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Posted Date : 21-Apr-2019 , 07:19:23 am | Posted By CASANSAAR
It has been reported in certain sections of the media that commercial banks would have a 5 day week in terms of RBI instructions. It is clarified that this information is not factually correct. RBI has not issued any such directions. Yogesh Dayal Chief General Manager Press Release: 2018-2...
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Posted Date : 19-Apr-2019 , 10:28:32 pm | Posted By CASANSAAR
Markets regulator Sebi Thursday slapped a penalty of over Rs 1 crore on 11 entities for fraudulent and manipulative trading in the shares of Emed.com Technologies. The regulator had conducted investigation from August 2013 to June 2014 regarding the trading in the scrips of Emed.com Technol...
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Posted Date : 19-Apr-2019 , 10:25:41 pm | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has directed the Income-Tax Department to initiate penalty proceedings by June 30 against non-filers and ‘drop filers’ of tax returns. According to the non-filer monitoring system (NMS) of the I-T department, data for 20.4 million non-filers ha...
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Posted Date : 19-Apr-2019 , 10:23:20 pm | Posted By CASANSAAR
The Directorate General of Anti-Profiteering (DGAP) has served a notice on technology major Samsung India for allegedly not passing on the benefits of GST reduction to its customers and in turn making undue profits, sources said. The notice, sources said, was served on the basis of a compla...
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Posted Date : 19-Apr-2019 , 10:18:17 pm | Posted By CASANSAAR
The Banks Board Bureau (BBB), the apex body for selection of whole-time directors of state-owned lenders, has identified 75 senior management personnel of public sector lenders to take over leadership role in the future. From a pool of 450 senior management personnel across nationalised banks, an...
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Posted Date : 18-Apr-2019 , 11:33:03 am | Posted By CASANSAAR
The corporate affairs ministry has withdrawn its directions restricting Limited Liability Partnerships (LLPs) from engaging in manufacturing activities. Concerns were raised in various quarters about an office memorandum issued by the ministry earlier this month, wherein LLPs were restricted from ma...
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Posted Date : 17-Apr-2019 , 12:18:17 pm | Posted By CASANSAAR
The newly formed regulator for auditors is probing the role of three of the big four auditors in the alleged financial irregularity in Infrastructure Leasing & Financial Services and two of its group companies. National Financial Reporting Authority (NFRA) has asked Indian arms of EY, K...
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Posted Date : 17-Apr-2019 , 10:09:49 am | Posted By CASANSAAR
Opening up a new window for promoters looking to retain control of their companies facing bankruptcy proceedings, the National Company Law Appellate Tribunal (NCLAT) has held that shareholders and owners can reach a settlement with creditors when their entity is under liquidation and an official liq...
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Posted Date : 17-Apr-2019 , 10:03:55 am | Posted By CASANSAAR
Manufacturing & allied activities were restricted in LLPs vide OM No. CRC/LLP/e-Forms dated 06.03.2019. This OM invoking the restriction regarding manufacturing & allied activities has been withdrawn with immediate effect - MCA...
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Posted Date : 16-Apr-2019 , 10:02:42 pm | Posted By CASANSAAR
The Income Tax department has revised Form 16 by adding various details, including income from house property and remuneration received from other employers, thereby making it more comprehensive to help check tax avoidance. It will also include segregated information regarding deductions under vario...
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Posted Date : 16-Apr-2019 , 09:55:17 pm | Posted By CASANSAAR
The National Academy of Customs, Indirect Taxes and Narcotics (NACIN) has been authorized to conduct an examination for confirmation of enrollment of Goods and Services Tax Practitioners (GSTPs) in terms of the sub-rule (3) of Rule 83 of the Central Goods and Services Tax Rules, 2017, vide Notificat...
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Posted Date : 16-Apr-2019 , 11:12:35 am | Posted By CASANSAAR
The Ministry of Corporate Affairs (MCA) has issued some clarification with regards to filling of e-form DIR-3 KYC. In a notification, MCA said “DIN holders are required to file the DIR-3 KYC form every year, so that they are aware of and confirm the data & information as available in th...
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Posted Date : 16-Apr-2019 , 11:06:39 am | Posted By CASANSAAR
State-owned Bank of Baroda (BoB) is likely to complete the process of merger of Dena Bank and Vijaya Bank with it in two years, said a senior official of BoB. The merger of Dena Bank and Vijaya Bank with BoB became effective from April 1. Information technology platform integration alone will tak...
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Posted Date : 15-Apr-2019 , 09:29:25 pm | Posted By CASANSAAR
Although the Supreme Court has quashed the RBI's February 12, 2018 order on non-performing assets (NPA), the cases admitted for resolution process based on the order would continue, as the NCLT admits cases only if it is sure of the default irrespective of any circular, said the Insolvency and B...
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Posted Date : 15-Apr-2019 , 09:23:35 pm | Posted By CASANSAAR
Tax authorities have set a deadline of June 30 to clear up all demonetisation-related cases. In its interim action plan for the first quarter of 2019-20, the Central Board of Direct Tax (CBDT) has instructed its officials to “dispose of all cases related to demonetisation where assessment i...
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Posted Date : 15-Apr-2019 , 09:18:59 pm | Posted By CASANSAAR
Businesses with an annual turnover of over Rs 2 crore can now start filing GST audit reports for fiscal 2017-18 as GST Network (GSTN) has made its format available on its portal. The audit report for 2017-18, the first year of the goods and services tax (GST) implementation, is to be filed by Jun...
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Posted Date : 15-Apr-2019 , 09:11:55 pm | Posted By CASANSAAR
The government has decided to create an additional post of Deputy Comptroller and Auditor General, which will oversee coordination of audits of states as well as telecommunication. The decision was taken at a Cabinet meeting chaired by Prime Minister Narendra Modi Monday. "The Union Cabin...
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Posted Date : 13-Apr-2019 , 09:44:52 am | Posted By CASANSAAR
The Reserve Bank of India said reinsurance brokers have been permitted to open non-interest bearing foreign currency accounts with banks for undertaking transactions. Earlier, the Insurance Regulatory and Development Authority of India (Irdai) had issued notification in this regard. Follo...
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Posted Date : 13-Apr-2019 , 09:32:29 am | Posted By CASANSAAR
The Income tax Appellate Tribunal (ITAT) established its first bench in Pune on August 9, 1971, while the second Bench was added in 2004. Pune is the fourth largest city as far as the number of pending appeals is concerned. The Income tax Appellate Tribunal, Pune zone, got its third bench for Pun...
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Posted Date : 13-Apr-2019 , 09:26:54 am | Posted By CASANSAAR
A total of 1.21 crore taxpayers have been registered by the Goods and Services Tax Network (GSTN), its CEO Prakash Kumar said on Friday. "We started with 60 lakh taxpayers. Today, we have 1.21 tax-payers registered and 57.12 crore e-way bills generated so far," he said. An e-way bi...
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Posted Date : 13-Apr-2019 , 09:15:21 am | Posted By CASANSAAR
SEBI came out with revised guidelines for system audit to be conducted by mutual funds and asset management companies. The guidelines come after "considering the importance of system audit in technology driven asset management activity and to enhance and standardise the system aud...
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Posted Date : 12-Apr-2019 , 01:17:43 pm | Posted By CASANSAAR
Hearing a petition challenging the validity of the electoral bond scheme, the Supreme Court on Friday directed all political parties to furnish details of donations received via these bonds and said that the issue raised in the petition is "vital to fairness” of electoral process. The ...
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Posted Date : 11-Apr-2019 , 10:54:34 am | Posted By CASANSAAR
Chief Election Commissioner Sunil Arora has appealed to voters to come out in large numbers to cast their votes in today's polling so that the bedrock of democracy becomes even more strengthened and robust. Talking to AIR News, Mr Arora said, the Commission's vision will take ...
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Posted Date : 11-Apr-2019 , 10:48:02 am | Posted By CASANSAAR
nnual maintenance charges levied on debt securities held through basic services demat accounts will be revised from June 1, according to Sebi. The move is expected to further boost participation of retail investors in the debt market. Basic Services Demat Account (BSDA) offers limited services at...
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Posted Date : 10-Apr-2019 , 04:35:54 pm | Posted By CASANSAAR
The government has retained the interest rate for General Provident Fund, GPF, Contributory Provident Fund and other related schemes at 8 per cent for the first quarter of current financial year. The interest rate on these funds was at 8 per cent in January-March quarter of 2018-19 and gove...
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Posted Date : 10-Apr-2019 , 10:09:09 am | Posted By CASANSAAR
ITR 1 is For Individuals being a Resident (other than Not Ordinarily Resident) having Total Income upto Rs.50 lakhs, having Income from Salaries, One House Property, Other Sources (Interest etc.), and Agricultural Income upto Rs. 5 thousand (Not for an Individual who is either Director in a company ...
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Posted Date : 10-Apr-2019 , 09:57:24 am | Posted By CASANSAAR
The revenue department has asked tax officials to scrutinise the mismatch in turnover towards services between income tax returns and service tax returns by businesses during 2015-16 and 2016-17. Central Board of Indirect Taxes and Customs (CBIC) Chairman P K Das in a letter to field format...
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Posted Date : 09-Apr-2019 , 09:14:07 am | Posted By CASANSAAR
Reserve Bank of India(RBI) has come out with guidelines for banks to set up new currency chests, which include minimum area of 1,500 square feet for strong room. The RBI said that the new chests should have a processing capacity of 6.6 lakh pieces of banknotes per day. It added that for tho...
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Posted Date : 08-Apr-2019 , 09:07:31 am | Posted By CASANSAAR
In a decision that will benefit many taxpayers, the Mumbai bench of Income Tax Appellate Tribunal (ITAT) recently held that the date of allotment of a house shall be treated as the date of acquisition. The holding period will be counted from this date and not from the date of registration. Gains ...
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Posted Date : 08-Apr-2019 , 08:46:27 am | Posted By CASANSAAR
The tax department has given service providers with turnover of up to Rs 50 lakh time till April 30 to opt for the composition scheme and pay 6 per cent GST. The option to pay Goods and Services Tax (GST) at reduced rate of 6 per cent would be effective from the beginning of the financial y...
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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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