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Posted Date : 03-Feb-2017 , 08:17:08 am | Posted By CASANSAAR
Flagging instances of loan exposures getting seasoned as non-performing assets (NPAs) for three to four years before borrowers were declared as fraudulent, the Reserve Bank of India has called upon bankers to identify and declare loan accounts as fraud without wasting time. During FY16, advances-...
Continue Reading... Category : Banking | Comments : 0 | Hits : 647
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Posted Date : 02-Feb-2017 , 10:58:52 pm | Posted By CASANSAAR
Income Tax Department has asked taxpayers to verify online the deposits they made in their accounts post demonetisation and respond to queries of any mismatch. The department is using data analytics for comparison of deposits made after 8th of November last year with information in its database t...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 1085
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Posted Date : 02-Feb-2017 , 08:24:58 am | Posted By CASANSAAR
Apex body of chartered accountants ICAI said the stringent and bold measures proposed in the Union Budget would ensure transparency in electoral funding. In the Budget, the government has proposed restricting permissible cash donation from any person to a political party at Rs 2,000, among other ...
Continue Reading... Category : Budget | Comments : 0 | Hits : 938
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Posted Date : 02-Feb-2017 , 08:20:32 am | Posted By CASANSAAR
Finance Minister Arun Jaitley on Wednesday proposed to penalise accountants, merchant bankers or registered valuers if they provide incorrect information or certificate. New section 271J proposed to be inserted to provide that penalty of Rs.10,000 would be levied, if an accountant or a merchant b...
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Posted Date : 02-Feb-2017 , 08:14:54 am | Posted By CASANSAAR
Taxpayers who do not file their income tax returns (ITRs) on time will have to shell out a penalty of up to Rs10,000, but from the 2018-19 Assessment Year (AY). “In order to ensure that return is filed within due date, it is proposed to insert a new section 234F in the Act (I-T Act) to prov...
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Posted Date : 02-Feb-2017 , 07:57:51 am | Posted By CASANSAAR
The Union Budget 2017 was laid before the Parliament today by the Hon’ble Finance Minister of India. The salient features of Direct Tax proposals are summarised below: I. Affordable Housing: 1. &nb...
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Posted Date : 01-Feb-2017 , 02:32:55 pm | Posted By CASANSAAR
Finance Minister reduces the tax rate from 10 to 5 per cent for individual income between Rs 2.5 to Rs 5 lakh. Finance Minister appeals to all citizens to contribute to Nation Building by making a small payment of 5 per cent tax if their income is falling in this slab. A simple one...
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Posted Date : 01-Feb-2017 , 02:29:36 pm | Posted By CASANSAAR
The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley while presenting the General Budget 2017-18, in Parliament today, said that this Budget is the First combined Budget of Independent India that includes the Railways. He said that India is now in a position to synergize the inves...
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Posted Date : 01-Feb-2017 , 02:25:51 pm | Posted By CASANSAAR
The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitely while presenting the General Budget 2017-18 in Parliament today said that the political party can receive maximum donation up to Rs. 2,000 in cash from one person. Proposing steps towards transparent funding of political parties...
Continue Reading... Category : ITR | Comments : 0 | Hits : 610
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Posted Date : 01-Feb-2017 , 02:13:55 pm | Posted By CASANSAAR
While presenting the General Budget 2017-18 in Lok Sabha here today, the Union Finance Minister, Shri Arun Jaitley proposed that the Foreign Investment Promotion Board (FIPB) will be phased-out in the next fiscal. Expressing concern over dubious deposit schemes, Shri Jaitley said that a Bill will so...
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Posted Date : 01-Feb-2017 , 02:11:12 pm | Posted By CASANSAAR
In a bid to give a push to Digital Economy and weed-out corruption and black money, the Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley in his Budget Speech today said that the Government has decided that no transaction above Rs 3 lakh will be permitted in cash. Accepting a sugge...
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Posted Date : 01-Feb-2017 , 02:09:27 pm | Posted By CASANSAAR
The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley while presenting the General Budget 2017-18 in Parliament today said that the present burden of taxation is mainly on honest tax payers and salaried employees who are showing their income correctly. He said that the Government i...
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Posted Date : 01-Feb-2017 , 02:07:00 pm | Posted By CASANSAAR
While presenting the General Budget 2017-18 in Lok Sabha here today, the Union Finance Minister Shri Arun Jaitley has said that the shares of Railway Public Sector Enterprises (PSEs) like IRCTC, IRFC and IRCON will be listed in stock exchanges. The Government will encourage strengthening the CP...
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Posted Date : 01-Feb-2017 , 02:04:23 pm | Posted By CASANSAAR
Presumptive income scheme for audit of entities raised from Rs. 1 crore to Rs. 2 crore; Threshold for maintenance of books for individuals and HUF more than doubled Individual Insurance agents earning below taxable limit to be exempted from 5% TDS off commission after filing self-...
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Posted Date : 01-Feb-2017 , 02:02:53 pm | Posted By CASANSAAR
The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley while presenting the General Budget 2017-18 in Parliament today said that the GST Council has finalised its recommendations on almost all the issues based on consensus after spirited debate and discussions. The Finance Mini...
Continue Reading... Category : GST | Comments : 0 | Hits : 323
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Posted Date : 01-Feb-2017 , 02:01:23 pm | Posted By CASANSAAR
The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley while presenting the General Budget 2017-18 in Parliament today announced substantial relief in Customs and Excise Duties for Renewable Energy Sector and for manufacture of Cashless Transaction Devices. In a bid to incentiviz...
Continue Reading... Category : Budget | Comments : 0 | Hits : 250
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Posted Date : 01-Feb-2017 , 01:03:29 pm | Posted By CASANSAAR
FM Arun Jaitley to present Union Budget 2017 today. CASANSAAR are providing you live updates of Union Budget 2017. JUST REFRESH THE PAGE (CLICK F5) FOR ALL LIVE UPDATES. Lok Sabha adjourned after Arun Jaitley introduces Finance Bill GST Council finalised its recommendations; impleme...
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Posted Date : 01-Feb-2017 , 08:53:17 am | Posted By CASANSAAR
Hon'ble Finance Minister's Presentation of Union Budget 2017 in the Parliament on 01st Feb 2017. ...
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Posted Date : 01-Feb-2017 , 08:48:50 am | Posted By CASANSAAR
Economic Survey says economic growth to return to normal as new currency notes in required quantities come back into circulation and follow-up action on demonetisation is taken. The CPI based core inflation remained stable in the current fiscal year averaging around 5 per cent. The Economi...
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Posted Date : 01-Feb-2017 , 08:36:02 am | Posted By CASANSAAR
Finance Minister Arun Jaitley will present the Union Budget in Parliament today. There will be no separate Rail Budget from this year, as it has been merged with the General Budget. Yesterday, the Economic Survey was presented in the Parliament. After presenting the Budget, Mr Jait...
Continue Reading... Category : Budget | Comments : 0 | Hits : 267
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Posted Date : 01-Feb-2017 , 08:22:43 am | Posted By CASANSAAR
The Income Tax department has identified 18 lakh people who have made 'suspicious' cash deposits post demonetisation, including those having deposited over Rs 5 lakh, and will send emails and SMSes seeking explanation about their source of funds. These people will have to reply within 10 ...
Continue Reading... Category : CBDT | Comments : 0 | Hits : 679
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Posted Date : 31-Jan-2017 , 12:00:55 pm | Posted By CASANSAAR
The Result of Chartered Accountants IPC Examination has been declared. The Details of Percentage of candidates passed in the above said examinations are given below. No. of Candidates Passed C...
Continue Reading... Category : CA Results | Comments : 0 | Hits : 2033
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Posted Date : 31-Jan-2017 , 09:38:09 am | Posted By CASANSAAR
Jan Dhan accounts have witnessed net withdrawal of Rs5,582.83 crore since 7 December, the day deposits in these accounts soared to all time high in the backdrop of demonetisation. Total deposits in Jan Dhan accounts had increased to a record high of Rs74,610 crore on 7 December and thereafter, it...
Continue Reading... Category : Banking | Comments : 0 | Hits : 261
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Posted Date : 31-Jan-2017 , 09:35:04 am | Posted By CASANSAAR
Circuit benches of Income Tax Appellate Tribunal (ITAT) will hold regular sittings at Guwahati, Coimbatore, and Madurai. ITAT has proposed setting up of video courts in these cities to go with such video courts already functional at Rajkot, Jabalpur, Nagpur, Raipur and Surat, Dev Darshan Sud, presid...
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Posted Date : 31-Jan-2017 , 09:12:08 am | Posted By CASANSAAR
In a big relief to people, RBI today announced lifting of restrictions on daily withdrawal of money from ATMs with effect from Wednesday. and has also withdrawn all limits on Current Accounts and overdraft accounts with immediate effect. In a circular to the banks, the RBI, however, said the week...
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Posted Date : 31-Jan-2017 , 09:07:33 am | Posted By CASANSAAR
Income Tax department has initiated action under the newly enforced Benami Act. IT Department said, post demonetisation it has issued 87 notices and attached bank deposits worth crores in 42 cases nationwide under Benami Transactions Act. The Act attracts a heavy penalty and rigorous jail term of a ...
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Posted Date : 30-Jan-2017 , 01:36:06 pm | Posted By CASANSAAR
You may be aware that the present fee of Rs.5500/- for General Management and Communication Skills Course was fixed way back in 2013 and has not undergone any revision during the last four years. Considering the above, the Council has decided to revise the fee for the course on General Mana...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 693
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Posted Date : 30-Jan-2017 , 08:07:39 am | Posted By CASANSAAR
To plug tax loopholes, the I-T department will use Big Data analytics to track down evaders by collecting information such as common address, mobile number and e-mail to establish relationship between their multiple PANs. The department, with support from private firms, will analyse the voluminou...
Continue Reading... Category : PAN | Comments : 0 | Hits : 423
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Posted Date : 30-Jan-2017 , 08:00:41 am | Posted By CASANSAAR
About 70,000 tax officers and employees in the country will wear black bands at work tomorrow, on Martyrs Day, to protest some recent decisions taken by the GST Council headed by Finance Minister Arun Jaitley. The associations representing them said the decisions are heavily tilted towards the st...
Continue Reading... Category : GST | Comments : 0 | Hits : 406
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Posted Date : 27-Jan-2017 , 08:11:41 pm | Posted By CASANSAAR
The result of the Chartered Accountants Intermediate (Integrated Professional Competence) Examination held in November, 2016 is likely to be declared on Tuesday, the 31st January 2017 around 6.00 P.M. and the same as well as the merit list (candidates securing a minimum of 55% and above marks and up...
Continue Reading... Category : CA Results | Comments : 0 | Hits : 771
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