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Posted Date : 31-Aug-2013 , 12:31:01 pm | Posted By CASANSAAR
A US Federal agency has launched an investigation into Indian trade policies which allegedly discriminate against the American trade and investment. The investigation, "Trade, Investment and Industrial Policies in India: Effects on the US Economy", was requested jointly by the Senate Commit...
Continue Reading... Category : International Business | Comments : 0 | Hits : 346
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Posted Date : 31-Aug-2013 , 09:41:27 am | Posted By CASANSAAR
Soon after the Rajya Sabha passed the new Companies Bill, corporate affairs ministerSachin Pilot hogged the limelight by asserting that the basic intent of the new law was lesser regulation, more compliance and to ignite the entrepreneurial spirit by offering "freedom" to entrepreneurs.What's i...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 2426
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Posted Date : 31-Aug-2013 , 09:36:23 am | Posted By CASANSAAR
With all efforts to arrest the rupee's slide coming to a naught, policymakers now plan to knock on the doors of temples — from Tirupati to Shirdi — seeking a boon to feed Indians' fetish for gold without importing it.The Reserve Bank of India, which has been making gold im...
Continue Reading... Category : RBI | Comments : 1 | Hits : 800
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Posted Date : 30-Aug-2013 , 09:31:45 pm | Posted By CASANSAAR
Data on dollars transferred abroad by foreign companies in India is not centrally maintained by the government. However, with a view to prevent shifting of profits out of India and consequent erosion of the Indian tax base, selected international transactions undertaken are analysed every ...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 326
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Posted Date : 30-Aug-2013 , 09:29:54 pm | Posted By CASANSAAR
Details of Non-Governmental Organizations (NGOs) exempted from tax with regard to foreign donations received by them is not centrally maintained in Central Board of Direct Taxes (CBDT). However, details of foreign donation disclosed under Foreign Currency Regulation Act (FCRA). 2010 is maintained in...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 381
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Posted Date : 30-Aug-2013 , 04:48:01 pm | Posted By CASANSAAR
COMPANIES ACT, 2013 (ACT NO.18 OF 2013) HAS BEEN ASSENTED BY PRESIDENT OF INDIA ON AUGUST 29, 2013....
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 5228
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Posted Date : 30-Aug-2013 , 08:47:57 am | Posted By CASANSAAR
The Corporate Affairs Ministry today said it has ordered investigations into the affairs of 125 companies for allegedly defrauding investors by offering high returns in the last three years and the current year. Corporate Affairs Minister Sachin Pilot, while replying to a question in...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 489
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Posted Date : 30-Aug-2013 , 08:35:31 am | Posted By CASANSAAR
The income tax department is going slow on several refunds of over Rs 1 lakh for 2011-12, amid slowing revenue growth due to the faltering economy. While the government has not issued any directives to the revenue officers to go slow on tax refunds, the indications are strong enough to ens...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 556
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Posted Date : 30-Aug-2013 , 08:32:51 am | Posted By CASANSAAR
Market regulator Sebi is in the process of hiring 75 people, its biggest recruitment drive in a decade that comes amid a move to set up new divisions for search and seizure, and attachment of assets, among others, at a time the new securities law bill approved by the Lok Sabha gives i...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 575
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Posted Date : 29-Aug-2013 , 09:48:42 pm | Posted By CASANSAAR
Reserve Bank of India Governor D Subbarao has attributed the sharp depreciation of the rupee over the last three months to the government’s failure to take care of domestic structural factors such as a high current account deficit (CAD), which is well above the “sustainable lev...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 427
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Posted Date : 29-Aug-2013 , 08:33:59 am | Posted By CASANSAAR
Credited as the cheapest course, at Rs 45,000, the Institute of Chartered Accountants of India (ICAI), has set out to promote the course and hold campus placement programmes in various cities. ICAI, the statutory body for regulation of chartered accountants in India, has set out to place ...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 2962
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Posted Date : 29-Aug-2013 , 08:22:05 am | Posted By CASANSAAR
For the first time, the Finance Ministry has started sending letters to service tax, customs and excise duty defaulters asking them to come clean on certain dubious transactions carried out by them. The letters are being issued by two lead intelligence agencies under the Finance Minis...
Continue Reading... Category : Service Tax | Comments : 0 | Hits : 466
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Posted Date : 28-Aug-2013 , 08:23:43 pm | Posted By CASANSAAR
With the economy in distress, leading industrialist Ratan Tata has said India has lost the confidence of the world and the government has been slow to recognise it. He also said the government has “swayed” under the influence of vested interests in private sector and policies ha...
Continue Reading... Category : Finance | Comments : 0 | Hits : 633
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Posted Date : 28-Aug-2013 , 05:51:55 pm | Posted By CASANSAAR
Retirement fund manager EPFO is all set to launch a facility to provide online updated account statements on real time basis for its over 5 crore subscribers soon after the Monsoon Session of Parliament. At present, the Employees' Provident Fund Organisation (EPFO) has to provide annual PF account ...
Continue Reading... Category : General | Comments : 0 | Hits : 350
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Posted Date : 28-Aug-2013 , 10:58:21 am | Posted By CASANSAAR
The S&P BSE Sensex slipped over 500 points, while the broader 50-share index Nifty fell over 3 per cent to trade below its key psychological level of 5,150.Oil prices have shot up recently after the US indicated a possible military action on Syriafor its alleged use of c...
Continue Reading... Category : International Business | Comments : 0 | Hits : 269
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Posted Date : 28-Aug-2013 , 08:46:18 am | Posted By CASANSAAR
A Chartered Accountant (CA) has been taken into custody by the Central Crime Station (CCS) sleuths for duping a bank to the tune of Rs 12 crore. According to CCS, a case was registered against Sai Baba, a chartered accountant from Guntur under various sections, including 42...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 3456
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Posted Date : 28-Aug-2013 , 08:33:57 am | Posted By CASANSAAR
I. GENERAL The ST-3 Return for the period, Oct, 2012- Mar, 2013 is a quarterly or half-yearly? It is a half yearly return. Is there any change in the Format of ST3 return for the return period Oct, 2012 -March, 2013 when compared to July – Sept, 2012 return? Yes. July &ndas...
Continue Reading... Category : Service Tax | Comments : 0 | Hits : 2315
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Posted Date : 27-Aug-2013 , 04:16:12 pm | Posted By CASANSAAR
As the members are aware, e-filing of Tax Audit Reports has been made mandatory from the AY2013-14 onwards vide Notification No. 34/2013 dated 01-05-2013. In order to e-file Tax AuditReport a Chartered Accountant requires to register himself in the e-filing portal as a “Taxprofessional”....
Continue Reading... Category : ICAI | Comments : 0 | Hits : 1329
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Posted Date : 27-Aug-2013 , 04:08:45 pm | Posted By CASANSAAR
The rupee on Tuesday plunged further by 177 paise to record low of 66.07 against the US dollar in afternoon trade on the Interbank Foreign Exchange on strong demand for the American currency from banks and importers and persistent capital outflows. The rupee had ended down 110 paise or 1.74 p...
Continue Reading... Category : International Business | Comments : 0 | Hits : 264
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Posted Date : 27-Aug-2013 , 08:48:47 am | Posted By CASANSAAR
An action plan has been prepared to extend the services of Chartered Accountants (CA) to banks and cooperatives in a big way, and the Southern India Regional Council (SIRC) of the Institute of Chartered Accountants of India (ICAI) is holding talks with heads of various banks in the southern States i...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 2343
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Posted Date : 27-Aug-2013 , 08:45:05 am | Posted By CASANSAAR
Students aiming for higher education in foreign universities are a bit nervous about their future. A rapidly depreciating rupee was the first blow. The second one was from the ReserveBank of India (RBI) a few days ago. In its bid to arrest the free-falling rupee, the ba...
Continue Reading... Category : Students Zone | Comments : 0 | Hits : 553
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Posted Date : 27-Aug-2013 , 08:40:46 am | Posted By CASANSAAR
Chartered Accountants (CAs) will have to use audited financials of non-corporates, including limited liability partnerships (LLPs), to certify their adjusted total income figures so as to help them pay the mandatory alternate minimum tax (AMT). According to the latest guidance note released by the I...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 464
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Posted Date : 27-Aug-2013 , 08:27:54 am | Posted By CASANSAAR
The online version of the Service Taxreturn (ST-3) for the period October’12 to March’13 is now available for e-filing in ACES. Assessees can also use the offline utility by downloading the latest version from http://acesdownload.nic.in/ or from ‘DOWNLOA...
Continue Reading... Category : Service Tax | Comments : 0 | Hits : 662
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Posted Date : 26-Aug-2013 , 08:16:49 pm | Posted By CASANSAAR
The government Monday set up a commission under the chairmanship of Parthasarathy Shome, advisor to finance minister, to suggest reforms in tax administration aimed at widening the tax base and enhancing compliance. The “Tax Administration Reform Commission” has been asked to submit its...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 190
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Posted Date : 26-Aug-2013 , 08:12:39 am | Posted By CASANSAAR
The government plans to adopt a transparent and interactive process tofinalise a detailed set of rules to be adopted under the new Companies Bill, and will soon seek comments from India Inc and general public in this regard.The new Companies Bill, which entails sweeping chan...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 742
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Posted Date : 25-Aug-2013 , 06:35:49 pm | Posted By CASANSAAR
Public sector banks face a shortage of 56,022 personnel across various cadres and the lenders are at different stages of filling these posts, official sources said. In the officer category, 25 public sector banks have 23,794 vacancies as of March, 2013. Of this, 5,815 officer level posts are inBank...
Continue Reading... Category : Banking | Comments : 0 | Hits : 583
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Posted Date : 24-Aug-2013 , 07:42:56 pm | Posted By CASANSAAR
The National Spot Exchange (NSEL) crisis has deepened with the tax department confirming that transactions on the bourse were made against non-existent to inadequate stocks. "In some cases there are no stocks, in others the quantity of thestocks is below that claimed by some of the b...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 229
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Posted Date : 24-Aug-2013 , 07:36:43 pm | Posted By CASANSAAR
Please note that wef 06/08/2013 you will not be able to change income tax user id password since now department will send reset password only to the registered email id. That implies in order to change the password client has to visit his previous CA or Advocate . That change of meth...
Continue Reading... Category : Income Tax | Comments : 3 | Hits : 2266
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Posted Date : 24-Aug-2013 , 08:33:48 am | Posted By CASANSAAR
Bollywood producer and directorSamir Karnik was today arrested by Service Tax Department for alleged tax evasion of Rs 1.18 crore and was later released on bail by a court.The anti-evasion team led by Deputy Commissioner, Service Tax, Samir Wankhede found that Karnik had pr...
Continue Reading... Category : Service Tax | Comments : 0 | Hits : 601
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Posted Date : 24-Aug-2013 , 08:08:56 am | Posted By CASANSAAR
The Reserve Bank today directed banks to adopt a uniform holidays calender to streamline cheque clearing system forCheque Truncation System (CTS) centres in New Delhi, Chennai and Mumbai."The CTS centres in New Delhi, Chennai and Mumbai will adopt RTGS holidays as ...
Continue Reading... Category : Banking | Comments : 0 | Hits : 443
- 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
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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
- 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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