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  • 10 FDI Proposals Amounting to Rs. 1259.92 Crore Approved
    Posted Date : 23-Aug-2012 , 10:33:36 pm | Posted By CASANSAAR

     Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on July 27, 2012, the Government of India has approved ten (10) Proposals of Foreign Direct Investment (FDI) amounting t...

    Continue Reading... Category : International Business | Comments : 0 | Hits : 358

  • Steps to Recover NPAs
    Posted Date : 23-Aug-2012 , 10:32:56 pm | Posted By CASANSAAR

    Although the Gross non-Performing Assets of the Public Sector Banks (PSBs) as on March 2012 amounts to Rs. 112489 crore, all PSBs have reported profits for the financial year 2011-12. Banks are required to monitor NPAs and take steps to bring them down through recovery/other channels. RBI also ...

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  • Tax on Film Artists Services
    Posted Date : 23-Aug-2012 , 10:32:12 pm | Posted By CASANSAAR

    Service tax of 12.36 per cent has been imposed on the taxable services provided by the Film Artists. As a preparation for the introduction of a nationwide comprehensive Goods and Service Tax (GST), comprehensive approach to taxation of services has been brought into effect from the 1st day of J...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 348

  • ICSI: Annual Membership fees for the year 2012-2013
    Posted Date : 23-Aug-2012 , 09:09:07 am | Posted By CASANSAAR

    The last extended date for payment for Annual Membership Fee for the year 2012-13 is 31st August, 2012.  The members who are yet to pay the fee are requested to pay the fee on or before 31st August, 2012.     Please note that the names of the members whose annual membership fee...

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  • RBI notifies decision allowing FDI from Pakistan
    Posted Date : 23-Aug-2012 , 08:44:03 am | Posted By CASANSAAR

    The Reserve Bank today notified the decision to allow foreign direct investment from Pakistan. "It has now been decided that...a person who is a citizen of Pakistan or an entity incorporated in Pakistan may, with the prior approval of the Foreign Investment Promotion Board, purchase s...

    Continue Reading... Category : International Business | Comments : 0 | Hits : 328

  • Taxes worth Rs 58,636 cr locked up in litigation in SC, HCs
    Posted Date : 23-Aug-2012 , 08:39:46 am | Posted By CASANSAAR

    Taxes worth Rs 58,636 crore are locked up in litigations in the Supreme Court and different High Courts, the government said today.   On the Direct Taxes sides, 5,860 cases involved tax demand worth Rs 2,707 crore were locked up in Supreme Court. Another 29,650 cases with tax demand of Rs 36,...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 280

  • FM P Chidambaram approves proposal for 49% FDI in Insurance and pension sector
    Posted Date : 23-Aug-2012 , 08:36:44 am | Posted By CASANSAAR

    Finance minister P Chidambaram has cleared a proposal to raise foreign direct investmentlimit in insurance and pension sectors to 49%, making it clear that he intends to push sentiment changing reforms even though politically things look difficult for the Unit...

    Continue Reading... Category : Finance | Comments : 0 | Hits : 322

  • Govt liberalises ECB norms
    Posted Date : 23-Aug-2012 , 08:35:49 am | Posted By CASANSAAR

    India has eased overseas borrowing rules to allow easier access to cheap dollar funds to housing financecompanies such as HDFC, small industry financier SIDBI and permitted non-resident entities to provide rating enhancement facility to Indian borrower. The move will also help boost c...

    Continue Reading... Category : Finance | Comments : 0 | Hits : 289

  • Notices Issued by Enforcement Directorate to BCCI and its Officials for Contravention of FEMA
    Posted Date : 23-Aug-2012 , 08:29:32 am | Posted By CASANSAAR

    Based on the investigation carried out by the Enforcement Directorate (ED), the adjudicating authority has issued Show Cause Notices under Foreign Exchange Management Act, 1999 (FEMA) to BCCI & its officials for the contraventions of the relevant provisions of the said Act as per details below:-...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 240

  • Sebi gets Tribunal rap for 'inordinate' delay in inquiry
    Posted Date : 22-Aug-2012 , 10:35:07 pm | Posted By CASANSAAR

    Market regulator Sebi today faced flak from Securities Appellate Tribunal for "inordinate delay" without any justifiable reasons in conducting its inquiry and taking action in two separate cases of market manipulation.   The Securities Appellate Tribunal (SAT) made these observations while he...

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  • Govt take steps to evolve consensus on retail FDI
    Posted Date : 22-Aug-2012 , 04:07:20 pm | Posted By CASANSAAR

    The government has taken steps to evolve a broader consensus among various stakeholders on the issue of Foreign Direct Investment (FDI) in multi-brand retail trading. This information was given in a written reply in the Rajya Sabha today by the Commerce and Industry Minister Mr Anand Sharma. He said...

    Continue Reading... Category : Finance | Comments : 0 | Hits : 337

  • Poonam Kishore Saxena new CBDT chairman
    Posted Date : 22-Aug-2012 , 07:05:18 am | Posted By CASANSAAR

    Poonam Kishore Saxena, a 1975 batch IRS officer, has been appointed as Chairman of Central Board of Direct Taxes (CBDT), the Finance Ministrysaid today. She was holding the additional charge of the post after incumbent chairman Laxman Das retired last month. Prior to the appointment, ...

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  • RBI tightens norms for loan securitisation by NBFCs
    Posted Date : 22-Aug-2012 , 07:01:44 am | Posted By CASANSAAR

    The Reserve Bank of India (RBI) on Tuesday extended the guidelines on securitisation of standard assets (loans), which had earlier been issued to banks, to non-banking finance companies (NBFCs) also, stipulating that originating NBFCs can securitise loans only after it had been held by them for a mi...

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  • Delhi High Court issues notice to Sebi on algorithm trading
    Posted Date : 22-Aug-2012 , 07:00:15 am | Posted By CASANSAAR

    The Delhi High Court has issued notices to capital markets regulator Sebi and stock exchanges on a petition filed by a broker and investors association which seeks a ban on high-frequency or algorithm trading. The Securities and Exchange Board of India is requ...

    Continue Reading... Category : SEBI | Comments : 0 | Hits : 265

  • GST rollout likely to miss April 2013 deadline
    Posted Date : 22-Aug-2012 , 06:56:02 am | Posted By CASANSAAR

    The government's plan to roll out the Good and Services Tax (GST) by next April is unlikely to be met as an expert has suggested not to rush through with the country's most ambitious tax reform initiative. This may bring some relief to the UPA as it will provide more time to thra...

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  • Finance minister summons tax commissioners
    Posted Date : 22-Aug-2012 , 06:52:03 am | Posted By CASANSAAR

    Finance minister P Chidambaram has summoned his top tax administrators for a meeting at the end of this month, even as policymakers grapple to garner revenues in a slowing economy hit by high prices, low incomes and plunging exports. This will be the second conference of I-T chief commissi...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 265

  • CS June 2012 Examination Result on 25th August, 2012
    Posted Date : 22-Aug-2012 , 06:47:52 am | Posted By CASANSAAR

    Company Secretaries Examinations June, 2012 Result Would Be Declared On 25th August, 2012 At 11.00 A.M. The Results Alongwith Individual Candidate’s Subjectwise Break-Up of Marks Will Be Available on the Institute’s Website, www.icsi.edu   Formal E-Result-Cum-Marks Stat...

    Continue Reading... Category : Students Zone | Comments : 0 | Hits : 520

  • Professional misconduct: FinMin fiat to banks
    Posted Date : 21-Aug-2012 , 07:39:37 am | Posted By CASANSAAR

    The Finance Ministry has asked state-owned banks and insurance companies to take up the issue of misconduct by professionals such as advocates and chartered accountants with their regulating bodies such as the ICAI.   The Ministry has issued the directive to heads of public sector banks, fina...

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  • Transfer pricing tolerance band will be 5% for 2011-12 too
    Posted Date : 21-Aug-2012 , 07:32:02 am | Posted By CASANSAAR

    Multinational companies and Indian industrial houses that have spread their wings abroad can raise a toast to the Income-Tax Department.   In times of economic woe, the Tax Department has shown its generosity by retaining the tolerance band for transfer pricing adjustment at five per cent for...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 342

  • Disinvestment process to speed up to meet target of Rs.30,000 cr
    Posted Date : 21-Aug-2012 , 07:28:34 am | Posted By CASANSAAR

    Disinvestment process is being speeded up to meet the target of 30 thousand crore rupees this year. This will also will help the state-owned companies to hit stock markets in time. Sources said the direction was given by Finance Minister P. Chidambaram at a recent meeting of officials. Economic Affa...

    Continue Reading... Category : Finance | Comments : 0 | Hits : 283

  • FII stock markets crosses 11 billion dollars
    Posted Date : 21-Aug-2012 , 07:27:52 am | Posted By CASANSAAR

    Foreign investment in Indian stock markets has crossed 11 billion dollars so far this year. Market analysts expect the inflows will continue amid hopes of government's initiatives on policy reforms. Securities and Exchange Board of India says, the bulk of 1.02 billion Dollars came this month. A...

    Continue Reading... Category : Shares & Stock | Comments : 0 | Hits : 233

  • About 10 lakh bank employees to go on strike on 22-23 August
    Posted Date : 20-Aug-2012 , 06:36:08 pm | Posted By CASANSAAR

    Around 10 lakh bank employees and officers working in 27 public sector banks including State Bank of India (SBI) and 12 old generation private sector banks and eight foreign banks will resort to two days nationwide strike on 22nd and 23rd August, says United Forum of Bank Unions (UFBU). UFBU is the ...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 657

  • Black money trail: Export, import firms under scanner for alleged money laundering, tax evasion
    Posted Date : 20-Aug-2012 , 06:34:39 pm | Posted By CASANSAAR

    Trade transactions by a host of exportand import firms have come under the scanner of central economic intelligence agencies for allegedmoney laundering and tax evasion.Sources said Central Economic Intelligence Bureauand Directorate of Revenue Intelligence officials ha...

    Continue Reading... Category : International Business | Comments : 0 | Hits : 295

  • Dhanlaxmi seeks RBI nod for new auditor
    Posted Date : 20-Aug-2012 , 07:38:04 am | Posted By CASANSAAR

    Kerala-based Dhanlaxmi Bank Ltd has approached the Reserve Bank of India (RBI) to appoint new auditors after Walker Chandiok and Co. and audit consultancy Grant Thornton Advisory Pvt. Ltd walked out in early August, a month before the completion of their three-year tenu...

    Continue Reading... Category : Auditing | Comments : 0 | Hits : 611

  • TDS not deductible from compensation: Commission
    Posted Date : 20-Aug-2012 , 07:35:38 am | Posted By CASANSAAR

    Damages awarded cannot be equated with income liable to tax deduction at source (TDS), the apex consumer commission has held. The National Consumer Disputes Redressal Commission (NCDRC) gave the order while directing the Airport Authority of India (AAI) to refund the "tax deducted at source (TD...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 500

  • SEBI to announce fresh market reforms: Fin Min
    Posted Date : 20-Aug-2012 , 07:32:09 am | Posted By CASANSAAR

    Finance Minister P Chidambaram today said regulator Sebi is expected to announce fresh market reform measures next month. In a statement, the finance minister favoured encouraging more people to invest in financial instruments rather than in gold.Expressing satisfaction over wide-ranging reforms ann...

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  • Barclays Bank slammed for lack of internal control
    Posted Date : 20-Aug-2012 , 07:31:06 am | Posted By CASANSAAR

    In Britain, a parliamentary investigation into the rigging of rates, which banks lend money to each other, has strongly criticised Barclays Bank for lack of internal controls over several years. The MPs also said former Head of the Bank Bob Diamond provided highly selective evidence to its committee...

    Continue Reading... Category : International Business | Comments : 0 | Hits : 313

  • Ramdev in fresh trouble: Yoga guru's trusts under scanner for tax evasion
    Posted Date : 19-Aug-2012 , 03:19:42 pm | Posted By CASANSAAR

    The Revenue department has begun a final tax assessment of the trusts associated with yoga guru Baba Ramdev after service and Income Tax officials recently conducted special investigations on these enterprises for alleged tax evasion. Both the revenue collection arms of Finance Ministry's Income Tax...

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  • FM suggests cut in interest rates & lower EMIs to revive economy
    Posted Date : 18-Aug-2012 , 09:28:35 pm | Posted By CASANSAAR

    Finance Minister P. Chidambaram has asked the banks to cut interest rates, aggressively expand their operations and extend credit to vital sectors to revive economic growth. Briefing the media after meeting the Chief Executives of Public Sector Banks and Financial institutions in New Delhi, Chidamba...

    Continue Reading... Category : Finance | Comments : 0 | Hits : 240

  • 5 SMS per day limit comes into effect
    Posted Date : 18-Aug-2012 , 03:17:53 pm | Posted By CASANSAAR

    To check spread of rumours which has led to exodus of northeastern peoplefrom certain states, government banned from today bulk SMSes and MMSes for 15 days across the country.   "We have banned bulk SMSes and MMSes for 15 days," Union Home Secretary RK Singh told PTI.   ...

    Continue Reading... Category : General | Comments : 0 | Hits : 951

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