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Posted Date : 17-Oct-2013 , 08:07:54 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs has extended by 4 days the last date for submission of suggestions/ comments for the 2nd tranche of Draft Rules being framed under the Companies Act, 2013. Earlier, the last date was fixed as 19th of this month but now it has been extended to 23rd October 2013. Afte...
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Posted Date : 17-Oct-2013 , 03:49:16 pm | Posted By CASANSAAR
The government today approved setting up of six additional benches of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), including three new ones at Chandigarh, Hyderabad and Allahabad with an aim to increase disposal of cases.The other three additional benches will come up at the exis...
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Posted Date : 17-Oct-2013 , 03:48:00 pm | Posted By CASANSAAR
The government reduced the import tariff value of gold and silver to $418 per 10 gram and $699 per kg, respectively, in line with global rates of the precious metals. The tariff value, the base price at which the customs duty is determined to prevent under-invoicing, stood a...
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Posted Date : 17-Oct-2013 , 08:14:02 am | Posted By CASANSAAR
The Income Tax department may start an inquiry into alleged discrepancies in filing of tax returns of some of Madhya Pradesh ministers pointed out by an audit report. The Income Tax department has got some documents pertaining to the alleged lapses and is in the process of a...
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Posted Date : 17-Oct-2013 , 08:13:07 am | Posted By CASANSAAR
Market regulator Securities and Exchange Board of India (SEBI) has asked the corporate affairs ministry to clarify the applicability of the new companies law on firms with listed non-convertible debt securities or NCDs. Companies like HDFC, Power FinanceCorporation, Sundaram Finance a...
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Posted Date : 16-Oct-2013 , 05:00:45 pm | Posted By CASANSAAR
Many taxpayers, who have filed their returnsand sent across their verification form in June or July, usually get the acknowledgement and refunds around this time of the year. However, quite often, many taxpayers complain that they did not get the intimation of the receipt of their ITR-V(ve...
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Posted Date : 16-Oct-2013 , 08:28:49 am | Posted By CASANSAAR
The Central Board of Excise and Customs (CBEC) will make a last-ditch effort to convince the Supreme Court to reconsider its judgement which held that offences under the Customs Act arebailable and an accused cannot be arrested without a warrant. A review petition filed by ...
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Posted Date : 16-Oct-2013 , 08:25:14 am | Posted By CASANSAAR
Companies will now have to explain why they do not have a woman director on their boards. Companies should at least have one director, preferably independent, on board, according to SEBI’s Primary Market Advisory Committee (PMAC). The move is to enrich the diversity of compan...
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Posted Date : 15-Oct-2013 , 08:22:36 am | Posted By CASANSAAR
The world's fifth largest auditing and accounting firm BDOInternational, which has just re-entered the country for the third time by roping in MZSK & Associates as its new partner, is bullish about the market and plans to nearly treble head-count to around 1,200 over the next six month...
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Posted Date : 15-Oct-2013 , 08:17:16 am | Posted By CASANSAAR
The Mukesh Ambani-led Reliance Industries (RIL) on Monday became the first private sector firm to report revenues exceeding Rs 1 lakh crore in a quarter, joining its public sector peer Indian Oil Corporation ( IOC) which is the only other Indian company with the distinction ...
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Posted Date : 15-Oct-2013 , 08:06:01 am | Posted By CASANSAAR
Sebi proposed new norms for settlement of administrative and civil proceedings against suspected market defaulters, except in cases of serious violations like illicit pooling of funds from investors, insider trading and fraudulent and unfair trades. The list of violations that can't b...
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Posted Date : 14-Oct-2013 , 08:56:01 pm | Posted By CASANSAAR
MAC (Part-I) CMC (Part-I) TMC (Part-I) DIRM ITL&WTO (Part-I) Source :- ICAI...
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Posted Date : 14-Oct-2013 , 08:57:16 am | Posted By CASANSAAR
Amid arrests of National Spot Exchange Ltd (NSEL) officials and unraveling of the fraud, the commoditymarket regulator is preparing to widen its probe. Forward Markets Commission (FMC), the regulatory authority, has decided to order a special audit of Multi Commodity Exchange(MCX...
Continue Reading... Category : Auditing | Comments : 0 | Hits : 339
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Posted Date : 13-Oct-2013 , 07:33:39 pm | Posted By CASANSAAR
SEBI is looking to frame guidelines to check the possible misuse of social media in capital markets so as to protect investor interest. The move is a part of efforts to curb manipulative practices in the market through the use of social media. That apart, with increasing popula...
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Posted Date : 12-Oct-2013 , 08:20:31 am | Posted By CASANSAAR
There is some good news for chartered accountancy students. Aiming to place Indian chartered accountants on a par with their global peers, the Institute of Chartered Accountants of India (ICAI) has collaborated with its British counterpart - the Institute of Chartered Accountants in England&nbs...
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Posted Date : 12-Oct-2013 , 08:19:30 am | Posted By CASANSAAR
Residents and non-residents should pay same tax on capital gains from sale of securities, according to a Delhi High Court ruling that is expected to clear the fog on a tax question that foreign companies face. Long-term gains from off-market sale ofsecurities attract a tax of 10%...
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Posted Date : 12-Oct-2013 , 08:18:37 am | Posted By CASANSAAR
The filing of online provident fund account transfer claims on changing jobs for subscribers of the retirement fund body EPFO has become a reality now. The facility has been made available as the Employees' Provident Fund Organisation (EPFO) has launched its online transfer claim port...
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Posted Date : 12-Oct-2013 , 08:17:49 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) today said the new RTGS system, a mechanism that transfers money from one bank to another in real time, will be operational from October 19. "The new RTGS system will be operationalised on October 19 and the RTGS System Regulations 2013 will come into e...
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Posted Date : 11-Oct-2013 , 09:29:14 pm | Posted By CASANSAAR
1. How do I get my admit card? Admit cards for November 2013 exam are hosted on http://www.icai.nic.in. Candidates may print their admit cards from the website. Physical admit cards for November 2013 examination are also sent by post, as an add...
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Posted Date : 11-Oct-2013 , 04:28:07 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) has further relaxed foreign borrowing norms for banks under the recently opened swap window, allowing them to raise funds through their head offices and correspondents. Until now, the window was limited to the banks' overseas branches. "Authorised dealer category...
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Posted Date : 11-Oct-2013 , 08:50:49 am | Posted By CASANSAAR
M/s Sarathy and Balu has resigned as the statutory auditor of the troubled First Leasing Company of India Ltd, days after red-flagging the accounts of the joint venture between Farouk Irani and Spic Group's AC Muthiah. The company, disclosing this in a late Thursday eve...
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Posted Date : 11-Oct-2013 , 08:48:18 am | Posted By CASANSAAR
In its effort to check any leakage of indirect tax revenue, the Finance Ministry has detected service tax evasion of about Rs 600 crore between January and July this year. As many as 569 cases were detected by various central excise and service taxformations across the ...
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Posted Date : 11-Oct-2013 , 08:39:32 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) plans to make companies making disclosures in stock exchanges stick to them. Sebi has found that companies sometimes make announcements that send the stock prices soaring but the actual implementation of those remains unfinished for years. "...
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Posted Date : 10-Oct-2013 , 12:48:05 pm | Posted By CASANSAAR
IMPORTANT ANNOUNCEMENT September 30th, 2013 Subject: Zone-shifting of candidates for November - 2013 CA Exams Due to paucity of accommodation in certain Zones opted by the candidates in the cities of Bangalore, Chennai, Delhi, Indore and Mumbai, some of the candidates have been allo...
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Posted Date : 10-Oct-2013 , 08:43:50 am | Posted By CASANSAAR
Food and beverages served at swimming pool side in a hotel will attract service tax, the Finance Ministry has said. "Services provided by specified restaurant in other areas of the hotel are liable for service tax," said the Central Board of Excise and Customs (CBEC) while clarifying ...
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Posted Date : 10-Oct-2013 , 08:38:29 am | Posted By CASANSAAR
The Income Tax (I-T) department has identified 10 lakh more high-risk individuals, who have made significant cash transactions through their credit cards orinvestments but the same had not been reflecting in their I-T returns. High-risk individuals also include those who hav...
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Posted Date : 10-Oct-2013 , 08:36:52 am | Posted By CASANSAAR
The Reserve Bank today said it did not have any problem with banks offering loans to credit cardholders while purchasing goods or services but there needs to be transparency with the process. "There is no ban on giving loans on credit cards. Don't charge 12 per cent actually and claim...
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Posted Date : 09-Oct-2013 , 07:10:49 pm | Posted By CASANSAAR
As per the records of the Ministry of Corporate Affairs there were a total of 13.45 lakh companies in the official Registry as on 31st August 2013. However, out of these as many as 2.57 lakh companies have been closed and there are 30,127 companies that are in the process of being closed. Also, as m...
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Posted Date : 09-Oct-2013 , 02:11:38 pm | Posted By CASANSAAR
No.13-CA(Exam)/N/2013/II: In 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 theElection to the Legislative Assembly of Chhattisgarh State, the Chartered Accountants Final (Group II)...
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Posted Date : 09-Oct-2013 , 02:08:15 pm | Posted By CASANSAAR
For kind information of the membersSub : Penal provisions for the members of the Institute who had not complied with their CPE Hours requirements for the block period of 3 years(1-1-2011 to 31-12-2013) In order to function the system of mandatory CPE effective, the Council of the Institute of...
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