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Posted Date : 31-Mar-2014 , 08:30:44 am | Posted By CASANSAAR
If you are filing online your Income Tax return, the paper copy of the 'ITRV' should only be sent through "speed post" to the Central Processing Centre (CPC) of the department inBengaluru. ITRV or 'Income Tax Return - Verification' form is issued as an acknowledgement to returns filed onl...
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Posted Date : 31-Mar-2014 , 08:26:00 am | Posted By CASANSAAR
Jamsetji Tata Trust has won a major reprieve from the Income Tax Appellate Tribunal (ITAT), which has held that exempt income — such as dividend and long-term capital gains — cannot be brought to tax in the hands of the trust even if the investments made by it do not meet ...
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Posted Date : 31-Mar-2014 , 08:22:27 am | Posted By CASANSAAR
The Corporate Affairs Ministry has temporarily suspended services of e-filings under MCA-21 from April 1 to 13. This move is intended to facilitate a smooth transition to the new forms under the new company law, sources close to the developments said. In this April 1-13 period, all...
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Posted Date : 30-Mar-2014 , 09:13:01 am | Posted By CASANSAAR
The government has ordered a special audit into the accounts of Nokia India, widening the ambit of its dispute with the Finnish handset maker and further queering the pitch for the completion of the company's $7.2 billion global deal to sell its devices business to Microsoft.A Nokia spokesperson con...
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Posted Date : 29-Mar-2014 , 03:50:12 pm | Posted By CASANSAAR
The administrator of MF Global Holdings Ltd's bankruptcy plan on Friday sued the Auditor PricewaterhouseCoopers for at least $1 billion over its advice on a $6.3 billion European sovereign debt investment that helped fuel the brokerage's rapid demise. According to a complaint file...
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Posted Date : 29-Mar-2014 , 10:19:11 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India, the regulator of corporate accounting and audits, is hoping the Union Ministry of Corporate Affairs will acknowledge its current role and accept its recommendations regarding avoidance of certain domain-overlapping functions with those of the proposed...
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Posted Date : 29-Mar-2014 , 10:16:12 am | Posted By CASANSAAR
Market regulator Sebi today extended the time-frame for implementing new Foreign Portfolio Investor (FPI) regulations by three months to June 30. The new Foreign Portfolio Investor (FPI) regulations was put in place to make an easier registration process and operating framework for overse...
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Posted Date : 28-Mar-2014 , 10:04:05 pm | Posted By CASANSAAR
Most companies now need to have at least one woman and two independent directors, while the listed entities will be required to have a director to represent the interests of small shareholders if they demand. The new requirements are part of the rules related to the appointment and qualificatio...
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Posted Date : 28-Mar-2014 , 07:22:16 am | Posted By CASANSAAR
The government’s attempt to address the tax-related grievances of MNCs is beginning to show results. The revenue department is set to sign some unilateral advance pricing agreements (APAs) by the end of this month. These agreements are aimed at giving conditional exemptions to MNCs from tax au...
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Posted Date : 27-Mar-2014 , 07:24:33 pm | Posted By CASANSAAR
ounters shall remain open for extended hours till 8.00 pm. Further, on Sunday, March 30, 2014, agency banks will keep select branches open at key locations as a regular working day for transacting Government Business. Similarly, on Monday, March 31, 2014, at places where public holiday has been...
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Posted Date : 27-Mar-2014 , 07:23:55 pm | Posted By CASANSAAR
The Competition Commission of India(CCI)has imposed a fine of Rs. 1 Crore upon Google for failure to comply with the directions given by the Director General(DG)seeking information and documents. The order was passed on a reference made by the DG to CCI alleging inter alia non-cooperation by Go...
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Posted Date : 27-Mar-2014 , 02:56:10 pm | Posted By CASANSAAR
The Election Commission will take a view on the issuance of new bank licences by the Reserve Bank of India (RBI) on Monday, March 31. The model code of conduct has come into force with the announcement of general election earlier this month. "I think most likely we w...
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Posted Date : 27-Mar-2014 , 02:53:35 pm | Posted By CASANSAAR
Any salaried person would have heard of a term called HRA (House Rent Allowance). It not only gives benefit inthe form of allowance but also gives an opportunity for tax exemption up to a certain limit. Almost every salariedemployee takes this benefit. IT departmen...
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Posted Date : 27-Mar-2014 , 07:50:42 am | Posted By CASANSAAR
The Ministry of Corporate Affairs has notified 183 sections of the new Companies Act, 2013, which comes into effect from April 1, 2014. With this, 283 of 470 sections of the Act have got notified in a phased manner. However, the related rules that fall under the 183 sections are expected to get noti...
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Posted Date : 27-Mar-2014 , 07:49:45 am | Posted By CASANSAAR
In a last-ditch attempt to shore up faltering excise duty collection, the Central Bureau of Excise and Customs (CBEC) has empowered chief commissioners to act tough on manufacturers and dealers evading duty payment and abusing duty credit facilities. The new provisions, notified on March 21...
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Posted Date : 27-Mar-2014 , 07:46:30 am | Posted By CASANSAAR
Offline payment facility (Challan, NEFT and Pay Later) would be stopped from 26th March 2014 till 31st March (both days inclusive). You are requested to make payment only through online mode(Credit/Debit Card and Net Banking)....
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Posted Date : 27-Mar-2014 , 07:45:09 am | Posted By CASANSAAR
The Tax Administration Reform Commission (TARC) set up by the Finance Ministry to suggest measures to prevent economic offences among other things, will soon look into amalgamation of Direct Tax and Indirect Tax Departments. “In business practices, companies pay corporate income tax, ...
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Posted Date : 26-Mar-2014 , 08:34:54 am | Posted By CASANSAAR
Market regulator Sebi today asked all listed companies to follow a standard format for their Auditor Certificates, which are required to be filed to seek approval for merger, demerger and restructuring schemes. The Securities and Exchange Board of India (Sebi) said it has been observ...
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Posted Date : 26-Mar-2014 , 08:31:11 am | Posted By CASANSAAR
The accountancy body, CA institute has fired another salvo – the third in the last decade – on the IFRS convergence front. n a well thought out move, the institute has recommended a new roadmap for convergence of Indian accounting standards with the International Financial Repor...
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Posted Date : 26-Mar-2014 , 08:26:57 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has said registered foreign portfolio investors (RFPI) will be eligible to open special non-resident rupee (SNRR) accounts and foreign currency accounts with banks. For genuine investments in securities, they can also transfer sums from a foreign currency account to a...
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Posted Date : 25-Mar-2014 , 10:12:25 pm | Posted By CASANSAAR
The Securities and Exchange Board of India - SEBI has asked mutual fund houses to make monthly disclosures about assets managed by them. This will be applicable as part of the long term policy for the mutual fund industry, that was unveiled by SEBI on Monday. Through this policy, SEBI ...
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Posted Date : 25-Mar-2014 , 08:19:04 am | Posted By CASANSAAR
Revising its earlier road map, ICAI has recommended that companies, having net worth of over Rs 500 crore, implement new accounting standards that converge with global norms from April 1, 2016. The Institute of Chartered Accountants of India (ICAI), the country's apex accounting wat...
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Posted Date : 25-Mar-2014 , 08:17:50 am | Posted By CASANSAAR
E-filing of Income Tax returns will be further simplified by the Central Board of Direct Taxes (CBDT) which said it is encouraged by the increasing number of taxpayers taking the online route. The e-filing of returns this financial year saw a jump of 40 per cent with 25,647 crore online returns...
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Posted Date : 24-Mar-2014 , 07:13:15 pm | Posted By CASANSAAR
Retirement fund body EPFO will start providing permanent account numbers on the pattern of core banking services to its over five crore subscribers from October this year. Permanent or universal account number (UAN) will facilitate subscribers to avoid filing PF account ...
Continue Reading... Category : General | Comments : 0 | Hits : 453
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Posted Date : 24-Mar-2014 , 07:10:10 pm | Posted By CASANSAAR
The Supreme Court today directed the Centre not to shareAadhaar card details with any agency without the consent of the card holder. It also asked the government to immediately withdraw all the orders which had made Aadhaar card compulsory for registration of marriage or property or ...
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Posted Date : 24-Mar-2014 , 08:34:58 am | Posted By CASANSAAR
Kind Attention Members COUNCIL / REGIONAL COUNCILS ELECTIONS-2014 As the members are aware, the term of the existing Council and the Regional Councils will expire on 18th January 2015 and the elections for the Council and the Regional Council...
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Posted Date : 24-Mar-2014 , 08:28:47 am | Posted By CASANSAAR
Forensic audit is emerging as a big-ticket business for accounting firms.Two developments are responsible. One, some high-profile frauds in the limelight over recent months. Two, changes in the approach of regulators, allied to provisions in the new Companies Act, which put more accountability ...
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Posted Date : 24-Mar-2014 , 08:22:01 am | Posted By CASANSAAR
Customers should be given a free copy of their credit profile as it would help in promoting financial discipline among loan seekers, the Reserve Bank of India (RBI) has said in a report. "The Committee has suggested that providing customers with a free copy of their Credit Information Reports (CIRs...
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Posted Date : 23-Mar-2014 , 07:27:05 pm | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has cancelled leave of all officials on tax collection duty and ordered 24X7 functioning of its offices till March 31 in order to collect the remaining revenue of over Rs 50,000 crore before the end of the current financial year. The direct taxes tar...
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Posted Date : 23-Mar-2014 , 07:06:25 pm | Posted By CASANSAAR
The bank audit season is around the corner. Given the fact that the banking industry istypical in terms of its geographical and customer spread, the volume and varied natureof products and services offered, coupled with the strict constraints for completing theaudits, the members, many a times, face...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 929
- 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
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