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Posted Date : 28-Apr-2015 , 09:52:28 pm | Posted By CASANSAAR
Corporates owed over Rs.4.85 lakh crore to the government as outstanding dues under direct and indirect taxes towards the end of the last fiscal, parliament was told on Tuesday. "The total outstanding tax demand pending collection under the head corporate tax under the Direct Tax laws as o...
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Posted Date : 28-Apr-2015 , 08:51:12 pm | Posted By CASANSAAR
In an effort to help banks facing asset quality woes and to revive investments in the critical infra sector, the government today discussed 85 large projects entailing Rs 3.51 lakh crore in outstanding bank credit. After a specially-convened meeting at the RBI headquarters, Financial Services Sec...
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Posted Date : 28-Apr-2015 , 10:40:28 am | Posted By CASANSAAR
POSTPONEMENT OF CA EXAMS SCHEDULED TO BE HELD FROM 2ND - 17TH, MAY, 2015 AT KATHMANDU (NEPAL) In view of the earthquake and consequent disruption of normal life in Nepal, the Intermediate (IPC) and Final Examinations scheduled to be held from 2nd May, 2015 to 17th May, 2015 at Kathmandu Cent...
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Posted Date : 28-Apr-2015 , 08:38:06 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has clarified that only nominee and independent directors who are not whole-time board members of a firm deemed as a 'wilful defaulter' would be excluded from being labelled as a party to the default. It has, however, said that promoters who are not whole-time...
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Posted Date : 28-Apr-2015 , 08:30:17 am | Posted By CASANSAAR
After the Satyam Computer Services accounting scandal, the spotlight has been turned on auditors again as at least three investor advisory services have called for an examination of the auditors’ role in the ongoing fight between United Spirits Ltd board and its chairman Vijay Mallya...
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Posted Date : 28-Apr-2015 , 08:15:10 am | Posted By CASANSAAR
The new format of Income Tax Return (ITR) forms that was withdrawn by the government in the wake of complaints over providing details of foreign trips and domestic bank accounts is being revised to make it simpler. "The new ITR format has been put into revision and it is on the drawing boa...
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Posted Date : 27-Apr-2015 , 08:56:59 am | Posted By CASANSAAR
A 35-year-old joint commissioner of income-tax from Gujarat was arrested by Borivli-based Kasturba Marg police on Saturday, for allegedly molesting and abusing a woman Chartered Accountant in Borivli East. the Azad Maidan police had booked him in January, for allegedly molesting and sending lewd mes...
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Posted Date : 27-Apr-2015 , 08:51:01 am | Posted By CASANSAAR
As part of its strategy of 'naming and shaming' big defaulters, the Income Tax department on Sunday published names of 31 tax evaders who owe over Rs 1,500 crore (Rs 15 billion) tax to the government. The names, last known addresses and vital financial details of these entities were pub...
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Posted Date : 27-Apr-2015 , 08:34:02 am | Posted By CASANSAAR
Minister of State for Finance Jayant Sinha today said as many as 2,015 companies listed on the Bombay Stock Exchange and 263 on the National Stock Exchange are yet to comply with market regulator SEBI's directive to appoint at least one woman director on the board. Replying to a questio...
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Posted Date : 26-Apr-2015 , 08:55:20 am | Posted By CASANSAAR
The Tax Deducted at Source (TDS) reconciliation analysis and correction enabling system (TRACES) portal of the Income Tax (I-T) department is preventing deductors to obtain TDS certificate unless past demands are paid and online correction submitted. This is turning out to be a nightmare for those, ...
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Posted Date : 25-Apr-2015 , 12:27:54 pm | Posted By CASANSAAR
Massive tremors lasting well over a minute were felt across northern India after a 7.5 magnitude earthquake hit Nepal this morning. Tremors were felt across eastern and northern parts of India, said JL Gautam, Head Operations Seismology of Indian Meteorological Department (IMD). "Earthquake ...
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Posted Date : 25-Apr-2015 , 09:02:56 am | Posted By CASANSAAR
The government has indicated that it might simplify the new ITR forms for filing income tax returns by breaking it up into parts so that not everyone has to grapple with complexity. Instead of one big form with many columns, the revised version might have annexures that only those who need to dec...
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Posted Date : 25-Apr-2015 , 08:42:30 am | Posted By CASANSAAR
Industries from now on will file just one labour compliance return for eight key labour laws ranging from the Industrial Disputes Act to Minimum Wages Act, the labour ministry said on Friday after easing the compliance process. The process has been taken online, making it smoother. Labour ministe...
Continue Reading... Category : Companies Act | Comments : 0 | Hits : 1017
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Posted Date : 24-Apr-2015 , 10:16:03 pm | Posted By CASANSAAR
Finance Minister Arun Jaitley today said the Goods and Services Tax Bill (GST) will simplify the tax regime and contribute significantly for the growth of country's economy. Moving the the Constitution amendment bill for consideration in the Lok Sabha, Mr. Jaitley said it would be a win win...
Continue Reading... Category : GST | Comments : 1 | Hits : 619
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Posted Date : 24-Apr-2015 , 10:12:57 pm | Posted By CASANSAAR
TDS on Recurring Deposits The Government proposes to promote the recurring deposits scheme. It takes various measures on continuous basis to promote and popularize all small savings scheme including Post Office Recurring Deposit Scheme through electronic and print media as well as h...
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Posted Date : 24-Apr-2015 , 10:06:15 pm | Posted By CASANSAAR
Section 80DD of the Income Tax Act, 1961, inter alia, provides for a deduction to an individual or HUF, who is a resident in India, and • Incurs expenditure for the medical treatment (including nursing), training and rehabilitation of a dependant, being a person with disability; or •...
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Posted Date : 24-Apr-2015 , 10:01:59 pm | Posted By CASANSAAR
Implementation of New Companies Act The provisions of section 125 and section 132 of the Companies Act, 2013 respectively provide details about the constitution, powers and responsibility of the Investor Education and Protection Fund Authority (IEPFA) and National Financial Reportin...
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Posted Date : 24-Apr-2015 , 09:05:48 am | Posted By CASANSAAR
Companies will soon have to follow stringent norms such as providing detailed explanation on implications of particular resolutions while conducting board and shareholders' meetings. These provisions are part of new Secretarial Standards, which will have to be mandatorily followed by co...
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Posted Date : 24-Apr-2015 , 08:14:53 am | Posted By CASANSAAR
With most states on board, the government proposes to take up for consideration and passage a Constitution Amendment bill in the Lok Sabha Friday to roll out the Goods and Services Tax (GST). "The government will move the bill today and try to get it passed by Monday," a highly-placed s...
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Posted Date : 24-Apr-2015 , 08:06:05 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has revamped priority sector lending (PSL) norms. Now, loans to sectors such as social infrastructure, renewable energy and medium enterprises will also be treated as PSL. While retaining the 40 per cent PSL target for domestic banks, the distinction between direct...
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Posted Date : 23-Apr-2015 , 08:46:37 am | Posted By CASANSAAR
With income tax returns (ITR) filing season commencing soon, taxpayers have been advised to re-check their newassessment ranges as the Income Tax department has carried out a large-scale restructuring and jurisdictional change of its offices country-wide. “Taxpayers ar...
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Posted Date : 23-Apr-2015 , 08:42:14 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has put in place an early warning system to prevent financial frauds. The market intelligence units in its regional offices have been asked to pick-up early warnings on unscrupulous practices followed by financial institutions. This is part of the restructuring o...
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Posted Date : 22-Apr-2015 , 09:38:10 pm | Posted By CASANSAAR
Finance Minister Arun Jaitley today said that the government will go ahead with constitutional amendment for Goods and services tax, GST in the current session of Parliament as there is a broad consensus among states on the issue. Mr Jaitley was speaking to reporters after meeting Finance Ministers ...
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Posted Date : 22-Apr-2015 , 09:35:22 pm | Posted By CASANSAAR
The government has refused to give any relaxation to the Foreign Institutional Investors,FIIs on the 40,000 crore rupees past tax demand and said remedy lies in judicial appeal. Talking to reporters after meeting with FIIs Minister of Finance Jayant Sinha said, NDA government is a responsive governm...
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Posted Date : 22-Apr-2015 , 09:01:08 pm | Posted By CASANSAAR
The government will soon launch an online facility under which a PAN card will be issued within 48 hours of applying. Besides, special camps will be organised throughout the country, including rural areas, to help people get PAN cards. Permanent Account Number (PAN) is a 10-digit alpha numeric numbe...
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Posted Date : 22-Apr-2015 , 08:56:59 am | Posted By CASANSAAR
Facing criticism over the new ITR forms that seek details on bank accounts and foreign travel, Finance Minister Arun Jaitley will hold another round of meeting with officials to simplify the procedure. Soon after his trip from Washington yesterday, Jaitley had held a meeting with tax officials on...
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Posted Date : 22-Apr-2015 , 08:50:03 am | Posted By CASANSAAR
File validation utility (FVU) version 2.142 from FY 2007-08 to FY 2009-10 and 4.6 from FY 2010-11 and onwards released. ​Download e-TDS/TCS FVU.exe (Version 2.142) Key Features –File Validation Utility (FVU) version 2.142 Quoting of PAN of responsible...
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Posted Date : 22-Apr-2015 , 08:41:03 am | Posted By CASANSAAR
e-TDS/TCS RPU (Version 4.3) for Statements from FY 2007-08 onwards released. Download e-TDS/TCS RPU (Version 4.3) for Statements from FY 2007-08 onwards. Key Features – Return Preparation Utility (RPU) version 4.3 Quoting of PAN of responsible person...
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Posted Date : 22-Apr-2015 , 08:27:36 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) is working on a proposal submitted by the National Payment Corporation (NPCI) to connect all cash deposit machines through the National Financial Switch (NFS). This will make these machines interoperable and allow a customer of a particular ba...
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Posted Date : 22-Apr-2015 , 08:18:01 am | Posted By CASANSAAR
Government Decides to Fix Interest Rates at 8.7% for General Provident Fund(GPF) and other Similar Funds Including Special Deposit Scheme, 1975(SDS,1975) for Non-Government Provident, Superannuation and Gratuity Funds for the Financial Year 2015-16 ...
Continue Reading... Category : General | Comments : 0 | Hits : 280
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