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Posted Date : 05-Jan-2019 , 09:31:43 am | Posted By CASANSAAR
Lok Sabha on Friday passed the Companies( Amendment) Bill, 2018 that seeks to improve ease of doing business, declog the NCLT and prescribe strong action against non-compliant companies. The bill was passed with a voice vote with amendments moved by the Minister of State for Corporate Affai...
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Posted Date : 03-Jan-2019 , 10:34:55 pm | Posted By CASANSAAR
Powered by the business of Dena Bank and Vijaya Bank, Bank of Baroda will become larger than ICICI Bank from 1 April following completion of the amalgamation process of three state-run banks. After State Bank of India (SBI) and HDFC Bank, with businesses of Rs 45.85 trillion and Rs 15.8 trillion res...
Continue Reading... Category : Banking | Comments : 0 | Hits : 402
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Posted Date : 03-Jan-2019 , 10:26:20 pm | Posted By CASANSAAR
Markets regulator Securities and Exchange Board of India (SEBI) has allowed custodial services in the commodity derivatives market. The move is aimed at enabling the participation of institutional investors such as mutual funds and portfolio managers in the commodity derivatives market.&nbs...
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Posted Date : 02-Jan-2019 , 06:46:19 pm | Posted By CASANSAAR
The Reserve Bank of India has undertaken enforcement action against seven banks (including a payments bank and a cooperative bank) and has imposed an aggregate penalty of Rs 14.20 crore for a wide range of contraventions in the period between July 1, 2018 and October 31, 2018, according to the lates...
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Posted Date : 02-Jan-2019 , 06:32:49 pm | Posted By CASANSAAR
Bank of Baroda announced on January 2 the fair equity share exchange ratio for shareholders of Vijaya Bank and Dena Bank. According to a release filed with the exchanges, Bank of Baroda said Vijaya Bank shareholders will receive 402 shares of BoB for 1,000 shares held of Vijaya Bank. Dena Bank&rs...
Continue Reading... Category : Merger & Acquisitions | Comments : 0 | Hits : 251
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Posted Date : 02-Jan-2019 , 06:21:13 pm | Posted By CASANSAAR
The Union Cabinet approved the first-ever three-way merger in the history of Indian banking with the amalgamation of state-owned Vijaya Bank, Dena Bank and Bank of Baroda (BoB). "There will be no impact on the service conditions of the employees and there will be no retrenchment followi...
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Posted Date : 02-Jan-2019 , 06:24:44 am | Posted By CASANSAAR
ICAI have announced the Election Dates for Managing Committees Member of Branches. Each Branch having upto 500 Members shall be governed by a Managing Committee composed of 5 Members instead of 6 Members, as at present. Each Branch having more than 500 Members shall be go...
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Posted Date : 02-Jan-2019 , 10:30:05 am | Posted By CASANSAAR
The Mumbai bench of the National Company Law Tribunal (NCLT) on allowed the Govt to reopen and recast the accounts of Infrastructure Leasing and Financial Services Ltd (IL&FS) and its subsidiaries, IL&FS Transportation Network Ltd and IL&FS Financial Services, for the past five years. ...
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Posted Date : 02-Jan-2019 , 10:20:56 am | Posted By CASANSAAR
The government has waived late fees for non-filers of summary and final sales returns for the July 2017-September 2018 period by businesses registered under the goods and services tax (GST). However, these businesses would have to file their returns for the 15-month period by March 31, 2019, the ...
Continue Reading... Category : GST | Comments : 0 | Hits : 704
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Posted Date : 02-Jan-2019 , 10:18:43 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) on Monday said that all derivatives will be settled physically to curb volatility and promote borrowing and lending. In a physical settlement, traders have to take delivery of shares on the settlement day against the derivatives positions. All the...
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Posted Date : 02-Jan-2019 , 09:46:00 am | Posted By CASANSAAR
Reserve Bank has allowed a one-time restructuring of existing debt of up to 25 crore rupees for the companies which have defaulted on payment but the loans given to them have continued to be classified as standard assets. The decision will help the micro, small and medium enterprises (MSMEs) which a...
Continue Reading... Category : RBI | Comments : 0 | Hits : 258
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Posted Date : 01-Jan-2019 , 07:38:42 pm | Posted By CASANSAAR
The Central Government notified the commencement of section 247 (relating to valuers) of the Companies Act, 2013 with effect from 18th October, 2017. It also notified the Companies (Registered Valuers and Valuation) Rules, 2017 on 18th October, 2017. 2. The Central Government, vide a notification...
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Posted Date : 01-Jan-2019 , 05:13:28 pm | Posted By CASANSAAR
The total gross GST revenue collected in the month of December, 2018 is Rs. 94,726 crore of which CGST is Rs. 16,442 crore, SGST is Rs. 22,459 crore, IGST is Rs. 47,936 crore (including Rs. 23,635 crore collected on imports) and Cess is Rs. 7,888 crore (including Rs. 838 crore collected on imports)....
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Posted Date : 01-Jan-2019 , 07:01:40 am | Posted By CASANSAAR
New Year is not about changing the Dates but Direction; It's not about changing the Calendar but Commitment; It's not about changing the Actions but Attitude; It's not about changing the Fruit but Faith, Force and Focus!! May you Commit and Create the best New Year Ever!!! Happy N...
Continue Reading... Category : General | Comments : 0 | Hits : 180
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Posted Date : 01-Jan-2019 , 12:25:52 pm | Posted By CASANSAAR
23 goods and services, including movie tickets, TV and monitor screens and power banks become cheaper from today as the reduced Goods and Services Tax (GST) on them came in to effect from today. The GST Council on December 22 had decided to cut tax rates on 23 goods and services and exempte...
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Posted Date : 31-Dec-2018 , 01:16:50 pm | Posted By CASANSAAR
Fraudsters have looted Rs 41,167.7 crore from the banking system in 2017-18, a sharp jump of 72 per cent from Rs 23,933 crore the previous year, despite “stringent monitoring and vigilance”, according to data released by the Reserve Bank of India (RBI). There were 5,917 instances of b...
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Posted Date : 29-Dec-2018 , 04:32:30 pm | Posted By CASANSAAR
The central bank has called for strengthening the infrastructure at the National Company Law Tribunals (NCLT) to ensure time-bound resolution of stressed-asset loans in the banking sector, where the problem of mounting bad debt has prompted curbs on the normal operations at several high-street lende...
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Posted Date : 29-Dec-2018 , 11:34:05 am | Posted By CASANSAAR
The government has detected GST evasion worth Rs.38,896 crore in 6,585 cases in the April-October period of 2018-19, Parliament was informed on Friday. Minister of State for Finance Shiv Pratap Shukla said while central excise evasion of ₹3,028.58 crore in 398 cases was unearthed during the...
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Posted Date : 29-Dec-2018 , 09:47:57 am | Posted By CASANSAAR
Public sector banks have approved more than 1.12 lakh loan applications of MSMEs worth of 37,412 crore rupees under the '59 minutes' loan scheme launched by the government last month. GST-registered Micro, Small and Medium Enterprises (MSMEs) can take loan up to one crore in just 59 minutes...
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Posted Date : 28-Dec-2018 , 04:28:57 pm | Posted By CASANSAAR
Names of more than 1 lakh companies have been struck off the official records in the current fiscal for not carrying business activities for a long time, the government said Friday. As part of clamping down on illicit fund flows, the Corporate Affairs Ministry has been taking action against entit...
Continue Reading... Category : Companies Act | Comments : 0 | Hits : 750
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Posted Date : 28-Dec-2018 , 10:14:46 am | Posted By CASANSAAR
IGFL is among the firms against whom Sebi initiated action in Aug 2017 by ordering trading restrictions after it received a list of 331 suspected shell companies. Markets regulator Sebi on Thursday refused to grant a stay on the forensic audit of Inter Globe Finance, which is suspected to be a sh...
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Posted Date : 28-Dec-2018 , 10:00:52 am | Posted By CASANSAAR
The much-anticipated hearing in the CA Institute’s inquiry against certain statutory auditors of beleaguered IL&FS Group stands postponed. The first hearing, which was scheduled to take place in Kolkata on Friday, has been postponed, sources close to the developments said. There is no i...
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Posted Date : 27-Dec-2018 , 03:38:26 pm | Posted By CASANSAAR
ANNOUNCEMENT UDIN - A way to authenticate document As you are aware that to secure the certificates/documents attested/certified by practicing Chartered Accountants and for tracing forged/wrong documents prepared by any third person misrepresenting himself as a Chartered Accountant, ICAI had...
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Posted Date : 27-Dec-2018 , 10:47:59 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) has written to the finance ministry seeking the appointment of at least two independent members, said two people with direct knowledge of the matter. The aim is to resolve the problem of “lack of independent voices on its board”. The m...
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Posted Date : 27-Dec-2018 , 10:44:44 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI), in its interim report has said statutory auditors of Infrastructure Leasing & Financial Services Ltd (IL&FS) acted in a 'negligent and fraudulent manner' and prepared incorrect financial statements of the debt-laden group. Deloi...
Continue Reading... Category : Auditing | Comments : 0 | Hits : 1507
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Posted Date : 27-Dec-2018 , 10:36:02 am | Posted By CASANSAAR
Government has reviewed guidelines for Foreign Direct Investment in E- commerce companies to protect the interests of domestic players. It has taken host of steps and barred e-commerce companies from selling products of the companies in which they have stake. In a statement, the Commerce and Industr...
Continue Reading... Category : Finance | Comments : 0 | Hits : 662
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Posted Date : 27-Dec-2018 , 10:34:31 am | Posted By CASANSAAR
Reserve Bank of India has named former Governor Bimal Jalan as the head of the expert panel that will decide on the appropriate size of reserves that the central bank should maintain and the dividend it should give to the government. RBI said in a statement yesterday that expert committee has bee...
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Posted Date : 27-Dec-2018 , 10:24:48 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) will capture payment habits of individuals in six cities, including four metropolitan towns. For the purpose, the central bank has launched a 'Survey on Retail Payment Habits of Individuals (SRPHi)'. According to RBI release, the survey will cover a sample ...
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Posted Date : 26-Dec-2018 , 05:50:58 pm | Posted By CASANSAAR
The government and the Insolvency & Bankruptcy Board of India want to invoke certain sections against companies, which have decided to withdraw their offers to buy out stressed companies through the resolution process and derailing the complete process, says a Times of India report. The publi...
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Posted Date : 26-Dec-2018 , 12:07:17 pm | Posted By CASANSAAR
The income tax department on Monday allowed manual filing of form by resident and NRI taxpayers wanting to apply for deduction of taxes at a lower or nil rate on total income. The Income Tax Act, 1961, provides that if a taxpayer considers that her total income warrants deduction of income tax at...
Continue Reading... Category : TDS | Comments : 0 | Hits : 744
- 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
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- 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
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- 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
