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Posted Date : 29-Aug-2016 , 07:57:35 am | Posted By CASANSAAR
The Union HRD Ministry is in the process of making CA Inter equivalent to BCom and CA Final to MCom. This was informed by Institute of Chartered Accountants of India (ICAI) national president M Devaraja Reddy. "We submitted the proposal in this regard and HRD Minister Prakash Javadekar has circ...
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Posted Date : 29-Aug-2016 , 07:56:34 am | Posted By CASANSAAR
The Constitution amendment bill to roll out goods and services tax (GST) is expected to receive nod of about 50 percent of states by early September. Expecting this, Centre is working over issues such as fixation of rates in order to roll out the much awaited GST Bill by April, as per a report in...
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Posted Date : 29-Aug-2016 , 07:38:02 am | Posted By CASANSAAR
The Supreme Court in JAMSHED ANSARI VS. HIGH COURT OF JUDICATURE AT ALLAHABAD & ORS has held that right of Advocates to appear and conduct cases in the court is a matter on which the court must and does have major supervisory and controlling power and it cannot be and are not divested of control...
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Posted Date : 28-Aug-2016 , 06:29:54 pm | Posted By CASANSAAR
Eager to meet the April 1 target to roll out the landmark Goods and Services Tax (GST), the government may advance Winter Session of Parliament by a fortnight to get supporting legislations passed, leaving sufficient time for implementation of the new indirect tax regime. Winter Session of Parlia...
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Posted Date : 27-Aug-2016 , 05:11:07 pm | Posted By CASANSAAR
The West Bengal government has postponed a House debate on the GST bill indefinitely. According to a Trinamool Congress functionary, the debate scheduled for August 29, before passing the legislation, was deferred after the Centre's notification to monitor state treasuries was issued. ...
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Posted Date : 27-Aug-2016 , 07:38:10 am | Posted By CASANSAAR
With banks facing shortage of experienced staff for internal audits, the Reserve Bank of India (RBI) on Thursday allowed them to hire their retired officials for up to three years for assistance in conducting “Risk Based Supervision (RBS)”. “Keeping in view the change in demogra...
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Posted Date : 26-Aug-2016 , 11:01:34 pm | Posted By CASANSAAR
The Nagaland Legislative Assembly today ratified the Goods and Service Tax (GST) Constitution Amendment Bill. The bill was endorsed by the House by a voice vote following a brief discussion. Introducing the bill, Minister for Parliamentary Affairs Kiyanilie Peseyie&n...
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Posted Date : 26-Aug-2016 , 05:49:47 pm | Posted By CASANSAAR
RBI has asked banks to provide loans to women self-help groups in rural areas at 7 per cent per annum, as per the government's revised guidelines for the current financial year. The Reserve Bank said in a notification that all women self-help groups (SHGs) will be eligible for interest ...
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Posted Date : 25-Aug-2016 , 11:55:30 pm | Posted By CASANSAAR
It has been noticed that the Income Tax Department has blocked/ disabled the e-Filing account of the members whose correct PAN details are not available with the Department. Upon following with the Income Tax Department, it has been informed that the blocking and disablement of the E-filing Accou...
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Posted Date : 25-Aug-2016 , 10:53:09 pm | Posted By CASANSAAR
In a bid to keep nation's tax laws in conformity with changing times, the Income Tax Department has created a permanent mechanism for seeking inputs from its officers for changes required in the direct tax regulations. To begin with, the I-T Department has asked officials to provide suggestio...
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Posted Date : 25-Aug-2016 , 10:14:27 am | Posted By CASANSAAR
The Delhi Legislative Assembly on Wednesday passed a resolution to ratify the Constitution (122nd Amendment) Bill or the Goods and Services Tax Bill passed by the Parliament. Deputy Chief Minister Manish Sisodia who moved the resolution in the Assembly said, “We think the GST Bill is...
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Posted Date : 24-Aug-2016 , 06:12:43 pm | Posted By CASANSAAR
A special one-day sitting of the state legislative assembly was convened for ratification of the GST Bill. The Madhya Pradesh Assembly on Wednesday passed the Goods and Services Tax (GST) Amendment Bill. A special one-day sitting of the state legislative assembly was convened for ratification ...
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Posted Date : 24-Aug-2016 , 12:17:08 pm | Posted By CASANSAAR
In Case You are facing any Problem in uploading Tax Audit Reports due to non updation of PAN Number at ICAI or due to differences in the Name as Per ICAI Record and Name Given in PAN Number than pls Go through the Link Mentioned below and update your details. CLICK HERE FOR ONLINE PAN UPDATE WITH...
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Posted Date : 24-Aug-2016 , 08:55:01 am | Posted By CASANSAAR
The Gujarat State Assembly on Tuesday ratified the Goods and Services Tax (GST) Constitution Amendment Bill in the absence of the Opposition party Congress. It has become the sixth State to pass the Bill, which requires ratification from at least 15 state legislatures before the President notifies ...
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Posted Date : 24-Aug-2016 , 08:49:26 am | Posted By CASANSAAR
The government is examining a recommendation by the special investigation team (SIT) to ban cash transactions of over Rs 3 lakh to clamp down on black money, the top Central Board of Direct Taxes (CBDT) official said on Tuesday. Addressing an Assocham event, CBDT Chairperson Rani Singh Nai...
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Posted Date : 23-Aug-2016 , 08:40:11 am | Posted By CASANSAAR
A 38-year-old chartered accountant (CA) was stabbed to death at his office in U-Block of DLF Phase-3 on Thursday night. A woman has confessed to the crime, claiming that the chartered accountant attempted to rape her when she went to his office, police said. The deceased has been identified as Ne...
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Posted Date : 23-Aug-2016 , 08:31:55 am | Posted By CASANSAAR
The government is not favour of the Reserve Bank of India’s suggestion seeking to withdraw the banking regulator’s nominee directors from the boards of public sector banks. The finance ministry feels that the presence of RBI nominees improves the working of boards of PSU banks, and their...
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Posted Date : 22-Aug-2016 , 06:01:57 pm | Posted By CASANSAAR
Himachal Pradesh assembly became the fourth state after Bihar, Jharkhand and Assam to ratify the GST Bill. The Himachal Pradesh Assembly Monday ratified the landmark constitutional bill for the roll out of the Goods and Services Tax (GST), which was passed by the Parliament earlier this month. Th...
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Posted Date : 22-Aug-2016 , 12:45:21 pm | Posted By CASANSAAR
The government is looking into the biggest concern of online retailers with the goods and services tax (GST) — rules relating to returned goods that have at times even reached as high as half their sales. The draft GST law does not provide for credit on tax paid on returned goods, pot...
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Posted Date : 22-Aug-2016 , 12:36:03 pm | Posted By CASANSAAR
In a move that signals the government's intent to allow foreign audit firms to register and operate directly in the Indian market, the Ministry of Corporate Affairs has written to the Institute of Chartered Accountants of India (ICAI) to seek its views and recommendations on the government propo...
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Posted Date : 22-Aug-2016 , 08:01:35 am | Posted By CASANSAAR
The Union Budget has for decades been presented on the last day of February, but this could soon change with the government mulling advancing it to January-end, to complete the exercise before the beginning of the new financial year. The finance ministry is overhauling the Budget-making exercise,...
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Posted Date : 19-Aug-2016 , 10:56:54 pm | Posted By CASANSAAR
The AAP government on Friday said that it will place the GST Bill for ratification before the Delhi Assembly during its four-day session beginning August 22 if it receives official communication about the Bill from the Centre. Apart from Goods and Services Tax (GST), the Kejriwal government will ...
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Posted Date : 19-Aug-2016 , 10:52:58 pm | Posted By CASANSAAR
Fifth Set of Frequently Asked Questions (FAQs) was issued yesterday clarifying certain issues relating to Income Declaration Scheme,2016 (the Scheme). Clarification has been sought as to whether the answer number 4 of the said FAQ shall apply to all assets declared under the Scheme or it is limited ...
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Posted Date : 19-Aug-2016 , 10:52:07 pm | Posted By CASANSAAR
Central Board of Direct Taxes (CBDT) had proactively released data relating to direct tax collections, PAN allocation and distribution of income in the returns for AY 2012-13 earlier in April, 2016. A new version of the income distribution data for AY 2012-13 has now been placed in pu...
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Posted Date : 19-Aug-2016 , 10:51:24 pm | Posted By CASANSAAR
Section 35AC of the Income Tax Act 1961, inter alia provides for a deduction in computing the business income of an assessee, of the amount paid by him to a Public Sector company or a local authority or to an association or institution approved by the National Committee for carrying-out any eligible...
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Posted Date : 19-Aug-2016 , 06:19:03 am | Posted By CASANSAAR
The Supreme Court has asked the Central Board of Secondary Education (CBSE) to “scrupulously” follow its 2011 judgment that it is a student’s “fundamental and legitimate right” to access his answer sheets under the Right to Information Act. The recent order by a Benc...
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Posted Date : 18-Aug-2016 , 10:49:29 pm | Posted By CASANSAAR
Around five lakh bank employees and officers in banks will join the All India General Strike on September 2, 2016 to protest against the Central Government's anti-people economic policies and anti-worker labour reforms. Employees and officers working in various public sector banks, private ba...
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Posted Date : 18-Aug-2016 , 10:37:42 pm | Posted By CASANSAAR
The Income Declaration Scheme, 2016 (the Scheme) provides an opportunity to persons who have not paid full taxes in the past to come forward and declare their undisclosed income and assets. Income Declaration Scheme Rules, 2016 (the Rules) were notified on 19.5.2016. Representations have been receiv...
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Posted Date : 18-Aug-2016 , 08:36:13 pm | Posted By CASANSAAR
Only 14 lakh individuals out of the 2.89 crore assessees in the country declared an annual income of over Rs. 10 lakh, attracting the highest tax bracket of 30 per cent, in assessment year 2012-13. As per the Income Tax Return Statistics for Assessment Year 2012-13, 14 lakh people or just 4.6 per c...
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Posted Date : 18-Aug-2016 , 06:01:41 pm | Posted By CASANSAAR
State bank of India board at a meeting held on Thursday approved the merger of 3 associate banks and BMBL to create a banking giant. In a filing on BSE, the public sector lender said,”The Central Board of Directors of the State Bank of India have accorded their approval to the Scheme of Acquis...
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- Payment of MCA fees –electronic mode-regarding
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- File Service Tax Return in time as Maximum Penalty increased 10 times to Rs. 20000
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