SEBI overhauls high-power advisory committee on settlement orders
Posted Date : 04-Feb-2022 , 09:26:09 am | Posted By CASANSAAR
Capital markets regulator Sebi has restructured its four member high-power advisory committee on settlement orders and compounding of offences.
The committee will now be chaired by Jai Narayan Patel, former chief justice of Calcutta High Court, according to a latest update with the Securities and...
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SEBI |
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Former Sports Secretary Ravi Mittal appointed as IBBI Chairperson
Posted Date : 04-Feb-2022 , 09:17:27 am | Posted By CASANSAAR
The government has appointed former civil servant Ravi Mittal as the chairperson of the Insolvency and Bankruptcy Board of India (IBBI), according to sources. The appointment comes little over four months after the post fell vacant following the retirement of M S Sahoo who completed his five-year te...
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Corporate Law |
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Summary of Union Budget 2022-23
Posted Date : 01-Feb-2022 , 01:34:33 pm | Posted By CASANSAAR
India’s economic growth in the current year is estimated to be 9.2 per cent, highest among all large economies. The overall, sharp rebound and recovery of the economy from the adverse effects of the pandemic is reflective of our country’s strong resilience. This was stated by Union Minis...
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Budget |
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Key Highlights of the Union Budget 2022-23
Posted Date : 01-Feb-2022 , 01:32:59 pm | Posted By CASANSAAR
The Union Budget seeks to complement macro-economic level growth with a focus on micro-economic level all inclusive welfare. The Union Minister for Finance & Corporate Affairs, Smt Nirmala Sitharaman tabled the Union Budget 2022-23 in Parliament today.
The key highlights of the budget are as ...
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Budget |
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Economic Survey for the year 2021-22 to be tabled in Parliament today
Posted Date : 31-Jan-2022 , 09:30:39 am | Posted By CASANSAAR
The Budget Session of Parliament begins today. Economic Survey 2021-22 will also be tabled today.
Finance Minister, Nirmala Sitharaman, will present the Union Budget for the year 2022-2023 tomorrow in the Lok Sabha and its copy will be laid on the Table of the Rajya Sabha soon thereafte...
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Budget |
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Budget Session of Parliament begins with President's joint address to both Houses at 11 AM
Posted Date : 31-Jan-2022 , 08:53:45 am | Posted By CASANSAAR
The Budget Session of Parliament begins today. The session will commence with President Ram Nath Kovind's address to both the Houses of Parliament assembled together at 11 AM in Central Hall. After that, the copy of the President's address will be tabled in both the Houses. Economic Survey 2...
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Budget |
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RBI imposes monetary penalty on 8 cooperative banks
Posted Date : 25-Jan-2022 , 08:16:54 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on January 24 imposed monetary penalties on eight cooperative banks for the violation of loan and know your customer norms.
These banks are Rajkot Peoples Cooperative Bank, Vasai Janata Sahakari Bank, Mogaveera Cooperative Bank, The Varachha Cooperative Bank, The...
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RBI |
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CA Foundation, Inter, Final course May Exams 2022 time table released by ICAI
Posted Date : 22-Jan-2022 , 10:00:52 am | Posted By CASANSAAR
No. 13-CA (EXAM)/M/2022: In pursuance of Regulation 22 of the Chartered Accountants Regulations, 1988, the Council of the Institute of Chartered Accountants of India is pleased to announce that the next Chartered Accountants Foundation, Intermediate and Final Examinations will be held on the dates a...
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CA Exams |
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CBDT Assures Gujarat High Court to Resolve Issues Of Assessees, Specifies Its Grievance Mechanism
Posted Date : 22-Jan-2022 , 09:53:57 am | Posted By CASANSAAR
The Gujarat high court on Friday disposed of petitions seeking extension of deadline in filing of Tax Audit Report (TAR) and Income Tax Returns (ITR), complaining about technical glitches on I-T portal, after top officials of Central Board of Direct Taxes (CBDT) gave an assurance that the problems f...
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CBDT |
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Ministry of Labour & Employment releases provisional payroll data of EPFO
Posted Date : 22-Jan-2022 , 09:36:30 am | Posted By CASANSAAR
Ministry of Labour and Employment released the provisional payroll data of EPFO today. The ministry said that EPFO added 13 lakh 95 thousand net subscribers during the month of November last year, showing an increase of around 2 lakh 85 thousand net additions over the previous month of October last ...
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General |
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SEBI launches Saa₹thi mobile app on investor education
Posted Date : 20-Jan-2022 , 09:15:21 am | Posted By CASANSAAR
Securities and Exchange Board of India (SEBI) has launched Saa₹thi, a mobile app on investor education. The new app aims to empower investors with accurate knowledge about the securities market.
Addressing the launch event in Mumbai, SEBI Chairman Ajai Tyagi said, the app will cater large...
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SEBI |
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Extension of last date for complying with the mandatory CPE hours’ requirements for the Calendar Year 2021 - ICAI
Posted Date : 17-Jan-2022 , 10:00:36 am | Posted By CASANSAAR
In view of impact of Covid-19 across the world and the difficulties faced by Members for completing their mandatory CPE hours’ requirements during the Calendar year 2021, it has been decided by the Competent Authority to extend the last date for complying with the CPE hours’ requirements...
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ICAI |
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Bombay HC sets aside rejection of refund claims by GST authorities
Posted Date : 17-Jan-2022 , 09:53:31 am | Posted By CASANSAAR
The Bombay High Court has quashed an order by the GST authorities that had rejected the refund claim of an assessee because it was filed after two years, a time limit set by the rules. This was done since the authorities have not taken into cognizance the earlier Supreme Court verdict that excluded ...
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GST |
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Budget session of Parliament to commence on 31st January
Posted Date : 15-Jan-2022 , 09:21:27 am | Posted By CASANSAAR
The budget session of Parliament will commence on January 31. The first half of the budget session will run from January 31 to February 11. It will reassemble on March 14 to sit until 8th of April subject to exigencies of government business. The government will present the Budget for fiscal year 20...
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Budget |
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Delhi Man Arrested For Issuing Fake GST Invoices Worth Rs. 4,521 Cr
Posted Date : 15-Jan-2022 , 09:18:48 am | Posted By CASANSAAR
GST officers have arrested one person for operating a syndicate and issuing fake invoices of ₹ 4,521 crore for availing input tax credit (ITC) benefit under goods and services tax, an official statement said on Friday.
It said scrutiny of tally data has shown that there are 636 firms being ...
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GST |
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CBDT extends due dates for filling Audit reports and IT Returns for 2021-22
Posted Date : 11-Jan-2022 , 10:26:50 pm | Posted By CASANSAAR
On consideration of difficulties reported by the taxpayers and other stakeholders due to COVID and in electronic filing of various reports of audit under the provisions of the Income-tax Act, 1961 (the Act), the Central Board of Direct Taxes (CBDT) has decided to further extend the due dates for fil...
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Income Tax |
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Tax Audit Due Date Extension - Retweet / Comments
Posted Date : 06-Jan-2022 , 09:03:24 am | Posted By CASANSAAR
Getting Many Messages for Tax Audit Date (TAR) Extension, Do you think Date should be extended? if Yes then Retweet it, if No then comment plz.
More then 1500 Members already Retweet. Link to Retweet.
https://twitter.com/casansaar/status/1478586123865653248
...
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Tax Audit |
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SEBI encourages investors to file their complaints through SCORES portal
Posted Date : 06-Jan-2022 , 08:55:40 am | Posted By CASANSAAR
In a move to increase awareness regarding online mechanisms for investor grievance redressal, SEBI advised all recognized stock exchanges including commodity derivatives exchanges/ depositories/ clearing corporations to display the information to direct investors to SCORES website, on the home page ...
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SEBI |
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Xiaomi Technology India Pvt Ltd evades customs duty of Rs 653 Cr - FinMin
Posted Date : 06-Jan-2022 , 08:48:46 am | Posted By CASANSAAR
The Finance Ministry has said that gadget manufacturer Xiaomi Technology India Private Limited has evaded customs duty of 653 crore rupees. Xiaomi India sales products under the MI brand.
An investigation was initiated by the Directorate of Revenue Intelligence against Xiaomi India and its contra...
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Custom |
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SBI not to levy service charge on online IMPS transactions up to Rs 5 lakh
Posted Date : 05-Jan-2022 , 08:33:19 am | Posted By CASANSAAR
Public sector State Bank of India (SBI), on January 4 announced it would not levy any service charge on online Immediate Payment Service (IMPS) transactions up to Rs 5 lakh.
Earlier, online IMPS transactions up to Rs 2 lakh were exempted from service charge.
"In an aim to...
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Banking |
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Income Tax department eases norms for ‘faceless’ appeal scheme
Posted Date : 30-Dec-2021 , 09:54:16 am | Posted By CASANSAAR
The Income Tax department has brought in changes to the existing faceless appeal scheme, easing the process for taxpayers wanting a personal hearing through video conference while appealing against a tax demand by the department.
The Central Board of Direct Taxes (CBDT) on December 28, notified...
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Income Tax |
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Reserve Bank of India imposes Monetary Penalty on two Payment System Operators
Posted Date : 24-Dec-2021 , 09:46:26 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has imposed monetary penalty on the following two Payment System Operators (PSOs) for committing offences of the nature referred to in Section 26 (6) of the Payment and Settlement Systems Act, 2007 (PSS Act).
Sr. No.
...
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RBI |
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SEBI releases framework for advisory, portfolio management services
Posted Date : 22-Dec-2021 , 08:55:14 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) on Tuesday came up with a framework pertaining to fees for investment advisory services for accredited investors. Also, the capital markets regulator put in place guidelines on exit load charges applicable to the client of the portfolio manager.
...
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Income Tax |
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Companies spent Rs 1.09 lakh Cr towards CSR activities in 7 years
Posted Date : 22-Dec-2021 , 08:47:51 am | Posted By CASANSAAR
Companies shelled out Rs 1.09 lakh crore towards various CSR activities, including those related to health, education and poverty eradication, under the companies law in the last seven financial years, according to the corporate affairs ministry.
Under the Companies Act, 2013, certain class of ...
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Corporate Law |
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Govt recovers Rs. 13,109 Cr by selling assets of defaulters
Posted Date : 21-Dec-2021 , 08:33:01 am | Posted By CASANSAAR
The government has recovered over ₹13,109 crore by selling assets of defaulters such as Nirav Modi, Vijay Mallya, and Mehul Choksi as of July this year, finance minister Nirmala Sitharaman said Monday.
She added that another ₹792 crore was recovered from Vijay Mallya and others, as ...
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Banking |
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Delhi High Court quashes Income Tax reassessment notices issued after March 31
Posted Date : 16-Dec-2021 , 08:40:58 am | Posted By CASANSAAR
The Delhi High Court on Wednesday quashed all the re-assessment notices issued by the I-T Department after March 31 this year under a provision of the Income Tax Act. The court, which passed a common judgement in a batch of 1,346 petitions, was dealing with a question as to whether the government or...
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Income Tax |
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Cabinet clears draft Bill for linking Aadhaar & voter ID
Posted Date : 16-Dec-2021 , 08:36:42 am | Posted By CASANSAAR
The Union Cabinet on Wednesday cleared proposed amendments to the electoral law seeking to bring in key electoral reforms such as linkage of voter ID with Aadhaar so as to weed out bogus and duplicate entries in the electoral roll. Sources indicated that another reform sought to be implemented is al...
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Income Tax |
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Bank deposit insurance cover upped to Rs 5 lakh, refund in 90 days
Posted Date : 13-Dec-2021 , 08:03:16 am | Posted By CASANSAAR
Union Minister of Commerce and Industry Piyush Goyal on Sunday said that the Central government has increased the bank deposit insurance cover, in case of problems occurring such as closure, from Rs 1 lakh to Rs 5 lakh. The amount has to be refunded to the depositor within 90 days.
Addressing &...
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Banking |
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SEBI may get to regulate private cryptocurrencies
Posted Date : 08-Dec-2021 , 07:47:10 am | Posted By CASANSAAR
The government may ask stock and commodity markets watchdog Sebi to oversee cryptocurrencies and regulate the affairs of exchanges dealing with them, as it considers a proposal to classify cryptos as financial assets, industry sources told FE.
Investors may get at least three months to declare ...
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SEBI |
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GST collections in November cross Rs 1.3 lakh Cr, second highest ever
Posted Date : 02-Dec-2021 , 08:25:21 am | Posted By CASANSAAR
GST revenues for November this year have been the second highest ever since introduction of GST. The gross GST revenue collected in November this year is 1 lakh 31 thousand 526 crore rupees. For the second straight month Gross GST collection has crossed 1 lakh 30 thousand crore rupees. The revenues ...
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GST |
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