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  • Govt announces new FDI norms for FIIs
    Posted Date : 10-Apr-2012 , 07:54:50 pm | Posted By CASANSAAR

    The government today announced new Foreign Direct Investment, FDI norms for Foreign Institutional Investors, FIIs. Under the new norms, FIIs can now invest up to 23 per cent in commodity exchanges without seeking prior approval of the government. The Department of Industrial Policy and Promotion, DI...

    Continue Reading... Category : FEMA | Comments : 0 | Hits : 466

  • India launches 4G mobile services
    Posted Date : 10-Apr-2012 , 07:52:13 pm | Posted By CASANSAAR

    Telecom Minister Kapil Sibal today launched the country's first ever fourth generation mobile services in Kolkata. Today's launch is a major milestone for India and Bharti Airtel as it will result in India becoming one of the first countries in the world to commercially deploy the cutting-edge techn...

    Continue Reading... Category : General | Comments : 0 | Hits : 290

  • Tech Mahindra-Satyam aims at 10,000 new hires this yea
    Posted Date : 10-Apr-2012 , 03:02:45 pm | Posted By CASANSAAR

    The combined entity resulting from the merger of Tech Mahindra Ltd andSatyam Computer Services Ltd may hire as many as 10,000 new employees in the current fiscal year, said Vineet Nayyar, CEO of Tech Mahindra. “We are trying to secure more efficiencies internally, we’ll see how it ...

    Continue Reading... Category : General | Comments : 0 | Hits : 327

  • CAG should appoint auditors for parties: ICAI
    Posted Date : 10-Apr-2012 , 08:35:18 am | Posted By CASANSAAR

    With a view to bringing in more transparency and accountability in their financial dealings, the Comptroller and Auditor General of India (CAG) could be asked to appoint independent auditors for accounting financial details of political parties. The Institute of Chartered Accountants of India, ...

    Continue Reading... Category : ICAI | Comments : 0 | Hits : 593

  • Ministry wants bank audit panels to get more time to vet earnings
    Posted Date : 10-Apr-2012 , 08:32:18 am | Posted By CASANSAAR

    The Union finance ministry has proposed that banks give their balance sheet to their respective audit committees at least two days before their boards of directors meet for finalising the results.   In a recent communication to banks, the proposal was suggested and feedback sought. The minist...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 423

  • RBI allows cooperative banks, RRBs to transfer funds online
    Posted Date : 10-Apr-2012 , 08:30:10 am | Posted By CASANSAAR

    To popularise electronic transfer of funds, the Reserve Bank of India (RBI) on Monday allowed regional rural banks (RRBs) and cooperative banks to participate in the centralised payment systems.   With this, all the banks can now transfer funds electronically through real time gross settlemen...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 340

  • E-filing taxpayers won't have to acquire a digital signature
    Posted Date : 10-Apr-2012 , 08:24:55 am | Posted By CASANSAAR

    The income tax department is set to introduce a free-of-cost and easy-to-operate electronic signature facility to file income tax returns electronically.   The facility will help taxpayers who do not have a digital signature. It will save them from the mandatory requirement of sending a hard ...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 1295

  • Study Team set-up to examine the possibility of a Common Tax Code for Service Tax and Central Excise
    Posted Date : 09-Apr-2012 , 09:13:01 pm | Posted By CASANSAAR

    As announced by the Union Finance Minister, Shri Pranab Mukherjee in his Budget speech, a Study Team has been set-up by the Government, under the leadership of Shri. M. K. Gupta to examine the possibility of a common tax code for service tax and central excise, which could be adopted to harmonize th...

    Continue Reading... Category : Service Tax | Comments : 0 | Hits : 281

  • Centre for CAG audit of NRHM
    Posted Date : 09-Apr-2012 , 09:43:07 am | Posted By CASANSAAR

    After the multi-crore National Rural Health Mission (NRHM) scam in Uttar Pradesh, the Centre has decided to tighten financial management of the states. In a move that will ensure transparency, for the first time ever the government has proposed annual audits of its flagship scheme NRHM by the Comptr...

    Continue Reading... Category : Auditing | Comments : 0 | Hits : 553

  • Govt panel proposes additional taxes on personalised vehicles
    Posted Date : 09-Apr-2012 , 09:38:29 am | Posted By CASANSAAR

    A government sub-committee looking into probable sources of funds for urban transport projects in the 12th Plan has suggested the creation of a national fund, resource for which can be generated through taxes on vehicles and petrol consumption. The recent report of the Sub-Committee on Financing ...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 395

  • Pranab expresses satisfaction over increase in direct tax base
    Posted Date : 09-Apr-2012 , 09:35:23 am | Posted By CASANSAAR

    Finance Minister Pranab Mukherjee has expressed satisfaction over increase in direct tax base. Speaking after inaugurating the Direct Taxes Training Institute in Bangalore on Sunday, the Minister said the country's heavy dependence on indirect taxes earlier was worrying, but now direct tax base has ...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 228

  • Banks should play a key role in promoting inclusive growth: Pranab
    Posted Date : 08-Apr-2012 , 08:28:14 am | Posted By CASANSAAR

    Union Finance Minister Pranab Mukherjee says, inclusive growth is a key strategy to achieve and banks should play a key role in promoting it. He was speaking at the 6th International Banking and Finance Conference 2012 in Mumbai on Saturday.Mukherjee underlined the need to ensure every segment of th...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 245

  • Govt committed to infusing funds in PSU banks, says FM
    Posted Date : 07-Apr-2012 , 05:58:21 pm | Posted By CASANSAAR

    The government will recapitalise the state-owned banks to help them tide over the problems arising out of slow economic growth, Finance Minister Pranab Mukherjee said in Mumbai on Saturday. "Going forward if GDP growth slows down, there could be some impact on asset quality (of banks)," Mukherjee s...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 277

  • Bullion traders and jewellers call off 21-day strike on assurance from FM
    Posted Date : 06-Apr-2012 , 06:22:17 pm | Posted By CASANSAAR

    Agitating bullion traders and jewellers on Friday called off their 21-day strike after an assurance from Finance Minister Pranab Mukherjee that the government will consider their demand for rollback of excise duty on unbranded jewellery. "We have decided to suspend the strike till May 10," All I...

    Continue Reading... Category : General | Comments : 0 | Hits : 317

  • Facebook picks Nasdaq to list its shares: Report
    Posted Date : 06-Apr-2012 , 01:39:14 pm | Posted By CASANSAAR

    Popular social networking site Facebook, which will soon launch its initial public offering, has zeroed in on the Nasdaq Stock Exchange to list its shares, a media report said. Billionaire Mark Zuckerberg-led Facebook has chosen the city-based Nasdaq over the New York Stock Exchange for its listing,...

    Continue Reading... Category : International Business | Comments : 0 | Hits : 358

  • Sebi mulls new ethics code for brokers
    Posted Date : 05-Apr-2012 , 11:41:23 pm | Posted By CASANSAAR

    With an aim to check flow of illicit funds and other manipulative activities in the stock market, regulator Sebi is planning more frequent inspection of various market entities and a new code of conduct for brokers.     Besides, the capital market regulator would also ask all the mark...

    Continue Reading... Category : SEBI | Comments : 0 | Hits : 257

  • Last Date Extended to 11th April 2012 for Empanelment for Observers for the CA Exam to be held in May-2012 and the Common Proficiency Test to be held in June-2012
    Posted Date : 04-Apr-2012 , 09:59:59 pm | Posted By CASANSAAR

    4th April, 2012 Examination Department The last date for receipt of application for Empanelment for Observers for Chartered Accountants Main Examinations scheduled to be held from 2nd to 17th May, 2012 and CPT on 17th June, 2012 has been extended upto 11th April, 2012 (Wednesday)...

    Continue Reading... Category : ICAI | Comments : 0 | Hits : 696

  • Supreme Court rejects Essar Oil's plea in tax case
    Posted Date : 04-Apr-2012 , 09:53:25 pm | Posted By CASANSAAR

    Essar Energy Plc said the country's supreme court dismissed its unit Essar Oil's petition to review an earlier verdict that asked Essar Oil not to defer the payment of $1.24 billion in sales tax. London-listed Essar Energy said the decision would not have any new impact on the company's business...

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

  • Govt monitoring efforts to recover NPAs of banks
    Posted Date : 04-Apr-2012 , 04:49:19 pm | Posted By CASANSAAR

    With bad loans of banks touching Rs 1.27 lakh crore during April-December 2011, the Government today said that it is monitoring the efforts for the recovery of non-performing assets (NPAs) by lenders.   “(We are) aggressively looking at efforts to recover NPAs,” the Financial Serv...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 431

  • Banks to work full day this Saturday
    Posted Date : 04-Apr-2012 , 08:40:48 am | Posted By CASANSAAR

      In view of three holidays this week, public sector banks have been directed to function full day on Saturday, April 7.   The Finance Ministry has asked all public sector banks to to function full day this coming Saturday instead of working half-day, official sources said. Us...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 756

  • Income Tax department to revive 'demand notice' in Vodafone tax case
    Posted Date : 04-Apr-2012 , 08:37:16 am | Posted By CASANSAAR

    The tax authorities will revive the 'demand notice' to force Vodafone Group Plc to pay up thousands of crores in taxes, indicating the government's determination to press its claims on the UK-based mobile phone giant but at the same time setting the stage for further litigation. The demand notic...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 582

  • Investors with interest in Mauritius won't attract capital gains tax
    Posted Date : 04-Apr-2012 , 08:25:34 am | Posted By CASANSAAR

    Foreign institutional investors based in Mauritius will not be required to pay capital gains in India if they have 'substantial commercial interest' in the island nation, a finance ministry official has clarified. The official said the proposed General Anti Avoidance Rules, or GAAR, are very cle...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 324

  • RBI tightens banks' reporting norms to monitor gold import
    Posted Date : 04-Apr-2012 , 08:23:51 am | Posted By CASANSAAR

    The Reserve Bank on Tuesday tightened the reporting requirements under which banks will have to submit a monthly statement informing the central bank about the quantity of gold imported and mode of payment adopted."It has been decided to further rationalise the entire reporting system on import of g...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 252

  • 188 Co's default on financial commitments in FY12: Crisil
    Posted Date : 03-Apr-2012 , 08:13:36 pm | Posted By CASANSAAR

    Against the backdrop of sluggish economic conditions and high interest rate, close to 200 companies defaulted on their financial commitments in the last fiscal, according to a report by Crisil.   "Credit quality pressures have intensified for India's corporates in 2011-12. Instances of defaul...

    Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 349

  • 10-yr-old files RTI on Mahatma Gandhi's father of the nation status
    Posted Date : 03-Apr-2012 , 04:37:48 pm | Posted By CASANSAAR

    A query posted by a 10-year-old girl under the Right to Information Act (RTI) regarding father of nation status to Mahatma Gandhi has raised a piquant situation before the government. In February this year, Aishwarya Parashar, a class sixth student, sent an RTI application to the central public inf...

    Continue Reading... Category : General | Comments : 0 | Hits : 712

  • Excise duty on gold jewellery: Traders’ strike enters Day 17
    Posted Date : 03-Apr-2012 , 07:48:25 am | Posted By CASANSAAR

    The nationwide strike by jewellers and bullion traders against the imposition of excise duty on unbranded jewellery entered its 17th day on Monday as traders and small artisans participated in a demonstration at Jantar Mantar. The traders vowed to keep their shutters closed until the ...

    Continue Reading... Category : Excise | Comments : 0 | Hits : 636

  • GAIL (India) Limited –Campus Recruitment for CS -2011-12
    Posted Date : 03-Apr-2012 , 07:38:41 am | Posted By CASANSAAR

    GAIL (India) Limited, is a Navratna PSU and India's flagship Natural Gas company, integrating all aspects of the Natural Gas value chain (including Exploration & Production, Processing, Transmission, Distribution and Marketing) and its related services.   The company  intends to recr...

    Continue Reading... Category : Income Tax | Comments : 2 | Hits : 2224

  • CA CS CMA to pay Service Tax on Accrual Basis if Turnover exceeded Rs. 50 Lakh
    Posted Date : 03-Apr-2012 , 07:21:04 am | Posted By CASANSAAR

    From 01.04.2012 CA, CS, CWA, Advocate, Interior Decorators, Architect, Scientific or Technical Consultants, Consulting engineers to pay Service Tax on Bill Basis if Turnover exceeded 50 Lakh in Previous Financial Year  With the Amendment in  Point of Taxation Rules, 2011 vi...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 1004

  • Sebi allows listing of stock exchanges
    Posted Date : 02-Apr-2012 , 10:37:43 pm | Posted By CASANSAAR

    Clearing the decks for listing of stock exchanges, capital market regulator the Securities and Exchange Board of India (Sebi) today said 51% stake of bourses could be held with public.   This was decided after considering the much-debated Bimal Jalan Committee recommendations which had not fa...

    Continue Reading... Category : SEBI | Comments : 0 | Hits : 300

  • Companies must obtain permission to operate FCA abroad: RBI
    Posted Date : 02-Apr-2012 , 10:31:44 pm | Posted By CASANSAAR

    The Reserve Bank of India, RBI on Monday said that Indian companies will require to obtain its prior permission to open, hold and maintain foreign currency account -FCA abroad for the purpose of overseas direct investments.The RBI has issued a notification to this effect. According to the notificati...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 429

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