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Posted Date : 10-Feb-2012 , 07:48:50 am | Posted By CASANSAAR
A prosecution witness in 2G spectrum case was today accused by CBI in a Delhi court of resiling from his statement to save the three Reliance ADA Group officials who are facing trial in the case. Nilesh Doshi, a chartered accountant, was accused by CBI of making a "false statement" as a witness ...
Continue Reading... Category : GST | Comments : 0 | Hits : 457
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Posted Date : 10-Feb-2012 , 07:44:36 am | Posted By CASANSAAR
A key Parliamentary Committee will adopt tomorrow the crucial report on Direct Taxes Code (DTC) Bill and recommend raising the income tax exemption limit to Rs 3 lakh from Rs 1.8 lakh at present. The Standing Committee on Finance, headed by former Finance Minister and senior BJP leader Yashwant ...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 490
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Posted Date : 09-Feb-2012 , 09:39:05 am | Posted By CASANSAAR
The Public Company Accounting Oversight Board said it also sanctioned four current and former Ernst & Young partners for violating PCAOB rules in the audits of Medicis, which sells prescription drugs for asthma and skin conditions. Ernst & Young settled without admitting or denying the PCAO...
Continue Reading... Category : Auditing | Comments : 0 | Hits : 604
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Posted Date : 09-Feb-2012 , 09:35:49 am | Posted By CASANSAAR
The Income Tax (I-T) department has received a large number of complaints from the assesses in relation to e-refund and e-filing of income tax returns, which were launched in 2006. So far, the department received as many as 3,009 complaints through citizen's charter and 111 grievances were rece...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 460
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Posted Date : 08-Feb-2012 , 06:37:00 pm | Posted By CASANSAAR
Market regulator Sebi has decided to share with the Ministry of Corporate Affairs the names of over 500 companies, which have garnered money from investors in violation of its Collective Investment Scheme (CIS) rules.Sebi would also give the names of the directors of such entities to the M...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 339
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Posted Date : 08-Feb-2012 , 08:40:06 am | Posted By CASANSAAR
India's largest BPO firm Genpact on Tuesday beat market expectations to report a 27% rise in its annual revenues to $1.6 billion, on account of cash flows from Headstrong clients and growth in its non-GE business, but guided a lower growth for 2012. The Gurgaon-based BPO firm expects 2012 revenue...
Continue Reading... Category : International Business | Comments : 0 | Hits : 333
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Posted Date : 08-Feb-2012 , 08:38:40 am | Posted By CASANSAAR
The Unique Identification Authority of India (UIDAI) on Tuesday launched its online authentication of Aadhaar numbers facility, which is proposed to help banks, telecom companies and government departments authenticate an Indian resident, via mobile phones, computers, tablets or other devices, ...
Continue Reading... Category : General | Comments : 0 | Hits : 470
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Posted Date : 08-Feb-2012 , 08:37:13 am | Posted By CASANSAAR
The railways has decided to increase the advance reservation period from the current 90 days to 120 days from March 10. "It has been decided to increase the advance reservat-ion period from 90 days to 120 days on experimental basis," the commercial department's circular said. The railways claim...
Continue Reading... Category : General | Comments : 0 | Hits : 400
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Posted Date : 08-Feb-2012 , 08:33:13 am | Posted By CASANSAAR
India's direct tax collection grew 16% in 10 months this fiscal, sharply lower than the 35% pace needed to meet the government's full-year projection. According to figures available with the income-tax department, direct tax receipts in the current fiscal to February 5 grew to 3.6 lakh crore, ag...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 192
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Posted Date : 08-Feb-2012 , 08:26:34 am | Posted By CASANSAAR
Market regulator the Securities and Exchange Board of India (Sebi) has directed two individuals -- Shailesh S Jhaveri and Harsha M Shah -- to collectively pay Rs 2.72 crore for their involvement in fraudulent and unfair trade practices during preferential allotment of shares of Ojas Technochem Produ...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 203
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Posted Date : 08-Feb-2012 , 08:22:55 am | Posted By CASANSAAR
The Reserve Bank of India, RBI on Tuesday asked banks to locate and refund unclaimed deposits estimated at over 1700 crore rupees. In an instruction to banks, the RBI said that banks in public interest must play a more pro-active role by finding the whereabouts of the account holders of unclaimed de...
Continue Reading... Category : RBI | Comments : 0 | Hits : 264
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Posted Date : 07-Feb-2012 , 02:41:37 pm | Posted By CASANSAAR
Finance Minister Pranab Mukherjee will unveil the Union Budget for 2012-13 on March 16 in the Lok Sabha. The budget session will begin on March 12 with President Pratibha Patil addressing the joint sitting of members of both the Houses of Parliament. While the rail budget will be presented...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 370
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Posted Date : 07-Feb-2012 , 08:09:07 am | Posted By CASANSAAR
The Supreme Court has ruled that mandatory death penalty for an offender under the Arms Act was unconstitutional as it violated fundamental rights guaranteed to a citizen. A bench of Justices Asok Kumar Ganguly (since retd) and J S Khehar said Section 27(3) of the Arms Act, which imposed mandatory ...
Continue Reading... Category : General | Comments : 0 | Hits : 322
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Posted Date : 07-Feb-2012 , 08:04:42 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has marginally relaxed the banks’ individual limits on net open positions in foreign exchange, which were cut sharply in December. However, snapping four-session gaining spree, the rupee today lost 36 paise to close at 49.05/06 against the dollar due to fresh b...
Continue Reading... Category : Banking | Comments : 0 | Hits : 264
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Posted Date : 06-Feb-2012 , 07:52:29 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Monday cautioned Kerala-based gold-loan company Manappuram Finance Ltd against accepting deposits from the public and threatened to take action if it continued doing so. RBI said acceptance of deposits either by Manappuram Finance or Manappuram Agro Farms (Mag...
Continue Reading... Category : RBI | Comments : 0 | Hits : 459
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Posted Date : 06-Feb-2012 , 07:49:36 pm | Posted By CASANSAAR
The government is likely to provide some relief to individual income tax payers in the forthcoming Budget by raising the exemption limit to Rs 2 lakh, as provided in the Direct Taxes Code (DTC), and hiking the slabs for different tax brackets. The possibility of lowering the tax rates...
Continue Reading... Category : Income Tax | Comments : 1 | Hits : 516
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Posted Date : 06-Feb-2012 , 07:47:40 pm | Posted By CASANSAAR
Following is the text of the Speech of Union Finance Minister Shri Pranab Mukherjee at the India Corporate and Investor Meet in Kolkata today:- “...
Continue Reading... Category : Finance | Comments : 0 | Hits : 215
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Posted Date : 06-Feb-2012 , 03:27:16 pm | Posted By CASANSAAR
Admonishing internet firms like Google and Facebook, a Delhi court on Monday gave 15 more days to 22 social networking sites to remove 'objectionable' contents from their websites. According to media reports, a judge presiding over the matter said that these sites did not deserve any more ...
Continue Reading... Category : International Business | Comments : 0 | Hits : 450
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Posted Date : 06-Feb-2012 , 08:47:23 am | Posted By CASANSAAR
Representatives of the professional bodies for chartered accountants (CAs), company secretaries and cost accountants will meet later this month to decide on ways members of the three institutes can work together in a limited liability partnership (LLP) firm. The presidents of the Institute ...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 2148
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Posted Date : 06-Feb-2012 , 08:44:20 am | Posted By CASANSAAR
Come next financial year, the PAN card is likely to become the most potent tool for the Income Tax Department to unearth black money, tax evasion and instances of criminal financing in the country. A recent directive of the Central Board of Direct Taxes (CBDT) to the I-T Dept has asked its offic...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 645
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Posted Date : 06-Feb-2012 , 08:43:07 am | Posted By CASANSAAR
The government is likely to bring more services in the tax net to raise revenues and may introduce a negative list in the forthcoming budget for fiscal 2012-13. The government is expected to keep 22 services in the negative list and impose 10 per cent tax on the rest, sources said, adding that ...
Continue Reading... Category : Service Tax | Comments : 0 | Hits : 312
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Posted Date : 06-Feb-2012 , 08:36:13 am | Posted By CASANSAAR
The Corporate Affairs Ministry is unlikely to yield to pressure from some political parties to make 2 per cent CSR spending mandatory for corporates under the new Companies Bill, which is currently being scrutinised by a parliamentary committee. The MCA is expected to communicate its stand to the...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 226
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Posted Date : 06-Feb-2012 , 08:31:34 am | Posted By CASANSAAR
Country's largest lender, State Bank of India, has decided to waive guarantees and annual service fees for loans to small and medium businesses guaranteed under the Credit Guarantee Fund Trust scheme.To improve credit flow to the SME sector, the government-appointed Credit Guarantee F...
Continue Reading... Category : Banking | Comments : 0 | Hits : 242
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Posted Date : 05-Feb-2012 , 07:42:32 am | Posted By CASANSAAR
The Swargate police have booked a person who allegedly duped the income tax (IT) department ofSwargate office to the tune Rs2.13 crore after stealing their cheque book and forging the signature of an IT officer, from March 11 to June 26, 2011. Interestingly, the suspect, GirishB...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 474
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Posted Date : 04-Feb-2012 , 08:22:48 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) has asked all commercial banks to refrain from overvaluing houses while providing loans.In a notification issued from Mumbai on Friday, RBI has noticed that some banks include stamp duty, registration and other documentation charges in the cost of the house property, ...
Continue Reading... Category : RBI | Comments : 0 | Hits : 558
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Posted Date : 04-Feb-2012 , 07:29:05 am | Posted By CASANSAAR
For some time, well-heeled individuals and corporates may not lose sleep over fears of tax sleuths knocking on their doors. Close to 8,500 gazetted income tax employees in the rank of I-T officers (ITOs), assistant commissioners and administrative officers have gone on a nationwide agitation. The...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 395
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Posted Date : 03-Feb-2012 , 07:36:32 pm | Posted By CASANSAAR
Internet search giant Google Inc has launched a programme to help women entrepreneurs grow their businesses through an online presence. The program, 'Women Entrepreneurs on the Web' (WEOW), aims to help women entrepreneurs across India grow their online presence. It would provide women entrepreneu...
Continue Reading... Category : International Business | Comments : 0 | Hits : 371
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Posted Date : 03-Feb-2012 , 07:32:06 pm | Posted By CASANSAAR
The Union Finance Minister Shri Pranab Mukherjee has said in order to achieve the objective of inclusive growth, we need to have 9 plus growth rate for a sustainable period. The Finance Minister said that in order to ensure that everybody gets due share of development, it is necessary that the benef...
Continue Reading... Category : Finance | Comments : 0 | Hits : 227
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Posted Date : 03-Feb-2012 , 03:53:18 pm | Posted By CASANSAAR
Mahindra Satyam today said it has received a provisional attachment order from the Income Tax Department attaching land and buildings of the company. "The company had received a provisional attachment order dated January 30, 2012, from the Additional Commissioner of Income Tax (ACIT), Central Ra...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 289
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Posted Date : 03-Feb-2012 , 08:28:21 am | Posted By CASANSAAR
The Institute of Company secretaries of India ( ICSI), a premier National Professional body established by Act of Parliament to develop and regulate the Profession of Company Secretaries has launched a new syllabus for CS Foundation Programme today, at ...
Continue Reading... Category : ICSI | Comments : 0 | Hits : 481
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- File Service Tax Return in time as Maximum Penalty increased 10 times to Rs. 20000
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