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  • File affidavits of assets, income during divorce proceedings, directs HC
    Posted Date : 24-Jan-2015 , 08:31:31 am | Posted By CASANSAAR

    Hiding your assets and income from the court during divorce or maintenance proceedings will now be difficult with the Delhi High Court issuing directions that both the husband and the wife have to file detailed affidavits of income, assets and expenditure at the time of filing for divorce or mainten...

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  • RBI eases norms for revamping ECBs
    Posted Date : 24-Jan-2015 , 08:14:56 am | Posted By CASANSAAR

    The Reserve Bank of India (RBI) has simplified the existing procedure for rescheduling/restructuring of external commercial borrowings (ECBs). It also delegated more powers to banks to deal with cases related to change in draw-down and repayment schedules.   Under the simplified procedure, th...

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  • Non-payment of TAX may land you in Jail
    Posted Date : 24-Jan-2015 , 08:07:16 am | Posted By CASANSAAR

    The government may prosecute those accused of evading taxes under the Prevention of Money Laundering Act (PMLA) as part of a wide ranging crackdown on black money. Further, non-declaration of foreign bank accounts and assets may also be made a criminal offence, according to people who have been brie...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 657

  • Govt may allow tax exemption for 3-year bank FDs
    Posted Date : 23-Jan-2015 , 08:16:33 am | Posted By CASANSAAR

    The government may consider the demand of banks to make fixed deposits for three years and more tax-free instead of the five-year lock-in period at present, providing these lenders a level-playing field with mutual funds and tax-free bonds that have been weaning away a large chunk of investors.Indic...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 905

  • Blind youth clears CA, wants to teach & hopes to inspire others
    Posted Date : 22-Jan-2015 , 10:17:37 pm | Posted By CASANSAAR

    While clearing the Chartered Accountancy (CA) exam is never a cakewalk for aspirants, for Thane's Rushabh Kapasi, the task was even more daunting. Kapasi (24) suffers from almost 100% vision loss due to a birth defect. He was born with corneal opacity in both eyes. But determined as he was, Kapasi m...

    Continue Reading... Category : Students Zone | Comments : 7 | Hits : 1572

  • SEBI allows re-issuance of corporate debt
    Posted Date : 22-Jan-2015 , 10:09:16 pm | Posted By CASANSAAR

    Capital market regulator said on Thursday it will allow companies to re-issue existing corporate bonds, in a move that is expected to avoid the fragmentation of liquidity in debt markets with multiple issuances. Securities and Exchange Board of India ( SEBI) had been widely expected to allow re...

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  • Banks to pay fine if they exceed required remit period: RBI
    Posted Date : 22-Jan-2015 , 09:09:41 am | Posted By CASANSAAR

    Banks will be liable to pay penalty for failing to remit government fund within the required time frame, the Reserve Bank said today. As per the instructions of the Controller General of Accounts, the Ministry of Finance, banks are required to adhere to norms for payment of government revenue t...

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  • High Court dismisses bail plea of Chartered Accontants, two others
    Posted Date : 22-Jan-2015 , 08:46:39 am | Posted By CASANSAAR

    A court in Chennai on Wednesday dismissed the bail plea of four people, including joint commissioner of income tax Salong Yaden.  Last week, the CBI arrested Yaden along with two chartered accountants -the father-son duo of Sanjay Bhandari and Shreyans Bhandari -- and the managing director of ...

    Continue Reading... Category : General | Comments : 0 | Hits : 974

  • I-T department moves Supreme Court on Vodafone income for FY 08
    Posted Date : 22-Jan-2015 , 08:40:43 am | Posted By CASANSAAR

    The income tax department has moved the Supreme Court seeking directions to a tax tribunal to consider certain facts relating to the taxable income of Vodafone India Services for the 2007-08 fiscal. This relates to the sale of its calls centre business and an alleged exercise of call options in a co...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 424

  • Govt will Present Union Budget on 28th February and Rail Budget on 26th February
    Posted Date : 21-Jan-2015 , 03:25:45 pm | Posted By CASANSAAR

    The Budget session of Parliament will begin on February 23 and the Narendra Modi government will present its first full-year Budget on Saturday, February 28.   The Budget session is held in two parts - Parliament will close for a recess on March 20 and will reconvene on April 20. The session ...

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  • Government Amends Rules Under Companies Law
    Posted Date : 21-Jan-2015 , 08:48:58 am | Posted By CASANSAAR

    Amending rules under the companies law, government has exempted unlisted firms having overseas subsidiaries from preparing consolidated financial statement for the current financial year.   Besides, the Corporate Affairs Ministry has amended rules pertaining to Corporate Social Responsibility...

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  • Tax evasion could soon become a prosecutable offence inviting jail term for offenders
    Posted Date : 21-Jan-2015 , 08:36:18 am | Posted By CASANSAAR

    Tax evasion could soon become a prosecutable offence inviting jail term for offenders as the Supreme Court appointed special investigation team (SIT) on black money has suggested this to the government and sought a decision by March 31.  "The Central Board of Direct Taxes (CBDT) is examining w...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 717

  • Jan Dhan Yojna in Guinness World Records-11.5 crore accounts opened
    Posted Date : 20-Jan-2015 , 10:47:06 pm | Posted By CASANSAAR

    As many as 11.5 crore bank accounts have been opened under the Pradhan Mantri Jan Dhan Yojana, exceeding the enhanced target of 10 crore and covering 99.74 per cent of households, Finance Minister Arun Jaitley said today.   “Most of India today is included in the banking system,” ...

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  • Bank Unions defer proposed 4-day Strike
    Posted Date : 20-Jan-2015 , 08:36:50 am | Posted By CASANSAAR

    PSU bank employees' unions have deferred the proposed four-day strike from January 21 after the management of banks (IBA) assured that wage related issues will be resolved by early February. "Four-day strike has been put on hold as Indian Banks' Association (IBA) assured that wage issue will be...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 1106

  • Bank a/c opening target may result in many dormant accounts
    Posted Date : 20-Jan-2015 , 08:28:51 am | Posted By CASANSAAR

    Right incentives are needed to encourage financial inclusion rather than just providing banks with account-opening targets which could result in large number of dormant accounts, CCI chief Ashok Chawla said today.  Chawla, who had earlier served as Finance Secretary, said there are challenges ...

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  • Toppers of CA Final Nov 14 & CPT Dec 14
    Posted Date : 20-Jan-2015 , 08:25:08 am | Posted By CASANSAAR

    Top three rank holders CA Final November, 2014. The top three rank holders on all India basis of Chartered Accountants Final Examinations held in November, 2014 are from Gurgaon, Ahmedabad, Nandurbar (Maharashtra) & Howrah (Kolkata) respectively and their de...

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  • RBI cautions against foreign Investment Tourists
    Posted Date : 19-Jan-2015 , 05:14:10 pm | Posted By CASANSAAR

    The Reserve Bank of India official today cautioned against foreign "investment tourists" in debt markets, highlighting concerns about short-term flows.   The comments from G. Padmanabhan, executive director at the RBI, came amid expectations that India will allow Euroclear settlements for gov...

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  • New President & Vice-President of ICSI for the Year 2015
    Posted Date : 19-Jan-2015 , 02:21:54 pm | Posted By CASANSAAR

    CS.Atul Mehta & CS Mamta Binani has been elected as President & Vice President of The Institute of Company Secretaries of India.(ICSI)   CASANSAAR Congrats CS.Atul Mehta & CS Mamta Binani for being elected as President & Vice-Presient of ICSI....

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  • Pass Percentage of CA Final Nov 2014 & CPT Dec.2014 Exams
    Posted Date : 19-Jan-2015 , 11:44:24 am | Posted By CASANSAAR

    The results of the Chartered Accountants Final Year Examination held in Nov. 2014 & CPT Exams held in Dec.2014 has declared recently. CA Result Analysis CA Final Both Group : 8.23 % CA Final Goup 1-- 23.41% CA Final Group2-- 10.26 %   CPT 14.74 %...

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  • Good Luck - CA Final & CPT Result 2014 today on caresults.nic.in
    Posted Date : 19-Jan-2015 , 08:43:51 am | Posted By CASANSAAR

    CASANSAAR wishes All the very best to all those whose results are awaited . The result of the Chartered Accountants Final Examination held in November, 2014 and Common Proficiency Test (CPT) held in December, 2014 are likely to be declared on Monday, the 19th January,2015 around 2.00 P.M. and the...

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  • SEBI to Consult Chartered Accountants on takeover valuations
    Posted Date : 19-Jan-2015 , 08:36:46 am | Posted By CASANSAAR

    To ensure fair treatment of minority investors during takeovers of listed companies, regulator Sebi has decided to seek help of chartered accountants and merchant bankers for an independent valuation of the price offered to small shareholders by new promoters. For the purpose, Sebi would empanel el...

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  • CBDT tightens its grip on refund payouts
    Posted Date : 19-Jan-2015 , 08:30:55 am | Posted By CASANSAAR

    Taxpayers who had made refund claims with income-tax department will now have to wait for the payouts if their tax returns were to have been selected for scrutiny.   The Central Board of Direct Taxes (CBDT) has clarified that processing of returns cannot be undertaken after notice has been is...

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  • Income Tax department launches black money complaint centre ahead of Delhi polls
    Posted Date : 18-Jan-2015 , 10:02:52 am | Posted By CASANSAAR

    The Income Tax department has set up a toll-free control room for the general public to alert it about any suspicious movement of "large sums of cash" in the national capital in the run up to the Assembly polls. The investigation wing of the department has set up a control room and complaint mo...

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  • 15,000 CCTVs for Obama, Why not for Indians: HC
    Posted Date : 17-Jan-2015 , 10:32:15 pm | Posted By CASANSAAR

    Delhi high court has chided the government for installing 15,000 CCTV cameras within weeks for US President Barack Obama's upcoming visit New Delhi, but failing to act fast when it comes to meet the needs of the citizens.   So "let's get someone from outer space," a bench of justices Badar Du...

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  • Form AOC-5 is available for filing w.e.f from 17th Jan 2015 - MCA
    Posted Date : 17-Jan-2015 , 10:32:00 pm | Posted By CASANSAAR

    Form AOC-5 is available for filing w.e.f. January 17, 2015.   Form AOC-5:   Notice of address at which books of account are maintained.   All about Form AOC-5   eForm AOC-5 is required to be filed pursuant to Section 128 of the Companies Act, 2013.   Section 128: (...

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  • Finance Ministry has invited suggestions from public for the Union Budget 2015-16
    Posted Date : 17-Jan-2015 , 10:31:32 pm | Posted By CASANSAAR

    The Finance Ministry has invited suggestions from public for the Union Budget 2015-16 to be presented next month.   In order to infuse more transparency into Budget making exercise and to have people as partners to the process of budget making, the Finance Ministry has decided to invite sugge...

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  • SEBI warns public against illicit money pooling schemes
    Posted Date : 17-Jan-2015 , 10:31:19 pm | Posted By CASANSAAR

    Making public a list of 63 companies running illegal money pooling schemes, market regulator Securities and Exchange Board of India (Sebi) has cautioned investors and general public against dealing with such entities and advised them not be lured by promises of high returns. The latest list released...

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  • New Companies Act compels firms to conduct background checks on potential board members
    Posted Date : 17-Jan-2015 , 10:31:07 pm | Posted By CASANSAAR

    The days when nomination of an independent director solely depended on his or her personal relationship with the promoter of any company could soon become a thing of the past. As the new Companies Act makes independent directors more accountable, many listed as well as unlisted firms ...

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  • Govt gags I-T on info sharing with media
    Posted Date : 17-Jan-2015 , 10:30:35 pm | Posted By CASANSAAR

    In an attempt to make revenue collection appear non-adversarial, the government has gagged the income tax (I-T) department from sharing information on tax investigations or assessment with the media. The decision, sources said, was taken with a view to ensure that the I-T establishment did not appea...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 462

  • CBDT extends return filing due date till 30th Nov.2014
    Posted Date : 17-Jan-2015 , 10:22:02 pm | Posted By CASANSAAR

    As per the provisions of the Income-tax Act, 1961 (‘the Act’), for an assessee, who is required to obtain Tax Audit Report (TAR) under section 44AB of the Act, the due date for furnishing his return of income is 30th September of the Assessment Year. The Central Board of Direct Taxe...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 13116

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