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Posted Date : 21-Aug-2014 , 04:28:15 pm | Posted By CASANSAAR
Concerned over instances of corruption in the PSU banks, Finance Minister Arun Jaitley today said that government is taking steps to professionalise the management and help them strengthen their risk management system. "Professionalising the management of the banks, we have taken so...
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Posted Date : 21-Aug-2014 , 04:24:41 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) has tightened the norms for giving loans against shares by non-banking finance companies (NBFCs). NBFCs lending against collateral of shares have been told to maintain an LTV (loan-to-valve). They can accept only specified Group 1 securities as collateral for...
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Posted Date : 21-Aug-2014 , 03:54:49 pm | Posted By CASANSAAR
Pass Percentage & Toppers of of CA IPCC May / June 2014 Exams. ...
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Posted Date : 21-Aug-2014 , 09:25:55 am | Posted By CASANSAAR
The Income Tax Act provides Auditors a time frame of 180 days, from April 1 to Sept 30, to plan our schedule and utilization of resources to perform our duties as Tax Auditors accordingly. Then why and how the CBDT may deprive us from the time slot allowed under the Act, by making some amendmen...
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Posted Date : 21-Aug-2014 , 09:25:41 am | Posted By CASANSAAR
Revised Form 3CA-3CD & Form 3CB-3CD along with updated schema is now available for e-Filing. Revised Utility is is now available for e-Filing. (www.incometaxindiaefiling.gov.in) CBDT extended due date for furnishing Tax Audit report u/s 44AB of the Income Tax Act, 1961 for AY 2014-...
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Posted Date : 21-Aug-2014 , 08:48:24 am | Posted By CASANSAAR
ICAI IPCC 2014 May/ June 2014 Examination results will be out today at the official website of ICAI. All the candidates who had written Chartered Accountant Intermediate / IPC or Integrated Professional Competence Course May / June 2014 examination can check the results today at 4.00 PM at the offic...
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Posted Date : 21-Aug-2014 , 08:44:06 am | Posted By CASANSAAR
The Finance Ministry has ordered a forensic audit after reports of misappropriation of funds worth Rs. 436 crore at the branches of Dena Bank and Oriental Bank of Commerce. Dena Bank was trading down 4 per cent at Rs. 60.70 on the BSE at 2.20 pm. Similarly...
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Posted Date : 21-Aug-2014 , 08:11:24 am | Posted By CASANSAAR
The Cabinet today at the meeting chaired by the Prime Minister, Shri Narendra Modi gave its approval for Digital India – A programme to transform India into digital empowered society and knowledge economy. This is a follow up to the key decisions taken on the design of the programme...
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Posted Date : 21-Aug-2014 , 08:10:35 am | Posted By CASANSAAR
The Ministry of Finance is in the process of strengthening the regulatory framework of the commodity derivative markets for some time. As part of this process, greater empowerment of Forward Markets Commission (FMC), the market regulator is also being done. Accordingly, a need was felt to stren...
Continue Reading... Category : Shares & Stock | Comments : 0 | Hits : 326
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Posted Date : 20-Aug-2014 , 07:30:30 pm | Posted By CASANSAAR
F.No.133/24/2014-TPL GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF DIRECT TAXES) Room No. 147 B-II, North Block New Delhi, the 20th August, 2014 Order Under Section 119 of the Income-tax Act, 1961 In exercise of power conferred by section 119 of ...
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Posted Date : 20-Aug-2014 , 08:33:53 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) issued a notification (33/2014) on 25 July 2014 for amending forms 3CA, 3CB and 3CD. For chartered accountants (CAs), who have already finalised their audits and filed report online and had the same confirmed online by the auditee before 25 July 2014, there i...
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Posted Date : 20-Aug-2014 , 08:09:03 am | Posted By CASANSAAR
The rate of growth of personal income tax collections during 2013-14 was nearly double that of the corporate tax mop-up. The growth in corporate tax collection was so low that it lagged behind even the Gross Domestic Product (GDP). Finance Ministry data shows that individuals paid 20.51 per...
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Posted Date : 20-Aug-2014 , 07:52:03 am | Posted By CASANSAAR
Market regulator Sebi has proposed that all listed companies should intimate within 15 minutes of closure of the board meetings about decisions on dividends, bonus, fund raising and buyback, among others.The move is part of Sebi's effort to ensure 'timely and adequate' disclosures by listed companie...
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Posted Date : 19-Aug-2014 , 08:00:06 pm | Posted By CASANSAAR
Corporate Affairs Ministry officials are likely to brief Arun Jaitley tomorrow about the implementation of the New Companies law. Jaitley holds the portfolios of Corporate Affairs, Finance and Defence. In the recent weeks, many changes have been made to various rules of the Companies Act...
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Posted Date : 19-Aug-2014 , 08:41:25 am | Posted By CASANSAAR
Auditors have once again been thrust into the spotlight, with fresh penalties meted out Monday against one firm as such “gatekeepers” come under increased scrutiny in the United States and Canada. New York’s Department of Financial Services took aim at PriceWaterhouseCoope...
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Posted Date : 19-Aug-2014 , 08:36:58 am | Posted By CASANSAAR
India's indirect taxes body, the Central Board of Excise and Customs (CBEC) could start monitoring power consumption and payments towards valueadded tax in states as it proposes to use information from third-party sources to nab tax evaders. The plan draws heavily from income tax authorities an...
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Posted Date : 18-Aug-2014 , 08:26:11 pm | Posted By CASANSAAR
The audit committee meeting of a company for consideration of consolidated financial statement cannot be conducted through video conferencing or other audio visual means, according to new rules. In this regard, changes have been made to rules under the Companies Act, 2013. "... for the words 'cons...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 508
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Posted Date : 18-Aug-2014 , 04:48:54 pm | Posted By CASANSAAR
Lenders to Bhushan Steel Ltd have decided to conduct a forensic as well as a concurrent audit to monitor the company’s cash flows as they move to protect their interests in the company. The bankers have also decided to appoint three nominee directors on the board of Bhushan Steel to represent...
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Posted Date : 18-Aug-2014 , 01:04:14 pm | Posted By CASANSAAR
We have no news of release of TAR Utility Schema neither to postpone it so far, hampering tax audit work to a stand still all over India. No Tax audit is possible to be executed since 25th of July, due to CBDT unplanned Notification No. 33/2014 dtd 25.7.2014. This is height of our patience and causi...
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Posted Date : 17-Aug-2014 , 08:25:04 pm | Posted By CASANSAAR
Ever since the Supreme Court gave itself the absolute power to appoint judges by making what was arguably a colourable interpretation of the constitutional mandate in this regard, there has been a clamour for defanging the judiciary, as it were. The result - the Constitution Amendment Bill moved in ...
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Posted Date : 17-Aug-2014 , 07:49:49 pm | Posted By CASANSAAR
Amid continuing difficulties in airline space to generate profits and raise funds, independent auditors of at least two Indian carriers have raised red-flags over their 'going concern' status claims. Typically, a company is known as a 'going concern' if it has sufficient resources to contin...
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Posted Date : 17-Aug-2014 , 07:34:30 pm | Posted By CASANSAAR
IDBI Bank has started the process of declaringKingfisher Airlines a "wilful defaulter". The airline owes the bank Rs 750 crore. IDBI is among a consortium of banks which has lent money to the beleaguered airline. Kingfisher is the country's top loan defaulter with banks having an exposure ...
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Posted Date : 16-Aug-2014 , 10:33:50 am | Posted By CASANSAAR
Top 50 non-performing asset (NPAs) cases in the banking sector are being closely monitored by both finance ministry and the banks that have been defaulted by the corporate houses such as Kingfisher Airlines. The finance ministry has indicated that in case of evidence of fraud, criminal acti...
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Posted Date : 16-Aug-2014 , 10:30:17 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) has made it mandatory for BCom graduates from the University of Mumbai to have an overall pass percentage of 54.5 per cent in all the six semesters of their commerce studies to be eligible for direct entry to the CA course. The move has been pro...
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Posted Date : 14-Aug-2014 , 07:54:08 pm | Posted By CASANSAAR
The Reserve Bank of India on Thursday said the number of mandated free transactions for savings bank account holders at other bank ATMs located in six metro centres has been reduced from five to three per month. The six metro centres -- Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyd...
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Posted Date : 14-Aug-2014 , 03:53:27 pm | Posted By CASANSAAR
The Rajya Sabha passed the National Judicial Appointments Bill and the Constitution (121st Amendment) Bill, 2014 on Thursday. 177 members voted in favour of the Judicial Appointments Bill with three members voting against it, while 176 members voting in favour of the Constitution Amendment ...
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Posted Date : 14-Aug-2014 , 08:32:13 am | Posted By CASANSAAR
Despite public sector banks facing a manpower crunch, the finance ministry has asked them not to recruit officers through campus placements. “Recruitment of officers in public sector banks against permanent direct recruitment vacancies by resorting to campus recruitment/interview meth...
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Posted Date : 14-Aug-2014 , 08:23:11 am | Posted By CASANSAAR
The finance ministry has ruled out the proposal for the appointment of a chief operating officer (COO) of the rank ofdeputy governor in the Reserve Bank of India (RBI), as the government feels no interim arrangements should be made for such high-profile appointments. There ...
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Posted Date : 14-Aug-2014 , 08:21:27 am | Posted By CASANSAAR
Auditors have red flagged SAIL's accounting procedure relating to its Rourkela plant, alleging that this has led to the state-run steel maker overstating profits by Rs 133.66 crore last fiscal, a charge strongly refuted by the firm. In a note with first quarter results, SAIL said auditors i...
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Posted Date : 13-Aug-2014 , 10:51:49 pm | Posted By CASANSAAR
Petrol price will be cut by Rs 1.89-2.38 per litre from August 15, Oil Minister Dharmendra Pradhan announced on Wednesday. In perhaps for the first instance of a minister announcing the reduction in price of a petrol which was deregulated or freed from government control in June 2...
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- Income Tax Dept serves notices to salaried individuals for documentary proof to claim exemptions
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- NFRA Imposes Monetary penalty of Rs 1 Crore on M/s Dhiraj & Dheeraj
- ICAI notifies earlier announced CA exam dates despite pending legal challenge before SC
- NFRA debars Auditors, imposes Rs 50 lakh penalties for lapses in Brightcom, CMIL cases
- GST Important Update - Enhancement in the GST Portal
- NFRA Slaps Rs 5 lakh Penalty on Audit Firm for lapses in Vikas WSP Audit Case
- 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
- ICICI a foreign firm, subject to FDI norms: Govt
- Maha expects Rs 15 crore entertainment tax revenue from IPL
- CAG blames PMO for not acting against Kalmadi
- 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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