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Posted Date : 22-Oct-2019 , 10:25:56 am | Posted By CASANSAAR
Government has asked businesses with turnover exceeding Rs 50 crore to mandatorily provide electronic modes of payment from November 1. To this end, a new provision, namely Section 269SU, has been inserted in the Income-tax Act, said Central Board of Direct Taxes in a statement. The CBDT further ...
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Posted Date : 22-Oct-2019 , 10:14:44 am | Posted By CASANSAAR
The Supreme Court has issued non-bailable warrants against managing directors of 32 companies for not complying with its order. The managing directors now face imminent arrest and will have to be produced in the top court by the Mumbai Police if they fail to get preventive orders. The li...
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Posted Date : 22-Oct-2019 , 10:01:19 am | Posted By CASANSAAR
GST Network, provides the IT infrastructure and services for the implementation of the GST, will on October 22 release the version 3 of GST return filing interface. The new version has incorporated many improvements suggested by users. Currently, version 2 of the GST return filing interface...
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Posted Date : 21-Oct-2019 , 09:02:17 am | Posted By CASANSAAR
The government has brought commodity options trading and settlement on a par with equities, paving the way for new norms for farmers and small and medium enterprises to step up hedging. Commodity options can now be settled directly. The current practice is options devolve into futures first and t...
Continue Reading... Category : Shares & Stock | Comments : 0 | Hits : 329
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Posted Date : 21-Oct-2019 , 08:56:15 am | Posted By CASANSAAR
Regulator Sebi put in place stricter norms for auditors, including prompt disclosures about reasons for their resignation and requirement to approach chairman of audit committee directly in case of any concerns with management of the firm concerned. The norms have been issued against the backdrop of...
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Posted Date : 21-Oct-2019 , 08:49:02 am | Posted By CASANSAAR
The new Goods and Services Tax (GST) returns from April 2020 that mandate providing more details may require companies to amend their enterprise resource planning (ERP) systems. Tax experts and chartered accountants (CAs) said that the new return systems would require a lot of details such as pur...
Continue Reading... Category : GST | Comments : 0 | Hits : 949
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Posted Date : 19-Oct-2019 , 09:50:57 am | Posted By CASANSAAR
Changyong Rhee, Director, Asia and Pacific Department, IMF, said that following a marked slowdown in the last two quarters in India, the economy is expected to grow at 6.1% this fiscal. The International Monetary Fund (IMF) on Friday supported India’s recent decision to reduce corporate inc...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 303
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Posted Date : 18-Oct-2019 , 07:09:03 am | Posted By CASANSAAR
What is Under-reporting or Mis-reporting of income under Income Tax Act? New Penalty Provisions under Section 270A, Immunity under Section 270AA of Income-tax Act. Explained by Advocate (CA) Kapil Goel with CA Vivek Khurana. https://youtu.be/V3KvlcicDSE Don't Forget to SUBSC...
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Posted Date : 18-Oct-2019 , 07:01:32 am | Posted By CASANSAAR
The regulator, auditor and management should be held responsible for fraud in Punjab and Maharashtra Co-operative Bank or other banks, Minister of State for Finance Anurag Thakur said on Thursday. Thakur said that in case of PMC Bank, the Reserve Bank of India has allowed withdrawal of Rs 40,000, wh...
Continue Reading... Category : Banking | Comments : 0 | Hits : 783
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Posted Date : 17-Oct-2019 , 09:48:56 pm | Posted By CASANSAAR
On the Successful Completion of its 10 Years, CA SANSAAR offers a Golden opportunity to its Members, where they could create their own stunning website with multiple designs and templates to choose. It will be completely your own space, which is going to be a Dynamic Websit...
Continue Reading... Category : General | Comments : 0 | Hits : 463
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Posted Date : 17-Oct-2019 , 09:52:32 am | Posted By CASANSAAR
Reserve Bank of India (RBI) governor Shaktikanta Das came under pressure at the bank’s board meeting last week, with two external directors questioning how a string of frauds that have surfaced since 2018 remained undetected for years. The two board members referred to the losses suffered b...
Continue Reading... Category : RBI | Comments : 0 | Hits : 471
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Posted Date : 16-Oct-2019 , 11:12:16 am | Posted By CASANSAAR
Amid concerns over possible data breaches, markets regulator Sebi on Tuesday put in place a detailed cybersecurity framework for KYC registration agencies, requiring them to define responsibilities of employees, including outsourced staff, who have privileged access to networks. Besides, the watchdo...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 449
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Posted Date : 16-Oct-2019 , 11:08:02 am | Posted By CASANSAAR
The Insolvency and Bankruptcy Board of India (IBBI) Chairman M.S. Sahoo has said that there should be a statuary nod given to valuation professionals in India to further streamline the profession. Speaking at an event here, Sahoo said: "IBBI is looking for valuers who are part of a setup whi...
Continue Reading... Category : Insolvent Professional | Comments : 0 | Hits : 486
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Posted Date : 16-Oct-2019 , 11:04:42 am | Posted By CASANSAAR
The Centre’s plan of faceless assessment has not gone down well with income-tax officials. Days before its introduction on October 7, they had sent a complaint letter to the Central Board of Direct Taxes (CBDT), claiming that the new scheme was implemented in a “hurry without considering...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 1657
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Posted Date : 16-Oct-2019 , 10:57:43 am | Posted By CASANSAAR
If data from the income tax department's records is taken into account, India had more than 97,000 people earning a taxable income of over ₹1 crore in the financial year 2017-18. The Central Board of Direct Taxes (CBDT) has now come out with a detailed break-up of data collected from in...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 581
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Posted Date : 16-Oct-2019 , 10:46:48 am | Posted By CASANSAAR
Please note that the DINs which have not complied with the requirement of filing DIR-3 KYC have since been marked as ‘Deactivated due to non-filing of DIR-3 KYC’. Such DINs are not allowed to be used for filing any eforms on MCA21 portal. In case the present status of your DIN is &lsq...
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Posted Date : 15-Oct-2019 , 09:33:34 am | Posted By CASANSAAR
The income tax department has advised taxpayers to check their registered e-filing accounts and email ids as the first phase of the e-Assessment Scheme 2019 gets underway. In the first phase, the income tax department has selected 58,322 cases for scrutiny under the new e-assessment scheme ...
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Posted Date : 15-Oct-2019 , 09:23:41 am | Posted By CASANSAAR
Permanent Account Number (PAN) card is an essential document used for several purposes. It is compact and can fit easily into wallets. You can order a reprint of your PAN card for just Rs 50 in case you have lost or damaged it, or want a copy of it. A PAN card is issued by the income tax departme...
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Posted Date : 15-Oct-2019 , 09:17:29 am | Posted By CASANSAAR
The Reserve Bank of India has imposed a monetary penalty of Rs.1 crore on Lakshmi Vilas Bank (LVB) and Rs.75 lakh on Syndicate Bank. In the case of LVB, the RBI said the penalty has been imposed for non-compliance with certain provisions of directions issued by it on ‘Income Recognition and...
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Posted Date : 15-Oct-2019 , 09:13:26 am | Posted By CASANSAAR
ICAI has released the admit Card or hall tickets for Chartered Accountancy foundation, intermediate and final levels exams 2019. The admit cards have been released on the official website of Institute aof Chartered Accountants of India (ICAI) at https://icaiexam.icai.org How to download ICAI CA N...
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Posted Date : 15-Oct-2019 , 09:07:44 am | Posted By CASANSAAR
Reserve Bank has enhanced the withdrawal limit for the account holder of Punjab and Maharashtra Cooperative Bank or PMC Bank to 40 thousand rupees from 25 thousand rupees. This is the third time, RBI has raised the withdrawal limit since its clamp down on PMC Bank last month. In a statement, RBI sai...
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Posted Date : 14-Oct-2019 , 07:23:54 pm | Posted By CASANSAAR
Legal Provisions for filing GSTR 9 and GSTR 9C. (Legal Provisions for filing GSTR 9 and GSTR 9C by CA Rahul Jain) https://youtu.be/4xU6FeQRq8o Dont Forget to SUBSCRIBE CA Sansaar YouTube Channel. http://bit.ly/2Hg4TBB...
Continue Reading... Category : GST | Comments : 0 | Hits : 1199
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Posted Date : 14-Oct-2019 , 09:10:49 am | Posted By CASANSAAR
A government panel will discuss on Tuesday ways to intensify enforcement activities against goods and services tax (GST) defaulters who have been identified by a fraud detection software, amid GST collections dropping to a 19-month low in September. This marks a shift from handholding businesses ...
Continue Reading... Category : GST | Comments : 0 | Hits : 605
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Posted Date : 14-Oct-2019 , 09:03:45 am | Posted By CASANSAAR
In a major blow to Bhushan Power and Steel Limited (BPSL), the Enforcement Directorate (ED) on Saturday attached assets worth Rs.4,025 crore, in connection with its ongoing money-laundering probe linked to an alleged bank loan fraud. The probe agency said it had attached immovable properties &mda...
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Posted Date : 14-Oct-2019 , 09:00:49 am | Posted By CASANSAAR
The government is set to decriminalise two-thirds of the Companies Act as it looks to do away with jail term in over 40 sections out of the 66 where compounding is permitted. Besides, the ministry of corporate affairs, which is pushing the change, is also seeking to lower the penalty for small co...
Continue Reading... Category : Companies Act | Comments : 0 | Hits : 497
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Posted Date : 12-Oct-2019 , 08:34:36 am | Posted By CASANSAAR
The UN children’s agency, Unicef, has announced it is accepting and disbursing donations through cryptocurrencies ether and bitcoin. Unicef’s new Cryptocurrency Fund is the latest in a series of efforts by aid organisations to experiment with “blockchain” currencies, which...
Continue Reading... Category : Bitcoins | Comments : 0 | Hits : 353
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Posted Date : 12-Oct-2019 , 08:31:33 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) has put in place a framework for domestic companies to raise capital by issue of so-called depository receipts (DRs). The move, which follows a budget announcement in this regard, will allow listed Indian companies to issue either equity, or debt, to...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 241
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Posted Date : 12-Oct-2019 , 08:28:35 am | Posted By CASANSAAR
The government is working on creating an information system to provide basic financial and other details of stressed companies to potential acquirers through the corporate insolvency process, a senior government official said. The move will help bridge the information gap faced by bidders and is exp...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 210
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Posted Date : 11-Oct-2019 , 10:11:09 am | Posted By CASANSAAR
Demonstration of DIR 3 KYC under Companies Act (Demonstration of DIR 3 KYC by CS Reema Jain with CA Vivek Khurana) https://youtu.be/O-r28314jjQ Don't forget to SUBSCRIBE CA Sansaar YouTube Channel...
Continue Reading... Category : Companies Act | Comments : 0 | Hits : 411
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Posted Date : 11-Oct-2019 , 10:03:16 am | Posted By CASANSAAR
Businesses will have to pursue their vendors on a monthly basis to upload their invoices to enable them to take the entire input tax credit (ITC) after the indirect tax board came out with a notification to restrict these credits to 20 per cent of the claims. Concerned at dwindling revenues, the ...
Continue Reading... Category : GST | Comments : 0 | Hits : 1294
- 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
