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Posted Date : 04-Aug-2012 , 09:36:37 am | Posted By CASANSAAR
The number of Indian companies that have at least one woman on the board has witnessed a rise of 16 percent over the last six years, a survey shows.Women's presence in board rooms has increased to 46.5 percent in 2011 from 30.4 percent in 2005 -- registering a rise of 16 percent, according to a Cred...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 293
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Posted Date : 04-Aug-2012 , 09:33:36 am | Posted By CASANSAAR
The Securities and Exchange Board of Indiahas barred 19 entities and people from trading in the securities market on the grounds that they had joined hands to trigger a collapse in four stocks last week. The market regulator, in an interim order released late on Friday ...
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Posted Date : 03-Aug-2012 , 07:10:44 pm | Posted By CASANSAAR
DIRECT ENTRY TO CHARTERED ACCOUNTANCY COURSE – AMENDMENTS TO THE CHARTERED ACCOUNTANTS REGULATIONS, 1988 This is to inform all concerned that with the issuance of the Notification No. 1-CA(7)/145/2012 on August 1, 2012, the provisions relating to Direct Entry Scheme for Graduates/Post Gr...
Continue Reading... Category : Students Zone | Comments : 0 | Hits : 3623
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Posted Date : 03-Aug-2012 , 04:23:22 pm | Posted By CASANSAAR
Bain Capital's acquisition of a 30% stake in Genpact, the country's largest ITeS company for $1 billion, could set the private equity fund - founded by US presidential nominee Mitt Romney - on collision course with India's income-tax authorities over payment of tax in the country...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 246
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Posted Date : 03-Aug-2012 , 08:28:04 am | Posted By CASANSAAR
The capital market regulator, Securities and Exchange Board of India may finally get access to Call Data Record (CDR). But, the regulator may not be given the right to tap the phone calls. According to sources, “This issue was discussed in a meeting held last week. It seems the Financ...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 328
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Posted Date : 03-Aug-2012 , 08:24:36 am | Posted By CASANSAAR
Facebook shares crumbled again on Thursday, sending the once-feverishly sought-after name below $20 for the first time as investors scrambled to get out of the way of a potential share deluge in coming weeks. Thursday marked a five-day losing streak for the stock. Facebook has shed almost ...
Continue Reading... Category : International Business | Comments : 0 | Hits : 274
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Posted Date : 02-Aug-2012 , 09:16:30 pm | Posted By CASANSAAR
Market regulator Sebi has imposed a penalty of Rs 22 lakh on three entities for circular trading in the scrip of Rich Capital & Financial Services in 2009.Sebi has imposed a fine of Rs 7 lakh each on Sanjeev Agarwal and Ashesh Agarwal and another Rs 8 lakh on the brokerage fi...
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Posted Date : 02-Aug-2012 , 09:15:31 pm | Posted By CASANSAAR
A day after Norway's Telenor- controlled Uninor put India telecom business on auction, real estate firm Unitech today approached the Company Law Board (CLB) seeking a stay on selling the business in which it owns a third of the stake.Unitech in its application requested CLB to st...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 241
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Posted Date : 02-Aug-2012 , 06:38:40 am | Posted By CASANSAAR
As you may be aware, the next Elections to the Council and Regional Councils are scheduled to be held in the month of December 2012. For the purpose, a List of Voters as on 01.04.2012 is under preparation. As per Rule 6 read with clause (2) of Schedule 2 of the Chartered Accountants (...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 752
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Posted Date : 02-Aug-2012 , 06:32:44 am | Posted By CASANSAAR
In a bid to lift some of the secrecy around US audit firms, a watchdog board on Wednesday told corporate directors that they may seek out non-public information about auditor inspections. US law bars regulators from making public key parts of reports on inspections of audit firms. But the law d...
Continue Reading... Category : Auditing | Comments : 0 | Hits : 278
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Posted Date : 01-Aug-2012 , 09:24:52 pm | Posted By CASANSAAR
The results of the Chartered Accountants Professional Competence and IntegratedProfessional Competence Examinations held in May, 2012 are likely to be declared tentatively onTuesday, the 7th August, 2012 around 5.00 P.M. and the same as well as the merit list(candidates securing a minimum of 55...
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Posted Date : 01-Aug-2012 , 07:54:36 pm | Posted By CASANSAAR
India on Wednesday decided to allow foreign direct investment from Pakistan in a move to boost bilateral economic relations."The government of India has reviewed the policy...And decided to permit a citizen of Pakistan or an entity incorporated in Pakistan to make investments in India, under the gov...
Continue Reading... Category : International Business | Comments : 0 | Hits : 306
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Posted Date : 01-Aug-2012 , 07:52:04 pm | Posted By CASANSAAR
In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.61/2012-CUSTOMS (N.T.), dated the 19th July, 2012 vide number S.O.1609 (E)...
Continue Reading... Category : Custom | Comments : 0 | Hits : 361
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Posted Date : 01-Aug-2012 , 07:51:20 pm | Posted By CASANSAAR
Government of India and Government of Principality of Monaco have signed a Tax Information Exchange Agreement (TIEA) yesterday. The agreement was signed by the Minister of State for Finance, Shri S S Palanimanickam from Indian side and Counsellor of Government for Finances and Economy, Mr. Marco Pic...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 256
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Posted Date : 01-Aug-2012 , 06:31:28 am | Posted By CASANSAAR
The Supreme Court on Monday clarified that the orders of the Authority for Advance Rulings(AAR) can be challenged before the respective high courts through writ petitions, a move which could have tax implications for firms involved in cross-border deals. Until Monday's ruling, an order...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 318
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Posted Date : 01-Aug-2012 , 06:28:40 am | Posted By CASANSAAR
The Reserve Bank of India (RBI), on Tuesday, kept the key indicative policy rates unchanged while it cut the gross domestic product (GDP) forecast for the current financial year from 7.3 per cent to 6.5 per cent and raised the inflation forecast from 6.5 per cent to 7 per cent. However, the...
Continue Reading... Category : RBI | Comments : 1 | Hits : 282
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Posted Date : 31-Jul-2012 , 10:20:19 pm | Posted By CASANSAAR
The Government of the Republic of India signed a revised Double Taxation Avoidance Agreement (DTAA) with the Government of the Republic of Indonesia for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on income on 27th July, 2012 at Hyderabad House, Ne...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 200
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Posted Date : 31-Jul-2012 , 10:19:50 pm | 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 electronically for the ...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 373
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Posted Date : 31-Jul-2012 , 10:15:34 pm | Posted By CASANSAAR
In a minor Cabinet reshuffle on Tuesday, Home Minister P Chidambaram was moved to the Finance Ministry, which was being handled by Prime Minister Manmohan Singh while current Power Minister Sushil Kumar Shinde took over as the new Home Minister. Corporate Affairs Minister Veerappa Moily has been giv...
Continue Reading... Category : General | Comments : 0 | Hits : 391
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Posted Date : 31-Jul-2012 , 03:20:24 pm | Posted By CASANSAAR
F.No.225/163/2012/ITA.I1 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, the 31st July 2012. Order under Section 119 of the Income Tax Act. 1986 On consideration of the reports of disturbance of general life caused due to f...
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Posted Date : 31-Jul-2012 , 08:06:28 am | Posted By CASANSAAR
As you may be aware, the Ministry of Corporate Affairs vide its circular number 14/2012 dated 21.06.2012 had imposed fees on Form 23B (Information by auditor to Registrar) w.e.f. 22/07/2012. Subsequently, the Ministry vide its circular number 19/2012 dated 27.07.2012 has extended the last date for f...
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Posted Date : 31-Jul-2012 , 07:59:01 am | Posted By CASANSAAR
The volume of income-tax applications has increased after the department has made it mandatory for all those who earn over Rs 10 lakh per annum or own assets abroad to file their returns online, causing the department's website to crash intermittently as several assessees try to register before the ...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 602
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Posted Date : 30-Jul-2012 , 09:50:09 pm | Posted By CASANSAAR
The Reserve Bank of India has said that persistence of inflation and slow growth have emerged as a major challenge for the monetary policy.In a report on macroeconomic and monetary developments, the RBI has said that there are increased risks on inflation scenario and lack of action on the fiscal fr...
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Posted Date : 30-Jul-2012 , 09:47:20 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs has decided that all cost auditors and the concerned companies will be allowed to file their Cost Audit Reports and Compliance Reports for the year 2011-12 [including the overdue reports relating to any previous year(s)] with the Central Government in the XBRL mode,...
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Posted Date : 30-Jul-2012 , 02:40:12 pm | Posted By CASANSAAR
In yet another move to provide clarity on taxation issues, Prime Minister Manmohan Singh today set up a committee to look into such matters pertaining to IT sector and research and development related activities. The panel, headed by former Central Board of Direct Taxes (CBDT) chairman N Ra...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 315
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Posted Date : 30-Jul-2012 , 07:57:37 am | Posted By CASANSAAR
The Income-tax department cannot reopen an assessment on the sole basis of a change in the opinion of its officers, the Bombay High Court has said in a significant judgement.New materials and evidence are pre-requisites to reopen assessments, the court has said. The high court or...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 406
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Posted Date : 30-Jul-2012 , 07:53:10 am | Posted By CASANSAAR
Undisclosed income of Indians totalling Rs 565 crore has been detected in France, according to Income Tax authorities, indicating that the Double Taxation Avoidance Agreementis showing results. The figure was disclosed in the information that India received from France on Indians havi...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 312
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Posted Date : 30-Jul-2012 , 07:51:29 am | Posted By CASANSAAR
Department of Income Tax(Range IV & V, Chandigarh) in association with the Institute of Chartered Accountant of India (ICAI) will jointly organize a Tax Awareness and Facilitation Camp on Monday, July 30 at Rajasthan Bhawan, Sector 33, Chandigarh.BS Sandhu, IRS, Commissioner of Income Tax, ...
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Posted Date : 30-Jul-2012 , 07:47:39 am | Posted By CASANSAAR
Firms providing insurance cover, phone or car for personal use to its staff as part ofcompensation package will have to pay service tax on the benefit extended.Independent directors would also be liable to service tax on the remuneration paid to them, according to changes propose...
Continue Reading... Category : Service Tax | Comments : 0 | Hits : 507
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Posted Date : 29-Jul-2012 , 07:35:20 pm | Posted By CASANSAAR
More than Rs 2,400 crore is lying as unclaimed deposits in the over one crore bank accounts across the country, the RBI has said in an RTI reply. According to the data revealed by the RBI, the State Bank group has over Rs 233 crore unclaimed funds in its 10 lakh accounts, public sector bank...
Continue Reading... Category : Banking | Comments : 0 | Hits : 390
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- NFRA Imposes Monetary penalty of Rs 1 Crore on M/s Dhiraj & Dheeraj
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- RBI directs payment firms to track high-value, fishy transactions during elections
- NCLT orders insolvency proceedings against Subhash Chandra
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- Payment of MCA fees –electronic mode-regarding
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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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