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Posted Date : 15-Apr-2013 , 05:07:46 pm | Posted By CASANSAAR
The Double Taxation Avoidance Agreement (DTAA) and the Protocol between the Republic of India and Malta for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on income is in force since 8th February, 1995. Both India and Malta have renegotiated the Agree...
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Posted Date : 14-Apr-2013 , 09:03:05 pm | Posted By CASANSAAR
Setting a stiff target for all public sector banks, the Finance Ministry has directed them to expedite the recovery process and bring down net NPAs to 1 % of their total advances by the end of 2013-14 fiscal."We have asked banks to bring down their net NPA to 1 % of the total advances by March 2014,...
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Posted Date : 14-Apr-2013 , 08:18:59 pm | Posted By CASANSAAR
The Income Tax department has decided to name and shame "chronic" tax defaulters by publicising their names and addresses. It is in the process of finalising the procedures of compiling the names and cases pertaining to habitual tax dodgers and subsequently uploading them on its website. "The depa...
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Posted Date : 14-Apr-2013 , 08:17:46 pm | Posted By CASANSAAR
The Reserve Bank is considering easing the fund transfer norms for incorporation of companies by non-residents so as to promote foreign direct investment. Under the new norms being contemplated by the RBI, consultants will be allowed to open bank accounts for the specific purpose of incorporating a...
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Posted Date : 14-Apr-2013 , 08:13:31 pm | Posted By CASANSAAR
The Reserve Bank of India will shortly cancel licences of 26 loss-making cooperative banks, including 16 in Uttar Pradesh, Deputy Governor K C Chakrabarty today said. A capital of Rs2,000 crore is required for running 16 cooperatives banks in the state and RBI may not cancel the licenses of...
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Posted Date : 13-Apr-2013 , 08:20:56 am | Posted By CASANSAAR
ITAT bench spares foreign websites in landmark case. In a landmark ruling, the Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has ruled that no tax is deductible on payments made by Indian companies� to� Google and Yahoo for online advertisement on their...
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Posted Date : 13-Apr-2013 , 08:15:02 am | Posted By CASANSAAR
Yoga guru Baba Ramdev, it seems, is engaged in some ‘exercise’ to save one of his trust’s financial health. The Income Tax department has withdrawn charitable status enjoyed by Ramdev’s Divya Yog Mandir Trust, based in hilly Haridwar district of Uttarakhand, to raise a ...
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Posted Date : 12-Apr-2013 , 09:35:06 pm | Posted By CASANSAAR
April 12, 2013 In view of the amendments to Chartered Accountants Regulations, 1988, practical Training Guide for Articled/ Audit Assistants has been revised. Students, Members and other Stakeholders are requested to offer their comments, if any. While submitting, you are required to state the ...
Continue Reading... Category : Students Zone | Comments : 1 | Hits : 1330
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Posted Date : 12-Apr-2013 , 07:58:31 pm | Posted By CASANSAAR
In a step towards greater transparency, the government has started a unique facility of submitting RTI applications and fees online. The portal -- www.rtionline.gov.in -- has been created with an aim to help people exercise their right to seek information through online medium, sa...
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Posted Date : 12-Apr-2013 , 06:56:39 pm | Posted By CASANSAAR
Age factor of senior members of ICAI reduced from 65 to 60 years for subsidized annual membership fees....
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Posted Date : 12-Apr-2013 , 03:00:36 pm | Posted By CASANSAAR
The government will auction Rs. 29,108 crore in government debt to foreign investors on April 22, according to the website of market regulator Securities and Exchange Board of India (SEBI). This will mark the first auction since India simplified restrictions for foreign investment i...
Continue Reading... Category : International Business | Comments : 0 | Hits : 294
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Posted Date : 12-Apr-2013 , 08:55:53 am | Posted By CASANSAAR
Telecom major Bharti Airtel has been asked to pay Rs 80 crore as service tax under a Customs, Excise and Service Tax Appellate Tribunal (CESTAT) order issued on Thursday. According to the order, the telecom company has to pay the amount for period up to 2009 with regard to the free telephon...
Continue Reading... Category : Service Tax | Comments : 0 | Hits : 306
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Posted Date : 11-Apr-2013 , 07:58:32 pm | Posted By CASANSAAR
April 10, 2013 It is hereby brought to the notice of the examinees and other stakeholders of the Chartered Accountants Examination that any request/correspondence relating to any examination matters be sent/made at the following address necessarily by the examinee himself/herself. Additi...
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Posted Date : 11-Apr-2013 , 05:17:48 pm | Posted By CASANSAAR
Reserve Bank Deputy Governor H R Khan today said the RBI is initiating action against ICICI Bank, HDFC Bank and Axis Bank in connection with allegations of money laundering by Cobrapost. "Actions are on the way. Scrutiny has been done, actions is bei...
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Posted Date : 11-Apr-2013 , 12:09:20 pm | Posted By CASANSAAR
Google has paid a staggering bonus of $100 million to Indian-American executive Neal Mohan, just to keep him from accepting a job at Twitter. Mohan is the man in charge of display ads for Google. He launched and developed the company’s approach and execution for that side of Google&rs...
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Posted Date : 11-Apr-2013 , 09:07:49 am | Posted By CASANSAAR
A two-judge bench of the AP high court on Tuesday stayed the collection ofservice tax from private buses hired by AP State Road Transport Corporation (APSRTC), the state-owned carrier. The bench comprising Justice G Rohini and Justice C Praveen Kumar made the interim order after hearin...
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Posted Date : 11-Apr-2013 , 09:06:18 am | Posted By CASANSAAR
A former Deputy Inspector General of Police was on Wednesday sentenced to five years' imprisonment by the special Anti-Corruption Bureau (ACB) court here for taking bribe from a junior officer for protecting him in a departmental inquiry. "The special court has convicted A K Jain, the then DI...
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Posted Date : 10-Apr-2013 , 08:45:07 pm | Posted By CASANSAAR
1. Preamble and Introduction About Ind AS (IFRS) Implementation Committee Ind AS (IFRS) Implementation Committee (hereinafter referred to as ‘Committee’) is anon-standing Committee constituted by the Institute of Chartered Accountants of India(hereinafter referred to as ‘...
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Posted Date : 10-Apr-2013 , 08:35:41 pm | Posted By CASANSAAR
Corporate Affairs Minister ShRI Sachin Pilot took a meeting of the Official Liquidators (OLs) attached with different High Courts here yesterday to take stock of their work relating to dissolution and winding up of companies. It was observed that there were 4,988 companies awaiting dissolution ...
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Posted Date : 10-Apr-2013 , 07:59:32 am | Posted By CASANSAAR
Reserve Bank of India (RBI) Governor D Subbarao has assured Parliament standing committee on finance that it will take stern action against banks that allegedly facilitated money laundering, the panel's head, Yashwant Sinha, on Tuesday said. "The committee has asked the RBI governor to take stern a...
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Posted Date : 10-Apr-2013 , 07:53:44 am | Posted By CASANSAAR
With the Delhi High Court expected to hear the case of an earlier tax notice of Rs 2,500 crore on cellphone maker Nokia, the income tax (I-T) department seems to be readying another notice for the company, a television channel reported. The notice will be for the failure to pay tax on royalty...
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Posted Date : 09-Apr-2013 , 07:02:55 pm | Posted By CASANSAAR
In order to give overall information to the students who have registered for the Intermediate (Integrated Professional Competence)Course under Direct Entry Scheme and their eligibility to commence practical training and eligibility to appearing in the Intermediate(Integrated Professional Competence)...
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Posted Date : 09-Apr-2013 , 07:00:49 pm | Posted By CASANSAAR
Dear Members,It gives me immense pleasure to inform you that ICAI has recently released the Guidance Note on Report Under Section 92E of the Income Tax Act, 1961 (Transfer Pricing). The law relating to transfer pricing is dynamic and the members of the Institute are getting acquainted with the pract...
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Posted Date : 09-Apr-2013 , 08:20:55 am | Posted By CASANSAAR
The Institute of Cost Accountants of India (ICAI) and the Central Warehousing Corporation (CWC) have inked a Memorandum of Understanding (MoU) earlier this week underwhich ICAI students will receive training in warehousing practices from CWC staff. A ICAI release said that the training impa...
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Posted Date : 09-Apr-2013 , 08:15:44 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) is likely to look into the mechanism used by banks to identify non-performing assets, as the overall level of bad loans in the banking industry has steadily risen in the last financial year. The Institute of Chartered Accountants of India (ICAI) in a recent meeting wi...
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Posted Date : 09-Apr-2013 , 07:59:56 am | Posted By CASANSAAR
As the members undertaking bank central and/ or branch audits of nationalized banks are aware, the Institute of Chartered Accountants of India has prescribed the illustrative formats of audit reports of banks as well as bank branches, which are in line with the requirements of the RevisedS...
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Posted Date : 08-Apr-2013 , 10:18:58 pm | Posted By CASANSAAR
In an unique move, the Institute of Chartered Accountants of India (ICAI), a professional body which conducts the chartered accountancy course in the country, is planning to launch its own 24X7 TV channel to expand reach. “This will be a unique move as the channel will help the studen...
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Posted Date : 08-Apr-2013 , 05:29:31 pm | Posted By CASANSAAR
Amid a fierce regulatory battle with capital markets watchdog Sebi, diversified conglomerate Sahara group has seen three independent members exiting from the boards of its various companies. Those having relinquished their association with Sahara group include RBI's former Deputy Governor Amitabha ...
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Posted Date : 08-Apr-2013 , 10:03:46 am | Posted By CASANSAAR
The Institute of Cost Accountants of India (ICAI) in association with the National Foundation for Corporate Governance (NFCG) has said pursuing good corporate governance practices is indispensable for sustaining any business which is generating long term value for all of its stakeholders. A...
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Posted Date : 07-Apr-2013 , 10:50:46 pm | Posted By CASANSAAR
Concerned over mounting cases of service tax evasion, the Government is mulling to create a separate intelligence unit to check the menace and stop leakage of revenue. The proposed Directorate of Anti Evasion to check service tax evasion is likely to be set up by the Finance Ministry close ...
Continue Reading... Category : Service Tax | Comments : 0 | Hits : 341
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