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  • Tax-free Delhi budget in an election year
    Posted Date : 21-Mar-2013 , 09:00:52 am | Posted By CASANSAAR

    No new tax was levied and chilly spray, desi ghee and LED lights will be cheaper with Delhi government today proposing to reduce or eliminate VAT on them in its budget which focussed on social sector in an election year as Congress seeks a record 4th term in power.   Prese...

    Continue Reading... Category : Budget | Comments : 0 | Hits : 390

  • The A, B, C … of Punjab budget 2013
    Posted Date : 21-Mar-2013 , 08:58:29 am | Posted By CASANSAAR

    Hindustan Times cuts through the jargon and jugglery of the statistics-loaded budget and brings out the key phrases, personalities and political expedients that shaped finance minister Parminder Singh Dhindsa's budget, laying out the SAD-BJP government's growth roadmap for the year ahead. ...

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  • 30% rise in students vying for company secretary jobs
    Posted Date : 21-Mar-2013 , 08:55:53 am | Posted By CASANSAAR

    There is a 30 per cent rise in students vying to pursue a career in company secretaryship in the last three years, according to president of Council of Institute of Company Secretaries of India CS S N Ananthasubramanian.   Addressing reporters here on Monday, he said in the last three years, ...

    Continue Reading... Category : ICSI | Comments : 0 | Hits : 560

  • Sebi allows FIIs to use government, corporate bonds as collateral
    Posted Date : 21-Mar-2013 , 08:49:30 am | Posted By CASANSAAR

    In a move that would help boost flow of overseas funds into Indian capital markets, regulatorSebi today allowed FIIs to offer government securitiesand corporate bonds as collaterals for their cash and derivative transactions on the stock exchanges. FIIs were so far permitted...

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  • Riding on VAT, Punjab aims to mop up Rs 28,524 cr in taxes
    Posted Date : 21-Mar-2013 , 08:42:00 am | Posted By CASANSAAR

    The Punjab government Wednesday set for itself an unprecedented target of tax revenue collection pegged at Rs 28,524 crore for 2013-14. While this alone makes for 66 per cent of the revenue receipts expected in the new fiscal, the state has set a rather lofty challenge for itself.   Encourage...

    Continue Reading... Category : Budget | Comments : 0 | Hits : 324

  • Last date of filing CPT exam form - ICAI Notification
    Posted Date : 20-Mar-2013 , 08:42:51 pm | Posted By CASANSAAR

    NOTIFICATION 20th March,   2013No.13-CA (EXAM)/CPT/ June/2013/II: In partial modification of the Institute’s Notification No.13-CA(EXAM)/CPT/ June/2013 dated 2nd January, 2013, it is notified for general information that the last dateof receipt of duly filled Common Proficiency Test ...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 389

  • More company secretaries will be needed once Bill is passed - ICSI President
    Posted Date : 20-Mar-2013 , 08:57:55 am | Posted By CASANSAAR

    Once the Companies Bill 2012 comes into force it is expected to spur demand for Company Secretaries in a big way, said S. N. Ananthasubramanian, President, Institute of Company Secretaries of India (ICSI).   “As it is, there is a great demand for our members. This will only go up with t...

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  • Despite Sebi glare, Sahara still raises funds
    Posted Date : 20-Mar-2013 , 08:52:54 am | Posted By CASANSAAR

    Even as the Securities and Exchange Board of India (Sebi) is considering how to return funds to Sahara investors, Q Shop retail, Sahara Group’s latest venture, is raising funds from its franchises by charging a stiff non-refundable fee of up to Rs 3 lakh, depending on the classification of a t...

    Continue Reading... Category : General | Comments : 0 | Hits : 348

  • Foreign tourists to get VAT refund on goods bought in Goa
    Posted Date : 20-Mar-2013 , 08:45:10 am | Posted By CASANSAAR

    Foreigners visiting Goa will now get refund of the Value added tax (VAT) on the goods they purchase in the state.  Chief Minister Manohar Parrikar, in a budget presented today, announced this scheme which aims at encouraging shopping by foreign tourists in the coastal state.  "The VAT wi...

    Continue Reading... Category : VAT | Comments : 0 | Hits : 380

  • SEBI issues colour codes, product labelling for mutual funds
    Posted Date : 19-Mar-2013 , 05:22:47 pm | Posted By CASANSAAR

    Market regulator SEBI has issued a framework on ‘product labelling’ with colour coding for mutual funds, a move that would help investors assess the risk associated with the schemes. The guidelines would be effective from July 1, 2013, for all existing and forthcoming schemes, SEBI said...

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  • FM asks banks to recover NPAs from promoters' money
    Posted Date : 19-Mar-2013 , 02:14:20 pm | Posted By CASANSAAR

    Finance Minister P Chidambaram on Monday came down heavily on wealthy promoters of companies that were not servicing bank loans, citing losses. Expressing his concern over a surge in banks’ non-performing assets (NPAs) and cases of restructured accounts, he asked lenders to take stern action f...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 405

  • RBI cuts key policy rate by 0.25%, keeps CRR unchanged
    Posted Date : 19-Mar-2013 , 12:02:26 pm | Posted By CASANSAAR

    In line with expectations, the RBI Tuesday cut its short-term lending rate by 0.25 percent to spur growth and revive investment but sounded a note of caution on further easing of rates on account of high food inflation and current account deficit. "The foremost challenge for returning the economy t...

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  • RBI further extends deadline for issuance of new format cheques
    Posted Date : 19-Mar-2013 , 08:53:55 am | Posted By CASANSAAR

    The RBI asked banks to issue newcheque books only under the new format and gave them time till July-end to withdraw the old format cheques. All cheques currently with customers in the old format (non-Cheque Truncation System) will continue to be valid for another four months (the earl...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 781

  • MCA strengthens efforts to curb money laundering,detect frauds
    Posted Date : 19-Mar-2013 , 08:28:20 am | Posted By CASANSAAR

    With an aim to crackdown on money laundering activities and detect corporate misdoings at an early stage, the Ministry of Corporate Affairs will work closely with the Financial Intelligence Unit besides developing an early warning system at SFIO to detect frauds. Further to strengthen...

    Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 423

  • Sebi introduces automated system for selecting arbitrators
    Posted Date : 19-Mar-2013 , 08:26:26 am | Posted By CASANSAAR

      To enable faster arbitration between market intermediaries, capital market regulator Securities and Exchange Board of India (Sebi) on Monday announced an automated system for selection of arbitrators from a common pool. The automatic process would be triggered in cases where the members...

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  • FinMin plans 100% I-T e-refunds
    Posted Date : 18-Mar-2013 , 05:34:43 pm | Posted By CASANSAAR

    Soon, income tax refunds will be quick and hassle-free, if the finance ministry has its way. The ministry plans to make all refunds directly to the taxpayer's bank account. A permanent account number (PAN) linked with the bank account number, just like Aadhaar, is integral to the Income Tax Departm...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 398

  • Chidambaram: RBI, FinMin starts inquiry into charges of money laundering by employees of 3 pvt sector banks
    Posted Date : 18-Mar-2013 , 01:04:15 pm | Posted By CASANSAAR

    Finance Minister P Chidambaram today said the RBI and finance ministry have started inquiry into charges of money laundering by some employees of 3 private sector banks. Speaking to newsmen after a meeting with the Chief executives of public sector banks and financial institutions in New Delhi, the ...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 343

  • 21-yr-old CA aspirant fails exam, ends life
    Posted Date : 18-Mar-2013 , 08:36:25 am | Posted By CASANSAAR

    A 21-year-old Chartered Accountancy (CA) student allegedly committed suicide by hanging herself on Sunday morning after she failed to clear one of her exams.   A suicide note in which she sought "forgiveness" from her mother was also recovered from her room in an East Delhi hostel.   A...

    Continue Reading... Category : Students Zone | Comments : 11 | Hits : 3113

  • Posting a letter on website is not communication to party: Bombay High Court
    Posted Date : 17-Mar-2013 , 07:20:20 pm | Posted By CASANSAAR

    The Bombay High Court has asked the Registrar of Trade Marks to consider afresh an application by Institute of Cost Accountants of India (ICAI) urging registration of the trade mark " CMA".   A bench comprising justices Mridula Bhatkar and S F Vajifdar said ...

    Continue Reading... Category : General | Comments : 0 | Hits : 487

  • Income tax offices to remain open on March 30, 31
    Posted Date : 17-Mar-2013 , 06:43:46 pm | Posted By CASANSAAR

    Income tax department offices across the country will remain open on March 30 and 31 for taxpayers who want to file their returns and conduct other tax related businesses.   The central board of direct taxes (CBDT) has taken the measure as the last two days of the month are Saturday and ...

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  • Punjab levies entry tax on vehicles bought from other states
    Posted Date : 17-Mar-2013 , 09:11:53 am | Posted By CASANSAAR

    Buying motor vehicles, including car and bikes from other states, including UT Chandigarh will cost more for Punjab-based buyers, as the state government has levied entry tax on vehicles bought from other states and Union Territories (UT). The decision is aimed at preventing loss of tax r...

    Continue Reading... Category : General | Comments : 1 | Hits : 340

  • Caterers in Service Tax Department's net
    Posted Date : 16-Mar-2013 , 06:54:24 pm | Posted By CASANSAAR

    The Service Tax Department officials have conducted searches at the offices and residential premises of five outdoor caterers here and unearthed tax evasion of about Rs 3 crore, department sources said on Saturday.   The searches were conducted at the premises of Lakhani Caterer, Trupti Cater...

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  • HDFC hires Deloitte to conduct forensic audit
    Posted Date : 16-Mar-2013 , 03:37:09 pm | Posted By CASANSAAR

    HDFC Bank on Saturday said it has appointed accounting and audit firm Deloitte Touche Tohmatsu India to carry out an independent forensic enquiry into allegations of some of its officials facilitating money laundering activities.   The bank has also appointed Amarchand & Mangaldas & S...

    Continue Reading... Category : Auditing | Comments : 0 | Hits : 575

  • Lord Shiva worship not a religious act, income tax tribunal says
    Posted Date : 16-Mar-2013 , 08:50:48 am | Posted By CASANSAAR

    Lord Shiva, Hanuman and goddess Durga do not represent any particular religion but are regarded as supernatural powers of theuniverse, the Nagpur income tax appellate tribunal has said. The observation came when the tribunal was hearing an appeal by Nagpur-ba...

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  • Government has launched drive against fake Permanent Account Number (PAN) cards
    Posted Date : 16-Mar-2013 , 08:40:19 am | Posted By CASANSAAR

    The Government has launched drive against fake Permanent Account Number (PAN) cards. As a continuous process, in order to know the genuineness of Know Your Customer (KYC) documents on Proof of Identity (POI) and Proof of Address (POA), third party field verification is conducted after allotment of P...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 531

  • RBI advises banks to issue debit, credit cards with photo
    Posted Date : 16-Mar-2013 , 08:37:24 am | Posted By CASANSAAR

    Banks have been advised by RBI to consider issuing debit and credit cards with photographs of the cardholders to prevent misuse of stolen cards, the Lok Sabha was informed today."Banks have been advised by the RBI that, with a view to reducing the instances of misuse of lost/stol...

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  • New ITR Forms for AY 2013-14 Expected to be notified by end of March, 2013
    Posted Date : 16-Mar-2013 , 08:34:58 am | Posted By CASANSAAR

    New forms for filing of income tax returns for the assessment year 2013-14 are proposed to be notified by the end of this month.   "The new forms for filing the income tax returns for the assessment year 2013-14 are proposed to be notified by the end of March, 2013," Minister of State for Fin...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 554

  • Sebi moves Supreme Court, seeks arrest of Sahara chief Subrata Roy
    Posted Date : 15-Mar-2013 , 06:34:55 pm | Posted By CASANSAAR

    Market regulator, the Securities and Exchange Board of India, has moved the Supreme Court for the arrest of Sahara group founder Subrata Roy. Its petition filed in the top court today also seeks that Mr Roy be prevented from travelling abroad. The Supreme Court will hear Sebi's petition in the firs...

    Continue Reading... Category : General | Comments : 0 | Hits : 394

  • TCS, ICICI Bank paid higher advance tax
    Posted Date : 15-Mar-2013 , 01:28:34 pm | Posted By CASANSAAR

    Information Technology major TCS has declared that it has paid Rs 600 crore as advance tax for the quarter January-March 2013, nearly 10% more than the previous quarter. Last year for the March quarter, the company had paid Rs 545 crore as advance tax, according to information available from the Inc...

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  • Companies can invest in tax-free bonds having high rates: Govt
    Posted Date : 15-Mar-2013 , 07:52:40 am | Posted By CASANSAAR

    The Corporate Affairs Ministry has said companies can invest in tax-free bonds that carry interest rates higher than the prevailing bank rates, a move that would help in attracting more investments into such instruments.   Ambiguity over a clause in the Companies Act -- that disallows corpora...

    Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 379

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