-
Posted Date : 06-Jun-2012 , 08:21:56 am | Posted By CASANSAAR
Adidas, the German headquartered sports goods maker, has more problems on its hands than tackling the alleged fraud in its Reebok India business. The international tax division, a wing of the Central Board of Direct Taxes (CBDT), has asked the parent company to file income-tax r...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 538
-
Posted Date : 06-Jun-2012 , 08:18:45 am | Posted By CASANSAAR
Global financial services firm Nomura Tuesday said it expects 0.25 percent cut in short term lending rate by the Reserve Bank in its upcoming monetary policy review on June 18."We now expect a 25 basis points repo rate cut on June 18 due to weaker-than-expected real GDP growth of 5.3 percent in Q1 2...
Continue Reading... Category : RBI | Comments : 0 | Hits : 266
-
Posted Date : 05-Jun-2012 , 05:18:40 pm | Posted By CASANSAAR
Faced with uncertain global environment, government on Tuesday announced a slew of measures, including extension of 2 percent interest subsidy by one year, as part of 7-point strategy to achieve 20 percent increase in exports to USD 360 billion in the current fiscal. Unveiling the ann...
Continue Reading... Category : General | Comments : 0 | Hits : 383
-
Posted Date : 05-Jun-2012 , 08:03:13 am | Posted By CASANSAAR
Indian companies, grappling with slowing business environment and deferment of projects, will now have to contend with another challenge from a recent change in accounting principles that will increase their current liabilities and limit ability to borrow. The changes approved by the ...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 600
-
Posted Date : 05-Jun-2012 , 07:57:45 am | Posted By CASANSAAR
As part of the ongoing efforts to kick-start investments through the qualified foreign investor (QFI) route, the finance ministry has called for a meeting with top foreign institutional investors (FIIs), including Citi, JP Morgan and HSBC. The meeting, to be held tomorrow, will be chaired b...
Continue Reading... Category : Finance | Comments : 0 | Hits : 311
-
Posted Date : 04-Jun-2012 , 07:53:57 pm | Posted By CASANSAAR
One of Kanpur's most senior income tax officers, the Commissioner of Investigations, has been arrested by the CBI. Kunal Singh of the Internal Revenue Service (IRS) was arrested this morning along with three other senior tax officials. They reportedly accepted bribes from the head of a re...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 453
-
Posted Date : 04-Jun-2012 , 04:09:10 pm | Posted By CASANSAAR
Patting revenue officials for doing "good job" last fiscal, Finance Minister Pranab Mukherjee on Monday exuded confidence that they will be able to meet indirect tax collection target of Rs5.05 lakh crore for 2012-13. "They have done good job last year. This year also, I do hope it would be...
Continue Reading... Category : Excise | Comments : 0 | Hits : 289
-
Posted Date : 04-Jun-2012 , 08:24:21 am | Posted By CASANSAAR
An initial probe by the Serious Fraud Investigation Office (SFIO), the investigative arm of the Ministry of Corporate Affairs, into the Reebok India scam suggested the amount of Rs 870 crore as alleged by the company’s German parent, appeared “exaggerated”. “We have ...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 457
-
Posted Date : 03-Jun-2012 , 08:43:56 pm | Posted By CASANSAAR
Union Finance Minister, Shri Pranab Mukherjee will inaugurate the All India Annual Conference of the Chief Commissioners and Directors General of Customs, Central Excise and Service Tax here tomorrow. The two- day Conference at Vigyan Bhawan will deliberate in parallel sessions through four bre...
Continue Reading... Category : Excise | Comments : 0 | Hits : 327
-
Posted Date : 03-Jun-2012 , 08:44:03 am | Posted By CASANSAAR
Gold prices on Saturday jumped sharply up to Rs 1,095 per 10 gram crossing the Rs 30,000 per 10 gram level, its all-time high, on account of rise in global prices of precious metal and weakening rupee. The maximum jump in prices was seen in Chennai, where gold became costlier by Rs 1,095 at...
Continue Reading... Category : International Business | Comments : 0 | Hits : 329
-
Posted Date : 03-Jun-2012 , 08:42:23 am | Posted By CASANSAAR
Petrol prices have been cut by 2 rupees and 2 paise a litre. The Petrol in Delhi will now cost 71.16 paise a litre from midnight tonight as against 73.18 paise at present. This includes reduction of taxes also. Minister of state for petroleum and natural gas Mr.R.P.N.Singh said that the decision has...
Continue Reading... Category : General | Comments : 0 | Hits : 245
-
Posted Date : 02-Jun-2012 , 07:52:11 am | Posted By CASANSAAR
XBRL is a global standard for easy exchange of business information between different government departments and regulators under which financials are filed in a XBRL syntax as an .xml file instead of uploading the records in .doc or pdf format. "This is a welcome move by the MCA ...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 574
-
Posted Date : 02-Jun-2012 , 07:34:35 am | Posted By CASANSAAR
Sale of locally-made software in the country will no more be subject to tax cuts at various levels, assured the Finance Minister Pranab Mukherjee, on Wednesday, bringing much relief to those associated with the nation’s $5-billion industry, reports The Economic Times. Reports coming i...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 511
-
Posted Date : 02-Jun-2012 , 07:20:26 am | Posted By CASANSAAR
Nagpur's Central Excise and Service Tax Department has sent a notice to government auditor, the Comptroller and Auditor General (CAG), stating that it has not paid its service tax.Inquiries reveal that the CAG received Rs around 3.3 crore from three organisations in Nagpur in the last five years for...
Continue Reading... Category : Service Tax | Comments : 0 | Hits : 550
-
Posted Date : 01-Jun-2012 , 09:26:02 pm | Posted By CASANSAAR
India signed an Agreement with the Government of the Kingdom of Bahrain for the Exchange of Information with respect to taxes (TIEA), here yesterday. The Agreement was signed by Shri Namo Narain Meena, Minister of State for Finance (Expenditure and Financial Affairs) on behalf of Government of India...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 348
-
Posted Date : 01-Jun-2012 , 04:06:26 pm | Posted By CASANSAAR
Seeking to fulfil his party's election promises, Uttar Pradesh Chief Minister Akhilesh Yadav today made provisions for unemployment allowance, waving of farm loans and giving laptops to students in his maiden state Budget for 2012-2013. Amidst walkout by BSP, Yadav presented the Budget sayi...
Continue Reading... Category : Budget | Comments : 0 | Hits : 494
-
Posted Date : 01-Jun-2012 , 07:36:41 am | Posted By CASANSAAR
Ministry of Corporate Affairs Government of India Dear Corporates, In Our Continued Endeavor To Enhance The Services To Stakeholders, MCA Announces Launch Of Upgraded LLP Registry From 11th June 2012. Stakeholders- Will Now Have Facility Of Online Payment From A...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 404
-
Posted Date : 01-Jun-2012 , 07:32:22 am | Posted By CASANSAAR
Law enforcement agencies looking into the alleged financial irregularities at the Indian arm of Adidas AG’s Reebok unit are set to widen their probe to include audit firm KPMG India. Maheshwar Dayal, deputy commissioner of police, Gurgaon (east), and a corporate affairs ministry official with...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 647
-
Posted Date : 01-Jun-2012 , 07:23:56 am | Posted By CASANSAAR
Banks agreeing to share data with the income tax authorities will help in checking accumulation of black money and keep tax evaders at bay, industry body Assocham said on Thursday."The Indian and the foreign banks operating in the country have agreed to give income tax authorities access to their da...
Continue Reading... Category : Banking | Comments : 0 | Hits : 525
-
Posted Date : 01-Jun-2012 , 07:20:43 am | Posted By CASANSAAR
Baba Ramdev's Patanjali Yogpeeth Trust is in more trouble. This time for service tax evasion of Rs 4.94 crore payable on the income generated from "yoga shivirs (camps)" organized across the country.The trust was issued notice by the Directorate of Central Excise Intelligence recently afte...
Continue Reading... Category : Service Tax | Comments : 0 | Hits : 450
-
Posted Date : 31-May-2012 , 10:32:35 pm | Posted By CASANSAAR
Reflecting the current economic woes, India's GDP growth rate slipped to 6.5% in 2011-12, the worst in nine years, on account of decline in almost all segments including agriculture and manufacturing. For the quarter ended March, 2012, the economy expanded at 5.3%, again the slowest since 200...
Continue Reading... Category : General | Comments : 0 | Hits : 272
-
Posted Date : 31-May-2012 , 01:28:16 pm | Posted By CASANSAAR
The cabinet on Thursday approved a new telecoms policy, Ambika Soni said, which will replace more than a decade-old rules. The cabinet approved the new policy with some changes from what was proposed earlier, Soni, the minister for information and broadcasting, told reporters after a ...
Continue Reading... Category : General | Comments : 0 | Hits : 1003
-
Posted Date : 31-May-2012 , 08:31:52 am | Posted By CASANSAAR
In what is among the first of many legal battles over the controversial retrospective amendments to the income tax act, the Income Tax Appellate Tribunal has refused to accept the tax department's reliance on the restrospective amendments in the case of royalties. The ITAT, in a...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 340
-
Posted Date : 31-May-2012 , 08:29:13 am | Posted By CASANSAAR
Country's largest realty firm DLF today said it has received an additional tax demand of Rs 457.39 crore from the Income Tax Department for the assessment year 2009-10, mainly on account of disallowance of profits from Special Economic Zone (SEZ). DLF has filed appeals before the appr...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 396
-
Posted Date : 31-May-2012 , 07:37:09 am | Posted By CASANSAAR
The government and the country's accounting regulator will initiate separate probes into the role of Reebok India's auditors, widening the scope of investigation in the alleged Rs 870-crore fraud. "The Serious Fraud Investigation Office (SFIO) will look into the role of audi...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 662
-
Posted Date : 31-May-2012 , 07:29:37 am | Posted By CASANSAAR
The ministry of corporate affairs (MCA) has set up an experts committee under the chairmanship of Jaydeep N Shah, president of the Institute of Chartered Accountants of India (ICAI), for following up action points on several issues associated with investor education and grievances redressa...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 259
-
Posted Date : 31-May-2012 , 07:27:28 am | Posted By CASANSAAR
The defunct stock exchanges and those which are not able to maintain a turnover of Rs 1,000 crore will have to close shops within two years, market regulator Sebi said today. "If stock exchange is not able to achieve the prescribed turnover of Rs 1,000 crore on continuous basis or does not ...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 254
-
Posted Date : 30-May-2012 , 08:55:34 pm | Posted By CASANSAAR
Indian Grandmaster Viswanathan Anand showed immense resilience to beat challenger Boris Gelfand of Israel in a tense rapid chess tie-breaker to win the World Championship crown for the fifth time and fourth in a row here today. Anand won the second game and drew the other three to win the tit...
Continue Reading... Category : General | Comments : 0 | Hits : 721
-
Posted Date : 30-May-2012 , 08:50:22 pm | Posted By CASANSAAR
The Income Tax authorities will soon send reminder notice to Vodafone and raise demands from other companies to recover similar tax dues, which may yield the exchequer a total of Rs 40,000 crore. "We will send reminder notice to Vodafone," a top Finance Ministry official said. There are ei...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 266
-
Posted Date : 30-May-2012 , 02:35:57 pm | Posted By CASANSAAR
Providing comfort to worried foreign investors, Finance Minister Pranab Mukherjee on Wednesday said the Income Tax Department will not re-open cases where assessment proceedings had been finalised before April 1, 2012. "I gave a commitment in Parliament with regard to retrospective am...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 501
- Income Tax Dept serves notices to salaried individuals for documentary proof to claim exemptions
- Bank Branch Audit 2021 - Update on allotment of Branches
- Bank Branch Audit 2020 Updates
- Bank Branch Audit 2021 Updates
- Bank Branch Audit 2020 - Update on Allotment of Branches
- Police Atrocities towards CA in Faridabad - Its Time to be Unite
- Bank Branch Statutory Audit Updates 2019
- Bank Branch Statutory Audit Updates
- Bank Branch Audit 2022 Updates
- Bank Branch Statutory Audit Updates
- NFRA Imposes Monetary penalty of Rs 1 Crore on M/s Dhiraj & Dheeraj
- ICAI notifies earlier announced CA exam dates despite pending legal challenge before SC
- 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
- CAG blames PMO for not acting against Kalmadi
- No service tax on visa facilitators: CBEC
- 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
Professional News For CA,CS,CMA.Fresh Accounting News Articles On Income Tax,Service Tax,Sales Tax, Vat,Company Law,RBI,CAG,Custom,Excise On CASANSAAR
