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Posted Date : 05-Feb-2013 , 07:33:53 pm | Posted By CASANSAAR
Finance Ministry today assured taxpayers that efforts would be made to end hostile relationships between officials and assesses and collect revenue in a just and fair manner. Addressing officials of Central Board of Excise and Customs (CBEC) Finance Minister P Chidambaram said in New Delhi...
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Posted Date : 05-Feb-2013 , 07:29:06 pm | Posted By CASANSAAR
Income tax authorities have reopened old cases involving theIndian cricket Board and slapped taxes totalling about Rs. 2,300 crore for seven years after terming all its activities as "commercial", forcing the world's richest cricket body against the wall. Tax assessment cas...
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Posted Date : 05-Feb-2013 , 07:37:47 am | Posted By CASANSAAR
The Securities and Exchange Board of India (SEBI) on Monday revised rules for merger and amalgamation of companies, which requires stricter valuation of entities. In the recent past, SEBI said it “received applications seeking exemption from certain entities containing inadequate...
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Posted Date : 05-Feb-2013 , 07:34:01 am | Posted By CASANSAAR
All Central Excise and Service Tax superintendents will submit their resignations on April 30 over their demand for no promotions, lower salary and lack of working conditions. They have been presenting their case to the concerned authorities regularly for more than two decades...
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Posted Date : 04-Feb-2013 , 08:44:14 pm | Posted By CASANSAAR
Tamil Nadu Chief Minister Jayalalithaa on Monday gave away Rs. 10 lakh to Prema, an auto rickshaw driver's daughter from the state, who topped the nationwide Chartered Accountant examination. She gave the cheque to Prema, who was accompanied by her father and brother, ...
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Posted Date : 04-Feb-2013 , 08:40:01 pm | Posted By CASANSAAR
Global petrochemical and energy giant Shell's Indian arm is gearing up to challenge a recent transfer pricingorder by the income tax department order that has alleged underpricing of Rs 15,000 crores by Shell Indiawhile issuing shares to it's sole parent Shell Gas BV in March, 20...
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Posted Date : 04-Feb-2013 , 05:51:42 pm | Posted By CASANSAAR
Social networking site Facebook on Monday turned nine. Today, Facebook has over one billion active users and the counting is going on rapidly. The most popular social networking site was founded by Mark Zuckerberg and his four friends as a sophomore at the Harvard Unive...
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Posted Date : 04-Feb-2013 , 09:10:47 am | Posted By CASANSAAR
Former India cricket captain Sourav Ganguly has challenged before the Calcutta High Courta service tax claim of over Rs three crore, which was charged during his term with the Kolkata Knight Ridersfor IPL and playing for Team India. "While the original claim is of Rs 1....
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Posted Date : 03-Feb-2013 , 06:43:01 pm | Posted By CASANSAAR
In order to check black money and tax evasion, an online data bank is being setup by theFinance Ministry for effective coordination and dissemination of various inputs pertaining to illegal funds. The online system, which would act as data bank for financial intelligenc...
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Posted Date : 03-Feb-2013 , 06:37:18 pm | Posted By CASANSAAR
RBI's new draft guidelines for restructured loans are likely to hit earnings of banks by at least 3-8 per cent over the next two years, while some public sector banks are expected to get most impacted, a report by Bank of America Merrill Lynch has said. Reserve Bank last week iss...
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Posted Date : 02-Feb-2013 , 02:50:29 pm | Posted By CASANSAAR
Circular No. 158/9/2012-ST dated 08.05.2012 and Circular No.154/5/2012-ST dated 28.03.2012 have been quashed by the Hon'ble High Court of Delhi in W.P.(c) No. 4456/2012 filed by Delhi Chartered Accountants Society (Regd.) and argued by Mr. Ruchir Bhatia, Adv. for Petitioner. By the afo...
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Posted Date : 02-Feb-2013 , 01:57:42 pm | Posted By CASANSAAR
India and Gibraltar have signed a Tax Information Exchange Agreement (TIEA) that among other things calls for transparent sharing of information. The agreement was signed yesterday by Jaimini Bhagwati, High Commissioner of India to the UK from the Indian side and Gi...
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Posted Date : 02-Feb-2013 , 08:57:22 am | Posted By CASANSAAR
Result cards relating to December 2012Common Proficiency Test (CPT) have been sent to the candidates by post, in the normal course, soon afterdeclaration of results. CPT result cards will also be hosted onhttp://icai.nic.in/cptresultcard with effect from December 2012&nb...
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Posted Date : 01-Feb-2013 , 11:15:03 pm | Posted By CASANSAAR
Service tax evasion of a staggering Rs9,800 crore has been detected during the first nine months of the current fiscal, forcing the Tax Department to warn that properties of evaders will be attached. "In many cases, the service providers collect service tax from their clients but do not dep...
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Posted Date : 01-Feb-2013 , 05:07:49 pm | Posted By CASANSAAR
The dates for the presentation of the Union Budget and the Railway Budget were announced on Friday. While the Union Budget will be presented on February 28, the Railway Budget will be present two days earlier on February 26. The Budget session will last from February 21 ...
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Posted Date : 01-Feb-2013 , 04:32:25 pm | Posted By CASANSAAR
RBI has suggested that banks should charge for cash withdrawal and deposit through cheques while the government agencies should do away with convenience charges for online payment of utility bills. As per the discussion paper floated by RBI, high cash withdrawals and deposits of cash by individ...
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Posted Date : 01-Feb-2013 , 04:15:18 pm | Posted By CASANSAAR
The Institute of Chartered Accountants of IndiaBoard of StudiesCommon Proficiency Course (CPC) e-Learning onStudents Learning Management System (http://StudentsLMS.icai.org) The Board of Studies is pleased to announce the availability of e-Learning facility for Common Proficiency Course...
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Posted Date : 01-Feb-2013 , 11:32:05 am | Posted By CASANSAAR
The government will come up with a modified Direct Taxes Code (DTC) Bill after incorporating the suggestions of the Standing Committee on Finance, which among things had suggested raising annual income tax exemption limit to Rs 3 lakh. "Will come out with modified DTC (Bill) in r...
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Posted Date : 01-Feb-2013 , 11:06:40 am | Posted By CASANSAAR
Hyderabad: Mahindra Satyam and Tech Mahindra have started defacto integration process and are only waiting for the legal assent for formal merger, Mahindra Satyam chairman, Vineet Nayar said on Thursday, adding that the process of merger was in the final stage and it would soon ...
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Posted Date : 31-Jan-2013 , 03:12:09 pm | Posted By CASANSAAR
In a set back to the IT multinational, IBM India Pvt Ltd., the Karnataka High Court has cleared the hurdle for the Income-Tax Department to recover Rs 1,090.39-crore tax due from the company by staying the order of the Bangalore Bench of the I-T Appellate Tribunal. ...
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Posted Date : 31-Jan-2013 , 01:35:42 pm | Posted By CASANSAAR
The Corporate Affairs Ministry expects to soon resolve the glitches in its e-governance initiative MCA-21, now being managed by Infosys. IT bellwether Infosys took over the MCA-21 initiative on January 17 from Tata Consultancy Services. In recent days, there h...
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Posted Date : 31-Jan-2013 , 01:28:38 pm | Posted By CASANSAAR
The Income tax (I-T) department probing theNokia tax-evasion case has, in an interim report, said the company should pay Rs 13,000 crore for tax and transfer-pricing violations.A senior Income-tax official, who requested anonymity, told ET, "We have submitted a 150-page interim report...
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Posted Date : 31-Jan-2013 , 01:26:50 pm | Posted By CASANSAAR
The Union Cabinet met today and approved major amendments to the Lokpal bill, the proposed anti-corruption legislation that has seen much debate and sparring between the government and the opposition and civil society. The Bill is likely to be tabled in Rajya Sabha in the budget ...
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Posted Date : 31-Jan-2013 , 09:14:40 am | Posted By CASANSAAR
The controversial Rs 100 crore land deal that had raised questions on adherence ofcorporate governance norms at the Institute ofChartered Accountants of India (ICAI) has finally been quashed. This may be the first instance of a decision taken by an ICAI presid...
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Posted Date : 31-Jan-2013 , 09:08:38 am | Posted By CASANSAAR
The excise department is mulling to appoint cost accountants for calculation of cost data for the auto sector. The development has left the auto industry worried, r The auto industry has very little option at present. The auto sector is hoping that there is going to be a clarification...
Continue Reading... Category : Budget | Comments : 0 | Hits : 650
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Posted Date : 31-Jan-2013 , 09:05:55 am | Posted By CASANSAAR
Finance Minister of India P Chidambaram has exuded confidence that the Rs112 billion Vodafone tax dispute will be resolved within a month. “They (Vodafone representatives) are being invited to a third round of discussions this week... they (Central Board of Direct Taxes) expect them to ...
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Posted Date : 30-Jan-2013 , 11:01:45 pm | Posted By CASANSAAR
Central revenue department officials have detected about Rs 200 crore alleged service taxevasion by a Delhi-based oil and gas exploration service provider firm. Acting on a specific intelligence, a case of allegedservice tax evasion was registered against Shiv Vani Oil and Gas Explora...
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Posted Date : 30-Jan-2013 , 10:59:23 pm | Posted By CASANSAAR
The goods and services tax (GST) is aimed at creating a single, unified market that will benefit both corporates and the economy. With the resolution of the contentious central sales tax compensation issue on Monday, a GST rollout is now closer to reality. Sushil Kumar Modi, chairman of th...
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Posted Date : 30-Jan-2013 , 08:51:08 am | Posted By CASANSAAR
New companies have been unable to get off the ground and existing ones cannot upload mandatory information as a critical government website, MCA 21, has slowed down sharply after a vendor contract switched hands from Tata Consultancy Services (TCS) to Infosys on January...
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Posted Date : 30-Jan-2013 , 08:47:37 am | Posted By CASANSAAR
ERNST and Young will not face any action relating to its work with Lehman Brothers in the year before the bank’s collapse, the Financial Reporting Council ruled yesterday. The Big Four auditor had faced claims it had been too lenient on the bank, signing off their reports in...
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