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Posted Date : 30-Aug-2021 , 08:20:38 am | Posted By CASANSAAR
On consideration of difficulties reported by the taxpayers and other stakeholders in electronic filing of certain Forms under the provisions of the Income-tax Act,1961 read with Income-tax Rules,1962 (Rules), Central Board of Direct Taxes (CBDT) has decided to further extend the due dates for electr...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 516
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Posted Date : 30-Aug-2021 , 08:17:29 am | Posted By CASANSAAR
Under The Direct Tax Vivad se Vishwas Act 2020 (hereinafter referred to as “Vivad se Vishwas Act”), the amount payable by the declarant is stated in the table under section 3 of the Vivad se Vishwas Act. As per the latest notification dated 25th June 2021, the last date...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 337
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Posted Date : 28-Aug-2021 , 07:45:27 am | Posted By CASANSAAR
GSTN stated in the advisory that “a registered person shall not be allowed to furnish the details of outward supplies of goods or services or both under section 37 in Form GSTR-1, if he has not furnished the return in Form GSTR-3B for preceding two months." Businesses have to file GSTR...
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Posted Date : 28-Aug-2021 , 07:39:10 am | Posted By CASANSAAR
Reserve Bank of India has announced issue price for Sovereign Gold Bond Scheme 2021-22 - Series VI. RBI has fixed price of 4,732 Rupee per gram for bonds which will be available for subscription from Monday and will remain open till 3rd September 2021. A discount of Rupees 50 will be given to inv...
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Posted Date : 27-Aug-2021 , 09:46:39 am | Posted By CASANSAAR
The Reserve Bank of India has appointed Shri Ajay Kumar as Executive Director (ED) with effect from August 20, 2021. Prior to being promoted as ED, Shri Ajay Kumar was heading the New Delhi Regional Office of the Bank as Regional Director. Shri Kumar has, over a span of three decades, served i...
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Posted Date : 25-Aug-2021 , 08:16:45 am | Posted By CASANSAAR
No Gujarati thali is complete without a papad, be it fried or roasted. Fortunately for consumers, as the GST burden is ultimately borne by them, the Gujarat bench of the Authority for Advance Ruling (AAR) has held that Papads will attract nil GST. Interestingly, the AAR bench observed that Papa...
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Posted Date : 24-Aug-2021 , 09:15:30 am | Posted By CASANSAAR
Finance Minister Nirmala Sitharaman has given time to Infosys till September 15 to fix glitches in the new e-filing portal of the Income Tax Department, said a statement issued by the government on August 23. Sitharaman, who summoned Infosys top brass for a meeting earlier in the day, conveyed th...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 424
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Posted Date : 24-Aug-2021 , 08:47:37 am | Posted By CASANSAAR
The expert committee on Urban Co-operative Banks was set up on February 2021 under the chairmanship of former Deputy Governor of Reserve Bank of India (RBI), NS Vishwanathan. The expert committee on August 23 submitted its report in two parts. The first part of the report lays o...
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Posted Date : 24-Aug-2021 , 08:42:32 am | Posted By CASANSAAR
Finance Minister Nirmala Sitharaman on Monday announced a Rs 6 lakh crore National Monetisation Pipeline (NMP) that will look to unlock value in infrastructure assets across sectors ranging from power to road and railways. She also said the asset monetisation does not involve selling of land and ...
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Posted Date : 23-Aug-2021 , 08:31:49 am | Posted By CASANSAAR
GST will not be levied on the amount paid by employees for availing canteen facilities provided by their employers, the AAR has ruled. Tata Motors had approached the Gujarat bench of Authority for Advance Ruling (AAR) seeking a ruling on whether Goods and Services Tax (GST) is applic...
Continue Reading... Category : GST | Comments : 0 | Hits : 457
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Posted Date : 23-Aug-2021 , 08:13:38 am | Posted By CASANSAAR
The Ministry of Finance has summoned Infosys on August 23 as the new IT portal continues to see glitches even 2.5 months after the launch. The portal was not accessible from August 21. In a tweet, the IT department said, “Ministry of Finance has summoned Salil Parekh, MD&CEO @Infosys on...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 452
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Posted Date : 19-Aug-2021 , 09:01:38 am | Posted By CASANSAAR
The Reserve Bank on Wednesday came out with revised guidelines for the hiring of lockers under which the liability of banks will be limited to 100 times its annual rent in case of fire, theft, building collapse or frauds by bank employees. As per the revised guidelines, which shall come into effe...
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Posted Date : 19-Aug-2021 , 08:53:41 am | Posted By CASANSAAR
The regulatory framework for limited liability partnerships (LLPs) is set to get more refined with a new set of accounting standards, a special regime for startups using the LLP form, and special courts for trial of offences. The ministry of corporate affairs (MCA) has said amendments to the LLP ...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 494
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Posted Date : 12-Aug-2021 , 09:25:25 am | Posted By CASANSAAR
Over ₹ 49,000 crore in foreign funds were received by more than 18,000 NGOs in the country in the last three years, Rajya Sabha was informed on Wednesday. Union Minister of State for Home Nityanand Rai said ₹ 16,940.58 crore were received by the NGOs in 2017-18, ₹ 16,525.73 cror...
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Posted Date : 11-Aug-2021 , 10:26:10 am | Posted By CASANSAAR
In order to bring in greater transparency in reporting of financial statements, the Ministry of Corporate Affairs (MCA) vide notification dated 24.03.2021 has amended the Schedule III to the Companies Act, 2013 effective from 01st April, 2021 to mandate various disclosures by companies in their fina...
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Posted Date : 10-Aug-2021 , 08:24:19 am | Posted By CASANSAAR
The scheme ‘Vivad Se Vishwas’ is a voluntary scheme for resolving pending direct tax disputes amicably with the taxpayers and no targets were fixed by the Government under the Scheme. This was stated by Union Minister of State for Finance Shri Pankaj Chaudhary in a written reply to...
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Posted Date : 10-Aug-2021 , 08:15:39 am | Posted By CASANSAAR
The Reserve Bank on Monday issued draft guidelines to further liberalise regulatory framework governing overseas investments with a view to promote ease of doing business. The RBI has placed on its website two documents -- draft Foreign Exchange Management (Non-debt Instruments - Overseas Investm...
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Posted Date : 09-Aug-2021 , 07:28:45 am | Posted By CASANSAAR
Capital markets regulator Sebi has overhauled the rules pertaining to the appointment, removal and remuneration of independent directors to ensure their independence and effectiveness. The development assumes significance in the backdrop of the role of independent directors coming under scrutiny ...
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Posted Date : 07-Aug-2021 , 08:44:49 am | Posted By CASANSAAR
Prime Minister Shri Narendra Modi on August 2nd launched digital payment solution e-RUPI, a cashless and contactless instrument for digital payment. Prime Minister said that the eRUPI voucher is going to play a huge role in making Direct Benefit Transfer (DBT) more effective in digital tr...
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Posted Date : 07-Aug-2021 , 08:41:59 am | Posted By CASANSAAR
The Monetary Policy Committee of RBI kept the Repo rate unchanged at 4 per cent. The repo rate is kept unchanged for the 7th consecutive time. Other major rates like Reverse Repo Rate, Bank Rate, MSF, CRR, SLR have also been kept unchanged. In a statement, Governor Shaktikanta Das said, The MPC has ...
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Posted Date : 06-Aug-2021 , 09:21:36 am | Posted By CASANSAAR
Finance Minister Nirmala Sitharaman yesterday introduced the Taxation Laws (Amendment) Bill, 2021 in the Lok Sabha that seeks to withdraw tax demands made using a 2012 retrospective legislation to tax the indirect transfer of Indian assets. The bill seeks to amend the Income Tax Act of 1961...
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Posted Date : 05-Aug-2021 , 08:23:36 am | Posted By CASANSAAR
The Cabinet on Wednesday approved continuation of Centrally Sponsored Scheme for Fast Track Special Courts for further two years till 31st March 2023. Briefing media Information and Broadcasting Minister Anurag Singh Thakur said, 1,023 Fast Track Special Courts have been given get two-year extension...
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Posted Date : 04-Aug-2021 , 07:14:09 am | Posted By CASANSAAR
To provide easy access to investors to participate in public and rights issues by using various payment avenues, markets regulator Sebi on Tuesday allowed payments banks to carry out the activities of investment bankers. Non-scheduled payments banks, which have prior approval from the Reserve Ban...
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Posted Date : 04-Aug-2021 , 07:08:28 am | Posted By CASANSAAR
There is no definition of the term “Shell Company” in the Companies Act. It normally refers to a company without active business operation or significant assets, which in some cases are used for illegal purpose such as tax evasion, money laundering, obscuring ownership, benami properties...
Continue Reading... Category : MCA | Comments : 0 | Hits : 12087
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Posted Date : 04-Aug-2021 , 07:05:41 am | Posted By CASANSAAR
On consideration of difficulties reported by the taxpayers and other stakeholders in electronic filing of certain Forms under the provisions of the Income-tax Act,1961 read with Income-tax Rules,1962 (Rules), Central Board of Direct Taxes (CBDT) has decided to further extend the due dates for electr...
Continue Reading... Category : CBDT | Comments : 0 | Hits : 12304
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Posted Date : 03-Aug-2021 , 10:17:06 am | Posted By CASANSAAR
Prime Minister Narendra Modi on Monday launched digital payment solution e-RUPI, a person and purpose specific cashless digital payment solution, via videoconference. Speaking on the occasion, he said the eRUPI voucher was a symbol of how India was progressing by connecting people’s lives with...
Continue Reading... Category : Banking | Comments : 0 | Hits : 12765
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Posted Date : 03-Aug-2021 , 10:06:02 am | Posted By CASANSAAR
Markets regulator Sebi has reduced the minimum application value of REITs and InvITs, and revised trading lot to one unit for these emerging investment instruments to make them attractive for retail investors. The minimum application value has been cut down to the range of Rs 10,000-15,000 for bo...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 235
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Posted Date : 03-Aug-2021 , 09:55:47 am | Posted By CASANSAAR
Accounting firm Ernst & Young LLP, a partner and two former employees agreed to pay more than $10 million to settle U.S. Securities and Exchange Commission charges they violated auditor independence rules, the agency said on Monday. Ernst & Young, partner James Herring and former partners...
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Posted Date : 03-Aug-2021 , 09:17:27 am | Posted By CASANSAAR
The Delhi High Court has recalled an order directing CBI to probe whether an email that was sent to a private company by the Income tax department was genuine or not, after the authorities submitted that the communication was “triggered due to a systems error” and withdrew its allegation...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 11921
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Posted Date : 02-Aug-2021 , 08:37:42 am | Posted By CASANSAAR
Treated and purified sewage water is classified as 'water' under the GST Act and its supply for industrial use would attract an 18 per cent tax, the Authority for Advance Ruling (AAR) has said. Nagpur Waste Water Management Pvt Ltd had approached the Maharashtra bench of AAR seeking a rul...
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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
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