-
Posted Date : 31-Mar-2021 , 08:27:49 am | Posted By CASANSAAR
Banks are likely to decline auto payments from April 1 as all recurring transactions using cards and prepaid payment instruments will now require an additional factor of authentication, as per an RBI circular first issued in December 2020. Transactions above ₹ 5,000 will require an ad...
Continue Reading... Category : Banking | Comments : 0 | Hits : 1376
-
Posted Date : 27-Mar-2021 , 08:21:55 am | Posted By CASANSAAR
The officers of CGST Delhi North Commissionerate upon data analysis and gathering of intelligence zeroed in on Shri Krishan Kumar who was involved in creating and operating fake firms using identification documents of his friends/employees. As per investigation conducted so far, a total of 5 fake...
Continue Reading... Category : GST | Comments : 0 | Hits : 521
-
Posted Date : 26-Mar-2021 , 02:52:25 pm | Posted By CASANSAAR
MCA had issued Companies (Audit and Auditors) Amendment Rules, 2021. From Financial year commencing on or after the 1st day of April, 2021, every company which uses accounting software for maintaining its books of ...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 2318
-
Posted Date : 25-Mar-2021 , 08:50:04 am | Posted By CASANSAAR
The Comptroller and Auditor General (CAG) of India has found that the goods and services tax (GST) system is prone to input tax credit (ITC) frauds due to complexity in the compliance system. “The originally envisaged system-validated ITC through ‘invoice matching’ had not been ...
Continue Reading... Category : GST | Comments : 0 | Hits : 23482
-
Posted Date : 24-Mar-2021 , 10:05:28 am | Posted By CASANSAAR
Finance Minister Nirmala Sitharaman on Tuesday raised the limit for tax exemption on interest earned on provident fund contribution by employees to Rs 5 lakh per annum in specified cases as against Rs 2.5 lakh proposed in the Budget. In her Budget for 2021-22, Sitharaman had capped the tax-free inte...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 1797
-
Posted Date : 24-Mar-2021 , 09:17:07 am | Posted By CASANSAAR
Markets regulator Sebi will follow a new format for its annual report as part of efforts to have a "true and full account" of its activities, policies and programmes during a financial year, according to a notification. Under the new rules notified by the finance ministry, source of income...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 658
-
Posted Date : 24-Mar-2021 , 09:07:10 am | Posted By CASANSAAR
The Supreme Court on Tuesday said the interim relief granted earlier to not declare the accounts of respective borrowers as non-performing assets stands vacated, ending the blanket ban on classification of non-performing assets (NPAs). “However, there shall be no order as to costs,” t...
Continue Reading... Category : NPA | Comments : 0 | Hits : 1433
-
Posted Date : 23-Mar-2021 , 07:55:48 am | Posted By CASANSAAR
The government is considering the blocking of internet protocol (IP) addresses of companies/exchanges on which trading in cryptocurrencies is happening, said a source in the know. Two months ago, the government had said it intended to bring a Bill to ban private cryptocurrencies and introduce I...
Continue Reading... Category : Bitcoins | Comments : 0 | Hits : 1320
-
Posted Date : 23-Mar-2021 , 07:43:58 am | Posted By CASANSAAR
The Minister of State (MoS) for Finance & Corporate Affairs Anurag Singh Thakur said that 1,38,051 new companies registered in the current Financial Year from April 2020 to February 2021 while 10,113 of Companies have been struck off by invoking the provisions of section 248 of th...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 396
-
Posted Date : 22-Mar-2021 , 07:14:36 pm | Posted By CASANSAAR
Bank Branch Audit 2021 Updates :- RBI has sent the Branch Audit Panel to Banks. (www.casansaar.com) As per information from Members, Following Banks has started sending emails which can be either to Existing or to New Auditors (as informed):- - Bank of Baroda, - Punjab & Sin...
Continue Reading... Category : Bank Branch Audit | Comments : 26 | Hits : 92119
-
Posted Date : 22-Mar-2021 , 09:23:04 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) has declared the results for CA Final and Foundation papers for the January session on the official website icai.org.in. All the candidates who have appeared for the examinations will have to login to the ICAI official portal with their username...
Continue Reading... Category : ICAI | Comments : 1 | Hits : 685
-
Posted Date : 22-Mar-2021 , 09:19:40 am | Posted By CASANSAAR
Insolvency regulator IBBI has come out with a “Handbook on Ethics” for Insolvency Professionals to stimulate the highest standards of ethics and professionalism. This handbook has been prepared by the Insolvency and Bankruptcy Board of India in association with the British High Commis...
Continue Reading... Category : Insolvent Professional | Comments : 0 | Hits : 691
-
Posted Date : 22-Mar-2021 , 08:52:49 am | Posted By CASANSAAR
Unconfirmed reports have appeared in certain sections of the media that some GST officers are using unauthorised communication means such as phone calls, WhatsApp and messages asking taxpayers to discharge 'maximum tax liability' in 'cash' in order to ensure that targets f...
Continue Reading... Category : GST | Comments : 0 | Hits : 658
-
Posted Date : 19-Mar-2021 , 08:37:27 am | Posted By CASANSAAR
The government needs to make structural changes in the goods and services tax (GST) regime and step up compliance to boost revenues, given the need to make up for the gap in states’ GST revenue receipts, a parliamentary panel has advised the finance ministry. Due to the pandemic, several st...
Continue Reading... Category : GST | Comments : 0 | Hits : 927
-
Posted Date : 19-Mar-2021 , 08:24:47 am | Posted By CASANSAAR
The Delhi High Court on Thursday asked the Ministry of Finance and the Reserve Bank of India (RBI) to consider bringing in parity in certain sections of the Insolvency and Bankruptcy Code (IBC) and the Sarfaesi Act, which has created hurdles in the resolution plans of bankrupt telcos Reliance Commun...
Continue Reading... Category : RBI | Comments : 0 | Hits : 409
-
Posted Date : 18-Mar-2021 , 10:36:14 am | Posted By CASANSAAR
Download List of Important Circulars for the Purpose of Bank Audit. Shared by CA. Ajay Kumar Jain Ji, Download Telegram on Mobile and Search casaansaar Here is the link, Open in Mobile. https://t.me/casaansaar/92...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 1935
-
Posted Date : 18-Mar-2021 , 08:56:53 am | Posted By CASANSAAR
The Madras High Court has allowed assessees to claim input tax credit for tax deducted at source (TDS) pending from the value-added tax (VAT) regime under the current goods and services tax (GST) system. The order, passed by Justice Anita Sumant, stated that any deducti...
Continue Reading... Category : GST | Comments : 0 | Hits : 415
-
Posted Date : 18-Mar-2021 , 08:51:52 am | Posted By CASANSAAR
Section 115AD of the Income-tax Act, 1961 (the ‘Act’) inter alia contains provisions for taxation of income of FPIs. Proviso to section 115AD(1)(i) provides that the tax shall be chargeable at the concessional rate of 5% on interest income referred to in section ...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 406
-
Posted Date : 17-Mar-2021 , 08:30:29 am | Posted By CASANSAAR
There is no proposal of faceless scrutiny assessment of GST returns as the Goods and Services Tax rule already provide for electronic filing and assessment, Minister of State for Finance Anurag Singh Thakur said on Tuesday. Income tax assessments are being done in a faceless manner except in cert...
Continue Reading... Category : GST | Comments : 0 | Hits : 503
-
Posted Date : 16-Mar-2021 , 08:28:34 am | Posted By CASANSAAR
UGC had received requests from the Institute of Chartered Accountants of India, the Institute of Company Secretaries of India and the Institute of Cost Accountants of India to consider the qualification being awarded by them, i.e., Chartered Accountant (CA), Company Secretary (CS) and Cost and Works...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 440
-
Posted Date : 14-Mar-2021 , 09:31:53 am | Posted By CASANSAAR
Banks, stock exchanges and companies will have to share data on large investor transactions with the Income Tax Dept as frequently as sought by a designated official, according to rule change notified by the Income Tax Department on Friday. Till now, these entities were only mandated to give a st...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 1068
-
Posted Date : 14-Mar-2021 , 09:25:58 am | Posted By CASANSAAR
The Finance Ministry has suggested several changes in the Securities and Exchange Board of India’s (Sebi's) annual report format seeking “true and full account of its activities”, policies and programmes of the whole year. The new format demands greater disclosure and in-depth ...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 306
-
Posted Date : 13-Mar-2021 , 09:43:42 am | Posted By CASANSAAR
The Reserve Bank of India on Friday asked the banks and other lenders to report the accounts restructured due to coronavirus separately to credit bureaus. Lenders should make necessary modification to their system and report it to credit bureaus within two months, the banking regulator said. All ...
Continue Reading... Category : RBI | Comments : 0 | Hits : 532
-
Posted Date : 13-Mar-2021 , 09:38:34 am | Posted By CASANSAAR
Four years after the Central Goods and Services Tax (CGST) Act was enacted, the Punjab and Haryana High Court today expressed prime facie view that Parliament was empowered under the Constitution to come up with special laws on the issue. The assertion came as the Bench of Justice Rajan Gupta and...
Continue Reading... Category : GST | Comments : 0 | Hits : 310
-
Posted Date : 13-Mar-2021 , 09:21:24 am | Posted By CASANSAAR
The Central Goods and Services Tax (CGST) officials have arrested a Borivli trader for GST fraud of Rs.10.59 crore. The accused illegally availed Input Tax Credit (ITC) and also passed on the same to other offenders, causing revenue loss to the government. Input tax credit is an option that allow...
Continue Reading... Category : GST | Comments : 0 | Hits : 409
-
Posted Date : 12-Mar-2021 , 10:37:56 am | Posted By CASANSAAR
GST officers have arrested one person for creating fictitious firms on forged documents and passing on fake ITC worth Rs 43 crore, Finance Ministry said on Thursday. The Directorate General of GST Intelligence (DGGI) Gurugram Zonal Unit (GZU), Haryana, has arrested Ravinder Kumar (aka Ravinder Ga...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 544
-
Posted Date : 10-Mar-2021 , 09:50:22 am | Posted By CASANSAAR
RBI is finalising the Panel for Bank Branch Audit and will send it to Banks very soon. Join CA Sansaar official Telegram Channel for all Bank Branch Audit and other updates. Download Telegram in Mobile & Search casaansaar (spell check plz) https://t.me/casaansaar If you have any...
Continue Reading... Category : Bank Branch Audit | Comments : 4 | Hits : 15659
-
Posted Date : 10-Mar-2021 , 09:00:57 am | Posted By CASANSAAR
In an ongoing investigation the Directorate General of GST Intelligence, Gurugram Zonal Unit, were able to arrest two gang members of a fake invoicing syndicate, namely Shri Vikas and Shri Manish, who were involved in GST fraud by way of issuance of fake GST invoices in excess of Rs 4,800 crore whic...
Continue Reading... Category : GST | Comments : 1 | Hits : 24267
-
Posted Date : 10-Mar-2021 , 08:59:23 am | Posted By CASANSAAR
Based on non-filing of Financial Statements (FS) consecutively for two years or more, “Shell Companies” were identified and after following due process of law as provided under Section 248 of the Act, 2013 read with the Companies (Removal of Names of Companies from the Reg...
Continue Reading... Category : MCA | Comments : 0 | Hits : 479
-
Posted Date : 09-Mar-2021 , 09:19:03 am | Posted By CASANSAAR
The Ministry of Corporate Affairs (MCA) administers the Companies Act, 2013 (the Act), Limited Liability Partnership Act, 2008 and Insolvency and Bankruptcy Code, 2016. There is no provision for weeding out the Companies in the Act. This was stated by Shri Anurag Singh Thakur, Union Ministe...
Continue Reading... Category : MCA | Comments : 0 | Hits : 430
- Income Tax Dept serves notices to salaried individuals for documentary proof to claim exemptions
- Bank Branch Audit 2021 - Update on allotment of Branches
- Bank Branch Audit 2020 Updates
- Bank Branch Audit 2021 Updates
- Bank Branch Audit 2020 - Update on Allotment of Branches
- Police Atrocities towards CA in Faridabad - Its Time to be Unite
- Bank Branch Statutory Audit Updates 2019
- Bank Branch Statutory Audit Updates
- 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
