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The PMO has sought an update from the CBDT about the number of appeals it has withdrawn from various courts after a direction was recently issued to enhance monetary limits for filling appeals in various legal forums in order to reduce litigation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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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 : 398
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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 : 378
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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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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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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.
https://youtu.be/iXzkQ-Zy2rA
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Category :
Corporate Law |
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0 | Hits : 522
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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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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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General |
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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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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 : 214
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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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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 : 1085
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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 : 526
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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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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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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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Category :
General |
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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 : 362
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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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Category :
Banking |
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0 | Hits : 378
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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 : 573
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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 : 689
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Centre announces series of measures to boost economic growth
Posted Date : 24-Aug-2019 , 09:58:45 am | Posted By CASANSAAR
The government has unveiled a series of measures to achieve higher economic growth. It has withdrawn enhanced surcharge on Foreign Portfolios Investors FPIs, restoring the pre-budget position. Surcharge on domestic investors in equity markets has also been withdrawn.
Briefing media in New D...
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Category :
Finance |
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0 | Hits : 490
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Pass Percentage & Toppers of CA Intermediate Exam May/June 2019
Posted Date : 24-Aug-2019 , 09:55:40 am | Posted By CASANSAAR
RESULT OF CHARTERED ACCOUNTANTS INTERMEDIATE (IPC) EXAMINATION HELD IN MAY – 2019
The result of the Chartered Accountants Intermediate (IPC) Examination was declared recently.
The details of percentage of candidates passed in the above said examinations are given below:
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CA Results |
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Govt to upfront infuse Rs 70000 Cr capital into Public Sector Banks
Posted Date : 23-Aug-2019 , 08:01:25 pm | Posted By CASANSAAR
Finance Minister Nirmala Sitharaman on Thursday announced upfront capital infusion of Rs 70,000 crore into public sector banks, a move aimed at boosting lending and improving liquidity situation.
The move is expected to generate an additional lending and liquidity in the financial system to the t...
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Category :
Banking |
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0 | Hits : 313
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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...
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Category :
Finance |
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0 | Hits : 312
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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...
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Category :
Income Tax |
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0 | Hits : 552
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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...
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Category :
Auditing |
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0 | Hits : 392
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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...
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General |
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0 | Hits : 385
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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...
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CBDT |
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0 | Hits : 431
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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...
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SEBI |
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0 | Hits : 317
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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
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GST |
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