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Posted Date : 03-Jan-2018 , 08:54:39 am | Posted By CASANSAAR
Bitcoins or such crypto-currencies are not legal tender and those indulging in such transactions are doing it at their own risk, Finance Minister Arun Jaitley said today as MPs expressed concern over trading on these platforms. During the Question Hour in Rajya Sabha, DMK member Kanimozhi sought ...
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Posted Date : 02-Jan-2018 , 08:47:48 am | Posted By CASANSAAR
The Finance Ministry has permitted businesses to rectify mistakes in their monthly returns - GSTR-3B - and adjust tax liability, a move that will help them file correct returns without fear of penalty. This relaxation will give an opportunity to businesses to claim tax credit correctly by r...
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Posted Date : 02-Jan-2018 , 08:45:06 am | Posted By CASANSAAR
The income tax department on Monday notified a new helpline number for taxpayers who e-file their returns and conduct other tax-related businesses online. The department issued an advisory and said: “Attention taxpayers: e-Filing help desk number has been changed. New Help desk number is: I...
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Posted Date : 02-Jan-2018 , 08:34:02 am | Posted By CASANSAAR
The Central Government notified the commencement of section 247 (relating to valuers) of the Companies Act, 2013 with effect from 18th October, 2017. It also notified the Companies (Registered Valuers and Valuation) Rules, 2017 on 18th October, 2017. Vide a notification dated 23rd October, 2017, ...
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Posted Date : 01-Jan-2018 , 11:05:56 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India has suggested the government to make PAN compulsory on air-ticket bookings for overseas package tours to bring high value transactions into the data system. In its pre-Budget memorandum with regards to direct taxes, the Chartered Accountants' apex ...
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Posted Date : 29-Dec-2017 , 07:02:50 pm | Posted By CASANSAAR
The Government is in favour of an independent regulator to oversee compliance with accounting and auditing standards as well as for oversight of audit professionals, Parliament was informed today. However, the Institute of Chartered Accountants of India (ICAI) is of the view that existing framewo...
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Posted Date : 29-Dec-2017 , 07:26:02 am | Posted By CASANSAAR
December 28, 2017 FOR INFORMATION OF THE MEMBERS Subject: Extension of last date “for complying with the CPE hours requirement for the Calendar Year 2017” - from 31st December, 2017 to 28th February, 2018 This is for kind information of the members that the last date for compl...
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Posted Date : 29-Dec-2017 , 06:44:45 pm | Posted By CASANSAAR
The government has extended by 10 days the last date for filing of final sales return GSTR-1 till January 10 under the Goods and Services Tax, sources said. Businesses with turnover of up to Rs. 1.5 crore will have to file GSTR-1 for July-September by January 10, 2018, as against December 31, 2017 e...
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Posted Date : 29-Dec-2017 , 06:39:53 pm | Posted By CASANSAAR
The Lok Sabha today passed the Insolvency and Bankruptcy Code (Amendment) Bill -2017 with a voice vote. The bill prohibits certain persons from submitting a resolution plan in case of defaults. These include wilful defaulters, promoters or management of the company having an outsta...
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Posted Date : 29-Dec-2017 , 11:21:21 am | Posted By CASANSAAR
The recent Bitcoin surge has triggered a ponzi scheme fear, forcing the finance ministry to flag it on Friday. "VCs (virtual currencies) such as bitcoins don't have any intrinsic value and are not backed by any kind of assets. The price of bitcoin and other VCs therefore is entirel...
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Posted Date : 29-Dec-2017 , 11:12:51 am | Posted By CASANSAAR
The government will give promoters of insolvent companies more time to repay their dues and participate in the resolution process of bankrupt companies in the Bill that will replace the ordinance that was promulgated last month to amend the Insolvency and Bankruptcy Code (IBC), ET has learnt. The ch...
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Posted Date : 29-Dec-2017 , 09:32:25 am | Posted By CASANSAAR
Markets regulator Sebi decided to relax entry norms for foreign portfolio investors (FPIs) willing to invest in the Indian markets. Besides, Sebi would allow listing of security receipts issued by an asset reconstruction company (ARC) on stock exchange platform. This will enhance capital ...
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Posted Date : 28-Dec-2017 , 09:47:50 am | Posted By CASANSAAR
The market regulator Sebi may mandate all listed entities to start disclosing the first instance of a default to a bank or financial institution within one working day, ET Now learns from reliable sources. This is one of the big items for discussion for the Sebi board meet scheduled for T...
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Posted Date : 27-Dec-2017 , 09:49:04 pm | Posted By CASANSAAR
The government on Wednesday cut the interest rate on small savings schemes, including public provident fund (PPF), national savings certificate (NSC) and Kisan Vikas Patra, by 0.2 percentage points for the January-March quarter, a move that will prompt banks to lower deposit rates. Interest rates...
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Posted Date : 27-Dec-2017 , 09:46:34 pm | Posted By CASANSAAR
Tax payers can now view the status of the returns filed by them on the GST Network portal, the company handling the technology backbone of the new indirect tax system said today. "All users logging on the GST portal can now see the status of their returns filed for all the returns like GSTR-...
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Posted Date : 27-Dec-2017 , 09:45:01 pm | Posted By CASANSAAR
The Lok Sabha on Wednesday passed the Goods and Services Tax (Compensation to States) Amendment Bill- 2017 amid uproar by the opposition Congress and TMC. The Bill will replace Ordinance which was promulgated in September this year. It amends the Goods and Services Tax (Compensation to Stat...
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Posted Date : 27-Dec-2017 , 09:14:15 am | Posted By CASANSAAR
Revenue collection from Goods and Services Tax (GST) for the month of November slipped further to Rs 80,808 crore, lowest since the implementation of the indirect tax system from July 1. The dip in revenue collection was mainly due to a decline in overall incidence of taxes on most commodities, e...
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Posted Date : 26-Dec-2017 , 01:13:03 pm | Posted By CASANSAAR
Union Home Ministry has directed all NGOs, business entities and individuals who receive funds from abroad to open accounts in any of the 32 designated banks, within a month for higher level of transparency. According to the ministry order, the directive to the NGOs, companies and individuals to ...
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Posted Date : 26-Dec-2017 , 12:38:10 pm | Posted By CASANSAAR
As the government gets down to the business of drawing up the budget, there is a growing view among some influential sections that there should not be any spending cut on key programmes to meet the fiscal deficit target. The reasoning is that fiscal slippage, if any, is likely to be from th...
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Posted Date : 25-Dec-2017 , 07:46:17 am | Posted By CASANSAAR
Education loans too have started bleeding the banking sector with the default in repayment rising to 7.67 per cent of the outstanding amount at March-end, 2017 from 5.7 per cent two years ago. As per the data compiled by the Indian Banks' Association (IBA), the total outstanding education loan a...
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Posted Date : 23-Dec-2017 , 07:22:50 am | Posted By CASANSAAR
The government introduced a bill in the Lok Sabha that would replace an ordinance wherein tax rates on various motor vehicles were hiked to a maximum of 25 per cent under the Goods and Services Tax (GST). Finance Minister Arun Jaitley introduced the GST (Compensation to States) Amendm...
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Posted Date : 22-Dec-2017 , 07:42:18 pm | Posted By CASANSAAR
In order to ensure uniformity of disclosures in applications, Securities and Exchange Board of India (Sebi) on Friday issued a standard format for companies to file for such request under the ‘takeover’ norms with the markets regulator. Under the standard format of application under s...
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Posted Date : 23-Dec-2017 , 07:03:40 am | Posted By CASANSAAR
Dismissing rumours, the government today said there is no question of closure of any public sector bank. In a tweet, Financial Services Secretary Rajeev Kumar said the government is strengthening these banks by re-capitalisation plan of 2.11 lakh crore rupees. He appealed to the pe...
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Posted Date : 22-Dec-2017 , 09:06:46 am | Posted By CASANSAAR
The National Company Law Tribunal (NCLT) has granted Bhushan Steel’s committee of creditors (CoC) permission to extend the resolution period by 90 days beyond the initial 180-day time frame. On a plea of State Bank of India, Bhushan Steel was admitted in the insolvency court on July 26, under ...
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Posted Date : 22-Dec-2017 , 09:04:06 am | Posted By CASANSAAR
The number of disciplinary cases registered against chartered accountants (CA) in the first six months of this year was twice as many as that of the same period in 2016, a reply to a Right to Information (RTI) plea has disclosed. These cases involve members of the Institute of Chartered Accountan...
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Posted Date : 21-Dec-2017 , 09:19:33 am | Posted By CASANSAAR
The enforcement directorate (ED) plans to scrutinize bitcoin exchanges to check for potential violations of foreign exchange rules by the exchanges and cryptocurrency investors, said two ED officials aware of the matter. The move follows a survey by the income-tax (I-T) department to determine ho...
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Posted Date : 21-Dec-2017 , 09:12:34 am | Posted By CASANSAAR
In continuation of its efforts to place more and more information in public domain, the Central Board of Direct Taxes(CBDT) has released data relating to distribution of income and tax payable in respect of returns filed for the Assessment Year 2015-16. With this release, detailed income-tax data fo...
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Posted Date : 21-Dec-2017 , 09:07:33 am | Posted By CASANSAAR
Capital market regulator, Securities and Exchange Board of India (Sebi), yesterday, raised the investment limit for foreign portfolio investors in central government securities to over 1(point)91 lakh crore from next month. Currently, investment limit for foreign portfolio investors is 1.89...
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Posted Date : 19-Dec-2017 , 08:43:25 pm | Posted By CASANSAAR
The government is set to roll out a pan-India "faceless and nameless" e-assessment procedure for income tax payers from 2018 with the CBDT constituting a high-level committee to prepare a quick roadmap for the implementation of this ambitious proposal. The Central Board of Di...
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Posted Date : 20-Dec-2017 , 08:09:04 am | Posted By CASANSAAR
Gross Non-performing Assets (NPAs) of banks crossed Rs 8.50 lakh crore at the end of September 2017, Minister of State for Finance Shiv Pratap Shukla informed the Lok Sabha. "Reserve Bank of India (RBI) has informed that the growth in provisions for NPAs of Public Sector Banks (PSBs) i...
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- CBDT extends due date for filing Form 10A/10AB upto 30th June, 2024
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- RBI directs payment firms to track high-value, fishy transactions during elections
- NCLT orders insolvency proceedings against Subhash Chandra
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- Payment of MCA fees –electronic mode-regarding
- Budget '11-12' Parliament Completes Approval Exercise
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- Maha expects Rs 15 crore entertainment tax revenue from IPL
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- File Service Tax Return in time as Maximum Penalty increased 10 times to Rs. 20000
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