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Posted Date : 11-Aug-2012 , 08:13:58 am | Posted By CASANSAAR
The Reserve Bank of India, on Friday, asked banks to drop the ‘no-frills’ tag from the basic saving accounts as the nomenclature has become a stigma. It has asked banks to provide the zero balance facility in the basic banking accounts along with ATM-cum-debit cards without any ...
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Posted Date : 11-Aug-2012 , 08:08:16 am | Posted By CASANSAAR
At a time when the government is facing flak from civil society activists over the issue of handling of black money cases, the finance ministry on Friday said tax evasion of a little over Rs 600-crore was detected, following processing of information received from Germany and France. Of this, taxes ...
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Posted Date : 11-Aug-2012 , 08:07:03 am | Posted By CASANSAAR
Former International Monetary Fund chief economist Raghuram Rajan has been appointed the chief economic advisor in the Ministry of Finance. The Appointments Committee of the Cabinet approved his name on Friday, a finance ministry official said. Rajan succeeds Kaushik Basu, who would return to a prof...
Continue Reading... Category : Finance | Comments : 0 | Hits : 526
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Posted Date : 10-Aug-2012 , 05:17:28 pm | Posted By CASANSAAR
The Reserve Bank has signed a memorandum of understanding (MoU) with the Central Bank of the Russian Federation. RBI in a statement said that the Reserve Bank of India and the Central Bank of the Russian Federation concluded a Memorandum of Understanding (MoU) to promote greater co-operatio...
Continue Reading... Category : International Business | Comments : 0 | Hits : 277
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Posted Date : 10-Aug-2012 , 05:15:35 pm | Posted By CASANSAAR
Initiatives taken by the Investigation Division of Central Board of Direct Taxes (CBDT) for unearthing black money : I. The Government of India has commissioned a study on unacco...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 235
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Posted Date : 10-Aug-2012 , 09:49:13 am | Posted By CASANSAAR
Non-executive directors have got service tax reprieve. The Finance Ministry has said that the company –not the non-executive director – has to fork out service tax on payments to such directors. The service tax will be entirely collected from the company concerned under a revers...
Continue Reading... Category : Service Tax | Comments : 0 | Hits : 792
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Posted Date : 10-Aug-2012 , 09:48:32 am | Posted By CASANSAAR
The finance ministry has said income-tax authorities will take appropriate action in the Vodafone tax dispute that could involve a potential Rs 20,000 crore claim on the company. "The assessing officer, as a quasi-judicial authority, will take appropriate action in the light of the Su...
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Posted Date : 09-Aug-2012 , 08:06:31 pm | Posted By CASANSAAR
No. Secretary-ICAI/Exam/May-12 August 9, 2012 Announcement The result of Group-II, Integrated Professional Competence Examination (IPCE) held in May 2012 of Ms. Divya Vasudeva (Roll No.310853) which was hosted on the Institute’s website on August 7, 2012 showed her as `pass’ in ...
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Posted Date : 09-Aug-2012 , 08:02:54 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) released the final guidelines on Implementation of Basel III Capital Regulations in India on May 2, 2012 which are available at RBI website www.rbi.org.in. RBI has informed that Basel III will be implemented in India over a sufficiently long transition period to avoid...
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Posted Date : 09-Aug-2012 , 08:02:01 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs is working on the Multi- State Societies Registration Bill, 2012. The Ministry has constituted an Expert Group on 11-05-2011 to study the legislative and regulatory architecture of the Societies Registration Act, 1860 and to suggest a Model Law on the subject a...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 315
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Posted Date : 09-Aug-2012 , 08:07:15 am | Posted By CASANSAAR
The Corporate Affairs Ministry will press ahead with the implementation of global accounting norms IFRS from next fiscal, even if the Direct Taxes Code does not take effect."We have taken the initiative that irrespective of whenever the DTC comes...We are determined to ensure that IFRS is implemente...
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Posted Date : 09-Aug-2012 , 08:02:35 am | Posted By CASANSAAR
The government on Wednesday said the Central Board of Direct Taxes (CBDT) had not offered any tax amnesty scheme to Indian account-holders ofHSBC, Switzerland. Minister of state for finance SS Palanimanickam replied in the negative to a written query in the Lok Sabha if the CBDT, the apex...
Continue Reading... Category : International Business | Comments : 0 | Hits : 286
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Posted Date : 09-Aug-2012 , 07:51:34 am | Posted By CASANSAAR
The Directorate of Enforcement has issued Show Cause Notice for alleged contravention of Foreign Exchange Management Act, 1999 (FEMA) and the cases of prima-facie, offence of money laundering registered under Prevention of Money Laundering Act, 2002 (PMLA) against Private Companies/MNCs in the last ...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 292
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Posted Date : 08-Aug-2012 , 09:58:04 pm | Posted By CASANSAAR
The results of the Chartered Accountants IPCC Examination held in May 2012 was declared recently. The details of percentage of candidates passed in the above said examinations are given below; &nb...
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Posted Date : 08-Aug-2012 , 04:50:36 pm | Posted By CASANSAAR
The government today said it has detected alleged central excise and service tax evasions of about Rs 5,995 crore during 2011-12. A total of 450 cases of service tax evasion involving Rs 5,012.90 crore and 350 cases of central excise evasion involving Rs 982.80 crore were registered in the ...
Continue Reading... Category : Income Tax | Comments : 1 | Hits : 531
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Posted Date : 08-Aug-2012 , 08:16:12 am | Posted By CASANSAAR
Rule 12 of the Income-tax Rules, 1962 mandates that an individual or Hindu undivided family, if his or its total income or the total income in respect of which he is or it is assessable under the Act, during the previous year, exceeds ten lakh rupees, shall furnish the return electron...
Continue Reading... Category : Income Tax | Comments : 1 | Hits : 475
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Posted Date : 08-Aug-2012 , 08:12:07 am | Posted By CASANSAAR
Doctors getting free samples of medicines, gifts or foreign trips from pharmaceutical or healthcare companies should now be prepared to pay tax as such freebies will be calculated as taxable income.Similarly, drug makers and allied healthcare companies will also be no longer get tax exemptions ...
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Posted Date : 08-Aug-2012 , 08:07:17 am | Posted By CASANSAAR
Capital markets regulator SEBI has cleared the proposal for the launch of AMFI’s mutual fund transaction routing platform. The platform will provide investors with a common account number (CAN) so that investors can invest across schemes and fund houses using this number. The MF utili...
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Posted Date : 08-Aug-2012 , 07:58:26 am | Posted By CASANSAAR
Minister for Labour and Employment Mallikarjun Kharge has said an e-passbook facility, in which individuals can view and print their employee provident fund passbooks without having to go through employers, would be launched by the Employee Provident Fund Organisation (EPFO).Speaking at the 200th me...
Continue Reading... Category : General | Comments : 0 | Hits : 881
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Posted Date : 07-Aug-2012 , 10:19:12 am | Posted By CASANSAAR
ICAI: Online submission of CA Exam form for November 2012: Start Date : 06/08/2012 Last Date for online submission of Form without late fees : 27/08/2012 Last Date for online submission of Form with late fees : 03/09/2012 Registration for Onlin...
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Posted Date : 07-Aug-2012 , 08:53:46 am | Posted By CASANSAAR
Finance Minister P Chidambaram on Monday announced a relook at retrospective amendments to the Income Tax Act, which affected companies such as Vodafone, in a move aimed at bringing back investor confidence in the Indian economy. This is a sharp deviation from the stand taken by his predecessor Pran...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 266
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Posted Date : 06-Aug-2012 , 08:01:10 am | Posted By CASANSAAR
Facebook may be continuing to gain ground in social networking space, but its per-user valuation has more than halved to $47 in less than three months since its much-hyped debut in the stock market. As per the latest disclosure by Facebook, the social networking giant now commands a base of...
Continue Reading... Category : International Business | Comments : 0 | Hits : 401
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Posted Date : 06-Aug-2012 , 07:39:42 am | Posted By CASANSAAR
The Institute of Chartered Accountants (ICAI) of India is inviting all leading companies and CA firms to the forthcoming campus placement programme to be held in August - September 2012. Committee for Members in Industry (CMII) of ICAI are endeavoring to provide Chartered Accountants with p...
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Posted Date : 05-Aug-2012 , 09:29:02 pm | Posted By CASANSAAR
Despite the volatile market conditions, all listed companies will be expected to comply with the minimum public shareholding norms by August 2013 as market regulator Securities Exchange Board of India (Sebi) has said that it will not extend the deadline. “It is a completely wrong assu...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 363
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Posted Date : 05-Aug-2012 , 09:24:26 pm | Posted By CASANSAAR
Mauritius-based entities seem to have gone on a selling spree in the Indian stock market and have off-loaded shares worth about Rs 3,000 crore in about 24 companies since the beginning of this fiscal. The companies whose shares have been sold by various Mauritius-based entities, many ...
Continue Reading... Category : International Business | Comments : 0 | Hits : 389
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Posted Date : 04-Aug-2012 , 03:21:25 pm | Posted By CASANSAAR
The Securities & Exchange Board of India (SEBI) is open to allowing new alternative routes to facilitate listed companies meet the minimum public shareholding norm. This was stated by SEBI Chairman U.K.Sinha at a PHDCCI national conference on minimum public shareholding norms. ...
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Posted Date : 04-Aug-2012 , 09:43:29 am | Posted By CASANSAAR
General Circular No. 22/2012, Dated the 3rd Aug, 2012 Sub : Imposing fees on certain e-forms filed with ROC, RD or MCA(HQ) under MCA-21 where at present no fee is prescribed. I am directed to refer to the Ministry’s General Circular no. 14/2012 dated...
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Posted Date : 04-Aug-2012 , 09:41:55 am | Posted By CASANSAAR
As many as 13 companies, mostly real estate developers such as Alchemist Infra Realty, Rose Valley Real Estates, MPS Greenery Developers and Rahul Hi-Rise, have come under the scanner of the Ministry of Corporate Affairs for alleged money laundering and money circulation. The ministry has o...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 691
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Posted Date : 04-Aug-2012 , 09:40:40 am | Posted By CASANSAAR
The RBI on Friday changed regulatory norms for microfinance companies with liberal norms for those operating in the North Eastern states. "The bank has been receiving representations from NBFCs that are primarily intomicrofinancing, conveying difficulties in complying with the frame...
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Posted Date : 04-Aug-2012 , 09:37:59 am | Posted By CASANSAAR
The Companies Bill and the Forward Contracts Regulation (Amendment) Bill are likely to be taken up for consideration and passage in the forthcoming monsoon session of Parliament beginning next week. The list of important economic legislations, to be taken up in the monsoon session starting ...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 272
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- NFRA Imposes Monetary penalty of Rs 1 Crore on M/s Dhiraj & Dheeraj
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- GST Important Update - Enhancement in the GST Portal
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- CBDT extends due date for filing Form 10A/10AB upto 30th June, 2024
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- RBI directs payment firms to track high-value, fishy transactions during elections
- NCLT orders insolvency proceedings against Subhash Chandra
- Income Tax dept starts drive to dispose of appeals, 0.54 million at last count
- Payment of MCA fees –electronic mode-regarding
- Budget '11-12' Parliament Completes Approval Exercise
- Satyam restrained from operating its accounts
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- Maha expects Rs 15 crore entertainment tax revenue from IPL
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- Provision of 15-minutes reading and planning time allowance to the candidates of Chartered Accountants Examinations
- Companies Bill to be taken up in Monsoon Session
- File Service Tax Return in time as Maximum Penalty increased 10 times to Rs. 20000
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