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Posted Date : 28-Feb-2013 , 01:52:24 pm | Posted By CASANSAAR
The fiscal deficit for the current year has been contained at 5.2 per cent and the fiscal deficit for the year 2013-14 is estimated at 4.8 per cent. Presenting the Budget 2013-14 in Parliament today, the Finance Minister Sh. P. Chidambaram said that the revenue deficit for the current year will...
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Posted Date : 28-Feb-2013 , 01:51:04 pm | Posted By CASANSAAR
The Finance Bill 2013 proposes to bring the modified provisions of General Anti-Avoidance Rules (GAAR) into effect from 1.4.2016. Presenting the Union Budget in the Lok Sabha today, the Finance Minister Shri P.Chidambaram said that Finance Act 2012 introduced GAAR. A number of representations were r...
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Posted Date : 28-Feb-2013 , 01:50:14 pm | Posted By CASANSAAR
The Finance Bill 2013 proposes extension of benefits under Section 80-D of the Income Tax Act to such schemes of the Central Govt and State Govts that are similar to Central Govt. Health Scheme(CGHS). Presenting the Union Budget in the Lok Sabha today, the Finance Minister Shri P.Chidambar...
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Posted Date : 28-Feb-2013 , 01:49:21 pm | Posted By CASANSAAR
To motivate about 10 lakh of those registered assesses of service tax, who are not filing returns and paying tax dues, the Finance Minister has proposed to introduce a one-time scheme called ‘Voluntary Compliance Encouragement Scheme’ in 2013-14 Budget proposals. Under this scheme a defa...
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Posted Date : 28-Feb-2013 , 01:37:38 pm | Posted By CASANSAAR
The Finance Bill 2013-14 proposes to set up a Tax Administration Reforms Commission(TARC). Presenting the Union Budget in the Lok Sabha today, the Finance Minister Shri P.Chidambaram said that proposed Commission will review the application of tax policies and tax laws. TARC will submit pe...
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Posted Date : 28-Feb-2013 , 01:34:45 pm | Posted By CASANSAAR
The Finance Bill 2013-14 proposes levy of TDS at the rate of 1 percent on the value of the transfer of immovable property where the consideration exceeds Rs.50 lakh. However, agricultural land will be exempt. Presenting the Union Budget in the Lok Sabha today, the Finance Minister Shri P.C...
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Posted Date : 28-Feb-2013 , 01:33:48 pm | Posted By CASANSAAR
The Finance Bill 2013-14 proposes levy of Final Withholding Tax at the rate of 20 per cent on profits distributed by unlisted companies to shareholders through buy-back of shares. Presenting the Union Budget in the Lok Sabha today, the Finance Minister Shri P.Chidambaram said some tax avoidance arra...
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Posted Date : 28-Feb-2013 , 01:32:31 pm | Posted By CASANSAAR
The Finance Bill 2013-14 proposes liberalisation of the Rajiv Gandhi Equity Savings Scheme(RGESS) that was launched in FY 2012-13. The first time investors will now be allowed to invest in mutual funds as well as listed shares. This investment can be done not in one year alone, but in thre...
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Posted Date : 28-Feb-2013 , 01:30:48 pm | Posted By CASANSAAR
The Finance Minister Shri P.Chidambaram has taken steps in the budget to ensure adequate capitalization of the public sector banks. The Public sector banks will be provided with an infusion of Rs 14,000 crore additional capital in 2013-14 budget estimates to enable them to meet the BASELIII norms.He...
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Posted Date : 28-Feb-2013 , 01:28:52 pm | Posted By CASANSAAR
Sharing the concerns of the Members of the House for the welfare of the scheduled castes and the scheduled tribes, the Finance Minister Shri P.Chidambaram announced that the Budget has sub plans for them and reiterated that the funds allocated to the sub plans cannot be diverted and must be spent fo...
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Posted Date : 28-Feb-2013 , 01:25:36 pm | Posted By CASANSAAR
The Government is expected to transfer resources to the tune of Rs. 5,87,082 crore for States/ UTs under share of taxes, non-plan grants, loans and central assistance. Announcing this in Lok Sabha today while presenting the Budget 2013-14, the Finance Minister Shri P. Chidambaram said that central f...
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Posted Date : 28-Feb-2013 , 01:23:57 pm | Posted By CASANSAAR
February 28, 2013 Government is determined to plug in the leakages in the implementation of developmental programmes meant for the poor and the deprived of the country. To achieve this, the Government, which made a modest and cautious beginning on the 1st January, 2013, has announced rolling out of ...
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Posted Date : 28-Feb-2013 , 01:23:09 pm | Posted By CASANSAAR
Government has taken a number of initiatives and steps supporting such initiatives being taken by non-government organizations to ensure the dignity and safety of women. In the backdrop of incidences of violence against women which challenges liberal and progressive credentials of our country, the F...
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Posted Date : 28-Feb-2013 , 12:50:33 pm | Posted By CASANSAAR
Chidambaram closes with a Vivekananda quote, informing the House that all that was needed to do something is the will to do it. "We are the 10th largest economy in the world. By 20176 we could become the 7th. By 2021 we could become a $ 5 trillion economy and in the top five. We could becom...
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Posted Date : 28-Feb-2013 , 11:06:01 am | Posted By CASANSAAR
Hon'ble Finance Minister's Presentation of Union Budget in the Parliament on 28th Feb 2013 at 11:00 AM IST. Watch Live Telecast of Union Budget 2013 at 11.00 AM IST. Wait HERE for Live Telecast...
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Posted Date : 28-Feb-2013 , 08:25:17 am | Posted By CASANSAAR
UPA-II's last Budget may offer some sops to salary earners and households as Finance Minister P Chidambaram on Thursday will look to balance the compulsions of growth and fiscal prudence with election year politics. The biggest challenge before Chidambaram, who will be presenting his eighth budget,...
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Posted Date : 28-Feb-2013 , 07:43:12 am | Posted By CASANSAAR
More than 6 Per Cent Growth Forecast for Next Fiscal Considerable Enhancement for Social Sector Spending India on Verge of Creating Quality Jobs to Seize ‘Demographic Dividend’ Indian economy is likely to grow between 6.1% to 6.7% in 2013-14 as the downturn is ...
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Posted Date : 27-Feb-2013 , 07:08:42 pm | Posted By CASANSAAR
After clearing the IKEA's Rs. 10,500 crore FDI proposal, the Finance Ministry today said it has now forwarded the investment plans of Swedish furniture major to set up single-brand retail stores to the Cabinet Committee on Economic Affairs (CCEA) for final approval. "One proposal (of) M/s...
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Posted Date : 27-Feb-2013 , 04:36:18 pm | Posted By CASANSAAR
Indian Railway Catering and Tourism Corporation (IRCTC) has been slapped with a fine of Rs 10 lakh by a consumer forum here for selling soft drinks above the maximum retail price (MRP) to two customers. The New Delhi District Consumer Disputes Redressal Forum imposed “punitive compens...
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Posted Date : 27-Feb-2013 , 03:05:12 pm | Posted By CASANSAAR
Middle and lower level management staff at lenders such as ICICI Bank, HDFC Bank, and IndusInd Bank are probably in for sweet pay increases this year as human resource managers strategise to ward off poaching by new banks. The advent of new banks for the first time in ni...
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Posted Date : 27-Feb-2013 , 02:09:09 pm | Posted By CASANSAAR
Tata Consultancy Services (TCS) will pay $30 million (Rs 163 crore) to settle a sevenyear-old case in the US filed by two former employees, making it the largest employee class action suit settlement by any Indian company. Besides TCS, the case — originally filed in 2006 in Californ...
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Posted Date : 27-Feb-2013 , 02:02:49 pm | Posted By CASANSAAR
ANNOUNCEMENT FOR THE ATTENTION OF THE MEMBERSApplicability of the Revised Audit Report Formats (including for bank/ bank branch audit reports) and Reporting in respect of Memorandum of Changes in Bank Audit Reports 1. Members are requested to note that the audit reports for ...
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Posted Date : 27-Feb-2013 , 08:14:09 am | Posted By CASANSAAR
1. Economic growth: Once considered a rising star in Asia, the Indian economy has lost its shine in recent years. Preliminary estimates released earlier this month by the Central Statistics Office of the government showed growth dwindled to an annual 5 per cent rate in the current fiscal year t...
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Posted Date : 27-Feb-2013 , 08:05:37 am | Posted By CASANSAAR
A bill to amend the SEBI Act to replace the recent Ordinance to widen existing norms related to selection of the presiding officer of Securities Appellate Tribunal (SAT) was introduced in Parliament today. The SEBI Amendment Ordinance 2013 was promulgated on January 21 in th...
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Posted Date : 27-Feb-2013 , 08:01:34 am | Posted By CASANSAAR
The Public Accounts Committee has pulled up the finance ministry for paying interests on income-tax refunds without Parliament approval. The government has refunded Rs 37,365 crore in the last five years as interest, apart from tax refunds. "Parliamentary supervisi...
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Posted Date : 26-Feb-2013 , 08:56:10 pm | Posted By CASANSAAR
A committee has recommended that individual states' central sales tax (CST) compensation claims of earlier years be settled on case to case basis at the earliest to pave way for smooth rollout of GST. "The Committee has recommended that all unsettled CST compensation cases of individual states of e...
Continue Reading... Category : VAT | Comments : 0 | Hits : 344
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Posted Date : 26-Feb-2013 , 05:25:19 pm | Posted By CASANSAAR
Reserve Bank Deputy Governor KC Chakrabarty today said the RBI is open to let realty and brokerages run banks if they meet the "fit and proper criteria" as detailed in the final guidelines. "These are all legitimate businesses...if they can demonstrate that they satisfy all the requirements...
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Posted Date : 26-Feb-2013 , 03:03:10 pm | Posted By CASANSAAR
67 new Express trains to be introduced 26 new passenger services, 8 DEMU services and 5 MEMU services to be introduced Run of 57 trains to be extended Frequency of 24 trains to be increased First AC EMU rake to be introduced on Mumbai suburban network i...
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Posted Date : 26-Feb-2013 , 02:57:45 pm | Posted By CASANSAAR
The Minister of Railways Shri Pawan Kumar Bansal has announced to effect marginal increase in some charges which are in the form of compensation for cost actually incurred by Railways in rendering relevant services. While presenting Railway Budget for 2013-14 in Parliament today he said that th...
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Posted Date : 26-Feb-2013 , 02:57:14 pm | Posted By CASANSAAR
The Minister of Railways Shri Pawan Kumar Bansal has said that a target of 1047 MT of revenue earning originating traffic has been kept for 2013-14, which is about 40 MT more than the current year. The freight earnings target has accordingly been set at Rs 93,554 crore, a growth of 9%. The numb...
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