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Posted Date : 18-Sep-2021 , 08:06:33 am | Posted By CASANSAAR
Aadhaar linking with PAN can now be done till March 31, 2022, after the government extended the deadline from September 30, 2021. “The Central Government, in continuation of its commitment to address the hardship being faced by various stakeholders on account of the Covid-19 pandemic, has, ...
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Posted Date : 18-Sep-2021 , 08:01:43 am | Posted By CASANSAAR
Life-saving drugs Zolgensma and Viltepso used in treatment of Spinal-Muscular Atrophy exempted from GST when imported for personal use Extension of existing concessional GST rates on certain COVID-19 treatment drugs upto 31st December 2021 GST rates on 7 other medicines recommended by Depar...
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Posted Date : 18-Sep-2021 , 07:58:41 am | Posted By CASANSAAR
The Central Government in exercise of the powers conferred by sub-section(1F) of section 197A of the Income-tax Act, 1961(“the Act”) notified that no deduction of tax shall be made on the following payment under section 194A of the Act, namely payment in the nature of interest, other tha...
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Posted Date : 18-Sep-2021 , 07:55:09 am | Posted By CASANSAAR
UDIN Directorate The Institute of Chartered Accountants of India 17th September, 2021 ALIGNING THE TIME LIMIT OF GENERATING UDIN FROM 15 DAYS TO 60 DAYS Standard on Quality Control (SQC 1) on Retention Period for Engagement Documentation (Working Papers) requires firms to establish policies ...
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Posted Date : 17-Sep-2021 , 08:16:38 am | Posted By CASANSAAR
Finance Minister Nirmala Sitharaman on Thursday announced a formal government guarantee on the securities receipts that the planned ‘bad bank’ will issue to banks as it takes on non-performing assets from their books. The government guarantee will be Rs 30,600 crore, she said. The Uni...
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Posted Date : 16-Sep-2021 , 09:11:22 am | Posted By CASANSAAR
CA Vivek Khurana has filed nomination papers for the Central Council Elections (Northern Region) of ICAI 2021. CA Vivek Khurana, Founder of casansaar.com, a renowned website is a practicing Chartered Accountant and fellow member of ICAI and Partner of a Chartered Accountants firm i...
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Posted Date : 16-Sep-2021 , 09:02:17 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) on Wednesday barred Abhay Bhutada the MD and CEO of Poonawalla Finance and seven others from accessing the securities market for allegedly insider trading in shares of Poonawalla Fincorp—formerly known as Magma Fincorp. The regulator also impou...
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Posted Date : 16-Sep-2021 , 08:57:43 am | Posted By CASANSAAR
The National Financial Reporting Authority on Tuesday said companies will be chosen for audit quality and financial reporting quality review based on the impact the entity has on the economy. After an extensive public consultation, NFRA said of the two criteria, ‘external impact risk’...
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Posted Date : 16-Sep-2021 , 08:45:50 am | Posted By CASANSAAR
In a massive scam case, the Central Bureau of Investigation (CBI) has booked a Delhi-based private firm Indian Technomach for allegedly defrauding 16 banks of funds to the tune of Rs 1528 crore. The agency said that the company, its CMD, other private individuals and public servants conspired to ...
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Posted Date : 14-Sep-2021 , 08:27:04 am | Posted By CASANSAAR
Banking regulator Reserve Bank of India (RBI) on Monday cautioned people not to share account login details, personal information, copies of KYC documents, card information, PIN, password and OTP with unidentified persons or agencies. "Such details should not be shared through unverified/una...
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Posted Date : 14-Sep-2021 , 08:24:02 am | Posted By CASANSAAR
The Supreme Court on Monday said “judicial delay” was the main reason for the failure of the insolvency regime in India prior to the 2016 Insolvency and Bankruptcy Code (IBC), as it urged company law tribunals to “strictly adhere” to the timelines under the new law and clear ...
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Posted Date : 14-Sep-2021 , 08:18:37 am | Posted By CASANSAAR
National Financial Reporting Authority (NFRA) was established by the Central Government in October 2018 with the fundamental objective of driving systemic change in the Indian Financial Reporting System for Public Interest Entities (PIEs)s. NFRA has identified engagement with various categor...
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Posted Date : 11-Sep-2021 , 09:55:56 am | Posted By CASANSAAR
Flat or villa owners paying more than ₹7,500 a month to their resident welfare associations towards maintenance charges will now have to pay Goods and Services Tax (GST) at the rate of 18% for the entire contribution since a Division Bench of the Madras High Court on Thursday stayed a single j...
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Posted Date : 11-Sep-2021 , 09:41:32 am | Posted By CASANSAAR
Finance Act, 2021 has amended section 72A of the Income-tax Act, 1961 (the Act) to inter alia provide that in case of an amalgamation of a public sector company (PSU) which ceases to be a PSU (erstwhile public sector company), as part of strategic disinvestment, with one or more company or...
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Posted Date : 10-Sep-2021 , 10:50:13 am | Posted By CASANSAAR
The Supreme Court on Thursday said that in a taxation regime there is no room for presumption and it is the responsibility of the government to design a tax system which is convenient and simple so that an individual or a corporate can budget and plan. The top court, which allowed a batch of appe...
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Posted Date : 10-Sep-2021 , 10:36:32 am | Posted By CASANSAAR
On consideration of difficulties reported by the taxpayers and other stakeholders in filing of Income Tax Returns and various reports of audit for the Assessment Year 2021-22 under the Income-tax Act, 1961(the “Act”), Central Board of Direct Taxes (CBDT) has decided to further ...
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Posted Date : 09-Sep-2021 , 08:48:19 am | Posted By CASANSAAR
The Government has appointed ten merchant bankers including SBI Capital Market Limited, Goldman Sachs (India) Securities, Citigroup Global Markets India and Nomura Financial Advisory and Securities India to manage the Initial Public Offering, IPO of Life Insurance Corporation of India, LIC. In a ...
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Posted Date : 08-Sep-2021 , 08:30:38 am | Posted By CASANSAAR
The Finance Act, 2021 has amended the provisions of the Income-tax Act, 1961 (“the Act”) to inter alia provide that the Income-tax Settlement Commission (“ITSC”) shall cease to operate with effect from 01.02.2021. Further, it has also been provided that no...
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Posted Date : 08-Sep-2021 , 08:28:10 am | Posted By CASANSAAR
The Securities and Exchange Board of India (SEBI) on September 7 introduced T+1 (Trade plus 1 day) rolling settlement cycle for stocks on an optional basis. The new rule will come into force on January 1, 2022. The regulatory change has been adopted after the market regulator received requests fr...
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Posted Date : 08-Sep-2021 , 08:15:10 am | Posted By CASANSAAR
Ministry of Finance has said that electronic records submitted through registered account of taxpayers in the income tax portal shall be deemed to have been authenticated by the taxpayer by electronic verification code (EVC). The Central Board of Direct Taxes (CBDT) has amended ...
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Posted Date : 07-Sep-2021 , 06:03:33 am | Posted By CASANSAAR
The Supreme Court on Monday said the government had no option but to constitute the Goods and Services Tax (GST) Appellate Tribunal. The tribunal has not been constituted even four years after the central GST law was passed in 2016. “You have to constitute a Tribunal,” a Special Bench...
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Posted Date : 07-Sep-2021 , 05:58:15 am | Posted By CASANSAAR
The Central Board of Direct Taxes has set up three Boards for Advance Rulings (BAR) to offer clarity on tax implications of transactions and to help avoid income tax disputes. An order from CBDT showed that provisions for replacing the Authority for Advance Rulings (AAR), set up in 1993, with BAR...
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Posted Date : 04-Sep-2021 , 09:18:26 am | Posted By CASANSAAR
The government is planning to define cryptocurrencies in the new draft bill that also proposes to compartmentalise virtual currencies on the basis of their use cases, three people aware of the development told ET. Cryptocurrencies will be treated as an asset/commodity for all purposes, including ...
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Posted Date : 04-Sep-2021 , 08:33:49 am | Posted By CASANSAAR
Capital markets regulator Sebi on Friday asked investors to link their PAN with Aadhaar number by September 30 for continual and smooth transactions in the securities market. Failing to comply with this, a person's Permanent Account Number (PAN) card will become inoperative, which means incom...
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Posted Date : 02-Sep-2021 , 10:48:51 am | Posted By CASANSAAR
Canada’s Provincial Nominee Programs (PNP) issued over 3,400 invitations to apply for provincial nomination during the month of August. Canada’s Provincial Nominee Programs (PNP) issued over 3,400 invitations to apply for provincial nomination during the month of August 2021. Major Pr...
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Posted Date : 02-Sep-2021 , 10:44:54 am | Posted By CASANSAAR
ICAI Election 2021 Updates :- Know your polling booth details for ICAI Elections to be held on 3rd and 4th December 2021 https://appforms.icai.org/elections/knowyourbooth2021.html...
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Posted Date : 02-Sep-2021 , 10:32:39 am | Posted By CASANSAAR
The government announced on Wednesday the Appointments Committee of the Cabinet has confirmed the appointment of IRS officer Jagannath Bidyadhar Mohapatra as the Chairman of the Central Board of Direct Taxes (CBDT) The Ministry of Personnel, Public Grievances and Pensions, in a notification said:...
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Posted Date : 02-Sep-2021 , 10:30:17 am | Posted By CASANSAAR
Goods and Service Tax collection for the month of August 2021 came in at Rs 1.12 lakh crore, compared with Rs 1.16 lakh crore in July, data released by the Finance Ministry show on September 1. This is the second consecutive month that GST collections are above the Rs 1 lakh crore mark, indicatin...
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Posted Date : 31-Aug-2021 , 07:54:05 am | Posted By CASANSAAR
Nine new judges, including three women, would be administered the oath of office as judges of the Supreme Court by Chief Justice of India (CJI) N V Ramana on Tuesday. It is for the first time in the history of the apex court when nine judges would be taking the oath of office at one go and the sw...
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Posted Date : 30-Aug-2021 , 08:21:32 am | Posted By CASANSAAR
The Government, vide Notification No. 19/2021- Central Tax, dated 01.06.2021, had provided relief to the taxpayers by reducing / waiving late fee for non-furnishing FORM GSTR-3B for the tax periods from July, 2017 to April, 2021, if the returns for these tax periods are furnished between 0...
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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
- 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
