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Posted Date : 10-Jan-2013 , 01:59:31 pm | Posted By CASANSAAR
Government today approved 12,200 crore rupee recapitalisation programme for public sector banks. The decision was taken in a Cabinet meeting held in New Delhi today.The recapitalisation programme has been undertaken with a view to redress the financial health of public sector banks. &nbs...
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Posted Date : 10-Jan-2013 , 01:45:44 pm | Posted By CASANSAAR
A study commissioned by the government last year on quantifying black money generated in the country has estimated that the illicit wealth is likely to exceed 10% ofGDP or anywhere above Rs 10 lakh crore, given the size of the economy. The 1,000-page report was submitted to the...
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Posted Date : 10-Jan-2013 , 09:18:38 am | Posted By CASANSAAR
Good news for all individuals and companies facing difficulties in taking legitimate tax credits in India for the tax paid in other countries: The hassles in taking credit from the Income-Tax Department for the tax payments on their income in other countries is set to subside. The Central B...
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Posted Date : 09-Jan-2013 , 08:36:27 pm | Posted By CASANSAAR
The Revenue department will soon send a reply to Vodafone over the representation received from the company on its rejoinder notice. The notice had asked the British firm to clear the tax dues, estimated at around Rs 11,200 crore. “We will be replying to Vodafone’s reply to our ...
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Posted Date : 09-Jan-2013 , 08:34:22 pm | Posted By CASANSAAR
The Companies Bill, 2012, as passed by the Lok Sabha on 18th December 2012 is now available on the website of the Ministry of Corporate Affairs at www.mca.gov.in . The Bill is proposed to be considered and passed by the Rajya Sabha in the coming Budget Session of the Parliament. The Rules to be...
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Posted Date : 09-Jan-2013 , 08:27:13 pm | Posted By CASANSAAR
The Supreme Court of India has rejected an appeal by the Sahara conglomerate seeking a review of the court's order last year to repay billions of dollars it raised from small investors by selling outlawed bonds, according to an order posted on the court's website. A spokesman for Sahara, ...
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Posted Date : 09-Jan-2013 , 03:57:52 pm | Posted By CASANSAAR
In a move to regulate mutual fund distribution business, SEBI on Wednesday said it has notified regulations to set up a Self Regulatory Organisation (SRO) to monitor distributors of mutual fund and portfolio management products. “...the Securities and Exchange Board of India...
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Posted Date : 09-Jan-2013 , 03:49:42 pm | Posted By CASANSAAR
Train fares will be increased from midnight January 21, said Railways minister Pawan Kumar Bansal. The price of train tickets had not been increased for a decade, he said. The minister said the fares, which he described as modest and reasonable, will not be increased when the Railways Budget i...
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Posted Date : 09-Jan-2013 , 11:00:07 am | Posted By CASANSAAR
There is a prima facie case against Nokia India on income-tax default to the tune of Rs 2,500 crore to Rs 3,000 crore, the Income-Tax Department concluded after its investigation at the company's Sriperumbudur factory. The I-T department officials concluded their investigation after a 24-ho...
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Posted Date : 08-Jan-2013 , 08:17:47 pm | Posted By CASANSAAR
Income Tax department officials today conducted a survey operation on the premises of Finnish cellphone major Nokia in Chennai on charges of alleged tax evasion. Sources in the department said the survey operation was conducted at the company's premises in the Tamil Nadu capital (unde...
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Posted Date : 08-Jan-2013 , 01:47:46 pm | Posted By CASANSAAR
The Supreme Court today issued a notice to megastar Amitabh Bachchan on a petition from the Income Tax department. The IT department says the megastar owes 1.66 crores in taxes for his show Kaun Banega Crorepati for the year 2002-03. In July 2012, the Bombay High Court had granted r...
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Posted Date : 08-Jan-2013 , 12:12:55 pm | Posted By CASANSAAR
Prime Minister Manmohan Singh has warned that the government must raise diesel, kerosene and cooking gas prices in a phased manner as India's fuel prices are well below international prices. Sources have told Network 18 that the government may consider hiking diesel prices by Rs 2 to 3 per...
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Posted Date : 08-Jan-2013 , 09:24:07 am | Posted By CASANSAAR
The Institute intends to draw a Panel from amongst its Members for acting as Observer atthe examination centres in various cities during the Chartered Accountants Examinations tobe held from 2nd to 16th May, 2013 and the Common Proficiency Test to be held on 16thJune, 2013 (Sunday). ...
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Posted Date : 08-Jan-2013 , 09:20:07 am | Posted By CASANSAAR
The corporate bond market was in for a boost on Monday as the Reserve Bank of India (RBI) allowed repo transactions in commercial papers (CPs), certificates of deposits (CDs) and non-convertible debentures (NCDs) maturing in less than one year. While companies issue CPs, banks issue CDs to ...
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Posted Date : 07-Jan-2013 , 10:58:26 pm | Posted By CASANSAAR
Bankers demanded that lock-in period for tax saving deposits be brought down to three years from five years to channelise more funds into the banking sector. In a pre-budget consultation with Finance Minister P Chidambaram, bankers also sought permission to issue tax-free bonds like other financial ...
Continue Reading... Category : Budget | Comments : 0 | Hits : 395
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Posted Date : 07-Jan-2013 , 10:56:35 pm | Posted By CASANSAAR
The government is likely to approach parliament next month to water down retrospective tax rules that damaged investor confidence, two finance ministry officials said on Monday, a move that may help settle British-based Vodafone Group Plc's long-runnning $2 billion tax dispute. Vodafone, the larg...
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Posted Date : 07-Jan-2013 , 10:54:53 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) today said it has cancelled registration of two non-banking financial companies — Emcorp Finance Ltd andCare Credit and Investments Company Pvt Ltd. “Following cancellation of the registration certificate the companies cannot transa...
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Posted Date : 07-Jan-2013 , 09:49:01 am | Posted By CASANSAAR
A shortfall in the tax deducted at source (TDS) because of a bonafide error in applying the provisions of the Income-tax Act, is not a valid reason to disallow the entire amount, according to a recent judgment by the Calcutta High Court. The division bench that made the ruling comprised Jus...
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Posted Date : 07-Jan-2013 , 09:45:33 am | Posted By CASANSAAR
The Service Tax Tribunal has ruled in favor of actress Katrina Kaifand the lady has been discharged from any tax liability. Earlier, the Indian Service Tax Department had filed a demand notice of Service Tax Recovery on actress Katrina Kaif for her advertisement and modeling ...
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Posted Date : 07-Jan-2013 , 08:48:21 am | Posted By CASANSAAR
As per internal Sources Reserve Bank of India has decided to stick to 6 crores limit for March 2013 Statutory Branch Bank Audits. As per the reliable source, in spite of clearance for 20 crores limit, RBI is going ahead with last year agreed limit of 6 crores. RBI...
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Posted Date : 06-Jan-2013 , 08:53:38 pm | Posted By CASANSAAR
Sachin Tendulkar scored his 80th first-class century for Mumbai to help his team post 272 for three on the first day of their Ranji Trophyquarter-final clash against Baroda at the Wankhede Stadium here today. He was well-supported by opener Wasim Jaffer (137 not out), who scored his se...
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Posted Date : 05-Jan-2013 , 10:10:52 pm | Posted By CASANSAAR
After capping the variable pay of the top brass of stock exchanges and other capital market institutions, the Securities and Exchange Board of India (Sebi) now wants to regulate salaries of CEOs in corporate India. “It may be noted that, on average, the remune...
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Posted Date : 05-Jan-2013 , 03:08:57 pm | Posted By CASANSAAR
The Reserve Bank of India has directed banks to place information regarding any frauds before the audit committee of the board of directors every quarter. In a notification on Friday, RBI said an annual review of frauds should also be conducted and placed before the ...
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Posted Date : 05-Jan-2013 , 03:08:11 pm | Posted By CASANSAAR
The revenue collection continues to grow at snail's pace with the April-December 2012 direct tax mop up showing a meagre growth of 8%. Any hope the government could derive was from the personal income tax, contribution from individuals, which showed a rise of 15% growth durin...
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Posted Date : 05-Jan-2013 , 03:02:41 pm | Posted By CASANSAAR
British telecommunications carrier Vodafone Group Plc said on Saturday it has received a reminder from Indian tax authorities on disputed tax dues over its 2007 acquisition of Indian mobile assets. Vodafone, the world's biggest mobile operator by revenue, said in a statement the reminder do...
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Posted Date : 04-Jan-2013 , 09:11:44 am | Posted By CASANSAAR
The Institute of Chartered Accountantsof India NOTIFICATION 2nd January, 2013 No.13-CA (EXAM)/CPT/ June/2013: In pursuance of Regulation 22 of the Chartered Accountants Regulations, 1988, the Council of the Institute of Chartered Accountants of India is pleased to notify th...
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Posted Date : 04-Jan-2013 , 09:06:11 am | Posted By CASANSAAR
The capital market regulator has made it mandatory for companies to disclose monthly sales, turnover or production figures first to stock exchangesbefore giving the data to industry associations or the media."It has been brought to our notice that certain listed companies have been gi...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 280
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Posted Date : 04-Jan-2013 , 09:03:11 am | Posted By CASANSAAR
The Competition Commission of India passed a supplementary order modifying the Apartment Buyers Agreement entered into between DLF and the apartment allottees. This order under Section 27 of the Competition Act, 2002 relates to the order of the Hon’ble Competition Appellate Tribunal of March 2...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 236
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Posted Date : 03-Jan-2013 , 09:32:18 pm | Posted By CASANSAAR
It is learnt from sources that CA Vinod Jain ( Ballot No. 10) has claimed recounting of Central Council Votes for NIRC. Vinod Jain is a sitting Member of Central Council & Lost his Seat in this Election. He was on Position 7th.Recounting may be start today or tomorrow. CURR...
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Posted Date : 03-Jan-2013 , 09:27:51 pm | Posted By CASANSAAR
Here is the final result of the Central Council. While elimination of Vinoj Jain completes, the ranking may change, but the winners remains the same.Pankaj Tyagee and Vinod Jain, two sitting Central Council members lost the elections and couldn't make it again to the council. Rank...
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- NFRA Imposes Monetary penalty of Rs 1 Crore on M/s Dhiraj & Dheeraj
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