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Posted Date : 06-Jan-2014 , 08:46:02 am | Posted By CASANSAAR
The capital market regulator SEBI has said that National Securities Clearing Corporation Ltd (NSCCL), Indian Clearing Corporation Ltd (ICCL) and MCX-SX Clearing Corporation Ltd (MCX-SXCCL) are the only qualified central counterparties (QCCPs) in the Indian securities market. The three corpo...
Continue Reading... Category : Shares & Stock | Comments : 0 | Hits : 280
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Posted Date : 06-Jan-2014 , 08:39:18 am | Posted By CASANSAAR
Terming the existing taxation structure as a "burden", BJP's prime ministerial candidate Narendra Modi on Sunday promised to review and reform the system if his party is voted to power. "The present taxation system is a burden on the common man. There is a need to reform it. It is the need ...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 334
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Posted Date : 05-Jan-2014 , 10:00:56 am | Posted By CASANSAAR
The Company Law Act 2013 has a number of provisions on appointment of independent directors and there is a "growing importance" of their role and responsibility, a senior official of city-based cement manufacturer The India Cements Ltd said today. "There is a growing importance of independent d...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 389
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Posted Date : 04-Jan-2014 , 04:05:47 pm | Posted By CASANSAAR
Congrats to CA.Adish Kumar Jain for being nominated as Director of Corporation Bank. Shri Adish Kumar Jain, B.Sc., L.L.B.,FCA, DISA(ICAI) is a fellow member of the Institute of Chartered Accountants of India (M. No. 071255),having rich experience of over 30 years in the field ...
Continue Reading... Category : General | Comments : 6 | Hits : 1203
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Posted Date : 04-Jan-2014 , 08:42:59 am | Posted By CASANSAAR
MCX-SX board chaired by former home secretary GK Pillai on Friday appointed Ernst & Young (EY) to carry out forensic audit of the stock exchange since its inception in December 2008 when it began trading in currency futures. The board, which has been taken over by government-appointed representa...
Continue Reading... Category : Auditing | Comments : 0 | Hits : 470
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Posted Date : 04-Jan-2014 , 08:39:50 am | Posted By CASANSAAR
The Reserve Bank of India (RBI)’s panel on financial benchmarks has made several recommendations to bring in more transparency and improve the functioning of financial benchmarks. The panel said in its draft report the methodology used to calculate these benchmarks should be based o...
Continue Reading... Category : RBI | Comments : 0 | Hits : 268
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Posted Date : 03-Jan-2014 , 07:50:01 pm | Posted By CASANSAAR
Petrol price has been hiked yet again, this time by a massive 75 paise a litre, while diesel price has been raised by the regulation 50 paise today after jump in global oil rates and fall in Indian rupee value increased the cost of production. The hikes, effective midnight tonight, are excl...
Continue Reading... Category : General | Comments : 0 | Hits : 280
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Posted Date : 03-Jan-2014 , 08:53:38 am | Posted By CASANSAAR
The state cabinet on Thursday decided to waive the 5% sugarcane purchase tax for a year. The decision was taken as a relief measure for sugar factories that had claimed financial crisis before the beginning of the crushing season 2013-14. The waiver of sugarcane purchase tax was a crucial demand ma...
Continue Reading... Category : General | Comments : 0 | Hits : 377
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Posted Date : 03-Jan-2014 , 08:22:00 am | Posted By CASANSAAR
To ensure more transparency in capital market, Sebi said that mandatory allotment of preferential shares through demat accounts will also be applicable to overseas investors. The move is part of Sebi's effort to check the flow of illicit funds in the issuance of shares to investors on prefe...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 255
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Posted Date : 03-Jan-2014 , 08:13:29 am | Posted By CASANSAAR
Amid growing clamour from banks to charge customers for transactions at ATMs to make them economically viable, RBI Deputy Governor K C Chakrabarty today said the regulator will have no objections if the lenders charge "reasonable fee" for such services. "If banks charge a reasonable fee on ATM tran...
Continue Reading... Category : RBI | Comments : 0 | Hits : 661
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Posted Date : 02-Jan-2014 , 07:32:08 pm | Posted By CASANSAAR
Gearing up for the presentation of interim budget, Finance Ministry has asked different central government departments to come up with their demands by January 10. The third and final batch of Supplementary Demands for Grants for 2013-2014 (excluding Railways) is proposed to be pres...
Continue Reading... Category : Budget | Comments : 0 | Hits : 361
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Posted Date : 02-Jan-2014 , 11:10:26 am | Posted By CASANSAAR
CBDT has finally recognised the difficulty faced by the importers of services in filing online 15CA and introduced the Facility to upload Form 15CA is now available as offline utility. The Remitter may use either online or offline utility to upload Form 15CA. This facil...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 5689
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Posted Date : 02-Jan-2014 , 10:04:07 am | Posted By CASANSAAR
We are pleased to inform you that the Institute of Chartered Accountants of India is organizing Convocation 2013 at Delhi to distribute Certificates of Membership to the newly enrolled members of the Institute from membership number 526761 to 533317, with a view to promote professional camaraderie a...
Continue Reading... Category : ICAI | Comments : 1 | Hits : 6813
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Posted Date : 02-Jan-2014 , 09:40:12 am | Posted By CASANSAAR
The Reserve Bank said non-bank financial companies ( NBFCs) do not have to make provision for guaranteed portion of loans for low income housing. In case of NBFC-MFIs, if the advance covered by Credit Risk Guarantee Fund Trust for Low Income Housing (CRGFTLIH) guarantee becomes non-performing, ...
Continue Reading... Category : Banking | Comments : 0 | Hits : 421
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Posted Date : 02-Jan-2014 , 09:33:41 am | Posted By CASANSAAR
The Reserve Bank of India has asked the income-tax authorities information on six issues related to tax compliance of the 25 groups that have thrown their hat in the ring for starting a bank. Faced with the Herculean task of generating tax compliance reports on more than 1,500 entities asso...
Continue Reading... Category : RBI | Comments : 0 | Hits : 351
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Posted Date : 01-Jan-2014 , 08:39:56 pm | Posted By CASANSAAR
Shri Subodh Kumar Agrawal, President, The Institute of Chartered Accountants of India (ICAI) has been appointed as the President of the South Asian Federation of Accountants (SAFA) for the year 2014 w.e.f. today. He was the Vice-President of SAFA for the year 2013. Having passionately represent...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 362
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Posted Date : 01-Jan-2014 , 08:40:57 am | Posted By CASANSAAR
Opening up a money-spinning career proposition for lawyers in the country, the Bar Council of India (BCI) has written to the Union ministry of finance and tax authorities such as Central Board of Direct Taxes (CBDT) that lawyers must be authorised to sign and furnish tax audit certificates/reports, ...
Continue Reading... Category : ICAI | Comments : 6 | Hits : 3081
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Posted Date : 01-Jan-2014 , 08:32:40 am | Posted By CASANSAAR
From large corporates like Sahara to unknown individuals perpetrating SMS investment scams, it was a year marked by lot many penal actions and even more policy measures by Sebi to safeguard the investors interest. To help it bring to book fraudsters and other market manipu...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 258
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Posted Date : 01-Jan-2014 , 08:27:21 am | Posted By CASANSAAR
After fighting numerous frauds in 2013 and changing the way lakhs of corporates function and are regulated, the Corporate Affairs Ministry is looking at the new year to ensure right execution of new companies law and initiatives aimed at safeguarding interest of investors. "The real challenge i...
Continue Reading... Category : Service Tax | Comments : 0 | Hits : 270
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Posted Date : 31-Dec-2013 , 07:00:37 pm | Posted By CASANSAAR
The last date for compliance of CPE HOURS requirements for the block period 2011-2013 is extended upto 31.3.2014. Secretary, CPE Committee. ICAI...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 681
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Posted Date : 31-Dec-2013 , 05:25:05 pm | Posted By CASANSAAR
The Reserve Bank of India has said that banks will honour all currency notes, scribbled and unscribbled, after rumours spread through some local media that the central bank has advised banks not to accept notes that were scribbled upon. Scribbling on the top of the note is a widespread prac...
Continue Reading... Category : RBI | Comments : 0 | Hits : 621
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Posted Date : 31-Dec-2013 , 08:35:47 am | Posted By CASANSAAR
Reserve Bank of India (RBI) has allowed banks to sanction loans of up to Rs 1 lakh against pledge of gold ornaments and jewellery. "In response to suggestions from banks and with a view to ensuring a level playing field among various market participants, it has been decided to permit bullet...
Continue Reading... Category : Banking | Comments : 0 | Hits : 613
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Posted Date : 31-Dec-2013 , 08:34:46 am | Posted By CASANSAAR
The government on Monday cleared proposals by UK-based retail giant Tesco and telecom company Vodafone to together invest close to Rs 11,000 crore in India, signalling the government's determination to press ahead with FDI even in contentious areas such as multi-brand retail. With clearance from the...
Continue Reading... Category : International Business | Comments : 0 | Hits : 341
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Posted Date : 30-Dec-2013 , 08:06:49 pm | Posted By CASANSAAR
Commodity market regulator FMC has given more time till January 17 to Mumbai-based chartered accountants Chokshi and Chokshi for completing the forensic audit of the crisis-hit National Spot Exchange Ltd's (NSEL) e-series contracts. Chokshi and Chokshi, which was given December-end deadline to comp...
Continue Reading... Category : Auditing | Comments : 0 | Hits : 248
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Posted Date : 30-Dec-2013 , 08:04:01 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Monday extended the time for issuance of inflation indexed bonds to March 31, 2014 from the earlier December 31, 2013. The RBI in consultation with government earlier this month launched Inflation-Indexed National Saving Securities-Cumulative (IINSS-C), whic...
Continue Reading... Category : RBI | Comments : 0 | Hits : 136
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Posted Date : 30-Dec-2013 , 02:00:01 pm | Posted By CASANSAAR
The Finance Ministry has warned stern action against service tax evaders from January 1 since the service tax Voluntary Compliance and Encouragement Scheme (VCES) is coming to end on December 31. “I would like to advise that from January 1, 2014, stern action will be taken against ser...
Continue Reading... Category : Service Tax | Comments : 0 | Hits : 642
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Posted Date : 30-Dec-2013 , 08:32:07 am | Posted By CASANSAAR
President of Institute of Chartered Accountants of India (ICAI), Subodh Agrawal, has strongly ruled out the chance of any further probe against the organization's former chief Jaideep Shah in the controversial Rs100 crore land deal at Pipla on the city's outskirts. Shah, who preceded Agra...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 658
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Posted Date : 30-Dec-2013 , 08:27:44 am | Posted By CASANSAAR
Centre will begin notifying much-awaited Corporate Social Responsibility (CSR) norms as part of the new Companies Act in about a week's time. Corporate Affairs Minister Sachin Pilot told in an interview to PTI that his Ministry has finalised the CSR rules and have been sent to the Law Ministry for v...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 356
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Posted Date : 29-Dec-2013 , 05:12:44 pm | Posted By CASANSAAR
Expressing concern over shortage of CAs, the Institute of Chartered Accountants of India (ICAI) today said it has initiated a slew of measures, including improving of infrastructure to attract bright minds, to build their career in the profession. "Presently the country has around 2.25 lakh CAs...
Continue Reading... Category : ICAI | Comments : 4 | Hits : 2273
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Posted Date : 28-Dec-2013 , 08:02:18 pm | Posted By CASANSAAR
RBI today cautioned people about Bitcoins, virtual currency which has risen sharply in value in the past few months, but said any regulation on it would come only after it understood the subject. There was no regulation on Bitcoin anywhere in the world and so people should be cautious, should under...
Continue Reading... Category : RBI | Comments : 0 | Hits : 256
- 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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