News - (Get Professional Updates on Whatsapp, Msg on 8285393786)
  • 2 CA's in the CBI's latest list of 23 Undesirable Contact Men (UCM)
    Posted Date : 30-May-2012 , 08:16:33 am | Posted By CASANSAAR

    Some of India's most notorious arms dealers, well-connected chartered accountants and not so well-known consultants operating from various parts of the country have been named in the latest list of 23 "Undesirable Contact Men" (UCM) circulated within the government. The Central Bureau of Inves...

    Continue Reading... Category : ICAI | Comments : 0 | Hits : 2655

  • Police seek to hire CA for Reebok probe
    Posted Date : 30-May-2012 , 08:07:54 am | Posted By CASANSAAR

    Gurgaon Police have sought approval of the director general of police (DGP) to hire a CA to help them investigate the alleged fraud at Reebok . "We have sought approval of the DGP to hire a chartered accountant since this case involves financial intricacies. The CA can understand the irregularities ...

    Continue Reading... Category : ICAI | Comments : 0 | Hits : 641

  • FM to inaugurate the biggest Income Tax building at New Delhi
    Posted Date : 30-May-2012 , 08:00:15 am | Posted By CASANSAAR

    Union Finance Minister, Shri Pranab Mukherjee will inaugurate the biggest office building of the Income tax Department in India. The building will house the offices of salary charges, non-corporate charges, International Taxation, Exemption and other allied charges, accommodating approximately 800 O...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 549

  • Offline bit in online income tax filing to end
    Posted Date : 30-May-2012 , 07:55:31 am | Posted By CASANSAAR

    The one major irritant in online filing ofincome tax returns may be eliminated this year. This is the offline process at the end of the online one, where you need to take a printout of what is called the ITR-V form, sign it, and mail it to the I-Tdepartment's centralized pro...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 568

  • Guidelines for Declaring a Financial Institution as Public Financial Institution Under Section 4a of the Companies Act, 1956
    Posted Date : 30-May-2012 , 07:51:58 am | Posted By CASANSAAR

    The Ministry of Corporate Affairs has after giving due consideration decided that any Financial Institution applying for declaration as PFI shall fulfil the following criteria:- (a) A company or corporation should be established under a special Act or the Companies Act, 1956 being a central act...

    Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 485

  • Govt clears 25 FDI proposals worth Rs 2,973 crore
    Posted Date : 29-May-2012 , 04:05:50 pm | Posted By CASANSAAR

    The government today said it has cleared 25 foreign direct investment (FDI) proposals, including that of AIF III of Mauritius and Mumbai based Microqual Techno, worth Rs 2,973.40 crore.   The applications were cleared after recommendations of the Foreign Investment Promotion Board (FIPB) head...

    Continue Reading... Category : Finance | Comments : 0 | Hits : 372

  • MCA refers Reebok fraud case to SFIO
    Posted Date : 29-May-2012 , 01:38:54 pm | Posted By CASANSAAR

    Corporate Affairs Minister Veerappa Moily today said "something wrong" has been found in the books of Reebok India, which has accused two of its former top executives of a Rs 870-crore fraud.   The minister also said the matter has now been referred to the Serious Fraud Investigation Office (...

    Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 362

  • Finance Act, 2012 as Assented by President
    Posted Date : 29-May-2012 , 08:45:17 am | Posted By CASANSAAR

    FINANCE ACT, 2012  [Act No. 23 of 2012] An Act to give effect to the financial proposals of the Central Government for the financial year 2012-2013. BE it enacted by Parliament in the Sixty-third Year of the Republic of India as follows:— CHAPTER I PRELIMINARY Short title ...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 1279

  • Vodafone to opt for international arbitration against Indian tax authorities
    Posted Date : 29-May-2012 , 07:43:07 am | Posted By CASANSAAR

     British telecom giant Vodafone is likely to rely on international arbitration under the India-Netherlands investment protection agreement rather than approach Indian courts as its epic dispute with the Indian tax authorities looks set to resume soon with the passa...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 493

  • Joint Entrance Exam for IITs, NITs & IIITs from 2013
    Posted Date : 28-May-2012 , 09:51:43 pm | Posted By CASANSAAR

    Government has announced a Joint Entrance Examination, JEE from 2013 for admission into the central funded engineering institutions such as Indian Institute of Technology (IITs) , National Institutes of Technolgy (NITs) and Indian Institute of Information Technology (IIITs).Joint Councils of these i...

    Continue Reading... Category : General | Comments : 0 | Hits : 412

  • Andhra HC strikes down minority sub quota
    Posted Date : 28-May-2012 , 06:05:58 pm | Posted By CASANSAAR

    In a significant development, the Andhra Pradesh High Court on Monday rejected the Centre’s move to create a sub-quota for minorities on religion basis.  A division bench of the High Court comprising Chief Justice Madan B Lokur and Justice PV Sanjay Kumar said that there was no rationale...

    Continue Reading... Category : General | Comments : 0 | Hits : 269

  • Delhi government cuts petrol price by Rs 1.26 per litre
    Posted Date : 28-May-2012 , 06:02:08 pm | Posted By CASANSAAR

    Petrol will be Re 1.26 per litre cheaper in the capital soon. The Congress government of Sheila Dikshit in Delhi has decided not to impose 20 per cent Value Added Tax (VAT) on petrol prices.  State-run oil marketing firms had last Wednesday announced the steepest-ever hike in petrol prices - D...

    Continue Reading... Category : VAT | Comments : 0 | Hits : 390

  • Facebook smartphone to be 'released next year'
    Posted Date : 28-May-2012 , 05:45:05 pm | Posted By CASANSAAR

    Social networking giant Facebook is to launch its own smartphone by next year, reports have suggested.   The New York Times cited unnamed sources, including Facebook employees, suggesting that the network had been hiring several smartphone engineers.   Facebook recently admit...

    Continue Reading... Category : General | Comments : 0 | Hits : 276

  • RBI & 926 bank branches to collect advance income tax
    Posted Date : 28-May-2012 , 05:37:02 pm | Posted By CASANSAAR

    The Reserve Bank and 926 branches of public and private banks will accept advance income tax in Mumbai and Navi Mumbai to avoid long queues and inconvenience to the tax assesses, RBI said on Monday.   "As many as 926 computerised branches of public and private sector banks will receive...Thes...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 189

  • Indian companies paying less for Audit Fees
    Posted Date : 28-May-2012 , 07:42:19 am | Posted By CASANSAAR

      How much did auditors charge companies to certify that their financial records are in order? Just Rs 16 for every Rs 1 lakh of the company's turnover in 2011, suggests a report by the Chennai-based chartered accountancy training centre, Prime Academy. Audit fees are actually down from Rs 17....

    Continue Reading... Category : Auditing | Comments : 0 | Hits : 1435

  • Black money cases: I-T dept forms lawyer teams for prosecution
    Posted Date : 28-May-2012 , 07:39:18 am | Posted By CASANSAAR

    The Income Tax department has initiated a special country-wide exercise to engage a battery of lawyers for fighting black money cases and filing prosecution in a host of other tax evasion cases. Finance Minister Pranab Mukherjee, in his white paper on black money tabled during the recently conc...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 331

  • Sebi keeps consent window open to settle serious offences
    Posted Date : 28-May-2012 , 07:35:02 am | Posted By CASANSAAR

    A high-powered advisory committee or panel of whole-time members may settle violations excluded from the new framework   Despite shutting the consent route on serious market offences like insider trading and front running, the Securities and Exchange Board of India (Sebi) has left a window op...

    Continue Reading... Category : SEBI | Comments : 0 | Hits : 233

  • Demands on IT companies to be relaxed by the Income-Tax department?
    Posted Date : 28-May-2012 , 07:30:09 am | Posted By CASANSAAR

    There is a flicker of hope for Indian software companies battling a barrage of claims from theIncome-Tax Department.   In the last few days, the Central Board of Direct Taxes, an arm of the finance ministry, has asked tax offices in cities where the software firms are based...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 246

  • Revised CBDT Instruction on Grant of TDS Credit For AY 2011-12
    Posted Date : 28-May-2012 , 07:20:00 am | Posted By CASANSAAR

    Section 143 of the Income-tax Act, 1961 – Assessment – General – Processing of returns of A.Y. 2011-12 – Steps to clear backlog – Withdrawal of Instruction No. 1/2012, dated 2-2-2012   Instruction No. 4/2012 [F. No. 225/34/2011-ITA.II], dated 25-5-2012   T...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 799

  • RIL buyback gains pace; purchases shares worth Rs 1,481 crore
    Posted Date : 27-May-2012 , 05:23:36 pm | Posted By CASANSAAR

    After a slow start, Reliance Industries Ltd (RIL)'s share buyback programme seems to have gathered pace with the company having acquired stocks worth Rs 1,481 crore since launch of the share repurchase offer in February. According to the information available with the bourses, Mukesh ...

    Continue Reading... Category : Shares & Stock | Comments : 0 | Hits : 313

  • Institute of Chartered Accountants of India offers to work with investigators to unearth black money
    Posted Date : 27-May-2012 , 08:06:41 am | Posted By CASANSAAR

    The Institute of Chartered Accountants of India (ICAI) has announced initiatives to help government investigators track unaccounted money stashed away overseas. The apex body of accountants has said it will also assist in audits of political parties, non-governmental organisations (NGOs) a...

    Continue Reading... Category : ICAI | Comments : 0 | Hits : 566

  • Soon, GST in India: Sushil Modi
    Posted Date : 27-May-2012 , 08:02:42 am | Posted By CASANSAAR

    Deputy Chief Minister of Bihar and Chairperson of Empowered Committee of State Finance Ministers Sushil Kumar Modi, on Friday, said the country was “nearing the implementation of the goods and services tax (GST).” Delivering the inaugural address at a one-day seminar on ‘Taxation ...

    Continue Reading... Category : GST | Comments : 0 | Hits : 369

  • Foreign companies pulling more money out of India, says Nomura
    Posted Date : 26-May-2012 , 09:19:08 am | Posted By CASANSAAR

    Foreign direct investment, the sort of sticky long-term money India craves to fund its current account deficit and build up its infrastructure, may not be so stable after all. According to a Nomura report, multinational companies have been pulling money out of India at an accelerating rate, moving ...

    Continue Reading... Category : International Business | Comments : 0 | Hits : 328

  • Sebi won't settle insider trading through consent
    Posted Date : 25-May-2012 , 11:08:30 pm | Posted By CASANSAAR

    Securities and Exchange Board of India (Sebi) will not settle serious offenses including insider trading and front running by consent process.   “The defaults falling in the category of fraudulent and unfair trade practices, which in the opinion of Sebi are very serious and have caused ...

    Continue Reading... Category : SEBI | Comments : 0 | Hits : 196

  • India and Netherlands sign Protocol Amending DTAC
    Posted Date : 25-May-2012 , 11:06:07 pm | Posted By CASANSAAR

    The Convention between the Kingdom of Netherlands and the Republic of India for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on income and on capital was signed on 30th July, 1988 (DTAC). Both India and Netherlands have concluded a Protocol to amend...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 194

  • Income Tax department working on strategy to prevent corruption
    Posted Date : 25-May-2012 , 08:24:45 am | Posted By CASANSAAR

    The Income Tax Department is working on a comprehensive strategy to deal with corruptionwithin the organisation.  The work relating to identification of potential areas of corruption related to the organisational activities and development of an action plan for its mitigation ha...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 353

  • RBI, finance ministry differ over rural bank branches
    Posted Date : 25-May-2012 , 08:21:46 am | Posted By CASANSAAR

    The Reserve Bank of India, RBI, and the finance ministry seem to have differences on the way banks should go about ensuring financial inclusion. While both the regulator and the ministry are passionate about providing banking services at low cost to the disadvantaged, a difference of opinion be...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 308

  • Income Tax department scanning laptops, email records of Reebok top honchos
    Posted Date : 25-May-2012 , 08:17:54 am | Posted By CASANSAAR

    The Income Tax (I-T) department is scanning laptops and computersof top executives of Reebok India, including their email records, to find out details of the alleged financial irregularities.  On May 2, a team of I-T officials raided Gurgaon office of the spo...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 326

  • Zone-shifting of Candidates for June - 2012 CA - CPT Exams
    Posted Date : 24-May-2012 , 08:02:15 pm | Posted By CASANSAAR

    IMPORTANT ANNOUNCEMENT  May 23rd, 2012    Subject: Zone-shifting of candidates for June - 2012 CA – CPT Exams    Due to paucity of accommodation in some Zones opted by the candidates in the cities of Chennai, Kolkatta and Hyderabad, some of the candidates have bee...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 455

  • New Study Reveals That Facebook Caused A Third Of Divorces In 2011
    Posted Date : 24-May-2012 , 08:15:44 am | Posted By CASANSAAR

    Facebook CEO Mark Zuckerberg got married on Saturday to his longtime girlfriend Priscilla Chan, but if the happy couple wants to stay together, they might want to consider staying off of Facebook.   According to a U.K. survey by Divorce Online, a legal services firm, more than a third of divo...

    Continue Reading... Category : General | Comments : 0 | Hits : 568

Search News
News By Categories More Categories

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