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  • Newly Elected President & Vice-President of ICAI for the year 2013-14
    Posted Date : 23-Jul-2013 , 02:51:35 pm | Posted By CASANSAAR

    Suresh Chandra Mohanty has been elected as the new President of the Institute of Cost Accountants of India (ICAI) for the year 2013-14 in a council meeting held at the institute's headquarters inKolkata.   He succeeds Rakesh Singh. A.S.Durga Prasad has been elected ICAI vice preside...

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  • CBDT Releases ITR 6 for e-filing for AY 2013-14 / FY 2012-13
    Posted Date : 23-Jul-2013 , 10:19:47 am | Posted By CASANSAAR

    CBDT has released ITR 6 for e-filing or Online filing of Income tax Return to be used by a company, other than a company claiming exemption under section 11 for Assessment year 2013-14 or Financial Year 2012-13. The ITR-6 can be downloaded from the following w...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 657

  • Salary earners upto Rs 5 lakh need to file I-T return: CBDT
    Posted Date : 23-Jul-2013 , 08:19:41 am | Posted By CASANSAAR

     Unlike the past two years, salaried persons earning up to Rs 5 lakh annually will have to file income tax returns,CBDT said today. The Central Board of Direct Taxes (CBDT) had exempted salaried employees having total income of upto Rs 5 lakh including income from other sources u...

    Continue Reading... Category : Income Tax | Comments : 2 | Hits : 1803

  • BSNL to start CA entrance coaching
    Posted Date : 23-Jul-2013 , 08:15:48 am | Posted By CASANSAAR

    Bharat Sanchar Nigam Ltd (BSNL) Indore is all set to launch full-time coaching for CA entrance examination -- Common Proficiency Test (CPT) -- by the end of this month, said its officials. This decision was taken after the success of a crash course started in April-June this year, he said. The coa...

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  • RBI imposes fresh restrictions on gold imports to stem rupee slide
    Posted Date : 23-Jul-2013 , 08:11:43 am | Posted By CASANSAAR

    he Reserve Bank of India has made gold imports for domestic consumption tougher and forced exporters to bring home their dollar earnings quicker in yet another attempt to shore up the currency that's hurtling toward the Rs 60 mark to the US dollar again. If any importer of g...

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  • Sebi gets direct powers to attach properties, bank accounts; can order arrest of defaulters
    Posted Date : 23-Jul-2013 , 08:06:45 am | Posted By CASANSAAR

    In a major upgrade of powers given to Sebi, the government has allowed it to pass orders like search and seizure, attachment of properties, arrest and detention of defaulters and pass disgorgement directions to recover the wrongful gains made in contravention of laws.  At the same ti...

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  • RBI starts scrutiny of nearly 3,000 private finance companies
    Posted Date : 22-Jul-2013 , 08:41:43 pm | Posted By CASANSAAR

    The Reserve Bank of India (RBI) has started scrutiny of nearly 3,000 companies which could be carrying out non-banking finance operations without requisite registration, in the wake of concerns about their actual business activities.   The central bank's move comes against the b...

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  • Special IT Return Receipt Counters for Salaried Tax Payers With Income Upto Rs. 5 Lakh
    Posted Date : 22-Jul-2013 , 07:34:35 pm | Posted By CASANSAAR

    The CBDT has, vide notification dated 1-05-2013, made E-filing of Return compulsory for Assessment Year 2013-14 for persons having total assessable income exceeding Five lakh rupees.                 The CBDT ...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 509

  • e-file your Income Tax Returns in 10 steps
    Posted Date : 22-Jul-2013 , 08:33:19 am | Posted By CASANSAAR

    If you have a taxable income of Rs 5 lakh and above, it is mandatory for you to e-file your tax return. An average taxpayer should take roughly 30-40 minutes to key in all the information and upload his return. Here's how to go about it.1Log on to the Income Tax Department's portal (income...

    Continue Reading... Category : Income Tax | Comments : 1 | Hits : 1427

  • Madras High Court upholds VAT provision on input tax
    Posted Date : 21-Jul-2013 , 08:30:41 am | Posted By CASANSAAR

    The Madras High Court has upheld certain provisions of the Tamil Nadu Value Added Tax (VAT) Act which were challenged by dealers of various products/goods.   The dealers were particularly aggrieved by a provision by which authorities sought to treat the discounts that the dealers had obtained...

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  • Parl Committee on Finance finalises GST report
    Posted Date : 20-Jul-2013 , 06:17:24 pm | Posted By CASANSAAR

    The Parliamentary Standing Committee on Finance today finalised its report on Goods and Services Tax (GST) which will be tabled in Parliament in the monsoon session beginning August 5.Sources said the report will be sent to the Parliament today only.The GST Bill, introduced in Parliament in 2010, is...

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  • CBDT moves to limit carry forward of loss forward of losses
    Posted Date : 20-Jul-2013 , 08:18:30 am | Posted By CASANSAAR

    In a move that will limit the carry forward of losses by businesses to reduce their tax liability in subsequent years, the revenue department has issued a ‘departmental view’ on how to set off losses while calculating the taxable income. The circular is in line with a Kerala HC judgment ...

    Continue Reading... Category : Income Tax | Comments : 2 | Hits : 907

  • Detroit becomes largest US city to file for bankruptcy
    Posted Date : 19-Jul-2013 , 09:24:46 pm | Posted By CASANSAAR

    The city of Detroit on Thursday became the largest city in US history to file for bankruptcy protection, court documents showed.   Once the fourth largest US city, Detroit has seen its population shrink by more than half, from 1.8 million in 1950 to 685,000 today, as crime, flight to the subu...

    Continue Reading... Category : International Business | Comments : 0 | Hits : 405

  • Address your tax grievances the traditional way
    Posted Date : 19-Jul-2013 , 07:57:29 am | Posted By CASANSAAR

    Getting across to the income tax (I-T) department when you need to address a complaint or process your refund is often tiresome and long-drawn. However, the department is trying to change this system and quicken the response time to your refund and othergrievances by issuing a unique ...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 488

  • Wary auditors issue 'emphasis of matter' statements to flag likely financial risks
    Posted Date : 19-Jul-2013 , 07:56:24 am | Posted By CASANSAAR

    For investors, it's a new place in an annual report where they can find clues to financial risks facing a company that are currently under the radar but could snowball into something big. For auditors, it's a way to insulate themselves from a future backlash, even censure, on the quality of their au...

    Continue Reading... Category : Auditing | Comments : 0 | Hits : 485

  • Kings XI Punjab co-owners KPH Dream gets service tax notice
    Posted Date : 19-Jul-2013 , 07:47:07 am | Posted By CASANSAAR

    The Central Excise Department today said it has slapped a service tax of Rs 6 crorer on Preity Zinta co-owned KPH Dream Cricket, who are part owners of IPL franchise Kings XI Punjab. "We have served a notice on KPH Dream Cricket, seeking service tax payment of Rs 6 crore," an official of Chandigarh...

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  • Now, women will get share of husband's inherited property on divorce
    Posted Date : 18-Jul-2013 , 07:10:54 am | Posted By CASANSAAR

    A wife will have a share in her husband's inherited or inheritable marital property on divorce, though the exact quantum of the compensation has been left to the discretion of the judge, according to a legislation that was cleared by the Union Cabinet on Wednesday. The Cabinet also cleared the prop...

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  • Filing of income tax return: Special counters to be set up in Delhi
    Posted Date : 18-Jul-2013 , 06:55:33 am | Posted By CASANSAAR

    Special counters for filing of tax returns will be set up in the national capital. The counters would become operational from July 25 till July 31 and will remain open from 10 AM to 5 PM, officials said. July 31 is the deadline for filing of I-T returns by salaried and individual taxpayers. The cou...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 308

  • CBEC to target 12 lakh non-filers of service tax: FM
    Posted Date : 17-Jul-2013 , 03:23:09 pm | Posted By CASANSAAR

    In a stern message to indirect tax evaders, Finance Minister P Chidambaram today said the Revenue Department will target 12 lakh service taxassessees who have stopped filing returns."We are targeting 12 lakh non-filers and stop-filers of service tax," he told reporters after inau...

    Continue Reading... Category : Service Tax | Comments : 0 | Hits : 462

  • Verification / Revaluation / Rechecking of answer books of CA Final/CPT
    Posted Date : 17-Jul-2013 , 12:25:51 pm | Posted By CASANSAAR

    Hi friends....many were worried about results right......??? Though you made the Paper with 100% of your efforts.....results may not be in such a way you imagined......But just wait look here because you will have 2nd chance i.e. I mean verification of your papers. For every stage of CA you have an ...

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  • List of Toppers & Pass Percentage of CA Final May 13 & CPT June 13 Exams
    Posted Date : 17-Jul-2013 , 08:31:57 am | Posted By CASANSAAR

    PERCENTAGE OF CANDIDATES PASSED IN CHARTERED ACCOUNTANTS FINAL EXAMINATION HELD IN  MAY – 2013   The results of the Chartered Accountants Final Examination wasdeclared recently on 16th July, 2013.       &n...

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  • Now, pay service tax on parking in south Delhi
    Posted Date : 17-Jul-2013 , 07:00:46 am | Posted By CASANSAAR

    Parking in any south Delhi area is going to get more expensive, albeit marginally. The reason: You will have to pay a 12.36 per cent service tax every time you park your car in a municipal parking.  This means, after rounding off your tax, if you paid Rs. 10 for 10 hours earlier, you...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 449

  • Over 1.80 lakh job applications for 680 posts in SAIL
    Posted Date : 16-Jul-2013 , 10:08:37 pm | Posted By CASANSAAR

    State-run steel maker SAIL has received job applications from over 1.80 lakh engineering graduates for 640 managerial posts. "The process (of recruitment of engineering graduates) has been attracting high number of applicants from leading institutes across the country,...

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  • Govt allows 100% FDI in telecom, hikes insurance cap to 49%
    Posted Date : 16-Jul-2013 , 09:56:26 pm | Posted By CASANSAAR

    In a major reform push, the government on Tuesday decided to liberalize and hike foreign direct investment (FDI) limits in insurance, retail, telecom, defence and a host of other sectors.   The decision was taken during a meeting of senior cabinet ministers c...

    Continue Reading... Category : International Business | Comments : 0 | Hits : 405

  • The Total Number of Companies in the Official Registry Crosses 13 Lakh
    Posted Date : 16-Jul-2013 , 08:52:05 pm | Posted By CASANSAAR

    The total number of companies in the official Registry of the Ministry of Corporate Affairs has crossed the 13 lakh mark. As on 31.05.2013, there were 13.21 lakh companies in the Registry. Of these, as many as 2.6 lakh companies have been closed for various reasons, such as court order, voluntary wi...

    Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 303

  • DTC bill to be introduced in monsoon session: FM
    Posted Date : 16-Jul-2013 , 02:34:13 pm | Posted By CASANSAAR

    Finance Minister P Chidambaram today said official amendments to the DTC bill, which seeks to overhaul the over 50-year old income tax law, will be introduced towards the end of Monsoon session of Parliament starting August 5.The Direct Taxes Code (DTC) bill was introduced in Lok Sabha in 2010 and S...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 371

  • Good Luck - CA Final & CPT Result 2013 today on caresults.nic.in
    Posted Date : 16-Jul-2013 , 07:58:16 am | Posted By CASANSAAR

    An official notification released by the Institute of Chartered Accountants of India stated that the CA Final and CPT results 2013 would be declared today i.e. 16th July for which the examination were conducted during May & June this year. Candidates who have been anxiously waiting for the resul...

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  • Every district to have Income Tax office by 2013
    Posted Date : 16-Jul-2013 , 07:55:57 am | Posted By CASANSAAR

    Every district in the country will have at least one Income Tax office once the ambitious cadre restructuring of the department is implemented by the end of this year. The proposal was discussed at length and approved at a recent meeting of top I-T and Central Board of Direct Tax...

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  • RBI penalises 22 banks for violating KYC norms, SBI fined Rs 3 cr
    Posted Date : 15-Jul-2013 , 08:47:29 pm | Posted By CASANSAAR

    The Reserve Bank of Indiaimposed penalties on 22 banks for violating rules for customer identification and anti-money laundering, ranging from Rs 50 lakh  to around Rs  3 crore, it said on Monday.   RBI has imposed a total  fine of Rs 49.5 crore, including  SBI,P...

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  • New Rules of Filing Income Tax Returns
    Posted Date : 15-Jul-2013 , 02:34:08 pm | Posted By CASANSAAR

    The tax authorities have introduced several new guidelines for filing returns this year. Find out how these changes are likely to impact you.  First they made it compulsory for businesses to e-file their tax returns. Then they made it mandatory for taxpayers with incomes of over 10 lakh to tak...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 3048

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