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Posted Date : 30-Aug-2012 , 06:29:39 am | Posted By CASANSAAR
Senior Income Tax officer K V Chowdary was appointed member of the Central Board of Direct Taxes (CBDT) in the Finance Ministry. A 1978-batch Indian Revenue Service (IRS) officer, he was till now serving as the Director General (Investigations) in the national capital and was heading a numb...
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Posted Date : 30-Aug-2012 , 06:26:08 am | Posted By CASANSAAR
Booking a ticket through the Indian Railway Catering and Tourism Corporation(IRCTC) website is set to get easier and faster if the IRCTC's plans to set up a rolling deposit scheme (RDS) work out. Pradeep Kundu, joint general manager, public relations, IRCTC, said, "Under the...
Continue Reading... Category : General | Comments : 0 | Hits : 565
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Posted Date : 30-Aug-2012 , 06:24:12 am | Posted By CASANSAAR
Capital market regulator Securities and Exchange Board of India (Sebi) on Wednesday amended the equity listing agreement to allow two new avenues for companies. This is amide at achieving minimum public shareholding requirements. The Sebi board, at its meeting on August 16, had taken a deci...
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Posted Date : 30-Aug-2012 , 06:22:26 am | Posted By CASANSAAR
In a ruling that has potentially far reaching implications for employees living in company-leased accommodation, the Delhi High Court has ruled that money spent on repairs and renovations of such residences is not a taxable perk.The verdict, delivered on August 17, comes 18 years...
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Posted Date : 29-Aug-2012 , 07:58:45 am | Posted By CASANSAAR
The implementation of the Direct Taxes Code (DTC), which seeks to overhaul 50-year-old income tax laws, is likely to be delayed as it needs a fresh relook. The government was planning to implement the DTC by April 1, 2013, but the events which unfolded after the 2012-13 Budget — ranging f...
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Posted Date : 29-Aug-2012 , 07:55:30 am | Posted By CASANSAAR
Income tax (I-T) department has started screening the tax audit reports filed by chartered accountants with a view to check fake membership numbers, membership numbers which exceeded the specified number (ceiling) of tax audit assignments etc. Official sources said the Institute o...
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Posted Date : 29-Aug-2012 , 07:49:14 am | Posted By CASANSAAR
The Supreme Court, on Tuesday, extended the deadline for registration of VAT till October 15. The Maharashtra sales tax department, in a recent circular, had directed builders to pay 5 per cent VAT by August 31 this year along with penalty on purchase of properties between June 20, 2006 and March 31...
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Posted Date : 29-Aug-2012 , 07:47:01 am | Posted By CASANSAAR
Capital markets regulator Securities & Exchange Board of India has allowed the conversion of 25% of Indian depository receipts (IDRs) of a company into underlying overseas listed equity shares in any financial year, following a promise made by formerfinance minister Pranab Mukherjee.The fun...
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Posted Date : 28-Aug-2012 , 10:00:46 pm | Posted By CASANSAAR
The Committee for Capacity Building of CA Firms and Small & Medium Practitioners (CCBCAF&SMP), ICAI in order to enable members to have access to antivirus software, has tied up with Quick Heal technologies Pvt. Ltd. Pune for providing access to Quick Heal Total Security at a special discount...
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Posted Date : 28-Aug-2012 , 09:58:51 pm | Posted By CASANSAAR
The Government today cleared a proposal to put a complete ban on employment of children up to the age of 14 both in hazardous and non-hazardous work by amending an anti-child labour Act. The Union Cabinet, which met in New Delhi today, approved bringing amendment to the Child Labour (Prohibition and...
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Posted Date : 28-Aug-2012 , 12:50:31 pm | Posted By CASANSAAR
Companies will have to pay commission to brokers for the submission of investors' IPO forms even if the public offer is withdrawn, and listings will not be allowed till the time this payment is made. In its guidelines for submission of IPO (Initial Public Offer) applications through a natio...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 305
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Posted Date : 28-Aug-2012 , 07:54:23 am | Posted By CASANSAAR
As the income gap between rich and poor widens, a majority of Americans say the growing divide is bad for the country and believe that wealthy people are paying too little in taxes, according to a new survey.The poll released Monday by the Pew Research Centerpoints to a particular challenge for...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 259
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Posted Date : 27-Aug-2012 , 10:35:41 pm | Posted By CASANSAAR
The Securities and Exchange Board of India(Sebi), today launched no-frills demat accounts for individual retail investors. There will be no annual maintenance charges of deposits of up to 50,000 rupees, while deposits between 50,001 rupees and 200,000 rupees will be 100 rupees. Sebi said the ‘...
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Posted Date : 27-Aug-2012 , 10:33:50 pm | Posted By CASANSAAR
The Conference of the Chief Commissioners and Directors General of Customs, Central Excise and Service Tax will be held in New Delhi tomorrow. The Union Finance Minister, Shri P. Chidambaram will inaugurate the Conference and also interact with the tax officials in the open house discussions. T...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 184
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Posted Date : 27-Aug-2012 , 10:33:02 pm | Posted By CASANSAAR
On the basis of specific complaints received in the Ministry, Regional Directors (RDs) and Registrar of Companies (RoCs) have been directed to Scrutinize the Balance Sheets and Inspect the books of accounts and other records under sections 234 and 209A respectively of the Companies Act, 1956 in resp...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 389
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Posted Date : 27-Aug-2012 , 04:07:55 pm | Posted By CASANSAAR
Registered companies in India can't pay more than 10% of net profit as remuneration to board-level directors overall without the government's approval, the Ministry of Corporate Affairs said today. The total remuneration to be paid to all the board level directors including the CEO of a com...
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Posted Date : 27-Aug-2012 , 07:40:18 am | Posted By CASANSAAR
Chartered accountant, a designation that once guaranteed a cushy job and a promising career, is now a victim of economic slowdown if the placement scene at Institute of Chartered Accountants of India, Ahmedabad chapter, is any indication. As compared to last year, when eight companies recruited 60 C...
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Posted Date : 27-Aug-2012 , 07:31:36 am | Posted By CASANSAAR
The much talked about Direct Taxes Code (DTC) appears set to miss the April 2013 deadline, too. Finance Minister P Chidambaram wants a complete reworking of the DTC Bill, which had been substantially changed under former finance minister Pranab Mukherjee from what was initially formulated u...
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Posted Date : 27-Aug-2012 , 07:29:43 am | Posted By CASANSAAR
Maharashtra finance minister Ajit Pawar has indicated that the state government will provide a waiver on 15% interest as penalty on value-added tax (VAT) levied on property transactions between 2006 and 2010, offering relief to thousands of harried home buyers. The fin...
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Posted Date : 26-Aug-2012 , 10:27:10 pm | Posted By CASANSAAR
Public sector banks have set a target to disburse Rs 6 lakh crore as agriculture loan during the current fiscal. This is Rs 25,000 crore higher than the target set for them. After inaugurating a rural training centre at Amaravathipuram, Karaikudi, set up by Indian Bank, Indian Overseas Bank...
Continue Reading... Category : Banking | Comments : 0 | Hits : 265
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Posted Date : 26-Aug-2012 , 10:14:32 am | Posted By CASANSAAR
Buoyed by a strong rally overseas, gold rose to touch a new high of Rs 31,300 per 10 grams in the bullion market here on Saturday.Gold added Rs 185, registering gains for the sixth day in a row, while silver added Rs 950 to Rs 57,800 per kg on increased buying.Silver co...
Continue Reading... Category : Shares & Stock | Comments : 0 | Hits : 261
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Posted Date : 26-Aug-2012 , 10:12:58 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has asked regional rural and co-operative banks to modify Fixed Deposit account opening forms to allow premature withdrawal of FD on death of one of the joint account holders without any penalty.Under the modified norms, it will be easier for the surviving joint accou...
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Posted Date : 25-Aug-2012 , 07:34:04 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) will meet Union Finance Minister P Chidambaram on retaining the current advance limit of bank branches for independent audit. "We will meet the finance minister and make a representation to retain the current Rs 6 crore limit of advance...
Continue Reading... Category : Banking | Comments : 0 | Hits : 2845
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Posted Date : 24-Aug-2012 , 09:39:46 pm | Posted By CASANSAAR
Capital market regulator Sebi has barred employee welfare schemes and trusts of listed entities from purchasing their own shares from the secondary market, fearing stock manipulation.Besides, Sebi will also ask listed companies to disclose all their existing employee benefit schemes involving stock ...
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Posted Date : 24-Aug-2012 , 09:35:37 pm | Posted By CASANSAAR
The Union Finance Minister, Shri P. Chidambaram said that the goods and services tax (GST) is a more effective and efficient substitute for plethora of indirect taxes. The Finance Minister said that he is hopeful that the GST Bill would be passed before the end of the current financial year. The Fin...
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Posted Date : 24-Aug-2012 , 09:10:26 am | Posted By CASANSAAR
Now You can get your exam result, which is to be declared on 25th August, 2012 for june 2012 session through e-mail. Kindly click on the following link to register your e-mail ID. CLICK HERE...
Continue Reading... Category : ICSI | Comments : 0 | Hits : 680
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Posted Date : 23-Aug-2012 , 10:43:56 pm | Posted By CASANSAAR
An Income tax amount of Rs 201.36 crore is due from the Board of Control for Cricket in India (BCCI), the government said today. "Appropriate measures have been taken by the Department to recover the demands raised which resulted into collection of an aggregate amount of Rs ...
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Posted Date : 23-Aug-2012 , 10:40:40 pm | Posted By CASANSAAR
The government has allowed housing financing companies to raise funds through external commercial borrowings, ECBs route to finance low-cost housing projects. A Finance Ministry statement said it has been decided that entities like National Housing Bank ,NHB and Housing Finance Companies, HFC will b...
Continue Reading... Category : Finance | Comments : 0 | Hits : 314
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Posted Date : 23-Aug-2012 , 10:39:40 pm | Posted By CASANSAAR
ANNOUNCEMENT Increase in fee for Duplicate Certificate of Membership and Certificate of Practice as an Associate or Fellow - Amendment to the Regulation 184 of the Chartered Accountants Regulations, 1988 This is to inform all concerned that with the issuance of the Notification No.1-...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 576
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Posted Date : 23-Aug-2012 , 10:34:59 pm | Posted By CASANSAAR
There is no proposal to revive Banking Service Recruitments Board as recruitment is done by individual Banks on an ongoing basis, which takes into account the results in common examination conducted by the Institute of Banking Personnel Selection (IBPS). The requirement of manpower in Natio...
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