Shares can be transferred in demat form only from 1st April - SEBI
Posted Date : 28-Mar-2019 , 08:59:24 am | Posted By CASANSAAR
SEBI said transfer of shares of listed companies can be done only in the dematerialised form from April 1 but investors are not barred from holding shares in the physical form.
In December 2018, the watchdog extended the deadline for transfer of shares of listed companies only in dematerialised (...
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SEBI |
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Income Tax Dept will compile profiles on taxpayers from 1st April
Posted Date : 26-Mar-2019 , 10:32:21 pm | Posted By CASANSAAR
The Income-Tax (I-T) Department will begin compiling comprehensive profiles on taxpayers from April 1, according to a Business Standard report. The move, which is a part of Project Insight, aims to track compliance of tax paying individuals and bring more people under the tax net, the paper said.
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Income Tax |
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SC takes strong note of non-disclosure of banks' inspection reports by RBI
Posted Date : 27-Mar-2019 , 08:53:38 am | Posted By CASANSAAR
The Supreme Court Tuesday took strong note of non-disclosure of the annual inspection report of banks by the RBI under the Right to Information Act.
A bench comprising justices L N Rao and M R Shah said it may initiate contempt proceedings against the Reserve Bank Of India (RBI) for not disclosin...
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RBI |
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IDBI Bank Officers’ Association to go on hunger strike on March 30
Posted Date : 26-Mar-2019 , 07:46:49 pm | Posted By CASANSAAR
IDBI Bank on Tuesday said its all-India Officers’ Association will observe a one-day nationwide hunger strike on March 30, over various demands.
“The Bank is in receipt of notice of one-day nationwide hunger strike on March 30, 2019 from All India IDBI Officers’ Association (AII...
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Banking |
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RBI slaps Rs 2 crore penalty on PNB
Posted Date : 26-Mar-2019 , 07:07:09 pm | Posted By CASANSAAR
The Reserve Bank of India has slapped a penalty of Rs 2 crore on Punjab National Bank for non-compliance of regulatory directions with regard to SWIFT operations.
SWIFT is a global messaging software used for sharing information on inter-bank transactions by financial entities.
In ...
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RBI |
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Over 12,000 cases filed after implementation of IBC
Posted Date : 26-Mar-2019 , 10:26:18 am | Posted By CASANSAAR
As many as 12,000 cases have been filed since the implementation of the Insolvency and Bankruptcy Code (IBC) and setting up of the National Company Law Tribunal (NCLT), a senior government official said on Monday.
Asserting that the code should be the last resort, Corporate Affairs Secretary Inje...
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Insolvent Professional |
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Karnataka Bank reports Rs 13 Cr fraud to RBI
Posted Date : 25-Mar-2019 , 08:52:33 am | Posted By CASANSAAR
Karnataka Bank on Saturday said it has reported to regulator RBI about a fraud amounting to Rs 13.26 crore in the fund-based working capital facility extended to SRS Finance Ltd.
The fraud was on account of "diversion of funds", the lender said in a BSE filing.
The bank e...
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Banking |
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Foreign investors to pay higher taxes starting from April 1
Posted Date : 25-Mar-2019 , 08:38:56 am | Posted By CASANSAAR
Changes in the Sebi listing and prevention of insider-trading regulations, revisions in the double-taxation avoidance agreements (DTAAs) with Mauritius and Singapore are set to come into effect from April 1.
The changes in DTAAs give India the right to tax capital gains arising on Indian equity s...
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Income Tax |
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RBI again defers Indian Accounting Standards implementation by banks
Posted Date : 23-Mar-2019 , 10:22:46 am | Posted By CASANSAAR
The Reserve Bank on Friday again deferred the implementation of the Indian Accounting Standards (Ind AS) by banks as the requisite legislative amendments are still under consideration.
Earlier in April 2018, the central bank had postponed the implementation of the Indian Accounting Standards (Ind...
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RBI |
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I-T department, other tax agencies can initiate insolvency resolution process - NCLAT
Posted Date : 22-Mar-2019 , 05:48:14 pm | Posted By CASANSAAR
The Income Tax department of the central government, the sales tax department of the state government and other local authorities “who are entitled for dues arising out of the existing law” can now initiate corporate insolvency resolution process against such companies who owe them the d...
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Insolvent Professional |
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Govt extends IGST, compensation cess exemption under various export promotion plans
Posted Date : 22-Mar-2019 , 05:41:26 pm | Posted By CASANSAAR
Giving relief to exporters, the government has extended IGST (Integrated Goods and Service Tax) and compensation cess exemptions for goods procurement under certain export promotion schemes till March 2020.
These exemptions have been extended for exporters buying inputs domestically or impo...
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GST |
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Decisions taken by the GST Council in the 34thmeeting held on 19th March, 2019
Posted Date : 20-Mar-2019 , 07:25:45 am | Posted By CASANSAAR
GST Council in the 34th meeting held on 19th March, 2019 at New Delhi discussed the operational details for implementation of the recommendations made by the council in its 33rd meeting for lower effective GST rate of 1% in case of affordable houses and 5% on construction of houses other than afford...
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GST |
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IBBI signs Memorandum of Understanding with SEBI
Posted Date : 19-Mar-2019 , 12:04:10 pm | Posted By CASANSAAR
The Insolvency and Bankruptcy Board of India (IBBI) signed a Memorandum of Understanding (MoU) today with the Securities and Exchange Board of India (SEBI). The MoU was signed by Mr. Anand Baiwar, Executive Director of the SEBI and Mr. Ritesh Kavdia, Executive Director of the IBBI at Mumbai.
2. T...
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Insolvent Professional |
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GST council approves transition plan for new GST rates on residential properties
Posted Date : 19-Mar-2019 , 05:29:28 pm | Posted By CASANSAAR
GST council today approved a transition plan for new goods and services tax rates on residential properties under which developers of under-construction buildings may either opt to shift to the revised lower rates without input tax credit or stick to the previous rates.
Revenue Secretary Ajay Bhu...
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GST |
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GST rates for new projects to be mandatory from April 1 - Revenue Secretary
Posted Date : 19-Mar-2019 , 03:41:34 pm | Posted By CASANSAAR
The GST Council on March 19 approved the transition plan for new GST tax structure for residential plots.
"The new rate is 5% without tax credit or 1% without input tax credit. All buildings that begin work from April 1 will have to adhere to these new rates," said Revenue Secretary Aja...
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GST |
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Nine members appointed in Appellate Authority to handle cases against CA, CS
Posted Date : 19-Mar-2019 , 04:05:13 am | Posted By CASANSAAR
Even as an increasing number of complaints flood in concerning professional misconduct by chartered accountants (CA), company secretaries (CS) and cost accountants, the government has appointed a nine-member Appellate Authority to hear such cases. The new members include Anand Mohan Bajaj, Joint Sec...
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NFRA |
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RBI urges banks to closely watch end use of funds via surveillance
Posted Date : 19-Mar-2019 , 09:15:46 am | Posted By CASANSAAR
The RBI is pushing banks to tighten the process of monitoring the end use of funds through enhanced surveillance as it seeks to arrest evergreening and prevent divergence of funds by corporate borrowers.
Senior bank executives said the urgency from the RBI has been heightened after the annu...
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RBI |
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Justice PC Ghose set to be named India's 1st Lokpal
Posted Date : 18-Mar-2019 , 08:14:58 am | Posted By CASANSAAR
Almost 50 years after the Lok Sabha first passed a Lokpal bill and more than five years after a popular anti-corruption movement led to the passage of the legislation in its latest form, retired Supreme Court judge Justice Pinaki Chandra Ghose is set to be India's first anti-corruption ombudsman...
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Finance |
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Govt to soon start selection process for new PFRDA Chairman
Posted Date : 18-Mar-2019 , 08:11:20 am | Posted By CASANSAAR
The government will soon start selection process for a new chairman of pension fund regulator PFRDA to succeed the present chief, Hemant G Contractor, whose term is slated to end in April. "The Finance Ministry will soon come out with an advertisement to find a successor to head the Pension Fun...
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Finance |
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RBI issues guidelines to prevent market abuse
Posted Date : 16-Mar-2019 , 08:59:03 am | Posted By CASANSAAR
The Reserve Bank of India has come out with guidelines to prevent misuse of price-sensitive information by participants in markets for financial instruments.
The RBI said market participants, either acting independently or in collusion, shall not undertake any action with the intention to manipul...
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RBI |
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Companies may pass on GST benefits to consumers by increasing grammage
Posted Date : 16-Mar-2019 , 08:52:15 am | Posted By CASANSAAR
The National Anti-Profiteering Authority (NAA) Friday said companies are free to offer volume benefit or price reduction to consumers, in the wake of rationalisation of GST rates.
To evaluate cases of GST benefits, the NAA has decided to look into three yardsticks - proportionate grammage increas...
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GST |
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RBI categorises IDBI Bank as private sector lender
Posted Date : 15-Mar-2019 , 08:27:24 am | Posted By CASANSAAR
IDBI Bank has been categorised as a private sector lender following acquisition of majority stake by Life Insurance Corporation, RBI said.
In January, LIC completed the process of picking up a controlling 51 per cent stake in the nearly crippled IDBI Bank.
"IDBI Bank has been categorised ...
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Income Tax |
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UDIN Being Made Mandatory in 2nd Phase for GST & Tax Audit Reports - ICAI
Posted Date : 14-Mar-2019 , 05:43:22 pm | Posted By CASANSAAR
UDIN BEING MADE MANDATORY IN 2nd PHASE FOR GST & TAX AUDIT REPORTS
You may be aware that Unique Document Identification Number (UDIN) has been made mandatory as per the Council decision taken at its 379th Meeting held on 17th – 18th December, 2018 in the following phases:
All Certifi...
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ICAI |
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EC gives a nod to GST Council meeting scheduled on March 19
Posted Date : 14-Mar-2019 , 06:43:21 am | Posted By CASANSAAR
The Election Commission has given approval for holding the upcoming GST Council meeting on March 19 to consider various issues including the implementation of lower GST rates for the real estate sector.
The next meeting will be held through videoconferencing, sources said.
Foll...
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GST |
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Taxpayers can compare tax liability declared in final, summary GST returns forms - GSTN
Posted Date : 13-Mar-2019 , 09:57:28 am | Posted By CASANSAAR
The GST Network on Tuesday said businesses registered under GST can now compare the tax liability declared as well as input tax credit claimed in their final and summary sales returns forms.
The GSTN, which handles the technology backbone for the new indirect tax, has provided a facility to the t...
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GST |
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GST Council to meet on 19 March to finalise real estate tax structure
Posted Date : 12-Mar-2019 , 09:35:22 am | Posted By CASANSAAR
In a first-of-its-kind meeting of a federal forum in the midst of the code of conduct of general elections, the Goods and Services Tax (GST) Council is scheduled to meet on March 19 to finalise guidelines to support the changed tax rate structure for underconstruction houses.
This would be the on...
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GST |
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Re-Constitution of Insolvency Law Committee for review of implementation of IBC 2016
Posted Date : 12-Mar-2019 , 09:20:13 am | Posted By CASANSAAR
he provisions relating to insolvency resolution for corporate persons (Part II of the Insolvency and Bankruptcy Code, 2016), regulation of insolvency professionals, agencies, information utilities and establishment of the Insolvency and Bankruptcy Board of India (the Board) (Part IV of the Code) and...
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Insolvent Professional |
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CA Exams Rescheduled due to General Elections - ICAI
Posted Date : 11-Mar-2019 , 03:24:31 pm | Posted By CASANSAAR
It is hereby notified for general information that in view of Elections to the 17th Lok Sabha Parliamentary Constituencies across the country, the Chartered Accountant Examinations initially scheduled from 2nd May 2019 to 17th May 2019 stand rescheduled and the said examinations shall now be held fr...
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CA Exams |
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Bank Branch Statutory Audit Updates 2019
Posted Date : 11-Mar-2019 , 10:19:08 am | Posted By CASANSAAR
Bank Branch Statutory Audit Updates
Panel of Statutory Bank auditors received by various banks.
Mails received from following banks as confirmed by Members :-
Allahabad Bank
Andhra Bank
Bank of Baroda
Bank of Maharashtra
Bank of India
(www.casansaar.com)
Canara Bank
Centr...
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Bank Branch Audit |
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22 | Hits : 57351
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Operational creditors benefits equally from IBC - IBBI
Posted Date : 11-Mar-2019 , 09:25:33 am | Posted By CASANSAAR
The Insolvency and bankruptcy Board of India (IBBI) on Saturday said both operational and financial creditors have benefited alike from resolutions under the IBC.
IBBI chairman M S Sahoo said that it would be unfair to say that resolutions under the Insolvency and Bankruptcy Code (IBC) were tilte...
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Insolvent Professional |
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