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Posted Date : 20-Sep-2019 , 09:20:17 am | Posted By CASANSAAR
The government on Wednesday formally notified the amendments to the foreign direct investment (FDI) policy in single-brand retail. Last month, the Cabinet had relaxed key aspects of the 30% local sourcing rules applicable to single-brand retail entities where FDI is over 51%. In a boo...
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Posted Date : 20-Sep-2019 , 09:14:40 am | Posted By CASANSAAR
Reserve Bank of India (RBI) is determined to go ahead with the linkage of bank lending rates with external benchmarks and is also studying the possibility of mandating non-banking finance companies (NBFCs), people familiar with the matter said. Earlier this month, RBI made it mandatory for banks ...
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Posted Date : 20-Sep-2019 , 09:02:53 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India Important Announcement The Council of ICAI has decided to extend the last date for payment of Membership /COP fee for the year 2019-20 up to 30th November, 2019. Date: 18th September, 2019 M& C-MSS Section ICAI, NOIDA...
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Posted Date : 20-Sep-2019 , 08:39:06 am | Posted By CASANSAAR
Government has approved 8.65 per cent interest rate on deposits in Employees Provident Fund for 2018-19. Sources said, Ministry of Labour and Employment has notified 8.65 per cent rate of interest on EPF deposits for its over six crore subscribers. The EPFO has been settling EPF withdrawal claims...
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Posted Date : 19-Sep-2019 , 01:45:30 pm | Posted By CASANSAAR
Extension of time limit of UDIN generation from 15 days to 30 days - One Time Relaxation In response to the various representations received from Members at large for inability in generating UDIN due to floods in many parts of the Country and related internet issues, the Council at its 386th Meet...
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Posted Date : 19-Sep-2019 , 09:49:47 am | Posted By CASANSAAR
The NCLAT on Tuesday said ‘secured financial creditors’ should not be discriminated on the ground of dissenting vote, and given separate treatment in the settlement of claims. Allowing the appeal of Hero Fincorp Ltd, the appellate tribunal said that the amended regulations of the Inso...
Continue Reading... Category : Insolvent Professional | Comments : 0 | Hits : 363
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Posted Date : 19-Sep-2019 , 09:45:31 am | Posted By CASANSAAR
The National Financial Reporting Authority (NFRA) has made it clear that it has oversight powers on the auditors of nationalised banks (public sector banks) as well. There was a contention that PSBs don't fall within the definition of 'banking companies' under the NFRA rules and, ther...
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Posted Date : 19-Sep-2019 , 09:39:01 am | Posted By CASANSAAR
After the income tax return (ITR) filing season is over, taxpayers have started to get tax refunds in their bank accounts. Miscreants have now started to take advantage of unsuspecting assesses by sending out fraudulent SMSes with phishing links. Sample this. "Important Alert! Dear xxxxxxxx,...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 473
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Posted Date : 19-Sep-2019 , 09:24:06 am | Posted By CASANSAAR
In line with the Government’s objective of promoting Ease of Living in the country by providing Ease of Doing Business to law abiding corporates, fostering improved corporate compliance for stakeholders at large and also to address emerging issues having impact on the working of corporates in ...
Continue Reading... Category : Companies Act | Comments : 0 | Hits : 504
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Posted Date : 18-Sep-2019 , 08:21:08 am | Posted By CASANSAAR
Non-Government Organisations (NGOs) receiving substantial financing from the government are bound to give information to the public under the RTI Act, the Supreme Court held on Tuesday. The top court said that institutions like schools, colleges and hospitals which receive substantial aid from th...
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Posted Date : 18-Sep-2019 , 08:18:19 am | Posted By CASANSAAR
All invoices of sales and purchase will be replaced via the government prescribed e-invoice pan-India from January 2020, people aware of the matter told CNBC-TV18. The goods and services tax (GST) council will deliberate on new format and system for issuing of e-invoice during their meeting on Septe...
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Posted Date : 18-Sep-2019 , 08:14:52 am | Posted By CASANSAAR
Aadhaar card holders can now update their personal details such as photograph, biometrics, gender, mobile number and email ID without requiring to submit any physical documents. Cardholders who need to update their details can simply walk into the nearest official Aadhaar Seva Kendra and get them up...
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Posted Date : 18-Sep-2019 , 07:55:29 am | Posted By CASANSAAR
Almost 50 per cent of corporate insolvency resolution process (CIRP) cases initiated against corporate debtors is by operational creditors, while financial creditors have initiated 40 per cent of the total CIRPs against corporate debtors, the data compiled by Insolvency and Bankruptcy Board of India...
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Posted Date : 17-Sep-2019 , 09:22:35 am | Posted By CASANSAAR
Applicability of ICDS with respect to ITR Forms by CA.Rajiv Jain with CA.Vivek Khurana. https://youtu.be/6dJH48MHJ9s Don't Forget to *SUBSCRIBE* CA Sansaar YouTube Chanel. Click on the link and Subscribe. https://www.youtube.co...
Continue Reading... Category : Tax Audit | Comments : 0 | Hits : 997
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Posted Date : 17-Sep-2019 , 09:15:04 am | Posted By CASANSAAR
In a consumer friendly initiative, the RBI on Monday expanded the scope of Bharat Bill Payment System (BBPS) to cover all repetitive bill payments, which may include school fees, insurance premiums and municipal taxes. Currently, the facility of payment of recurring bills through BBPS is available o...
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Posted Date : 17-Sep-2019 , 09:11:32 am | Posted By CASANSAAR
With an aim to unearth financial irregularities and other fraudulent transactions at listed companies, capital market regulator Sebi is planning to set up a new whistle-blower mechanism for auditors and other 'gate-keepers' to report such cases. The proposed move assumes significance in t...
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Posted Date : 17-Sep-2019 , 09:06:00 am | Posted By CASANSAAR
To give relief to the rural economy, the government has exempted agriculture produce marketing committees (APMCs) from the purview of the 2% tax deducted at source (TDS) on payments above Rs.1 crore, an anti-abuse provision in the Income Tax Act introduced this year. Finance minister Nirmala Sith...
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Posted Date : 16-Sep-2019 , 09:11:15 am | Posted By CASANSAAR
BlockChain - Why Should Professionals get into it? by CA.Shailesh Churiwala and CA Vivek Khurana. https://youtu.be/zuFR8eZgaXM Don't Forget to *SUBSCRIBE* CA Sansaar YouTube Chanel. Click on the link and Subscribe. https://www....
Continue Reading... Category : Bitcoins | Comments : 0 | Hits : 843
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Posted Date : 16-Sep-2019 , 08:56:47 am | Posted By CASANSAAR
In a bid to get more participants in the small finance banking space, the Reserve Bank of India on Friday said it is thinking of permitting small private entities, payment banks, NBFCs, MFIs and cooperative banks to apply and convert into a small finance bank (SFB). RBI clarified only small priva...
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Posted Date : 15-Sep-2019 , 10:59:07 am | Posted By CASANSAAR
The amalgamated entity of United Bank of India (UBI), Punjab National Bank (PNB) and Oriental Bank of Commerce (OBC) will come into effect from April 1 next year, a top official said on Saturday. The merged unit, likely to have a new name, will be the second-largest bank in the country after Stat...
Continue Reading... Category : Banking | Comments : 0 | Hits : 556
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Posted Date : 15-Sep-2019 , 10:45:43 am | Posted By CASANSAAR
The GST Network has decided to make Aadhaar authentication or physical verification mandatory for new dealers from January next year to check malpractices in GST. This was announced by Deputy Chief Minister of Bihar Sushil Kumar Modi, who heads the Group of Ministers of GST Network. Addressing media...
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Posted Date : 15-Sep-2019 , 10:43:40 am | Posted By CASANSAAR
Finance Minister Nirmala Sitharaman has announced a fresh set of measures worth around 70,000 crore rupees to boost exports and housing sector. She said that the government will provide a 10,000 crore rupees special window with an aim to help complete ongoing affordable and middle-income housing pro...
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Posted Date : 14-Sep-2019 , 08:47:27 am | Posted By CASANSAAR
The Goods and Services Tax Network (GSTN) on Friday released two forms-- ANX-1 and ANX-2--for simplified online returns. A taxpayer will have to file FORM GST RET-1 (normal), or FORM GST RET-2 (Sahaj), or GST RET-3 (Sugam) returns. Annexure of supplies (GST ANX-1) and annexure of inward supplies ...
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Posted Date : 14-Sep-2019 , 08:46:06 am | Posted By CASANSAAR
The Enforcement Directorate (ED) has slapped an over Rs.230-crore FEMA violation show cause penalty notice against multi-national accounting firm PricewaterhouseCoopers (PwC) and others, officials said on Friday. They said the notice was issued under the Foreign Exchange Management Act (FEM...
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Posted Date : 14-Sep-2019 , 08:43:20 am | Posted By CASANSAAR
The board of Canara Bank has given in-principal approval to the merger with Syndicate Bank. Finance Minister Nirmala Sitharaman had announced consolidation of 10 state-run banks into four large-scale banks on August 30. "The Board of Directors of the Bank in its meeting held today, considere...
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Posted Date : 14-Sep-2019 , 08:38:19 am | Posted By CASANSAAR
The all-powerful GST Council is set to discuss a proposal to exempt small businesses with annual turnover of less than Rs 2 crore from filing annual returns. Senior officials said that despite three extensions for filing the returns, the number has been unsatisfactory. "It is ranging from 25...
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Posted Date : 14-Sep-2019 , 08:33:21 am | Posted By CASANSAAR
CBDT prescribed Cost Inflation Index (CII) for the Financiya Year 2019 - 20 is 289....
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 660
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Posted Date : 14-Sep-2019 , 08:27:31 am | Posted By CASANSAAR
The income tax department’s scheme for assessing tax returns electronically without any personal contact between officials and tax payers has become effective, with the government notifying the e-assessment scheme, 2019, on Friday. Personal representation is allowed under the scheme in spec...
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Posted Date : 13-Sep-2019 , 09:49:23 am | Posted By CASANSAAR
BlockChain - Opportunities and Challenges for Chartered Accountants by CA.Shailesh Churiwala and CA Vivek Khurana. https://youtu.be/zuFR8eZgaXM Don't Forget to *SUBSCRIBE* CA Sansaar YouTube Chanel. Click on the link and Subscribe.  ...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 758
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Posted Date : 13-Sep-2019 , 09:43:28 am | Posted By CASANSAAR
The RBI on Thursday increased loan exposure limit of banks to a single NBFC (excluding gold loan companies) from 15% to 20% of its capital base, a move that will help increase credit supply to the crisis-ridden shadow banking sector. According to the extant 'Large Exposures Framework (LEF)...
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- 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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