Auditors will have to file annual reports to NFRA
Posted Date : 04-Sep-2019 , 08:31:10 am | Posted By CASANSAAR
Auditors of companies overseen by the National Financial Reporting Authority (NFRA) will need to disclose their findings separately as the government looks to address audit-related concerns and step up transparency.
The government is set to notify a new form that will require auditors to fi...
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NFRA |
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CBDT constitutes startup cell to address various tax grievances
Posted Date : 04-Sep-2019 , 08:27:44 am | Posted By CASANSAAR
In order to further dispel the fears surrounding the Angel Tax for startups, the Central Board of Direct Taxes (CBDT) has constituted a startup cell to redress grievances and address various tax related issues. It also has the provision to file these grievances online. The body also reiterated the m...
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CBDT |
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0 | Hits : 841
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RBI's task force recommends moves to ease credit markets
Posted Date : 04-Sep-2019 , 08:25:31 am | Posted By CASANSAAR
A task force set up by India's central bank on Tuesday recommended a slew of measures for developing a secondary market for corporate loans, including easing of regulations to allow foreign portfolio investors (FPIs) to directly purchase distressed loans from banks.
These moves are aimed at d...
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RBI |
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0 | Hits : 822
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Cabinet approves Infusion of capital by Government in IDBI Bank
Posted Date : 04-Sep-2019 , 08:12:31 am | Posted By CASANSAAR
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the Infusion of Rs 4,557 crore by Government in IDBI Bank.
It will help in completing the process of IDBI Bank’s turnaround and enable it to return to profitability and normal lending, and giving Governmen...
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Banking |
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0 | Hits : 799
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MCA sets up expert committee for valuation professionals
Posted Date : 03-Sep-2019 , 09:44:47 am | Posted By CASANSAAR
The Corporate Affairs Ministry (MCA) has set up a eight member 'Committee of Experts' to examine the need for an institutional framework for regulation and development of valuation professionals. The Panel would be headed by IBBI Chairman M S Sahoo.
It would also cover the regulatory arch...
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MCA |
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0 | Hits : 2281
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PAN will be generated automatically if taxpayer uses Aadhaar for filing returns
Posted Date : 03-Sep-2019 , 09:41:26 am | Posted By CASANSAAR
The Income Tax Department will automatically issue PAN to a taxpayer using Aadhaar number for filing returns as part of a new arrangement to link the two databases.
According to a notification issued by the CBDT on August 30, a person who furnishes Aadhaar, as they do not have PAN, “shall b...
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Category :
Income Tax |
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0 | Hits : 1673
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CBDT consolidates Circulars for ease of compliance of Start-ups
Posted Date : 03-Sep-2019 , 09:33:57 am | Posted By CASANSAAR
In order to provide hassle-free tax environment to the Start-ups, a series of announcements have been made by Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman in her General Budget Speech, 2019, and also on 23rd August 2019. To give effect to these announcements, the Central Bo...
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CBDT |
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0 | Hits : 950
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GST collection slips below Rs 1 Lakh Cr mark to Rs 98,202 Cr in August
Posted Date : 02-Sep-2019 , 07:31:47 am | Posted By CASANSAAR
In another indicator of economic slowdown, GST collection in the month of August dropped below Rs 1 lakh crore mark to Rs 98,202 crore. The tax collection was at Rs 1.02 lakh crore in July this year. The August mop-up was, however, 4.5 per cent higher than the Rs 93,960 crore collected in the same m...
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GST |
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0 | Hits : 1502
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Income tax dept creates world record with filing of 49 lakh ITRs in one day
Posted Date : 02-Sep-2019 , 07:28:48 am | Posted By CASANSAAR
Income Tax department today said it created a sort of world record by achieving a record Income Tax Return filing in a single day.
"The department made a history with an all time high record of 49 lakh 29 thousand ITRs filed in a single day on August 31," Central Board of Direct T...
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ITR |
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0 | Hits : 1095
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RBI extends deadline for PPIs to become full KYC complaint
Posted Date : 31-Aug-2019 , 10:50:09 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Friday extended the timeline for the conversion of minimum detail Prepaid Payment Instruments to KYC-compliant PPIs from 18 months to 24 months, a move welcomed players in the segment.
The Payments Council of India (PCI) which represents the players in the payme...
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RBI |
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0 | Hits : 845
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PMO seeks litigation withdrawal update from CBDT
Posted Date : 31-Aug-2019 , 10:47:01 am | Posted By CASANSAAR
The PMO has sought an update from the CBDT about the number of appeals it has withdrawn from various courts after a direction was recently issued to enhance monetary limits for filling appeals in various legal forums in order to reduce litigation between the Income-Tax department and the taxpayers.
...
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CBDT |
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0 | Hits : 861
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ITR filing deadline not extended again, clarifies tax department
Posted Date : 31-Aug-2019 , 10:43:30 am | Posted By CASANSAAR
The income tax department has said that an order circulating on social media about extension of income tax filing deadline is not genuine. "It has come to the notice of CBDT that an order is being circulated on social media pertaining to extension of due date for filing of IT Returns. It is cat...
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Income Tax |
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0 | Hits : 842
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Govt announces mega merger of public sector banks
Posted Date : 31-Aug-2019 , 10:35:01 am | Posted By CASANSAAR
The government has announced the merger of ten public sector banks into four banks. It announced the merger of Oriental Bank of Commerce and United Bank with Punjab National Bank as well as the merger of Canara Bank and Syndicate Bank.
The merger of Union Bank of India, Andhra Bank and Corporatio...
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Banking |
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0 | Hits : 842
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Govt extends CBDT Chairman Mody’s tenure by 1 year
Posted Date : 30-Aug-2019 , 09:30:32 am | Posted By CASANSAAR
The tenure of Central Board of Direct Taxes (CBDT) Chairman Pramod Chandra Mody has been extended by an year, a government order said on Thursday.
According to the order, the Appointments Committee of the Cabinet (ACC), headed by Prime Minister Narendra Modi, has approved “re-appointment&rd...
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CBDT |
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0 | Hits : 1193
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Bank frauds jump 74% To Rs.71,543 Cr in 2018-19 - RBI
Posted Date : 29-Aug-2019 , 09:26:14 pm | Posted By CASANSAAR
Frauds in the banking system shot up by 74 per cent to Rs. 71,543 crore in financial year 2018-19 compared with frauds worth Rs. 41,167 crore committed in the financial year 2017-18, the Reserve Bank of India said in its annual report on Thursday. The average lag between the date of occurrence of fr...
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RBI |
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0 | Hits : 1032
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Formation and Taxation of NPOs and Private Trusts - Questions and Answers
Posted Date : 29-Aug-2019 , 10:09:55 am | Posted By CASANSAAR
Video on Formation and Taxation of NPOs and Private Trusts - Questions and Answers by
CA Anil Agarwal,
CA Mani Jain,
CA Mansi Vohra.
...
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Corporate Law |
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0 | Hits : 986
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ICAI relaxes mandatory 8 month study period for CA students
Posted Date : 29-Aug-2019 , 09:58:01 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India has decided to relax the mandatory study period for the CA students. The students are supposed to complete an eight-month study period in order for the students to appear for the intermediate examination after completing the CA foundation exam.
...
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ICAI |
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0 | Hits : 1452
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Govt notifies 63 provisions of Motor Vehicles Act; implementation from Sep 1
Posted Date : 29-Aug-2019 , 09:51:31 am | Posted By CASANSAAR
Government has notified 63 provisions of the Motor Vehicles Amendment Act 2019 including the ones dealing with enhanced penalties for various traffic offences. The new clauses will come into effect from 1st of next month.
In a statement, Road Transport and Highways Ministry said, these are provis...
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Category :
General |
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0 | Hits : 889
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CBDT clarifies differential regime between domestic investors (including AIF category III) and FPIs
Posted Date : 28-Aug-2019 , 09:00:53 pm | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) said today that an incorrect perception is being created in a section of media as if announcements made by Smt. Nirmala Sitharaman, Union Minister of Finance & Corporate Affairs, in a press conference on 23rd August 2019, which brought in a number of resp...
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CBDT |
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0 | Hits : 846
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Govt permits 100% FDI in coal mining, associated infrastructure
Posted Date : 28-Aug-2019 , 08:58:43 pm | Posted By CASANSAAR
The Union Cabinet has relaxed Foreign Direct Investment rule for foreign single-brand retailers and also permitted foreign investment in contract manufacturing and coal mining.
Briefing reporters after the Union Cabinet meeting in New Delhi, Commerce and Industry Minister Piyush Goyal said ...
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Finance |
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0 | Hits : 667
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SEBI may tighten asset valuation norms for mutual funds
Posted Date : 28-Aug-2019 , 09:17:51 am | Posted By CASANSAAR
Market regulator Securities and Exchange Board of India (Sebi) hinted on Tuesday that it may tighten existing asset valuation norms, which guide mutual fund investments to shield investors from risks of capital erosion in debt-oriented mutual funds and to protect asset management companies (AMCs) fr...
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SEBI |
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0 | Hits : 843
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CBDT clarifications on Income Tax return bring relief to NRIs
Posted Date : 28-Aug-2019 , 09:14:08 am | Posted By CASANSAAR
Non-residents will not need to disclose their directorships in foreign companies that do not generate any income from India in their tax return forms, the Central Board of Direct Taxes has said.
The apex direct taxes body on Tuesday issued a set of fresh clarifications for filing of income ...
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CBDT |
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0 | Hits : 1631
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Give Amrapali case forensic audit report to ED, Delhi police, ICAI - SC
Posted Date : 27-Aug-2019 , 08:57:31 am | Posted By CASANSAAR
The Supreme Court on Monday directed that a forensic audit report of Amrapali group be given to the Enforcement Directorate (ED), Delhi Police and the Institute of Chartered Accountants in India (ICAI) for taking appropriate action against the company directors and auditors for allegedly siphoning o...
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ICAI |
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0 | Hits : 1048
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RBI to transfer Rs.1.76 lakh Cr to Government
Posted Date : 26-Aug-2019 , 09:59:08 pm | Posted By CASANSAAR
The Central Board of the Reserve Bank of India on Monday decided to transfer a sum of Rs.1,76,051 crore to the Government of India comprising Rs.1,23,414 crore of surplus for the year 2018-19 and Rs.52,637 crore of excess provisions identified as per the revised Economic Capital Framework (ECF) adop...
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RBI |
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0 | Hits : 874
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Govt extends last date for furnishing of annual return in form GSTR 9 / 9A / 9C
Posted Date : 26-Aug-2019 , 09:55:23 pm | Posted By CASANSAAR
The Government has extended the last date for furnishing of annual return in form GSTR-9 or form GSTR-9A and reconciliation statement in FORM GSTR-9C for the financial year 2017-18 to 30th November 2019.
The last date for filing return was 31st of this month.
...
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GST |
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0 | Hits : 1157
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CBIC compulsorily retired another 22 senior officers over corruption, other charges
Posted Date : 26-Aug-2019 , 04:31:30 pm | Posted By CASANSAAR
The Central Board of Indirect Taxes and Customs(CBIC) has compulsorily retired 22 senior officers of the rank of Superintendent/A.O. over corruption and other charges. Sources said, the decision is in line with Prime Minister Narendra Modi's Independence Day speech recently.
Addressing ...
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General |
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0 | Hits : 810
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NCLT starts insolvency proceedings against Today Homes Noida
Posted Date : 26-Aug-2019 , 08:12:20 am | Posted By CASANSAAR
The NCLT has initiated insolvency proceedings against NCR-based real estate firm Today Homes Noida Ltd on a petition filed by a group of homebuyers. A two-member NCLT bench, headed by President Justice M M Kumar, has appointed an interim resolution professional (IRP) to take over the management of t...
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Category :
Insolvent Professional |
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0 | Hits : 829
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CVC sets up panel to examine bank fraud above Rs 50 Cr
Posted Date : 26-Aug-2019 , 08:01:23 am | Posted By CASANSAAR
The Central Vigilance Commission (CVC) has constituted Advisory Board for Banking Frauds (ABBF) headed by former Vigilance Commissioner T M Bhasin to examine bank fraud over Rs 50 crore and recommend action.
The panel in its previous avatar called the Advisory Board on Bank, Commercial and Financ...
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Banking |
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0 | Hits : 857
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GST filing process to become easier, number of forms to be reduced
Posted Date : 24-Aug-2019 , 10:23:32 am | Posted By CASANSAAR
Finance Minister Nirmala Sitharaman on August 23 said that the government is working to make goods and services tax (GST) filing simpler.
Announcing a slew of measures to boost the economy, Sitharaman said GST filings would have fewer forms to make the process much easier.
GST launched on July...
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GST |
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0 | Hits : 1062
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All pending GST refunds for MSMEs to be paid within 30 days - FM
Posted Date : 24-Aug-2019 , 10:05:04 am | Posted By CASANSAAR
To ease GST related woes for the MSME sector the Finance Minister Nirmala Sitharaman has announced that all pending GST refunds will be paid within 30 days. Further, all future GST refunds will be sorted out in 60 days, she said.
This will ease the working capital burden on MSMEs, the FM ho...
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GST |
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0 | Hits : 1153
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