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Posted Date : 02-Apr-2013 , 08:03:01 am | Posted By CASANSAAR
Samsung Electronics India Pvt. Ltd, the local arm of multinational consumer electronics firm Samsung Electronics Co. Ltd, is the latest firm to come under the scanner of the income-tax department. The show-cause notice issued on Saturday claims that the firm did not pay taxes on Rs.1,139.2...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 618
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Posted Date : 01-Apr-2013 , 10:09:41 pm | Posted By CASANSAAR
The Central Government in consultation with Reserve Bank of India (RBI) and SEBI has been progressively liberalizing/rationalizing the scheme for foreign investment in G-Secs and Corporate bonds keeping in view the evolving macroeconomic scenario and financing needs of the economy. Till now FII...
Continue Reading... Category : Finance | Comments : 0 | Hits : 367
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Posted Date : 01-Apr-2013 , 10:08:21 pm | Posted By CASANSAAR
Fuel prices have come down. Petrol price was on Monday cut by 85 paise per litre with effect from midnight tonight. The price cut, which was made possible because of fall in international oil prices, is excluding local sales tax or VAT. Now, petrol will cost Rs. 67. 29 per litre in Delhi, 74. 14 p...
Continue Reading... Category : General | Comments : 0 | Hits : 428
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Posted Date : 01-Apr-2013 , 10:38:13 am | Posted By CASANSAAR
Chitra Ramkrishna is set to become the first female head of the National Stock Exchange (NSE) in its nearly 20-year history of operations as a bourse. On Monday, Ramkrishna will take over the reins of NSE, the country’s largest bourse by daily turnover and number of trades, as its Ma...
Continue Reading... Category : Shares & Stock | Comments : 0 | Hits : 1053
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Posted Date : 01-Apr-2013 , 08:42:12 am | Posted By CASANSAAR
Nurturing the ambition to make it big in the finance arena, a 23-year-old Delhi girl has qualified as chartered accountant, cost accountant, and also company secretary, becoming possibly the youngest person to complete all the three professional accounting courses. A file picture of Delhi g...
Continue Reading... Category : Students Zone | Comments : 12 | Hits : 4006
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Posted Date : 01-Apr-2013 , 08:15:04 am | Posted By CASANSAAR
The Srikrishna commission's proposal to form a Unified Financial Agency (UFA) for all financial firms has not gone down well with the Reserve Bank of India (RBI). The central bank has vehemently opposed the proposal, citing different reasons, including lack of focus and unconvincing results abroad....
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Posted Date : 31-Mar-2013 , 07:26:40 pm | Posted By CASANSAAR
Government's stern warning to service tax evaders appears to have yielded results with the realisation rising to Rs 10,453 crore in February, 44 per cent more than collections in the previous month. The revenue department had collected only Rs 7,255 crore as service tax in January. ...
Continue Reading... Category : Service Tax | Comments : 0 | Hits : 325
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Posted Date : 31-Mar-2013 , 07:23:47 pm | Posted By CASANSAAR
The Finance Ministry has asked public sector banks to limit the amount of loan write-offs and sought details of recoveries made by them in the six years ending 2011-12 with an aim to improve the finances of PSU lenders. It has also asked the banks to ensure that the amount written off by ...
Continue Reading... Category : Banking | Comments : 0 | Hits : 306
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Posted Date : 31-Mar-2013 , 09:52:59 am | Posted By CASANSAAR
The scope of service tax amnesty scheme - Voluntary Compliance Encouragement Scheme (VCES) may be relaxed and expanded to include current assesses. According to officials, the scheme as announced in the Union Budget 2013 was only for non-filers who are currently out of the service tax net. Bu...
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Posted Date : 30-Mar-2013 , 06:42:10 pm | Posted By CASANSAAR
The auditors of the crisis-ridden Deccan Chronicle Holdings Limited (DCHL) have raised serious doubts over the company's ability to continue as a 'going concern' in light of the various uncertainties hanging over the company. These doubts have been expressed in the audited report...
Continue Reading... Category : Auditing | Comments : 0 | Hits : 617
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Posted Date : 30-Mar-2013 , 08:02:38 am | Posted By CASANSAAR
Names of Audit Firms approved for appointment as Central Statutory Auditors in 25 Public Sector Banks for the year 2012-13 :- Allahabad Bank, Kolkata 1 M/s N K Bhargava & Co, New Delhi 2 M/s M C Jain &am...
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Posted Date : 30-Mar-2013 , 08:01:08 am | Posted By CASANSAAR
Canara Bank, ICICI Bank, Axis Bank and 10 other lenders to Deccan Chronicle Holdings (DCH) are likely to soon meet soon to decide on their future course of action. The ailing media group, which publishes Deccan Chronicle, Asian Age, Financial Chronicle and Andhra Bhoomi newspapers, has defaulted on ...
Continue Reading... Category : RBI | Comments : 0 | Hits : 338
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Posted Date : 30-Mar-2013 , 07:51:56 am | Posted By CASANSAAR
The income-tax department is all set to issue a draft order estimating a tax liability of more than Rs 15,000 crore on Shell India due to alleged undervaluation of shares when it raised money from its global parent Shell Gas BV a few years ago. The Transfer Pricing wing of the I-T departme...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 381
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Posted Date : 29-Mar-2013 , 08:39:00 am | Posted By CASANSAAR
Seeking to encourage Research and Development (R&D) activities in the IT sector, theCBDT today issued circulars to streamline the taxation rules in line with the recommendations of theRangachary Committee. The circulars, issued with relation to the applicabilit...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 396
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Posted Date : 29-Mar-2013 , 07:51:42 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Thursday postponed the implementation of Basel-III regulations for the currency derivatives segment to next January, pending resolution of norms regarding trade settlement, even as it said the new capital adequacy requirements could kick in from Sunday. "In view o...
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Posted Date : 29-Mar-2013 , 07:47:03 am | Posted By CASANSAAR
Amid government efforts to track black money stashed abroad, India today signed a Tax Information Exchange Agreement with Liechtenstein. "India and Liechtenstein have signed a Tax Information Exchange Agreement (TIEA) today at Bern, Switzerland," the Finance Ministry sa...
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Posted Date : 28-Mar-2013 , 08:20:35 pm | Posted By CASANSAAR
All Offices under the Central Board of Excise and Customs (CBEC) shall be open on 29th, 30th & 31st March, 2013 observing their normal office hours, as a part of trade facilitation measure. Reserve Bank of India (RBI) has also decided that all designated branches of agency banks and RBI off...
Continue Reading... Category : General | Comments : 0 | Hits : 268
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Posted Date : 28-Mar-2013 , 08:00:52 pm | Posted By CASANSAAR
The income tax department has slapped a Rs 2,000 crore tax notice on Finnish mobile firm maker Nokia for alleged tax evasion on royalty payment by the Indian arm to the parent for downloading of software to manufacture mobile devices. Nokia, in turn, has got an interim stay from the Delhi High cour...
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Posted Date : 28-Mar-2013 , 01:09:00 pm | Posted By CASANSAAR
A huge cyber-attack dubbed as “the biggest” of its kind in history slowed the Internet around the world. Internet spam filter Spamhaus, a site that ‘black-lists’ service providers suspected of offering refuge for spammers, is the target of the unique attack. Spamh...
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Posted Date : 28-Mar-2013 , 08:45:59 am | Posted By CASANSAAR
The BRICS bank, the setting up of which was approved by the group's leaders today, could become a World Bank in future due to the increasing influence of emerging countries, chairman of Goldman Sachs Asset Management said today. "If, in fact, the BRICS bank is announced, this will be the beginning ...
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Posted Date : 28-Mar-2013 , 08:41:24 am | Posted By CASANSAAR
Tax authorities will intensify their efforts to crack down on unaccounted-for money stashed overseas by seeking information from their counterparts in other countries. A recent letter issued by the Chairperson, Central Board of Direct Taxes (CBDT) bears testimony to this intention. To en...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 289
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Posted Date : 27-Mar-2013 , 05:36:25 pm | Posted By CASANSAAR
A number of companies in the real estate sector, hotel industry, security services and recruitment services operating from Bangalore have been found to be evading payment of service tax. The audit and anti-tax evasion teams of the Department of Service Tax have detected these evasions running up to ...
Continue Reading... Category : Service Tax | Comments : 0 | Hits : 345
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Posted Date : 26-Mar-2013 , 09:02:53 pm | Posted By CASANSAAR
SEBI Tuesday summoned Sahara group chief Subrata Roy and three other top executives on April 10, to finalise the list of assets to be sold for refund of an estimated Rs 24,000 crore to about three crore investors. Ahead of their personal appearance, Roy and others would need to submit details of al...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 329
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Posted Date : 26-Mar-2013 , 06:31:07 pm | Posted By CASANSAAR
No.13-CA(Exam)/M/2013/II: In partial modification of the Institute’s Notification No. 13-CA(Exam)/M/2013 dated 19th December, 2012, it is notified for general information that in view ofthe Election to the Karnataka State Legislative Assembly, Group – 1, Paper 2, Strategic FinancialManag...
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Posted Date : 26-Mar-2013 , 06:17:16 pm | Posted By CASANSAAR
The main objective in developing this proposal is to provide users of financial statements with more useful information about the expected credit losses on financial assets and on commitments to extend credit. This objective is addressed through the proposed model, which provides information about e...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 199
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Posted Date : 26-Mar-2013 , 03:03:16 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on March 6, 2013, the Government has approved six (6) Proposals of Foreign Direct Investment (FDI) amounting toRs.732.77 croreapproximately. Details of Proposals considered in the Foreig...
Continue Reading... Category : International Business | Comments : 0 | Hits : 304
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Posted Date : 26-Mar-2013 , 11:35:51 am | Posted By CASANSAAR
Modified version of the Service Tax Return (ST-3) for the quarter July-September, 2012 is now available for uploading to ACES . Only offline version is available and there is no online version. The utility needs to be downloaded afresh from ‘DOWNLOADS’ section of ACES ...
Continue Reading... Category : Service Tax | Comments : 0 | Hits : 1731
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Posted Date : 26-Mar-2013 , 08:29:11 am | Posted By CASANSAAR
Plz find below the Bank wise list of CA firms which are approved / Empaneled for Statutory Branch Audit for Financial Year 2012-13. Plz click on any bank which you want to check. Public Sector Banks – 2012-13 Allahabad Bank Andhra Bank Bank o...
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Posted Date : 26-Mar-2013 , 08:28:53 am | Posted By CASANSAAR
With various hurdles, including legal ones, hampering its merger with Tech Mahindra, the board of Satyam Computer Serviceshas extended the validity of the scheme of amalgamation by six months till September 30. Bombay High Court has already approved the scheme, but the Andhra Pradesh High C...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 310
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Posted Date : 26-Mar-2013 , 08:13:03 am | Posted By CASANSAAR
Gujarat, Madhya Pradesh, Bihar and Karnataka, the states that are pulling out all stops to increase infrastructure investment especially in the roads, ports and some categories of the power sector, are likely to be the most immediate political beneficiaries of a purely economic move by the Reserve B...
Continue Reading... Category : RBI | Comments : 0 | Hits : 253
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- 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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