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Posted Date : 26-Oct-2016 , 07:51:06 am | Posted By CASANSAAR
The Union Finance Minister Shri Arun Jaitley, had personally handed-over the Certificates of Appreciation to a few individuals at North Block in the national capital to commence the program of taxpayer appreciation on 19th September, 2016. The Central Board of Direct Taxes (CBDT) has sent-out such c...
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Posted Date : 25-Oct-2016 , 08:13:47 am | Posted By CASANSAAR
As many as 80 lakh assessees of excise as well as service tax and VAT can start migrating their registration to the Goods and Service Tax Network portal by November 8, GSTN Chief Executive Prakash Kumar said. “On this date (November 8), we are releasing enrolments. This means getting these ...
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Posted Date : 25-Oct-2016 , 08:10:31 am | Posted By CASANSAAR
The central government on Monday told the Supreme Court that anexpert committee it had appointed on non-performing assets will submitits report this month end and the court must hold its hand till then for furtherexamination of the problem which plagues the banking sector. The court, howeve...
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Posted Date : 24-Oct-2016 , 10:56:50 pm | Posted By CASANSAAR
In a dramatic development, Tata Sons, the holding company of the $103-billion (around Rs 6.88 lakh crore) Tata group, said its board has removed Cyrus Pallonji Mistry, 48, as chairman of the conglomerate and named Ratan Tata, chairman of Tata Trusts, the largest shareholder in Tata Sons, as interim ...
Continue Reading... Category : General | Comments : 0 | Hits : 371
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Posted Date : 24-Oct-2016 , 10:55:31 pm | Posted By CASANSAAR
As many as 2.5 crore salaried tax payers will now receive SMS alerts from the Income Tax department regarding their quarterly TDS deductions. Finance Minister Arun Jaitley on Monday launched the SMS alert service for Tax Deducted at Source (TDS) for salaried class and the CBDT will soon offer this f...
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Posted Date : 24-Oct-2016 , 09:26:08 am | Posted By CASANSAAR
Undeclared wealth of Rs 65,250 crore disclosed under the one-time compliance window has not seen any significant addition after tax authorities completed scrutiny of all the filings, sources said. Finance Minister Arun Jaitley had on October 1 announced India's biggest ever black money haul w...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 410
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Posted Date : 24-Oct-2016 , 09:23:09 am | Posted By CASANSAAR
The nation India is all ready to add up one more currency note to its currencies very soon, and the reports are very soon coming out with more details. As per the reports, the Reserve Bank of India, RBI is planning up to issue the RS 2000 currency note, and this is the highest to come regarding the ...
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Posted Date : 24-Oct-2016 , 09:19:58 am | Posted By CASANSAAR
Introduction of Goods and Services Tax (GST) is a challenge and opportunity for the chartered accountants, according to M Venkaiah Naidu, Minister of Urban Development, Housing & Urban Poverty Alleviation and Information & Broadcasting. He was speaking at the inaugural session of the ICAI...
Continue Reading... Category : GST | Comments : 0 | Hits : 435
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Posted Date : 24-Oct-2016 , 09:13:39 am | Posted By CASANSAAR
With both the one-time black money declaration windows concluded, the Income Tax department is set to intensify its crackdown against stash holders after a recent case where an IDS participant surrendered a fresh Rs 30 crore of unaccounted wealth to the taxman after raids were conducted against him....
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Posted Date : 24-Oct-2016 , 08:54:45 am | Posted By CASANSAAR
Finance Ministry has called a meeting of senior management of banks today to discuss the bad loans issue in specific sectors. Sources said, the meeting will focus on non-performing assets (NPAs) in sectors like steel, power and infrastructure. These three sectors account for bulk of gross NPAs which...
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Posted Date : 20-Oct-2016 , 10:09:11 pm | Posted By CASANSAAR
Government decides to issue Sovereign Gold Bonds Scheme 2016 -17–Series III; Applications for the bond to be accepted from October 24, 2016 to November 02, 2016 and the Bonds will be issued on November 17, 2016. Government of India, in consultation with the Reserve Bank of I...
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Posted Date : 20-Oct-2016 , 10:06:34 pm | Posted By CASANSAAR
Concerned over security breach in 32 lakh debit cards of various banks, the Finance Ministry has sought details from lenders as also the additional steps that need to be taken to avert such incidents. According to the ministry sources, the Department of Financial Services has sought information a...
Continue Reading... Category : Finance | Comments : 0 | Hits : 350
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Posted Date : 20-Oct-2016 , 08:01:21 am | Posted By CASANSAAR
Centre and states failed to decide the tax rate under the new GST regime even though they "converged towards a consensus" on levying a cess in addition to the highest rate of tax on luxury and sin goods. There were differences on the issue of dual control with states demanding control o...
Continue Reading... Category : GST | Comments : 0 | Hits : 476
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Posted Date : 20-Oct-2016 , 07:44:15 am | Posted By CASANSAAR
Banks in India will either replace or ask users to change the security codes of as many as 3.2 million debit cards in what's emerging as one of the biggest ever breaches of financial data in India, people aware of the matter said. Several victims have reported unauthorised usage from locations i...
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Posted Date : 20-Oct-2016 , 07:37:32 am | Posted By CASANSAAR
The Directorate of Income Tax (Intelligence and Criminal Investigation) conducted a seminar of Tuesday on quoting of PAN in respect of transactions of sale or purchase of automobiles above Rs.2 lakh and furnishing of statement of financial transaction in case of receipt of cash payment exceeding Rs....
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Posted Date : 19-Oct-2016 , 08:11:35 am | Posted By CASANSAAR
On Day 1 of the three-day meeting of the goods and services tax (GST) Council, Finance Minister Arun Jaitley said five different rate structures were presented. At the same meeting, the central government proposed a four-rate structure with two standard rates of 12% and 18% and 6% for essential g...
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Posted Date : 19-Oct-2016 , 07:54:29 am | Posted By CASANSAAR
Central Processing Centre (CPC) of IT Department are issuing the certificate of Appreciation through the registered e-mails of the prompt tax payers. Such an idea is delivered from the Central Finance Ministry. Arun Jaitley, on 19th Sep 2016, handed over these certificates to some of the selected...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 437
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Posted Date : 19-Oct-2016 , 07:40:17 am | Posted By CASANSAAR
The Goods and Services Tax Council in its meeting reached at a consensus on the way the States would be compensated for any loss of revenue after implementation of the new indirect tax regime, GST from 1st of April next year. Talking to reporters after first-day of the three-day deliberations in ...
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Posted Date : 19-Oct-2016 , 07:37:18 am | Posted By CASANSAAR
PUBLIC NOTICE All concerned stakeholders and general public are advised not to be swayed by the misleading advertisements/information by some of the colleges/educational institutions/private organizations/institutions which are representing themselves as college of finance/accountancy, offering...
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Posted Date : 15-Oct-2016 , 05:14:12 pm | Posted By CASANSAAR
Exemption(s) in a paper(s) are granted to candidates of Intermediate and Final examinations, in terms of Regulation 37C(8) and Regulation 38C(6), respectively, of the Chartered Accountants Regulations 1988. The rules in this regard are provided in the Guidance Notes made available to the ca...
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Posted Date : 14-Oct-2016 , 09:17:40 am | Posted By CASANSAAR
The country’s toughest examination is about to change with the changing times. After a decade, the Institute of Chartered Accountants of India (ICAI) which conducts the CA exam, has approached the ministry of corporate affairs to improve the curriculum, introduce new subjects, electives, and o...
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Posted Date : 14-Oct-2016 , 09:10:21 am | Posted By CASANSAAR
The Centre on Thursday decided to advance the Winter Session by a week to enable the government to roll out the Goods and Services Tax regime from April 1 next year. The Cabinet Committee on Parliamentary Affairs decided to recommend to President Pranab Mukherjee to summon both the Houses of Parl...
Continue Reading... Category : GST | Comments : 0 | Hits : 440
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Posted Date : 13-Oct-2016 , 10:05:57 pm | Posted By CASANSAAR
Senior IAS officer Ajay Kumar Bhalla was today appointed as Director General of Foreign Trade (DGFT). Bhalla, a 1984 batch IAS officer of Assam-Meghalaya cadre, is presently Additional Secretary in Commerce Ministry. He has been appointed to the post in place of Anup Wadhawan, who has been app...
Continue Reading... Category : General | Comments : 0 | Hits : 471
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Posted Date : 12-Oct-2016 , 08:16:25 am | Posted By CASANSAAR
The income tax department has come to acquire an image of an agency that has usually harassed taxpayers, including the honest ones. But recently several individuals were surprised to receive a 'Certificate of Appreciation' in their mailbox, with some even mistaking it for a spam mail. ...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 966
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Posted Date : 11-Oct-2016 , 08:17:03 pm | Posted By CASANSAAR
Government today came out with another set of draft rules, including for liquidation of insolvent corporate persons, under the Insolvency and Bankruptcy Code. As part of implementing the Code, the government has already constituted the Insolvency and Bankruptcy Board of India (IBBI) while the dra...
Continue Reading... Category : General | Comments : 0 | Hits : 295
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Posted Date : 11-Oct-2016 , 11:12:26 am | Posted By CASANSAAR
The State Bank of India is planning to carry out a special audit of the associate banks before the scheduled merger. The SBI is on track to merge with five of its associate banks and the Bharatiya Mahila Bank. The banks are, the State Bank of Travancore, State Bank of Mysore, State Bank ...
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Posted Date : 11-Oct-2016 , 11:06:43 am | Posted By CASANSAAR
Tax collected under the country's biggest black money disclosure will help cushion revenue shortfall from the sale of telecom spectrum and help manage the fiscal situation, Finance Minister Arun Jaitley said today. As much as Rs 65,250 crore of undisclosed assets were brought to light during ...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 302
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Posted Date : 10-Oct-2016 , 09:16:09 pm | Posted By CASANSAAR
Indirect tax collections during the first half of the current fiscal grew 25.9 percent to Rs 4.08 lakh crore mainly on account of 46 percent jump in excise duty mop up. The net indirect tax collection in the April-September period accounts for 52.5 percent of the Budget 2016-17 estimates. A fi...
Continue Reading... Category : General | Comments : 0 | Hits : 267
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Posted Date : 09-Oct-2016 , 08:35:29 pm | Posted By CASANSAAR
The Commerce Ministry has suggested to its finance counterpart that the exemptions given to exporters should continue under the new indirect tax regime, GST. The proposed procedure of paying taxes and then claiming the refunds by exporters under the Goods and Services Tax (GST) would cause hardships...
Continue Reading... Category : GST | Comments : 0 | Hits : 293
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Posted Date : 08-Oct-2016 , 11:10:11 am | Posted By CASANSAAR
With the deadline for the Goods and Services Tax (GST) regime roll-out less than six months away, the government has decided to utilise the services of professional training institutes for imparting training to trade bodies and other stakeholders, it was announced on Friday. "As GST is propo...
Continue Reading... Category : GST | Comments : 0 | Hits : 1026
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