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Posted Date : 06-May-2013 , 08:38:06 am | Posted By CASANSAAR
Last year, the taxman sent out 1 lakh tax notices to a list of 12 lakh persons identified as not filing their annual returns even though their expenditure patterns suggested the need to pay taxes. Based on data collected from a variety of sources — annual information returns or AIR in tax jarg...
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Posted Date : 06-May-2013 , 08:36:52 am | Posted By CASANSAAR
Stepping up its effort to unearth black money, the finance ministry has detected unaccounted income and assets worth over Rs 1,400 crore during the first three months of this year. The detection came to light after Financial Intelligence Unit (FIU), an agency tasked with analysing a...
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Posted Date : 06-May-2013 , 07:53:27 am | Posted By CASANSAAR
CBDT has vide Notification No.NOTIFICATION NO. 34/2013, DATED 1-5-2013 provided that where an assessee is required to furnish a report of audit under sections 44AB, 92E or 115JB of the Act, he shall furnish the same electronically. Online filing of following audit reports shall ...
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Posted Date : 06-May-2013 , 07:51:42 am | Posted By CASANSAAR
Mandatory e-filing of return if income exceeds Rs. 5,00,000 or assessee claims relief U/s. 90, 90A or 91 CBDT has vide notification No. 34/2013 dated 01.05.2013 has made it mandatory for the following category of the Assesses to file their Income Tax Return Online from...
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Posted Date : 05-May-2013 , 05:20:55 pm | Posted By CASANSAAR
Amid growing risks of staff-driven security threats and corporate frauds, companies have begun conducting regulatory, compliance and criminal record checks of people seeking jobs with them and are also scanning the social media platforms for due diligence, say experts. Apart from the practi...
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Posted Date : 05-May-2013 , 08:32:19 am | Posted By CASANSAAR
Public sector banks are now planning to appeal in the Supreme Court against the restriction imposed on hiring from business schools. A recent ruling by the Bombay High Court had said restrained campus recruitment for appointment of officers by Central Bank of India. M V Tanksale, chairman and manag...
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Posted Date : 05-May-2013 , 08:13:01 am | Posted By CASANSAAR
The apex also said detailed guidelines on the same will be issued by the end of the month. Amid a steep fall in gold prices recently and the resultant risks to the system, RBI today further tightened screws on gold loans by banks, restricting them to finance import of the precio...
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Posted Date : 05-May-2013 , 08:06:45 am | Posted By CASANSAAR
Amid instances of people getting duped by fraudulent money pooling schemes, the Institute of Cost Accountants of India ( ICAI) today suggested a simple format for collecting financial data that would help the public to have a better understanding about the activities of companies.&nbs...
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Posted Date : 04-May-2013 , 08:30:34 am | Posted By CASANSAAR
Sending a strong message to the Haryanvi society which is known for its obsession towards the male child, daughter of a Rohtak-based chartered accountant ranked fifth in the civil services examination. Ruchika Katyal's achievement has brought laurels to Mansarovar locality, and people are cel...
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Posted Date : 04-May-2013 , 08:13:20 am | Posted By CASANSAAR
Holding that bigamy is 'moral turpitude', the Madras high court has upheld the ban on a chartered accountant from practising on the ground of bigamy. P Mohanasundaram, a Chennai-based chartered accountant, was removed from the register by the Institute of Chartered Accountants of India in ...
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Posted Date : 04-May-2013 , 07:45:04 am | Posted By CASANSAAR
We have uploaded below ITR 1- Sahaj, ITR 2, ITR 3, ITR-4, SUGAM (ITR-4S), ITR 5, applicable for Assessment year 2013-14 and Financial Year 2012-13. Popular key words - ITR Excel Format, ITR for A.Y. 2013-14, ITR for F.Y. 2012-13, ITR for Assessment...
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Posted Date : 04-May-2013 , 07:39:03 am | Posted By CASANSAAR
The Reserve Bank of India has asked banks to bring in metropolitan areas under the lead bank scheme for the first time, a move aimed at providing to the urban poor doorstep banking and direct transfer of cash benefits under social welfare programmes. Financial exclusion is not merely a rural ph...
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Posted Date : 04-May-2013 , 07:37:37 am | Posted By CASANSAAR
Capital market regulator Sebi is trying to find a way to regulate large investors who place their trading servers within the exchange premises to gain a split second advantage - a practice that makes markets more vulnerable to flash crash. Better known as co-location, stock exchanges and o...
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Posted Date : 04-May-2013 , 07:32:37 am | Posted By CASANSAAR
The Government proposes to provide 15% concession on investment of more than Rs. 100 crore on project and automation in manufacturing sector of the country from 1st April, 2013 to 31st March, 2015. In order to encourage substantial investment in plant or machinery, the Finance Bill, 2013 propos...
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Posted Date : 04-May-2013 , 07:31:10 am | Posted By CASANSAAR
Death-cum-Retirement Gratuity is paid to Central Government employees under New PensionSystem (NPS) as it is paid under the old pension scheme. The monthly annuity under the New Pension System (NPS) is only a replacement of pension on retirement and family pension of death after reti...
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Posted Date : 03-May-2013 , 10:25:18 pm | Posted By CASANSAAR
INCOME-TAX (THIRD AMENDMENT) RULES, 2013 – AMENDMENT IN RULE 12 & SUBSTITUTION OF FORMS SAHAJ (ITR-1), ITR-2, ITR-3, SUGAM (ITR-4S), ITR-4 AND ITR-V NOTIFICATION NO. 34/2013 [F.NO.142/5/2013-TPL]/SO 1111(E), DATED 1-5-2013 In exercise of the ...
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Posted Date : 03-May-2013 , 03:38:22 pm | Posted By CASANSAAR
Bollywood producer Ekta Kapoor's firm Balaji Telefilms has been found guilty of tax evasion of upto 30 crores. Three days ago, nearly 100 income tax officers raided the home and offices of Ms Kapoor in Mumbai. When she was interrogated, sources said that Ms Kapoor, whose father Jeetendra is a famo...
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Posted Date : 03-May-2013 , 11:25:35 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) in its Monetary Policy Statement for 2013-14 cut repo rate by 25 basis points. The Cash Reserve ration ( CRR) was maintained at 4%. Most economists in an ET poll had already factored in a 25 basis points rate cut. On Thursday, R...
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Posted Date : 03-May-2013 , 09:02:25 am | Posted By CASANSAAR
The ministry of corporate affairs (MCA) has organised a meeting in Mumbai with chartered accountants (CAs), company secretaries (CSs) and cost accountants to understand performance issues with its MCA21 portal. The interactive meeting would take place on 6 May 2013...
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Posted Date : 03-May-2013 , 08:54:58 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) has fined Reliance Industries group entity Reliance Petroinvestments (RPIL) Rs 11 crore for violating insider trading norms in the shares of erstwhile IPCL before its merger with RIL. "It may be concluded that by virtue of RPIL having contro...
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Posted Date : 02-May-2013 , 08:11:54 pm | Posted By CASANSAAR
India's strong dependence on external and short term debts for financing current account deficit remains a concern even as the deficit may be moderated in the fourth quarter due to fall in global commodity prices. Reserve Bank of India said volatility in such flows remains ...
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Posted Date : 02-May-2013 , 08:09:46 pm | Posted By CASANSAAR
In a strong message to tax evaders, the government today said that it will step up efforts to bring more people into net and also endeavour to recover tax arrears. "Between January and March...we issued notices after mining the data and thanks to the advertising campaign, I have added 50 la...
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Posted Date : 02-May-2013 , 08:05:43 pm | Posted By CASANSAAR
In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.40/2013-CUSTOMS (N.T.), dated the 18th April, 2013 vide number S.O.993 (E)...
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Posted Date : 02-May-2013 , 05:29:52 pm | Posted By CASANSAAR
The Northern Regional Office of ICAI is arranging Convocation – 2013 on 17th May, 2013 for the 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 the President and Vice-...
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Posted Date : 02-May-2013 , 08:55:23 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has said chit fund companies which defraud people show the financial system’s failure to bring unbanked population into the formal system. “The fact that people have to rely on such entities (chit funds) for their saving needs indicates a failure on the p...
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Posted Date : 02-May-2013 , 08:51:35 am | Posted By CASANSAAR
The Finance Ministry has asked private sector insurer ICICI Prudential to cough up over Rs 130 crore for alleged evasion through non-payment of service tax. The Directorate General of Central Excise Intelligence (DGCEI) has issued a show-cause-cum-demand-notice recently to the firm alleging irregul...
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Posted Date : 02-May-2013 , 08:47:30 am | Posted By CASANSAAR
After getting cornered by the Supreme Court for scams and controversies for quite some time, the UPA government on Wednesday had something to cheer about with the apex court upholding the constitutional validity of its decision allowing 51% foreign direct investment in the multi-...
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Posted Date : 02-May-2013 , 08:01:52 am | Posted By CASANSAAR
Currently, sale in cash of bullion (excluding coin or any other article weighing 10 grams or less) in excess of Rs 2 lakh or jewellery in excess of Rs.5 lakh is subject to Tax Collection at Source (TCS) @ 1%. As coins were neither included in bullion nor in jewellery, therefore, coins, even when amo...
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Posted Date : 01-May-2013 , 05:40:22 pm | Posted By CASANSAAR
CLCGC/V/1/2013 April 22nd, 2013 Certificate Course on Valuation, Examination to be held on 26th May, 2013 Dear Participants;Written Exams to be held on 26th May, 2013 (Sunday) from 10 AM to 1 PM . Please bring your membership card / Final year mark sheet as ID proof ...
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Posted Date : 01-May-2013 , 01:02:54 pm | Posted By CASANSAAR
Tremors were felt in parts of North India as a mild earthquake hit Jammu and Kashmir. The epicentre of the earthquake, measuring 5.8 on the Richter scale, was the border of Jammu and Kashmir and Himachal Pradesh. Tremors were felt in parts of North India including New Delhi and Punjab. Peop...
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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
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
