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  • Union Budget 2012-13 Summary
    Posted Date : 16-Mar-2012 , 02:57:57 pm | Posted By CASANSAAR

        GENERAL BUDGET 2012-13       BUDGET IDENTIFIES FIVE OBJECTIVES RELATING TO  GROWTH, INVESTMENT, SUPPLY BOTTLENECKS, GOVERNANCE, AND REMOVING MALNUTRITION AMENDMENT TO FRBM ACT INTRODUCED AS PART OF FINANCE BILL CENTRAL...

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  • Budget 2012 – Changes in Service Tax
    Posted Date : 16-Mar-2012 , 02:44:32 pm | Posted By CASANSAAR

    I. RATE OF SERVICE TAX: 1) The rate of service tax is being increased from 10% to 12%. 2) Consequent to change in the rate of service tax, changes are also being made in specific and compounding rates of tax for the following: a) Service in relation to purchase and sale o...

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  • Finance Bill 2012 (Chapter I to Chapter VII)
    Posted Date : 16-Mar-2012 , 02:00:50 pm | Posted By CASANSAAR

      Chapter I Preliminary  Chapter II Rates of Income Tax  Chapter III Income Tax  Wealth Tax  Chapter IV Customs  Excise  Chapter V Service Tax  Chapter VI Amendments to the FRBM Act, 2003  Chapter VII ...

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  • Budget Highlights - Live updates on Union Budget 2012
    Posted Date : 16-Mar-2012 , 09:34:47 am | Posted By CASANSAAR

    Government services and public transport exempted from services tax Compulsory reporting of assets sold abroad Eating out in restaurants to cost more Excise duty on big cars raised to 24% Luxury items to cost more Air travel to get expensive Big cars to get dearer Cuts securities transaction ...

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  • Budget 2012: EPF rate cut from 9.5% to 8.25% for 2011-12
    Posted Date : 16-Mar-2012 , 09:14:18 am | Posted By CASANSAAR

    Government has slashed interest rate on deposits in Employees Provident Fund from 9.5% to 8.25% for 2011-12 affecting over 4.7 crore subscribers. This cut was proposed by the Finance Ministry and a notification was issued by the Labour Ministry, official sources said. The Employees' Provident Fund...

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  • ICAI National Cost Convention-2012
    Posted Date : 16-Mar-2012 , 07:44:46 am | Posted By CASANSAAR

    Shri R.P.N. Singh, Minister of State for Corporate Affairs has emphasized upon public friendly Accounting. Inaugurating the three day long 53rd National Cost Convention of Cost and Management Accountants (CMA) for the year 2012 organised by the Institute of Cost Accountants of India (ICAI) here in N...

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  • Tax payers may get some relief from budget
    Posted Date : 15-Mar-2012 , 06:54:48 pm | Posted By CASANSAAR

    Tax payers will be looking forward to some relief from Finance Minister Pranab Mukherjee who is expected to raise the income tax exemption limit to at least Rs 2 lakh in his budget proposals to be unveiled in the Lok Sabha on Friday. The Minister may also marginally raise the slabs in other tax bra...

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  • World Bank announces $4.3 bn aid to India
    Posted Date : 15-Mar-2012 , 06:53:33 pm | Posted By CASANSAAR

    The World Bank has announced 4.3 billion US dollar financial aid to India through a new innovative and flexible financing arrangement to help the country fight poverty. This arrangement has been designed in a way to maintain net exposure of the lending arm of World Bank, International Bank for ...

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  • Highlights of Economic Survey 2011-12
    Posted Date : 15-Mar-2012 , 01:10:25 pm | Posted By CASANSAAR

    Following are the highlights of Economic Survey 2011-12, as detailed in the website of the Press Information Bureau: 1. Rate of growth estimated to be 6.9%. Outlook for growth and stability is promising with real GDP growth expected to pick up to 7.6% in 2012-13 and 8.6% in 2013-14. 2. Agriculture...

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  • Summary of Economic Survey
    Posted Date : 15-Mar-2012 , 01:08:14 pm | Posted By CASANSAAR

    Indian economy is estimated to grow by 6.9% in 2011-12 mainly due to weakening industrial growth. This indicates a slowdown compared not just to the previous two years, when the economy grew by 8.4%, but also from 2003 to 2011, except 2008-9 economic downturn, when the growth rate was 6.7 percent. T...

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  • RBI keeps rate unchanged; inflation to guide future action
    Posted Date : 15-Mar-2012 , 12:38:35 pm | Posted By CASANSAAR

    The Reserve Bank of India (RBI) today kept key policy rate unchanged and said future policy action would be determined by the movement in inflation. "On the basis of the current macroeconomic assessment, it has been decided to keep the policy repo rate under the liquidity adjustment f...

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  • Dinesh Trivedi says he has not resigned yet
    Posted Date : 15-Mar-2012 , 11:12:02 am | Posted By CASANSAAR

      Railway Minister Dinesh Trivedi, whose removal has been demanded by his party leader andTMC boss Mamata Banerjee, on Thursday said he has not resigned as yet. It was earlier reported that Trivedisent his resignation to the Prime Minister. News channels on Thurs...

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  • Railway Budget 2012: Dinesh Trivedi resigns; TMC recommends Mukul Roy as new railway minister
    Posted Date : 15-Mar-2012 , 08:23:58 am | Posted By CASANSAAR

    Railway Minister Dinesh Trivedi sent his resignation letter to Prime Minister Manmohan Singh in the wee hours of Thursday, according to sources. Trivedi offered resignation after his own party, the Trinamool Congress, termed across-the-board passenger fare hikes as a "hostile act". Late Wednesda...

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  • Verification Status November - 2011 ICAI Examinations
    Posted Date : 15-Mar-2012 , 08:20:42 am | Posted By CASANSAAR

    Click on the below links.   IPCE - NOVEMBER, 2011  PCE - NOVEMBER, 2011  FINAL - NOVEMBER, 2011 Source : www.icai.org...

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  • Bombay High Court dissolves Shirdi temple trust
    Posted Date : 15-Mar-2012 , 08:16:45 am | Posted By CASANSAAR

     The Bombay High Court on Tuesday disbanded the 15-member committee of the Shri Saibaba Sansthan Trust, which manages the affairs of one of the richest temples in India-the Saibaba temple at Shirdi. Hearing a public interest litigation filed by two Shirdi residents, which said th...

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  • E-courts to hear tax cases via webcast
    Posted Date : 15-Mar-2012 , 08:14:12 am | Posted By CASANSAAR

    The unending wait for justice due to the huge backlog of cases may continue. But if the Income Tax Appellate Tribunal (ITAT) has its way, there could be some relief, finally.   The ITAT is mulling e-courts, or simply hearing of cases through webcast, to clear the backlog of cases in smaller t...

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  • Bombay High Court tells Sebi to rethink MCX-SX plea
    Posted Date : 15-Mar-2012 , 08:08:43 am | Posted By CASANSAAR

    The Bombay High Court has ruled in favour of MCX Stock Exchange (MCX-SX), one of the country's youngest bourses, in a long and closely tracked feud with the Securities & Exchange Board of India that is yet to spell out its future course of action. The court on Wednesday set aside a regulator...

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  • Admit Cards to Students appearing in May 2012 CA Examinations
    Posted Date : 14-Mar-2012 , 08:47:07 pm | Posted By CASANSAAR

      Candidates who have applied for May 2012 Chartered Accountants exams are requested to note that admit cards with photographs and signatures of the candidates will be hosted on http://www.icai.nic.in generally 21 days prior to the commencement of the examination. Cand...

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  • Railway budget 2012-13
    Posted Date : 14-Mar-2012 , 04:05:23 pm | Posted By CASANSAAR

    The Railway Budget has been presented in the Parliament today. No increase in freight rates, moderate hike in passenger fare, introduction of 75 new express trains, construction of new lines in the underdeveloped parts of the country, modernisation of railways, a new body to ensure passenger sa...

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  • Railway Budget 2012-13 (Highlights)
    Posted Date : 14-Mar-2012 , 01:30:55 pm | Posted By CASANSAAR

    Introduction of satellite based real time train information system (SIMRAN) to provide train running information to passengers through SMS, internet, etc. Passenger fares increased marginally. The increase will be by 2 paise per km for suburban and ordinary second class; 3 paise per km for mail...

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  • Rail Budget 2012 to be presented today, travel may get costly
    Posted Date : 14-Mar-2012 , 08:14:05 am | Posted By CASANSAAR

     It's the D-day and all eyes will be on Union Minister Dinesh Trivedi who will present the Railway Budget 2012 in Parliament. Sources say that the government is likely to impose a safety cess, although it will not be labelled a fare hike. Sources add that there is a possibility of an additional...

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  • Women presence rising on companies' boards: Study
    Posted Date : 14-Mar-2012 , 08:13:07 am | Posted By CASANSAAR

    In an indication of growing women presence in the corporate corridors, an average of nine out of every ten large companies have now got at least one female director, a study said today. As per an annual study of women presence on the company boards, 89 out of the top 100 companies in the UK have ...

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  • PwC India dressed up books to show profits
    Posted Date : 14-Mar-2012 , 08:11:17 am | Posted By CASANSAAR

      Serious violations of accounting principles as well as major financial irregularities have been detected in several entities of PricewaterhouseCoopers India (PwC India), which would seem to indicate that the company has been wrongfully dressing up its own books and those of its network au...

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  • 12 persons account for 90% of total income tax dues
    Posted Date : 14-Mar-2012 , 08:09:17 am | Posted By CASANSAAR

    The finance ministry today said income tax dues from 12 individuals, including stud-farm owner Hasan Ali Khan, account for 90 per cent of the total income tax outstanding. "The amount of outstanding income tax dues is a dynamic figure. As on September 30, 2010, about 90 per cent of the outstandi...

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  • ICAI to release White Paper on agriculture costing
    Posted Date : 14-Mar-2012 , 08:08:32 am | Posted By CASANSAAR

    The Institute of Cost Accountants of India (ICAI) will release the White Paper on Agricultural Costing and Pricing methods on Thursday. The release, first on the subject by ICAI, will be made at the 3-day 'National Cost Convention' beginning here on March 15, said an official. "The government has...

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  • Budget 2012: Direct Tax Code: Par panel report on DTC tabled in LS
    Posted Date : 14-Mar-2012 , 07:57:39 am | Posted By CASANSAAR

    The Parliamentary panel on Direct Taxes Code in its report tabled in Lok Sabha today has suggested raising the income tax exemption limit to Rs 3 lakh. The report of Standing Committee on Finance, which scrutinised the Direct Taxes Code (DTC) Bill, will pave the way for discussions and adoption of D...

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  • Company Law Board asks Unitech to buy out Telenor's stake or exit JV
    Posted Date : 14-Mar-2012 , 07:56:21 am | Posted By CASANSAAR

    The Company Law Board, a quasi-judicial body that rules on corporate matters, on Tuesday directed Unitech Wireless to decide by March 19 if it wants to buy out the 67.25% stake held by Norway's Telenor, or exit their joint venture. "You (Unitech) are given priority, whether you want to buy or se...

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  • Press Release - ICAI (The Institute of Cost Accountants of India)
    Posted Date : 13-Mar-2012 , 07:17:19 pm | Posted By CASANSAAR

      PRESS RELEASE March 10, 2012   Standing Committee on Finance recommends widening the scope of the definition of ‘accountant”. Mr. M.Gopalakrishnan, President of The Institute of Cost Accountants of India, announced, that the cost and management accounting p...

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  • Fund inflow in audit companies like PwC and Lovelock & Lewes against FDI norms
    Posted Date : 13-Mar-2012 , 08:17:48 am | Posted By CASANSAAR

    The inflow of funds from Pricewaterhouse-Coopers Services BV, Netherlands, was first shown as 'reimbursement of expenses' - including in representation made to banks - but later invoiced as 'support' and finally as 'grant'. Surprisingly, the books of accounts classified this as 'sundry income' , ...

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  • Third extension to CBDT panel on black money
    Posted Date : 13-Mar-2012 , 08:13:22 am | Posted By CASANSAAR

    The CBDT Chairman-led committee on combating the menace of black money has been given yet another extension and it is now expected to submit its final report by this month end. It is the third time that the deadline has been extended for the panel, which was constituted in May last year. With the...

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