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Posted Date : 03-Feb-2016 , 07:57:19 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Tuesday relaxed several rules including foreign direct investment norms to boost start-up activity in the country. To begin with, start-ups are allowed to receive foreign venture capital investment irrespective of the sector in which they operate. The new norm...
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Posted Date : 03-Feb-2016 , 07:53:03 pm | Posted By CASANSAAR
The Government said on Tuesday it has created a Tax Policy Research Unit (TPRU) and Tax Policy Council to be chaired by the Union Finance Minister with nine other members including Minister of State for Finance, Niti Aayog Vice Chairman, Commerce and Industry Minister Revenue Secretary and the Chief...
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Posted Date : 03-Feb-2016 , 07:50:53 pm | Posted By CASANSAAR
Mrs. Aruna Sethi (ICoAS 1985), Principal Adviser (Cost), took over the charge of Indian Cost Accounts Service (ICoAS) as head on 1st February, 2016. She is the first lady ICoAS officer who has achieved this laurel. She has earlier held important portfolios in Government of India including Ministry o...
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Posted Date : 03-Feb-2016 , 07:49:52 pm | Posted By CASANSAAR
Committee on Financial Markets and Investors Protection’ (CFMIP) of ICAI is launching a new Certificate Course on Financial Markets and Securities Laws. Committee has restructured the course curriculum and developed a drafted Background Material on Financial Markets and Securities Laws course....
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Posted Date : 01-Feb-2016 , 10:39:51 pm | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) today announced the result of Chartered Accountants Intermediate Examination (IPC) held in November, 2015. The top three rank holders on all India basis of Chartered Accountants Intermediate (IPC) Examination held in Nov, 2015 are from Kathma...
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Posted Date : 01-Feb-2016 , 10:34:28 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Monday asked banks to file forms related to foreign direct investment (FDI) only online on the e-Biz portal from February 8. With a view to "promoting ease of reporting" of such transactions, RBI, under the e-Biz project of the government, has enable...
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Posted Date : 01-Feb-2016 , 10:29:45 pm | Posted By CASANSAAR
The CBDT has issued guidelines for expeditious tax refund of up to Rs. 5,000 in cases where the department wants to adjust the refund with a pending demand, which has been contested by the assessee. The guidelines would help further streamline the process of refunds. Between mid-April a...
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Posted Date : 01-Feb-2016 , 10:27:31 pm | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has entered into two bilateral Advance Pricing Agreements (APAs) with United Kingdom on 29th January, 2016. With this signing, CBDT has concluded three bilateral APAs the first one being a bilateral APA signed with Japan in December, 2014. The two bi...
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Posted Date : 01-Feb-2016 , 10:25:20 pm | Posted By CASANSAAR
The Companies Law Committee was constituted in June 2015 for examining and making recommendations on the issues arising out of implementation of the Companies Act, 2013. The Committee submitted its report to the Government today. 2. The Commit...
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Posted Date : 01-Feb-2016 , 08:15:55 am | Posted By CASANSAAR
The eldest female member of a family can be its "Karta", the Delhi high court has ruled in a landmark verdict. A unique position carved out by Hindu customs and ancient texts, "Karta" denotes managership of a joint family and is traditionally inherited by men. "If a male ...
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Posted Date : 01-Feb-2016 , 08:09:39 am | Posted By CASANSAAR
The Reserve Bank of India has asked all public and private sector banks to conduct a thorough internal audit and submit a report before their respective audit committees. The summary findings are also to be forwarded to the Reserve Bank. The move forms part of the ...
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Posted Date : 31-Jan-2016 , 01:12:15 pm | Posted By CASANSAAR
Chartered accountants' body ICAI is awaiting an in-principle approval from the government for its "completely revamped" course curriculum that is in tune with current economic landscape. The curriculum for the chartered accountants programme i...
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Posted Date : 31-Jan-2016 , 01:07:53 pm | Posted By CASANSAAR
The ghost of MAT (minimum alternative tax) has reemerged as tax simplification committee, headed by justice Easwar, wants to hold new accounting standard rules sighting adverse and uncertain impact on MAT. But the government body, which has shaped new accounting norms, has refuted this apprehension ...
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Posted Date : 29-Jan-2016 , 10:38:26 pm | Posted By CASANSAAR
Dear Friends, I started my journey in the active service of profession in the year 1991 as an office bearer of Indore Branch of CIRC of ICAI. I am happy that after 24 years, the profession gave me the opportunity to serve as the 63rd President of the ICAI, in the year 2015. Earlier, I was e...
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Posted Date : 29-Jan-2016 , 10:13:23 pm | Posted By CASANSAAR
Japan's central bank shocked markets today with plans to effectively charge lenders to park their cash with it, ramping up a long-running battle to kickstart the world's number three economy. The unprecedented decision to adopt a below-zero interest rate policy is the Bank of Japan's ...
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Posted Date : 29-Jan-2016 , 09:51:48 am | Posted By CASANSAAR
Foreign institutional investors (FIIs) can now invest up to 49 per cent of the paid-up capital of PC Jeweller, the Reserve Bank of India said on Thursday. The RBI notified (under FEMA 1999) that FIIs/registered foreign portfolio investors (RFPIs) can now invest up to 49 per cent in PC Jeweller Lt...
Continue Reading... Category : International Business | Comments : 0 | Hits : 357
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Posted Date : 29-Jan-2016 , 09:40:52 am | Posted By CASANSAAR
Tax officials have resolved over 100 transfer pricing disputes with American multinational companies using the mutual agreement procedures (MAP) as the Centre tries to create an environment of tax certainty and encourage foreign companies to do business in India. “More than 100 cases have...
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Posted Date : 28-Jan-2016 , 08:04:54 am | Posted By CASANSAAR
Taxpayers have recently reported that they have faced problems in using the Digital Signature Certificate for Signing through browser at the time of uploading their Income Tax Return. This is because the latest browser versions have started disabling the standard way in which browser support plug-in...
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Posted Date : 28-Jan-2016 , 07:59:20 am | Posted By CASANSAAR
The Reserve Bank plans to procure an Audit Management and Risk Monitoring System (AMRMS) for the central bank from five "potential shortlisted" solution providers, including PwC and Quadrant 4 Software Solutions. The RBI said it has decided to implement AMRMS to carry out various audi...
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Posted Date : 28-Jan-2016 , 07:44:53 am | Posted By CASANSAAR
The result of the Chartered Accountants Intermediate (Integrated Professional Competence) Examination held in November, 2015 is likely to be declared on Monday, the 1st February, 2016 around 4.00 P.M. and the same as well as the merit list (candidates securing a minimum of 55% and above marks and up...
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Posted Date : 28-Jan-2016 , 07:26:35 am | Posted By CASANSAAR
Rules to stop companies using complex tax arrangements to avoid paying corporate tax have been agreed by 31 Organisation for Economic Co-operation and Development (OECD) members. They will make it harder for firms to hide money in tax havens or play one country's tax authority against another. F...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 378
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Posted Date : 27-Jan-2016 , 08:34:15 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has developed a new software after taxpayers complained of problems in filing income tax (I-T) returns with digital signatures. Taxpayers had recently reported that they faced issues in using digital signature certificate at the time of uploading their I...
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Posted Date : 26-Jan-2016 , 09:13:24 pm | Posted By CASANSAAR
Instances of violations committed by auditors are more of an "exception" and strict action is initiated against those found flouting the norms, according to ICAI President Manoj Fadnis. The Institute of Chartered Accountants of India (ICAI) has extensive powers to take action agai...
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Posted Date : 26-Jan-2016 , 09:09:08 pm | Posted By CASANSAAR
The Indian Institute of Chartered Accountant (ICAI) had declared the results of the Chartered Accountants (CA) final examination and Common Proficiency Test (CPT) on January 17. A 28 -year-old local tea seller Somnath Giram, who lives in a small village in Solapur district and sells tea a...
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Posted Date : 25-Jan-2016 , 08:14:35 pm | Posted By CASANSAAR
Finance Minister Arun Jaitley on Monday called for simpler tax regime to minimize the possibility of excessive litigation. Speaking at the platinum jubilee celebration of income tax appellate tribunal, ITAT in New Delhi Monday, Mr Jaitley said, once a simpler tax system comes into place, there wi...
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Posted Date : 25-Jan-2016 , 08:06:59 pm | Posted By CASANSAAR
Padma Awards - one of the highest civilian Awards of the country, are conferred in three categories, namely, Padma Vibhushan, Padma Bhushan and Padma Shri. The Awards are given in various disciplines/ fields of activities, viz.- art, social work, public affairs, science and engineering, trade and in...
Continue Reading... Category : General | Comments : 0 | Hits : 557
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Posted Date : 25-Jan-2016 , 08:02:48 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs has taken the initiative in Government Process Re-engineering (GPR) and launched the Central Registration Centre (CRC), on the occasion of Republic Day 2016, with the specific objective of providing speedy incorporation related services within stipulated time frames...
Continue Reading... Category : MCA | Comments : 0 | Hits : 462
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Posted Date : 24-Jan-2016 , 06:33:00 pm | Posted By CASANSAAR
India's Income Tax department will further hasten the speed of issuing refunds to taxpayers who e-file their returns as it's Bengaluru-based CPC has adopted a variety of smart business procedures in the recent past, a senior official said. The official involved in the operations of ...
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Posted Date : 22-Jan-2016 , 07:27:13 pm | Posted By CASANSAAR
Prime Minister Narendra Modi may go in for a reshuffle in his cabinet and assign coal minister Piyush Goyal to take the finance portfolio and move finance minister Arun Jaitely to defence. “Finance Minister Arun Jaitley, responsible for delivering the Modi message to international investo...
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Posted Date : 22-Jan-2016 , 07:09:27 pm | Posted By CASANSAAR
The matter of eligibility requirement for the Information System Audit (ISA) Assessment Test was considered in the 349th Meeting of the Council held on 17th and 18th January 2016 and decided as under:- 1) It has been decided to withdraw the announcement dated 4th September 2015 of the Commi...
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- 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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