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Posted Date : 29-Oct-2015 , 08:58:38 am | Posted By CASANSAAR
Accordingly, the Council of the Institute, in pursuance of sub-rule (1) of Rule 41 of the said Rules read with sub-regulation (10) of Regulation 134 of the Chartered Accountants Regulations, 1988, has fixed the following ceiling on election expenses in aggregate under all possible heads, in respect ...
Continue Reading... Category : ICAI Election | Comments : 0 | Hits : 721
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Posted Date : 29-Oct-2015 , 08:37:35 am | Posted By CASANSAAR
Getting a notice from the income tax department has a direct effect on one’s heartbeat. One should, however, not panic and address the issues raised by the department especially when one is not on the wrong side of taxes. Scrutiny of income tax return may occur primarily be...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 937
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Posted Date : 29-Oct-2015 , 08:10:12 am | Posted By CASANSAAR
The government has cleared 16 foreign investment proposals, including those of HDFC Capital and Ageon Religare Life Insurance Company, amounting to Rs 4,722 crore. The investment proposals were approved following the recommendation by the Foreign Investment Promotion Board (FIPB), headed by Econo...
Continue Reading... Category : International Business | Comments : 0 | Hits : 400
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Posted Date : 29-Oct-2015 , 08:03:20 am | Posted By CASANSAAR
The Government on Wednesday appointed senior Indian Revenue Service officer Najib Shah as Chairman, Central Board of Excise and Customs. “The Appointments Committee of Cabinet has approved the appointment of Najib Shah, Member CBEC as Chairman CBEC vice Kaushal Srivastava,” sa...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 498
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Posted Date : 28-Oct-2015 , 08:26:23 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) will soon notify a sovereign gold bond scheme. This follows the notification of a gold monetisation scheme last week. The government will launch three new schemes: Apart from bonds, the others pertain to gold monetisation and selling of gold coins....
Continue Reading... Category : RBI | Comments : 0 | Hits : 381
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Posted Date : 28-Oct-2015 , 08:18:56 am | Posted By CASANSAAR
The government is setting the ground for another overhaul of the Companies Act 2013 to make it easier for corporates to do business in the country, a senior government official said. The corporate affairs ministry has formed six expert panels to work on more amendments to the Act on top of 16 ame...
Continue Reading... Category : Companies Act | Comments : 0 | Hits : 719
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Posted Date : 28-Oct-2015 , 08:07:46 am | Posted By CASANSAAR
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Continue Reading... Category : ICAI | Comments : 0 | Hits : 1015
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Posted Date : 28-Oct-2015 , 08:00:52 am | Posted By CASANSAAR
26th October 2015 ISA-AT for members is held twice a year in the month of June and December. The tentative dates of the forthcoming ISA-ATs are as follows: 26th December 2015 25th June 2016 24th December 2016 It may be please be noted that the dates me...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 458
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Posted Date : 28-Oct-2015 , 07:53:11 am | Posted By CASANSAAR
The Government of India has constituted a Committee with a view to simplify the provisions of the Income Tax Act, 1961, with the following composition: (i) Justice R.V. Easwar, (Retd.),...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 658
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Posted Date : 27-Oct-2015 , 08:19:19 pm | Posted By CASANSAAR
The Income-tax Department is committed to the ‘Digital India’ initiative of the Government of India. The Finance Minister Shri Arun Jaitley launched here today an “e-Sahyog” pilot project which furthers the Department’s commitment to work in an e-environment and reduces...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 489
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Posted Date : 27-Oct-2015 , 08:14:07 pm | Posted By CASANSAAR
CA. Manoj Fadnis, President, the Institute of Chartered Accountants of India (ICAI) has been elected as the Deputy President of Confederation of Asian and Pacific Accountants (CAPA) at the Board meeting of CAPA held on October 27, 2015 at Seoul for a period of two years. ICAI nominee CA. Manoj Fadni...
Continue Reading... Category : CA | Comments : 0 | Hits : 378
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Posted Date : 27-Oct-2015 , 07:49:29 am | Posted By CASANSAAR
Markets regulator Sebi is open to making changes in rules regulating innovative financial products, including exchange-traded funds, to spur their growth if market players and experts give their inputs, provided such rule changes are positive for investors. "Based on inputs from expert...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 516
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Posted Date : 26-Oct-2015 , 10:12:18 pm | Posted By CASANSAAR
In order to resolve a long standing issue relating to levy of Service Tax on sale of flats/dwellings etc. after issue of occupancy certificate but before issue of completion certificate in areas under the jurisdiction of Municipal Corporation of Greater Mumbai i.e. Brihanmumbai Municipal Corporation...
Continue Reading... Category : Service Tax | Comments : 0 | Hits : 555
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Posted Date : 26-Oct-2015 , 04:10:30 pm | Posted By CASANSAAR
A massive earthquake, measuring 7.5 on the Richter scale was felt in Srinagar and other parts of North India at around 2.45 pm on Monday. The quake had its epicentre in the Hindukush region of Afghanistan, said a statement from the government. The quake was 196 km (120 miles) deep and centred ...
Continue Reading... Category : General | Comments : 0 | Hits : 216
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Posted Date : 26-Oct-2015 , 08:38:25 am | Posted By CASANSAAR
To put an end to rising cases of non-performing assets (NPAs) in banks and loans to undeserving entities, the government has now made it mandatory for all financial institutions to obtain an affidavit from auditors who sign balance sheets of companies applying for advances. Banks have ...
Continue Reading... Category : Accounts | Comments : 0 | Hits : 884
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Posted Date : 26-Oct-2015 , 08:35:03 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has turned down a proposal from the government to allow up to 100% foreign direct investment (FDI) in banks, a move that may come as a damper for several private sector lenders such as ICICI Bank and HDFC Bank. Sources said the RBI has not provided a clear reason t...
Continue Reading... Category : RBI | Comments : 0 | Hits : 264
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Posted Date : 26-Oct-2015 , 08:27:06 am | Posted By CASANSAAR
As a debate continues about IPO- bound airline IndiGo doling out hefty dividend payouts to its promoters, markets regulator Sebi is mulling making it must for all listed companies to have a stated 'Dividend Policy'. The move is aimed at helping the investors identify stocks with greater retu...
Continue Reading... Category : SEBI | Comments : 1 | Hits : 546
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Posted Date : 26-Oct-2015 , 08:24:55 am | Posted By CASANSAAR
The Income Tax department will roll out next week its ‘pilot’ project to conduct scrutiny assessment in an e-environment when they begin sending queries through email to 500 “select” taxpayers without calling them to its offices. The department had recently said it would...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 576
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Posted Date : 24-Oct-2015 , 08:41:23 am | Posted By CASANSAAR
There's good news on the tax front for yoga gurus who carry on their activities via charitable trusts. Income of such trusts from yoga-related activities will now not be subject to service tax. Thus, attendees of yoga camps or classes conducted by charitable trusts will not have to pay...
Continue Reading... Category : Service Tax | Comments : 0 | Hits : 1002
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Posted Date : 24-Oct-2015 , 08:28:25 am | Posted By CASANSAAR
Persons involved in serious offences of tax evasion are liable for arrest and prosecution under the Central Excise Act, 1994, Finance Act, 1994 dealing with Service Tax and Customs Act, 1962. Central Board of Excise and Customs (CBEC) has issued instructions from time to time prescribing the procedu...
Continue Reading... Category : Custom | Comments : 0 | Hits : 741
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Posted Date : 22-Oct-2015 , 09:59:57 pm | Posted By CASANSAAR
The Income Tax department has begun the process of final assessment of those black money declarations that were made to it as part of the one-time compliance window that closed in September. Sources said while a final reconciliation of the total amount and number o...
Continue Reading... Category : Black Money | Comments : 0 | Hits : 657
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Posted Date : 22-Oct-2015 , 09:02:54 am | Posted By CASANSAAR
The proposed Goods and Service Tax (GST) mechanism will not permit any revision of GST returns, which may create some challenges for taxpayers. Currently, both service tax and value added tax (VAT) laws permit revision of the tax returns that have been filed. In other words, taxpayers can file a fre...
Continue Reading... Category : GST | Comments : 0 | Hits : 852
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Posted Date : 22-Oct-2015 , 08:44:29 am | Posted By CASANSAAR
The Indradhanush package was announced on 14th August, 2015 for transforming Public Sector Banks (PSBs) through a bottoms-up approach. It represents the most comprehensive reform effort undertaken since banking nationalisation in 1970. The framework mainly comprised of appointments, B...
Continue Reading... Category : Finance | Comments : 0 | Hits : 382
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Posted Date : 21-Oct-2015 , 07:54:35 am | Posted By CASANSAAR
Twenty-five-year-old Alok Ranjan got a rude shock when he realised that he could not take the Reserve Bank of India’s Grade B (General) Direct Recruitment officer exam. Despite being a qualified Chartered Accountant, Ranjan found himself ineligible to apply for the coveted job due to a new edu...
Continue Reading... Category : CA | Comments : 1 | Hits : 1866
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Posted Date : 21-Oct-2015 , 07:46:25 am | Posted By CASANSAAR
The Reserve Bank on Tuesday invited applications from entities engaged in bill payments and desirous to operate as Bharat Bill Payment System Operating Units. The Bharat Bill Payment System (BBPS) will be an authorised payment system operated by National Payment Corporation of India (NPCI), RBI s...
Continue Reading... Category : RBI | Comments : 0 | Hits : 667
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Posted Date : 21-Oct-2015 , 07:39:16 am | Posted By CASANSAAR
Scared of facing income tax officer? In a major initiative to address tax harassment, the authorities plan to do paperless income tax assessment over emails. The Central Board of Direct Taxes (CBDT) has rolled out a pilot project whereby e-hearing would be conducted in 100 cases. &...
Continue Reading... Category : CBDT | Comments : 1 | Hits : 850
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Posted Date : 20-Oct-2015 , 07:40:59 am | Posted By CASANSAAR
In a bid to promote business-friendly taxation regime, the Centre has issued guidelines for transfer pricing (TP) provisions that are expected to reduce the rising volume of tax litigation. According to the guidance note on international transactions issued by the Central Board of Direct Taxes (C...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 647
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Posted Date : 19-Oct-2015 , 09:25:49 pm | Posted By CASANSAAR
Finance minister Arun Jaitley today kicked off preparations for the Union Budget 2016-17 by holding consultation with leading economists from within and outside the government at the National Institution for Transforming India (NITI) Aayog meeting. AIR correspondent reports that the meeting with ...
Continue Reading... Category : Budget | Comments : 0 | Hits : 421
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Posted Date : 19-Oct-2015 , 08:53:45 pm | Posted By CASANSAAR
Government has made the following changes in indirect tax rates, effective from today, that is 19th October, 2015: 1) In view of the continued fall in international prices of wheat and the anticipated adverse impact of increased imports during the first half of this financial year, basic cu...
Continue Reading... Category : Custom | Comments : 1 | Hits : 1844
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Posted Date : 19-Oct-2015 , 08:35:11 pm | Posted By CASANSAAR
Filmmakers, who could not complete their movies or had to abandon them mid-way, can now have some relief as the Income Tax department has decided to do away with a provision of claiming tax on such projects. The Central Board of Direct Taxes earlier this month brought out a directive statin...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 347
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- CBDT extends due date for filing Form 10A/10AB upto 30th June, 2024
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- 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
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- Maha expects Rs 15 crore entertainment tax revenue from IPL
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- 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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