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Posted Date : 18-Sep-2014 , 10:36:00 pm | Posted By CASANSAAR
Considering the large-scale devastation in the State of Jammu and Kashmir due to the natural calamity, the Central Board of Direct Taxes (CBDT) has extended the date for payment of second instalment of advance tax for companies and first instalment of advance tax for others for FY 2014-15 (AY 2015-1...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 422
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Posted Date : 18-Sep-2014 , 12:26:48 pm | Posted By CASANSAAR
Tax Audit Deferment case with Delhi High Court. Delhi High Court asked the CBDT for revenue losses in case ITR date extended. CBDT lawyer not able to answer. He wants time to file the counter affidavit. Court also asked why the Forms for Tax Audit was not available on 1st April. ...
Continue Reading... Category : Income Tax | Comments : 1 | Hits : 3846
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Posted Date : 18-Sep-2014 , 07:49:44 am | Posted By CASANSAAR
The practice of charging value-added tax (VAT) and service tax on the entire bill amount by hotels and restaurants has come under the scanner of the Punjab and Haryana high court. On the basis of a public interest litigation (PIL) filed by Sukhmani Foundation, Sector 33, a division benc...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 1050
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Posted Date : 18-Sep-2014 , 07:48:18 am | Posted By CASANSAAR
India has retained its sixth position in terms of number of billionaires with 100 such people collectively having USD 175 billion in networth, while globally the number of uber-rich has reached a record high of 2,325 persons. According to the Wealth-X and UBS Billionaire Census 2014, releas...
Continue Reading... Category : International Business | Comments : 0 | Hits : 512
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Posted Date : 18-Sep-2014 , 07:46:46 am | Posted By CASANSAAR
India's commercial real estate market is seeing big deals being struck once again in the top cities. In one of the largest leasing deals in the country, Deloitte is close to signing up 1.4 million sq ft of office space in Hyderabad for its BPO business. This isn't the only 1 million sq ft plus leasi...
Continue Reading... Category : Auditing | Comments : 0 | Hits : 488
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Posted Date : 17-Sep-2014 , 08:06:46 am | Posted By CASANSAAR
The Reserve Bank of India has proposed segregation of chairman and managing director (CMD) posts and a separate committee for appointment of directors on the board of PSU banks. On corporate governance reforms in PSU banks, RBI Deputy Governor R Gandhi said the central bank has already reco...
Continue Reading... Category : Banking | Comments : 0 | Hits : 524
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Posted Date : 17-Sep-2014 , 08:04:36 am | Posted By CASANSAAR
Commodity markets regulator FMC on Tuesday said auditing firm KPMG has been appointed to conduct a forensic audit of the Universal Commodity Exchange after it found that its promoter allegedly siphoned off funds from the exchange. The auditing firm will submit a detailed report in 4-6 weeks. Meanwh...
Continue Reading... Category : Auditing | Comments : 0 | Hits : 394
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Posted Date : 17-Sep-2014 , 07:56:16 am | Posted By CASANSAAR
With the Securities and Exchange Board of India (Sebi) relaxing corporate governance norms, listed government companies may now be able to carry out related party transactions, including subsidy payments, without prior nod from minority shareholders. In the wake of representations and deman...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 408
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Posted Date : 16-Sep-2014 , 04:52:52 pm | Posted By CASANSAAR
The 33 Assembly and 3 Lok Sabha seats bypoll results have surely come as a big shocker for the ruling BJP at the Centre. After a resounding victory in the Lok Sabha elections in May, the Prime Minister Narendra Modi led BJP has tasted its first major defeat. The biggest shock for the BJP has come fr...
Continue Reading... Category : General | Comments : 0 | Hits : 427
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Posted Date : 16-Sep-2014 , 04:05:43 pm | Posted By CASANSAAR
Order under section 119 of the Income-tax Act, 1961. Considering the large scale devastation in the State of Jammu & Kashmir due to heavy rains and floods, the Central Board of Direct Taxes, in exercise of powers conferred under section 119 of the Income-tax Act, 1961, hereby extends th...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 913
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Posted Date : 16-Sep-2014 , 08:49:19 am | Posted By CASANSAAR
Chartered accountants (CAs) went into a tizzy on Monday with the Delhi High Court adjourning the writ petition which challenged the Central Board of Direct Taxes (CBDT) directive extending deadline for furnishing tax audit report (TAR) till Thursday. Accounting professi...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 2376
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Posted Date : 16-Sep-2014 , 08:09:40 am | Posted By CASANSAAR
The capital market regulator Securities and Exchange Board of India (SEBI) has relaxed the corporate governance norms for listed companies by making amendments in various provisions, including extending the deadline for appointment of at least one woman director to April 1, 2015 and also exempting s...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 604
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Posted Date : 16-Sep-2014 , 08:07:33 am | Posted By CASANSAAR
State Bank of India (SBI) has started closing savings accounts of several NGOs, trusts and other registered societies across the country, putting the spotlight on a banking rule that governs savings bank (SB) deposits.Several trusts and societies have confirmed to ET that they have received notices ...
Continue Reading... Category : General | Comments : 0 | Hits : 2228
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Posted Date : 15-Sep-2014 , 08:21:57 pm | Posted By CASANSAAR
The government has made changes to the norms governing expenses on Corporate Social Responsibility (CSR) activities under the new companies law.Certain class of profitable companies are required to shell out at least two per cent of their three-year annual average net profit towards CSR works. The r...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 308
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Posted Date : 15-Sep-2014 , 08:07:43 am | Posted By CASANSAAR
Cracking down on money laundering, the Reserve Bank of India (RBI) has closed down six Urban Cooperative Banks (UCBs) which were suspected of being used to route illegal money. The central bank has also asked state governments to take stern action against any other erring UCBs after reports eme...
Continue Reading... Category : RBI | Comments : 2 | Hits : 850
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Posted Date : 14-Sep-2014 , 08:33:46 pm | Posted By CASANSAAR
11th September 2014 The Examination Committee, after considering the representation received from the branch of Northern India Regional Council at Jammu and Kashmir, relating to the hardships faced by the students due to the recent floods in the state of Jammu and Kashmir, decided that students res...
Continue Reading... Category : Students Zone | Comments : 0 | Hits : 679
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Posted Date : 14-Sep-2014 , 03:12:06 pm | Posted By CASANSAAR
Social media has emerged as a major background-check tool for employers and nearly 68 per cent of them decide against hiring a person after finding negative details about the candidates, a survey has found. According to a survey by job site CareerBuilder India, as many as 59 per cent employ...
Continue Reading... Category : General | Comments : 0 | Hits : 1004
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Posted Date : 13-Sep-2014 , 12:21:46 pm | Posted By CASANSAAR
The Narendra Modi wave was witnessed in the Delhi University Student Union polls as the Bharatiya Janata Party affiliated Akhil Bharatiya Vidhyarti Parishad (ABVP) won all four seats on Saturday. Mohit Nagar won the president post, Pravesh Malik - vice president, Ameet Sidhu - secretary and...
Continue Reading... Category : Students Zone | Comments : 0 | Hits : 460
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Posted Date : 13-Sep-2014 , 08:39:09 am | Posted By CASANSAAR
Revenue authorities have managed to collect over 31 per cent of target for indirect taxes in first five months (April-August) of the current fiscal that is, 2014-15. Indirect taxes include Customs duty, excise duty and service tax. However, collection of Customs duty and excise duty are sti...
Continue Reading... Category : General | Comments : 0 | Hits : 581
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Posted Date : 13-Sep-2014 , 08:27:37 am | Posted By CASANSAAR
As per Regulation 29(c)(iv) of The Chartered Accountants Regulation 1988, students who have registered for Practical Training on or after August 1st, 2012 were required to complete Advanced IT Training before admission to the Final Examination. Having regard to infrastructure and other facilities, t...
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Posted Date : 12-Sep-2014 , 09:22:48 am | Posted By CASANSAAR
ICAI has vide its press release dated 10th September 2014 proposed amendments to The Chartered Accountants Regulations, 1988 vide Draft Chartered Accountants (Amendment) Regulations, 2014. Vide this it has proposed the Amendments in Regulations 28E, 39, 48 and 204 of the Chartered Accountants ...
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Posted Date : 12-Sep-2014 , 08:03:15 am | Posted By CASANSAAR
Respected Members,Last month, the CBDT gave us extension of TAR date to hide their unplanned & incompetent decision of mid-year TAR revamp as well as for their inability to provide its schema for almost a month, just to make us fool, when the deferment was well justified.And why..., because they...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 1204
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Posted Date : 12-Sep-2014 , 07:54:09 am | Posted By CASANSAAR
The government is eyeing a mid-2015 rollout of its most comprehensive reform of indirect taxes aimed at replacing a plethora of state and central levies with a single goods and services tax, or GST. "We are working on tying up all the loose ends...The new government has identified it as a key p...
Continue Reading... Category : GST | Comments : 0 | Hits : 883
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Posted Date : 12-Sep-2014 , 07:51:27 am | Posted By CASANSAAR
The number of new companies registered in India between April and August has more than halved from the same period last year following the passage of the Companies Act, 2013, which was aimed at overhauling a 57-year-old law to make it more relevant and contemporary. During the first five months...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 882
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Posted Date : 11-Sep-2014 , 05:24:51 pm | Posted By CASANSAAR
Some accounting professionals in the country have sought legal intervention to bring clarity into a recent directive from the Central Board of Direct Taxes (CBDT) extending deadline for furnishing the tax audit report without making any change in the deadline for filing the income-tax return. ...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 1296
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Posted Date : 11-Sep-2014 , 08:58:39 am | Posted By CASANSAAR
Institute of Chartered Accountants of India (ICAI) has Finally released much awaited Guidance Note on tax Audit u/s 44AB of the Income-Tax Act, 1961 – Edition 2014 on its website http://icai.org/ . The Guidance Note Covers recent amendments in Format of Tax Audit Report...
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Posted Date : 11-Sep-2014 , 08:36:37 am | Posted By CASANSAAR
According to a report which surfaced today, roughly 5 million passwords associated with Gmail accounts, or at least passwords that were once tied to Gmail accounts, have been leaked online. This piece of news might not hit you well at first, but listen up: a fairly large...
Continue Reading... Category : General | Comments : 0 | Hits : 654
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Posted Date : 10-Sep-2014 , 05:09:34 pm | Posted By CASANSAAR
9th September, 2014 ICAI recognizes meritorious candidates in CPT, by ranking them on the basis of the aggregate marks obtained by them in CPT up to 10th rank, on an all India basis, subject to his/her having secured a minimum of 60 percent marks. There is no practice of declaring any candidat...
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Posted Date : 10-Sep-2014 , 03:31:02 pm | Posted By CASANSAAR
KPMG India Pvt Ltd, the local unit of global auditing and advisory giant KPMG, said on Wednesday that its deputy CEO Dinesh Kanabar, who has been serving this role for over four years, will be leaving the firm at the end of next month. Kanabar has more than two and half decades of experienc...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 858
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Posted Date : 10-Sep-2014 , 08:09:00 am | Posted By CASANSAAR
Companies and individuals who have furnished guarantees for wilful defaulters can also be accused as wilful defaulters, as per the new norms issued by the Reserve Bank of India (RBI). In a letter issued on Tuesday, RBI has said that if a guarantor refuses to pay lenders desp...
Continue Reading... Category : RBI | Comments : 0 | Hits : 478
- Income Tax Dept serves notices to salaried individuals for documentary proof to claim exemptions
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- Bank Branch Statutory Audit Updates 2019
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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
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
