-
Posted Date : 07-Jun-2022 , 08:15:48 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on June 6 imposed a monetary penalty on Bassein Catholic Co-operative Bank and Jila Sahakari Kendriya Bank Maryadit for non-compliance with certain directives issued by it. The central bank imposed a monetary penalty of Rs 49 lakh on Bassein Cat...
Continue Reading... Category : RBI | Comments : 0 | Hits : 396
-
Posted Date : 04-Jun-2022 , 09:03:51 am | Posted By CASANSAAR
In a bid to prevent Chinese companies from circumventing Indian laws to do business in the country, the government has come up with a notification that requires land border-sharing nations' citizens who are appointed as directors on boards of companies to obtain a security clearance. &nb...
Continue Reading... Category : Companies Act | Comments : 0 | Hits : 1295
-
Posted Date : 04-Jun-2022 , 08:58:02 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Friday imposed a monetary penalty of ₹27.50 lakh on a public sector bank, Punjab & Sind Bank for non-compliance with certain directions of the central bank. The penalty was for non-compliance with RBI directions on ‘External B...
Continue Reading... Category : RBI | Comments : 0 | Hits : 959
-
Posted Date : 02-Jun-2022 , 08:28:00 am | Posted By CASANSAAR
The Gross Goods and Services Tax, GST revenue collections in the month of May 2022 remained at one lakh 40 thousand and 885 crore rupees. This is the fourth time when the GST collection crossed 1.40 lakh crore mark since its inception and third month at a stretch since March 2022. ...
Continue Reading... Category : GST | Comments : 0 | Hits : 664
-
Posted Date : 28-May-2022 , 08:39:52 am | Posted By CASANSAAR
The Centre speed up the process of privatising two State-owned banks. News agency PTI quoted a source from the Centre as saying on Wednesday. The Modi government at the Centre had earlier amended the 'Banking Regulation Act' to pave the way for private investment in State-owned banks. Accord...
Continue Reading... Category : Banking | Comments : 0 | Hits : 853
-
Posted Date : 27-May-2022 , 11:05:03 am | Posted By CASANSAAR
Tax authorities will now face action if a taxpayer makes voluntary payment of tax during a search. In a move aimed at curbing instances of use of force or coercion, the Central Board of Indirect Taxes and Customs (CBIC) has directed its field formations that recovery of tax dues should be made follo...
Continue Reading... Category : GST | Comments : 0 | Hits : 695
-
Posted Date : 26-May-2022 , 08:47:21 am | Posted By CASANSAAR
In exercise of the powers conferred under Section 45-IA (6) (iv) of the Reserve Bank of India Act, 1934, the Reserve Bank has cancelled the Certificate of Registration (CoR) issued to the following five Non-Banking Financial Companies (NBFCs): Sr. No. Name ...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 809
-
Posted Date : 24-May-2022 , 04:12:40 pm | Posted By CASANSAAR
The RBI on Monday said it has set up a committee to evaluate the efficacy, adequacy and quality of customer service in banks, NBFCs, and other entities regulated by it. The six-member committee headed by former RBI deputy governor B P Kanungo has been asked to submit a report ...
Continue Reading... Category : RBI | Comments : 0 | Hits : 695
-
Posted Date : 24-May-2022 , 09:00:13 am | Posted By CASANSAAR
Amid some chartered accountants coming under the scanner for alleged fraudulent GST refunds, Finance Minister Nirmala Sitharaman held discussions with a delegation of chartered accountants' apex body Institute of Chartered Accountants of India (ICAI) on "various issues" on Monday. ...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 782
-
Posted Date : 24-May-2022 , 08:47:48 am | Posted By CASANSAAR
To oppose blatant privatisation of public sector banks, lakhs of employees associated with the two public sector banks – Bank of Baroda and Central Bank of India – have announced two-day nationwide strike on May 30-31. Bank of Baroda is the third largest public sec...
Continue Reading... Category : Banking | Comments : 0 | Hits : 691
-
Posted Date : 24-May-2022 , 08:40:07 am | Posted By CASANSAAR
As part of the Statement on Developmental and Regulatory Policies released along with the Monetary Policy Statement on April 08, 2022, the Reserve Bank of India had announced setting up of a Committee for Review of Customer Service Standards in RBI Regulated Entities (REs) for examini...
Continue Reading... Category : RBI | Comments : 0 | Hits : 370
-
Posted Date : 21-May-2022 , 09:08:57 am | Posted By CASANSAAR
The Central GST office here was locked for several hours by chartered accountants on Thursday night as a protest against the arrest of two fellow CAs over an alleged Rs 15-crore GST refund scam. On Friday, the police said the protest by the CAs is still continuing but the GST office has been allowed...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 629
-
Posted Date : 20-May-2022 , 08:26:16 am | Posted By CASANSAAR
In a significant verdict, the Supreme Court Thursday ruled that the recommendations of Goods and Services Tax (GST) Council are not binding on the Union and the states and only have a persuasive value. The Supreme Court said that Parliament and state legislatures possess simul...
Continue Reading... Category : Finance | Comments : 0 | Hits : 502
-
Posted Date : 18-May-2022 , 07:37:38 am | Posted By CASANSAAR
The due date of payment of tax for the month of April, 2022 by taxpayers under QRMP scheme in FORM GST PMT-06 has been extended till 27th May, 2022 (refer notification No. 06/2022-Central Tax dated 17.05.2022...
Continue Reading... Category : GST | Comments : 0 | Hits : 569
-
Posted Date : 18-May-2022 , 07:31:38 am | Posted By CASANSAAR
The due date for filing FORM GSTR-3B for the month of April, 2022 has been extended till 24th May, 2022 (refer notification No. 05/2022-Central Tax dated 17.05.2022)...
Continue Reading... Category : GST | Comments : 0 | Hits : 525
-
Posted Date : 18-May-2022 , 07:24:32 am | Posted By CASANSAAR
Members are hereby informed that the next Information Systems Audit (ISA) Course Assessment Test (Old as well as New Syllabus) which is open to the members of the Institute will be held on 9th July 2022 (Saturday) from 9 AM to 1 PM (IST) at the following cities provided that sufficient number of can...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 518
-
Posted Date : 13-May-2022 , 09:17:42 am | Posted By CASANSAAR
In an important judgment, the Supreme Court on Wednesday ruled that state laws cannot apply to over 9,500 non-banking financial companies (NBFCs) registered with the Reserve Bank of India (RBI). Sawing off attempts by the Kerala and Gujarat governments to bring the NBFCs under the purview of th...
Continue Reading... Category : RBI | Comments : 0 | Hits : 834
-
Posted Date : 12-May-2022 , 08:55:19 am | Posted By CASANSAAR
To strengthen the regulatory framework for collective investment schemes, markets regulator Sebi has enhanced the net worth criteria and track record requirements for entities managing such schemes. Also, the regulator has mandated a minimum of 20 investors and a subscription amount of at least...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 437
-
Posted Date : 11-May-2022 , 11:17:21 am | Posted By CASANSAAR
Central Bureau of Investigation conducted raids at 40 locations linked to NGO representatives, their middlemen, and home ministry officials for allegedly facilitating violation of foreign funding rules. Raids were conducted at multiple locations in Delhi, Chennai, Hyderabad, Coimbatore, Mysore, and ...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 1642
-
Posted Date : 09-May-2022 , 08:17:52 am | Posted By CASANSAAR
The cost accountants’ institute has requested the government to consider allowing cost and management accountants to conduct financial audit of MSMEs and private limited companies. The Institute of Cost Accountants of India, set up under an Act of Parliament, has around 90,000 members and...
Continue Reading... Category : ICWAI | Comments : 0 | Hits : 1961
-
Posted Date : 08-May-2022 , 09:13:08 am | Posted By CASANSAAR
The ED on Saturday arrested a chartered accountant under the anti-money laundering law in a case linked to alleged embezzlement of MGNREGA funds in Jharkhand's Khunti district as part of which state mining secretary and IAS officer Pooja Singhal and others were raided, officials said. ...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 745
-
Posted Date : 08-May-2022 , 09:08:54 am | Posted By CASANSAAR
State-owned Central Bank of India has not yet decided on a possible extensive branch closure plan this fiscal year, the lender said on Saturday days after Reuters reported it planned to shut some branches to improve its financial health. On Thursday, Reuters cited sources and a document saying ...
Continue Reading... Category : Banking | Comments : 0 | Hits : 516
-
Posted Date : 06-May-2022 , 07:53:20 am | Posted By CASANSAAR
A tax auditor’s office and home premises were raided, and the auditor was arrested by tax sleuths from the enforcement wing of the Commercial Taxes department and local police. The auditor was found to be involved in a fake ‘Input Tax Credit’ racket/. Input Tax Credit me...
Continue Reading... Category : Auditing | Comments : 0 | Hits : 3974
-
Posted Date : 06-May-2022 , 07:53:09 am | Posted By CASANSAAR
Central Bank of India, a state-owned commercial bank, plans to shut 13% of its branches to improve its financial health, which has been under pressure for several years, according to sources and a document seen by Reuters. The bank is looking to reduce the number of branches by 600 by either sh...
Continue Reading... Category : Banking | Comments : 0 | Hits : 3860
-
Posted Date : 05-May-2022 , 07:57:35 am | Posted By CASANSAAR
Nearly 90,000 reassessment notices that were issued by the income tax (I-T) department after April 1, 2021 under the provisions of the unamended section 148 have been held as valid by the Supreme Court (SC). These reassessment notices had been challenged in as many as 9,000 writ petitions acros...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 4386
-
Posted Date : 02-May-2022 , 09:45:21 am | Posted By CASANSAAR
Goods and services tax (GST) collections hit an all-time high of ₹1.68 lakh crore in April, indicating strong economic activity despite multiple headwinds and better tax compliance. The April number is up 20% from the year earlier and ₹25,000 crore more than the previous highest of â‚...
Continue Reading... Category : GST | Comments : 0 | Hits : 1058
-
Posted Date : 30-Apr-2022 , 07:26:23 am | Posted By CASANSAAR
The timeline to update #UDIN is extended till 31st May 2022 to give more time to CAs to correctly verify and upload UDINs. https://twitter.com/casansaar/status/1520208877664751616...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 584
-
Posted Date : 28-Apr-2022 , 08:34:05 am | Posted By CASANSAAR
Canada’s immigration minister Sean Fraser has announced Express Entry invitations to FSWP and CEC candidates will resume by “early July 2022” The vast majority of new Express Entry applications will be processed within the six-month service standard. According to IRCC, current...
Continue Reading... Category : International Business | Comments : 0 | Hits : 1204
-
Posted Date : 27-Apr-2022 , 09:12:24 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) has issued a detailed set of instructions to auditors to ensure that the financial statements of companies they audit comply with the government’s new investment reporting requirements. The guidance note issued by the self-regulator o...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 5253
-
Posted Date : 25-Apr-2022 , 08:39:42 am | Posted By CASANSAAR
As per some latest reports, the government of India has now started inviting bids from many companies for their privatization. Additionally, the process of privatization of PSBs is also on the verge of beginning, despite the strikes being held against it. As per reports, the governme...
Continue Reading... Category : Banking | Comments : 0 | Hits : 1250
- Income Tax Dept serves notices to salaried individuals for documentary proof to claim exemptions
- Bank Branch Audit 2021 - Update on allotment of Branches
- Bank Branch Audit 2020 Updates
- Bank Branch Audit 2021 Updates
- Bank Branch Audit 2020 - Update on Allotment of Branches
- Police Atrocities towards CA in Faridabad - Its Time to be Unite
- Bank Branch Statutory Audit Updates 2019
- Bank Branch Statutory Audit Updates
- Bank Branch Audit 2022 Updates
- Bank Branch Statutory Audit Updates
- 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
Professional News For CA,CS,CMA.Fresh Accounting News Articles On Income Tax,Service Tax,Sales Tax, Vat,Company Law,RBI,CAG,Custom,Excise On CASANSAAR
