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Posted Date : 07-Aug-2013 , 08:53:53 pm | Posted By CASANSAAR
The due date for filing of Income Tax Return for Individuals, HUFs and non-auditable cases for A.Y. 2013-14 was extended by the Central Board of Direct Taxes (CBDT) from 31st July to 5th August, 2013 as there was an overwhelming response to e-filing from every corner of the country. 123.03...
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Posted Date : 07-Aug-2013 , 06:51:14 am | Posted By CASANSAAR
All foreign donations above Rs 1 crore will now come under the scrutiny of the Income Tax department. The Central Board of Direct Taxes (CBDT) has issued new directives for selection of scrutiny cases during the financial year 2013-14 by the taxman which also includes b...
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Posted Date : 06-Aug-2013 , 10:55:37 pm | Posted By CASANSAAR
Raghuram Rajan, currently the Chief Economic Advisor to the government of India was on Tuesday appointed the Reserve Bank of India's (RBI) governor for three years.Rajan will replace D Subbarao, who completes his five-year term on September 4, and will be the 23rd Governor of the central bank."Prime...
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Posted Date : 06-Aug-2013 , 10:42:42 pm | Posted By CASANSAAR
Based on the recommendations of the Foreign Investment Promotion Board (FIPB) in its meeting held on July 5, 2013, the Central Government has approved twelve (12) Proposals of Foreign Direct Investment amounting to ...
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Posted Date : 06-Aug-2013 , 03:34:21 pm | Posted By CASANSAAR
The Income Tax (I-T) department today warned that non-payment of Tax Deducted at Source (TDS) to the government could lead to prosecution. “It has come to the notice of I-T department that many times the tax deductors, after deducting TDS from specified payments, are deliberately no...
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Posted Date : 06-Aug-2013 , 07:49:09 am | Posted By CASANSAAR
It has huge collection of coins & carvings of Vedic period which defines accountancy culture in India. The Institute of Chartered Accountancy in India (ICAI) Indore branch launched the first ever accountancy museum of Indore on Saturday. The museum includes all the archival data on char...
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Posted Date : 06-Aug-2013 , 07:43:17 am | Posted By CASANSAAR
The government is looking into complaints of financial fraud against 154 companies, including those connected withSaradha Group and Rose Valley Group, Parliament was informed on Monday. "Complaints have been received against 154 companies/organisations during the last three years," corpora...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 417
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Posted Date : 06-Aug-2013 , 07:41:22 am | Posted By CASANSAAR
The government is expected to ban trading in e-series contracts on the National Spot Exchange Ltd (NSEL), the only contracts being traded on the platform. On the NSEL platform under e-series contracts, retail investors can buy and sell commodities in demat form. This is a unique market segm...
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Posted Date : 06-Aug-2013 , 07:37:21 am | Posted By CASANSAAR
The first arrest of a service tax defaulter in the country has been made after government got the powers recently to crack the whip on evaders. A courier company owner was arrested for allegedly evading service tax of about Rs 70 lakh in the first such case after Finance Minister...
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Posted Date : 05-Aug-2013 , 07:33:57 pm | Posted By CASANSAAR
The Council of the Institute has approved the following decisions pertaining to training of the students of the Company Secretaryship Course.: A) 15 months training with Law Firms, Consultancy Firms, Financial Institutions The Council of the Institute has allowed imp...
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Posted Date : 05-Aug-2013 , 08:44:19 am | Posted By CASANSAAR
When DLF Commercial Projects Corporation - a partnership firm in which India's largest real estate firm, DLF, held 74% - filed its income-tax returns in September 2009, declaring a loss of 20.1 crore, the assessing officer could not understand certain transactions. One such transaction was...
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Posted Date : 05-Aug-2013 , 08:16:31 am | Posted By CASANSAAR
The country might have more than 13 lakh registered companies but over one-third of them are either inactive or closed. With increasing business activities, the count of new companies is on the rise with as many as 1.5 lakh firms getting registered in one-and-a-half years, ac...
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Posted Date : 05-Aug-2013 , 08:11:51 am | Posted By CASANSAAR
The Reserve Bank of India's recent liquidity tightening measures, which threaten to take a fresh toll on banks' asset quality, come at a time when commercial banks led by the public sector brigade were beginning to see visible results in their crack down on runaway non-performing loans. For...
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Posted Date : 04-Aug-2013 , 05:46:56 pm | Posted By CASANSAAR
As income tax e-filing picks up pace due to last minute rush, are busy using phishing e-mails and fake ads to steal confidential financial data of users, cyber security firm McAfee said on Sunday. Cyber criminals try to take advantage of the rush during the last days of e-filing as tax payers...
Continue Reading... Category : Income Tax | Comments : 1 | Hits : 503
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Posted Date : 04-Aug-2013 , 05:37:13 pm | Posted By CASANSAAR
The e-filing of income taxreturns has crossed the one crore mark with the maximum of such filings done by the salaried class of taxpayers. In a latest data released by the Central Processing Centre (CPC) of the I-T department based in Bangalore, a total of 1,03,21,775 e-returns w...
Continue Reading... Category : Income Tax | Comments : 1 | Hits : 434
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Posted Date : 03-Aug-2013 , 08:50:31 am | Posted By CASANSAAR
The income tax law sets out two deadlines for filing your returns in the financial year just gone by: 31 July is the default date; 30 September is the last date for companies and all others who need to get their accounts audited. The Central Board of Direct Taxes (CBDT) has extended the last date fo...
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Posted Date : 03-Aug-2013 , 08:48:33 am | Posted By CASANSAAR
Market watchdog Sebi today barred SMC Global Securities Ltd from taking up any new assignment for three months for violations related to reporting of margin and delay in collection of dues from trading members. The Securities and Exchange Board of India(Sebi), in its order, ...
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Posted Date : 02-Aug-2013 , 08:34:21 pm | Posted By CASANSAAR
The Council, at its 326th meeting held on 27-29th July 2013 decided that the followingmodifications be made in the existing scheme for providing certified copies/inspection ofevaluated answer books to the examinees: 1. The time limit for preferring an application by an examinee for inspecti...
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Posted Date : 02-Aug-2013 , 08:25:45 pm | Posted By CASANSAAR
The Cabinet Committee on Economic Affairs has approved creation of the Special National Investment Fund for the specific objective of meeting the minimum public shareholding of 10 percent requirement in the following six Central Public Sector Enterprises (CPSEs). (i) Andrew Yule & Company L...
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Posted Date : 02-Aug-2013 , 07:17:48 am | Posted By CASANSAAR
In the first full year, over 5,000 companies have complied with the Ministry of Company Affairs order on mandatory cost audit. In May 2011, MCA made cost audit mandatory for manufacturing units in sectors such as cement, tyre, steel, fertiliser, bulk drugs, formulations, sugar, paper, insec...
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Posted Date : 02-Aug-2013 , 07:15:02 am | Posted By CASANSAAR
The Supreme Court today sharply criticised the IT Department and the CBI for not taking any action on the controversial Niira Radia tapes, saying it was "not a happy situation" that every government action should only follow court orders. In the tapes, corporate lobbyist Nii...
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Posted Date : 02-Aug-2013 , 07:04:00 am | Posted By CASANSAAR
The Cabinet Committee on Economic Affairs (CCEA) on Thursday approved “dilution” of certain safeguards including relaxing the 30 per cent sourcing norm and dropping the mandatory 50 per cent condition for backend infrastructure investment which were approved by Parliament while allowing ...
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Posted Date : 01-Aug-2013 , 08:20:29 pm | Posted By CASANSAAR
As a measure of taxpayer convenience, Central Board of Direct Taxes (CBDT) has extended the ‘due date’ for filing Returns of Income for A.Y. 2013-14 by Individuals, HUFs and non-auditable cases from 31st July, 2013 to 5th August, 2013. The field offices have been asked to make speci...
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Posted Date : 01-Aug-2013 , 07:53:29 pm | Posted By CASANSAAR
Sub: Revision of syllabus of Group – I – Paper- 4 - Taxation – Part – II andGroup – II – Paper – 7 - Section A: Information Technology ofIntermediate (IPC) Course; and Group – II – Paper – 6 Information Systems Control and Aud...
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Posted Date : 01-Aug-2013 , 08:43:02 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) announced the result of Chartered Accountants Intermediate (IPC) Examination held in May, 2013. DETAILS OF CANDIDATES PASSED IN CHARTERED ACCOUNTANTSINTERMEDIATE (IPC) EXAMINATION HELD IN May – 2013 ...
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Posted Date : 01-Aug-2013 , 08:38:15 am | Posted By CASANSAAR
Securities and Exchange Board of India (Sebi) has reduced the time given for foreign institutional investors (FIIs) to utilise the debt limits purchased in auctions by two days. Sebi has said foreign investors will be permitted to utilise the debt limits allocated to them during...
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Posted Date : 31-Jul-2013 , 08:43:18 pm | Posted By CASANSAAR
The oil marketing companies have raised petrol and diesel prices by 70 paise a litre and 50 paise a litre (excluding taxes), respectively effective Wednesday midnight. “Since the last price change, the international price of petrol has gone up from $117.19/barrel to $120.05/barrel. Th...
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Posted Date : 31-Jul-2013 , 04:58:12 pm | Posted By CASANSAAR
In a major relief to those who could not file their income tax returns today, the Income Tax Department has extended the deadline for filing returns till August 5. The previous deadline was scheduled to expired today. The department had earlier extended the date for filing returns for Uttar...
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Posted Date : 31-Jul-2013 , 01:46:21 pm | Posted By CASANSAAR
The Offline Excel utility for filing half-yearly Service Tax return (ST 3) for the period 1st October, 2012 to 31st March, 2013 is now available in ACES. The same can be downloaded from http://acesdownload.nic.in/. It can also be accessed from 'DOWNLOADS' section of ACES website, ...
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Posted Date : 31-Jul-2013 , 12:24:07 pm | Posted By CASANSAAR
Extension of time to complete GMCS-I Course by the students registered for articleship training between 1st May, 2012 and 31st December, 2012 28th July, 2013 Important Announcement The Council at its 326th Meeting being held from 27th-29th July, 2013 at ICAI Bhawan, New Delhi...
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- NCLT orders insolvency proceedings against Subhash Chandra
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- Payment of MCA fees –electronic mode-regarding
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- File Service Tax Return in time as Maximum Penalty increased 10 times to Rs. 20000
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