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Posted Date : 25-Feb-2015 , 08:30:45 am | Posted By CASANSAAR
14th Finance Commission (FFC) Report Tabled in Parliament; FFC Recommends by Majority Decision that the States’ Share in the Net Proceeds of the Union Tax Revenues be Raised to 42% Which is a Huge Jump from the 32% Recommended by the 13th Finance Commission Article 280 of the Co...
Continue Reading... Category : Budget | Comments : 0 | Hits : 349
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Posted Date : 24-Feb-2015 , 01:55:28 pm | Posted By CASANSAAR
Films today are not failing, budgets are. Producers are losing their monies in most movies, barring a few and the reason for that, of course, is the costs not being in line with the final box office numbers. While there are costs that add to the quality of the film, there are a few that are non-prod...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 1632
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Posted Date : 24-Feb-2015 , 08:21:59 am | Posted By CASANSAAR
With the implementation of the international reporting standards, sectors including infrastructure and financial services may be impacted while those related to manufacturing will not see much adverse impact, according to the institute of chartered accountants of India (ICAI). The newl...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 773
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Posted Date : 24-Feb-2015 , 08:20:39 am | Posted By CASANSAAR
Public sector bank employee unions Monday withdrew their call for a four-day nationwide strike, with the management agreeing to a 15 percent hike in wages at an extra burden of Rs 4,725 crore a year and acceding to the demand for holiday on second and fourth Saturdays. The banks, however, will work...
Continue Reading... Category : Bank | Comments : 0 | Hits : 911
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Posted Date : 24-Feb-2015 , 08:19:13 am | Posted By CASANSAAR
Manoj Fadnis, newly elected president of The Institute of Chartered Accountants of India (ICAI), said on Monday the setting up of a National Financial Reporting Authority (NFRA) should not be rushed. Its domain would overlap with ICAI in many ways and Fadnis, elected the latter's ...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 508
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Posted Date : 24-Feb-2015 , 08:06:28 am | Posted By CASANSAAR
Second and fourth Saturdays will henceforth be holidays for banks. The remaining Saturdays in a month will be full working days. This was one of the agreements arrived at the meeting of the Indian Banks' Association with associations of bank employees and staff in Mumbai on Monday. ...
Continue Reading... Category : Banking | Comments : 0 | Hits : 1094
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Posted Date : 23-Feb-2015 , 12:22:56 pm | Posted By CASANSAAR
The Auditing and Assurance Standards Board of the Institute of Chartered Accountants of India has today issued the Guidance Note on Audit of Banks 2015 edition. For the benefit of members, complete text of the Guidance Note and the contents of accompanying CD can be downloaded at: Guidance Note o...
Continue Reading... Category : Auditing | Comments : 0 | Hits : 846
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Posted Date : 23-Feb-2015 , 08:06:40 am | Posted By CASANSAAR
The budget session of Parliament is beginning today. The session will begin with President Pranab Mukherjee's address to members of both houses of Parliament. Meanwhile, the Government has sought cooperation from party leaders in both the Houses for smooth functioning of the session. Prime Mini...
Continue Reading... Category : Budget | Comments : 0 | Hits : 609
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Posted Date : 21-Feb-2015 , 10:23:58 pm | Posted By CASANSAAR
A cross platform messaging app, Whatsapp messenger, which allows user to send messages, now added the latest feature of voice calling. To get this feature, Android users need to update to the latest version and then find out a friend who already has the feature. After this, your friend, who has who ...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 1378
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Posted Date : 21-Feb-2015 , 01:23:14 pm | Posted By CASANSAAR
The nation-wide strike is to press for the wage-related demands of bankers. "Banks have been providing for a 15 per cent wage hike since November 2012. Thus, banks already have incorporated wage increase of 15 per cent into their accounting but their offering is 13 per cent only. "This is not acce...
Continue Reading... Category : Banking | Comments : 0 | Hits : 542
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Posted Date : 21-Feb-2015 , 09:17:31 am | Posted By CASANSAAR
CA Deepak Garg may be the next chairman of NIRC for the FY 2015-16. He has the support of more then seven Regional Council Members out of thirteen & Few CC Members are also in the support of CA Deepak Garg as per reliable sources. Next Week RC Members will elect new NIRC Chairman....
Continue Reading... Category : ICAI | Comments : 0 | Hits : 945
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Posted Date : 21-Feb-2015 , 09:01:04 am | Posted By CASANSAAR
The Institute of Cost Accountants of India (ICAI) and UK-based The Association of Chartered Certified Accountants (ACCA) today inked a pact to work towards co-operation in respect of professional training, education and examinations. The Memorandum of Understanding (MoU) will open new avenues f...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 784
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Posted Date : 21-Feb-2015 , 08:55:52 am | Posted By CASANSAAR
Indian Insurance Companies (Foreign Investment) Rules, 2015 Notified; Foreign Equity Investment Cap of 49 Per Cent Applicable to All Indian Insurance Companies; Foreign Direct Investment (FDI) Proposals up to 26 Per Cent of the Total Paid-Up Equity of the Indian Insurance Company Allowed o...
Continue Reading... Category : Finance | Comments : 0 | Hits : 383
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Posted Date : 20-Feb-2015 , 08:44:32 am | Posted By CASANSAAR
The government has launched a single window e-Biz portal for 11 Central government services to bring transparency and ease of doing business in the country. Launching the portal in New Delhi yesterday, Finance Minister Arun Jaitley said, the project will help in fostering the business environment in...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 890
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Posted Date : 20-Feb-2015 , 08:22:37 am | Posted By CASANSAAR
A panel, that includes Parliamentarians, will render advise to the Ministry of Corporate Affairs on "progressive use" of Hindi language. The 'Hindi Salahkar Samiti' would have members from the Lok Sabha, the Rajya Sabha as well as representatives from the voluntary organisatio...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 396
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Posted Date : 20-Feb-2015 , 07:41:45 am | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on 4th February 2015, Government has approved Eleven (11) proposals of Foreign Direct Investment amounting to Rs. 1075.91 croreapproximately. &nbs...
Continue Reading... Category : Finance | Comments : 0 | Hits : 919
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Posted Date : 19-Feb-2015 , 05:34:02 pm | Posted By CASANSAAR
The process of printing documents for the Budget 2015-16 began today with the ritual 'halwa ceremony', which was attended by Finance Minister Arun Jaitley in the North Block office. It has been a tradition which has continued for long. As part of the ritual, 'halwa' is prepared in a big 'kadhai...
Continue Reading... Category : Budget | Comments : 0 | Hits : 824
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Posted Date : 19-Feb-2015 , 08:19:53 am | Posted By CASANSAAR
ANNOUNCEMENTFOR ATTENTION OF THE MEMBERS Re: Use of Designation(s) other than the designation of “Chartered Accountant” It has been brought to the notice of the Institute that some members are using the certain designation (s) other than Chartered Accountant in addition to th...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 1462
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Posted Date : 19-Feb-2015 , 08:16:08 am | Posted By CASANSAAR
The Supreme Court today pulled up the Centre for "sitting over" for months on the recommendation of the Chief Justice of India for appointments in various tribunals including CAT, ITAT and NGT saying that litigants should not suffer due to vacancies in quasi judicial bodies. A bench of Justic...
Continue Reading... Category : General | Comments : 0 | Hits : 434
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Posted Date : 18-Feb-2015 , 08:36:04 am | Posted By CASANSAAR
Aspiring CAs will have to brush up their English and communication skills, prepare to explain themselves in written examinations and take courses in a few new papers as Institute of Chartered Accountants of India plans to revamp the syllabus of the course many already consider tough. The dr...
Continue Reading... Category : Students Zone | Comments : 0 | Hits : 1549
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Posted Date : 18-Feb-2015 , 08:20:06 am | Posted By CASANSAAR
The Indian Railways, Container Corporation of India (Concor), a navratna PSU, and 17 private companies, including the Adani group, are facing investigations for evasion of service tax to the tune of Rs 1,000 crore. Indian Railways and Concor along with a private company have even been slapped with ...
Continue Reading... Category : Service Tax | Comments : 0 | Hits : 871
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Posted Date : 18-Feb-2015 , 08:16:19 am | Posted By CASANSAAR
The Central Administrative Tribunal (CAT) has asked the government to allow a visually- impaired staffer to appear in an examination for promotion to the post of auditor, which was denied on the ground that the post was not suitable for the blind. A bench of CAT's judicial officer V Ajay Kumar ...
Continue Reading... Category : Auditing | Comments : 0 | Hits : 699
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Posted Date : 17-Feb-2015 , 10:01:04 pm | Posted By CASANSAAR
Tightening noose around the illegal entry operators, the Finance Ministry has detected routing of about Rs 250 croreblack money through fake entries via non-existent business entities. The modus operandi of providing 'accommodation entries by entry operators' was found by Central Eco...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 941
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Posted Date : 17-Feb-2015 , 09:53:22 pm | Posted By CASANSAAR
Department of Economic Affairs, Ministry of Finance launched here today a new upgraded and secure user friendly web site for filing and processing of applications for Foreign Direct Investment (FD) requiring Government approval. Presently the applications are filed online at www.fipbindia.com&n...
Continue Reading... Category : Finance | Comments : 0 | Hits : 399
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Posted Date : 17-Feb-2015 , 08:25:18 am | Posted By CASANSAAR
India-born Punit Renjen, chairman of the board of the Deloitte US member firm, has been named Deloitte Global’s new chief executive officer (CEO). He will assume the new role on June 1. Renjen succeeds Barry Salzberg, who will retire fromDeloitte Global and become a professor of pro...
Continue Reading... Category : International Business | Comments : 0 | Hits : 579
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Posted Date : 17-Feb-2015 , 08:16:43 am | Posted By CASANSAAR
Income Tax department is likely to file a case against HSBC bank, Geneva, for allegedly “abetting” tax evasion in India by way of unauthorisedly operating accounts of its citizens in its overseas branch. The department has come under fire after International Consortium of Invest...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 739
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Posted Date : 16-Feb-2015 , 08:41:20 am | Posted By CASANSAAR
Bank employees are threatened to go on a strike for four days from February 25-28, followed by an indefinite strike from March 16th. The announcement comes after wage negotiations talks, between the United Forum of Bank Unions (UFBU) and the Indian Banks Association (IBA), wa...
Continue Reading... Category : Banking | Comments : 0 | Hits : 886
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Posted Date : 14-Feb-2015 , 09:01:45 am | Posted By CASANSAAR
Eliminating currency risk for borrowers planning to raise foreign currency funds has turned a tad easier.The Reserve Bank of India has allowed greater flexibility for them in hedging offshore exposure by way of permitting residents to re-book any swap or derivative contract."It has been decided that...
Continue Reading... Category : RBI | Comments : 0 | Hits : 499
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Posted Date : 14-Feb-2015 , 08:56:10 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has clarified on the scope of disallowance on payments made to non-residents on which tax ought to have been withheld. It has now issued a clarificatory circular, which will help bring certainty in the law so as to avoid potential litigation, say tax...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 616
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Posted Date : 14-Feb-2015 , 08:50:08 am | Posted By CASANSAAR
The President of India, Shri Pranab Mukherjee has revoked the Order issued on February 16, 2014 under article 239AB of the Constitution in relation to the National Capital Territory of Delhi, with effect from February 14, 2015. The President has appointed Shri Arvind Kejriwal as the Chief Minis...
Continue Reading... Category : General | Comments : 0 | Hits : 351
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- NFRA Imposes Monetary penalty of Rs 1 Crore on M/s Dhiraj & Dheeraj
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- CBDT extends due date for filing Form 10A/10AB upto 30th June, 2024
- RBI comes out with FEMA regulations for direct listing on international exchange
- RBI directs payment firms to track high-value, fishy transactions during elections
- NCLT orders insolvency proceedings against Subhash Chandra
- Income Tax dept starts drive to dispose of appeals, 0.54 million at last count
- Payment of MCA fees –electronic mode-regarding
- Budget '11-12' Parliament Completes Approval Exercise
- Satyam restrained from operating its accounts
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- Maha expects Rs 15 crore entertainment tax revenue from IPL
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- No service tax on visa facilitators: CBEC
- Provision of 15-minutes reading and planning time allowance to the candidates of Chartered Accountants Examinations
- Companies Bill to be taken up in Monsoon Session
- File Service Tax Return in time as Maximum Penalty increased 10 times to Rs. 20000
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