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Posted Date : 11-Nov-2013 , 09:26:59 am | Posted By CASANSAAR
RBI has cautioned the public against fictitious e-mails sent in the names of the central bank and Governor Raghuram Rajan promising windfall gains, saying it does not send out such communications. The bank has run awareness campaigns about fake e-mails on a regular basis through its website and oth...
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Posted Date : 11-Nov-2013 , 09:23:04 am | Posted By CASANSAAR
As RBI gears up to issue new bank licences, capital markets regulatorSebi has also a job at hand that is of scrutinising all applicants coming under its jurisdiction directly or through group entities.Sebi's scrutiny follows detailed queries shot off by RBI to various regulators in India and ab...
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Posted Date : 11-Nov-2013 , 09:19:13 am | Posted By CASANSAAR
The Mumbai Income-Tax Appellate Tribunal (ITAT) has held that Passenger Service Fees (PSF) paid by Jet Airways (India) to the Airport Authority of India (AAI) is not liable to TDS. The tribunal also dismissed the revenue department's appeal claiming a TDS liability of R34.40 crore and another penal ...
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Posted Date : 10-Nov-2013 , 10:30:18 am | Posted By CASANSAAR
Sending a stern message to tax offenders, Union Finance Minister P Chidambaram today said government was having enough information on economic wrongdoers and warned them of tough action, including arrest."Government has to send a message, a stern message, that such violation...
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Posted Date : 09-Nov-2013 , 06:32:56 am | Posted By CASANSAAR
The Institute of Company Secretaries of India may get re-christened as Institute of Governance Professionals of India (IGPI). Any such move would be in line with the institute’s recent aspiration to elevate its members from being compliance officers to governance professionals.  ...
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Posted Date : 09-Nov-2013 , 06:15:20 am | Posted By CASANSAAR
Easing procedures, the Reserve Bank on Friday allowed third-party payment for export and import transactions. With a view to further liberalise the procedure relating to payments for exports/imports, banks are allowed payments for export of goods/software to be received from a third-party, the RBI ...
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Posted Date : 08-Nov-2013 , 03:31:53 pm | Posted By CASANSAAR
The Direct Taxes Committee, Indirect Taxes Committee & Committee on International Taxation of ICAI are in the process of identifying issues for inclusion in the Pre-Budget Memoranda- 2014 to be submitted to the Ministry of Finance. Suggestions are invited on laws relating to Direct Taxes (includ...
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Posted Date : 08-Nov-2013 , 12:32:46 pm | Posted By CASANSAAR
The Centre is preparing to challenge an unprecedented court order that says that the Central Bureau of Investigation or CBI is 'unconstitutional' and does not have powers to investigate crimes. The government's main investigating agency stands to lose its powers to probe, file FIRs or First Informa...
Continue Reading... Category : General | Comments : 0 | Hits : 208
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Posted Date : 08-Nov-2013 , 12:12:55 pm | Posted By CASANSAAR
The Economic Offences Wing (EOW) of the Mumbai Police on Thursday issued orders to attach around 25 properties belonging to defaulters in the matter related to the settlement crisis at the National Spot Exchange (NSEL). According to a senior EOW official, the police have identified a total ...
Continue Reading... Category : Shares & Stock | Comments : 0 | Hits : 195
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Posted Date : 08-Nov-2013 , 09:28:27 am | Posted By CASANSAAR
Excessive chief executive salaries may get reined in soon, with India's capitalmarket regulator planning to rewrite the rules on compensation.The Securities and Exchange Board of India, or Sebi, is considering a proposal to make it mandatory for companies to get remuneration packages of promote...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 234
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Posted Date : 07-Nov-2013 , 08:31:48 am | Posted By CASANSAAR
The Reserve Bank permitted wholly-owned subsidiary (WOS) of foreign banks to acquire domestic private sector banks as well as set up branches anywhere in the country. It also allowed foreign bank subsidiary to list on local stock exchanges. However, foreign bank subsidiary will not be allo...
Continue Reading... Category : Banking | Comments : 0 | Hits : 397
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Posted Date : 07-Nov-2013 , 08:25:55 am | Posted By CASANSAAR
Market regulator Sebi asked bourses to report all major non-compliances and observations by system auditors of stock brokers on a quarterly basis. The exchanges are also required to ensure that all major audit findings specifically in critical areas, are rectified ...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 523
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Posted Date : 06-Nov-2013 , 07:30:52 pm | Posted By CASANSAAR
Amid a slowing economy, gross direct tax collection has risen by 11.58 per cent to Rs. 3.37 lakh crore during the April-October period of fiscal year 2013-14 (FY14), according to official data. The collections had totalled Rs. 3.02 lakh crore during the first seven months ...
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Posted Date : 06-Nov-2013 , 06:42:16 pm | Posted By CASANSAAR
The last date for the public at large for giving suggestions/ comments to the Ministry of Corporate Affairs regarding the 3rd and 4th tranche of Draft Rules being framed under the Companies Act, 2013 has been extended to the 10th of this month. In these 2 phases, Draft Rules have been framed on depo...
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Posted Date : 06-Nov-2013 , 02:57:31 pm | Posted By CASANSAAR
No.13-CA(Exam)/N/2013/III: In continuation to Notification No.13-CA(Exam)/N/2013/II dated 8thOctober, 2013 and in further partial modification of the Institute’s Notification No. 13-CA(Exam)/N/2013 dated 5th July, 2013, it is hereby notified for general information that in view of the Constitu...
Continue Reading... Category : Students Zone | Comments : 0 | Hits : 459
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Posted Date : 06-Nov-2013 , 08:41:27 am | Posted By CASANSAAR
Corporate affairs minister Sachin Pilot on Tuesday said certain entities are being scrutinized to check whether they have violated any laws in the NSEL case. National Spot Exchange (NSEL), promoted by Jignesh Shah-led FTIL, is grappling with a Rs 5,600-crore payment crisis....
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 311
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Posted Date : 05-Nov-2013 , 06:34:49 pm | Posted By CASANSAAR
Today i.e. November 5, 2013 was the last date for the public at large for giving suggestions/ comments to the Ministry of Corporate Affairs for the 3rd and 4th tranche of Draft Rules being framed under the Companies Act, 2013. In these 2 phases, Draft Rules have been framed on deposits, SFIO, Nation...
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Posted Date : 05-Nov-2013 , 03:48:48 pm | Posted By CASANSAAR
India has launched its first mission to Mars on Tuesday at 02:38pm (0908 GMT) from Satish Dhawan Space Centre here in Andhra Pradesh. The spacecraft was carried onboard the indigenous PSLV-C25 rocket which will inject it into Earth's orbit after 40 minutes from lift-off The Mar...
Continue Reading... Category : General | Comments : 0 | Hits : 283
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Posted Date : 05-Nov-2013 , 08:55:12 am | Posted By CASANSAAR
Only 30 per cent of those registered from the Service Industry pay the tax while the remaining 70 per cent do not pay either because they are not aware of their responsibility or are registered despite being out of its ambit. Making an elaborate presentation on the need to deregister from t...
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Posted Date : 05-Nov-2013 , 08:44:05 am | Posted By CASANSAAR
Top 30 loan defaulters of the public sector banks account for one-third of the total gross non-performing assets of state-run lenders, according to the Reserve Bank data. The gross non-performing assets (GNPA) amount of top 30 accounts of public sector banks (PSBs) stood at Rs 63,671 ...
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Posted Date : 05-Nov-2013 , 08:42:34 am | Posted By CASANSAAR
Indian minority shareholders in Vodafone India, including Analjit Singh, will have to pay 20 per cent capital gains tax after selling their stake to the UK-based parent company, a Finance Ministry official said. "There is a capital gain for the minority shareholders and it will be tax...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 366
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Posted Date : 04-Nov-2013 , 09:36:51 pm | Posted By CASANSAAR
BlackBerry abandoned its sale process on Monday, and announced it will replace its chief executive. Fairfax, BlackBerry's largest shareholder with a 10 percent stake, said it won't buy the struggling smartphone company and take it private but said it and other investors will inject $1 billi...
Continue Reading... Category : International Business | Comments : 0 | Hits : 212
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Posted Date : 04-Nov-2013 , 09:16:51 am | Posted By CASANSAAR
If you like shopping on the net and prefer paying cash, you may not be the only one taking a close look at the itemised bill - Indian tax authorities are now tracking online purchases to identify potential defaulters. In a country where just 3% of the more than 100 crore population pays income...
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Posted Date : 04-Nov-2013 , 09:14:39 am | Posted By CASANSAAR
The Supreme Court has dismissed many petitions in the past but rarely has the country’s apex court accused the petitioners of being “stool pigeons” of powerful corporate lobbies. That’s precisely what the judges did on Friday in a detailed 87-page order rejecting th...
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Posted Date : 04-Nov-2013 , 09:10:12 am | Posted By CASANSAAR
The Comptroller and Auditor General of India Shashi Kant Sharma has been elected to the coveted United Nations Board of Auditors for a six-year term. India defeated the Philippines with a convincing margin in the election to the panel. India got the support of China and Pakistan in the elections. &...
Continue Reading... Category : International Business | Comments : 0 | Hits : 357
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Posted Date : 04-Nov-2013 , 09:05:05 am | Posted By CASANSAAR
The Tamil Nadu Chamber of Commerce and Industry has thanked the Minister for Commercial Taxes for extending the last date for filing the annual return in Form-WW under the TN VAT Act, to December 31 permanently. This was applicable for dealers with annual turnover of more than Rs 1 Crore. I...
Continue Reading... Category : VAT | Comments : 0 | Hits : 429
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Posted Date : 03-Nov-2013 , 05:36:07 pm | Posted By CASANSAAR
The Mumbai police will soon send details acquired from a backup server of Financial Technologies, the promoter of National Spot Exchange Ltd (NSEL), for forensic examination. The details could, a senior police source said, reveal whether there was interaction via email b...
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Posted Date : 03-Nov-2013 , 12:53:56 pm | Posted By CASANSAAR
The Indian arm of IBM said it will seek legal recourse after Indian income tax authorities issued a tax demand of a little over Rs 5,300 crore.The tax department is alleging that IBM under-reported export revenues that the American company earned in the 2008-09 financial year fro...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 333
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Posted Date : 02-Nov-2013 , 08:34:35 am | Posted By CASANSAAR
Observing that all was not well with the functioning of the Institute of Chartered Accountants of India (ICAI), Madras High Court today ordered issue of notice to the CBI and Central Vigilance Commission on a petition alleging financial irregularities by the office-bear...
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Posted Date : 01-Nov-2013 , 07:58:12 pm | Posted By CASANSAAR
The Forward Markets Commission (FMC) has written to Institute of Chartered Accountants of India (ICAI) to give a list of auditors who can be assigned the task of conducting a forensic audit of e-seriescontracts of National Spot Exchange (NSEL). The Accountants body is likely to ...
Continue Reading... Category : Auditing | Comments : 0 | Hits : 589
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