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Posted Date : 11-Mar-2022 , 08:14:04 pm | Posted By CASANSAAR
Through extensive analysis of E-way bills, CGST Delhi East Commissionerate had busted a syndicate of five firms who were engaged in availing and utilising fake Input Tax Credit (ITC) of Goods and Services Tax (GST). During further investigation it was found that this syndicate was using two mor...
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Posted Date : 11-Mar-2022 , 08:09:24 pm | Posted By CASANSAAR
The government has appointed State Bank of India (SBI) managing director Ashwani Bhatia as whole-time member (WTM) of the Securities and Exchange Board of India (SEBI). The Appointments Committee of the Cabinet (ACC) has approved the appointment of Bhatia as a member initially for a period of...
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Posted Date : 10-Mar-2022 , 11:17:28 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has clarified on the mode of receipt of complaints under the integrated ombudsman scheme(RB-IOS), saying it has taken note of various instances of misinformation being spread through social media about the scheme. Instances of misinformation being spread through ...
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Posted Date : 10-Mar-2022 , 08:39:43 am | Posted By CASANSAAR
The government has appointed economic affairs secretary Ajay Seth and corporate affairs secretary Rajesh Verma as part-time members to the board of capital markets regulator Sebi. They will replace Anand Mohan Bajaj, additional secretary in the department of economic affairs, and KVR Murty, joint se...
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Posted Date : 09-Mar-2022 , 10:01:52 am | Posted By CASANSAAR
RBI launched UPI for feature phones called UPI123pay. RBI governor Shaktikanta Das launched the UPI123pay and also launched a 24x7 helpline for digital payments in Mumbai. This new initiative by RBI will facilitate use of UPI with text and allow feature phone users to seamlessly perform various fina...
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Posted Date : 08-Mar-2022 , 09:16:12 am | Posted By CASANSAAR
Union Finance Minister Nirmala Sitharaman on Monday came down heavily on the tax boards for allegedly not responding to grievances of the tax assessees and directed their officials to reserve Saturdays to hold meetings with them. During the Budget Outreach Programme between Finance Ministry off...
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Posted Date : 05-Mar-2022 , 09:00:51 am | Posted By CASANSAAR
As the members are aware, Government of India has mandated procurement of goods and services by Government Department/organisations through GeM (Government e- marketplace) portal. The Institute has been receiving queries as to whether Chartered Accountants in Practice/Firms of Chartered Accou...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 1072
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Posted Date : 04-Mar-2022 , 09:32:34 am | Posted By CASANSAAR
CBIC cautioned the public against sharing Aadhaar and PAN details without a valid reason or for monetary gains, saying that the information could be misused by fraudsters for GST evasion. In a tweet, the Central Board of Indirect Taxes and Customs (CBIC) said Aadhaar and PAN details can be used...
Continue Reading... Category : GST | Comments : 0 | Hits : 1143
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Posted Date : 04-Mar-2022 , 09:19:37 am | Posted By CASANSAAR
Generation of e-invoice is mandatory for certain class of taxpayers, as notified by the Government. These taxpayers are required to prepare & issue their e-invoices by reporting their invoice data in the prescribed format (e-invoice schema in FORM GST INV-01) and reporting the same on ...
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Posted Date : 01-Mar-2022 , 06:45:38 pm | Posted By CASANSAAR
Finance Ministry said that more than one lakh 33 thousand crore rupees Gross GST Revenue was collected during the month of February. It said that the collection of revenues for the month of February this year is 18 percent higher than the GST revenues in the same month last year and 26 perce...
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Posted Date : 01-Mar-2022 , 10:28:03 am | Posted By CASANSAAR
The CBI has sought sanction to prosecute then Punjab National Bank (PNB) managing director and chief executive officer Usha Ananth Subramanian and executive directors K. V. Brahmaji Rao and Sanjiv Sharan in connection with the bank fraud case against fugitive Mehul Choksi’s Gitanjali group of ...
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Posted Date : 01-Mar-2022 , 10:22:31 am | Posted By CASANSAAR
Madhabi Puri Buch has been named the chairperson of Securities and Exchange Board of India (SEBI), the first woman to head the capital market regulator as the tenure of incumbent Ajay Tyagi ends on February 28. Madhabi Puri Buch, a former SEBI Whole Time Member, was previously nominated to lead...
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Posted Date : 26-Feb-2022 , 09:43:04 am | Posted By CASANSAAR
In terms of Government of India Notification No.4(5)-B(W&M)/2021 dated October 21, 2021, Sovereign Gold Bonds 2021-22 (Series X) will be opened for subscription during the period February 28- March 04, 2022 with Settlement date March 08, 2022. The issue price of the Bond during the subscription ...
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Posted Date : 25-Feb-2022 , 09:11:25 am | Posted By CASANSAAR
The Central Bureau of Investigation (CBI) on February 25 arrested Anand Subramanian, a former top official of the National Stock Exchange (NSE), in connection with alleged favour dolled out to certain traders. The development comes as authorities pressed ahead with an investigation into whether...
Continue Reading... Category : Shares & Stock | Comments : 0 | Hits : 465
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Posted Date : 25-Feb-2022 , 09:06:23 am | Posted By CASANSAAR
Central Goods and Services Tax (CGST) Commissionerate, Faridabad, of Panchkula CGST Zone, on 23.02.2022 arrested two persons for running a fake billing racket, involving five (5) dummy firms, dealing in trading of iron scrap, registered in Faridabad, Haryana, for issuance of fake invoices of over Rs...
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Posted Date : 25-Feb-2022 , 08:54:47 am | Posted By CASANSAAR
Central Goods and Services Tax, CGST Commissionerate, Delhi has unearthed fake invoicing racket of 611 crore rupees involving tax evasion of over 38 crore rupees. Finance Ministry said the officers of Delhi South CGST Commissionerate came to know about certain bogus firms created solely for the purp...
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Posted Date : 24-Feb-2022 , 10:01:46 am | Posted By CASANSAAR
The Reserve Bank of India on Wednesday issued amended Payments and Settlement Systems Regulations that allows companies wanting to run payment businesses to seek licenses from the regulator. The licensing application should include process flow of the operator, technology platform to be u...
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Posted Date : 23-Feb-2022 , 09:31:24 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Tuesday urged the public to exercise utmost caution while using unauthorised prepaid payment instruments (PPIs) saying they must verify beforehand that application or entity that they are dealing with is authorised to carry out the activity it performs or assures t...
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Posted Date : 21-Feb-2022 , 10:12:24 pm | Posted By CASANSAAR
The government is looking to ban statutory auditors from taking up non-audit work on “public interest” companies — which means those that are listed or are above a certain threshold — and their subsidiaries. Besides, it is exploring the possibility of joint audit for cer...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 447
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Posted Date : 21-Feb-2022 , 12:19:52 pm | Posted By CASANSAAR
The Reserve Bank of India on Friday said the Regulations Review Authority has recommended withdrawing about 100 more redundant circulars, besides elimination of certain paper based returns, a move expected to ease compliance for regulated entities. The Reserve Bank of India has set up the Regulat...
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Posted Date : 19-Feb-2022 , 09:22:06 am | Posted By CASANSAAR
Audit watchdog National Financial Reporting Authority (NFRA) said on Friday that 6,820 companies and over 2,000 auditors come under its regulatory ambit as on 31 March 2021. The watchdog keeps a database of the entities that come under its purview for regulatory oversight. The latest database s...
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Posted Date : 18-Feb-2022 , 02:59:44 pm | Posted By CASANSAAR
The State Government has blacklisted 60 Chartered Accountants (CAs) who were under scanner for irregularities, Cooperation Minister S T Somashekar said on Tuesday. Responding to a question by MLC Bharathi Shetty, the minister said these CAs will not be allowed to practise henceforth. The ...
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Posted Date : 17-Feb-2022 , 08:20:19 am | Posted By CASANSAAR
More than 29.8 lakh major Tax Audit Reports (TARs) have been filed on the e-Filing portal of the Income Tax Department as on 15th February, 2022. On the last day, over 4.14 lakh major Tax Audit Reports/forms have been filed. Out of 29.8 lakh of the major statutory forms, over 2.65 lakh Form ...
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Posted Date : 15-Feb-2022 , 09:55:24 am | Posted By CASANSAAR
The Enforcement Directorate (ED) has attached immovable and movable properties valued at ₹ 56.81 crore belonging to Rajasthan's Udaipur-based Chartered Accountant Bharat Bomb and their other associates in Syndicate Bank fraud case amounting to ₹ 1,267.79 crore, the agency said on Mon...
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Posted Date : 15-Feb-2022 , 09:44:22 am | Posted By CASANSAAR
Sebi (Securities and Exchange Board of India) on Monday cancelled the registration of 11 depository participants, including Karvy Stock Broking Ltd. In a separate order, the market regulator has also cancelled the registration certificate of four other stock brokers Irrespective of the cancella...
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Posted Date : 12-Feb-2022 , 09:58:55 am | Posted By CASANSAAR
“More than 6.2 crore Income Tax Returns (ITRs) and about 21 lakh major Tax Audit Reports (TARs) have been filed on the new e-Filing portal of the Income Tax Department as on 10th February 2022,” the tax department said in a statement. Out of the 6.2 crore ITRs filed for AY 2021-22, ...
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Posted Date : 10-Feb-2022 , 09:08:10 am | Posted By CASANSAAR
Markets regulator Sebi on Wednesday asked asset management companies (AMCs) to form audit committees which will be responsible for oversight of financial reporting process, audit process and compliance with laws and regulations, among others. The circular will come into force with effect from August...
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Posted Date : 08-Feb-2022 , 09:27:48 am | Posted By CASANSAAR
The Central Board of Indirect Taxes and Customs (CBIC) is set to scale up scrutiny and departmental audits of risky taxpayers to improve goods and services tax (GST) collections while using data and technology to ensure that officials make decisions transparently, chairman Vivek Johri said in an int...
Continue Reading... Category : GST | Comments : 0 | Hits : 1132
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Posted Date : 08-Feb-2022 , 09:15:50 am | Posted By CASANSAAR
As per Reserve Bank of India (RBI) data on global operations, gross non-performing assets (GNPAs) of scheduled commercial banks (SCBs) have declined from Rs. 9,33,779 crore (GNPA ratio of 9.07%) as on 31.3.2019 to Rs. 8,00,463 crore (GNPA ratio of 6.93%) as on 30.9.2021. This was stated b...
Continue Reading... Category : Banking | Comments : 0 | Hits : 484
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Posted Date : 08-Feb-2022 , 09:12:54 am | Posted By CASANSAAR
Around 6.17 crore Income Tax Returns, ITRs and about 19 lakh major Tax Audit Reports TARs have been filed on the new e-Filing portal of the Income Tax Department as of yesterday. Out of 6.17 crore ITRs filed for Assessment Year 2021-22, 48 percent of these are ITR-1, 9 percent is ITR-2, 13 percent i...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 430
- 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
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