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Posted Date : 17-Mar-2015 , 07:07:15 am | Posted By CASANSAAR
CA Vivek Khurana has declared his candidature for the Regional Council Elections (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...
Continue Reading... Category : ICAI Election | Comments : 1 | Hits : 2443
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Posted Date : 16-Mar-2015 , 03:45:31 pm | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) has shot off a fresh warning to listed companies to appoint, at least, one woman director on their Boards by the April 1 deadline failing which they would face regulatory action. The market regulator was informed by the stock exchanges that close to ...
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Posted Date : 16-Mar-2015 , 08:07:39 am | Posted By CASANSAAR
In a new guidance to auditors on reporting suspected frauds, ICAI has asked them to apply "professional skepticism" before flagging such cases to the government and take into account the measures already taken by the companies internally. In a detailed guidance note on reporting o...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 727
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Posted Date : 16-Mar-2015 , 07:43:27 am | Posted By CASANSAAR
The Narendra Modi government has moved to plug leakages in the rural job scheme, tightening norms for social audit of the programme to ensure speedy follow-up on their findings. The move comes a fortnight after the prime minister called the scheme “a living reminder” of fai...
Continue Reading... Category : Auditing | Comments : 0 | Hits : 440
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Posted Date : 15-Mar-2015 , 11:08:17 pm | Posted By CASANSAAR
Chartered accountants’ apex body ICAI today said it will initiate necessary disciplinary action against member Khemchand Gandhi, who has been arrested by the CBI for allegedly leaking “secret” government documents, after receiving details from the investigative agency. The Ins...
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Posted Date : 15-Mar-2015 , 01:28:51 pm | Posted By CASANSAAR
An official of a high profile consultancy group has come under CBI scanner in connection with its probe into the alleged sale of confidential government records on foreign investment policies to corporate groups by officials. CBI sources said that during the questioning of five arrested persons i...
Continue Reading... Category : Chartered Accountant | Comments : 0 | Hits : 981
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Posted Date : 14-Mar-2015 , 10:16:21 pm | Posted By CASANSAAR
Dear Members, The bank branch audit season is around the corner. Given the fact that the banking industry is typical in terms of its geographical and customer spread, the volume and varied nature of products and services offered, coupled with the strict constraints for completing the audits,...
Continue Reading... Category : Bank Branch Audit | Comments : 0 | Hits : 1226
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Posted Date : 14-Mar-2015 , 04:03:01 pm | Posted By CASANSAAR
Banks has start sending emails for Bank Branch Statutory Audits. Mails received from following Banks as per our confirmation. Syndicate Bank Canara Bank Bank of Baroda Bank of India Union Bank of India Punjab National Bank UCO Bank Allahabad ...
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Posted Date : 14-Mar-2015 , 11:10:10 am | Posted By CASANSAAR
Widening its probe in the corporate espionage scandal, the Central Bureau of Investigation (CBI) on Friday searched the premises of another CA firms and a law firm in Mumbai for allegedly acting as intermediaries to pass on sensitive information from government officials to corporate ...
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Posted Date : 14-Mar-2015 , 08:44:39 am | Posted By CASANSAAR
The Non Performing Assets (NPAs) of the banks in the country stood at Rs 3,00,611 crore as on December 2014, government told Lok Sabha Friday, attributing the increase of NPAs to sluggishness in growth. Of the total NPAs, Rs 2,62,402 crore belonged to nationalised banks, Rs 38,209 belonged to pri...
Continue Reading... Category : NPA | Comments : 0 | Hits : 521
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Posted Date : 14-Mar-2015 , 08:41:21 am | Posted By CASANSAAR
The Bombay high court refused any relief to a hospital run by Yash Society, a charitable trust of the Birla group, that was seeking income tax exemption on the grounds that it was running a philanthropic institution. A division bench of Justice M S Sanklecha and Justice G S Kulkarni questioned th...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 558
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Posted Date : 13-Mar-2015 , 08:41:58 am | Posted By CASANSAAR
Services on MCA (www.mca.gov.in) portal will not be available from 08:00 AM to 06:00 PM on Saturday, 14th March 2015. We regret the inconvenience caused and request the stakeholders to plan accordingly.- MCA...
Continue Reading... Category : MCA | Comments : 0 | Hits : 489
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Posted Date : 13-Mar-2015 , 08:31:40 am | Posted By CASANSAAR
Even after the government clarified that multinational companies in India do not have to pay retrospective tax, sword is still hanging on more than 500 MNCs whose underlying assets are in India. The income tax department is doing reassessment of all retrospective tax cases that a...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 536
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Posted Date : 13-Mar-2015 , 08:16:55 am | Posted By CASANSAAR
Busting a major ring of a well known CA and government servants, CBI has registered a case of alleged sale of confidential documents related to foreign investment policies which were passed on to major corporate groups of the country. CBI sources said a major coordinated search operation ...
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Posted Date : 13-Mar-2015 , 07:42:56 am | Posted By CASANSAAR
Income Tax authorities have slapped a prosecution notice on the Naresh Goyal-promoted Jet Airways for alleged default in payments of tax deduction at source (TDS), official sources said on Thursday. The notice was served to the Mumbai-headquartered airline after tax personnel said ...
Continue Reading... Category : TDS | Comments : 0 | Hits : 581
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Posted Date : 12-Mar-2015 , 10:40:53 pm | Posted By CASANSAAR
Parliament on Thursday approved the NDA government's first major economic reform measure as the long-pending bill providing for raising foreign investment cap to 49 per cent in insurance was passed by Rajya Sabha after main opposition Congress and some other parties came on board. ...
Continue Reading... Category : Finance | Comments : 0 | Hits : 319
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Posted Date : 12-Mar-2015 , 12:05:49 pm | Posted By CASANSAAR
Draft Guidelines for Issuing Secretarial Audit Report, Signing and Certification of Annual Return - ICSI. In exercise of the powers conferred by Clause (1) of Part II of the Second Schedule to the Company Secretaries Act, 1980 (56 of 1980), as amended by the Company Secretaries (Amendment) Act, 2...
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Posted Date : 12-Mar-2015 , 08:53:07 am | Posted By CASANSAAR
The Institute of Cost Accountants of India (ICAI) will be organizing an Asian Summit on Health Care Cost Management on the theme "Touching Lives through Cost Management in Health Care" on March 12 and 13 in New Delhi. One of the important objectives of Government i...
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Posted Date : 12-Mar-2015 , 08:48:30 am | Posted By CASANSAAR
In a boost to banks, which are facing rising asset quality issues, the Reserve Bank of India, on Wednesday, allowed such lenders to reverse the excess provision on sale of bad loans to their profit and loss account, provided the transaction took place before February 26, 2014. The central bank ...
Continue Reading... Category : NPA | Comments : 0 | Hits : 801
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Posted Date : 12-Mar-2015 , 08:39:34 am | Posted By CASANSAAR
Co-operative banks will be required to deduct TDS if the interest they pay to a depositor, who is also a member (shareholder) of these banks, exceeds ₹10,000 in a financial year. In this regard, the Finance Bill 2015-16 has proposed an amendment to Section 194A of the Income Tax Act (rela...
Continue Reading... Category : TDS | Comments : 0 | Hits : 624
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Posted Date : 12-Mar-2015 , 08:28:42 am | Posted By CASANSAAR
The Patna high court on Wednesday directed the government to stop collecting service tax from pilgrims at Bodh Gaya. A division bench of Chief Justice L Narasimha Reddy and Justice Vikas Jain, while hearing a PIL, also ordered constitution of a committee under the supervision of Bihar State...
Continue Reading... Category : Service Tax | Comments : 0 | Hits : 422
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Posted Date : 11-Mar-2015 , 06:51:19 pm | Posted By CASANSAAR
The government today said it has limited fiscal space to recapitalise PSU banks and they can raise funds from the market to meet their capital needs. "The government doesn't have space to give Rs. 20,000 crore or 25,000 crore (for capital infusion) ... If banks require fu...
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Posted Date : 11-Mar-2015 , 08:26:56 am | Posted By CASANSAAR
The tax office is exploring all avenues to mop up revenue collection before March 31. In an unusual development, hundreds of companies have received letters from the income-tax department, "requesting" them to deposit the amount from tax deductions before the financial year closes — ...
Continue Reading... Category : TDS | Comments : 0 | Hits : 1342
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Posted Date : 11-Mar-2015 , 08:20:35 am | Posted By CASANSAAR
The top 10 borrowers account for Rs 28,152 crore of non performing assets (NPAs) of the state-owned banks,Parliament was informed today. As many as 433 borrowers have taken loans of over Rs 1,000 crore and above amounting to Rs 16.31 lakh crore, Minister of State for Finance Jayant Sin...
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Posted Date : 11-Mar-2015 , 08:07:35 am | Posted By CASANSAAR
Comptroller and Auditor General Shashi Kant Sharma on Tuesday emphasized on the need for mandatory social audit of social sector schemes as they lacked transparency and accountability. Speaking at a conference on social audit here,the CAG said expenditure of central and state governments th...
Continue Reading... Category : Auditing | Comments : 1 | Hits : 548
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Posted Date : 11-Mar-2015 , 08:03:08 am | Posted By CASANSAAR
Income Tax Department has slapped a Rs 10,247 crore (USD 1.6 billion) tax demand on Cairn Energy Plc, which termed the action as “very disappointing” and said it would contest the order. The tax demand relates to an alleged Rs 24,500 crore worth capital gains it made in 2006 while t...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 412
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Posted Date : 10-Mar-2015 , 09:16:36 pm | Posted By CASANSAAR
Income tax refunds to the tune of over Rs 1.19 lakh crore is pending for the last three fiscals, starting 2012-13, Parliament was informed on Tuesday. "Income-tax refunds amounting to Rs 1,19,964.13 crore relating to last three assessment years are pending as on March 5, 2015,&quo...
Continue Reading... Category : Income Tax Refund | Comments : 0 | Hits : 751
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Posted Date : 10-Mar-2015 , 08:42:09 pm | Posted By CASANSAAR
The names of top ten companies in descending order, in terms of their assets as on 31.03.2014, from among the 4,15,886 companies that filed their Balance Sheets for the year 2013-14 till 30.11.2014 is given in the Table. The total reported value of the assets of all the 4,15,886 companies was R...
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Posted Date : 10-Mar-2015 , 08:16:41 am | Posted By CASANSAAR
Over 480 urban cooperative banks across the country have come under the scanner of the Reserve Bank of India (RBI) for alleged violation of anti-money laundering laws.The central bank has been taking strict action like imposition of penalty and denial of branch expansion against the erring...
Continue Reading... Category : Money laundering | Comments : 0 | Hits : 727
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Posted Date : 10-Mar-2015 , 08:11:34 am | Posted By CASANSAAR
Did busy office hours leave you with no time to file your tax returns(ITR) by the July 2014 deadline? Did the heavy July rains stopped you from meeting your chartered accountant? Festivals and weekends travels disrupted your plans to file it on the last weekend too? You still have a breath...
Continue Reading... Category : ITR | Comments : 0 | Hits : 786
- Income Tax Dept serves notices to salaried individuals for documentary proof to claim exemptions
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- Police Atrocities towards CA in Faridabad - Its Time to be Unite
- Bank Branch Statutory Audit Updates 2019
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- 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
Professional News For CA,CS,CMA.Fresh Accounting News Articles On Income Tax,Service Tax,Sales Tax, Vat,Company Law,RBI,CAG,Custom,Excise On CASANSAAR
