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Posted Date : 10-Apr-2015 , 08:22:24 am | Posted By CASANSAAR
As a special court sentenced B Ramalinga Raju, chairman of erstwhile SatyamComputers, to 7 years in jail along with a Rs 5 crore penalty and holding two former partners of its auditing firm Price Waterhouse accountable in the fraud case, regulatory officials, who were involved wi...
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Posted Date : 09-Apr-2015 , 11:11:54 pm | Posted By CASANSAAR
Former chairman of Satyam Computers B. Ramalinga Raju and nine other accused in the Satyam Computers scandal have been awarded seven years rigorous imprisonment and imposed varying amounts of fine by a Special Court in Hyderabad on Thursday. All the 10 accused in the multi-crore Satyam Computers acc...
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Posted Date : 09-Apr-2015 , 09:26:50 pm | Posted By CASANSAAR
CA Exams Admit cards in respect of all eligible candidates admitted to the Intermediate (IPC) and Final May 2015 examination, with their photographs and signatures on them, are hosted on www.icai.nic.in. Candidates may print their admit cards from the said website. For downloa...
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Posted Date : 09-Apr-2015 , 12:55:01 pm | Posted By CASANSAAR
IMPORTANT ANNOUNCEMENT April 9th, 2015 Subject: Zone-shifting of candidates for May - 2015 CA Exams Due to paucity of accommodation in certain Zones opted by the candidates in the cities of Bengaluru, Chennai, Delhi and Mumbai some of the candidates have been allotted examinations centres i...
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Posted Date : 09-Apr-2015 , 08:30:10 am | Posted By CASANSAAR
We are receiving queries from the members regarding applicability of CARO, 2003 along with Auditors’ Report on financial statements of companies for the financial year 2014-15. The Ministry of Corporate Affairs (MCA) is working on it and has constituted a Committee for this purpose to analyse ...
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Posted Date : 09-Apr-2015 , 08:04:11 am | Posted By CASANSAAR
Companies, which have failed to comply with the Sebi norm of appointing at least one woman director on their board will have to pay a fine of at least Rs 50,000 which could go progressively higher depending on the period of non-compliance. The circular issued on Wednesday said th...
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Posted Date : 08-Apr-2015 , 04:06:07 pm | Posted By CASANSAAR
Bank Branch Audits for the year 2014-15 Dear Sir, It has come to our notice that Public Sector Banks do put pressure on their branch auditors to complete their audits in the first 7 or 10 days of April itself. We strongly feel that providing such limited time for completion o...
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Posted Date : 08-Apr-2015 , 08:46:47 am | Posted By CASANSAAR
RBI Governor Raghuram Rajan warned companies against keeping their foreign currency exposures unhedged, saying they might face "big risk" in case of change in the monetary policy globally. "They (companies) have to recognise that they are taking a big risk (by not hedging the...
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Posted Date : 07-Apr-2015 , 10:41:15 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Tuesday allowed microfinance institutions (MFI) to lend up to Rs 1 lakh to small borrowers. The increase in the limit was suggested by the Nachiket Mor committee on Comprehensive Financial Services for Small Businesses and Low Income Households. The borro...
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Posted Date : 07-Apr-2015 , 07:01:35 pm | Posted By CASANSAAR
At a time when the Centre is trying to increase the share of rail-based traffic, an excise department move may end up shifting container traffic away from rail to roads. The excise department wants to impose full service tax on containerised traffic without providing the 70 per cent abatement a...
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Posted Date : 07-Apr-2015 , 12:37:12 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) kept the repo rate unchanged at 7.5% in its monetary policy review on tuesday. Along market expectations, Raghuram Rajan also kept the Cash Reserve Ratio (CRR) at 4%. "Transmission of policy rates to lending rates has not taken place so far des...
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Posted Date : 07-Apr-2015 , 08:16:10 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has given banks more time to restructure their troubled loans. On March 30, a day before the fiscal came to close, the central bank allowed banks to continue restructuring of loans if references were made either to the corporate debt restructuring (CDR)...
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Posted Date : 07-Apr-2015 , 08:10:29 am | Posted By CASANSAAR
The proposed new rate of service tax of 14 per cent will be applicable from a date to be notified by the government after passage of the Finance Bill 2015 by Parliament & Signed by the President of India. Till then the current rate of 12 per cent will continue along with two per cen...
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Posted Date : 06-Apr-2015 , 04:40:33 pm | Posted By CASANSAAR
Finance Minister Arun Jaitley has said that the government will move GST Constitutional Amendment Bill in Lok Sabha in next few weeks. He also said that the government will provide reasonable compliance window under the new black money law. Adding further he said that a group wi...
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Posted Date : 06-Apr-2015 , 01:50:03 pm | Posted By CASANSAAR
Finance Minister Arun Jaitley on Monday promised a "reasonable compliance window" under the new black money law for persons with overseas funds to come clean, even as he asserted that targetting undeclared assets cannot be termed as 'tax terrorism'. Addressing industry represent...
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Posted Date : 06-Apr-2015 , 08:04:10 am | Posted By CASANSAAR
Raising concerns, the chartered accountants’ apex body Institute of Chartered Accountants of India (ICAI) has said the current process for selecting auditors at public sector banks could compromise their “independence” in carrying out the auditing job. ICAI has conveyed its...
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Posted Date : 06-Apr-2015 , 07:50:35 am | Posted By CASANSAAR
In the biggest-ever tax demand slapped on them, nearly 100 foreign funds have been asked to cough up an estimated US $5-6 billion for 'untaxed gains' made by them in the domestic markets over the past years by income tax department. The number of affected investors can rise substantiall...
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Posted Date : 06-Apr-2015 , 07:32:59 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has relaxed the Know Your Customer norms and allowed sole proprietor firms to open accounts in co-operative banks by submitting a single proof of their business. Earlier, they were required to submit two such documents. The Apex bank in a communication to urban, st...
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Posted Date : 04-Apr-2015 , 08:02:09 am | Posted By CASANSAAR
The Reserve Bank of India has nixed a plan for additional bank holidays on alternate Saturdays. The banking sector regulator feels that the infrastructure for keeping key deposit related functions need to be strengthened before the banks can down shutters to enjoy a five day week. Recently the ...
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Posted Date : 03-Apr-2015 , 05:29:10 pm | Posted By CASANSAAR
The Enforcement Directorate (ED) has registered a money laundering case against the former CMD of Syndicate Bank SK Jain and others who were last year arrested by CBI in a bribery and corruption case. Sources said the agency slapped charges under the Prevention of Money Launderin...
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Posted Date : 02-Apr-2015 , 06:54:37 pm | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has ushered in a new framework for computation of taxable income for businesses. For this purpose, CBDT has now notified 10 income computation and disclosure standards (ICDS) that will go long way in minimising tax related disputes. These 10 ICDS &m...
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Posted Date : 02-Apr-2015 , 08:32:16 am | Posted By CASANSAAR
It is Our great pleasure to announce that, CAsansaar has come up with an another exclusive feature “CA FIRMS” for the Practicing Chartered Accountants. We have design this page specially for Practicing Chartered Accountants, who can Submit the details of their...
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Posted Date : 02-Apr-2015 , 08:23:08 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Wednesday prescribed a uniform provisioning norm for banks in respect of all cases of fraud. The central bank said the entire amount due to the bank (irrespective of the quantum of security held against such assets), or for which the bank is liable (including ...
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Posted Date : 01-Apr-2015 , 09:47:16 pm | Posted By CASANSAAR
If one has to learn the benefits of banking, it is from these beggars in Bihar who have started their own bank, which they operate to provide financial assistance to fellow beggars. The bank named as Mangla Bank is situated at Gaya town near Maa ‘Maa Manglagauri Mandir, where these beggar...
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Posted Date : 01-Apr-2015 , 04:31:05 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) has given its nod to the merger of ING Vysya Bank and Kotak Mahindra Bank, the exchanges were informed today. The merger will come into effect from April 1, 2015. In February 2015, the proposed Rs 15,000-crore merger ...
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Posted Date : 01-Apr-2015 , 04:26:18 pm | Posted By CASANSAAR
CBI today arrested Jodhpur's Chief Commissioner of Income Tax PK Sharma on bribery charges after Rs 15 lakh were allegedly received by a local jeweller on his behalf. CBI had last night detained Income Tax Officer Shailendra Bhandari in connection with the case, agency so...
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Posted Date : 01-Apr-2015 , 04:01:39 pm | Posted By CASANSAAR
WhatsApp calling has finally arrived. WhatsApp users will need to update to version 2.12.5 (or above) from Google Play. If the update is not available directly from Google Play, users can get the latest version from here. The calling feature will automatically get activated after updating the a...
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Posted Date : 01-Apr-2015 , 10:35:23 am | Posted By CASANSAAR
Service Tax changes applicable from 1.4.2015 A) Exemptions withdrawn Following services provided to government, local authority or a governmental authority by way of construction, erection, commissioning, installation, completion, fitting out, repair, maintenance, re...
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Posted Date : 01-Apr-2015 , 08:42:57 am | Posted By CASANSAAR
Higher rates of service tax (from 12.36% to 14%) will become effective only when the Finance Act 2015 is enacted and not from Wednesday (01/04/2015) . "The increase in service tax rate from 12.36% to 14% will take effect only from the day a notification is issued specifying an effective date...
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Posted Date : 01-Apr-2015 , 08:12:55 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has given more time to taxpayers to apply for ‘roll back’ facility under the advance pricing agreements (APA). Applications for roll back facility could now be made up to June 30 this year, the CBDT said in a statement here. The CBDT had...
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- Income Tax Dept serves notices to salaried individuals for documentary proof to claim exemptions
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- 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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