Govt withdraws higher surcharge tax on FPIs and domestic investors
Posted Date : 23-Aug-2019 , 07:59:03 pm | Posted By CASANSAAR
Union Finance Minister Nirmala Sitharaman on Friday announced a slew of measures trying to pump-prime the economy and assuage concerns of investors as well as corporates arising out of higher taxes and also tax review cases, even as she made a push to reverse the auto sector slowdown.
The F...
Continue Reading...
Category :
Finance |
Comments :
0 | Hits : 800
|
 |
Revised threshold limits for appeals by I-T department to apply in all pending cases
Posted Date : 23-Aug-2019 , 09:26:55 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) in an internal notice sent to high ranking I-T officials has clarified that the revised monetary limits of filing of appeals by the tax authorities before the tax tribunals and courts, will also apply to all pending cases.
TOI in its edition of August 9, h...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1029
|
|
Former Auditors of IL&FS move Bombay HC against govt plea for 5-year ban
Posted Date : 23-Aug-2019 , 09:23:25 am | Posted By CASANSAAR
former auditor of IL&FS group, BSR & Associates, has approached Bombay high court to challenge the constitutional validity of provisions of the Companies Act being invoked by the ministry of corporate affairs (MCA) in its attempt to ban it for five years.
In June MCA had petitioned Nation...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 884
|
|
Govt gives businesses four months to settle indirect tax disputes
Posted Date : 23-Aug-2019 , 09:12:48 am | Posted By CASANSAAR
Businesses can now settle their pending disputes relating to central excise duty and service tax within four months starting 1 September under the terms notified by the government on Thursday.
The finance ministry notified a scheme to settle the indirect tax disputes in the pre-GST era, named Sab...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 892
|
|
CBDT issues clarification on eligibility of small Start-ups to avail tax holiday
Posted Date : 23-Aug-2019 , 09:09:19 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has clarified today that small start-ups with turnover upto Rs. 25 crore will continue to get the promised tax holiday as specified in Section 80-IAC of the Income Tax Act, 1961(the ‘Act’), which provides deduction for 100 per cent of income of an...
Continue Reading...
Category :
CBDT |
Comments :
0 | Hits : 969
|
|
SEBI announces reward of Rs 1 Cr to insider trading informants
Posted Date : 23-Aug-2019 , 09:06:54 am | Posted By CASANSAAR
The Securities and Exchange Board of India (SEBI) has announced a reward of upto one crore rupees for informants willing to provide credible information regarding insider trading cases.
This will be a part of the detailed set of rules for the new 'Informant Mechanism' under Prohibit...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 846
|
|
Video on Panel discussion on issue relating to GSTR 9C - Questions and Answers
Posted Date : 22-Aug-2019 , 08:41:55 am | Posted By CASANSAAR
Questions and Answers on issue related to GSTR 9C and Panel discussion on issue related to GST Audit by
CA Gaurav Gupta,
CA Rahul Jain,
CA Mansi Vohra.
https://youtu.be/DOAr-32Cexs
Don't forget to Like...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1612
|
|
SEBI mandates rated Cos to share info with rating agencies on time
Posted Date : 22-Aug-2019 , 08:20:56 am | Posted By CASANSAAR
Markets regulator Sebi on Wednesday said that it will be mandatory for rated corporates to disclose information on delayed loan repayments and possible defaults by their borrowers to credit rating agencies, thus making it easier for these agencies to take rating actions.
The regulator’s boa...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 825
|
|
RBI lashes out on banks for poor compliance
Posted Date : 22-Aug-2019 , 08:14:13 am | Posted By CASANSAAR
The compliance culture in Indian banks is far from satisfactory and some of the big losses suffered on account of frauds could have been avoided if it was in place, the Reserve Bank of India's (RBI) deputy governor MK Jain said on August 20.
Jain, who is in charge of banking and non-banking s...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 872
|
|
Date extension the only solution for GST annual return & GST audit
Posted Date : 21-Aug-2019 , 10:53:46 am | Posted By CASANSAAR
The GST annual return & GST audit report for the first year, which is 2017-18, had to be submitted before December 31, 2018, but saw three extensions - March 31, 2019, June 30, 2019 and finally August 31, 2019. However looking at the recent statistics released by the authorities it is observed t...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 4917
|
|
NCLAT Refuses To Stay NCLT Hearing In IL&FS Case
Posted Date : 21-Aug-2019 , 10:08:40 am | Posted By CASANSAAR
The National Company Law Appellate Tribunal (NCLAT) has refused to give interim relief to IL&FS auditors Deloitte and BSR Associates regarding the move to ban them.
On August 9, the NCLT rejected the plea made by Deloitte and BSR Associates, who had challenged the tribunal’s jurisdictio...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 874
|
|
NCLT admits application for initiating insolvency proceedings against HDIL
Posted Date : 21-Aug-2019 , 10:02:56 am | Posted By CASANSAAR
The National Company Law Tribunal (NCLT) has admitted the insolvency plea filed by public sector lender Bank of India against debt-ridden real estate firm Housing Development and Infrastructure Ltd (HDIL).
In a filing to the BSE, the Mumbai-based real estate firm said the company has been admitte...
Continue Reading...
Category :
Insolvent Professional |
Comments :
0 | Hits : 858
|
|
Govt moves to appoint heads of BoI, BoB, PNB and Canara Bank
Posted Date : 21-Aug-2019 , 09:58:14 am | Posted By CASANSAAR
The government has initiated the process of filling up upcoming vacancies in the top management of large public sector banks (PSBs), unlike last year when several top banks remained headless for months.
The Banks Board Bureau (BBB) has invited applications for the post of managing director (MD) a...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 966
|
|
Govt removes Debenture Redemption Reserve requirement for Listed Companies, NBFCs and HFCs
Posted Date : 20-Aug-2019 , 09:04:00 am | Posted By CASANSAAR
The Ministry of Corporate Affairs has amended the Companies (Share Capital & Debentures) Rules by removing Debenture Redemption Reserve requirement for Listed Companies, NCFCs and HFCs.
The decision has been taken in pursuance of the Budget announcements for 2019-20 by Union Finance & C...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 976
|
|
Ontario draw targets Express Entry candidates with management and financial work experience
Posted Date : 20-Aug-2019 , 08:35:12 am | Posted By CASANSAAR
Ontario, home to both Canada’s capital city, Ottawa, and the country’s largest city, Toronto, issued 997 invitations to apply for Canadian permanent residence to Express Entry candidates on August 15.
Express Entry candidates who received an invitation were required to have work exper...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 4119
|
|
Committee submits report on replacing I-T Act with Direct Tax Code
Posted Date : 20-Aug-2019 , 08:28:48 am | Posted By CASANSAAR
A committee headed by CBDT member Akhilesh Ranjan on Monday submitted its report on replacing the Income Tax Act with a new Direct Tax Code, said the finance ministry on Monday.
The report's recommendations could not be known immediately.
The task force--as the committed was called officia...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1415
|
|
Government panel moots tax relief for companies
Posted Date : 20-Aug-2019 , 08:21:16 am | Posted By CASANSAAR
A government panel tasked with overhauling the nearly six-decade-old Income-Tax Act on Monday recommended significant relief for taxpayers, including an across-the-board 25% tax rate for both local and foreign companies and changes in personal tax slabs to benefit middle and upper middle class India...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 823
|
|
Govt plans debt waiver for small distressed borrowers under IBC
Posted Date : 19-Aug-2019 , 09:48:39 am | Posted By CASANSAAR
The government plans to give debt waiver for “small distressed borrowers” under the insolvency law framework, according to a senior official.
The proposed waiver would be offered as part of ‘Fresh Start’ provisions under the Insolvency and Bankruptcy Code (IBC).
Corpora...
Continue Reading...
Category :
Insolvent Professional |
Comments :
0 | Hits : 916
|
|
Income Tax Dept issues checklist to trace unaccounted demonetisation cash
Posted Date : 19-Aug-2019 , 09:39:23 am | Posted By CASANSAAR
In a bid to seize illegal cash, the Income Tax Department has issued a 17-point checklist to tax commissioners across the country to track those who deposited unaccounted cash during demonetisation.
In a directive to the Principal Chief Commissioners of Income Tax and Principal Director Gen...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 933
|
|
Govt panel gets time till Monday to submit direct tax code report
Posted Date : 17-Aug-2019 , 07:10:25 am | Posted By CASANSAAR
The much-awaited report on the new direct tax code (DTC), which will replace the existing income tax act of 1961, will be submitted to finance minister Nirmala Sitharaman on Monday, said one person privy to the development, requesting anonymity.
The finance ministry-appointed task force, headed b...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1083
|
|
RBI makes it easier to deposit gold under scheme
Posted Date : 17-Aug-2019 , 07:07:44 am | Posted By CASANSAAR
In a move to revive the flagging Gold Monetisation Scheme 2015, the Reserve Bank of India (RBI) has made it easier for depositors to hand over their holdings of the precious metal.
In an amendment to the scheme, the RBI said that, while all deposits have to be made at collection & purity test...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1057
|
|
FinMin in talks with PMO over steps for revival of the economy
Posted Date : 17-Aug-2019 , 06:58:33 am | Posted By CASANSAAR
Finance minister Nirmala Sitharaman Friday said her officials are in discussions with their counterparts in the PMO and once the talks are over government will figure out what remedial steps should be taken and announce the same.
However, she refused to say if government is planning to come out w...
Continue Reading...
Category :
Finance |
Comments :
0 | Hits : 849
|
|
All communication from tax dept to assessees to carry DIN from Oct 1 - CBDT
Posted Date : 16-Aug-2019 , 08:50:41 am | Posted By CASANSAAR
The CBDT said all communications made by the tax department to assessees from October 1 will carry a Document Identification Number (DIN) in order to promote transparency.
With a view to bringing greater transparency in the functioning of the tax administration and improvement in service de...
Continue Reading...
Category :
CBDT |
Comments :
0 | Hits : 1228
|
|
Banks cannot charge for failed transactions, balance enquiry - RBI
Posted Date : 16-Aug-2019 , 08:49:10 am | Posted By CASANSAAR
The Reserve Bank of India asked banks to not charge customers for failed transactions at ATMs or include it as part of the permitted ‘free ATM transactions’ per month set for users.
In a circular issued on Wednesday, the central bank stated that transactions that fail due to technical...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 925
|
|
RBI to issue revised norms for housing finance companies
Posted Date : 14-Aug-2019 , 10:52:41 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Tuesday said housing finance companies (HFCs) will be treated as a category of non-banks, adding, it will release a revised regulatory framework for these entities.
This comes after the Finance Act, 2019 amended the National Housing Bank Act, 1987, conferring ce...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1104
|
|
Reliance Jio to set up one of the world’s largest Blockchain networks across India
Posted Date : 14-Aug-2019 , 10:48:18 am | Posted By CASANSAAR
Reliance Jio is all set to install one of the largest Blockchain networks across the country in the next 12 months with tens of thousands of nodes operational on day one.
Speaking at the 42nd Annual General Meeting (AGM) of Reliance Industries, Chairman Mukesh Ambani called upon on the security, ...
Continue Reading...
Category :
Bitcoins |
Comments :
0 | Hits : 1082
|
|
MCA panel moots CSR expenditure as tax-deductible
Posted Date : 14-Aug-2019 , 10:46:25 am | Posted By CASANSAAR
In a sweeping recommendation, a high-level committee led by Corporate Affairs Secretary Injeti Srinivas has proposed to make corporate social responsibility (CSR) expenditure tax-deductible and allow companies to carry forward the unspent balance for a period of 3-5 years.
This if accepted ...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 880
|
|
Reliance Capital to file Rs 10,000 cr defamation suit against its former auditor PwC
Posted Date : 14-Aug-2019 , 10:42:15 am | Posted By CASANSAAR
First, the statutory auditors resign claiming the company did not provide satisfactory answers to their queries. Then the company’s shares nosedive. Now the company is suing the auditors for false claims and damaging the company’s reputation. This is the story between Price Waterhouse &a...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 1139
|
|
CBDT rebuts incorrect reports about Income Tax notices to Durga Puja Committees
Posted Date : 14-Aug-2019 , 10:38:07 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) on Tuesday denied reports of Income Tax notices being issued to Durga Puja committees in Kolkata.
"It is unequivocally stated that the said reports are factually incorrect and are strongly denied. It is a fact that no notice was issued to the Durga Pu...
Continue Reading...
Category :
CBDT |
Comments :
0 | Hits : 856
|
|
Pass percentage of CA Final / Foundation / CPT May / June 19
Posted Date : 14-Aug-2019 , 10:28:38 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) today announced the results of following examinations held in May/ June, 2019.
1. Chartered Accountants Final Examination (Old & New Syllabus)
2. Foundation Examination
Since December 1949, the Chartered Accountancy Examin...
Continue Reading...
Category :
CA Results |
Comments :
0 | Hits : 1855
|
|
|
