Login  |  Register  |  Forgot Password 
Below Login Ad

News - (Get Professional Updates on Whatsapp, Msg on 8285393786)

CBDT Notifies Scheme for Online Filing and Processing of Appeals
Posted Date : 31-May-2023 , 07:34:08 am | Posted By CASANSAAR

The Central Board of Direct Taxes (CBDT) notified E-Appeals Scheme, 2023 which will speed up hearing of appeals in I-T matters. The Finance Bill in February had proposed a new authority for hearing appeals: Joint Commissioner of Income-Tax (Appeals) or JCIT (A).  As the explanatory memorandu...

Continue Reading...

Category : CBDT | Comments : 0 | Hits : 257

Advisory on Filing of Declaration In Annexure V by Goods Transport Agency (GTA)
Posted Date : 31-May-2023 , 07:19:40 am | Posted By CASANSAAR

Advisory on Filing of Declaration In Annexure V by Goods Transport Agency (GTA) opting to pay tax under forward charge mechanism   The GTAs, who commence business or cross registration threshold on or after 1st April, 2023, and wish to opt for payment of tax under forward charge mechan...

Continue Reading...

Category : GST | Comments : 0 | Hits : 69

RBI Governor advises Bank Boards to adopt fair practices for customer protection
Posted Date : 29-May-2023 , 10:43:37 pm | Posted By CASANSAAR

Reserve Bank of India’s Governor Shaktikanta Das advised Bank Boards to adopt fair practices and customer protection including digital lending. Quick and effective redress of customers' grievances reflect the efficacy of a bank’s overall functioning, he added.  Mr. Das was ad...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 85

Income Tax Dept. to conduct Scrutiny where assessees failed to respond to I.T. Notices
Posted Date : 29-May-2023 , 10:21:25 am | Posted By CASANSAAR

The Income Tax department has come out with guidelines for selection of cases for scrutiny, under which cases wherein assessees have not responded to I-T notices will be picked up for compulsory examination. The department will also undertake cases for scrutiny where specific information regarding t...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 1349

CBIC issues SoPs for scrutiny of GST returns for FY20 onwards
Posted Date : 29-May-2023 , 10:18:16 am | Posted By CASANSAAR

Detailing the standard operating procedure (SoP) for scrutiny of tax returns from the financial year 2019-20 onwards under the Goods and Services Tax (GST) regime, the Central Board of Indirect Taxes and Customs (CBIC) has stated that the analytics unit will identify returns for scrutiny depending o...

Continue Reading...

Category : GST | Comments : 0 | Hits : 251

RBI Slaps Penalty of Rs. 84.50 Lakh on Central Bank for Regulatory Non Compliance
Posted Date : 27-May-2023 , 08:58:13 am | Posted By CASANSAAR

The Reserve Bank of India (RBI) has taken action against Central Bank of India by imposing a monetary penalty of ?84.50 lakh (Rupees Eighty four lakh fifty thousand only). The penalty has been imposed due to the bank’s failure to comply with specific provisions outlined in the ‘Reserve B...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 174

Income Tax exemption limit for leave encashment on retirement for salaried employees hiked to Rs 25 lakh
Posted Date : 26-May-2023 , 09:55:45 am | Posted By CASANSAAR

In line with the Budget announcement, the finance ministry on Thursday hiked the tax exemption limit for leave encashment upon retirement for private sector salaried employees to Rs 25 lakh. So far, the tax exemption on leave encashment for non-government employees was Rs 3 lakh which was fixed...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 477

SEBI asks all foreign funds to identify their parent financial institution
Posted Date : 26-May-2023 , 09:48:25 am | Posted By CASANSAAR

SEBI has asked all foreign funds investing in the country to identify their parent financial institution to help unravel opaque ownership structures, according to a letter seen by Reuters. The letter was sent by the Securities and Exchange Board of India (Sebi) to custodian banks, through which fund...

Continue Reading...

Category : SEBI | Comments : 0 | Hits : 201

10,000 Fraud GST Registrations turn up in first week of drive
Posted Date : 25-May-2023 , 07:38:29 am | Posted By CASANSAAR

Central and state goods and services tax officials have detected about 10,000 fake GST registrations in the first week of a joint drive. The officials are conducting door-to-door physical verification of addresses before initiating any action, people aware of details said. The campaign against fraud...

Continue Reading...

Category : GST | Comments : 0 | Hits : 2187

CBIC to launch additional disclosures from June 1 to fast-track clearances
Posted Date : 23-May-2023 , 08:31:25 am | Posted By CASANSAAR

The Customs Department is proposing to introduce additional disclosures for the export and import of medicinal products from June 1 to fast-track clearances of shipments. These additional disclosures, once introduced, will reduce queries of Customs officials, which are frequently posed to EXIM trade...

Continue Reading...

Category : Custom | Comments : 0 | Hits : 475

RBI Governor asks Public Sector Banks to Strengthen Governance
Posted Date : 23-May-2023 , 08:24:10 am | Posted By CASANSAAR

  Reserve Bank of India Governor Shaktikanta Das on Monday asked public sector banks to further strengthen their governance and risk management with a view to identify and mitigate risks at an early stage. The governor was addressing a Conference for the Directors on the Boards of Public ...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 262

NFRA Slapped Rs 5 lakh Fine and 5 Year Ban on Auditor for Lapses
Posted Date : 21-May-2023 , 11:07:57 am | Posted By CASANSAAR

The National Financial Reporting Authority (NFRA) on Friday slapped a fine of Rs 5 lakh and a five-year ban on Auditor (CA Rakesh Puri) for alleged professional misconduct in connection with the audit of Sun and Shine Worldwide Ltd (SSWL) for the financial years 2012-13 and 2013-14. Besides, Puri...

Continue Reading...

Category : NFRA | Comments : 0 | Hits : 2215

RBI Withdraws Rs. 2000 Notes from Circulation, Asks All to Exchange or Deposit
Posted Date : 20-May-2023 , 01:56:43 pm | Posted By CASANSAAR

THE RESERVE Bank of India (RBI) Friday announced the withdrawal of its highest value currency note, Rs 2,000, from circulation, adding that the notes will continue to be legal tender. It said the existing Rs 2,000 notes can be deposited or exchanged in banks until September 30, but set a limit of &l...

Continue Reading...

Category : General | Comments : 0 | Hits : 241

Annual Forex Spends up to Rs.7 lakh Exempted from TCS
Posted Date : 20-May-2023 , 08:29:24 am | Posted By CASANSAAR

Concerns have been raised about the applicability of Tax Collection at Source (TCS) to small transactions under the Liberalized Remittance Scheme (LRS) from July 1, 2023. To avoid any procedural ambiguity, it has been decided that any payments by an individual using their international Debit or Cred...

Continue Reading...

Category : International Business | Comments : 0 | Hits : 249

CBDT proposes changes to Rule 11UA in respect of ANGEL TAX- Also proposes to notify Excluded Entities
Posted Date : 19-May-2023 , 09:52:20 pm | Posted By CASANSAAR

In the Finance Act, 2023, an amendment has been introduced to bring the consideration received from non-residents for issue of  shares within the ambit of section 56(2)(viib) of the Income-tax Act, 1961(the Act), which provides that if such  consideration for issue of shares exceeds the Fa...

Continue Reading...

Category : CBDT | Comments : 0 | Hits : 259

Company Secretaries in Practice can act as Trade Marks Agent / IPR - ICSI
Posted Date : 19-May-2023 , 09:55:22 am | Posted By CASANSAAR

ICSI Council has allowed Company Secretaries in Practice to be registered and act as Trade Marks Agent / IPR Agent. In this regard, the Council of the Institute pursuant to the powers conferred under Clause (0 of Sub-Section (2) of Section 2 of the Company Secretaries Act, 1980 read with Regulati...

Continue Reading...

Category : ICSI | Comments : 0 | Hits : 331

20% TCS to be charged on Credit Card spends outside India
Posted Date : 19-May-2023 , 09:41:02 am | Posted By CASANSAAR

The ministry on May 16 notified the Foreign Exchange Management (Current Account Transactions) (Amendment) Rules, 2023, to include international credit card payments in the LRS. Any remittance beyond USD 2.5 lakh or its equivalent in foreign currency would require approval from the RBI. Earlier, ...

Continue Reading...

Category : International Business | Comments : 0 | Hits : 289

Business visit expenses borne by employer not covered under RBI's remittance scheme
Posted Date : 18-May-2023 , 09:38:55 pm | Posted By CASANSAAR

The finance ministry on Thursday said expenses incurred by an employee on a business visit, when such expenses are borne by the employer, will not be covered under RBI's liberalised remittance scheme. A clarification to this effect was provided in a set of FAQs issued by the finance ministr...

Continue Reading...

Category : RBI | Comments : 0 | Hits : 124

Union Cabinet Approves MoU between ICAI and CA Maldives
Posted Date : 18-May-2023 , 08:14:23 am | Posted By CASANSAAR

The Union Cabinet, chaired by the Hon'ble Prime Minister Shri Narendra Modi, approved the signing of Memorandum of Understanding between Institute of Chartered Accountants of India (ICAI) and The Chartered Accountants of the Maldives (CA Maldives). Details: ICAI and CA Maldives ai...

Continue Reading...

Category : ICAI | Comments : 0 | Hits : 534

Govt Panel may ready new list of Public Sector Banks for Privatisation
Posted Date : 17-May-2023 , 08:44:41 am | Posted By CASANSAAR

The government is likely to set up a panel of experts to prepare a list of Public Sector Banks (PSBs) that can be privatised, an Economic Times (ET) report said, quoting people aware of the developments. The centre is looking for ways to privatise PSBs as they have turned profitable and bigger, and ...

Continue Reading...

Category : Banking | Comments : 0 | Hits : 557

Banks request RBI for more time to implement new loan provisioning norms
Posted Date : 17-May-2023 , 08:05:20 am | Posted By CASANSAAR

Lenders have sought a one-year extension from the Reserve Bank of India (RBI) for implementation of the Expected Credit Loss (ECL)-based loan loss provisioning framework. In January this year, the RBI came out with a draft guidelines proposing adoption of expected credit loss approach for credit ...

Continue Reading...

Category : Banking | Comments : 0 | Hits : 170

Centre, States to initiate 2 Months Special Drive against Fake GST registration
Posted Date : 16-May-2023 , 07:56:52 am | Posted By CASANSAAR

A Special All-India Drive may be launched by all tax administrations to detect fake GSTINs and to conduct verification to weed out these fake billers from the GST ecosystem and to safeguard govt revenue. During this campaign, suspicious GST accounts will be identified, and counterfeit invoices wi...

Continue Reading...

Category : GST | Comments : 0 | Hits : 356

GST Dept to Get Access to Banking Transactions
Posted Date : 16-May-2023 , 07:47:38 am | Posted By CASANSAAR

Goods and Services Tax authorities are seeking near real-time access to banking transactions of the taxpayers, as a means to detect fake invoices and excess use of input tax credit (ITC) by sections of businesses. The move follows recent investigations that revealed that undue tax credits accumul...

Continue Reading...

Category : GST | Comments : 0 | Hits : 1807

RBI imposes Rs 2.9 Crore Penalty on Canara Bank
Posted Date : 13-May-2023 , 08:25:32 am | Posted By CASANSAAR

The Reserve Bank of India (RBI) on Friday, May 12, imposed a penalty of Rs 2.92 crore on Canara Bank for non-compliance with certain provisions of directions issued by the central bank. This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the val...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 851

J&K Bank Auditors Raise Red Flags in FY 2022-23 Accounts
Posted Date : 12-May-2023 , 06:10:05 pm | Posted By CASANSAAR

Statutory auditors of Jammu and Kashmir Bank have issued a qualified opinion on the lender’s accounts for the financial year 2022-23, raising red flags in the employee stock purchase scheme (ESPS). In accounting parlance, a qualified opinion means that financials are fairly represented but wit...

Continue Reading...

Category : Auditing | Comments : 0 | Hits : 540

ED Searches 2 former IL&FS Auditor Firms in connection with Money-Laundering Case
Posted Date : 12-May-2023 , 06:09:38 pm | Posted By CASANSAAR

ED carried out searches against two former auditor firms of IL&FS -- BSR and Associates and Deloitte Haskins and Sells  in connection with its money-laundering probe into alleged financial irregularities at the infrastructure development and finance company, official sources said. The pr...

Continue Reading...

Category : Auditing | Comments : 0 | Hits : 955

Former AGM of Punjab National Bank, 3 others get five-year jail term for bank fraud
Posted Date : 12-May-2023 , 06:09:06 pm | Posted By CASANSAAR

The Special Judge for CBI Cases, Hyderabad, on Tuesday sentenced former Assistant General Manager of Punjab National Bank, Banjara Hills, and three others, in a bank fraud case registered in February 2016. The court sentenced Mr.Garg, Jitender Kumar Agarwal, then MD of M/s. Sheetal Refineries Lim...

Continue Reading...

Category : Banking | Comments : 0 | Hits : 1460

GST Automated Returns Scrutiny Set to Roll Out
Posted Date : 10-May-2023 , 09:15:28 pm | Posted By CASANSAAR

Businesses will have to more careful while filing gst returns as the automated scrutiny system for the goods and services tax (GST) is about to use advanced artificial intelligence and data analytics to monitor mismatches. Expected to be rolled out over the next few days, the new system is expect...

Continue Reading...

Category : GST | Comments : 0 | Hits : 422

GSTN defers by 3 months implementation of e-invoice reporting time limit
Posted Date : 08-May-2023 , 07:43:51 am | Posted By CASANSAAR

GSTN has deferred by 3 months the implementation of time limit for businesses with turnover of over Rs 100 crore to upload their old e-invoices. Last month the GST Network had imposed a timeline for businesses with turnover of Rs 100 crore and above for uploading e-invoices on the Invoice Registr...

Continue Reading...

Category : GST | Comments : 0 | Hits : 350

Govt Mulls Size Threshold for Auditors of Large Companies
Posted Date : 07-May-2023 , 09:58:55 am | Posted By CASANSAAR

The Govt is examining whether to reserve auditing of large companies and public interest entities to audit firms of certain size, repute and technological prowess. Discussions in this regard, though at an early stage, are revolving around a graded approach to addressing the issue of inadequate audit...

Continue Reading...

Category : Auditing | Comments : 0 | Hits : 1790

News By Categories

More Categories

Search News


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

...keeps you updated


  |  News

  |  Articles

  |  Discussion

  |  CA Firms

 |  Members

 |  CA Community

 |  Jobs

 |  Empanelment

 |  Files

 |  Matrimonial

 |  Students zone

 |  Queries

 |  Classified Ads

 |  Events

 |  About us

 |   Top Members

 |  Coaching Centres

  | Testimonials

 | Judiciary

 | Videos

 | Notifications/Circulars

 | Book

 | eDirectory

 | Interview

 | Website

 | Emails

 | Software

 |  Score Board

 |   Press Release  

 |   Blood Bank  

  |   Opinion Poll  

  |   Feedback
 |   Advertise us

 |   Terms & Conditions

 |   Contact us
 |   Blog

  |   Sitemap

  |   Auditing

  |   Bank

  |   Bank branch audit

  |   Banking

  |   Black Money

  |   CA

  |   CA Announcement

  |   TDS

  |   Students Zone

  |   Custom

  |   VAT

  |   Service Tax

  |   Corporate Law

  |   General

  |   Excise

  |   SEBI

  |   Finance

  |   GST

  |   ICAI

  |   FEMA

  |   ICWAI

  |   ICSI

  |   DGFT

  |   RBI

  |   IFRS

  |   CAG

  |   Budget

  |   Merger & Acquisitions

  |   International Business

  |   Shares & Stock

  |   Excel Tips

  |   International Taxation

  |   ITR

  |   Chartered Accountant

  |   Tax Audit

  |   Companies Act

  |   Money Laundering

  |   MCA

  |   Income Tax Refund

  |   NPA

  |   Income tax software

  |   CST

  |   CA Exams

  |   CA Results

  |   CBDT

  |   Accounting Standards

  |   DIN

  |   Judical Announcement

  |   MDP

  |   PAN

  |   Whats App

  |   Secretarial Standards

  |   NGO

  |   CA Convocation

  |   Finance Bill

  |   ICAI Notification

  |   CARO


  |   Accounts

Follow Us : Twitter Icon Facebook Icon Orkut Icon Linkedin Icon Linkedin Icon
Developed By: CASANSAAR Copyright © casansaar

Top Accounting Firms,CA COMMUNITY,CA SANSAAR,Chartered Accountant,Ca Networking Firms,Partner Portal,Ca Assignments,CA,Online Communities For Chartered Accountant,Circle For Ca,CS,CMA and FINANCE,Articles By CA / CS / CMA,accounting news articles,Ca Firms In Delhi,CA ANNOUNCEMENT

accounting jobs,article trainees,best website creator,empanelment,income tax slab, ITR, TDS Chart,budget of india 2014-15,gst,auditing,Income tax,students zone,cpt,community matrimony for ca,Classified Ads,Community Matrimony For Ca,Students Zone,Coaching Classes,Company Secretary,Cost Accountant,Judiciary.