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Posted Date : 15-Nov-2016 , 02:21:32 pm | Posted By CASANSAAR
Even as the government and the Opposition are trying to formulate their strategies for the coming winter session of Parliament on the issue of demonetisation, Economic Affairs Secretary Shaktikanta Das, in a press meet on Tuesday, made a couple of announements to combat the crisis of cash ...
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Posted Date : 15-Nov-2016 , 08:32:40 am | Posted By CASANSAAR
The Reserve Bank of India on Monday said that current account holders are allowed to withdraw up to Rs 50,000 in a week. Such tenders will be disbursed predominantly in Rs 2,000 denomination , said a circular from the RBI. The RBI has also said banks could deploy micro-ATMs, Bala Mitras, etc near...
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Posted Date : 14-Nov-2016 , 08:53:13 pm | Posted By CASANSAAR
Amidst unprecedented panic rush in banks and ATMs across the country, the Supreme Court would tomorrow hear a batch of PILs seeking quashing of the government's decision to demonetise Rs 1,000 and Rs 500 currency notes on the grounds that it infringed citizens' right to life and trade among ...
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Posted Date : 14-Nov-2016 , 12:11:52 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) asked banks to submit daily amounts of cash withdrawn from over the counter as well as through automated teller machines to help it gather accurate data on the circulation of currency. In a circular on Sunday it asked banks to submit the data in a speci...
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Posted Date : 14-Nov-2016 , 12:06:37 pm | Posted By CASANSAAR
US President-elect Donald Trump has said he would take USD 1 as his salary a year and not the USD 400,000 that comes with the US president’s job and will refrain from going on any vacation. Asked whether he was going to the president’s salary, 70-year-old Trump said, “No, I’m...
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Posted Date : 14-Nov-2016 , 12:02:02 pm | Posted By CASANSAAR
With banks struggling to cope with rush to get alternative currency, the government has extended use of old defunct Rs 500 and Rs 1,000 notes for paying household utility bills, fuel, taxes and fees and purchases from co-operative stores till November 24. While withdrawing Rs 500 and Rs 1,000 not...
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Posted Date : 13-Nov-2016 , 09:52:26 pm | Posted By CASANSAAR
Daily limit for withdrawing cash from ATMs has been increased to Rs 2,500 from existing Rs 2,000, announced Ministry of Finance on Sunday after reviewing the position regarding availability and distribution of all denomination of bank notes. Follow Min...
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Posted Date : 13-Nov-2016 , 06:02:41 pm | Posted By CASANSAAR
Prime Minister Narendra Modi today launched a scathing attack on detractors of the demonetisation move, especially the Congress, saying those involved in mega scams were now standing in queues to exchange Rs 4,000 and announcing that more anti-graft measures were on the anvil including action agains...
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Posted Date : 11-Nov-2016 , 09:51:09 pm | Posted By CASANSAAR
Government today extended use of old Rs 500 and Rs 1,000 notes for paying household utility bills, fuel, taxes and fees as well as purchases from co-operative stores by another 72 hours to November 14 as it struggles to make available alternative currency. While withdrawing Rs 500 and Rs 1,000 no...
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Posted Date : 11-Nov-2016 , 04:41:27 pm | Posted By CASANSAAR
Declaring that the state governments have the legislative competence, the Supreme Court Friday held as constitutional the levy of entry tax by states on goods imported from other states. A nine-judge bench led by Chief Justice of India T S Thakur held by majority that state governments could impose ...
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Posted Date : 11-Nov-2016 , 04:35:32 pm | Posted By CASANSAAR
India’s largest lender State Bank of India said on Friday banks received deposits worth Rs 53,000 crore since the government put out of circulation high-value banknotes in a bid to drain illegal wealth. People started depositing the now-withdrawn Rs 500 and Rs 1000 notes in banks across Ind...
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Posted Date : 11-Nov-2016 , 02:09:26 pm | Posted By CASANSAAR
The Madurai bench of the Madras High Court today dismissed the petition seeking a stay on demonetisation of Rs 500 and Rs 1,000 notes. The petition was filed by the political party Indian National League (INL). The bench said the government's demonetisation scheme is good for the country. ...
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Posted Date : 10-Nov-2016 , 07:26:52 pm | Posted By CASANSAAR
This comes a day after Union Finance Ministry had warned of strict actions against those who will be found depositing undisclosed money after banks opened on Thursday. Further dangling the stick, government on Wednesday night had warned that cash deposits above Rs 2.5 lakh threshold under t...
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Posted Date : 10-Nov-2016 , 07:20:12 pm | Posted By CASANSAAR
Assuring people that taxman will not hound those making small deposits in scrapped Rs 500/1,000 currency, Finance Minister Arun Jaitley today advised them not to throng banks as there is enough time to exchange the junked notes. He said however that those depositing large amounts of unaccounted m...
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Posted Date : 10-Nov-2016 , 07:18:06 pm | Posted By CASANSAAR
The demonetization of 1000 rupees and 500 rupees notes has seen sudden spurt in donations to around 100 temples and trusts and in cash reserves of around 1000 cooperative banks and credit societies in Maharashtra. All these transactions have come under government scanner. The officials have apprised...
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Posted Date : 10-Nov-2016 , 08:20:06 am | Posted By CASANSAAR
A plea was Wednesday filed in Supreme Court seeking quashing of the Narendra Modi government’s decision to demonetise Rs 1,000 and Rs 500 currency notes on grounds that it infringed on citizens’ right to life and to trade, among others. The PIL, which could be listed for hearing during t...
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Posted Date : 10-Nov-2016 , 07:53:06 am | Posted By CASANSAAR
Those who have deposited more than Rs 10 lakh in their bank accounts, not commensurate with their income tax returns, will have to pay tax and a 200 per cent penalty on the amount as laid out in the Income Tax Act, Revenue Secretary Hasmukh Adhia tweeted on Wednesday. “If ...
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Posted Date : 09-Nov-2016 , 10:22:06 pm | Posted By CASANSAAR
The Reserve Bank of India has dismissed as “figments of imagination” rumours that a new series of Rs 2,000 will come with a GPS-chip that will help government track illegal money transactions. “Such a technology does not exist at the moment in the world, then how can we introduc...
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Posted Date : 09-Nov-2016 , 07:20:10 pm | Posted By CASANSAAR
Two senior advocates have moved the Bombay high court (HC) urging it to take suo moto cognisance of the Union government’s decision to stop the circulation of all currency notes of the denomination of Rs500 and Rs1,000. Advocate Jamshed Mistry and advocate Jabbar Singh moved the HC’s ...
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Posted Date : 09-Nov-2016 , 07:14:39 pm | Posted By CASANSAAR
Finance Minister Arun Jaitley on Wednesday said deposits of now-defunct old Rs 500 and Rs 1,000 currency notes in bank accounts will not enjoy immunity from tax and the land of law will apply on source of such money. A day after the government announced the withdrawal of Rs 500 and Rs 1,000 banknote...
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Posted Date : 09-Nov-2016 , 07:12:41 pm | Posted By CASANSAAR
Housewives, farmers and those whose annual income is within the tax exemption limit may not be hounded by tax authorities for depositing up to Rs. 2.5 lakh of the now-defunct higher denomination currency notes in bank accounts, a top government official said today. After withdrawing Rs. 500 and...
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Posted Date : 09-Nov-2016 , 05:57:14 pm | Posted By CASANSAAR
RBI/2016-17/114 DBR.No.Leg.BC.31/09.07.005/2016-17 November 9, 2016 The Chairman / Managing Director and Chief Executive Officer, Public Sector Banks/ Private Sector Banks / Foreign Banks/ Small Finance Banks / Regional Rural Banks / Local Area Banks All Cooperative Banks Dear...
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Posted Date : 09-Nov-2016 , 01:26:38 pm | Posted By CASANSAAR
Donald John Trump was elected the 45th president of the United States on Tuesday in a stunning culmination of an explosive, populist and polarizing campaign that took relentless aim at the institutions and long-held ideals of American democracy. The surprise outcome, defying late polls that showe...
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Posted Date : 09-Nov-2016 , 08:46:54 am | Posted By CASANSAAR
Since Mr. Modi has announced the withdrawal of the high denomination Bank notes last night, Phone calls to CAs are not stopping. Many of us even had sleepless night due panic among business community and our clients. CASANSAAR would request and appeal to Professional fraternity to avoid a...
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Posted Date : 09-Nov-2016 , 07:53:06 am | Posted By CASANSAAR
After the government’s surprise announcement on Tuesday of making Rs 1,000 and Rs 500 banknotes illegal from midnight, the Reserve Bank of India posted a 25-point detailed FAQs explaining the rationale behind the move. The central bank said the most important reason for the ban was the abno...
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Posted Date : 08-Nov-2016 , 11:36:05 pm | Posted By CASANSAAR
My dear citizens I hope you ended the festive season of Diwali with joy and new hope. Today, I will be speaking to you about some critical issues and important decisions. Today I want to make a special request to all of you. You may recall the economic situation in May 2014 when you entrusted us ...
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Posted Date : 08-Nov-2016 , 09:01:11 pm | Posted By CASANSAAR
Currency notes of Rs 500 and Rs 1,000 won’t be valid from midnight, PM Narendra Modi says in an address to the nation. “Currency notes of Rs 1000 and Rs 500 will be just paper with no value,” the PM says. Modi says the citizens’ money will be safe as they can deposi...
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Posted Date : 08-Nov-2016 , 08:53:01 pm | Posted By CASANSAAR
1,000 and 500 rupee notes will cease to be legal tender from midnight tonight and those who are in possession of these notes can deposit the notes in their accounts in banks and post offices from 10th of this month to 30th of December this year. In a special nationwide televised address this even...
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Posted Date : 08-Nov-2016 , 01:53:14 pm | Posted By CASANSAAR
The Govt has launched GST portal (www.gst.gov.in). The state wise schedule for GST Registration is hosted on the website. Government has launched GST Portal (i.e., www.gst.gov.in) for the enrollment of existing taxpayers of VAT, Service Tax and Excise for smooth transition to GST. Exis...
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Posted Date : 08-Nov-2016 , 08:14:47 am | Posted By CASANSAAR
As Delhi is choking with pollution with most of its parts witnessing smog levels that are almost five times higher, the US environmental protection agency on Monday said that the national capital is the most polluted city on earth right now. The measurements taken at the US Embassy in Delhi rec...
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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
