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Posted Date : 04-Jun-2013 , 08:29:40 am | Posted By CASANSAAR
After asking individual taxpayers to declare their assets and liabilities in the new Income Tax Return (ITR) forms, the finance ministry will now tell companies, firms, trusts, as well as political parties, to give more disclosures in the ITR forms to be notified soon for the 201...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 383
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Posted Date : 04-Jun-2013 , 08:27:57 am | Posted By CASANSAAR
In a bid to attract investments, the Punjab government today announced a new industrial policy, offering tax incentives for manufacturing, agriculture, food processing and IT and electronics hardware sectors, assuring faster clearance to the projects. The SAD-BJP led state government also annou...
Continue Reading... Category : VAT | Comments : 0 | Hits : 641
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Posted Date : 03-Jun-2013 , 07:29:29 pm | Posted By CASANSAAR
Students can download online Admit Card for June - 2013 Term Examination by clicking on the link below. Admit Card for JUNE-2013 Term Examination In case of a probelm contact email : exam.helpdesk@icmai.in Help line number: 033-6...
Continue Reading... Category : Students Zone | Comments : 0 | Hits : 354
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Posted Date : 03-Jun-2013 , 05:41:21 pm | Posted By CASANSAAR
In a landmark decision, the Chief Information Commissioner has ruled that all political parties come under the ambit of the Right to Information Act. The ruling provides for greater transparency in the working of the political parties as now the public has the right to get information about their fu...
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Posted Date : 03-Jun-2013 , 05:22:42 pm | Posted By CASANSAAR
Income Tax department has decided to scan the salary structure of top executives of large corporates and PSUs to examine hidden tax opportunities in the perks and reimbursements made to them. The department, during its recent deliberations with top I-T and CBDT officials here, decided to st...
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Posted Date : 03-Jun-2013 , 05:19:09 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) said on Monday in a clarification to queries on new bank licences that the validity of in-principle approval for new banks has been extended to 18 months from one year. RBI issued guidelines in February allowing any type of company to set...
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Posted Date : 03-Jun-2013 , 12:39:04 pm | Posted By CASANSAAR
With the corporate sector, especially multinational firms, flagging off concerns over an aggressive tax department, Finance Minister P Chidambaram has asked officials to tread cautiously while chasing tax evaders and avoid raids as long as possible.Chidambaram, who has assured fo...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 218
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Posted Date : 03-Jun-2013 , 08:36:31 am | Posted By CASANSAAR
Accounting watchdog ICAI has raised concerns over higher threshold limit for bank branches with regard to mandatory audit of their books, asserting that many more of them would be out of the auditing purview. It is seeking the lowering of the limit. "The threshold limit for annual sta...
Continue Reading... Category : ICAI | Comments : 1 | Hits : 1359
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Posted Date : 03-Jun-2013 , 08:31:18 am | Posted By CASANSAAR
In the wake of huge public money being raised through various ponzi schemes, the government has made it mandatory for new companies to give declarations that no funds would be collected without meeting the applicable norms of Sebi, RBI and other authorities. Such declarations w...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 249
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Posted Date : 02-Jun-2013 , 01:51:34 pm | Posted By CASANSAAR
The Penamaluru Police booked a case against Superwhizz CA Coaching Institute management in connection with the suspicious death of a student, Y.V. Harshavardhan Reddy (20). He reportedly died by jumping from the college building on Friday. The police registered case against Superwh...
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Posted Date : 02-Jun-2013 , 01:19:29 pm | Posted By CASANSAAR
To ascertain whether there have been any auditing lapses, accounting watchdogInstitute of Chartered Accountants of India (ICAI) has sought information from serious fraud investigation office (SFIO) on more than 50 companies that are being probed for duping investors through fraudulent...
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Posted Date : 02-Jun-2013 , 01:15:06 pm | Posted By CASANSAAR
The Reserve Bank has extended the deadline for banks to complete the process of allotting a unique customer identification code to their customers, to March 31, 2014. Banks, however, will have to allot the unique customer identification code (UCIC) to all customers while entering ...
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Posted Date : 02-Jun-2013 , 08:53:02 am | Posted By CASANSAAR
Those selling immovable property without disclosing their permanent account number ( PAN) are in for a tough time with the government mandating a 20% tax deduction at source (TDS) in such transactions. The new rules that came into effect from Saturday require buyers of immovable property, ...
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Posted Date : 01-Jun-2013 , 04:40:54 pm | Posted By CASANSAAR
Infosys Ltd. announced on Saturday that its board has appointed founder N.R. Narayana Murthy as Chairman. The decision, taken at a meeting of the board is with immediate effect. The company’s annual general meeting (AGM), scheduled for June 15 is expected to ratify the decision. The r...
Continue Reading... Category : General | Comments : 0 | Hits : 266
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Posted Date : 01-Jun-2013 , 03:50:50 pm | Posted By CASANSAAR
The joy of clearing the IIT entrance exams quickly turned sour for Livleen Kaur when she saw her CBSE results. The 18-year-old was stunned to see that she had failed in three papers - physics, mathematics and biology. What's even more surprising is that two of the subjects - physics a...
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Posted Date : 01-Jun-2013 , 08:55:26 am | Posted By CASANSAAR
The Northern Regional Office of ICAI is arranging Convocation – 2013 on 8th June, 2013 for the Non NCR Members enrolled during the month of March, 2012 to August, 2012. Scripts of Certificate of Membership and Certificate of Practice will be distributed in the presence of ...
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Posted Date : 01-Jun-2013 , 08:29:37 am | Posted By CASANSAAR
Senior IRS officer Sudha Sharma has been appointed as the new Chairperson of the Central Board of Direct Taxes in the Finance Ministry. The orders were issued late today by the ministry, official sources said. The board, also the administrative authority of the Income Tax department, is...
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Posted Date : 31-May-2013 , 08:58:19 pm | Posted By CASANSAAR
Petrol price was today hiked by 75 paisa per litre and diesel by 50 paisa a litre as rupee hit 11-month low making oil imports costlier. The increase in rates, which are excluding local sales tax or VAT, will be effective from midnight tonight, Indian Oil Corp, the nation's largest o...
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Posted Date : 31-May-2013 , 08:05:05 pm | Posted By CASANSAAR
Indian authorities have dismissed Nokia's appeals against an income tax bill of Rs. 2,080 crore, the phone company said on Friday, a setback for its efforts to resolve the dispute in a crucial market. Nokia's India unit was served in March with the tax demand for five years starting from ...
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Posted Date : 31-May-2013 , 07:10:17 pm | Posted By CASANSAAR
Details of Proposals considered in the Foreign Investment Promotion Board (FIPB) Meeting held on 12.04.2013 Following eight (8) proposals&...
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Posted Date : 31-May-2013 , 05:18:24 pm | Posted By CASANSAAR
The Accounting Standards Board of the Institute of Chartered Accountants of India undertakes projects involving formulation of specific Accounting Standards/Indian Accounting Standards, Study of the impact of the Accounting Standards/Indian Accounting Standards and alli...
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Posted Date : 31-May-2013 , 08:08:15 am | Posted By CASANSAAR
Worried over rising NPA, the Reserve Bank today tightened rules forrestructuring of most types of loans in line with global practices. As per the latest RBI notification, provisioning on the newly restructured account has been raised to 5 per cent from June 1 from 2 per cen...
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Posted Date : 31-May-2013 , 08:03:16 am | Posted By CASANSAAR
With few days left to lower promoter holding to 75 per cent in listed private sector firms, Sebi today allowed them to make an announcement for such sale of shares through OFS route just one day in advance. So far the companies had to announced sale of promoters share to meet the guid...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 227
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Posted Date : 30-May-2013 , 03:20:54 pm | Posted By CASANSAAR
EXPOSURE DRAFT OF EXCEL TEMPLATE OF TAXONOMY FOR LIFE INSURANCE COMPANIES AND GENERAL INSURANCE COMPANIES While the filing of the financial statements in XBRL format had begun for certain categories of companies, Insurance Companies were kept outside the purview of XBRL mandate owing to diffe...
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Posted Date : 30-May-2013 , 08:02:36 am | Posted By CASANSAAR
Tightening its noose on those who do not pay taxes, the Income Tax Department is likely to issue notices soon to over 10 lakh non-filers. According to sources, the tax department has prepared a list of non-filers based on their information records. “Our data analysis shows th...
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Posted Date : 30-May-2013 , 07:57:02 am | Posted By CASANSAAR
The Government of India have announced the sale of “New Inflation Indexed Government Stock-2023” for a notified amount of Rs.1,000 crore (nominal) through yield based auction. The auctions will be conducted using uniform price method. The auctions will ...
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Posted Date : 30-May-2013 , 07:51:02 am | Posted By CASANSAAR
With an aim to weed out unauthorised entities giving advice to investors, market regulator Sebi today said anyone seeking to act as an investment adviser would need to first obtain a certificate of registration for the same. As a part of its efforts to make it convenient for...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 386
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Posted Date : 30-May-2013 , 07:44:30 am | Posted By CASANSAAR
The government is examining the possibility of putting in place a formal framework for resolving tax disputes, notably the one with Vodafone, similar to the advance pricing agreements used to resolve transfer pricing cases.While no final decision has been taken, one option is to amend the ...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 598
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Posted Date : 29-May-2013 , 09:50:13 am | Posted By CASANSAAR
Based on the recommendations of a Working Group (WG) to review the norms for empanelment of statutory auditors for public sector banks and other related issues and after seeking the approval of GoI, it has been decided to revise the guidelines on appointmentof statutory auditors in public secto...
Continue Reading... Category : Auditing | Comments : 2 | Hits : 3613
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Posted Date : 29-May-2013 , 08:02:09 am | Posted By CASANSAAR
Income Tax department has issued notices to three top private lenders in the country - ICICI Bank, Axis Bank and HDFC Bank - in connection with alleged money laundering charges levelled by online portal Cobrapost. The department has asked these banks to produce documents for verification as...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 497
- 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
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- CBDT extends due date for filing Form 10A/10AB upto 30th June, 2024
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- 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
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- Maha expects Rs 15 crore entertainment tax revenue from IPL
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- 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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