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Posted Date : 04-Jul-2015 , 09:38:58 am | Posted By CASANSAAR
As India Inc slowly inches towards a relaxed dress code, a 'tax free' uniform allowance paid to employees will be relegated to history. Employees who are prescribed a uniform, say nurses in hospitals, or front-desk staff in hotels, can claim the uniform allowance paid to them as par...
Continue Reading... Category : TDS | Comments : 0 | Hits : 26099
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Posted Date : 04-Jul-2015 , 09:31:03 am | Posted By CASANSAAR
It costs the government Rs 1.14 to print a Re 1 note, a right to information query has revealed. Interestingly, Re 1 notes were discontinued over two decades ago for being too costly to manufacture. "It should be asked if the retrogressive step of re-issuing the cost...
Continue Reading... Category : Finance | Comments : 0 | Hits : 565
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Posted Date : 04-Jul-2015 , 09:25:18 am | Posted By CASANSAAR
The Income Tax departmenthas set up a special office in the national capital for those wanting to utilize the recently notified one-time black money compliance window and declare their untaxed assets. The Central Board of Direct Taxes (CBDT), the apex policy making ...
Continue Reading... Category : Black Money | Comments : 0 | Hits : 463
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Posted Date : 03-Jul-2015 , 01:03:12 pm | Posted By CASANSAAR
Nationwide mobile number portability, MNP which will allow customers to keep their existing mobile phone numbers while shifting between States and circles, will be operational from today. Presently, users can change their operator while retaining the same number only in the same State or telecom cir...
Continue Reading... Category : General | Comments : 0 | Hits : 615
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Posted Date : 03-Jul-2015 , 08:53:14 am | Posted By CASANSAAR
India will become the first country to make non-financial audit mandatory for companies of certain class. The audit, also known as secretarial audit, will ensure that all listed companies and public limited companies with paid-up capital of at least Rs 50 crore or public companies with a turnover of...
Continue Reading... Category : ICSI | Comments : 0 | Hits : 1695
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Posted Date : 03-Jul-2015 , 08:44:18 am | Posted By CASANSAAR
The Finance Ministry on Wednesday asked taxpayers to file their ITRs for 2015-16 early to avoid the rush towards the last date of August 31. The tax department, yesterday, made fully operational its e-filing website for taxpayers to file their I-T returns for assessment year...
Continue Reading... Category : ITR | Comments : 1 | Hits : 884
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Posted Date : 03-Jul-2015 , 08:16:34 am | Posted By CASANSAAR
With a view to improve credit discipline and reduce NPA level, the Reserve Bank today asked lenders to make use of credit information available with Central Repository of Information on Large Credits (CRILC) for opening of current accounts. Banks are advised to make use of the information availab...
Continue Reading... Category : RBI | Comments : 0 | Hits : 1081
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Posted Date : 02-Jul-2015 , 05:16:38 pm | Posted By CASANSAAR
ANNOUNCEMENT FOR ATTENTION OF STUDENTS APPEARING IN FINAL EXAMINATION Sub: Relaxation in the requirement of completing Advanced Course on Information Technology Training For admission to the Final Examination, one of the requirements under Regulation 29C of the Chartered Accoun...
Continue Reading... Category : CA Announcement | Comments : 0 | Hits : 1323
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Posted Date : 02-Jul-2015 , 08:51:59 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI), the regulator of Accountancy profession in India, celebrated its 66th CAs Day today all across the country through its 150 branches & 5 Regional Councils. To commemorate the occasion, a function was organized at New Delhi on July 1, 20...
Continue Reading... Category : CA | Comments : 0 | Hits : 766
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Posted Date : 02-Jul-2015 , 08:45:45 am | Posted By CASANSAAR
The Securities and Exchange Commission has charged Deloitte & Touche LLP with violating auditor independence rules when its consulting affiliate maintained a business relationship with a trustee serving on the boards and audit committees of three funds it audited. Deloitte agreed to p...
Continue Reading... Category : International Business | Comments : 0 | Hits : 1308
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Posted Date : 02-Jul-2015 , 08:36:24 am | Posted By CASANSAAR
Electronic Filing of Income Tax Returns for 2015-16 Commences; ITR 1-Sahaj, 2 and 2A can be Used by Individuals or HUF Whose Income Does not Include Income from Business; ITR 4S - SUGAM can be Used by an Individual or an HUF Whose Income Includes Business Income Assessable on Presumptive Ba...
Continue Reading... Category : ITR | Comments : 0 | Hits : 921
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Posted Date : 02-Jul-2015 , 08:30:06 am | Posted By CASANSAAR
Government has given three months time till 30th September for people to declare their undisclosed foreign income and assets to escape prosecution under the new Black Money Law. Those making the disclosure during this period will have further three-months time till 31st December this year to pay the...
Continue Reading... Category : Black Money | Comments : 0 | Hits : 869
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Posted Date : 01-Jul-2015 , 08:28:57 am | Posted By CASANSAAR
Heartfelt wishes on the occasion of Chartered Accountant’s Day!!! We hope that both the Profession and the Professionals will touch great heights in the forth coming years being the major contributor to the society’s economic well being. So let us join hands and celebrate the Golde...
Continue Reading... Category : CA | Comments : 0 | Hits : 607
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Posted Date : 30-Jun-2015 , 03:29:58 pm | Posted By CASANSAAR
ITR Form 2 and Form 2A also made available for electronic filing by CBDT CLICK HERE TO DOWNLOAD ITR 2 CLICK HERE TO DOWNLOAD ITR 2A ...
Continue Reading... Category : ITR | Comments : 0 | Hits : 631
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Posted Date : 30-Jun-2015 , 01:52:39 pm | Posted By CASANSAAR
PROGRAMME FOR ELECTIONS TO THE TWENTY-THIRD COUNCIL AND TWENTY-SECOND REGIONAL COUNCILS TO BE HELD IN THE YEAR 2015 [ As per provisions of the Chartered Accountants (Election to the Council) Rules, 2006 read with Regulation 134 of the Chartered Accountants Regulations, 1988] ...
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Posted Date : 30-Jun-2015 , 08:28:07 am | Posted By CASANSAAR
The Reserve Bank of India will remain open on July 1 to facilitate settlement of public and market transactions. "On a review and in order to facilitate the settlement of market transactions as also to aid the transactions of the general public, the Reserve Bank of India has decided that i...
Continue Reading... Category : RBI | Comments : 0 | Hits : 535
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Posted Date : 29-Jun-2015 , 09:12:54 pm | Posted By CASANSAAR
In order to end the trouble of sending paper-based acknowledgement of e-filed Income Tax Returns (ITRs), the Central Board of Direct Taxes (CBDT) is planning to send a one-time password (OTP) on taxpayers’ mobile phones, which will be valid for 24 hours after getting verified from the Aadhaar ...
Continue Reading... Category : Income Tax | Comments : 1 | Hits : 2183
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Posted Date : 29-Jun-2015 , 06:50:48 pm | Posted By CASANSAAR
The economic crisis in Greece may trigger capital outflows from India and the government is consulting the RBI to deal with the situation, finance secretary Rajiv Mehrishi said on Monday. Stating that the Greece situation has no direct impact on India, he said there may be some indirect effect ...
Continue Reading... Category : Finance | Comments : 0 | Hits : 532
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Posted Date : 29-Jun-2015 , 09:01:15 am | Posted By CASANSAAR
CA Vivek Khurana has declared his candidature for the Regional Council Election (NIRC) of ICAI. CA Vivek Khurana, Founder of casansaar.com, a renowned website is a practicing Chartered Accountant and fellow member of ICAI. Mr. Khurana is a Partner of Khurana Vivek & Co., a leading ...
Continue Reading... Category : ICAI Election | Comments : 3 | Hits : 1681
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Posted Date : 29-Jun-2015 , 08:45:36 am | Posted By CASANSAAR
ICAI has deferred a decision on adoption of new 'revenue recognition' concepts that the developed world is hesitating to implement. The proposal -- whether the new revenue recognition standard (Ind AS 115) should be adopted from April 1, 2016 or deferred -- was before the central counci...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 706
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Posted Date : 29-Jun-2015 , 08:29:36 am | Posted By CASANSAAR
On December 19, 2002, the Joint Parliamentary Committee (JPC) on stock market scams and related matters, which was probing the so-called Ketan Parekh scam of 1999-2001, presented its report in Parliament with 276 recommendations. Over several past years, various government bodies and regulatory a...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 540
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Posted Date : 28-Jun-2015 , 11:00:58 pm | Posted By CASANSAAR
With the new Income Tax Return (ITR) forms being recently notified for assessment year 2015-16, filers can do an easy check of their annual tax liability on a new computer-based 'calculator' launched by the CBDT. The 'tax calculator' is an online computer-based programme hosted ...
Continue Reading... Category : ITR | Comments : 0 | Hits : 556
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Posted Date : 28-Jun-2015 , 10:42:16 pm | Posted By CASANSAAR
The Reserve Bank of India, lenders and law enforcement agencies are working on a standard reporting format for banks to share investigation-related information after central agencies like Intelligence Bureau (IB) and Central Bureau of Investigation (CBI) complained about receiving data in different ...
Continue Reading... Category : RBI | Comments : 0 | Hits : 262
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Posted Date : 27-Jun-2015 , 10:04:04 pm | Posted By CASANSAAR
There is good demand for chartered accountants (CAs) in the country and more students should be attracted to this profession, according to P.R. Aruloli, Chairman of the Southern India Regional Council (SIRC) of the Institute of Chartered Accountants of India (ICAI). Speaking at ‘Jnana Dee...
Continue Reading... Category : CA | Comments : 9 | Hits : 3595
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Posted Date : 27-Jun-2015 , 08:05:37 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) has proposed changes in syllabus for the common proficiency test (CPT) - the first of the three CA examinations - of the Chartered Accountants course and introduce English proficiency test and general economics tests, said Babu Abraham Kallivaya...
Continue Reading... Category : CA Exams | Comments : 0 | Hits : 880
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Posted Date : 27-Jun-2015 , 07:53:51 am | Posted By CASANSAAR
In a move to increase retail investor participation and reduce volatility ahead of an offer-for-sale (OFS), securities market regulator SEBI on Friday tuned the procedure in sync with bank working days. The Securities and Exchange Board of India has directed companies that opt for share sales t...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 370
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Posted Date : 26-Jun-2015 , 09:25:26 pm | Posted By CASANSAAR
Government is likely to infuse additional USD 1.8 billion (about Rs 11,500 crore) in public sector banks this fiscal over and above USD 1.2 billion earmarked in the Budget, Finance Secretary Rajiv Mehrishi said today. "Will put additional USD 1.8 billion in PSU banks apart from USD 1.2 billi...
Continue Reading... Category : Bank | Comments : 0 | Hits : 456
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Posted Date : 26-Jun-2015 , 09:16:29 pm | Posted By CASANSAAR
As per Regulation 29C(1)(iv) of the Chartered Accountants’ Regulations 1988, students who have registered for Practical Training on or after February 1, 2013 are required to complete Advanced IT Training before admission to the Final Examination. The Council at its 343rd Meeting held on June 2...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 514
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Posted Date : 26-Jun-2015 , 08:43:57 am | Posted By CASANSAAR
Election Commission has decided to join hands with Institute of Chartered Accountants of India (ICAI) to clean the books of political parties by providing them a new set of accounting norms that would make their financial statements more transparent and accountable. The new accounting practises f...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 841
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Posted Date : 26-Jun-2015 , 08:41:38 am | Posted By CASANSAAR
Easing norms for accessing foreign funds, RBI allowed banks to borrow from international financial institutions for general banking business without seeking its permission. “With a view to providing greater flexibility in seeking access to overseas funds, it has now been decided...
Continue Reading... Category : RBI | Comments : 0 | Hits : 312
- Income Tax Dept serves notices to salaried individuals for documentary proof to claim exemptions
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- Payment of MCA fees –electronic mode-regarding
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- Provision of 15-minutes reading and planning time allowance to the candidates of Chartered Accountants Examinations
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- File Service Tax Return in time as Maximum Penalty increased 10 times to Rs. 20000
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