-
Posted Date : 05-Apr-2016 , 08:38:27 am | Posted By CASANSAAR
A committee of the high court here has found discrepancies in data collated from various sources and recommended audit of eight brokers and seven clients or investors in the case of the defunct National Spot Exchange (NSEL). The panel gave its recommendation to the HC, which usually studies these an...
Continue Reading... Category : Auditing | Comments : 0 | Hits : 396
-
Posted Date : 05-Apr-2016 , 08:33:03 am | Posted By CASANSAAR
Spain, France and several other countries have launched tax evasion probes after a massive leak of confidential documents lifted the lid on the murky offshore financial dealings of a slew of politicians and celebrities. The scandal erupted yesterday when media groups began revealing the results o...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 532
-
Posted Date : 05-Apr-2016 , 08:27:26 am | Posted By CASANSAAR
Council Affairs 4th April, 2016 ANNOUNCEMENT - RESPONDING TO TENDERS The matter pertaining to responding to tenders issued by various users of professional services or organization in areas exclusively reserved for the members of the Institute was recently considered by the Council of the I...
Continue Reading... Category : CA Announcement | Comments : 0 | Hits : 1881
-
Posted Date : 04-Apr-2016 , 08:25:43 am | Posted By CASANSAAR
The growing non-performing assets in banks are a matter of great concern. Even the Union government is projecting NPAs at Rs 3.80 lakh crore, in reality it is not less than Rs 10 lakh crore, said Past President ICAI Amarjeet Chopra while speaking at a Bank audit seminar here on Friday at ICAI audito...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 1067
-
Posted Date : 03-Apr-2016 , 07:44:00 pm | Posted By CASANSAAR
The Karnataka State Chartered Accountants’ Association has lost a legal battle against the State’s two-year-old law, which permits using the services of cost accountants to audit accounts of cooperative societies. The earlier provision of the Karnataka Cooperative Societies (KCS) Ac...
Continue Reading... Category : Auditing | Comments : 0 | Hits : 567
-
Posted Date : 03-Apr-2016 , 07:36:40 pm | Posted By CASANSAAR
In yet another step aimed at reducing human interface between taxman and the taxpayer, the Income Tax department today operationalised a facility for e-filing of the first appeal before a tax officer. The department said the facility of filing the appeal form, like filing Income Tax Returns (IT...
Continue Reading... Category : Income Tax | Comments : 1 | Hits : 1194
-
Posted Date : 03-Apr-2016 , 06:08:29 pm | Posted By CASANSAAR
E-filing of income tax returns for the assessment year 2016-17 was launched Sunday for a select category of entities and individuals even as the IT department provided an online calculator for filers to do an easy check and obtain their annual tax liability. "Two Income Tax Re...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 670
-
Posted Date : 03-Apr-2016 , 06:04:46 pm | Posted By CASANSAAR
A plea has been filed in the Delhi High Court against "illegal" surcharge levied on transactions done through debit and credit cards across the country while no such charge is imposed on cash payments. Advocate Amit Sahni in his public interest litigation, likely to be heard by a bench ...
Continue Reading... Category : Banking | Comments : 0 | Hits : 364
-
Posted Date : 02-Apr-2016 , 07:58:37 am | Posted By CASANSAAR
The Income tax department has processed over 6.53 lakh online rectification applications in 2015-16 fiscal and asked the assessees to make use of the e-filing portal for correcting mistakes in Income tax returns. The Central Board of Direct Taxes (CBDT) in a statement said the e-filing portal o...
Continue Reading... Category : CBDT | Comments : 0 | Hits : 608
-
Posted Date : 01-Apr-2016 , 07:23:13 pm | Posted By CASANSAAR
The Delhi High Court today issued notice to the Union Government over a plea moved by the Delhi High Court Bar Association that had challenged imposition of service tax on Senior Advocates. A Division Bench of Justices Dr. S. Muralidhar and RK Gauba also stayed the relevant ...
Continue Reading... Category : Service Tax | Comments : 0 | Hits : 579
-
Posted Date : 01-Apr-2016 , 08:10:34 am | Posted By CASANSAAR
Chartered accountants of Karnataka under the Karnataka State Chartered Accountants Association have lost their case against the Karnataka State Cost Accountants Association in the high court. The CAs had a grouse against the state government allowing cost accountants to audit the account books of co...
Continue Reading... Category : Chartered Accountant | Comments : 2 | Hits : 4720
-
Posted Date : 31-Mar-2016 , 07:12:28 pm | Posted By CASANSAAR
INCOME-TAX (NINTH AMENDMENT) RULES, 2016 - AMENDMENT IN RULE 12 AND SUBSTITUTION OF FORMS SAHAJ (ITR-1), ITR-2, ITR-2A, ITR-3, SUGAM (ITR-4S), ITR-4, ITR-5, ITR-6, ITR-7 AND ITR-V NOTIFICATION NO. SO 1262(E) [NO.24/2016 (F.NO.370142/2/2016-TPL)], DATED 30-3-2016 In exercise of the powers confe...
Continue Reading... Category : ITR | Comments : 0 | Hits : 3541
-
Posted Date : 31-Mar-2016 , 07:49:56 am | Posted By CASANSAAR
Auditors will now have to provide specific details about loan defaults by a company including lender-wise break up in their reports, as the government strengthens efforts to curb corporate misdoings. The latest step by the corporate affairs ministry also comes against the backdrop of rising bad...
Continue Reading... Category : Auditing | Comments : 0 | Hits : 1629
-
Posted Date : 31-Mar-2016 , 07:42:02 am | Posted By CASANSAAR
Defaulters and non-filers of income tax return are facing the heat from the income-tax department, which has sent a massive number of notices to track down offenders. The move is the part of the drive to target 5.8 million-odd defaulters/non-filers and bring them back into the tax fol...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 2222
-
Posted Date : 30-Mar-2016 , 10:20:50 pm | Posted By CASANSAAR
In view of closing of the current financial year and to facilitate the tax-payers in payment of taxes, the Reserve Bank of India has issued instructions vide notification RBI/2015-16/342 dated March 17, 2016 directing all agency banks to keep the counters of their designated branches conducting gove...
Continue Reading... Category : Banking | Comments : 0 | Hits : 571
-
Posted Date : 30-Mar-2016 , 10:15:36 pm | Posted By CASANSAAR
Bank Branch Audit - Allocation of Branches Update: RBI has approved the Bank Branch Audit Pannel. Banks start sending mails for allocation of Branches. Following Banks has started the process for sending emails for allotment of Branches as informed by the Members. Bank of In...
Continue Reading... Category : Bank Branch Audit | Comments : 26 | Hits : 27654
-
Posted Date : 30-Mar-2016 , 06:58:58 am | Posted By CASANSAAR
To protect securities market from cyber threats, regulator Sebi has asked commodity derivatives exchanges to put in place framework to safeguard systems, networks and databases from such attacks. "The exchanges are one of the systemically important Market Infrastructure I...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 322
-
Posted Date : 30-Mar-2016 , 06:50:38 am | Posted By CASANSAAR
Government on Tuesday allowed 100 per cent FDI through automatic route in most of e-commerce retailing, a development that will boost domestic as well as foreign players like Flipkart and Amazon. While the decision to allow 100 per cent FDI in market place e-retail -- where the company only provi...
Continue Reading... Category : International Business | Comments : 0 | Hits : 345
-
Posted Date : 29-Mar-2016 , 10:19:35 pm | Posted By CASANSAAR
Reserve Bank of India on Tuesday said it has cancelled registration of 22 non-banking financial companies (NBFCs) including that of Amazan Capital and Mascot Commerce. The RBI said it cancelled the certificate of registration of the NBFCs in exercise of the powers conferred on it under Section ...
Continue Reading... Category : RBI | Comments : 0 | Hits : 740
-
Posted Date : 29-Mar-2016 , 10:19:33 pm | Posted By CASANSAAR
The Central Board of Direct Taxes signed 11 unilateral APAs on 28th March, 2016. With this signing, India has entered into 59 bilateral and/or unilateral APAs. The Advance Pricing Agreement (APA) programme was introduced by the Finance Act, 2012 to provide a predictable and non-adversarial tax regim...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 249
-
Posted Date : 29-Mar-2016 , 10:10:58 pm | Posted By CASANSAAR
Employees' Provident Fund Organisation (EPFO) has decided to provide interest on inoperative accounts from 1st of next month. The move will benefit over nine crore such account-holders with a total deposits of over Rs 32,000 crore. The decision was taken by the EPFO apex decision making body Cen...
Continue Reading... Category : General | Comments : 0 | Hits : 353
-
Posted Date : 29-Mar-2016 , 07:37:02 am | Posted By CASANSAAR
Amid rising concern over default by large borrowers like liquor baron Vijay Mallya, Prime Minister Narendra Modi today stressed that the government as well as RBI is taking "tough action" to recover loans from corporate defaulters. "The only segment showing an increase in (corporat...
Continue Reading... Category : Banking | Comments : 0 | Hits : 391
-
Posted Date : 29-Mar-2016 , 07:22:18 am | Posted By CASANSAAR
The following are some of the highlights of the Delhi Budget for 2016-17: Items on which Value Added Tax (VAT) is proposed to be slashed from 12.5 percent to 5 percent * Sweets and Namkeens * Readymade garments costing above Rs.5,000 * Marble * Footwear costing above Rs.500 * Schoo...
Continue Reading... Category : Budget | Comments : 0 | Hits : 1494
-
Posted Date : 29-Mar-2016 , 07:19:47 am | Posted By CASANSAAR
Sweets, namkeens, shoes, readymade garments, watches, marble stone and electric vehicles will cost less in the national capital as the Delhi government reduced VAT on them while presenting a "tax-free" budget for 2016-17 with focus on education, health and transport sectors. ...
Continue Reading... Category : Budget | Comments : 0 | Hits : 641
-
Posted Date : 29-Mar-2016 , 07:14:39 am | Posted By CASANSAAR
1. Utility for e-filing Service Tax Return (ST-3) for the period October, 2015 – March, 2016 is now available in both offline and online version. The last date of filing the ST-3 return for the said period is 25th April, 2016. To avoid congestion and inconvenience in the last minute, all asses...
Continue Reading... Category : Service Tax | Comments : 0 | Hits : 641
-
Posted Date : 28-Mar-2016 , 07:48:45 am | Posted By CASANSAAR
In a landmark judgment, the Delhi High Court has ruled that political parties should satisfy the requirement of the Income Tax Act, 1961, for maintaining properly audited accounts of income received through voluntary contributions. If this is not done, a party cannot claim exemption form paying inco...
Continue Reading... Category : Auditing | Comments : 0 | Hits : 428
-
Posted Date : 26-Mar-2016 , 08:23:42 pm | Posted By CASANSAAR
The high court has not only restrained Industrial Development Bank of India (IDBI) staff in Karnataka from going ahead with their strike from Monday (March 28), but also told them not to disrupt bank work during the crucial March 28-31 period (end of the financial year). "Needless to say, ...
Continue Reading... Category : Banking | Comments : 0 | Hits : 379
-
Posted Date : 26-Mar-2016 , 08:06:52 pm | Posted By CASANSAAR
Delhi government today said VAT collection in the ongoing financial year has crossed Rs 20,000 crore, close to its revised target of Rs 21,000 crore. The government in its first Budget had set Rs 24,000 crore as the target but later, on the grounds of unsteady collection, it was toned down to Rs ...
Continue Reading... Category : VAT | Comments : 0 | Hits : 589
-
Posted Date : 26-Mar-2016 , 07:39:24 am | Posted By CASANSAAR
Institute of Chartered Accountants of India (ICAI) would abolish common proficiency test (CPT) examination for CA aspirants and reinstate the Foundation course instead from November this year. “From November onwards the CPT examination route will be scrapped as the Ministry of Corporate A...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 2155
-
Posted Date : 25-Mar-2016 , 09:26:37 pm | Posted By CASANSAAR
Finance Ministry is likely to notify by first week of April new income tax return forms for Assessment Year 2016-17 which will more or less be similar to the one that was filed by assessees last year. As many as 93 per cent of the individual assessees file income tax returns online and the ...
Continue Reading... Category : ITR | Comments : 0 | Hits : 920
- Income Tax Dept serves notices to salaried individuals for documentary proof to claim exemptions
- Bank Branch Audit 2021 - Update on allotment of Branches
- Bank Branch Audit 2020 Updates
- Bank Branch Audit 2021 Updates
- Bank Branch Audit 2020 - Update on Allotment of Branches
- Police Atrocities towards CA in Faridabad - Its Time to be Unite
- Bank Branch Statutory Audit Updates 2019
- Bank Branch Statutory Audit Updates
- Bank Branch Audit 2022 Updates
- Bank Branch Statutory Audit Updates
- 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
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
