RBI imposes monetary penalty on HDFC Bank, Shriram Finance
Posted Date : 12-Jul-2025 , 08:58:16 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) said on Friday that it has imposed a monetary penalty of Rs 4.88 lakh on HDFC Bank and Rs 2.70 lakh on Shriram Finance after finding non-compliance with certain directions of the Central Bank.
The penalty on HDFC Bank was levied under the provisions of Section 11(3...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 6
|
 |
RBI to intensify scrutiny of Bank Auditors after Governance lapses
Posted Date : 11-Jul-2025 , 10:25:23 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) is expected to turn the knob on statutory auditors of banks, and by extension, on the role of their audit committees.
With governance concerns at IndusInd and Karnataka Bank, RBI is expected to tighten its engagement with statutory auditors and examine the role of ...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 8
|
 |
CA dies by suicide after ₹3 cr blackmail, leaves message for colleagues
Posted Date : 11-Jul-2025 , 01:36:26 am | Posted By CASANSAAR
A 32-year-old chartered accountant died by suicide on Tuesday after allegedly being blackmailed into paying over ₹3 crore in the past few months. The Mumbai-based accountant, in his suicide note, blamed two people -- who had allegedly threatened to circulate his obscene videos on social media - fo...
Continue Reading...
Category :
CA |
Comments :
0 | Hits : 476
|
 |
Excel utilities for ITR-2 and ITR-3 for AY 2025-26 are now live and available for filing
Posted Date : 11-Jul-2025 , 08:31:11 am | Posted By CASANSAAR
Excel utilities for ITR-2 and ITR-3 for AY 2025-26 are now live and available for filing.
The Income Tax Department has officially released Excel-based offline utilities (version 1.0) for ITR‑2 and ITR‑3 forms, now available for download on the e‑Filing portal as of 11 July 2025.
...
Continue Reading...
Category :
ITR |
Comments :
0 | Hits : 214
|
 |
Chartered Accountant arrested in Rs 750 Cr Chinese loan app scam case
Posted Date : 07-Jul-2025 , 11:17:05 am | Posted By CASANSAAR
The Uttarakhand Special Task Force (STF) has arrested the alleged mastermind of a pan-India cyber fraud operation involving over Rs 750 crore, at Delhi’s airport.
Abhishek Agarwal, a chartered accountant by profession, is accused of running a fake loan app racket in collaboration with Chine...
Continue Reading...
Category :
Chartered Accountant |
Comments :
0 | Hits : 685
|
 |
Aakash Educational Accuses EY for Professional Misconduct
Posted Date : 07-Jul-2025 , 11:09:03 am | Posted By CASANSAAR
Test preparatory firm Aakash Educational Services has sent a legal notice to consultancy firm EY, its partners and officials, accusing them of advising rivals in conflict of interest and professional misconduct, the company said on Saturday.
Aakash Educational Services Ltd (AESL) has alleged that...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 613
|
 |
Results of the CA Final, Inter & Foundation May 2025 Exams are likely to be declared on 6th July 2025
Posted Date : 04-Jul-2025 , 10:19:32 pm | Posted By CASANSAAR
The results of the Chartered Accountants Final, Intermediate and Foundation Examinations held in May 2025 are likely to be declared on 6th July 2025 at the following timings; and the same can be accessed by candidates on the website icai.nic.in.
...
Continue Reading...
Category :
CA Results |
Comments :
0 | Hits : 396
|
 |
CBDT raises cost inflation index to ease capital gains tax burden
Posted Date : 05-Jul-2025 , 08:41:18 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has revised a key metric used to calculate inflation-adjusted purchase price of assets, enabling sellers to claim greater tax relief on asset sales.
An official notification showed that the cost inflation index (CII), used to neutralize the impact of infla...
Continue Reading...
Category :
CBDT |
Comments :
0 | Hits : 392
|
 |
RBI bars prepayment penalty on floating rate micro, small business loans
Posted Date : 04-Jul-2025 , 11:31:36 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has directed banks and non-banking financial companies (NBFCs) not to charge any prepayment penalty on floating rate loans to micro and small enterprises (MSEs), sanctioned or renewed from January 1, 2026.
Observing that “availability of easy and afford...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 538
|
 |
SEBI allows 6-month window to re-lodge old share transfer requests
Posted Date : 04-Jul-2025 , 12:57:33 am | Posted By CASANSAAR
Sebi said it has permitted a one-time special window for investors to re-lodge physical share transfer requests that were submitted before April 1, 2019, but rejected or returned due to deficiencies.
The six-month window will be open from July 7 to January 6, 2026, as part of the regulator's ...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 433
|
 |
Rupee Gains 21 Paise to 85.34 Against US Dollar in Early Trade
Posted Date : 04-Jul-2025 , 12:24:20 am | Posted By CASANSAAR
MUMBAI: (Jul 4) The rupee appreciated 21 paise to 85.34 against the US dollar in early trade on Friday as Asian currencies, including the rupee gained ground on renewed hopes of trade deals with the US.
Forex traders said, US President announced a trade agreement with Vietnam, and that in...
Continue Reading...
Category :
Finance |
Comments :
0 | Hits : 249
|
 |
Gross and Net GST Revenue Collections – June 2025
Posted Date : 02-Jul-2025 , 10:56:24 am | Posted By CASANSAAR
Jul 1st, 2025
Please click on the link below to view the gross and net GST revenue collections for the month of June, 2025.
https://tutorial.gst.gov.in/downloads/news/approved_monthly_gst_data_for_publishing_june_2025.pdf
Thanks,
Team GSTN
...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 514
|
 |
SEBI mandates enhanced disclosures from listed companies on related party dealings to improve transparency.
Posted Date : 28-Jun-2025 , 08:25:09 pm | Posted By CASANSAAR
Market regulator Securities and Exchange Board of India (SEBI) has asked listed entities to share more information for approval of related party transactions (RPTs).
Related party transactions or RPTs are business dealings between a company and parties that have pre-existing relationship, like su...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 477
|
 |
ICMAI invites CMAs to submit Expression of Interest for SEBI Task Force
Posted Date : 27-Jun-2025 , 12:56:15 am | Posted By CASANSAAR
The Institute of Cost Accountants of India (ICMAI) is inviting CMAs to submit an Expression of Interest (EOI) to help develop a new National Institute of Securities Markets (NISM) certification course as part of the newly proposed Securities and Exchange Board of India (SEBI) task force.
An ...
Continue Reading...
Category :
ICWAI |
Comments :
0 | Hits : 717
|
 |
CBDT orders processing of late returns, refunds filed upto March 2024
Posted Date : 27-Jun-2025 , 07:23:03 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has ordered the processing of late tax returns and their refunds in cases where taxpayers have filed a request for condoning delays and reported their income by the end of March 2024.
CBDT said in an order that returns of income filed under section 1...
Continue Reading...
Category :
CBDT |
Comments :
0 | Hits : 637
|
 |
CBIC issues procedural guidelines for review and appeals in Multi-State GST Cases
Posted Date : 27-Jun-2025 , 07:21:04 am | Posted By CASANSAAR
The Central Board of Indirect Taxes and Customs (CBIC) has issued procedural guidelines to clarify the review and appeal process for adjudication orders in multi-state Goods and Services Tax (GST) cases handled by Common Adjudicating Authorities (CAAs).
This move addresses jurisdictional am...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 585
|
 |
FM asks tax income tax dept to drop tax appeals below new thresholds in 3 months
Posted Date : 24-Jun-2025 , 11:52:45 am | Posted By CASANSAAR
Finance minister Nirmala Sitharaman on Monday asked the income tax department to withdraw within three months all appeals filed by it before tribunals and courts in which the tax claim falls below the new monetary threshold announced in last year's budget.
The government had in budget 2024-25...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1720
|
 |
Handling of Inadvertently Rejected records on IMS
Posted Date : 21-Jun-2025 , 11:26:52 am | Posted By CASANSAAR
Jun 19th, 2025
Question 1: How can a recipient avail ITC of wrongly rejected Invoices/ Debit notes/ECO-Documents in IMS as corresponding GSTR-3B of same tax period was also filed by recipient?
Answer: In such cases recipient can request to the corresponding supplier to...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1349
|
 |
CBDT taking action for non-responsive taxpayers having foreign income
Posted Date : 21-Jun-2025 , 09:34:05 am | Posted By CASANSAAR
Finance Ministry on Friday said CBDT is taking action against people having foreign income and as many as 5,483 taxpayers have filed belated returns reporting foreign assets worth Rs 29,208 crore and additional income of Rs 1,089.88 crore.
Suitable action under the extant provision of law is unde...
Continue Reading...
Category :
CBDT |
Comments :
0 | Hits : 1029
|
 |
FinMin Nirmala Sitharaman asks officials to make the GST Registration Easier
Posted Date : 20-Jun-2025 , 11:01:25 pm | Posted By CASANSAAR
Finance Minister Nirmala Sitharaman on Friday asked CBIC to make the GST registration easier, seamless, and more transparent for taxpayers, using technology and risk-based parameters.
Sitharaman, who chaired the Central Board of Indirect Taxes and Customs (CBIC) Conclave with the Principal Chief ...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 985
|
 |
Advisory to file pending returns before expiry of three years
Posted Date : 19-Jun-2025 , 07:33:18 pm | Posted By CASANSAAR
Jun 18th, 2025
As per the Finance Act,2023 (8 of 2023), dt. 31-03-2023, implemented w.e.f 01-10-2023 vide Notification No. 28/2023 – Central Tax dated 31th July, 2023, the taxpayers shall not be allowed file their GST returns after the expiry of a period of three years from the due date...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1542
|
 |
Guidelines for compulsory selection of returns for Complete Scrutiny during the Financial Year 2025-26
Posted Date : 19-Jun-2025 , 08:05:26 am | Posted By CASANSAAR
Guidelines for compulsory selection of returns for Complete Scrutiny during the Financial Year 20 25-26- procedure for compulsory selection in such cases -regarding.
Kindly refer to the above.
The parameters for compulsory selection of returns for Complete Scrutiny during Financial Year 2025-2...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1891
|
 |
ED conducts pan-India raids in forex trading scam
Posted Date : 19-Jun-2025 , 07:57:22 am | Posted By CASANSAAR
The Enforcement Directorate (ED) conducted raids at seven different locations across the country in connection with an illegal online forex trading case. The ED on Tuesday informed that the fraud was committed allegedly through international brokers namely OctaFX trading App and website. Hundreds of...
Continue Reading...
Category :
Money laundering |
Comments :
0 | Hits : 1255
|
 |
Enhanced Interoperability Introduced Between E-Way Bill Portals
Posted Date : 17-Jun-2025 , 09:35:25 am | Posted By CASANSAAR
Jun 16th, 2025
GSTN is pleased to inform that NIC shall be launching the new E-Way Bill 2.0 portal (https://ewaybill2.gst.gov.in) on 1st July 2025, featuring enhanced inter-operable E-Way Bill functionalities. The portal is being introduced to provide enhanced in...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1661
|
 |
Auditors support CAG move to rope in private firms
Posted Date : 17-Jun-2025 , 12:10:50 pm | Posted By CASANSAAR
Audit firms back CAG’s move to engage CA and LLP firms for audits of local bodies from July 2025 to March 2027. ICAI clarifies private auditors will assist under CAG supervision, ensuring audit quality without diluting constitutional authority. Industry sees it as a global best practice.
In...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 1331
|
 |
NFRA slaps notices on IndusInd Bank present and past Auditors
Posted Date : 17-Jun-2025 , 12:05:31 pm | Posted By CASANSAAR
India’s top watchdog for accounting and auditing standards, the National Financial Reporting Authority (NFRA), has initiated a probe involving several chartered accountancy firms connected with the audit of IndusInd Bank, a prominent private sector lender currently under scrutiny.
According...
Continue Reading...
Category :
NFRA |
Comments :
0 | Hits : 1454
|
 |
CAG Set to Appoint CA Firms for Autonomous Bodies Audit Assignments
Posted Date : 13-Jun-2025 , 06:08:53 pm | Posted By CASANSAAR
The Comptroller and Auditor General (CAG) is expected to complete the empanelment process of Chartered Accountancy (CA) firms within the next two weeks, according to senior officials. These firms will be engaged in auditing the accounts of autonomous, local, and other entities for the period spannin...
Continue Reading...
Category :
CAG |
Comments :
0 | Hits : 1466
|
 |
Filing of SPL-01/02 Enabled for GSTR-3B Payment & Other Cases
Posted Date : 12-Jun-2025 , 08:52:06 am | Posted By CASANSAAR
Jun 12th, 2025
1. While filing amnesty applications in Form SPL-01 or SPL-02 under Section 128A of the CGST Act, 2017, some taxpayers are facing technical issues related to auto population of payment details in Table 4 of the forms.
2. In particular, it has been observed th...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 2035
|
 |
Advisory on Filing Amnesty Applications under Section 128A of CGST Act
Posted Date : 12-Jun-2025 , 04:13:55 pm | Posted By CASANSAAR
Jun 11th, 2025
1. As on 08.06.2025, a total of 3,02,658 waiver applications have been filed through SPL-01/02. However, it has come to notice that certain taxpayers are facing difficulties in filing amnesty applications under Section 128A on the GST portal. In view of t...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 1927
|
 |
SEBI Introduces New UPI Mechanism for Intermediaries Effective October 1, 2025
Posted Date : 12-Jun-2025 , 03:59:39 pm | Posted By CASANSAAR
Mumbai, June 11 (PTI): To bolster investor protection and curb fraudulent practices, the Securities and Exchange Board of India (SEBI) has announced the rollout of a new UPI-based payment mechanism for all SEBI-registered intermediaries involved in collecting funds from investors. The initiative is ...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 1323
|
 |
|