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Posted Date : 08-Oct-2015 , 07:30:43 am | Posted By CASANSAAR
The employees of the income tax department are going on a nationwide strike on Thursday to protest the delay in promotions and appointments of tax officers in the Central Board of Direct Taxes (CBDT). The strike organised by two prominent associations — Income Tax Employees Federation (IT...
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Posted Date : 07-Oct-2015 , 08:13:22 am | Posted By CASANSAAR
A high-level committee appointed by the government has recommended a uniform tax for all corporate social responsibility (CSR) activities carried out under the new Companies Act and also suggested lenient treatment of non-compliant firms during the first two to three months as companies have to stil...
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Posted Date : 07-Oct-2015 , 08:02:43 am | Posted By CASANSAAR
With the Reserve Bank of India (RBI) easing foreign ownership in government debt, markets regulator Securities and Exchange Board of India (Sebi) on Tuesday issued detailed guidelines for hiking the overseas investment limits in such securities to Rs 1,86,500 crore by January 1, 2016. Sebi has sa...
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Posted Date : 06-Oct-2015 , 11:13:40 pm | Posted By CASANSAAR
Finance Minister Arun Jaitley has promised a rational tax rate for individuals and bringing down of corporate tax to 25 per cent flat in four years beginning next fiscal along with removal of exemptions except those that encourage individual savings. Addressing students and faculty at the C...
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Posted Date : 06-Oct-2015 , 11:07:33 pm | Posted By CASANSAAR
Admit cards 6th October 2015 Admit cards in respect of candidates admitted to the Intermediate (IPC) and Final November 2015 examination, with their photographs and signatures on them, are hosted on www.icai.nic.in. Candidates may print their admit cards from the sa...
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Posted Date : 06-Oct-2015 , 07:47:55 am | Posted By CASANSAAR
Errors in evaluation of exam papers may have cost many aspiring to become chartered accountants the coveted professional qualification. Several CA aspirants, who wrote the final examination in May this year but failed to make the grade, have alleged that the evaluators have goofed up, with many of t...
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Posted Date : 06-Oct-2015 , 07:36:31 am | Posted By CASANSAAR
Indian Overseas Bank (IOB) on Monday informed stock exchanges that the Reserve Bank of India (RBI) had initiated a “Prompt Corrective Action” on the lender to improve internal controls and consolidate its business activities. “The directions given by RBI are for improv...
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Posted Date : 06-Oct-2015 , 07:34:45 am | Posted By CASANSAAR
The government is staring at a revenue shortfall of around 5% in the current financial year but is confident of meeting the fiscal deficit target through better management of expenditure, senior officials in the finance ministry said on Monday. Top secretaries of the finance minis...
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Posted Date : 05-Oct-2015 , 07:55:46 am | Posted By CASANSAAR
Tax department's ability to detect large cash transactions is being strengthened to check the menace of black money as bulk of it remains within India, Finance Minister Arun Jaitley said on Sunday. "The monitoring regime of the income tax has been strengthene...
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Posted Date : 05-Oct-2015 , 07:49:49 am | Posted By CASANSAAR
ICAI Election 2015 Appointment of Panel for Scrutiny of nomination papers for election to the Twenty Third Council and Twenty Second Regional Councils – Change in composition thereof In accordance with the provisions contained in Rule 12 of the Chartered Accountants (Election to ...
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Posted Date : 04-Oct-2015 , 08:40:42 pm | Posted By CASANSAAR
To check generation of domestic black money, the government will soon make it mandatory to furnish PAN card details for cash transactions beyond a certain threshold, Finance Minister Arun Jaitley said today. “The government is at an advanced stage in considering the require...
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Posted Date : 03-Oct-2015 , 08:21:29 am | Posted By CASANSAAR
To ensure that there is no last-minute congestion on its e-filing portal, the Ministry of Corporate Affairs (MCA) has asked companies to submit their financial statements and annual returns at the earliest. The Ministry's message assumes significance as this would also be the first year...
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Posted Date : 03-Oct-2015 , 08:16:19 am | Posted By CASANSAAR
The Madras High Court Bench here has directed the Union Finance Ministry to consider a representation made by a lawyer based here to exempt all kinds of private educational coaching institutes and life insurance companies from payment of service tax. The court passed the order on a public inter...
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Posted Date : 02-Oct-2015 , 10:13:09 am | Posted By CASANSAAR
US markets regulator Securities and Exchange Commission (SEC) on Thursday charged Grant Thornton India LLP and Australia-based group firm Grant Thornton Audit Pty Ltd with auditor independence violations that occurred when two partners served on the boards of Mauritius-based subsidiaries of their cl...
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Posted Date : 01-Oct-2015 , 09:11:03 pm | Posted By CASANSAAR
As the final day of Black Money Disclosure approached 638 people have declared possession of Rs 3,770 crore, according to CBDT Chairperson Anita Kapur. Officials at Income Tax Department told ANI that people who have declared have until December 31st, 2015 for payment of taxes& penalty . ...
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Posted Date : 01-Oct-2015 , 08:59:55 pm | Posted By CASANSAAR
The Income Tax Department is in the process of upgrading software applications. It is for information of PAN applicants that PAN allotment by Income Tax Department will remain suspended between 05.10.2015 to 09.10.2015 due to PAN data migration activity. However, PAN applications, through on­...
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Posted Date : 01-Oct-2015 , 01:07:33 pm | Posted By CASANSAAR
Government of India Ministry of Finance Department of Revenue Central Board of Direct Tax PRESS RELEASE New Delhi, 1st October, 2015 Subject: Extension of date for filing of Income tax returns and tax audit reports to 31st October 2015 - regarding The issue of extension of last date f...
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Posted Date : 01-Oct-2015 , 01:02:15 pm | Posted By CASANSAAR
Becoz of so many legal verdicts by different courts, we have extended time of filing of audited tax returns upto 31st Oct for whole country. - Dr. Hasmukh Adhia (Revenue Secretary). Tweet of Revenue Secretary, We will confirm the authenticity and update the Notification Soon. Plz rely on it af...
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Posted Date : 01-Oct-2015 , 01:01:50 pm | Posted By CASANSAAR
The issue of extension of last date for e-filing returns of income and audit reports u/s 44AB due by 30thSeptember, 2015 has been the subject matter of litigation in various High Courts across the country. While some High Courts have ruled in favour of the extension of due date, some others ha...
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Posted Date : 30-Sep-2015 , 08:10:17 pm | Posted By CASANSAAR
Bombay High Court also directed the CBDT to extend the date to 31st Oct 2015. Bombay HC orders one month due-date extension, concurs with Gujarat HC reasoning. The Chamber of Tax Consultants Vs. Union of India & Ors. (Bombay High Court), WP 2764/2015, Filed on 22.09.2015 ...
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Posted Date : 30-Sep-2015 , 07:50:32 pm | Posted By CASANSAAR
Vide its order dated 30.09.2015 CBDT has extended due date only for the state of Haryana, Punjab , Union Territory of Chandigarh and Gujarat. F.No.225/207/2016/ITA.II Government of incite Ministry of Finance Department of Revenue Central Board of Direct Taxes North-Block, TA.II Div...
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Posted Date : 30-Sep-2015 , 02:51:15 pm | Posted By CASANSAAR
Tax payers seeking non deduction of tax from certain incomes are required to file a self declaration in Form No. 15G or Form No.15H as per the provisions of Section 197A of the Income-tax Act, 1961 (‘the Act’). In order to reduce the cost of compliance and ease the compliance burden for ...
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Posted Date : 30-Sep-2015 , 01:04:36 pm | Posted By CASANSAAR
Summary of the moves for the Extention of Date u/s 44AB (Tax Audit):- 1. Punjab & Haryana HC - Vishal Garg & Ors. Vs. Union of India & Anr (CWP-19770/2015) Directed CBDT to extend due date to 31st Oct.2015. 2. Gujarat HC - All Gujarat Federation of Tax Consultants ...
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Posted Date : 30-Sep-2015 , 12:25:38 pm | Posted By CASANSAAR
Tax Audit Date Extension Update:- As Interim Relief Orissa High Court also directed the CBDT to extend the date to 31st Oct 2015. Waiting for Order....
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Posted Date : 30-Sep-2015 , 07:44:04 am | Posted By CASANSAAR
Corporates are now required to furnish Permanent Account Number (PAN) while submitting their annual returns to the government, a move that would help in sharing of information between different departments. The Ministry of Corporate Affairs ( MCA), which is implementing the C...
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Posted Date : 29-Sep-2015 , 04:24:28 pm | Posted By CASANSAAR
Bombay HC: Judges pointed that once one HC rules under article 226, same would be binding on all HC in country. If CBDT don't respond by tomorrow they will hear it tomorrow. Matter adj to tomorrow at 3 pm...
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Posted Date : 29-Sep-2015 , 03:18:38 pm | Posted By CASANSAAR
Ceding to impassioned calls by corporate India, not to mention Finance Minister Arun Jaitley, the Reserve Bank of India on Tuesday cut the repurchase, or repo, rate by a higher-than-expected 50 basis points to 6.75%, the lowest the key interest rate has been in four years. T...
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Posted Date : 29-Sep-2015 , 01:34:08 pm | Posted By CASANSAAR
After Punjab & Haryana High Court the Gujarat High Court also directs CBDT to extend the due date for Filing of ITR to October 31st in its Judgement today....
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Posted Date : 29-Sep-2015 , 12:30:41 pm | Posted By CASANSAAR
Copy of the Order of P&H HC for Extension of efiling of Returns Last para of Punjab & Haryana HC Orders In view of the above, taking the totality of facts and circumstances of the case, it is considered appropriate to extend the due date for e-filing of returns upto 31st October 2015 for...
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Posted Date : 29-Sep-2015 , 11:57:43 am | Posted By CASANSAAR
In the case of Vishal Garg & Ors. Vs. Union of India & Anr., Punjab & Haryana HC extended due date of Tax Audit cases to 31st October 2015 from existing 30th September 2015. Its not clear if the due date for non audit cases also been extended or not for which we have to ...
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