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Posted Date : 04-May-2012 , 05:06:18 pm | Posted By CASANSAAR
The government is considering a review of India's tax treaty with Mauritius to raise inflows of Foreign Direct Investment through that country. In reply to a question in the Lok Sabha today, Minister of State for Finance S.S. Palanimanickam said a substantial percent of foreign investment in th...
Continue Reading... Category : International Business | Comments : 0 | Hits : 351
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Posted Date : 04-May-2012 , 05:01:32 pm | Posted By CASANSAAR
Facebook, which is gearing to launch its IPO later this month, today said the offering will be priced between USD 28-35 a share. In a regulatory filing, Facebook said it will sell 337.41 million shares and the initial public offering price will be between USD 28 and USD...
Continue Reading... Category : International Business | Comments : 0 | Hits : 272
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Posted Date : 04-May-2012 , 04:57:15 pm | Posted By CASANSAAR
The US Transportation Department has slapped a USD 80,000 fine on Air India for failing to post customer service and tarmac delay contingency plans on its website and adequately inform passengers about its optional fees. This is the first penalty assessed for a violation of the Department's new air...
Continue Reading... Category : International Business | Comments : 0 | Hits : 233
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Posted Date : 04-May-2012 , 08:28:34 am | Posted By CASANSAAR
A writ plea from V Venkatesa Sivakumar, a chartered accountant (CA) of Rangarajapuram in Kodambakkam, to constitute an independent experts commitee to study the existing examination system for CA and consider the necessity and possibility of revamping the same in the interest of the students, was re...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 788
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Posted Date : 04-May-2012 , 07:59:51 am | Posted By CASANSAAR
The government Thursday informed Parliament that it has initiated prosecution proceedings against Vedanta Resources-owned Sesa Goa for violation of certain provisions of the Companies Act."Based on the recommendation made by SFIO in its investigation report, prosecutions under Sections 147 and 395 o...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 231
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Posted Date : 04-May-2012 , 07:57:43 am | Posted By CASANSAAR
Stock market regulator Securities and Exchange Board of India has decentralised the process of filing offer documents with effect from May 14. For an issue size of up to Rs 500 crore, companies would be required to file offer documents with the respective regional office of SEBI. That is, companie...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 245
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Posted Date : 04-May-2012 , 07:51:21 am | Posted By CASANSAAR
Agricultural Produce Marketing Committee's services other than its core service will attract tax, the Central Board of Excise and Customs has said The board has said as statutory bodies APMCs provide basic facilities out of the 'market fee' collected from the licensees mainly to facilitat...
Continue Reading... Category : Service Tax | Comments : 0 | Hits : 308
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Posted Date : 04-May-2012 , 07:48:06 am | Posted By CASANSAAR
The Income Tax department has detected more than Rs 5,800 crore of concealed income in the low-profile micro, small and medium enterprises (MSME) sector during the fiscal 2010-11.The department, which carries out a number of searches against other high income sectors like real estate, manufacturi...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 200
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Posted Date : 04-May-2012 , 07:45:46 am | Posted By CASANSAAR
The government will infuse about Rs 30,000 crore in cash-strapped Air India over the next nine years as part of a turn around plan for the state-run airline, Parliament was informed Thursday.To a question on whether the government has decided to infuse Rs 30,000 crore into Air India till 2020, Civil...
Continue Reading... Category : General | Comments : 0 | Hits : 163
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Posted Date : 03-May-2012 , 07:39:14 pm | Posted By CASANSAAR
Finance Minister Pranab Mukherjee on Thursday said government may clarify its stand on Vodafone tax controversy in Parliament at the time of discussion on Finance Bill, 2012. “I cannot respond to any speculative questions. Parliament is in session. If anything is to be clarified, I will (do i...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 232
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Posted Date : 03-May-2012 , 03:50:16 pm | Posted By CASANSAAR
An Advisory Group for International Taxation and Transfer Pricing has been constituted by Central Board of Direct Taxes , Department of Revenue, Ministry of Finance. The Group would comprise of the following members:- i. &nb...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 275
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Posted Date : 03-May-2012 , 01:52:57 pm | Posted By CASANSAAR
Financial crisis in Europe could escalate and along with slow recovery in the US, this year will be crucial for global economy but Asian nations must continue long term structural reforms while insulating the region against the troubles, ADB said today. "While authorities continu...
Continue Reading... Category : International Business | Comments : 0 | Hits : 193
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Posted Date : 03-May-2012 , 08:44:46 am | Posted By CASANSAAR
The Delhi High Court today asked the Institute of Charted Accountants in India (ICAI) to allow disabled persons appearing for the CA examination to take the their relatives' help in writing the papers for them. Directing ICAI to relax its norms for the disabled CA examinees, a bench of Acting Chief ...
Continue Reading... Category : Students Zone | Comments : 0 | Hits : 550
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Posted Date : 03-May-2012 , 08:07:39 am | Posted By CASANSAAR
Attempting to raise revenue, the government has targeted Tax Deducted at Source (TDS) and proposed penal provisions for inaccurate details and ensuring filing of corrective returns from July 1. "From July 1, government may impose penalty of Rs 10,000 and Rs 1,00,000 for inaccurate TDS returns and...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 951
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Posted Date : 03-May-2012 , 08:00:08 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) has identified IT-enabled services, particularly enterprise resource planning (ERP), as a thrust area. Mr Jaydeep Narendra Shah, president, ICAI, announced this here on the occasion of the 40th anniversary of the Thiruvananthapuram bran...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 365
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Posted Date : 03-May-2012 , 07:57:47 am | Posted By CASANSAAR
The Reserve Bank of India has laid out a six-year road map to make Indian banks safer and avoid recurrence of the 2008 crisis, but it will need an estimated Rs 1.5 lakh crore in capital at a time it is scarce. The central bank has raised the equity component in overall capital and restricted div...
Continue Reading... Category : RBI | Comments : 0 | Hits : 484
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Posted Date : 02-May-2012 , 08:46:09 pm | Posted By CASANSAAR
A news report has appeared in the Financial Express, Delhi edition, 27th April, 2012 captioned “I-T didn’t warn Vodafone of tax burden or dispute deal format”. In this regard, the Central Board of Direct Taxes (CBDT) has issued the following clarification:- In this connection,...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 524
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Posted Date : 02-May-2012 , 08:40:06 am | Posted By CASANSAAR
Examination DepartmentFeedback of Candidates on Question Paper-Chartered Accountants Examinations, May 2012. The Institute has developed an online Feedback form on the Question Papers of Chartered Accountants Examinations to be held from 2nd May 2012 to 17th May 2012 at the link http://www.ica...
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Posted Date : 02-May-2012 , 08:37:08 am | Posted By CASANSAAR
Dear Member, As you are aware, the institute in its endeavour to provide instant services to the members, has already introduced various online services through the Institute’s websites www.icsi.edu / www.icsi.in The Institute is continuously striving to intr...
Continue Reading... Category : ICSI | Comments : 0 | Hits : 470
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Posted Date : 02-May-2012 , 08:35:04 am | Posted By CASANSAAR
An Institute of Chartered Accountants of India (ICAI) core group mining data on black money and benami transactions will submit its report to government soon. Mr Jaydeep Narendra Shah, President, ICAI, announced this here on the occasion of the 40{+t}{+h} anniversary of the Thiruvananthapuram branc...
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Posted Date : 01-May-2012 , 07:58:28 pm | Posted By CASANSAAR
Ending hassles of employers in payment of EPF subscription of employees, the government today started an electronic mechanism that promises to bring transparency and accessibility. The initiative, launched by Labour and Employment Minister Mallikarjun Kharge, offers an opportunity to emplo...
Continue Reading... Category : General | Comments : 0 | Hits : 464
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Posted Date : 01-May-2012 , 06:09:33 pm | Posted By CASANSAAR
India's exports grew 21 per cent and marginally crossed the exports target at 303.7 billion US Dollars in 2011-12 over the previous fiscal. According to the Commerce Ministry data released today, imports shot up by 32.1 per cent to 488.6 billion dollars, leaving highest-ever trade deficit of 184.9 b...
Continue Reading... Category : International Business | Comments : 0 | Hits : 273
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Posted Date : 01-May-2012 , 07:08:29 am | Posted By CASANSAAR
The Council has decided that the General Management and Communication Skills (GMCS) Programme, presently being organized for 15 days for the CA students should be organized twice during the period of articled training as under:(i) GMCS-I (15 days) - during...
Continue Reading... Category : Students Zone | Comments : 0 | Hits : 900
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Posted Date : 01-May-2012 , 07:03:24 am | Posted By CASANSAAR
Income Tax Department has finally released Return Preparation Software for ITR-1 (SAHAJ) which is applicable for A.Y. 2012-13 or financial year 2011-12. The same can be used to file your return online. Form Name Return Preparation Software Sy...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 1860
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Posted Date : 30-Apr-2012 , 01:42:42 pm | Posted By CASANSAAR
The International Labour Organisation (ILO) today warned that the global employment situation is alarming and unlikely to improve soon. The agency said that austerity measures, especially in advanced economies, were hurting job creation.In a report, the ILO said the situation was likely to get worse...
Continue Reading... Category : International Business | Comments : 0 | Hits : 312
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Posted Date : 30-Apr-2012 , 07:35:41 am | Posted By CASANSAAR
A Kalkaji-based chartered accountant, who is also a builder, was shot at by assailants in Sector 63 in Noida on Sunday afternoon. Police said it seems to be a case of personal rivalry. The victim was shot in the chest and has been admitted in a city hospital. His condition is critical...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 1123
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Posted Date : 30-Apr-2012 , 07:24:40 am | Posted By CASANSAAR
The quantity of money locked in income tax disputes has seen a sharp rise in 2011, with more aggression by the tax department. The disputed amount jumped from Rs 2,43,603 crore to Rs 4,36,741 crore between January and December 2011. The disclosure was made by the finance ministry...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 420
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Posted Date : 30-Apr-2012 , 07:12:28 am | Posted By CASANSAAR
Market regulator Sebi is set to put in place a new and detailed mechanism for its 'consent' procedure -- an out-of-court-like settlement through which it settles cases of suspected irregularities by listed companies and various market entities. The Securities and Exchange Board o...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 206
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Posted Date : 30-Apr-2012 , 07:09:06 am | Posted By CASANSAAR
The primary concern of foreign institutional investors that they might be taxed for business income in India under the proposed GAAR regime will be addressed as the finance ministry finalises the rules. Government sources said there was no reason for FIIs to worry about their earnings fr...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 406
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Posted Date : 28-Apr-2012 , 10:16:13 pm | Posted By CASANSAAR
Divested of catering services, the Indian Railway Catering and Tourism Corporation (IRCTC) is now focusing more on online ticket booking system across the country. Encouraged by sudden increase in the online ticket booking, the IRCTC has chalked out various steps to provide better servic...
Continue Reading... Category : General | Comments : 0 | Hits : 427
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