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Posted Date : 15-Apr-2016 , 07:59:16 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has revamped its overseas direct investment application process to provide banks fast and easy accessibility to data for reference purposes and to improve the “coverage and ensure proper monitoring of the flows in a dynamic environment”...
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Posted Date : 14-Apr-2016 , 01:25:58 pm | Posted By CASANSAAR
An independent audit report has flagged some serious concerns over payment of Rs 422.43 crore to foreign agents by railway PSU IRCON International in respect of projects in two countries. Stating that such transactions would have an adverse effect on the functioning of the company, the aud...
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Posted Date : 14-Apr-2016 , 01:23:12 pm | Posted By CASANSAAR
The National Small Savings Fund (NSSF) loan rate to the Centre as well as states has been lowered to 8.8 percent from 9.5 percent following a recent cut in small savings interest rates, an official statement said on Wednesday. "In line with the revision of interest rates of small savings s...
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Posted Date : 14-Apr-2016 , 09:07:46 am | Posted By CASANSAAR
For ICAI MEMBERS Update your PAN details with ICAI. Otherwise unable to upload TAR & MCA forms online. ICAI had already requested the Members / Firms to submit the PAN details to their concerned Regional office on or before 15th December, 2015, If you have not submitted the ...
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Posted Date : 13-Apr-2016 , 07:46:55 am | Posted By CASANSAAR
The high court here has agreed with the Indian government’s 2013 plan to tax investments from Cyprus, which was used by several foreign investors to avoid taxes in India. The order would impact several foreign institutional investors (FIIs) and private equity investors whic...
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Posted Date : 13-Apr-2016 , 07:43:49 am | Posted By CASANSAAR
Even as the Supreme Court on Tuesday decided to examine whether the Reserve Bank of India can disclose names of big defaulters in view of its confidentiality claims, the banking regulator said any revelation about outstanding dues to banks will “impact the economy of the country”. A...
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Posted Date : 12-Apr-2016 , 10:20:11 pm | Posted By CASANSAAR
Central Board of Excise and Customs (CBEC) has issued a circular to simplify the procedure of dealing with audit objections raised in indirect taxes by the office of CAG. The Circular rescinds all the past circulars and instructions and prescribes a new simplified and consolidated procedure. The Cir...
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Posted Date : 12-Apr-2016 , 10:17:37 pm | Posted By CASANSAAR
Gurgaon, the corporate hub of Haryana on the outskirts of Delhi, will now be known as 'Gurugram'. The decision was taken by the BJP government claiming that people of the area have been making a demand in this regard. An official spokesman said the decision to change the name was taken...
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Posted Date : 12-Apr-2016 , 07:14:40 am | Posted By CASANSAAR
President of the Institute of Chartered Accountants of India (ICAI) M Devraj Reddy today categorically said that so far no ‘clean chit’ has been given to the auditors related to the industrialist Vijay Mallya’s default case. Addressing a press conference here, Mr Reddy said though ...
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Posted Date : 12-Apr-2016 , 07:11:09 am | Posted By CASANSAAR
The revenue department has decided to move the Supreme Court for transfer of petitions filed in three High Courts, which had stayed levy of service tax on legal services provided by senior advocates. It has also decided to rope in Attorney General in the case and get the stay orders vacated. Th...
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Posted Date : 12-Apr-2016 , 06:58:40 am | Posted By CASANSAAR
The publication “Central Excise Law and Procedure for Jewellery Industry” has been brought out by Indirect Taxes Committee of ICAI to familiarize the members and the industry with the various provisions of excise law and procedures pertaining to the levy of excise duty on jewellery. The ...
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Posted Date : 11-Apr-2016 , 10:18:00 pm | Posted By CASANSAAR
The RBI has declined to share details of banks inspection reports citing a section of the transparency law that exempts public authority from disclosing information that may prejudicially affect sovereignty, security or economic interests of the country. Replyi...
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Posted Date : 11-Apr-2016 , 10:14:24 pm | Posted By CASANSAAR
Income Tax department has activated the Aadhaar and net banking-based e-filing verification system for taxpayers to file the first appeal before a tax officer, on similar lines of online ITR filing. In order to reduce the interface between taxman and the taxpayer, the department has recently op...
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Posted Date : 11-Apr-2016 , 10:07:42 pm | Posted By CASANSAAR
Airtel M Commerce Services (AMSL), a subsidiary of Bharti Airtel has been granted the first payments bank license from Reserve Bank of India (RBI) today. On August 19, 2015 Reserve Bank of India (RBI) had issued “in-principle” approval to 11 applicants to set up payments banks. The ...
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Posted Date : 11-Apr-2016 , 07:43:31 am | Posted By CASANSAAR
Providing relaxation for housing finance companies, the Corporate Affair Ministry has exempted such entities from filing financial statements in XBRL format. XBRL, or Extensible Business Reporting Language, provides a common, electronic format for business reporting. In a recen...
Continue Reading... Category : MCA | Comments : 0 | Hits : 351
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Posted Date : 10-Apr-2016 , 07:14:24 am | Posted By CASANSAAR
Devraja Reddy, the president of Institute of Chartered Accountants of India (ICAI), said here on Saturday that the curriculum and exam pattern of CA courses will be revised from the next academic year of 2017. Reddy, who was in the city to discuss about the proposed changes in CA courses, said th...
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Posted Date : 10-Apr-2016 , 07:05:09 am | Posted By CASANSAAR
An experts panel of the Securities and Exchange Board of India (Sebi) will meet on Monday to mull introduction of new products for the commodity derivatives market. The commodity advisory committee will also discuss a price pooling mechanism for the spot market. At present, prices are collated...
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Posted Date : 08-Apr-2016 , 08:24:14 am | Posted By CASANSAAR
The Income Tax department on Thursday launched the e-filing of income tax returns for a few more category of filers for the assessment year 2016-17 after it operationalised some of them early this week. The latest enabled Income Tax Returns (ITRs) include ITR-2 for individuals and Hindu Undivid...
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Posted Date : 08-Apr-2016 , 08:01:17 am | Posted By CASANSAAR
The Committee on Information Technology at its 73rd Meeting held on 9th March, 2016 decided to continue to hold the ISA Eligibility Test under old Syllabus for two more attempts i.e. May, 2016 and November, 2016. Hence the ISA Eligibility Test will be held under both old and New Syllabus in May, 201...
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Posted Date : 07-Apr-2016 , 04:13:12 pm | Posted By CASANSAAR
Admit cards in respect of candidates admitted to the Intermediate (IPC) and Final May 2016 examination, with their photographs and signatures on them, are hosted on www.icai.nic.in. Candidates may print their admit cards from the said website. For downloading/printing of the admit ...
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Posted Date : 07-Apr-2016 , 12:40:37 pm | Posted By CASANSAAR
April 7th, 2016 Subject: Zone-shifting of candidates for MAY - 2016 CA Exams Due to paucity of accommodation in certain Zones opted by the candidates in the cities of Chennai, Delhi, Hyderabad, and Mumbai, some of the candidates have been allotted examinations centres in the zone other than th...
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Posted Date : 07-Apr-2016 , 08:25:54 am | Posted By CASANSAAR
The government collected Rs.14.6 lakh crore in taxes in financial year 2015-16, which is higher than the Budget Estimates and Revised Estimates for the year. The government data shows that the bulk of the growth in total tax revenues was due to the increase in indirect tax collections. Indirect...
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Posted Date : 07-Apr-2016 , 08:05:12 am | Posted By CASANSAAR
The average annual compensation of Company Secretaries at the top 500 firms listed on the BSE stood at Rs 50 lakh even though many of them got less than Rs 25 lakh, says a report. The findings are based on an analysis of the secretarial audit reports of S&P BSE 500 companies by CimplyFive Corpor...
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Posted Date : 07-Apr-2016 , 07:58:56 am | Posted By CASANSAAR
Income Tax Department has said it will move Supreme Court challenging the Bombay High Court order in the 8,500-crore rupees Vodafone transfer pricing case. In a series of tweets last night, the IT department said, a substantial question of law has arisen on the issue of taxability of capital gains a...
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Posted Date : 06-Apr-2016 , 08:22:23 am | Posted By CASANSAAR
Dear Members, The bank audit season is around the corner. Given the fact that the banking industry is typical in terms of its geographical and customer spread, the volume and varied nature of products and services offered, coupled with the strict constraints for completing the audits, the members...
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Posted Date : 05-Apr-2016 , 12:42:37 pm | Posted By CASANSAAR
State-run Indian Oil Corp (IOC) hiked transport fuel rates from Tuesday, increasing petrol by Rs.2.19 a litre and diesel by 98 paise -- both at Delhi, with corresponding increase in other states, on the back of a further hardening of global crude oil rates. The current level of international prod...
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Posted Date : 05-Apr-2016 , 12:27:40 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) announced a 25 basis cut in its policy interest rate this morning, lowering it to more than five-year low. The prevailing rate now stands at 6.5 per cent. The central bank also announced reduction in minimum daily maintenance of cash reserve ratio from 95 per cent to ...
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Posted Date : 05-Apr-2016 , 08:45:25 am | Posted By CASANSAAR
Bank of Baroda, the country’s second-largest public sector bank, has stirred up a hornet’s nest with its decision to not renew the contracts of an existing panel of concurrent auditors and instead issue a fresh tender with terms that practically disqualify all small- and medium-size Indi...
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Posted Date : 05-Apr-2016 , 08:42:53 am | Posted By CASANSAAR
The Income Tax Department has from time to time issued advisories regarding the need to avoid phishing emails and to carefully protect the passwords, OTPs and not share them with others. In order to ensure that taxpayers are able to secure their E-filing account against any fraudulent attem...
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Posted Date : 05-Apr-2016 , 08:42:08 am | Posted By CASANSAAR
In order to accord a high priority to issues related to taxpayer's grievances, CBDT has brought a new mechanism where top officers of the IT department have been alloted a specific quota of complaints to monitor and track, from their origin to successful resolution. The new initiative h...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 450
- Income Tax Dept serves notices to salaried individuals for documentary proof to claim exemptions
- Bank Branch Audit 2021 - Update on allotment of Branches
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- Bank Branch Statutory Audit Updates 2019
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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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