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Posted Date : 06-Dec-2016 , 08:59:35 am | Posted By CASANSAAR
The Finance Ministry on Monday said any payment by government departments or ministries above Rs 5,000 should be made electronically, lowering the threshold limit from Rs 10,000. This move is intended to bring about a complete digitisation of payments, the ministry said in a statement. All the...
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Posted Date : 06-Dec-2016 , 08:38:13 am | Posted By CASANSAAR
A US accounting watchdog hit Deloitte's Brazil division with a record USD 8 million fine for issuing false audits of a US-traded Brazilian airline and then doctoring papers to thwart an investigation, the agency said. Brazil-based Deloitte Touche Tohmatsu Auditores Independentes "k...
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Posted Date : 06-Dec-2016 , 08:17:05 am | Posted By CASANSAAR
The enforcement directorate (ED) on Monday arrested two officials of Axis Bank Ltd in Delhi and seized 3kg of gold, saying they were helping money launderers convert banned currency notes into gold, the ED said. “Banks have been advised to stop activity in eleven accounts,” the ED add...
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Posted Date : 05-Dec-2016 , 09:42:46 pm | Posted By CASANSAAR
5th December 2016 Extension of last date for submission of application forms for Information Systems Audit-Assessment Test (ISA-AT), upto 10th December 2016. It has been decided that the last date for submission of application forms for ISA-AT scheduled to be held on 24th December 2016 has b...
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Posted Date : 05-Dec-2016 , 09:37:26 pm | Posted By CASANSAAR
As part of its efforts to promote digital payments after demonetising old high value notes, the government today nudged shop owners to use debit cards, saying it will reduce cash handling costs while digital transaction records will help them seek more funds from banks. Merchants will benefit by ...
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Posted Date : 05-Dec-2016 , 08:43:41 am | Posted By CASANSAAR
An Income Declaration Scheme (IDS) was announced in the Union Budget 2016-17 under which declaration of undisclosed income or assetcould be made by agreeing to pay forty five percent (45%) of the declared amount as tax, surcharge and penalty. The scheme closed on 30th September,2016. On 1st Octob...
Continue Reading... Category : Black Money | Comments : 0 | Hits : 516
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Posted Date : 04-Dec-2016 , 11:06:25 pm | Posted By CASANSAAR
The Income Tax department has rejected an astonishing Rs 2 lakh crore disclosure by a Mumbai family as well as the controversial Rs 13,860 crore by an Ahmedabad businessman under the Income Disclosure Scheme that closed in September and a probe is on against them to determine the intention behind th...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 545
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Posted Date : 03-Dec-2016 , 08:49:23 pm | Posted By CASANSAAR
What can be termed as veiled warning to the black money hoarders, Finance Minister Arun Jaitley said that just merely by depositing black money in the bank accounts, one must not think that it has been converted to white as taxes are still to be paid on the unaccounted cash. Jaitley said, “...
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Posted Date : 03-Dec-2016 , 08:35:34 pm | Posted By CASANSAAR
For the third time in one month, the GST Council on Saturday failed to break deadlock over control of assessees under the new indirect tax regime, an issue that has been holding up supporting bills essential for the GST rollout from April 1 next year. The Council, headed by Finance Minister Arun ...
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Posted Date : 03-Dec-2016 , 07:39:22 am | Posted By CASANSAAR
The Two Days Goods and Services Tax,GST Council meeting is underway in New Delhi. It will dwell on the issue of jurisdiction over assesees and draft model laws for implementation of the GST regime from April next year. The meeting is being chaired by Finance Minister Arun Jaitley. The GST Council...
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Posted Date : 02-Dec-2016 , 11:03:46 pm | Posted By CASANSAAR
A property dealer who approached the Income Tax department with a disclosure of a whopping Rs 13,680 crore minutes before the voluntary declaration scheme lapsed on September 30 has now gone missing, according to his chartered accountant. Mahesh Shah, 67, originally hails from Ahmedabad but has b...
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Posted Date : 02-Dec-2016 , 10:40:23 pm | Posted By CASANSAAR
Your feedback / concerns and suggestions received on Model GST Law were communicated and as can be seen many amendments are due to the suggestions made by us. CBEC has now released revised draft Model GST Law in the public domain. The same can be viewed at the below link: http://idtc-icai.s3.amaz...
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Posted Date : 02-Dec-2016 , 09:59:29 pm | Posted By CASANSAAR
The union Ministry of Finance has suspended 27 officials of public sector banks and transferred six to non-sensitive positions over allegations of illegal transactions as the central government continues to plug holes after its announcement to invalidate old high-value banknotes of Rs 500 and Rs 100...
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Posted Date : 02-Dec-2016 , 05:51:27 pm | Posted By CASANSAAR
Citing constitutional compulsion, Finance Minister Arun Jaitley today sought to drive home the point that the Goods and Services Tax has to roll out before September 16 next year as the existing indirect taxes will come to an end by then and it would not be possible to run the country without revenu...
Continue Reading... Category : GST | Comments : 0 | Hits : 394
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Posted Date : 02-Dec-2016 , 08:32:01 am | Posted By CASANSAAR
In view of the numerous notifications being issued by the RBI post the November 8 demonetisation measure, India's central bank on Thursday cautioned people on fake instructions being published in its name by "unscrupulous elementson" over social media. "It has been reported t...
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Posted Date : 01-Dec-2016 , 04:53:30 pm | Posted By CASANSAAR
NIRC Premier League 2016 - Points Table & Every Match Result. Total 24 Teams are playing in NIRC Premier League. 6 Groups has been formed, Every Team will play 3 matches in each Group. Quarter Final will be in Top 6 Team from Each Group & 2 Top Teams as per NRR. Every Team had pl...
Continue Reading... Category : General | Comments : 0 | Hits : 1025
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Posted Date : 01-Dec-2016 , 04:31:25 pm | Posted By CASANSAAR
Amendments to the I-T laws do not seek to tax inherited gold and jewellery as also those items that are purchased through disclosed or agriculture income, the government said today. The Lok Sabha earlier this week passed the Taxation Laws (Second Amendment) Bill, which proposes a steep up t...
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Posted Date : 01-Dec-2016 , 04:21:40 pm | Posted By CASANSAAR
Industrialist Mukesh Ambani-led Reliance Jio on Thursday announced to extend the freebies including free voice call, and data services till March 31, 2017 through “Jio Happy New Year” offer, a move seen to rapidly double the Jio subscribers to over 100 million from 52 million now. &ld...
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Posted Date : 01-Dec-2016 , 04:16:30 pm | Posted By CASANSAAR
The deadline for using old 500 rupee notes at petrol pumps and buying airline tickets at airports has been cut short to tomorrow from the 15th of this month announced earlier. A government notification said, old notes will continue to be accepted for the other utility bill payments as well as at rai...
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Posted Date : 01-Dec-2016 , 08:21:31 am | Posted By CASANSAAR
One can claim the CPE hours by filing a Self Declaration Form with the ICAI for the calendar year 2016. Current Block for Compliance of CPE Hour is from 01.01.2014 to 31.12.2016. Members, who have not filed self deceleration for Calendar Year 2016, can file the same now.  ...
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Posted Date : 01-Dec-2016 , 08:13:19 am | Posted By CASANSAAR
Marking the start of a "new regime", the Insolvency and Bankruptcy Code is all set to be operational from today while as many as 15 insolvency professionals have been registered under it. Describing the Code as the next major reform undertaken by the government after GST (Goods an...
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Posted Date : 01-Dec-2016 , 08:05:15 am | Posted By CASANSAAR
The Government has said, it is now mandatory for all Non-Governmental Organisations, NGOs and voluntary outfits to register with the NITI Aayog to receive grant-in-aid from Ministries and Departments of the Central government. Minister of State for Planning Rao Inderjit Singh said this in a...
Continue Reading... Category : General | Comments : 0 | Hits : 560
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Posted Date : 30-Nov-2016 , 05:26:49 pm | Posted By CASANSAAR
The Supreme Court today directed that cinema halls across the country must play the national anthem before the screening of a film and people should stand up as a mark of respect. The court also directed that the national flag should be shown on screen when the anthem is played. "People m...
Continue Reading... Category : General | Comments : 0 | Hits : 416
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Posted Date : 30-Nov-2016 , 04:59:46 pm | Posted By CASANSAAR
The Reserve Bank has placed a limit of 10,000 rupees on monthly withdrawals from Pradhan Mantri Jan Dhan bank accounts and who want to withdraw more than 10,000 a month, will have to furnish appropriate documents to prove why they need the money. RBI, in a notification, said the move is with the ...
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Posted Date : 30-Nov-2016 , 04:58:52 pm | Posted By CASANSAAR
Delhi High Court today dismissed petition seeking relaxation in withdrawal limit of Rs 2 lakh 50 thousand for marriages and reserved its verdict on the plea saying that government has provided relaxation wherever necessary on demonetisation issue. The plea had said, the cap of 2.5 lakh rupe...
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Posted Date : 30-Nov-2016 , 08:57:57 am | Posted By CASANSAAR
The tax department will go after 'big fish' in probing deposits made in demonetised Rs 500 and Rs 1,000 notes but also intend to investigate small deposits, including Jan-Dhan accounts, if the probe into big tax evaders gives clues for irregularities in these accounts. “...
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Posted Date : 30-Nov-2016 , 08:48:51 am | Posted By CASANSAAR
Finance Ministry has invited suggestions from public for Budget 2017-18 to encourage Jan Bhagidari and make the procedure of budget formation transparent. According to a post on 'My Gov' portal, people can submit their suggestions by 15th of next month. People can submit suggestions...
Continue Reading... Category : Budget | Comments : 0 | Hits : 329
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Posted Date : 30-Nov-2016 , 08:47:00 am | Posted By CASANSAAR
Prime Minister Narendra Modi has asked BJP MPs and MLAs to submit details of their bank account transactions between 8th November and 31st December to party President Amit Shah. Addressing BJP Parliamentary Party meeting in New Delhi today, Mr. Modi rejected the allegation that the Income-Tax Amendm...
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Posted Date : 29-Nov-2016 , 08:23:41 pm | Posted By CASANSAAR
A son, irrespective of his marital status, has no legal right to live in the self-acquired house of his parents and can reside there only at their "mercy", the Delhi high court has said. The court also said that only because parents have allowed the son to live in their house as long as...
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Posted Date : 29-Nov-2016 , 08:14:28 pm | Posted By CASANSAAR
Government on Tuesday said sufficient cash is available with RBI and banks, and it is not considering extending the deadline of December 30 for deposit of invalid Rs 500 and Rs 1,000 notes. The statement was made in the Rajya Sabha even as people queued up at banks to deposit old high value notes...
Continue Reading... Category : Banking | Comments : 0 | Hits : 313
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- File Service Tax Return in time as Maximum Penalty increased 10 times to Rs. 20000
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