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Posted Date : 12-Jun-2012 , 07:12:00 am | Posted By CASANSAAR
Rising governance issues in companies and increasing corporate frauds have led to a surge in demand for talent in the internal audit arm of audit firms and companies. Audit firms like Ernst & Young,PricewaterhouseCoopers (PwC) and Protiviti Consulting are ramping up hiring fo...
Continue Reading... Category : Auditing | Comments : 0 | Hits : 6587
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Posted Date : 12-Jun-2012 , 07:03:26 am | Posted By CASANSAAR
India hopes to introduce a bill for a direct tax code (DTC) during the monsoon session of Parliament, finance minister Pranab Mukherjee said on Monday.The monsoon session usually runs from July to August. The code, which will replace the existing Indian Income Tax Act 1961, inten...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 319
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Posted Date : 11-Jun-2012 , 10:09:28 pm | Posted By CASANSAAR
Indirect tax collections have increased by 16.1 per cent to Rs 37,166 crore in May on the back of rise in excise duty and service tax rates. The overall growth in indirect tax revenue collection during the month of May, 2012, is about 16.1 per cent which is 5.7 per cent high...
Continue Reading... Category : Excise | Comments : 0 | Hits : 325
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Posted Date : 11-Jun-2012 , 10:05:33 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs, has achieved a new milestone by integrating e-Governance project for Limited Liability Partnership (LLP) under the platform of MCA21. This initiative has been taken on the advice of Union Corporate Affairs Minster Dr. M.Veerappa Moily. This will result in prov...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 504
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Posted Date : 11-Jun-2012 , 04:51:05 pm | Posted By CASANSAAR
Important Announcement - CPT June 2012 Examination. - (11-06-2012) IMPORTANT ANNOUNCEMENT No. 13-CA(Exams)/CPT/June 2012/ June 11, 2012. Due to unavoidable circumstances, the examination Centre of 200 candidates bearing Roll No. from 218290 to 218489 for CPT (Common Proficiency Test - Exami...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 1025
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Posted Date : 11-Jun-2012 , 01:00:46 pm | Posted By CASANSAAR
Introducing Limited Liability Partnership (LLP) Registration through Electronic Mode (E-Filing). A. LLP REGISTRY PROCESS FOR NEW UNITS 1. LLP registration process has been upgraded and aligned with MCA Portal 21. 2. Ministry has since decentralized this process. Hencefo...
Continue Reading... Category : Corporate Law | Comments : 1 | Hits : 856
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Posted Date : 11-Jun-2012 , 08:36:08 am | Posted By CASANSAAR
Finance ministry concerned over rising bad loans and wants a variety of actions to check these; Pranab to meet financial institutions’ chiefs on Tuesday to discuss the issue Concerned at the spurt in bad loans of public sector banks (PSBs), the Union finance ministry has asked them to...
Continue Reading... Category : Banking | Comments : 0 | Hits : 1056
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Posted Date : 11-Jun-2012 , 08:29:37 am | Posted By CASANSAAR
The Institute of Cost Accountant Of India (ICAI) has drawn up plans to set up 100-150 CMA support centres across the country. "We have decided to set up 100-150 CMA Support Centres in a year and the first will be in Gulbarga in Jammu & Kashmir," ICAI central council member Manas Kumar ...
Continue Reading... Category : ICWAI | Comments : 0 | Hits : 528
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Posted Date : 10-Jun-2012 , 09:46:35 pm | Posted By CASANSAAR
Mahindra Satyam today said its shareholders have approved the merger of the firm with its parent company Tech Mahindra. "The shareholders of both Tech Mahindra and Mahindra Satyam have unanimously approved the scheme of amalgamation and merger of Satyam Computer Services Ltd...
Continue Reading... Category : Merger & Acquisitions | Comments : 0 | Hits : 315
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Posted Date : 10-Jun-2012 , 09:43:20 pm | Posted By CASANSAAR
Rich overseas entities, investing in Indian markets through 'participatory notes' (P-notes/PNs), are estimated to have pulled out over Rs 1 lakh crore (about USD 20 billion) in less than three months on fears of getting caught in the government's taxation net and its black money trail. As a res...
Continue Reading... Category : International Business | Comments : 0 | Hits : 369
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Posted Date : 10-Jun-2012 , 08:06:05 am | Posted By CASANSAAR
The Reserve bank of India (RBI) has permitted NRIs to send remittances more frequently. According to a latest RBI circular released on Friday, resident Indians are now allowed to receive as many as 30 remittances from NRI friends and relatives during a year as against 12 earlier.In the circular addr...
Continue Reading... Category : RBI | Comments : 0 | Hits : 358
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Posted Date : 09-Jun-2012 , 07:48:24 am | Posted By CASANSAAR
Debunking a norm that income-tax laws in India strictly prohibit any allowance to illegal payments, including kickbacks, a Kolkata bench of the Income-Tax Appellate Tribunal (ITAT) has allowed deduction for illegal kickbacks paid by an Indian company to authorities in Iraq, on the ground t...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 664
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Posted Date : 09-Jun-2012 , 06:52:57 am | Posted By CASANSAAR
Most state governments have rejected the Union Human Resource Development (HRD) Ministry proposal to adopt a uniform accounting standard in schools and institutes of higher learning, both government and privately run, in order to ensure greater transparency.The proposal was made at a recent meeting ...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 350
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Posted Date : 09-Jun-2012 , 06:46:22 am | Posted By CASANSAAR
After a rush to retrospectively amend the I-T Act, tax authorities are going slow on raising a fresh demand on Vodafone as the government weighs the possible implications on the arbitration proceedings demanded by the British telecom giant. "We are moving cautiously," confirmed a senior governm...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 310
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Posted Date : 09-Jun-2012 , 06:42:39 am | Posted By CASANSAAR
Market regulator Securities and Exchange Board of India - SEBI has expressed an urgent need to revive investor sentiment and faltering growth. Addressing the Skoch summit in Mumbai today, SEBI Chairman, Upendra Kumar Sinha said that the government should accelerate work on some of the urgent reform ...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 257
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Posted Date : 08-Jun-2012 , 05:50:46 pm | Posted By CASANSAAR
The Reserve Bank today said it has cut down the threshold limit in Real Time Gross Settlement System transactions to Rs 1 lakh from existing Rs 2 lakh until June 9, 2012 due to some technical issues. "To ensure that customers were not unduly inconvenienced, the Reserve Bank temporarily bro...
Continue Reading... Category : Finance | Comments : 0 | Hits : 947
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Posted Date : 08-Jun-2012 , 07:33:27 am | Posted By CASANSAAR
Close on the heels of railways increasing parcel rates by 25 per cent, the freight charges will go up by about 3.6 per cent from July 1 with imposition of service tax. "The government had given service tax exemption on goods carried by railways till June 30, 2012. From July 1 using railways...
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Posted Date : 08-Jun-2012 , 07:27:56 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) cancelled the licence of Madhavpura Mercantile Cooperative Bank (MMCB), bringing to an end its controversy-ridden 18-year operation as a multi-state cooperative bank. In 2001, the bank faced a run on deposits following its alleged exposure to stock ...
Continue Reading... Category : Banking | Comments : 0 | Hits : 356
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Posted Date : 08-Jun-2012 , 07:25:05 am | Posted By CASANSAAR
ICAI COUNCIL GUIDELINES FOR CONVERSION OF CA FIRMS INTO LLPS (Guidelines No.1-CA (7)/03/2011, dated 4th November, 2011) In terms of the Council decision dated 14 July, 2011, following guidelines for conversion of CA firms into LLPs and constitution of separate LLPs by the practicing Chartered Acco...
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Posted Date : 07-Jun-2012 , 09:11:32 pm | Posted By CASANSAAR
The Central Board of Excise and Customs (CBEC), Department of Revenue, Ministry of Finance has issued a Notification No. 48/2012-CUSTOMS (N. T.) dated June 07, 2012 and thereby notifying change in tariff value of Gold as shown in the tables below:  ...
Continue Reading... Category : Excise | Comments : 0 | Hits : 374
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Posted Date : 07-Jun-2012 , 03:53:19 pm | Posted By CASANSAAR
An appeal from President of ICSI...Kindly Click the Link to see the information...
Continue Reading... Category : ICSI | Comments : 0 | Hits : 640
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Posted Date : 07-Jun-2012 , 01:57:39 pm | Posted By CASANSAAR
Union Cabinet has approved capital infusion of 632 crore rupees in some Regional Rural Banks to improve their capital to risk waited assets ratio. The Cabinet approved 50 percent share of the Central government and also decided to extend the scheme of capitalization of weak Regional Rural Banks by a...
Continue Reading... Category : Banking | Comments : 0 | Hits : 391
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Posted Date : 07-Jun-2012 , 07:52:11 am | Posted By CASANSAAR
(a) Services by Government or a local authority excluding the following services to the extent they are not covered elsewhere: (i) services by the Department of Posts by way of speed post, express parcel post, life insurance and agency services provided to a person other...
Continue Reading... Category : Service Tax | Comments : 1 | Hits : 2898
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Posted Date : 07-Jun-2012 , 07:47:35 am | Posted By CASANSAAR
Accounting regulator Institute of Chartered Accountants of India (ICAI) has asked Reebok India’s auditor N Narasimhan & Co, and its former chief operating officer Vishnu Bhagat, one of the accused in the alleged Rs 870-crore fraud case, for various details such as whether the company has a...
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Posted Date : 07-Jun-2012 , 07:43:08 am | Posted By CASANSAAR
The Reserve Bank Wednesday said all rural branches of banks will have to impart financial literacy.This move comes after the central bank found Financial Literacy and Credit Counselling Centres (FLCC) were located in the urban and semi-urban areas."Banks may consider setting up need based FLCs in ot...
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Posted Date : 07-Jun-2012 , 07:41:14 am | Posted By CASANSAAR
Another top official has come under scrutiny in Kanpur's alleged bribery case, in which top Income Tax officials were arrested. Sources say the Central Bureau of Investigation (CBI) will soon be interrogating top IRS official SS Bajpayee. He is the Director General for Investigations in UP and Uttar...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 446
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Posted Date : 07-Jun-2012 , 07:33:07 am | Posted By CASANSAAR
Election Commissioner V S Sampath was on Wednesday appointed the new Chief Election Commissioner who will preside over the next Lok Sabha general elections in 2014. 62-year-old Sampath will take over as CEC after incumbent S Y Quraishi demits office on June 10. Our correspondent reports, President P...
Continue Reading... Category : General | Comments : 0 | Hits : 338
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Posted Date : 06-Jun-2012 , 08:34:45 pm | Posted By CASANSAAR
Gross direct tax collections during April-March of the F.Y. 2011-12 was up by 13.02 percent and stood at Rs.5,90,077 crore as against Rs.5,22,104 crore in the same period in F.Y.2010-11. While gross collection of corporate taxes was up by 11.52 percent. The gross collections on this account stood at...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 238
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Posted Date : 06-Jun-2012 , 06:12:47 pm | Posted By CASANSAAR
All services except 17 in the negative list, will be taxed from July 1, the Finance Ministry has said. Under the 'negative list' approach, services specified in the list will remain outside the tax net. The government has widened the definition of 'Services' to bring in more activities under the ta...
Continue Reading... Category : Service Tax | Comments : 0 | Hits : 1516
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Posted Date : 06-Jun-2012 , 02:08:25 pm | Posted By CASANSAAR
The government on Tuesday unveiled a sevenpronged strategy, including subsidized loans and other sops, to boost exports, which are expected to rise a minimum 20% during the current financial year. While retaining its focus on boosting exports to nontraditional markets in Latin America and Af...
Continue Reading... Category : General | Comments : 0 | Hits : 335
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- NFRA Imposes Monetary penalty of Rs 1 Crore on M/s Dhiraj & Dheeraj
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- NFRA debars Auditors, imposes Rs 50 lakh penalties for lapses in Brightcom, CMIL cases
- GST Important Update - Enhancement in the GST Portal
- NFRA Slaps Rs 5 lakh Penalty on Audit Firm for lapses in Vikas WSP Audit Case
- CBDT extends due date for filing Form 10A/10AB upto 30th June, 2024
- RBI comes out with FEMA regulations for direct listing on international exchange
- 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
- ICICI a foreign firm, subject to FDI norms: Govt
- 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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