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Posted Date : 29-Jan-2013 , 09:03:40 pm | Posted By CASANSAAR
Finance minister P Chidambaram on Tuesday held out an assurance that the Budget next month will be a "responsible" one as general elections are 15 months away. Addressing global investors in London, on the fourth leg of his overseas roadshows that began last week, he told them that the gove...
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Posted Date : 29-Jan-2013 , 09:01:55 pm | Posted By CASANSAAR
The Reserve Bank today slashed its key interest rates by 0.25 per cent to 7.75 per cent . The Chairman of the Prime Minister's Economic Advisory Council, Dr. C. Rangarajan said that cut in interest rate will stimulate investment and help in anchoring inflationary expectations.The RBI Governor, D.Sub...
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Posted Date : 29-Jan-2013 , 08:18:40 am | Posted By CASANSAAR
The fact-finding team of Institute of Chartered Accountants of India (ICAI), which is investigating a Rs100 crore land deal involving its president, is said to be divided over the action to be recommended to the central governing body. City-based CA Jaideep Shah is the current pr...
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Posted Date : 29-Jan-2013 , 08:14:41 am | Posted By CASANSAAR
In a severe blow to multinational corporations ( MNCs) operating in India, a special bench of the Income Tax Appellate Tribunal (ITAT) has ruled that a significant portion of advertising, marketing and promotional (AMP) expenses incurred by their Indian arms to promote the brand and t...
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Posted Date : 29-Jan-2013 , 08:07:31 am | Posted By CASANSAAR
States have agreed to the compensation formula suggested by the Centre for their CST (Central Sales Tax) revenue loss for implementing the Goods and Services Tax (GST), said Sushil Kumar Modi, Chairman of the Empowered Committee of State Finance Ministers, and Deputy Chief Minister of Biha...
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Posted Date : 28-Jan-2013 , 07:28:59 pm | Posted By CASANSAAR
Further to Para 5 of the Press Release dated January 11, 2013 regarding Foreign Direct Investment (FDI) proposals approved by FIPB, wherein it was stated that decision in case of the Five (5) proposals will be communicated separately, the Central Government has now approved the following Four (...
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Posted Date : 28-Jan-2013 , 02:49:59 pm | Posted By CASANSAAR
More than one lakh students join the chartered accountancy course every year with 45 to 50 per cent of them being girls. This was mainly due to the lower education costs for pursuing CA when compared to other professional courses, according to the Institute of Chartered Accountan...
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Posted Date : 28-Jan-2013 , 08:27:58 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) is pushing for exchange of information among tax administrators globally to tap tax leakage in cross-border transactions, even as the government is struggling to contain the fiscal deficit by boosting tax collection and paring expenditure. The foreign ta...
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Posted Date : 27-Jan-2013 , 12:31:52 pm | Posted By CASANSAAR
Aiming to attract first-time stock market investors, Finance Minister P Chidambaram will launch the much-awaitedRajiv Gandhi Equity Savings Scheme (RGESS) in Mumbai on February 9. "He (Chidambaram) is going to Mumbai next month and will formally launch the Rajiv Gandh...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 242
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Posted Date : 27-Jan-2013 , 12:24:46 pm | Posted By CASANSAAR
The government has allowed income tax exemption on 50% of the amount that people/ entities contribute for road safety activities. The road transport and highways ministry notified this recently, though the finance ministry had had approved this in May last year. This is likely to...
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Posted Date : 26-Jan-2013 , 10:34:18 am | Posted By CASANSAAR
Falling prey to an online lottery scam, chartered accountant Pankaj Kumar (name changed), 25, transferred nearly Rs 85 lakh to account numbers provided by the cyber criminals, who duped him by showing frivolous dreams having won lottery money of 10 lakh pounds. Now, all his efforts to cont...
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Posted Date : 26-Jan-2013 , 10:28:22 am | Posted By CASANSAAR
P.Chidambaram, Finance Minister said, "There is an argument that when the eco, the government requires more resources the very rich should willingly pay a little more". Among the options being considered are, one a surcharge on income tax above a significantly high threshold, two rejigging...
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Posted Date : 25-Jan-2013 , 10:10:13 pm | Posted By CASANSAAR
President has approved the conferment of108 Padma Awards. These comprise 04 Padma Vibhushan, 24 Padma Bhushan and80 Padma Shri Awards. 24 of the awardees are women and the list also includes 11 persons in the category of Foreigners, NRIs, PIOs andPosthumous awardees. Padma Awards, the count...
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Posted Date : 25-Jan-2013 , 09:31:28 pm | Posted By CASANSAAR
IMPORTANT ANNOUNCEMENT The results of the Chartered Accountants Professional Competence and Integrated Professional Competence Examinations held in November, 2012 are likely to be declared onTuesday, the 5th February, 2013 around 5.00 P.M. and the same as well as the meritlist (candida...
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Posted Date : 25-Jan-2013 , 08:40:45 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) is expected to reward the government next week for its efforts to reform the economy and bring its finances under control by announcing its first cut in interest rates in nine months. The RBI has been growing in confidence that the governmen...
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Posted Date : 25-Jan-2013 , 05:30:21 pm | Posted By CASANSAAR
In one of the rare direct appointment offers made by public sector banks, all-India chartered accountancy exam topper Prema Jayakumar has been offered a manager’s position in Indian Bank. RARE CASE Prema’s achievement is creditable as she comes from a family with modest means...
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Posted Date : 25-Jan-2013 , 09:03:12 am | Posted By CASANSAAR
The UK's highest court has decided that chartered accountants are not as secret as lawyers, doctors and priests. City A.M. report that the Supreme Court said they are not protected by the same professional privilege. They are not immortal and in fact do not possess any super powers at all....
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Posted Date : 25-Jan-2013 , 09:01:07 am | Posted By CASANSAAR
J Rajasekhar Reddy, a visually-impaired man from Guntur, shows the victory sign after becoming India’s first blind CA in Hyderabad on Tuesday. Devnar Foundation correspondent Jyothi Goud is beside him. | A Radhakrishna The vision to achieve his childhood goal helpe...
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Posted Date : 25-Jan-2013 , 08:36:07 am | Posted By CASANSAAR
A special CBI judge held an income-tax officer of Mumbai guilty Thursday of accepting a bribe of Rs 75,000 and sentenced him to five years rigorous imprisonment. Leeladhar Bangera was caught red-handed by CBI on March 19, 2010, demanding and receiving bribe from Anil Meh...
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Posted Date : 24-Jan-2013 , 06:00:49 pm | Posted By CASANSAAR
The government today asked companies to ensure fair trade practices in their markets and restrain from anti-competitive activities that hurt consumers.To spread more awareness about healthy competition in market place, Corporate Affairs Minister Sachin Pilotalong with officials of fai...
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Posted Date : 24-Jan-2013 , 06:00:02 pm | Posted By CASANSAAR
The Reserve Bank on Thursday hiked FII investment limits in government securities and corporate bonds by $ 5 billion each, taking the total cap in domestic debt to $ 75 billion, with a view to bridging the current account deficit. Further liberalising the norms, the...
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Posted Date : 24-Jan-2013 , 05:56:53 pm | Posted By CASANSAAR
The report on Public Debt Management for the third quarter of 2012-13 (Oct-Dec 2012) has been released by the Ministry of Finance and will be placed on the Ministry’s website i.e. www.finmin.nic.in today. The said report is attached here with as well. &...
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Posted Date : 24-Jan-2013 , 01:26:29 pm | Posted By CASANSAAR
Finance minister P Chidambaram, who has talked about a stable tax regime during his meetings with foreign investors in the last two days, has said that the argument for taxing the very rich "a little more" should be considered. "I believe in stable tax rates. However, i must...
Continue Reading... Category : Budget | Comments : 0 | Hits : 379
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Posted Date : 24-Jan-2013 , 08:54:08 am | Posted By CASANSAAR
Prema Jayakumar, an auto driver's daughter and an unlikely topper in the Chartered Accountancy (CA) exam results announced on Monday, has simple ambitions. She wants to participate in the campus placements — in February and March — and land a job "in a corporate firm or a good bank". She...
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Posted Date : 24-Jan-2013 , 08:05:08 am | Posted By CASANSAAR
RBI has barred foreign institutional investors (FIIs) from buying shares in Pantaloon Retail Ltd, after the company breached the overall limit of 24 percent of its paid-up capital. "No further purchases of shares of this company would be allowed through stock exchanges in India on beh...
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Posted Date : 24-Jan-2013 , 08:01:37 am | Posted By CASANSAAR
Anyone entering the formal sector workforce from March will have to get a UID number before they can enroll with the Employees’ Provident Fund. The EPFO will use Aadhaar to issue individual account numbers to its members, independent of employers. “The Aadhaa...
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Posted Date : 24-Jan-2013 , 07:56:59 am | Posted By CASANSAAR
The finance ministry may tweak tax exemption rules in the upcoming budget to makeinvestments in financial products more attractive than gold, two government officials familiar with the development said. The ministry is planning to raise the 80C exemption limit, under which 1 lakh is ...
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Posted Date : 23-Jan-2013 , 10:59:34 pm | Posted By CASANSAAR
Sebi on Wednesday asked merchant bankers and intermediaries to ensure that disclosures made in all offer documents submitted after March 1, 2013, should be compliant with norms in place for Application Supported by Blocked Amount (ASBA) facility. ASBA facility allows the application money to remain...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 221
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Posted Date : 23-Jan-2013 , 01:04:55 pm | Posted By CASANSAAR
Home loan borrowers who have opted for fixed rates may have easier terms on their mortgages as the Reserve Bank of India has advised banks to revise the penalty structure on prepayments and charge it only on the outstanding amount. It has also recommended that banks should focus on raising...
Continue Reading... Category : RBI | Comments : 0 | Hits : 381
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Posted Date : 23-Jan-2013 , 12:54:07 pm | Posted By CASANSAAR
Rajnath Singh was on Wednesday unanimously elected the new president of Bharatiya Janata Party, succeeding Nitin Gadkari who decided against a second term till he was cleared of alleged corruption charges. A resolution supporting Rajnath Singh as party chief was unanimously adopted by the p...
Continue Reading... Category : General | Comments : 1 | Hits : 277
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- File Service Tax Return in time as Maximum Penalty increased 10 times to Rs. 20000
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