NSE plans to extend F&O trading hours
Posted Date : 26-Sep-2023 , 11:29:04 am | Posted By CASANSAAR
The National Stock Exchange (NSE) is looking to increase trading hours in the equity derivatives segment in a phased manner, a move that will potentially curtail the overnight risk arising from global information flow, a senior official said on Monday.
The bourse is planning a session from 6 pm t...
Continue Reading...
Category :
Shares & Stock |
Comments :
0 | Hits : 335
|
 |
RBI imposes penalty on SBI, Indian Bank, Punjab & Sind Bank
Posted Date : 26-Sep-2023 , 07:49:32 am | Posted By CASANSAAR
The Reserve Bank on Monday said it has imposed penalties on three state-owned banks, including SBI and Indian Bank, for violation of various regulatory norms.
A penalty of Rs 1.3 crore has been imposed on the State Bank of India for non-compliance with certain directions issued by the RBI on &lsq...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 145
|
|
AI Can Replace Work Being Done by Auditors and Accountants - Union Finance Secretary
Posted Date : 25-Sep-2023 , 07:40:13 am | Posted By CASANSAAR
Union Finance Secretary and senior IAS officer T.V. Somanathan on Saturday said Artificial Intelligence (AI) can replace the work being done by auditors and accountants.
He was delivering the CA S. Hariharan memorial lecture here.
Somanathan said that AI has specific implication for the econom...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 3208
|
|
Govt considers giving financial creditor status to insurers issuing surety bond during resolution
Posted Date : 24-Sep-2023 , 09:08:17 pm | Posted By CASANSAAR
To make surety bond business more attractive, the government is looking at making relevant changes in the Insolvency and Bankruptcy Code (IBC) to consider insurers as financial creditor in case of default of infra projects.
The surety bond issued by a general insurance company is a three-party ...
Continue Reading...
Category :
Insolvent Professional |
Comments :
0 | Hits : 121
|
|
RBI proposes stringent norms for wilful defaulters
Posted Date : 23-Sep-2023 , 08:38:52 am | Posted By CASANSAAR
The Reserve Bank on Thursday proposed tighter norms for treatment of wilful defaulters under which banks and other lenders will be required to examine all accounts with outstanding amount of Rs 25 lakh and more to see if the borrower is deliberately not repaying the loan.
RBI proposed that lender...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 493
|
|
SEBI eases borrowing norms for large corporates
Posted Date : 23-Sep-2023 , 07:55:05 am | Posted By CASANSAAR
SEBI provides flexibility to large corporates in raising funds through issuance of debt securities.
The Securities and Exchange Board of India (SEBI) has decided to provide flexibility to large corporates in raising funds through issuance of debt securities for incremental financing needs. The de...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 146
|
|
IBC Cannot Be Used As A Tool For Recovery - NCLT Delhi
Posted Date : 23-Sep-2023 , 07:51:49 am | Posted By CASANSAAR
The National Company Law Tribunal Delhi recently observed that the Insolvency and Bankruptcy Code cannot be used as a recovery tool.
“We are of the view that in the present case the applicants are already having demands drafts of amount exceeding the defaulted amount in this petition and mo...
Continue Reading...
Category :
Insolvent Professional |
Comments :
0 | Hits : 212
|
|
SEBI to auction property of Saradha Group's property on Oct 17
Posted Date : 21-Sep-2023 , 06:03:26 pm | Posted By CASANSAAR
Market regulator Sebi has said it will auction the property of the Saradha Group of companies next month at a reserve price of over Rs 3 crore to recover money raised by the firm from the public through illicit schemes.
The property located in West Bengal will go under the hammer, the Securities ...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 199
|
|
GSTN Advisory - Geocoding Functionality for the Additional Place of Business
Posted Date : 20-Sep-2023 , 07:36:52 am | Posted By CASANSAAR
Dear Taxpayers,
1.GSTN is pleased to inform that the geocoding functionality for the "Additional Place of Business" address is now active across all States and Union Territories. This builds upon the geocoding functionality earlier implemented for the principal place of busine...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 187
|
|
CBDT extends due date for filing of Form 10B/10BB and Form ITR-7 for the A,Y. 2023-24
Posted Date : 19-Sep-2023 , 08:44:35 am | Posted By CASANSAAR
The due date of furnishing Audit reports in Form 10B/Form 10BB for the Financial Year 2022-23, which is 30.09.2023 has now been extended by the Central Board of Direct Taxes (CBDT) to 31.10.2023.
The due date of furnishing of Return of Income in Form ITR-7 for Assessment Year 20...
Continue Reading...
Category :
CBDT |
Comments :
0 | Hits : 299
|
|
SEBI Imposes Rs.2.46 Cr Penalty on Company, Directors for Misrepresenting Financial Statements
Posted Date : 19-Sep-2023 , 08:19:00 am | Posted By CASANSAAR
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs1.80 crore on Talwalkars Better Value Fitness Ltd (TBVFL) and the company's top executives, including two chairpersons, for misrepresenting the financial statements and failing to make true and adequate dis...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 730
|
|
SBI to send chocolates to borrowers who are likely to default on monthly repayments
Posted Date : 17-Sep-2023 , 09:27:15 pm | Posted By CASANSAAR
The nation's largest lender State Bank of India is adopting a novel way to ensure timely repayments, especially by its retail borrowers, by greeting those likely to default on monthly installments with a pack of chocolates.
According to the bank, it has been found that a borrower who is plann...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 295
|
|
GSTN Advisory - Time limit for Reporting Invoices on the IRP Portal
Posted Date : 16-Sep-2023 , 03:35:19 pm | Posted By CASANSAAR
Dear Taxpayers,
1.It is to inform you that it has been decided by the Government to impose a time limit on reporting old invoices on the e-invoice IRP portals for taxpayers with AATO greater than 100 crores.
2.To ensure timely compliance, taxpayers in this category will n...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 223
|
|
Government notifies 31 Benches of GST Appellate Tribunal
Posted Date : 16-Sep-2023 , 10:07:29 am | Posted By CASANSAAR
The Finance Ministry notified the constitution of 31 Appellate Tribunals across 28 States and eight Union Territories for the Goods and Services Tax (GST) late on Thursday night, setting the stage to resolve a growing number of taxpayer disputes with the Revenue Department.
The establishment of t...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 311
|
|
CBI registers corruption case against former Income-Tax Additional Commissioner and others
Posted Date : 16-Sep-2023 , 10:03:53 am | Posted By CASANSAAR
The Central Bureau of Investigation (CBI) has registered an alleged corruption case against a former Additional Commissioner of Income Tax, Santosh Karnani, his wife, one director of an Ahmedabad-based firm and others.
It is based on the findings of another case taken over by the agency in Octobe...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1850
|
|
Special Parliament Session Starts from Monday, 18th September 2023
Posted Date : 14-Sep-2023 , 05:26:13 pm | Posted By CASANSAAR
A five-day-long Special Parliament Session will be held from Monday. A Parliamentary Bulletin said, that on the first day a discussion on the Parliamentary Journey of 75 years starting from Samvidhan Sabha - Achievements, Experiences, Memories, and Learnings will be held in Lok Sabha.
The G...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 195
|
|
CA Praveena Anjana Crowned Miss International India 2023
Posted Date : 14-Sep-2023 , 08:13:47 am | Posted By CASANSAAR
Praveena Anjana of Udaipur has been crowned Miss International India 2023, gaining her position to represent India at the Miss International pageant in Japan this October.
Praveena Anjana of Udaipur has been crowned Miss International India 2023, gaining her position to represent India at the Mis...
Continue Reading...
Category :
Chartered Accountant |
Comments :
0 | Hits : 1979
|
|
RBI directs banks to release property documents within 30 days of loan repayment
Posted Date : 14-Sep-2023 , 08:06:48 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has directed banks and other financial institutions to release all the movable and immovable property documents within 30 days of the full repayment of loans. Besides that, it has also stated that lenders will need to compensate borrowers in case of any delay in relea...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 303
|
|
RBI Issues Revised Guidelines for Investment of Commercial Banks
Posted Date : 13-Sep-2023 , 09:16:57 am | Posted By CASANSAAR
The Reserve Bank of India on Tuesday issued revised classification, valuation and operation guidelines for the investment portfolio of commercial banks, which will be effective from April 1, 2024.
Banks will have to categorise investments into three categories from the next financial year: availa...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 168
|
|
Goods in Transit can't be Seized under GST law without inquiry - High Court
Posted Date : 12-Sep-2023 , 08:36:21 am | Posted By CASANSAAR
Court rules the items cannot be confiscated without investigation even if the original supplier does not have GST registration.
The case relates to a trader who bought iron scrap from a company in Vijayawada. The Andhra Pradesh High Court has ruled that the goods and services tax (GST) authoritie...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 834
|
|
Average Processing time of Income Tax Returns (ITR) reduced to 10 days
Posted Date : 07-Sep-2023 , 08:51:24 am | Posted By CASANSAAR
Average processing time of Income Tax Returns (ITR) has reduced to ten days in the Assessment Year 2023-24. Average processing time of ITR was 82 days in the Assessment Year 2019-20, and 16 days in Assessment Year 2022-23.
Income Tax Department said, it is committed to process the ITR in a ...
Continue Reading...
Category :
ITR |
Comments :
0 | Hits : 354
|
|
Govt to reassess mandatory joint audit plan for big companies
Posted Date : 07-Sep-2023 , 08:48:25 am | Posted By CASANSAAR
The government is having a rethink on a proposal to mandate joint audits of large firms by amending the Companies Act, as it weighs larger deliberations on the issue of fixing audit accountability when things go wrong, said a person aware of the details.
In a joint audit, two or more audit firms ...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 865
|
|
Govt notifies valuation methodology for calculating GST on online gaming, casino
Posted Date : 07-Sep-2023 , 08:43:17 am | Posted By CASANSAAR
The government on September 1 notified amendments to GST law in relation to the valuation methodology to be adopted by online gaming companies and casinos for calculating tax.
The Ministry of Finance notified amendments to Central GST law for calculating value of supply in case of online gaming a...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 292
|
|
CBDT processed 88 percent ITR, refunds over Rs 2.45 Cr issued till Sep. 5
Posted Date : 06-Sep-2023 , 08:53:59 am | Posted By CASANSAAR
The Income Tax Department has processed refunds of over Rs 2.45 crore for 6.84 crore verified Income tax returns (ITRs), bringing down the average processing time to 10 days for the assessment year 2023-24
“The department’s efforts to provide seamless and expeditious taxpayer services...
Continue Reading...
Category :
ITR |
Comments :
0 | Hits : 369
|
|
RBI allows Pre-Sanctioned Credit Lines through UPI
Posted Date : 05-Sep-2023 , 12:38:29 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) Monday said the Unified Payments Interface (UPI) System will also include pre-sanctioned credit lines issued by banks for transactions.
Earlier, only the deposited amount could be transacted through the UPI System.
On April 6, 2023, the Reserve Bank...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 879
|
|
GST revenue rises 11% to Rs 1.59 lakh Cr in August 23
Posted Date : 02-Sep-2023 , 07:21:42 am | Posted By CASANSAAR
The gross GST revenue collected in August is 1,59,069 crore rupees. This includes CGST of 28,328 crores, SGST of 35,794 crores, and IGST of 83,251 crores.
The government has settled 37,581 crores to CGST and 31,408 crores to SGST from IGST. The total revenue of Centre and the States in Augu...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 619
|
|
AI (Artificial Intelligence) can't substitute human intelligence in court - High Court
Posted Date : 28-Aug-2023 , 08:19:19 am | Posted By CASANSAAR
Artificial intelligence can substitute neither the human intelligence nor the humane element in the adjudicatory process, the Delhi high court has held and said ChatGPT can't be the basis of adjudication of legal or factual issues in a court of law.
Justice Prathiba M Singh stated that the ac...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 682
|
|
SEBI proposes brokers stay away from unregulated financial influencers
Posted Date : 26-Aug-2023 , 07:45:51 am | Posted By CASANSAAR
Market regulator Securities Exchange Board of India (SEBI) on Friday released a consultation paper on the association of registered intermediaries with ‘finfluencers’ or digital and social media influencers broadly operating in the space of financially literacy and business.
The...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 441
|
|
Domain + Website + Hosting + 2 email ids with 30 days Money Back Guarantee
Posted Date : 25-Aug-2023 , 04:40:15 pm | Posted By CASANSAAR
Domain + Website + Hosting + 2 email ids @ Just Rs.3100/- with 30 days Money Back Guarantee.
CASANSAAR offers a Golden opportunity for Professionals, where they could create their own stunning website with multiple designs and templates to c...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 724
|
|
Govt plans to reduce income tax refund processing time
Posted Date : 25-Aug-2023 , 08:23:48 am | Posted By CASANSAAR
The income tax department is planning to reduce the average processing time for getting tax refunds. As per a report in Business Standard, the tax department is mulling over the reduction of days to 10 from the current 16 days.
The report says that the new timeline is expected to be implemented d...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 455
|
|
|
