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Posted Date : 08-Nov-2016 , 07:41:45 am | Posted By CASANSAAR
The Reserve Bank has appointed M Rajeshwar Rao as Executive Director following G Mahalingam's taking voluntary retirement from the central bank. RBI said in a statement that as Executive Director, Rao will look after Department of Statistics and Information Management, Financial markets Operatio...
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Posted Date : 07-Nov-2016 , 10:27:23 pm | Posted By CASANSAAR
International Accounting Standards Board (IASB) is seeking applications for vacancies in the Board (A) IASB position summary: The International Accounting Standards Board is the independent standard-setting body of the IFRS Foundation. Members of the Board represent the best available co...
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Posted Date : 07-Nov-2016 , 08:38:18 am | Posted By CASANSAAR
In a victory of sorts for the committee of the Chandigarh branch of the Northern India Regional Council (NIRC) of Institute of Chartered Accountants of India (ICAI), the Punjab and Haryana High Court has in its interim order said that the committee would continue to function and the respondents in t...
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Posted Date : 07-Nov-2016 , 08:27:51 am | Posted By CASANSAAR
In order to make the department more taxpayer friendly, Central Board of Direct Taxes (CBDT) has decided to install cheque deposit machines at Ayakar Seva Kendras (ASKs) and launch a modified website to assist assesses to ascertain their tax liability. As per the road map prepared by the CBDT, th...
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Posted Date : 06-Nov-2016 , 08:39:32 am | Posted By CASANSAAR
Only required for Practicing Members This refers to the earlier announcements of ICAI regarding the updation of PAN details by the members in the Institute’s records to avoid blocking of e-filing account by the Income Tax Department. Inspite of the earlier said announcements and reminder em...
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Posted Date : 05-Nov-2016 , 07:38:56 am | Posted By CASANSAAR
A 41-year-old Charted Accountant was found dead under mysterious circumstances after he fell from the eighth floor of a highrise building in East Delhi’s Madhu Vihar area on Thursday evening. According to the police, the deceased has been identified as Govind Vallabh. Police said that they hav...
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Posted Date : 04-Nov-2016 , 10:32:56 pm | Posted By CASANSAAR
The government says Goods and Service Tax Council meeting remained inconclusive on cross empowerment or dual control issue. Addressing a press conference in New Delhi at the end of two day meeting of the council, Finance Minister Arun Jaitley said, state Finance Ministers will meet on 20th ...
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Posted Date : 04-Nov-2016 , 10:30:59 pm | Posted By CASANSAAR
Reserve Bank of India (RBI) issued draft guidelines on how Indian subsidiaries of multinational companies can hedge their currency exposure risk in the country. RBI said on Friday that subsidiaries looking to hedge their exposure outside of exports and imports could do so through all foreign curr...
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Posted Date : 03-Nov-2016 , 10:04:58 pm | Posted By CASANSAAR
A four-tier GST tax structure of 5%, 12%, 18% and 28%, with lower rates for essential items and the highest for luxury and de-merits goods that would also attract an additional cess, was decided by the all- powerful GST Council on Thursday. With a view to keeping inflation under check, essential ...
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Posted Date : 03-Nov-2016 , 08:31:47 am | Posted By CASANSAAR
With barely a fortnight left for Parliament's Winter Session, the GST Council will begin its crucial 2-day meeting today to decide on tax rate including the levy of cess and sort out the vexed issue of jurisdiction over assessees. At the meeting, to be chaired by Finance Minister Arun Jaitley...
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Posted Date : 03-Nov-2016 , 08:00:54 am | Posted By CASANSAAR
Reserve Bank of India has authorized 29 agency banks to accept payments of Income Tax dues. In a press release, the RBI has appealed to tax payers to remit their income tax sufficiently in advance of the due date. In order to minimize the hassle, tax payers can also use alternate channels like selec...
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Posted Date : 03-Nov-2016 , 07:54:30 am | Posted By CASANSAAR
ICAI has released the 5th Edition (November 2016) of the Guidance Note on Report Under Section 92E of the Income Tax Act, 1961 (Transfer Pricing). This Guidance Note was previously revised in February, 2013 & August 2013. The ICAI has revised Guidance note on Report under Section...
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Posted Date : 02-Nov-2016 , 08:03:03 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) on Tuesday asked credit rating agencies to frame detailed rules for rating criteria, processes and responsibilities of rating analysts and increase the range of their disclosures. Raters have 60 days to adhere to these norms. The capital markets...
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Posted Date : 02-Nov-2016 , 07:50:17 am | Posted By CASANSAAR
The Employees' Provident Fund Organisation (EPFO) on Tuesday said it has issued guidelines to its field offices to settle death claims within seven days and retirement cases before a worker retires from the job. Labour Minister Bandaru Dattatreya on Tuesday took stock of the action taken on d...
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Posted Date : 02-Nov-2016 , 07:48:41 am | Posted By CASANSAAR
Sushil Chandra, a 1980 batch Indian Revenue Service officer, took charge as the chairman of the Central Board of Direct Taxes (CBDT) on Tuesday. Chandra has held the post of member, in charge of investigation, CBDT since December 2015 and is said to have played a crucial role in the success of ...
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Posted Date : 02-Nov-2016 , 07:44:22 am | Posted By CASANSAAR
1st November, 2016 It is hereby informed that candidates can bring to the notice of the Examination Department, their observations, if any, on the question papers relating to CA Examinations being held in November 2016, by e-mail at examfeedback@icai.in or by way of a letter, sent by Speed Post...
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Posted Date : 01-Nov-2016 , 08:52:12 am | Posted By CASANSAAR
The Chandigarh branch of the Northern India regional council of the Institute of Chartered Accountants of India (ICAI) Chandigarh shall continue to function under the chairmanship of CA Sahil Singla, as the apex body of ICAI has withdrawn its order to appoint an administrator to run body. The dec...
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Posted Date : 01-Nov-2016 , 08:42:24 am | Posted By CASANSAAR
The finance ministry today released first instalment of special assistance of Rs 1,093.34 crore for repair and permanent restoration of damaged public buildings in Jammu and Kashmir in pursuance of the announcement made by the Prime Minister last November. A total sum of Rs 2,000 crore has been p...
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Posted Date : 31-Oct-2016 , 06:34:43 pm | Posted By CASANSAAR
CBDT has asked taxmen to pull up their socks to ensure targeted revenue collection targets are met as the figures till September show a shortfall of an estimated over Rs 14,000 crore. In a letter written to all the field formations of the Income Tax department, Central Board of Direct Taxes Chair...
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Posted Date : 31-Oct-2016 , 04:31:17 pm | Posted By CASANSAAR
With several high-ticket alleged frauds like Vijay Mallya loan default case coming to fore, Central Vigilance Commission has now made it mandatory for the public sector banks to report to it all such matters involving funds over Rs one crore. Based on the reports, the anti-corruption watchdog, wh...
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Posted Date : 31-Oct-2016 , 04:28:39 pm | Posted By CASANSAAR
GSTN, the company that is building the world's biggest and most complex tax system, will borrow Rs 800 crore from banks to fund infrastructure costs to support Goods and Services Tax rollout from April 1 next year. The Goods and Services Tax Network (GSTN), a not-for-profit, non-government, p...
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Posted Date : 31-Oct-2016 , 04:23:34 pm | Posted By CASANSAAR
67th Annual Report and Audited Annual Accounts of the Institute for the year ended 31st March, 2016. In accordance with the provisions of sub-section (5B) of Section 18 of the Chartered Accountants Act, 1949, a copy of the Annual Report and Audited Accounts of the Institute for the year ended on ...
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Posted Date : 31-Oct-2016 , 09:07:06 am | Posted By CASANSAAR
In a significant development, the Supreme Court has ordered issuance of notice to Reserve Bank of India officials after hearing the contempt petition moved by Tirupur Exporters Association president Raja Shanmugam on the derivatives scam issue. The contempt petition was moved with the allegatio...
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Posted Date : 31-Oct-2016 , 09:04:31 am | Posted By CASANSAAR
In a recent order, the income tax appellate tribunal's Mumbai bench has held that to claim an interest deduction against a home loan, a taxpayer is not required to submit a completion certificate from any government authority as proof of having obtained possession within the stipulated time peri...
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Posted Date : 29-Oct-2016 , 11:19:47 am | Posted By CASANSAAR
With over Rs 5.16 lakh crore locked up in tax disputes before commissioners, the revenue department has started sending emails and SMSes to assessees, asking them to avail of the ongoing one-time dispute scheme which will close by December-end. About 259,000 cases were pending as of February involvi...
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Posted Date : 29-Oct-2016 , 11:14:46 am | Posted By CASANSAAR
The Benami Transactions (Prohibition) Amendment Act will come into force on November 1, 2016, the Central Board of Direct Taxes said on Friday. Following this, the existing Benami Transactions (Prohibition) Act will be renamed as the Prohibition of Benami Property Transactions Act (PB...
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Posted Date : 28-Oct-2016 , 12:21:04 pm | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has entered into five Unilateral Advance Pricing Agreements (APAs) with Indian taxpayers. The agreements cover a range of international transactions, including sale of finished goods, purchase of raw materials, software development services, IT enabled ser...
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Posted Date : 27-Oct-2016 , 08:19:48 am | Posted By CASANSAAR
Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) has sought clarification from various listed companies of Tata Group about purported disclosure by the ousted chairman, Cyrus Mistry about 18-billion dollar possible write-down at these firms. The exchanges have asked Tata Motors, Tata St...
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Posted Date : 27-Oct-2016 , 08:18:47 am | Posted By CASANSAAR
Reserve Bank of India has urged public to examine 500 rupees and 1000 rupees currency notes before accepting them in the usual course of transactions to avoid circulation of fake currency notes. RBI said, unscrupulous elements are putting into circulation Fake Indian Currency Notes of higher denomin...
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Posted Date : 26-Oct-2016 , 10:56:15 pm | Posted By CASANSAAR
Central Board of Direct Taxes (CBDT) had proactively released in April, 2016 time-series data relating to direct tax collections, number of taxpayers, cost of collection, etc., data of number of PAN allotted and data relating to distribution of income and tax payable in the returns for AY ...
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- Income Tax Dept serves notices to salaried individuals for documentary proof to claim exemptions
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- 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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