a statement, CBIC said, over 83,000 exporters have been benefited by these refunds. It said, this shows the government&rsquo...
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Category :
GST |
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0 | Hits : 742
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SBI cuts external benchmark-based rate by 25 bps
Posted Date : 30-Dec-2019 , 06:00:32 pm | Posted By CASANSAAR
The country's largest lender, State Bank of India, today announced a reduction in its external benchmark-based rate by 25 basis points to 7.80 per cent from 8.05 per cent.The Reserve Bank of India has adopted the Repo rate to be the External Benchmark rate. And the Repo rate is the interest rate...
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Category :
Banking |
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0 | Hits : 770
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RBI blasts credit rating agencies for allowing rating shopping to large borrowers
Posted Date : 30-Dec-2019 , 09:05:50 am | Posted By CASANSAAR
After getting it badly from markets watchdog Sebi, credit rating agencies (CRAs) whose role in the bad loan implosion has been under scrutiny for years now, the Reserve Bank has blasted them for allowing low-rated companies to do "rating shopping".
It can be noted that rating agencies h...
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RBI |
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0 | Hits : 987
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Close to half of claims under IBC were settled in FY19 - RBI
Posted Date : 30-Dec-2019 , 08:59:47 am | Posted By CASANSAAR
Around half of the claims under the Insolvency and Bankruptcy Code (IBC) were settled in 2018-19, the latest RBI report showed, helping banks recover stressed assets more quickly.
As a percentage of claims, banks recovered on average 42.5% of the amount filed through the IBC in the financial year...
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RBI |
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0 | Hits : 741
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SBI to launch OTP-based ATM cash withdrawal from Jan 1
Posted Date : 28-Dec-2019 , 10:39:41 am | Posted By CASANSAAR
From January, SBI customers will be able to make ATM withdrawal above Rs 10,000 only after an OTP verification during 8 PM to 8 AM. The OTP-validated ATM transaction has been introduced to minimise the number of unauthorised transactions, State Bank of India (SBI) said in a Facebook post on Thursday...
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RBI |
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0 | Hits : 885
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Record immigration drives Nova Scotia’s population to all-time high
Posted Date : 28-Dec-2019 , 10:19:16 am | Posted By CASANSAAR
Nova Scotia is seeing record-breaking population growth thanks to immigrants and interprovincial migrants.
Statistics Canada estimates show the Atlantic Province’s population grew by 12,339 residents between October 1, 2018 and October 1, 2019. This includes 7,165 immigrants who came to Nov...
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Category :
International Business |
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0 | Hits : 816
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MCA plans to introduce frequent filing for large unlisted companies
Posted Date : 28-Dec-2019 , 09:43:12 am | Posted By CASANSAAR
The Ministry of Corporate Affairs (MCA) is planning an amendment to the Companies Act that will mandate large unlisted companies to file as frequently as listed ones, The Times of India reported.
The companies are, at present, required to file annual reports.Moneycontrol could not independently v...
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MCA |
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0 | Hits : 970
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RBI directs large co-op banks to report exposures above Rs 5 Cr
Posted Date : 28-Dec-2019 , 09:39:47 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has directed large cooperative banks to report all exposures of 5 crore rupees and more to the Central Repository of Information on Large Credits (CRILC). The move is aimed at early detection of financial distress.
The Reserve Bank has created a CRILC of commercial...
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RBI |
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0 | Hits : 928
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