Friday, August 14, 2020

News Updates

Govt. takes Steps to reduce Incidence of Frauds in Banks

The Government has taken comprehensive steps to reduce the incidence of frauds in banks. The steps taken include, inter-alia, the following:Government has issued “Framework for timely detection, reporting, an investigation relating to large...

Income Tax Department to celebrate Aaykar Diwas 2019

The Central Board of Direct Taxes (CBDT) and all field offices will be observing and celebrating the 159th Income Tax Day i.e. AaykarDiwas on 24th July, 2019. It was on 24th July,...

ICMAI gets New President and Vice President

The Institute of Cost Accountants of India ( ICMAI ) has elected CMA Balwinder Singh and CMA Biswarup Basu as the new President and Vice President of the Institute. CMA Balwinder Singh is...

Purchase of Multiple Flats can’t be treated as a Single Transaction in TDS Statement: ITAT rejects Builders Plea [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT), while disposing of a bunch of appeals, held that a builder cannot treat the purchase of multiple flats as a single transaction...

DGGI Headquarters arrests one person for issuing Bogus Invoices without Supply of Goods

The Directorate General of GST Intelligence Hqrs. (DGGI Hqrs.) has arrested one person, namely, Shri Anupam Singla son of Shri Krishan Kumar Singla, permanent resident of Sirsa, Haryana, who had created about...

No Plan to make Foreign Language Course mandatory: ICAI

The Institute of Chartered Accountants of India ( ICAI ) has clarified that the Institute has no plan to make foreign language course mandatory for the chartered accountants and students. The had initiated...

RBI releases Draft Report of the Internal Working Group on Comprehensive Review of Market Timings

The Reserve Bank of India has released the draft report of the Internal Working Group on “Comprehensive Review of Market Timings”. Comments on the draft report are invited from market participants and other...

Chartered Accountant booked for aiding Trader in Export Fraud

A chartered accountant has been arrested in Mumbai for allegedly aiding and abetting a businessman in an export fraud of Rs 118 crore. The arrest was recorded by the prevention of smuggling...

Most Popular

SEBI notifies on Procedural Guidelines for Proxy Advisors

The Securities Exchange Board of India (SEBI) has notified the procedural guidelines for proxy advisors. According to SEBI (Research Analyst) Regulations, 2014,...