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Posted Date : 11-May-2012 , 04:37:23 pm | Posted By CASANSAAR
Facebook: 10 little-known facts Facebook Inc is all set to hit US stock markets. The world's largest social networking website is seeking as much as $96 billion in its initial public offering. According to data compiled by Bloomberg, Facebook, co-founded by Mark Zuckerberg in 2004 in a Harv...
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Posted Date : 11-May-2012 , 07:34:52 am | Posted By CASANSAAR
Imports of goods protected by patent or trademarks are permitted even without authorisation of the Intellectual Property Rights (IPR) holder, according to the Finance Ministry.The clarification was given in the backdrop the dispute between global personal computer maker Dell and traders who were sou...
Continue Reading... Category : Custom | Comments : 0 | Hits : 461
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Posted Date : 11-May-2012 , 07:30:48 am | Posted By CASANSAAR
Higher education institutes in the country will soon have to report their financial information in a standard and uniform format set by the Institute of Chartered Accountants of India. As per the format, the institutes will now have to disclose their balance sheet and the income an...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 697
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Posted Date : 11-May-2012 , 07:26:18 am | Posted By CASANSAAR
Eighteen state-run firms, including bluechips like ONGC, IOC, OIL and GAIL, did not have the required number of independent directors on their board in 2010-11 fiscal, a CAG report said. Of the 466 Central Public Sector Enterprises (CPSEs) audited by the CAG during 2010-11, 18 companies did not...
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Posted Date : 10-May-2012 , 10:21:09 pm | Posted By CASANSAAR
In order to arrest the declining value of the rupee, the Reserve Bank today asked exporters to sell 50 per cent of their retained foreign exchange earning. The central bank has also fixed limit for intra-day trading of foreign currency by banks. "On a review of the scheme, it has b...
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Posted Date : 10-May-2012 , 10:18:00 pm | Posted By CASANSAAR
The Union Cabinet today approved a bill to regulate the micro finance industry and bring the micro lenders under the purview of the Reserve Bank. "It (Micro Financial Sector Development and Regulation Bill, 2011,) has also been cleared," Finance minister Pranab Mukherjee tol...
Continue Reading... Category : Finance | Comments : 0 | Hits : 313
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Posted Date : 10-May-2012 , 02:45:23 pm | Posted By CASANSAAR
Facebook has created its own ‘App Centre’, in which it will showcase the best apps across the web, all mobile platforms and on the social network. The App Centre will be rolled out over the coming weeks and aims to display the finest Ios, Android, mobile and web apps. F...
Continue Reading... Category : General | Comments : 0 | Hits : 470
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Posted Date : 09-May-2012 , 10:42:23 pm | Posted By CASANSAAR
A day after the approval of the Finance Bill by the Lok Sabha, the government on Wednesday said that it will move ahead to recover the tax and penalty from the British telecom major Vodafone which is currently estimated at Rs 20,300 crore.Finance Secretary R S Gurjal said that no new notice would be...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 440
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Posted Date : 09-May-2012 , 10:40:51 pm | Posted By CASANSAAR
The RBI has allowed banks to use funds from foreign currency non-resident deposits as collateral against lending to related local residents. The funds in the foreign currency non-resident (FCNR) can be used for foreign exchange needs or for working capital needs in rupees for exporters and corporat...
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Posted Date : 09-May-2012 , 05:45:09 pm | Posted By CASANSAAR
ICICI Bank , India’s No. 2 lender, raises foreign currency deposit rates by up to 175 basis points, effective May 8. It raised rates for 1 to 2 year tenure by 75 basis points and for 3 to 5 year tenure by 175 basis points. The move comes within a week of Reserve Bank hiking intere...
Continue Reading... Category : Banking | Comments : 0 | Hits : 311
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Posted Date : 09-May-2012 , 05:10:40 pm | Posted By CASANSAAR
India proposes to take the US to WTO against the latter's visa fee hike, which discriminates Indian software companies from American firms. "Department of Commerce proposes to seek consultations with the USA under the Dispute Settlement Understanding of WTO," Minister of State for Commerce and ...
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Posted Date : 09-May-2012 , 08:54:24 am | Posted By CASANSAAR
Finance minister Pranab Mukherjee on Tuesday offered no relief to British telecom major Vodafone on its five-year-old tax dispute with the Indian government, making it clear there was no rethink on the proposal to allow authorities to tax older corporate deals. The remarks are seen as a ...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 350
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Posted Date : 09-May-2012 , 08:40:48 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) maintains data on Outstanding credit of Scheduled Commercial Banks (SCBs), not on loans disbursed. Outstanding credit of SCBs is given below: (Rs. Crore) As on 31 March 2008 As on 31 March 2009 ...
Continue Reading... Category : Banking | Comments : 0 | Hits : 335
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Posted Date : 09-May-2012 , 08:39:21 am | Posted By CASANSAAR
The Competition Commission of India (CCI) has constituted an Eminent Persons Advisory Group (EPAG). This will serve as a group of ‘wise persons’ to give broad inputs and advice on larger issues impacting markets and competition, good international practices, improved advocacy etc. to the...
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Posted Date : 09-May-2012 , 08:35:24 am | Posted By CASANSAAR
The Reserve Bank on Monday allowed non-resident Indians (NRIs) to transfer funds from non-resident ordinary (NRO) account to Non-Resident External (NRE) account subject to a ceiling of $1 million in a financial year. "On a review, it has been decided that henceforth NRI... shall be eligible...
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Posted Date : 08-May-2012 , 10:29:21 pm | Posted By CASANSAAR
The government today said it has collected over Rs 4.93 lakh crore as per provisional estimates from direct taxes during the 2011-12 fiscal, as against a revised estimate of Rs 5 lakh crore. The net direct tax collection (provisionally) stood at Rs 4,93,912 crore, Minister of State for Fina...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 203
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Posted Date : 08-May-2012 , 10:26:37 pm | Posted By CASANSAAR
The Lok Sabha today passed the Finance Bill, giving effect to the financial proposals of the Central government for the fiscal 2012-13. The government will bring a white paper on black money in the current session of Parliament. Mr. Pranab Mukherjee disclosed this while replying to a debate on the F...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 508
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Posted Date : 07-May-2012 , 10:35:04 pm | Posted By CASANSAAR
In order to encourage foreign banks to operate in India as subsidiaries, Finance Minister Pranab Mukherjee today said such move be tax neutral. "The Reserve Bank of India is formulating a scheme for subsidiarisation of Indian branches of foreign banks to ring fence Indian capital and India...
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Posted Date : 07-May-2012 , 10:30:10 pm | Posted By CASANSAAR
According to the information furnished by the Institute of Chartered Accountants of India (ICAI) a High Power Committee (HPC) appointed by them for examining the operation of Multinational Network Accounting Firms (MNAFs) in India, has observed, that certain Indian CA firms and private limited compa...
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Posted Date : 07-May-2012 , 09:52:18 pm | Posted By CASANSAAR
Finance Minister Pranab Mukherjee today announced deferment of that implementation of the General Anti-Avoidance Rules or GAAR till April 2013. The proposal was made in the budget for the current fiscal. The rule is being used to check avoidance of tax. Introducing the Finance Bill for the curr...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 412
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Posted Date : 07-May-2012 , 05:56:23 pm | Posted By CASANSAAR
New Delhi: Here's some good news for people employed in the organised sector. Retirement fund body EPFO is reportedly planning to provide portable numbers to salaried individuals. The move might stem the trend of premature withdrawal which most people prefer over getting their account...
Continue Reading... Category : General | Comments : 0 | Hits : 447
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Posted Date : 07-May-2012 , 05:49:32 pm | Posted By CASANSAAR
India will slash the tax on long-term capital gains for private-equity investors to 10 percent from 20 percent, a finance ministry statement said on Monday. India will also exempt long-term capital gains on the sale of unlisted securities in initial public offerings from tax, the statement sa...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 309
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Posted Date : 07-May-2012 , 07:51:31 am | Posted By CASANSAAR
The income tax department is unlikely to waive penalty on Vodafone’s tax dues as it feels this will create a bad precedent for all its major pending tax cases. It has also decided to make it compulsory for all its officers from now on to charge penalty on taxes that get due but are not paid...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 375
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Posted Date : 07-May-2012 , 07:46:51 am | Posted By CASANSAAR
The US tax authorities are in for a major windfall from Facebook chief Mark Zukerberg, as the upcoming IPO of the social networking giant could make him pay in taxes as much as $ 903 million (about Rs 5,000 crore). Interestingly, his total estimated tax payout amounts to more than 85 per cent o...
Continue Reading... Category : International Business | Comments : 0 | Hits : 414
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Posted Date : 06-May-2012 , 02:38:42 pm | Posted By CASANSAAR
Soon, a minimum of 60 per cent marks in an under-graduation course would make one eligible to enter the Chartered Accountancy course. The Institute of Chartered Accountants of India (ICAI) will soon introduce the lateral entry option for graduates that will exempt them from appearing for the Common ...
Continue Reading... Category : Students Zone | Comments : 0 | Hits : 1555
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Posted Date : 05-May-2012 , 09:49:49 pm | Posted By CASANSAAR
Important Announcement No.13-CA(Exams)/May, 2012/2May 5, 2012 Enquires are being received as to whether the examination for the Paper - 4 of Professional Competence Examination (PCE) and Paper - 3 of Integrated Professional Competence Examination (IPCE) Cost Accounting and Financial Management w...
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Posted Date : 05-May-2012 , 03:09:02 pm | Posted By CASANSAAR
The Pension Fund Regulatory Development Authority (PFRDA) has empanelled six life insurers for providing annuity services to subscribers of the National Pension Scheme (NPS). The NPS was extended to all citizens from May 1, 2009. After retirement at the age of 60 years, an employee ca...
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Posted Date : 05-May-2012 , 08:12:33 am | Posted By CASANSAAR
Angry mobile operators have slammed the telecom regulator's recommendations on auction of spectrum and have said they would be forced to shut shop if these are accepted but independent estimates show that the impact on tariff would be marginal - small enough for the operators to bear the costs. A...
Continue Reading... Category : General | Comments : 0 | Hits : 393
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Posted Date : 05-May-2012 , 08:06:54 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) maintains data on outstanding credit of Scheduled Commercial Banks (SCBs) to public, private corporate and household sectors and not on loans disbursed to different sectors of the economy. The outstanding credit of SCBs to Private Corporate Sector during th...
Continue Reading... Category : Banking | Comments : 0 | Hits : 324
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Posted Date : 05-May-2012 , 08:02:52 am | Posted By CASANSAAR
The Ministry of Corporate Affairs has set up a Committee to develop the roadmap for future implementation of Extensible Business Reporting Language (XBRL). This Committee comprises of XBRL experts and representatives fromthe corporate sector as well as the Institute of Chartered Acco...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 306
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- File Service Tax Return in time as Maximum Penalty increased 10 times to Rs. 20000
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