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Posted Date : 27-Jun-2013 , 08:30:06 am | Posted By CASANSAAR
Sebi's formal recognition on June 25 to a separate class of investors—angel investor funds— resolves to a certain extent the problem of "angel tax". However, if a high networth angel individual invests at a premium in a startup, this tax issue continues to exist. The Finance...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 232
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Posted Date : 27-Jun-2013 , 08:27:23 am | Posted By CASANSAAR
Amid declining value of rupee, the Reserve Bank today relaxed ECB norms and allowed companies to use the overseas debt to pay for import of services, technical know-how and licence fee as part of capital goods imports. Currently, eligible entities can raise ECB (external commercial borrowing) ...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 297
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Posted Date : 26-Jun-2013 , 08:19:53 am | Posted By CASANSAAR
Is an ice-cream a product or a service? Well, you are in for a surprise if you think that it's a product. The tax authorities feel that the ice-cream served by the likes ofAmul, Vadilal, Kwality Walls, Baskin Robbins and a host of others retail vends or parlours constitute a ...
Continue Reading... Category : Service Tax | Comments : 0 | Hits : 1195
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Posted Date : 26-Jun-2013 , 07:17:39 am | Posted By CASANSAAR
Chartered accountant Arun Anandagiri has sought an injunction (compulsory relief) on the annual general meeting of the Western India Regional Council (WIRC) of Institute of Chartered Accountants of India (ICAI) scheduled to take place in Mumbai on Thursday. Anandgiri has fi...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 535
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Posted Date : 26-Jun-2013 , 07:03:03 am | Posted By CASANSAAR
Capital market regulator Sebi has tightened rules for share buybacks by mandating companies to purchase at least 50% of the offer size, failing which they will have to forfeit 2.5% of the total amount earmarked. The Sebi board which met on Tuesday cleared the new b...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 611
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Posted Date : 25-Jun-2013 , 04:28:41 pm | Posted By CASANSAAR
Beginning 1st July, 2013, Customs clearance of all export goods will take place on 24x7 basis from four major Air Cargo Complexes/airports i.e., Bangalore, Chennai, Delhi and Mumbai. Thus, all exports including those made under export incentives scheme as well as duty drawback scheme will now be abl...
Continue Reading... Category : Custom | Comments : 0 | Hits : 310
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Posted Date : 25-Jun-2013 , 01:28:39 pm | Posted By CASANSAAR
Software company Mahindra Satyam became a part of history after it was formally merged with its parent Tech Mahindra on Tuesday to create the country's fifth largest software services firm. The board of Tech Mahindra and Mahindra Satyam had approved the merger on March 21, 2012....
Continue Reading... Category : General | Comments : 0 | Hits : 471
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Posted Date : 25-Jun-2013 , 06:44:00 am | Posted By CASANSAAR
Your taxes are dear to the income tax department, but your returns are even dearer, so the department has ensured that they are kept in world-class safe keeping. Iron Mountain, the safe-keeper of the wills of Princess Diana, Charles Darwin, Bill Gates' Corbis photographic collect...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 493
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Posted Date : 24-Jun-2013 , 06:08:41 pm | Posted By CASANSAAR
Flying in from all corners of the country, braving monsoon rains and traffic jams in Mumbai, the HR chiefs and CEOs of leading companies queued up at a suburban hotel last Friday, with one question in mind: How had they fared in the coveted list- India's Best Companies To Work For. Give...
Continue Reading... Category : General | Comments : 0 | Hits : 375
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Posted Date : 24-Jun-2013 , 02:36:14 pm | Posted By CASANSAAR
A total of 138 members of Pakistan's new National Assembly, including four federal ministers, have either paid no income tax in 2012 or do not figure in official records of tax-payers, according to a media report today. The figure accounts for almost 42.59 per cent of the 324 n...
Continue Reading... Category : International Business | Comments : 0 | Hits : 236
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Posted Date : 24-Jun-2013 , 08:06:42 am | Posted By CASANSAAR
Logged on to www.incometaxindia.gov.in, (you can also log on to incometaxindiaefiling.gov.in) and began by downloading the form. This is where you stumble on the first hurdle. Which form to download – ITR-1 Sahaj or ITR-2? The journey of demystification of filing of income tax return (ITR) thu...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 1370
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Posted Date : 23-Jun-2013 , 09:22:47 pm | Posted By CASANSAAR
BSNL on Sunday started helpline to track pilgrims that went missing in flash floods and landslides in Uttrakhand. BSNL will help the relatives of the victims of Uttrakhand’s natural calamity to track the last mobile phone location of the missing pilgrims. The relatives of the missing pilgrim...
Continue Reading... Category : General | Comments : 0 | Hits : 396
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Posted Date : 23-Jun-2013 , 07:50:27 pm | Posted By CASANSAAR
Government is considering making it mandatory for companies paying advance tax of over Rs 10 crore annually to register with the LTU (Large Taxpayers Unit), a move likely to augment and streamline tax collection. A four-member committee has been set up to look into the various aspects of LT...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 481
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Posted Date : 23-Jun-2013 , 07:31:15 pm | Posted By CASANSAAR
India has been put on a list of HIGH-RISK Asian and African countries whose citizens would be required to deposit a £3,000 cash bond when they apply for a British visa. The money would be forfeited if they overstay. Controversially, the move is targeted only at people from no...
Continue Reading... Category : General | Comments : 0 | Hits : 440
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Posted Date : 23-Jun-2013 , 06:08:33 pm | Posted By CASANSAAR
In a startling revelation, the Central Board of Direct Taxes ( CBDT) has reported that 97 per cent of Income Tax demand arrears, quantified over Rs 4.66 lakh crore, is "difficult" to be recovered. The total arrears amount to be recovered, stuck because of a variety of reasons l...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 300
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Posted Date : 22-Jun-2013 , 06:39:07 pm | Posted By CASANSAAR
At a time when almost every prominent politician has expressed concern over the devastating floods in Uttarakhand and other parts of north India, Congress vice president Rahul Gandhi’s absence and complete silence over the tragedy has led to sharp criticism. The social networking websit...
Continue Reading... Category : General | Comments : 0 | Hits : 294
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Posted Date : 22-Jun-2013 , 02:40:34 pm | Posted By CASANSAAR
Starting June 21, you can pay your passport processing fees online and book an appointment with the passport office. In a major step that would reduce absenteeism of around 20% passport applicants per day, who take appointment but do not turn up and prevent alleged block booking ofappoi...
Continue Reading... Category : General | Comments : 0 | Hits : 1579
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Posted Date : 22-Jun-2013 , 01:40:01 pm | Posted By CASANSAAR
Swiss bank UBS AG has decided to exit from its banking business in India and is planning to surrender its licence to the Reserve Bank of India (RBI) next week. “UBS has decided to exit its fixed income business in India. The bank will continue its equity and investment banking&...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 360
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Posted Date : 22-Jun-2013 , 08:50:29 am | Posted By CASANSAAR
You may soon not need digital signatures to file income-tax returns. The income-tax department is looking at giving electronic pin (personal identification numbers) to taxpayers, which will make electronic return filing a hassle-free task. The new system, which will benefit over t...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 1357
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Posted Date : 22-Jun-2013 , 08:38:36 am | Posted By CASANSAAR
Crime branch's cyber cell arrested a man, Jagat Parikh, on Friday for filing fakeincome tax returns on behalf of BJ Medical College. On interrogation he revealed that he used to have the contract to file IT returns on behalf of the institute for two years. He tried to frame the institute by fil...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 1773
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Posted Date : 21-Jun-2013 , 07:56:52 pm | Posted By CASANSAAR
The service tax department of the Government of India is coming up with a one-time amnesty scheme called Voluntary Compliance Encouragement Scheme (VCES), to benefit service tax defaulters from July this year. In this scheme, the professionals will have to pay their due without any penalty or...
Continue Reading... Category : Service Tax | Comments : 0 | Hits : 602
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Posted Date : 21-Jun-2013 , 07:33:57 pm | Posted By CASANSAAR
The Annual Membership fee/Certificate of Practice fee for the year 2013-14 became due for payment w.e.f. 1st April, 2013 and the last date for payment of the same is 30th June, 2013.We wish to inform you that the Annual Membership fee and Certificate of Practice fee payable is as under:-(i...
Continue Reading... Category : ICSI | Comments : 0 | Hits : 755
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Posted Date : 21-Jun-2013 , 06:19:27 pm | Posted By CASANSAAR
The Indian rupee’s free fall would see both gainers and losers among Indian companies, depending on their business model, foreign debt vis-a-vis earnings and hedging strategies. For instance, according to a Bank of America Merrill Lynch report, rupee depreciation is a positive for ea...
Continue Reading... Category : General | Comments : 0 | Hits : 447
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Posted Date : 21-Jun-2013 , 08:16:04 am | Posted By CASANSAAR
Market regulator Sebi (Securities and Exchange Board of India) has notified guidelines for investment advisers and their 'associated persons', making it compulsory for them to get requisite certifications to operate in the stock markets. The investment advisers and their associated persons,...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 453
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Posted Date : 20-Jun-2013 , 06:14:41 pm | Posted By CASANSAAR
Deposits by Indians in Swiss banks have fallen to a record low level of about Rs. 9,000 crore (1.42 billion Swiss francs) as a global clampdown against the famed secrecy wall of Switzerland banking system made it unattractive for their global clients. The total funds held by Indian indivi...
Continue Reading... Category : International Business | Comments : 0 | Hits : 362
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Posted Date : 20-Jun-2013 , 06:05:33 pm | Posted By CASANSAAR
The Indian rupee slumped to another record low of 59.93 against the dollar on Thursday, after the US Federal Reserve signalled an end to its monetary stimulus that would help in further strengthening of the greenback. The partially convertible rupee opened sharply lower and hit the record l...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 405
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Posted Date : 20-Jun-2013 , 06:17:15 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) will conduct on Thursday an auction for grant of investment limits to foreign investors in government debt securities worth over Rs. 42,000 crore - the biggest sale of G-Secs so far this year. It would be first auction for debt securities ...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 246
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Posted Date : 20-Jun-2013 , 05:50:08 am | Posted By CASANSAAR
The finance ministry may soon clarify that takeaway and home delivery of food will not attract service tax, a move that will be welcomed by the likes of McDonalds, Dominoes and Pizza Hut."The ministry is examining the issue. There is a strong view that takeaways and home deliveries should ...
Continue Reading... Category : Service Tax | Comments : 0 | Hits : 905
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Posted Date : 20-Jun-2013 , 05:47:37 am | Posted By CASANSAAR
Finance Ministry will soon notify implementation of Commodity Transaction Tax (CTT) which will be levied primarily on processed agricultural commodities, including sugar, soya oil and mentha oil. About 11 processed farm commodities would attract CTT, which will be levied at the r...
Continue Reading... Category : Finance | Comments : 0 | Hits : 317
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Posted Date : 19-Jun-2013 , 10:13:26 pm | Posted By CASANSAAR
Further to para 5 of the Press Release dated May 31, 2013, wherein it was stated that decision of the 2 (Two) proposals will be communicated separately, Government has approved 1 Proposal of Foreign Direct Investment amounting to Rs. 7.00 crore approximately. ...
Continue Reading... Category : Finance | Comments : 0 | Hits : 226
- 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
- NFRA Slaps Rs 5 lakh Penalty on Audit Firm for lapses in Vikas WSP Audit Case
- 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
Professional News For CA,CS,CMA.Fresh Accounting News Articles On Income Tax,Service Tax,Sales Tax, Vat,Company Law,RBI,CAG,Custom,Excise On CASANSAAR
