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Posted Date : 18-Nov-2014 , 08:12:55 am | Posted By CASANSAAR
In view of popular demand, the government will on Tuesday relaunch saving instrument Kisan Vikas Patra (KVP), wherein the invested money will get doubled in 8 years and 4 months. The KVP, which will be relaunched by Finance Minister Arun Jaitley, will be available in the denomination of Rs 1,000; 5...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 856
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Posted Date : 17-Nov-2014 , 07:52:08 am | Posted By CASANSAAR
The Finance Ministry has called a meeting of chiefs of public sector banks on November 20 to review their financial performance and Jan Dhan Yojana, among other things. Chief executives of financial institutions like Nabard and NHB are also attending the meeting. "Finance Minister Ar...
Continue Reading... Category : Banking | Comments : 0 | Hits : 337
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Posted Date : 15-Nov-2014 , 07:57:49 am | Posted By CASANSAAR
Quashing a RBI communication, Madras High Court bench here said the apex bank cannot wash off its hand of the responsibility of regulating interest rates charged by non-banking financial companies (NBFCs) and asked it to look into the matter in terms of Fair practice Code as well as c...
Continue Reading... Category : Banking | Comments : 1 | Hits : 442
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Posted Date : 14-Nov-2014 , 10:46:34 pm | Posted By CASANSAAR
14th November, 2014 IMPORTANT ANNOUNCEMENT Postponement of Group-I, Paper-4, of Intermediate (IPC) examination scheduled for 14th November 2014 to 23rd November 2014It is hereby informed that due to unavoidable circumstances the examination of Group - I, Paper - 4 - Taxation of Intermediate (IPC) ...
Continue Reading... Category : Students Zone | Comments : 0 | Hits : 354
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Posted Date : 14-Nov-2014 , 09:07:12 pm | Posted By CASANSAAR
For improvement in "Bank Audit allotment system, We a group of CAs called " SAVE CERTIFICATION RIGHT" has prepared a memorandum & file a petition at www.change.org. We appeal all CAs to sign it. CA Vivek Khurana, http://www.casansaar.com https://www.change.org/p/rajan-kumar-nic...
Continue Reading... Category : Auditing | Comments : 2 | Hits : 1469
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Posted Date : 14-Nov-2014 , 08:48:00 pm | Posted By CASANSAAR
We are Chartered Accountants located in different parts of India. We have noted with concern the various issues that have arisen over the past few years in the matter of appointment of auditors of Bank Branches. This has not only adversely affected the NPAs of various bank branches (which in turn af...
Continue Reading... Category : Auditing | Comments : 6 | Hits : 1958
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Posted Date : 14-Nov-2014 , 09:26:05 am | Posted By CASANSAAR
The Reserve Bank of India will invite applications for setting up of small and payment banks -- aimed to cater to small businesses and low income households -- by the end of this month after putting in place final norms in this regard. Governor Raghuram Rajan said this while addressing micro-financi...
Continue Reading... Category : RBI | Comments : 0 | Hits : 418
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Posted Date : 13-Nov-2014 , 08:13:48 am | Posted By CASANSAAR
The government is exploring options to set up a facility to monitor advance income tax filings by companies and high networth individuals, on the lines of dedicated monitoring of returns and tax deducted at source (TDS) categories. The move is in line with the government’s plan ...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 637
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Posted Date : 13-Nov-2014 , 07:55:38 am | Posted By CASANSAAR
The Securities and Exchange Board of India (SEBI), on Wednesday said that it would enable a single consolidated view of all investments of every investor in mutual funds and securities held in demat form with depositories from March 2015. Consolidation of account statement would b...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 469
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Posted Date : 13-Nov-2014 , 07:52:44 am | Posted By CASANSAAR
Two-and-a-half months before the deadline, banks, led by the government-owned ones, are within a striking distance of reaching the target of opening 75 million accounts under the Pradhan Mantri Jan Dhan Yojana of the Narendra Modigovernment. The data show close to 72.5 million accoun...
Continue Reading... Category : Banking | Comments : 0 | Hits : 552
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Posted Date : 12-Nov-2014 , 08:40:54 am | Posted By CASANSAAR
The employees of Public sector banks will be on a nation wide strike today to press for their demand of wage revision. Nine banking unions have decided to join it.Normal banking operations like cheque clearance and withdrawal in public sector banks are likely to be affected due to the strike. B...
Continue Reading... Category : Banking | Comments : 0 | Hits : 465
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Posted Date : 12-Nov-2014 , 07:55:33 am | Posted By CASANSAAR
The Income Tax Appellate Tribunal (ITAT) has clarified that money paid under the consent decree mechanism to settle disputes is permissible as business expenditure and cannot be equated to penalty levied for breaching law. The clarification will set precedence as many companies are currently negotia...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 545
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Posted Date : 12-Nov-2014 , 07:53:01 am | Posted By CASANSAAR
Directors and senior managers of a listed company may not be allowed to trade in derivatives of their company's stock while law firms and auditors, often privy to unpublished price-sensitive information, are likely to have a new code of conduct. These proposals, aimed at curbing insider trading...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 525
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Posted Date : 12-Nov-2014 , 07:43:15 am | Posted By CASANSAAR
The central government will have to iron out several issues with the state governments on Goods and Services Taxbefore it tables the GST Bill in the upcoming winter session of the parliament. Differences between the state and the Centre continue on the threshold turnover...
Continue Reading... Category : GST | Comments : 0 | Hits : 479
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Posted Date : 11-Nov-2014 , 07:24:28 am | Posted By CASANSAAR
The apex body of Chartered Accountants, ICAI said it is making efforts to expedite the next course of action with respect to a complaint filed against one of its Member by Packwell Manufacturers. An official of Packwell Manufacturers (Delhi) Pvt Ltd had filed a complaint against a Chartered...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 918
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Posted Date : 11-Nov-2014 , 07:05:47 am | Posted By CASANSAAR
Five years after Germany gave New Delhi a list of Indians with secret bank accounts in the Alpine tax haven Liechtenstein, the first tribunal ruling has gone in favour of the government. The case pertains to three Kolkata-based individuals - Mohan Manoj Dhupelia, Ambrish Manoj Dhupelia and Ms...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 457
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Posted Date : 11-Nov-2014 , 07:01:48 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has tightened rules for so-called "shadow banks", raising minimum capital requirements and restricting deposits with a set of changes that it hopes will protect consumers and the market without stifling growth. Non-banking financial companies (NBFCs...
Continue Reading... Category : Banking | Comments : 0 | Hits : 429
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Posted Date : 10-Nov-2014 , 09:03:53 pm | Posted By CASANSAAR
10th November, 2014 IMPORTANT ANNOUNCEMENT POSTPONEMENT OF EXAMINATION OF GROUP-I, PAPER-4, OF INTERMEDIATE (IPC) EXAMINATION SCHEDULED FOR 14TH NOVEMBER - 2014.It is hereby informed that due to unavoidable circumstances the examination of Group – I, Paper - 4 - Taxation of Interme...
Continue Reading... Category : Students Zone | Comments : 0 | Hits : 949
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Posted Date : 10-Nov-2014 , 08:23:17 pm | Posted By CASANSAAR
Normal banking operations such as cheque clearance in public sector banks across the country are likely to be hit on Wednesday as employees have decided to go on one-day nation-wide strike to press for wage revision. "In negotiations held today, Indian Banks Association (IBA) stuc...
Continue Reading... Category : Banking | Comments : 0 | Hits : 513
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Posted Date : 10-Nov-2014 , 04:13:06 pm | Posted By CASANSAAR
8th November 2014 Observations of the candidates on the question papers of CA examinations-Nov. 2014 It has been decided to introduce a mechanism to obtain the feedback of the candidates who appear in the CA examinations, on the question papers in CA examinations, with effect from May 2014 exa...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 705
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Posted Date : 10-Nov-2014 , 08:21:06 am | Posted By CASANSAAR
Now receive Regular Professional update via WhatsApp /email / BBM from CASANSAAR.COM. This free subscription will entitle you to faster complete updates. Receive Professional, Tax and Career related updates in your mobile / email inbox and stay ahead in your professional life.Some fea...
Continue Reading... Category : General | Comments : 0 | Hits : 6527
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Posted Date : 10-Nov-2014 , 08:15:47 am | Posted By CASANSAAR
CBDT on 06-11-2014 released Revised Form 3CA-3CD & Form 3CB-3CD filing utility along with updated Schema. Revised Utility is is now available for e-Filing. Form 3CA-3CD Audit report under section 44AB of the Income-tax Act, 1961 in a case where the accou...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 1339
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Posted Date : 10-Nov-2014 , 08:02:19 am | Posted By CASANSAAR
Chartered accountants’ apex body ICAI has started proceedings against a former Reebok India official for his alleged involvement in the Rs 870 crore scam at the sportswear maker that came to light in 2012. The Rs 870 crore scam was allegedly committed by the company’s former man...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 555
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Posted Date : 10-Nov-2014 , 08:01:11 am | Posted By CASANSAAR
Sunday's ministry expansion saw several professionals joining the Modi ministry. They include an engineer, a doctor, CA and a Harvard Business School alumnus. The PM has preferred to have a fair number of professionals in his ministry as he gets into the task of repairing the economy and the ...
Continue Reading... Category : General | Comments : 1 | Hits : 1398
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Posted Date : 10-Nov-2014 , 07:52:24 am | Posted By CASANSAAR
The central government is in the final stages of talks with the states on the pan-India Goods and Services Tax (GST) before the relevant bill for implementation is introduced in the upcoming session of parliament, Finance Minister Arun Jaitley said Sunday. "I'm in the last st...
Continue Reading... Category : GST | Comments : 0 | Hits : 509
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Posted Date : 10-Nov-2014 , 07:41:19 am | Posted By CASANSAAR
The President of India, as advised by the Prime Minister, has directed that the allocation of portfolios amongst the members of the Council of Ministers shall be as below:- Prime Minister Shri Narendra Modi: Personnel, Public Grievances and Pensions; Department of Atomic Energy Department of Sp...
Continue Reading... Category : General | Comments : 0 | Hits : 459
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Posted Date : 09-Nov-2014 , 08:05:57 am | Posted By CASANSAAR
You won't have to pay extra tax for food and beverages you consume from either an air-conditioned restaurant or from an air-conditioned restaurant run alongside a bar. Bringing relief to customers, who otherwise would've had to pay 12.36% service tax on 40% of the total bill amount, a division benc...
Continue Reading... Category : Service Tax | Comments : 0 | Hits : 2769
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Posted Date : 08-Nov-2014 , 10:33:10 pm | Posted By CASANSAAR
The new depreciation regime is impacting corporate bottomlines in interesting ways this fiscal. While the new norms provide more flexibility to companies and are a step toward aligning with international practices, there is a need for more clarity on the transitional provisions, say audit experts. ...
Continue Reading... Category : Income Tax | Comments : 1 | Hits : 681
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Posted Date : 08-Nov-2014 , 07:50:05 pm | Posted By CASANSAAR
In a major clampdown for non- compliance of Listing Agreement, top exchanges BSE and NSE today announced suspension of trading in shares ofKingfisher Airlines and another group firm, UB Engineering, from next month. Besides, the entire promoter shareholding of these companies hav...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 183
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Blackmoney: SIT finds 122 names repeated in list; Less than half of HSBC bank accounts with no moneyPosted Date : 08-Nov-2014 , 07:19:15 pm | Posted By CASANSAAR
The Special Investigation Team, SIT on black money has found that less than half of the HSBC bank list of over 600 accounts did not have any money while more than hundred names were a repeat, hampering the possibility of any action against them. Quoting Official sources, PTI reports that the Income ...
Continue Reading... Category : Students Zone | Comments : 0 | Hits : 319
- 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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