CAclubindia News

ICAI issues mandatory KYC norms for its members

12 December 2016 at 11:28

ANNOUNCEMENT OF KYC NORMS All the members of Institute of Chartered Accountants of India (ICAI), who are in practice, are hereby informed that the Council has formulated the Know Your Client (KYC) norms at it’s 356th Meeting held on 29th, 30th

Posted in Community & General | 3 comments | 13377 Views

Finance ministry directs all banks to maintain record of old and new currency deposit

12 December 2016 at 11:28

The Ministry of Finance through a letter to all the MDs &CEOs/CMDs of PSBs and Chairman, IBA directs that all the bank branches in the country be alerted to reflect correctly the cash deposit in old and new currency and inform the customers about

Posted in Income Tax | 3516 Views

Exemption withdrawn for usage of Rs 500 old notes at railways

10 December 2016 at 15:42

Government withdraws exemptions given for the use of Rs.500/- old notes, from the mid night of December 9, 2016, for making payments at railway ticketing counters, ticket counters of Government or Public Sector Undertakings buses for purchase of tick

Posted in Community & General | 2 comments | 2523 Views

Direct tax collection grows to 4.12 lakh crore till Nov

10 December 2016 at 15:42

Direct Tax Collections up to November, 2016 show net collections at Rs. 4.12 lakh crore which is 15.12% more than the net collections for the corresponding period last year

Posted in Income Tax | 3540 Views

ICAI submits Pre-Budget Memoranda-2017

10 December 2016 at 15:42

ICAI submits Pre-Budget Memoranda-2017 PFA the file to know in details

Posted in Professional Resource | 2 comments | 2868 Views

Seizure of Rs 106 crore Cash and 127 kg Gold in Chennai

10 December 2016 at 15:42

Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesSeizure of Rs. 106.52 crore Cash and 127 kg Gold in the case ofSand mining Contractors at Chennai by the Income Tax DepartmentThe Investigation Directorate of Inc

Posted in Income Tax | 4 comments | 3879 Views

ICAI advises CAs to watch the national interest as uppermost while advising client in the backdrop of Demonetisation

09 December 2016 at 18:31

December 9, 2016ANNOUNCEMENTFor attention of MembersDemonetisation Policy announced by Government of India- An Advisory for Members As you may be aware, the ICAI has always been supportive of the bold initiatives taken by the Government in strengthen

Posted in Community & General | 8 comments | 10485 Views

11 incentives given by Govt for promotion of digital and cashless economy

09 December 2016 at 11:07

In the aftermath of the cancellation of the legal tender character of old Rs.500 and Rs.1,000 notes, there has been a surge in the digital transactions through use of credit/debit cards and mobile phone applications/e-wallets etc. To further accelera

Posted in Income Tax | 6 comments | 13197 Views

Rs 427684 crore issued to public since demonetisation by banks

09 December 2016 at 10:52

Activity at Banks during November 10 to December 7, 2016Consequent to the announcement of withdrawal of Legal Tender status of banknotes of ₹ 500 and ₹ 1000 denominations from the midnight of November 8, 2016, the Reserve Bank of India made arrangeme

Posted in Community & General | 2 comments | 2601 Views

Innovative Methods of Laundering and Transportation of Cash found by Income tax department

09 December 2016 at 10:51

Income Tax Sleuths Unearth Innovative Methods of Laundering and Transportation of Cash at Mumbai, Nagpur and Ahmedabad Income tax investigations atMumbailed to the revelation of a syndicate of ground level operators active in converting banned curren

Posted in Income Tax | 4125 Views