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Posted Date : 20-Feb-2020 , 08:31:45 am | Posted By CASANSAAR
Describing India's latest tax reform GST as "the biggest madness of the 21st century," BJP leader and Rajya Sabha MP Subramanian Swamy said that the country needs to grow at 10 per cent per annum to become a superpower by 2030. He also demanded that former Prime Minister, late P V N...
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Posted Date : 20-Feb-2020 , 08:14:25 am | Posted By CASANSAAR
The Anti Evasion wing of CGST Delhi South Commissionerate has detected a case of Input Tax credit fraud through fake invoices issued by bogus firms. Investigations led to discovering the accused had also been generating bogus e-way bills to back the fake invoices. Over 35 entities are invol...
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Posted Date : 19-Feb-2020 , 03:56:11 pm | Posted By CASANSAAR
The Madras High Court in a recent order has opined that the faceless tax-assessment system “can lead to erroneous assessment, if officers are not able to understand the transactions and statement of accounts of an assessee without a personal hearing”.The court, however, said electronic-a...
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Posted Date : 19-Feb-2020 , 09:25:10 am | Posted By CASANSAAR
MCA Circular regarding Filing of forms in the Registry (MCA-21) by the Insolvency Professional (Interim Resolution Professional (IRP) or Resolution Professional (RP) or Liquidator) appointed under Insolvency Bankruptcy Code, 2016 (IBC, 2016). Watch This Video,,,, https://youtu.be/MRzpTTrDzQ4...
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Posted Date : 19-Feb-2020 , 09:18:01 am | Posted By CASANSAAR
In a moved aimed at de-stressing the GST system, the finance ministry staggered last dates of filling GSTR-3B, a monthly return form, and has provided three dates for different categories of taxpayers. Currently, the last date for filing GSTR-3B is 20th of every month. With the changes, there wil...
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Posted Date : 19-Feb-2020 , 09:12:25 am | Posted By CASANSAAR
Income Tax officials are increasingly issuing notices to directors of private limited companies which default on their tax dues, experts said. Directors are being held accountable for the tax compliance of the companies they work for under section 179 of the Income Tax Act dealing with recovery o...
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Posted Date : 19-Feb-2020 , 09:09:29 am | Posted By CASANSAAR
Months after forming a high level committee for looking into CA exam process and regulation, the Institute of Chartered Accountants of India (ICAI) has released the draft report based on the recommendations given by the committee. The ICAI had formed the committee and invited suggestions from stakeh...
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Posted Date : 18-Feb-2020 , 10:09:14 am | Posted By CASANSAAR
CBDT notifies Income Tax Form 10-IC and 10-ID for Lower Corporate Taxes Income Tax Form 10-IC and 10-ID for Lower Corporate Taxes explained by CA. Shivangi Mittal. Watch this Video. https://youtu.be/0QCyERD9VkI...
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Posted Date : 18-Feb-2020 , 10:06:36 am | Posted By CASANSAAR
Drawing lessons from the alleged role of auditors and their failure to flag irregularities at companies such as Infrastructure Leasing & Financial Services (IL&FS), the Ministry of Corporate Affairs (MCA) has floated a consultation paper seeking industry comments on various aspects of auditi...
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Posted Date : 18-Feb-2020 , 10:02:30 am | Posted By CASANSAAR
Several important documents, including those belonging to audit section of the Department of Goods and Services Tax and files related to the appellate authority — which handles disputes on recovery and payments — were damaged in a fire at GST Bhavan in Mazgaon on Monday. Deputy Chief Min...
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Posted Date : 18-Feb-2020 , 09:58:11 am | Posted By CASANSAAR
The markets regulator on Monday barred investment advisers from simultaneously selling financial products and advisory services, and capped the fees they can charge their clients, in an attempt to curb mis-selling and protect investors. From now on, an entity can provide either advisory services ...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 217
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Posted Date : 18-Feb-2020 , 09:53:43 am | Posted By CASANSAAR
Saskatchewan invited immigration candidates to apply for a provincial nomination for permanent residence. The Saskatchewan Immigrant Nominee Program (SINP) sent out a total of 646 invitations to candidates in the Express Entry and Occupations In-Demand categories. In order to be selected, cand...
Continue Reading... Category : International Business | Comments : 0 | Hits : 262
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Posted Date : 18-Feb-2020 , 09:27:35 am | Posted By CASANSAAR
Securities and Exchange Board of India (SEBI) has decided to permit the use of regulatory sandbox, a system that will allow live testing of new products, services and business models by market players on select customers. The decision was taken at SEBI’s board meeting held in Mumbai yesterday....
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Posted Date : 18-Feb-2020 , 09:22:40 am | Posted By CASANSAAR
Keeping with the Hon’ble PM’s objective of turning districts into export hubs, Central Board of Indirect Taxes and Customs has now started capturing district-wise data or origin of export goods. The idea was also recently echoed by the Hon’ble Finance Minister in her Budget speech....
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Posted Date : 17-Feb-2020 , 08:52:09 am | Posted By CASANSAAR
The Indian affiliate of Deloitte Haskins and Sells on Sunday said the auditor and its network firms in the country will no longer offer non-audit services to “public interest entities" they audit in India, three days after Price Waterhouse India made a similar announcement. “We b...
Continue Reading... Category : Auditing | Comments : 0 | Hits : 630
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Posted Date : 16-Feb-2020 , 09:59:43 am | Posted By CASANSAAR
Discussion on Revised IFRS 16 - Finance Lease by CA. Bhawna Dawar. Watch this Video, Click on the link below... https://youtu.be/qzMbyqdHhIY Dont forget to Like the Video and Subscribe CA Sansaar YouTube Channel....
Continue Reading... Category : IFRS | Comments : 0 | Hits : 395
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Posted Date : 16-Feb-2020 , 09:45:46 am | Posted By CASANSAAR
The Reserve Bank board on Saturday recommended aligning the central bank's accounting year, beginning July, with the financial year from 2020-21, an official statement said. The Central Board of Directors of the RBI at its 582nd meeting reviewed the current economic situation, global and dome...
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Posted Date : 16-Feb-2020 , 09:40:36 am | Posted By CASANSAAR
Interest payable on delayed payment of GST will henceforth be calculated on net tax liability and the law is being amended to give effect to it, the Central Board of Indirect Taxes and Customs (CBIC) said on Saturday. Amid worry in the industry regarding CBIC's recent directive to field forma...
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Posted Date : 15-Feb-2020 , 10:18:58 am | Posted By CASANSAAR
Permanent Account Number (PAN) will become inoperative if it is not linked with Aadhaar by March 31, 2020, the Income Tax department has said. The deadline for linking of PAN and Aadhar has been extended several times and the current deadline ends on March 31, 2020. Till January 27, 2020, over...
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Posted Date : 15-Feb-2020 , 10:02:20 am | Posted By CASANSAAR
Securities and Exchange Board of India (Sebi) on Thursday introduced a system to monitor and detect misuse of client securities by stock brokers, following the debacle at Karvy Stock Broking Ltd. Under the new system, an online register will record brokers’ holdings of client securities, a ...
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Posted Date : 15-Feb-2020 , 09:53:00 am | Posted By CASANSAAR
The income tax (I-T) department has notified forms for companies to avail the reduced corporate tax rates that were announced in September last year. The Central Board of Direct Taxes (CBDT) has notified Forms 10-IC and 10-ID for existing companies that want to avail lower I-T rate and new manufa...
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Posted Date : 15-Feb-2020 , 09:48:57 am | Posted By CASANSAAR
Successful resolutions of corporate insolvency proceedings till the end of 2019 are set to result in recoveries of Rs 1.52 lakh crore for lenders, averaging 43.1% of their admitted claims of Rs 3.52 lakh crore, according to data released by the Insolvency and Bankruptcy Board of India (IBBI). Res...
Continue Reading... Category : Insolvent Professional | Comments : 0 | Hits : 259
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Posted Date : 14-Feb-2020 , 10:54:28 am | Posted By CASANSAAR
How to reply to the GST Dept Notices on ITC explained by CA. Mohit Gupta. Watch this Video... https://youtu.be/6y3aeiFqUFs...
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Posted Date : 14-Feb-2020 , 10:48:07 am | Posted By CASANSAAR
Income Tax Department carried out Search and Seizure action on 6th February 2020 at Hyderabad, Vijaywada, Cuddapah, Vishakhapatnam, Delhi and Pune. More than 40 premises were covered. The search action included three prominent infrastructure groups based in Andhra Pradesh and Telangana. Investiga...
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Posted Date : 14-Feb-2020 , 10:38:22 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has elevated five officials to the executive directors’ post. The officials will be taking charge during the year. Those elevated are Indrani Banerjee, Regional Director, Nagpur, Saurav Sinha, chief general manager-in-charge, Vivek Deep, CGM in-charge, J.K...
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Posted Date : 14-Feb-2020 , 10:26:59 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) on February 13 reiterated that only 2,200 professionals had indeed declared annual income above Rs 1 crore in FY19, as had been stated by Prime Minister Narendra Modi in his February 12 address at an event. PM Modi's statement that it is was unbelievab...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 445
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Posted Date : 14-Feb-2020 , 10:14:29 am | Posted By CASANSAAR
Manitoba has sent out another round of invitations to immigration candidates who submitted Expression of Interest (EOI) profiles to their provincial nominee program. On February 13, the Manitoba Provincial Nominee Program (MPNP) invited 242 candidates to apply for a provincial nomination for perm...
Continue Reading... Category : International Business | Comments : 0 | Hits : 442
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Posted Date : 13-Feb-2020 , 10:15:34 pm | Posted By CASANSAAR
The finance ministry has notified a common application form for registration of foreign portfolio investors in a bid to enhance operational flexibility and ease of access to the Indian capital market. Last week, markets regulator Securities and Exchange Board of India (Sebi) had come out with a c...
Continue Reading... Category : Finance | Comments : 0 | Hits : 266
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Posted Date : 13-Feb-2020 , 09:34:37 pm | Posted By CASANSAAR
Price Waterhouse Network of Firms in India (PW India) on Thursday announced their decision to no longer provide non-audit related services to their audit clients in India which are governed by National Financial Reporting Authority (NFRA). This comes after a ministry of corporate affairs (MCA) discu...
Continue Reading... Category : Auditing | Comments : 0 | Hits : 346
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Posted Date : 13-Feb-2020 , 05:43:24 pm | Posted By CASANSAAR
The Directorate General of GST Intelligence (DGGI), Gurugram Zonal Unit (GZU), Haryana, has arrested Shri Nitin Jain, resident of Sonepat, Haryana, proprietor of M/s Shiv Trade Incorporation, Delhi, for issuing bogus invoices. During investigation it was revealed that Shri Nitin Jain has issued b...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 295
- 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
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