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Posted Date : 26-Jan-2017 , 10:07:57 pm | Posted By CASANSAAR
With an estimated Rs 15 lakh crore in junked notes back in the banking system post demonetisation, the Income Tax department has started the process of engaging private entities to match the data with I-T return or other information of assessees. The I-T department has already found that post dem...
Continue Reading... Category : Black Money | Comments : 0 | Hits : 861
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Posted Date : 25-Jan-2017 , 06:06:56 pm | Posted By CASANSAAR
Padma Awards - one of the highest civilian Awards of the country, are conferred in three categories, namely, Padma Vibhushan, Padma Bhushan and Padma Shri. The Awards are given in various disciplines/ fields of activities, viz.- art, social work, public affairs, science and engineering, trade and in...
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Posted Date : 25-Jan-2017 , 07:33:40 am | Posted By CASANSAAR
In an effort to discourage cash transactions throughout the country, the Chief Minister Sub Committee on Digital Payment today recommended to levy banking cash transaction tax (BCTT) on withdrawal of Rs 50,000 from banks. The committee-headed by Andhra Pradesh Chief Minister N Chandra Babu Naidu ...
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Posted Date : 24-Jan-2017 , 10:27:33 pm | Posted By CASANSAAR
Telecom major Bharti Airtel on Monday reported over 54 per cent fall in consolidated net profit to Rs 503.7 for the October-December quarter due to "turbulence" from "predatory pricing" of newcomer Reliance Jio. The company had posted a net profit of Rs 1,108.1 crore in the sa...
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Posted Date : 24-Jan-2017 , 09:55:13 pm | Posted By CASANSAAR
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its post-facto approval for the following decisions: i. National Bank for Agriculture & Rural Development (...
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Posted Date : 24-Jan-2017 , 09:48:59 pm | Posted By CASANSAAR
The concept of Place of Effective Management (POEM) for deciding the Residential Status of a company was introduced by the Finance Act, 2015. It is effective from 01.04.2016 and accordingly shall apply from assessment year 2017-18 onwards. The guidelines for determining the POEM has been uploaded on...
Continue Reading... Category : CBDT | Comments : 0 | Hits : 344
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Posted Date : 24-Jan-2017 , 09:02:01 am | Posted By CASANSAAR
The Election Commission gave its nod to the Centre to present the Union Budget on February 1 ahead of the Assembly polls, but said no schemes related to these poll-bound states can be announced and the Finance Minister’s speech should not refer to the government’s achievements in these s...
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Posted Date : 24-Jan-2017 , 08:41:33 am | Posted By CASANSAAR
In order to encourage banks to provide education loans, RBI has said rescheduling of payment period of such loans due to unemployment of borrower will not be treated as restructured accounts for computing NPAs. Banks may allow up to three spells of moratorium (not exceeding 6 months each) d...
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Posted Date : 24-Jan-2017 , 08:38:03 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) has directed the board of Multi Commodity Exchange of India Ltd (MCX) to commission a special audit of its trading software, according to two people familiar with the development. The software is owned and operated by Financial Technologies India ...
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Posted Date : 24-Jan-2017 , 08:24:59 am | Posted By CASANSAAR
The Income Tax Department has widened its scrutiny of suspicious transactions postdemonetisation to cover term deposit accounts, loan repayments and advance remittances for imports in the postdemonetisation period. A senior official confirmed that after analysing cash deposits made in bank and po...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 278
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Posted Date : 23-Jan-2017 , 10:23:43 pm | Posted By CASANSAAR
The finance ministry reviewing the long-term capital gains (LTCG) taxation regime ahead of the Union Budget 2017-18, in the backdrop of Prime Minister Narendra Modi’s suggestion of increasing contribution of financial market participants to the exchequer. Sources said the review may lead to...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 375
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Posted Date : 23-Jan-2017 , 10:19:25 pm | Posted By CASANSAAR
Central Bureau of Investigation (CBI) has arrested former IDBI chairman in Vijay Mallya loan default case, according to sources. Four executives of Kingfisher Airlines and three more former executives of IDBI Bank were also arrested by CBI, according to reports. Earlier in the day, in a dev...
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Posted Date : 23-Jan-2017 , 05:04:57 pm | Posted By CASANSAAR
Supreme Court on Monday dismissed the plea to change the Budget date from February 1. According to PTI, the Supreme Court dismissed the PIL, filed by ML Sharma, as there was no illustration to support that the presentation of the Budget would influence voters’ mind in state elections. The P...
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Posted Date : 23-Jan-2017 , 05:01:12 pm | Posted By CASANSAAR
The Supreme Court today asked the Centre to apprise it within two weeks about the steps which can be taken to scrutinise the existing and future mobile users in the country. A bench headed by Chief Justice J S Khehar said mobile numbers are now being used for banking purposes also and asked Centr...
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Posted Date : 21-Jan-2017 , 09:10:10 pm | Posted By CASANSAAR
Government today clarified that Co-operative Banks are not authorised to accept deposits under the Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS). The scheme allows assessees to disclose previously unaccounted and undeclared income under its ambit. The PMGKDS permits voluntary declarat...
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Posted Date : 21-Jan-2017 , 09:09:32 pm | Posted By CASANSAAR
Government today clarified that Co-operative Banks are not authorised to accept deposits under the Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS). The scheme allows assessees to disclose previously unaccounted and undeclared income under its ambit. The PMGKDS permits voluntary declarat...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 177
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Posted Date : 21-Jan-2017 , 09:52:17 am | Posted By CASANSAAR
The leading depository NSDL on Friday said it will be applying "very soon" for the final licences to launch a payments bank and hopes to roll out the new entity over the next three months. "We have complied with all the requirements for the final licence and will be making the fina...
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Posted Date : 21-Jan-2017 , 09:43:46 am | Posted By CASANSAAR
The income tax department has received confirmations for over Rs300 crore declarations from across the country till now as part of the ongoing black money window called the Pradhan Mantri Garib Kalyan Yojna (PMGKY), brought out by the government post demonetisation. Officials said I-T department ...
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Posted Date : 19-Jan-2017 , 07:58:58 pm | Posted By CASANSAAR
No. 13-CA (EXAM)/M/2017: 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 Intermediate (IPC) and Final examinations will be held on the dates given below at the following place...
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Posted Date : 19-Jan-2017 , 08:27:39 am | Posted By CASANSAAR
The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi has given its ‘in principle’ approval for listing the following five Government owned General Insurance Companies in the stock exchanges. These are: The New India Assuran...
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Posted Date : 19-Jan-2017 , 08:25:22 am | Posted By CASANSAAR
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval to exclude State Governments States/UTs (with Legislature) except Arunachal Pradesh, Delhi, Kerala and Madhya Pradesh from National Small Savings Fund (NSSF) investments from 01.04.2016. It also appr...
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Posted Date : 19-Jan-2017 , 08:24:23 am | Posted By CASANSAAR
The Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016 (PMGKY) has commenced on 17th December, 2016 and is open for declarations up to 31st March, 2017. CBDT has received queries from stakeholders seeking clarifications about various provisions of the Scheme. The is...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 272
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Posted Date : 18-Jan-2017 , 09:06:28 am | Posted By CASANSAAR
In a minor relaxation to IDS tax payment rules, the Income Tax Department has said disclosures under the scheme will be considered valid even if the tax amount has been realised by December 5. The first instalment of taxes was to be paid by November 30. The government had come out ...
Continue Reading... Category : CBDT | Comments : 0 | Hits : 516
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Posted Date : 18-Jan-2017 , 09:00:47 am | Posted By CASANSAAR
In a bid to soothe the nerves of foreign portfolio investors spooked by a fresh tax burden on indirect transfers mooted by the Central Board of Direct Taxes last month, the finance ministry stepped into the picture on Tuesday and put the tax department missive in abeyance till further notice. The...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 394
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Posted Date : 18-Jan-2017 , 08:58:46 am | Posted By CASANSAAR
As government prepares ground for roll-out of GST from July 1, CAG has demanded explicit provision in the law to empower the official auditor to call for any information for audit of Goods and Service Tax (GST) receipts and utilisation of their funds. While the Comptroller and Auditor Gener...
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Posted Date : 18-Jan-2017 , 08:47:07 am | Posted By CASANSAAR
Applicability of Standards/Guidance Notes/Legislative Amendments etc. for May, 2017 – Final Examination Paper 1: Financial Reporting I. Framework for the Preparation and Presentation of Financial Statements. II. Accounting Standards AS No. AS Title 1 ...
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Posted Date : 18-Jan-2017 , 08:41:39 am | Posted By CASANSAAR
Applicability of Standards/Guidance Notes/Legislative Amendments etc. for May, 2017 – Intermediate (IPC) Examination Paper 1: Accounting Accounting Standards AS 1 : Disclosure of Accounting Policies AS 2 : Valuation of Inventories AS 3 : Cash Flow Statements AS 7 :...
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Posted Date : 18-Jan-2017 , 08:29:33 am | Posted By CASANSAAR
Common Proficiency Test (CPT) held in December, 2016. The details of percentage of candidates passed in the above said examination is given below. Pass Percentage CPT December, 2016 Gender No. of candidates appeared No. of candidates passed Pass Percentage E...
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Posted Date : 17-Jan-2017 , 02:13:44 pm | Posted By CASANSAAR
The Result of Chartered Accountants Final Examination has been declared. The Details of Percentage of candidates passed in the above said examinations are given below. No. of Candidates Passed Candidates Pass % Group - I...
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Posted Date : 17-Jan-2017 , 08:27:43 am | Posted By CASANSAAR
The Institute of Chartered Accounts of India (ICAI) will soon declare the Chartered Accountants (CA) final examination and Common Proficiency Test (CPT) exam result 2016. The Common Proficiency Test (CPT) final examination and Chartered Accountants (CA) was conducted by Institute of Chartered Accoun...
Continue Reading... Category : CA Results | Comments : 1 | Hits : 2314
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