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Posted Date : 29-Jul-2012 , 08:59:08 am | Posted By CASANSAAR
With the last date for filing income tax returns fast approaching on Monday, the I-T department as well as assessees are facing problems with online data entry. This year onward, it is mandatory for all those who earn over Rs 10 lakh per annum to file their returns online, and this has caus...
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Posted Date : 29-Jul-2012 , 08:55:00 am | Posted By CASANSAAR
Market regulator SEBI today allowed online subscription of bonds, a move that will reduce timeline for completion of the process.In a notification issued in Mumbai on Friday, the market regulator said in order to facilitate a system to reduce the timelines of the issue process for public issue of de...
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Posted Date : 28-Jul-2012 , 11:34:34 am | Posted By CASANSAAR
The income tax department plans to initiate prosecution proceedings against employees ofHSBC Switzerland for allegedly helping Indians stash away illegal wealth in Swiss banks.The finance ministry has given permission to the income tax department to initiate a...
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Posted Date : 27-Jul-2012 , 06:26:22 pm | Posted By CASANSAAR
India and Indonesia today signed an agreement for avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income.The agreement was signed by the visiting Indonesian Foreign Affairs Minister Marty Natalegawa and his Indian Counterpart S.M Krishna at the Hyderabad house ...
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Posted Date : 27-Jul-2012 , 06:25:22 pm | Posted By CASANSAAR
The Supreme Court today issued notice to the Centre on a PIL challenging the Finance Minister's power to nominate two members in the search and selection board for appointment of SEBI chairman and full time members. A bench headed by S S Nijjar, however, refused to stay Rule 3 (5)(e) of Securit...
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Posted Date : 27-Jul-2012 , 08:23:17 am | Posted By CASANSAAR
India's accounting regulator will look into the standards being followed by some of the country's leading companies, a move that comes in the wake of serious concerns raised by several analyst firms.Global analyst firm Veritas had downgraded Reliance Communications over...
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Posted Date : 26-Jul-2012 , 09:50:08 pm | Posted By CASANSAAR
Department of Financial Services , Ministry of Finance is considering implementation of e-governance in the Debt Recovery Tribunals (DRTs)/Debt Recovery Appellate Tribunals (DRATs) for which the services of National Institute of Smart Governance (NISG) are being utilised as Consultants. The...
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Posted Date : 26-Jul-2012 , 09:48:28 pm | Posted By CASANSAAR
The Institute of Company Secretaries of India (ICSI) has notified that admission to Company Secretaries (CS) Executive Programme is on. In a Press Release the Institute has made it clear that Graduates seeking admission till 31st August, 2012 will be eligible for Examination in June 2013. B.A /...
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Posted Date : 26-Jul-2012 , 09:06:26 am | Posted By CASANSAAR
A Notification vide No. G.S.R. 716(E). dated 23.09.2011 was issued, in view of the order of the Hon’ble High Court of Delhi dtd. 21.04.2011 in the matter of M/s. S.E. Investment Limited Vs Union Of India and Others {W.P. (c) 2393/2010 and CM Appl. 4794/2011}, the Hon’ble Court had inter ...
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Posted Date : 26-Jul-2012 , 07:30:49 am | Posted By CASANSAAR
Just two days after petrol prices were hiked by 70 paise by oil marketing companies, prices of petrol and diesel went up in seven states, including West Bengal and Maharashtra, as the oil firms recalibrated rates to reflect changes in local levies.This hike is independent of Monday’s 70 paise ...
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Posted Date : 26-Jul-2012 , 06:41:09 am | Posted By CASANSAAR
Corporate Affairs Ministry has cracked the whip this time around on 13 companies most of which are in real estate. The registrar of companies is investigating allegations of money circulation and money laundering. In fact even the RBI has trained its guns on the alleged scams, reports CNBC-TV18's Ma...
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Posted Date : 26-Jul-2012 , 06:40:15 am | Posted By CASANSAAR
Over 50 million subscribers of the retirement fund body EPFO can obtain e-passbook along with details of their updated accounts online from on Wednesday. "The EPFO subscribers can get their statement of accounts online from today," Central Provident FundCommissioner R C Mishra sa...
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Posted Date : 26-Jul-2012 , 06:38:18 am | Posted By CASANSAAR
The government may appeal against a Madras high court judgement on employee stock options (Esops) that could have a bearing on how corporate tax is calculated. The appeal plan was disclosed by a senior income tax department official, who didn’t want to be identified. In a 19 June judg...
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Posted Date : 26-Jul-2012 , 06:32:51 am | Posted By CASANSAAR
Bombay High Court recently dismissed an Income Tax department appeal against an order in favour of actor Amitabh Bachchan, holding that the plea did not involve ‘any substantial question of law’. On October 13, 2002, Bachchan had filed his income tax return, declaring his earnin...
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Posted Date : 26-Jul-2012 , 06:30:56 am | Posted By CASANSAAR
ANNOUNCEMENT FOR THE ATTENTION OF THE MEMBERSInternational Auditing and Assurance Standards Board’sInvitation to Comment, Improving the Auditor’s Report The International Auditing and Assurance Standards Board (IAASB), has recently published an Invitation to Commen...
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Posted Date : 25-Jul-2012 , 07:09:49 am | Posted By CASANSAAR
In order to make the Income Tax Return filing experience even more convenient, the Income Tax Department has started two more taxpayer friendly initiatives ‘Register for Home Visit’ and ‘Online Tax Help’. To avail these facilities, a taxpayer must visit th...
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Posted Date : 25-Jul-2012 , 07:05:07 am | Posted By CASANSAAR
Sebi has warned investors against dealing with Trading India Portfolios Ltd (TIPL) and its chairman Ankush Srivastava after the regulator observed that the firm has placed false and misleading information related to portfolio management and stock broking services on its webs...
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Posted Date : 24-Jul-2012 , 09:01:07 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs has decided to impose a certain amount of fee on the following forms at the rates indicated in the table below:- S. No. Form No. Particulars of the Form Fee Applicable 1 Form 1 of Investor Educati...
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Posted Date : 24-Jul-2012 , 09:00:31 pm | Posted By CASANSAAR
Based on the recommendations of the Foreign Investment Promotion Board (FIPB) in its meeting held on June 29, 2012, the Central Government has approved 14 Proposals of Foreign Direct Investment (FDI) amounting toRs.1584....
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Posted Date : 24-Jul-2012 , 08:57:24 pm | Posted By CASANSAAR
In a major drive to help taxpayers file returns, the Income Tax Department on Tuesday offered to provide expert services at door-steps in the four metros and some major cities like Bangalore, Jaipur and Patna. Also, it has started 'Online Tax Help' to provide professional services to ...
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Posted Date : 24-Jul-2012 , 08:55:56 pm | Posted By CASANSAAR
The income tax department has set up special I-T return receipt counters in Delhi. People having income from salary can file their I-T returns at the counters in Mayur Bhavan, Connaught Place till tomorrow. According to the department, I-T returns will later on be only accepted at the new I...
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Posted Date : 24-Jul-2012 , 07:57:55 am | Posted By CASANSAAR
Market regulator Sebi has tightened the criteria for stocks to be traded in the futures and options segment by raising the minimum requirement of median quarter-sigma order size (MQSOS) - an indicator of market depth - for a stock to Rs 10 lakh from Rs 5 lakh. Sebi has also trebled the min...
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Posted Date : 24-Jul-2012 , 07:56:19 am | Posted By CASANSAAR
Tightening the norms, Income Tax (I-T) Department has introduced a new column seeking details of foreign assets in the Income Tax Return (ITR) forms for the 2012-13 assessment year.Taxpayers, who hold foreign bank accounts or properties, will now have to furnish details of their foreign as...
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Posted Date : 23-Jul-2012 , 08:36:36 pm | Posted By CASANSAAR
After two rounds of rate cuts last month, petrol price was on Monday hiked by 70 paise per litre on firming international oil rates. Petrol in Delhi will cost Rs68.48 per litre with effect from Monday midnight as compared to Rs67.78 a litre now, state-owned oil companies announced on Monday...
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Posted Date : 23-Jul-2012 , 08:29:18 pm | Posted By CASANSAAR
Foreign Institutional Investors (FIIs) have poured in over $1.67 billion this month in the Indian stock market, taking their total investments so far this year to more than $10 billion.According to data available with the Securities and Exchange Board of India (SEBI), foreign investors, who had pull...
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Posted Date : 23-Jul-2012 , 08:09:02 am | Posted By CASANSAAR
The Financial Intelligence Unit (FIU) of the finance ministry has begun a probeinto the HSBC's India operations after it was alleged that the country was exposed to terror funding and money laundering due to the banking giant's weak safety mechanisms. The FIU,...
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Posted Date : 22-Jul-2012 , 09:30:14 pm | Posted By CASANSAAR
CMA Rakesh Singh has been elected as President of the Institute of Cost Accountants of India for the year 2012-13. CMA S.C. Mohanty has been elected as Vice President of the Institute of Cost Accountants of India for the year 2012-13. ...
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Posted Date : 22-Jul-2012 , 07:44:37 pm | Posted By CASANSAAR
Pranab Mukherjee is President-elect and will take oath as the 13th President of India at 11.30 am on Wednesday, July 25. The returning officer for the presidential elections, VK Agnihotri, announced a little after 6.30 pm on Sunday, "Pranab Mukherjee has been duly elected to the office o...
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Posted Date : 22-Jul-2012 , 12:16:11 pm | Posted By CASANSAAR
Cracking down on misuse of user IDs by agents to corner general and tatkal tickets, the Indian Railway Catering and Tourism Corporation Limited (IRCTC) has deactivated as many as 44,000 multiple user IDs created by agents in the past 10 days. In addition, the vigilance teams of IRCTC have a...
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Posted Date : 21-Jul-2012 , 05:38:08 pm | Posted By CASANSAAR
Ministry vide 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. Kindly note that the last date for filing the Form 23B without fee has been extended for two weeks. Fee shall be charged on a...
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