An articulate ex-banker and a chartered accountant by training, Piyush Goyal is particular about numbers.
Finance Minister Nirmala Sitharaman on Monday said technical glitches in the new income tax e-filing portal will be largely fixed in the next few days and that she has been constantly reminding Infosys about the issue. "I have been reminding Infosys (the vendor which developed the new portal) constantly, and (Infosys head) Nandan Nilekani has been messaging me with assurances that next couple of days they will sort out majority of problems," she said. To a large extent, the system is far better than what it was in June but still some issues are there, she said.
From FY18, Ind-AS will be mandatory for all listed entities, barring those listed on the SME platform.
ICAI has also imposed a fine of Rs 5 lakh on each of the three accused in Satyam case.
Defence Minister Rajnath Singh on Friday said that he wanted to join the Army but could not due to difficulties in his family.
Management accountants are the conscious keepers of an organisation, says Charles Tilley, chief executive officer, Chartered Institute of Management Accountants (CIMA), UK. In conversation with Business Standard, he highlights how the profession of a cost accountant has evolved over the years to be known as management accountancy.
Mahesh Londhe, son of a Pune bhel vendor cleared CA in first attempt. Londhe, who was sponsored by Thermax CEO MS Unnikrishnan, now wants to take up a corporate job in a manufacturing firm
Guterres urged members of the Security Council to press to avert a humanitarian catastrophe and appealed for a humanitarian ceasefire to be declared.
I am increasingly seeing young people starting 25-year-SIPs; these kids will definitely benefit from the long term effect of compounding, notes P V Subramanyam.
Ruia, a chartered accountant whose business ranged from sugar to textiles and heavy engineering to tyres, refused to comment on queries about his interest in Air India.
Indian charitable trusts, including Tata Trusts and top corporate donors, are stumped by a new tax law proposed in the Budget, which reduces tax breaks for the donor organisations. The Finance Bill proposes that if a charitable organisation donates to another charity, then only 85 per cent of the donation will be considered as application of income for the donor organisation. Trust officials say this is a major setback for the donor organisations, including corporate foundations and intermediary organisations, which work with various implementing agencies at the grassroots level.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Recorded versions or bhajans being recited by those present at the temples were played out at around 5 am to counter the morning azaan being recited on the loudspeakers.
Policies to address CAD has worked well believes the bank's economists.
Don't forget to ask for quarterly audited statement of transactions in your account. This will make it easier for you to calculate your tax liability and pay it on time.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The big four global accountancy firms -- PricewaterhouseCoopers, KPMG, Ernst & Young and Deloitte -- are circumventing laws to provide auditing services in the country, says a report of an Institute of Chartered Accountants of India's committee.
Six Himachal Pradesh Congress MLAs who voted against party nominee Abhishek Manu Singhvi in the Rajya Sabha elections, along with three Independent lawmakers, have shifted to a hotel in Bharatiya Janata Party-ruled Uttarakhand amid an ongoing rebellion against Chief Minister Sukhvinder Singh Sukhu.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Premises of former Karnataka chief minister B S Yediyurappa's close aide Umesh were among those raided by Income Tax sleuths in the State on Thursday.
The Supreme Court on Wednesday agreed to hear on March 24 a plea by K Kavitha, Bharat Rashtra Samithi leader and daughter of Telangana Chief Minister K Chandrasekhar Rao, seeking protection from arrest and challenging the summons by the Enforcement Directorate in a money laundering case arising out of the alleged Delhi excise policy scam.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Many direct taxation rules lack clarity and the rulings on these also differ from case to case.
"The two sides note that the relationship between Russia and China has progressed to a more advanced interstate cooperation compared to the military-political unions of the Cold War era as it is not bloc or confrontational in nature, nor does it target any third countries," Russia's new agency Tass quoted the document as saying.
Election Commission is considering an overhaul of the accounting practices of parties.
A week after the Income Tax Department's much publicised new e-filing portal went live, users continued to face technical glitches ranging from longer than usual logging time, inability to respond to notices and not all features functioning yet, chartered accountants said on Monday. The new portal, "http://www.incometax.gov.in/"www.incometax.gov.in, was launched last Monday (June 7), which the tax department as well as the government said was aimed at making compliance more taxpayer-friendly. But users complained of technical issues facing the site from the very first day and not everything has been fixed even after a week, chartered accountants (CAs) said, adding that taxpayers are unable to view past e-filed returns and many features/ facilities continue to be marked 'coming soon'. Finance Minister Nirmala Sitharaman herself had asked Infosys - the vendor which created the portal - and its Chairman Nandan Nilekani to fix the technical glitches.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
'Modi has sowed the seeds of a transformational change.' 'For the sake of the nation and our children I hope he succeeds.'
The Central Bureau of Investigation on Thursday night arrested a Mumbai-based chartered accountant and two government officials for allegedly selling confidential documents related to foreign investment policy to corporate groups after it carried out searches in offices of Finance and Commerce Ministries in New Delhi and in Mumbai.
We asked our readers How to avoid trouble in the UK in the wake of the murder of Indian student Anuj Bidve in Salford, Greater Manchester on December 26. Here's Aruni Mukherjee's response.
The issue relates to alleged Rs 870-crore (Rs 8.7-billion) financial fraud at the company last year.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Markets regulator Sebi has empanelled as many as 16 entities -- including BDO India, Ernst & Young and Deloitte Touche Tohmatsu India -- for conducting forensic audits of financial statements of listed companies as part of efforts to curb frauds. The other empanelled entities are -- Chaturvedi & Co, Chokshi & Chokshi LLP, Grant Thornton Bharat LLP, Haribhakti & Co. LLP, KPMG Assurance And Consulting Services LLP, Mukund M Chitale & Co and Protiviti India Member Pvt Ltd, according to a public notice. In addition, Rajvanshi & Associates, Ravi Rajan & Co LLP, SKVM & Company, Suresh K Jha & Co, T R Chadha & Co LLP and V Singhi & Associates have been selected to conduct the forensic audits, it added.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
While one can file an updated return, there are certain caveats, warns rediffGURU Mihir Tanna.
The stars and their parents attend a Luka Chuppi screening.
More than 60 people from Gujarat on board the Nicaragua-bound plane, which was sent back from France over suspected human trafficking, had agreed to pay Rs 60 lakh to Rs 80 lakh to immigration agents, who promised to cross into the US illegally after reaching the Latin American country, officials said.
The Institute of Chartered Accountants of India had issued show-cause notice to Bhagat, who sought time till March 31 to give his response.
Shanti Ekambaram, president of consumer banking at Kotak Mahindra Bank, talks about her success mantras, career and money management lessons she learnt, work-life balance for working moms and what India's youth should aspire for.
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