CBDT notifies PAN-Aadhaar interchangeability
Posted Date : 08-Nov-2019 , 09:26:24 am | Posted By CASANSAAR
The apex body for direct taxes has amended over 100 forms and returns to provide for interchangeability between permanent account number (PAN) and Aadhaar number.
A notification to this effect was issued by the Central Board of Direct Taxes on Thursday.
The Union Budget presented in July had a...
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CBDT |
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DIN System of CBIC comes into existence from today
Posted Date : 08-Nov-2019 , 09:19:42 am | Posted By CASANSAAR
The Documentation Identification Number (DIN) system of Central Board of Indirect Taxes (CBIC) will come into existence from today. This path breaking system in indirect tax administration has been created as per the direction of Finance Minister Nirmala Sitharaman. Now, any CBIC communication will ...
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GST |
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Flipkart gets stay on insolvency proceedings initiated against it at NCLT
Posted Date : 07-Nov-2019 , 08:13:58 am | Posted By CASANSAAR
Online sales platform Flipkart has got a stay order on insolvency proceedings initiated against it at the National Company Law Tribunal (NCLT), in a case involving alleged withholding of dues to a seller.
CloudWalker Streaming, a Mumbai-based supplier of LED TVs, alleged Flipkart did not honour a...
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Insolvent Professional |
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RBI panel proposes stricter rules for core investment companies
Posted Date : 07-Nov-2019 , 08:12:26 am | Posted By CASANSAAR
Core investment companies (CICs) will have to form board level committees, appoint independent directors and conduct internal audits, if the Reserve Bank of India (RBI) decides to accept the recommendations of a working group formed to improve their corporate governance standards.
The recommendat...
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RBI |
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Govt to issue new rules to bring NBFCs under IBC
Posted Date : 07-Nov-2019 , 08:01:18 am | Posted By CASANSAAR
The fear that at Dewan Housing Finance Corporation (DHFL) may spill over to other non-banking finance companies (NBFC) has pushed the government to introduce fresh rules and regulations to bring even the financial sector under the purview the Insolvency and Bankruptcy Code (IBC).
A government sou...
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Insolvent Professional |
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FM announces special window to complete stalled real estate projects
Posted Date : 07-Nov-2019 , 07:55:06 am | Posted By CASANSAAR
The Cabinet has approved establishment of a 'Special Window' to provide priority debt financing for completion of stalled housing projects in the Affordable and Middle-Income Housing sector.
Briefing media after the Cabinet meeting, Finance Minister Nirmala Sitharaman said a Fund has been...
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Finance |
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Quebec needs 80,000 immigrants per year, not 50,000
Posted Date : 06-Nov-2019 , 04:13:54 pm | Posted By CASANSAAR
To sustain a strong economy, Quebec needs almost twice as many immigrants as it is currently targeting.
In recent years, Canada’s second-largest province has welcomed around 50,000 immigrants annually, ranking second behind Ontario.
On a per capita basis, however, Quebec’s ne...
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International Business |
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HC allows taxpayers to avail disputed pre-GST tax credits
Posted Date : 06-Nov-2019 , 11:07:53 am | Posted By CASANSAAR
An order from the Punjab and Haryana High Court has paved the way for carry forward of CENVAT credit and VAT input credits to the Goods and Services Tax (GST) regime for taxpayers who could not do so due to non-filing or incorrect filing of claims. While this order may be good news for thousands of ...
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GST |
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SEBI issues circular on Aadhaar e-KYC for investors
Posted Date : 06-Nov-2019 , 11:01:48 am | Posted By CASANSAAR
Sebi on Tuesday issued a detailed circular regarding the process to be followed for Aadhaar-based electronic KYC exercise for domestic investors.
The circular mentions about the requirements to be fulfilled by entities registered with the UIDAI as KYC User Agency (KUA) as well as for sub-KUA.
...
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SEBI |
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RBI issues compensation norms for foreign, private banks
Posted Date : 05-Nov-2019 , 10:25:50 am | Posted By CASANSAAR
The Reserve Bank of India has issued compensation guidelines for whole-time directors and chief executives of foreign, private, small finance, payments banks and local area banks, mandating the cash component of variable pay at 67 per cent.
The RBI said if the variable pay is up to 200 per cent o...
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RBI |
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Over 3,400 branches of 26 public sector banks closed or merged in last 5 years
Posted Date : 05-Nov-2019 , 09:01:06 am | Posted By CASANSAAR
Over 3,400 branches of 26 public sector banks (PSBs) have been either closed or merged during the last five financial years due to merger under the consolidation exercise in the banking space, revealed an RTI query.
Of this, 75 per cent of the affected branches belong to the country's biggest...
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Banking |
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SEBI issues clarifications on prohibition of insider trade regulations
Posted Date : 05-Nov-2019 , 08:55:54 am | Posted By CASANSAAR
Listed Indian firms' employees, including foreign nationals, are required to follow the code of conduct while trading in American Depositories Receipts and Global Depositories Receipts, capital market regulator Sebi said on Monday.
Trading in such depository receipts is covered under the Proh...
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Category :
Income Tax |
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Income Tax department to issue PAN instantly online
Posted Date : 05-Nov-2019 , 08:50:09 am | Posted By CASANSAAR
The income tax department is set to launch a facility to instantly issue permanent account number (PAN) online, using details available in the Aadhaar database, helping end the wait time for applicants. Sources told TOI the service would be launched over the next few weeks and would also help those ...
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Income Tax |
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MCA recommends fraud probe against DHFL
Posted Date : 04-Nov-2019 , 10:07:02 am | Posted By CASANSAAR
In mounting trouble for the debt ridden Dewan Housing Finance Ltd (DHFL) the Ministry of Corporate Affairs (MCA) has recommended fraud probe against the Non Banking Finance Company (NBFC), said a government official.
This comes after a report by Registrar of Companies (ROC), Mumbai's initial ...
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MCA |
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Three banks report NPA divergence a day after SEBI directive
Posted Date : 03-Nov-2019 , 08:38:17 am | Posted By CASANSAAR
A day after market regulator Sebi put in place tighter disclosure norms, Lakshmi Vilas Bank and two other lenders on Friday reported divergence in their bad loans for the last fiscal ended March 2019.
Sebi on Thursday had directed all listed banks to disclose any divergence in bad loan provisioni...
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SEBI |
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Quebec announced new quotas for Entrepreneur, Self-Employed Worker programs
Posted Date : 02-Nov-2019 , 03:42:17 pm | Posted By CASANSAAR
Quebec announced new quotas for its Entrepreneur and Self-Employed Worker programs for those who do not have a high level of French. There is no quota for those who can demonstrate an advanced intermediate level of oral French expression and comprehension.
The province will accept 25 applications...
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Income Tax |
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Saskatchewan invites 858 Express Entry and Occupation In-Demand candidates
Posted Date : 02-Nov-2019 , 03:41:35 pm | Posted By CASANSAAR
Saskatchewan ended October with another big draw for immigration candidates in its Express Entry and Occupation In-Demand sub-categories.
The 858 invitations issued October 31 continued a six-week string of major draws through these popular Saskatchewan Immigrant Nominee Program (SINP) path...
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International Business |
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Quebec suspends immigrant investor program until July 2020
Posted Date : 02-Nov-2019 , 03:21:57 pm | Posted By CASANSAAR
The Quebec Immigrant Investor Program, which allows investors to obtain Canadian permanent residence with a $1.2 million investment, has been suspended until July 1, 2020.
The suspension takes effect Friday, November 1, 2019.
Quebec’s Immigration Minister, Simon Jolin-Barrette, att...
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International Business |
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0 | Hits : 799
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MCA asks disqualified directors to ensure compliance or face action
Posted Date : 02-Nov-2019 , 09:33:41 am | Posted By CASANSAAR
The corporate affairs ministry has asked disqualified directors to file their pending statutory returns and ensure compliance or else face regulatory action. As part of larger crackdown on companies suspected to be shell entities, the ministry had disqualified many individuals from holding directors...
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MCA |
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Rs 95,380 crore gross GST Revenue collected in October
Posted Date : 01-Nov-2019 , 03:57:43 pm | Posted By CASANSAAR
The gross GST revenue collected in the month of October, 2019 is ₹ 95,380 crore of which CGST is ₹ 17,582 crore, SGST is ₹ 23,674 crore, IGST is ₹ 46,517 crore (including ₹ 21,446 crore collected on imports) and Cess is ₹ 7,607 crore (including ₹ 774 crore collected on imports). The to...
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GST |
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Credit and Debit card details of 13 lakh Indians on sale
Posted Date : 01-Nov-2019 , 09:09:03 am | Posted By CASANSAAR
Earlier in the day, reports of a debit and credit card detail selling online came up, revealing a massive risk of privacy on 13 lakh Indian credit and debit card users. Now the Reserve Bank of India(RBI) has swung into action in order to safeguard the interest of these affected Indian customers.
...
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Banking |
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SEBI tightens norms for public Banks on bad loan disclosures
Posted Date : 01-Nov-2019 , 09:05:35 am | Posted By CASANSAAR
Putting in place a stricter framework, Sebi on Thursday directed all listed banks to disclose any divergence in bad loan provisioning within 24 hours of receiving RBI's risk assessment report, rather than waiting to publish the details in their annual financial statements.
In recent months, t...
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SEBI |
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Canada’s largest Province Quebec introduces Values Test for Immigrants
Posted Date : 31-Oct-2019 , 12:22:42 pm | Posted By CASANSAAR
Quebec will require immigrants seeking permanent residency in the Canadian province to pass a "values" test to ensure they understand its new secularism law, the provincial government said on Wednesday.
The test is being implemented by Premier François Legault's Coalition d&#...
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International Business |
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Gold amnesty scheme might be announced soon
Posted Date : 31-Oct-2019 , 09:06:01 am | Posted By CASANSAAR
The government may soon announce an amnesty scheme for gold to bring hordes of black money used in buying the yellow metal considered a safe investment option in India.
According to sources, the new amnesty scheme would allow gold hoarders to come clean on investment made using black money by dec...
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Category :
Income Tax |
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RBI imposes fine on Janata Sahakari Bank & Jalgaon Peoples Co-operative Bank
Posted Date : 30-Oct-2019 , 01:15:22 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) has imposed a fine of Rs 1 crore on Pune-based Janata Sahakari Bank and Rs 25 lakh on Jalgaon Peoples Co-operative Bank for violating income recognition, advances management and asset classification norms.
The central bank said in a release today that the penalty h...
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RBI |
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PFRDA permitted now Overseas Citizen of India to enroll in NPS at par with Non-Resident Indians
Posted Date : 30-Oct-2019 , 01:05:34 pm | Posted By CASANSAAR
Pension Fund Regulatory and Development Authority (PFRDA) has now permitted Overseas Citizen of India (OCI) to enroll in National Pension Scheme (NPS) at par with Non-Resident Indians vide Circular No: PFRDA/2019/19/PDES/3 dated 29th October 2019. The Government vide notification S.O. 3732(E) dated ...
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General |
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RBI Imposes Rs.1 Crore Penalty On Bandhan Bank
Posted Date : 30-Oct-2019 , 08:23:04 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Tuesday imposed a penalty of Rs. 1 crore on Bandhan Bank for not bringing down the promoter shareholding to 40 per cent. Bandhan MFI had obtained in-principle universal banking license from the central bank in 2014 and started full-fledged operations as a bank from...
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Banking |
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Justice Sharad Arvind Bobde appointed next Chief Justice of India
Posted Date : 29-Oct-2019 , 12:20:57 pm | Posted By CASANSAAR
President Ram Nath Kovind on October 29 signed a warrant to appoint Justice Sharad A. Bobde as the next Chief Justice of India (CJI).
He will take oath and charge as the next CJI on November 18. His term will extend until April 2021.
...
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General |
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Government starts hiring process for NFRA
Posted Date : 29-Oct-2019 , 10:43:11 am | Posted By CASANSAAR
The Government has started process to hire people for the National Financial Reporting Authority (NFRA), a senior official said.
The independent watchdog for the auditing profession is looking into alleged accounting issues at IL&FS and Infosys, following directives from the government.
Th...
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NFRA |
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Income Tax notices can be sent to old address - SC
Posted Date : 29-Oct-2019 , 10:36:38 am | Posted By CASANSAAR
If you have not updated the address in the PAN (Permanent Account Number) database, then the Income Tax Department has every right to send any notice at your old address and complete the assessment accordingly.
In an important judgement recently, the Supreme Court has made it clear that the notic...
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Income Tax |
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