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Posted Date : 05-Apr-2018 , 03:07:43 pm | Posted By CASANSAAR
Charges for SMS alerts on banking transactions may not squeeze account holders much but can be a reasonable earning for many banks, especially in accounts with meagre monthly transactions though income from SMS alert service goes against the advisory from the sector regulator. While Reserve...
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Posted Date : 05-Apr-2018 , 02:55:50 pm | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has clarified that the pension received by a taxpayer from his former employer is taxable under the head “Salaries”. The Finance Act, 2018 has amended Section 16 of the Income–tax Act, 1961(“the Act”) to provide that a taxpayer h...
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Posted Date : 05-Apr-2018 , 08:49:35 am | Posted By CASANSAAR
Less than half of the staggering Rs 9 lakh crore worth of non-performing assets (NPAs), or bad loans, accumulated by banks had returned due to the system set in place by the Insolvency and Bankruptcy Code (IBC), 2016, the government said on Wednesday. The figure was revealed by Corporate Af...
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Posted Date : 05-Apr-2018 , 08:41:37 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) will today announce its first bi-monthly monetary policy for the new fiscal 2018-19. The Monetary Policy Committee, headed by RBI Governor Urjit Patel, started its 2-day meeting in Mumbai yesterday, amid little hopes of a cut in the key policy rate due to hardening gl...
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Posted Date : 04-Apr-2018 , 03:38:51 pm | Posted By CASANSAAR
It has been decided by the Government to put in place an IT-Grievance Redressal Mechanism to address the difficulties faced by a section of taxpayers owing to technical glitches on the GST portal. In this regard, GST Council has delegated powers to an IT Grievance Redressal Committee to approve and ...
Continue Reading... Category : GST | Comments : 0 | Hits : 349
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Posted Date : 03-Apr-2018 , 11:01:19 pm | Posted By CASANSAAR
Home buyers should be treated as financial creditors which will allow them to equitably participate in an insolvency resolution process, a high-level panel has recommended to the government. The 14-member panel has also suggested relaxations for Micro, Small and Medium Enterprises (MSMEs) u...
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Posted Date : 04-Apr-2018 , 09:27:49 am | Posted By CASANSAAR
Chartered Accountants, Cost Accountants and Company Secretaries may soon come under the ambit of the capital markets regulator. The Securities and Exchange Board of India will issue rules that will put the onus on chartered accountants, company secretaries, cost accountants, valuers and monitoring a...
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Posted Date : 04-Apr-2018 , 09:14:56 am | Posted By CASANSAAR
A high-level panel on reviewing the Insolvency and Bankruptcy Code (IBC) has suggested widening the pool of those who can bid for insolvent companies. Earlier, the government had inserted Section 29 (A) to the Code, debarring related parties and connected persons of defaulting entities from biddi...
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Posted Date : 04-Apr-2018 , 09:04:46 am | Posted By CASANSAAR
Central Vigilance Commissioner K V Chowdary on Tuesday said the Reserve Bank of India had apparently not conducted an audit during the period of time when a Rs 13,000-crore scam hit the Punjab National Bank. Chowdary stressed the need to put into place a more robust auditing system. "They di...
Continue Reading... Category : Auditing | Comments : 1 | Hits : 2502
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Posted Date : 03-Apr-2018 , 04:06:06 pm | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) entered into 14 Unilateral Advance Pricing Agreements (UAPA) and 2 Bilateral Advance Pricing Agreements (BAPA) during the month of March, 2018. The 2 bilateral APAs have been entered into with the United States of America. With the signing of these Agreements...
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Posted Date : 03-Apr-2018 , 02:17:11 pm | Posted By CASANSAAR
The President, in terms of the authority given to him by the Council at its 373rd meeting held on 12th February, 2018, has also nominated CA. Anil S. Bhandari, as member of the said Group. Accordingly, the revised composition of the said Group will be as under:- CA. Manu Agrawal, Convenor CA....
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Posted Date : 03-Apr-2018 , 09:57:39 am | Posted By CASANSAAR
The Reserve Bank of India has allowed banks to spread their bond trading losses, a change that is likely to boost profitability of lenders as well as spur a rally in stock and bond markets. Under the change, lenders can spread bond-trading losses incurred in the December 2017 and March 2018 qua...
Continue Reading... Category : RBI | Comments : 0 | Hits : 350
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Posted Date : 03-Apr-2018 , 09:55:09 am | Posted By CASANSAAR
GST e-way bill was off to a successful start with more than five lakh e-way bills generated till 7 pm on the first working day of its implementation. The roll-out of e-way bill without any glitches came as a relief to businesses who were fearing disruption to trade. With the successful rollout...
Continue Reading... Category : GST | Comments : 0 | Hits : 519
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Posted Date : 03-Apr-2018 , 09:53:12 am | Posted By CASANSAAR
Ambiguity surrounding out-of-court settlements of insolvency cases, such as the one for Binani Cement, might soon be a thing of the past. A high-level panel reviewing the Insolvency and Bankruptcy Code (IBC) has recommended that the committee of creditors (CoC) concerned should be give the powers to...
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Posted Date : 03-Apr-2018 , 09:48:01 am | Posted By CASANSAAR
The revenue collection figures under GST including CGST, SGST, IGST and cess for the period July 2017 – February 2018 paid in the period July 2017 – March 2018 is as follows: (Figures in Rs. Crores) Month GST Collection ...
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Posted Date : 03-Apr-2018 , 09:45:45 am | Posted By CASANSAAR
In exercise of the powers conferred by section 247 read with sections 458, 459 and 469 of the Companies Act, 2013 (18 of 2013), the Central Government, vide Gazette Notification dated 18th October, 2017, published the Companies (Registered Valuers and Valuation) Rules, 2017 (hereafter ‘Rules&r...
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Posted Date : 03-Apr-2018 , 09:42:21 am | Posted By CASANSAAR
The Direct Tax collections for the fiscal year 2017-18 stood at 9(point)95 lakh crore rupees, which is 17(point)1 per cent higher than net collection of 2016-17. The tax collections during the fiscal year 2017-18 has exceeded the budget estimates of 9.80 lakh crore rupees. Briefing...
Continue Reading... Category : Income Tax | Comments : 1 | Hits : 2059
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Posted Date : 02-Apr-2018 , 04:25:34 pm | Posted By CASANSAAR
SIDBI celebrated its foundation day today as day of Sampark (connect), Sanwad (interaction), Suraksha (security) and Sampreshan (disseminate).Chairman Managing Director of SIDBI Shri Mohammad Mustafa launched a series of initiatives from its Lucknow bank headquarters. He mentioned that the occasion ...
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Posted Date : 02-Apr-2018 , 09:35:11 am | Posted By CASANSAAR
India’s bankruptcy law, the Insolvency and Bankruptcy Code (IBC), is set for a major overhaul as policymakers seek to decisively deal with business failures that slow down expansion in Asia’s third-largest economy. The ministry of corporate affairs is finalizing a series of IBC amendm...
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Posted Date : 01-Apr-2018 , 11:03:03 pm | Posted By CASANSAAR
With multiple agencies probing the alleged Rs 13,000-crore fraud at state-run Punjab National Bank, the Reserve Bank of India (RBI) says it has conducted its scrutiny and the matter is currently under examination for “enforcement action”. Replying to an RTI query, the central bank als...
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Posted Date : 02-Apr-2018 , 09:22:04 am | Posted By CASANSAAR
Petrol price today hit a four-year high of 73 rupees 73 paise a litre, while diesel rates touched an all-time high of 64 rupees 58 paise in the national capital. State-owned oil firms, which have been since June last year revising auto fuel prices daily, today raised petrol and diesel rates...
Continue Reading... Category : General | Comments : 0 | Hits : 474
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Posted Date : 02-Apr-2018 , 09:16:37 am | Posted By CASANSAAR
Insolvency and Bankruptcy Board of India (IBBI) released a discussion paper today on regulation of fee payable to insolvency professionals (IPs) and other process costs under Corporate Insolvency Resolution Process (CIRP). The discussion paper is availabl...
Continue Reading... Category : Insolvent Professional | Comments : 0 | Hits : 445
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Posted Date : 02-Apr-2018 , 09:14:21 am | Posted By CASANSAAR
As per decision of the GST Council, e-Way Bill system became mandatory from today i.e. 01st April, 2018 for all inter-State movement of goods. The implementation of the nationwide e-Way Bill mechanism under GST regime is being done by GSTN in association with the National Informatics Centre (N...
Continue Reading... Category : GST | Comments : 0 | Hits : 406
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Posted Date : 01-Apr-2018 , 11:45:02 am | Posted By CASANSAAR
The government has sanctioned GST refunds worth about Rs 12,700 crore or 80 per cent of the eligible claims of exporters, an official said today. The Central Board of Excise and Customs (CBEC) had organised refund facilitation camps in field offices between March 15-31 to assist exporters in fill...
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Posted Date : 01-Apr-2018 , 11:39:15 am | Posted By CASANSAAR
The e-way Bill System for Inter-State movement of goods across the country is being introduced from 01st April 2018. Few clarifications regarding the new e-way bill system are as follows: Situation: -Consider a situation where a consignor is required to move goods from City X to City Z. He appoin...
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Posted Date : 31-Mar-2018 , 06:52:10 am | Posted By CASANSAAR
Bank Branch Audit 2018 - Update on allotment of Branches As per information received, RBI has approved the Bank Branch Audit Pannel. Banks start sending mails for allotment of Branches. Following Banks has start sending emails for allotment of branches as informed by Memb...
Continue Reading... Category : Bank Branch Audit | Comments : 10 | Hits : 20089
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Posted Date : 31-Mar-2018 , 09:34:33 am | Posted By CASANSAAR
Reserve Bank of India's offices and all designated branches of agency banks conducting government banking will keep their counters open up to 8.00 PM today for greater convenience to tax payers. Electronic transactions can also be done till midnight today. The RBI says, centralised payment sy...
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Posted Date : 30-Mar-2018 , 10:58:44 pm | Posted By CASANSAAR
Insolvency and Bankruptcy Board of India (IBBI) is commencing on 31st March, 2018, the conduct of online Valuation examination related to for registration of Valuers under the Companies ( Registered Valuers and Valuation) Rules, 2017. IBBI, being the Authority, in pursuance of the first pro...
Continue Reading... Category : Insolvent Professional | Comments : 0 | Hits : 966
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Posted Date : 30-Mar-2018 , 10:07:50 am | Posted By CASANSAAR
The Securities and Exchange Board of India (SEBI) has tightened the corporate governance norms for listed companies by accepting most of the recommendations of the Kotak Committee while also strengthening the regulations for derivatives and algorithmic trading. At a board meeting held on Wednesda...
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Posted Date : 30-Mar-2018 , 10:02:52 am | Posted By CASANSAAR
The Insolvency and Bankruptcy Board of India (IBBI) on Wednesday notified the Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Amendment) Regulations, 2018 (Amendment Regulations), effective April 1. According to the amendment regulations, subject to meeting other requirements...
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- Income Tax Dept serves notices to salaried individuals for documentary proof to claim exemptions
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- NFRA Imposes Monetary penalty of Rs 1 Crore on M/s Dhiraj & Dheeraj
- ICAI notifies earlier announced CA exam dates despite pending legal challenge before SC
- NFRA debars Auditors, imposes Rs 50 lakh penalties for lapses in Brightcom, CMIL cases
- GST Important Update - Enhancement in the GST Portal
- NFRA Slaps Rs 5 lakh Penalty on Audit Firm for lapses in Vikas WSP Audit Case
- CBDT extends due date for filing Form 10A/10AB upto 30th June, 2024
- RBI comes out with FEMA regulations for direct listing on international exchange
- RBI directs payment firms to track high-value, fishy transactions during elections
- NCLT orders insolvency proceedings against Subhash Chandra
- Income Tax dept starts drive to dispose of appeals, 0.54 million at last count
- Payment of MCA fees –electronic mode-regarding
- Budget '11-12' Parliament Completes Approval Exercise
- Satyam restrained from operating its accounts
- ICICI a foreign firm, subject to FDI norms: Govt
- Maha expects Rs 15 crore entertainment tax revenue from IPL
- CAG blames PMO for not acting against Kalmadi
- No service tax on visa facilitators: CBEC
- Provision of 15-minutes reading and planning time allowance to the candidates of Chartered Accountants Examinations
- Companies Bill to be taken up in Monsoon Session
- File Service Tax Return in time as Maximum Penalty increased 10 times to Rs. 20000
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