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Posted Date : 03-Feb-2012 , 08:26:18 am | Posted By CASANSAAR
Accounting authorities are considering a proposal that will ask listed companies to disclose the extent of their holdings in risky regions or in volatile financial instruments, on the grounds that stakeholders need to be informed about the impact of such exposures. The proposal, which will have t...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 299
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Posted Date : 03-Feb-2012 , 08:20:58 am | Posted By CASANSAAR
Laxman Das took over as the new chairman of the Central Board of Direct Taxes (CBDT) on Wednesday. The former chairman of the CBDT, M C Joshi, retired yesterday. Das, who belongs to the 1974 batch of the Indian Revenue Services (IRS), was e...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 574
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Posted Date : 03-Feb-2012 , 08:19:17 am | Posted By CASANSAAR
Faced with a formidable task of collecting Rs 9.32 lakh crore taxes during the fiscal ending March 31, Finance Minister Pranab Mukherjee on Thursday said that he is exerting pressure on revenue officials to improve realisation. "I am putting pressure on my colleagues in the CBEC, CBDT ...and on my...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 165
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Posted Date : 02-Feb-2012 , 08:48:31 pm | Posted By CASANSAAR
Noting that Facebook was not originally meant to be a company, its founder and chief Mark Zuckerberg has said he now wants it to change the way people relate to their governments and to help them get a better response for their issues and concerns. "We hope to change how people relate to their g...
Continue Reading... Category : International Business | Comments : 0 | Hits : 335
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Posted Date : 02-Feb-2012 , 08:34:05 pm | Posted By CASANSAAR
Supreme Court today cancelled 122 2-G licenses allocated to telecom companies in 2008. The Apex court held that the licenses were granted in arbitrary and unconstitutional manner and asked the telecom Regulatory Authority of India to make fresh recommendation on the grant of these licenses. The...
Continue Reading... Category : General | Comments : 0 | Hits : 245
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Posted Date : 02-Feb-2012 , 05:36:13 pm | Posted By CASANSAAR
The results of the Chartered Accountants Professional Competence and IntegratedProfessional Competence Examinations held in November, 2011 are likely to be declaredtentatively on Thursday, the 9th February, 2012 around 4.00 P.M. and the same as well as the merit list (candidates securing a minimum o...
Continue Reading... Category : Students Zone | Comments : 0 | Hits : 1866
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Posted Date : 02-Feb-2012 , 08:21:04 am | Posted By CASANSAAR
A former Additional Commissioner of Income Tax, arrested by CBI for demanding Rs one lakh as bribe for clearing a tax return matter, has been sentenced to four years in jail by a Delhi court. Special CBI Judge Talwant Singh also imposed a fine of Rs four lakh on convict H A Siddiqui in the graf...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 419
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Posted Date : 02-Feb-2012 , 08:16:09 am | Posted By CASANSAAR
In a move that could expedite government's disinvestment process, the market regulator SEBI on Wednesday notified the IPP guidelines that will allow companies to reduce promoter shareholding through private placement. As per the new norms for Institutional Placement Programme (IPP) of shares, eve...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 286
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Posted Date : 02-Feb-2012 , 08:12:22 am | Posted By CASANSAAR
Policymakers have begun talks on raising indirect taxes and withdrawing the last remnants of the 2008 stimulus, as the government comes under fire for not tackling the rising fiscal deficit. "There is a thinking within some sections in the finance ministry as well as other senior policymakers tha...
Continue Reading... Category : Service Tax | Comments : 0 | Hits : 281
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Posted Date : 02-Feb-2012 , 08:04:12 am | Posted By CASANSAAR
An Indian court has ruled that the country's biggest refiner, Indian Oil Corp, must pay entry tax on the crude it supplies to a plant in a northern state, the company told the country's stock exchange on Wednesday. IOC said the order could have "financial implications". It did not say when the Al...
Continue Reading... Category : General | Comments : 0 | Hits : 244
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Posted Date : 01-Feb-2012 , 08:40:46 pm | Posted By CASANSAAR
The government today said it is hopeful of taking up the new Companies Bill for consideration and passage in the upcoming Budget Session of Parliament. "Standing Committee had their first meting on January 24. I expect them to give (clearance) as early as possible so that I can present the ...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 383
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Posted Date : 01-Feb-2012 , 03:12:16 pm | Posted By CASANSAAR
The Income Tax Department on Wednesday conducted searches at the premises of prominent Uttar Pradesh-based liquor baron and businessman Ponty Chadha, in the state and at a few locations in Delhi. The searches, which began early this morning, were conducted at more than 10 premises of the busin...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 358
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Posted Date : 01-Feb-2012 , 08:35:32 am | Posted By CASANSAAR
Encouraged by the recent Supreme Court order in its favour, Vodafone Plc is taking on the income tax department, yet again. The British telecom major yesterday moved the dispute resolution panel, seeking relief from an order sent by the I-T department in December. The draft transfer pr...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 506
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Posted Date : 01-Feb-2012 , 08:29:04 am | Posted By CASANSAAR
Capital market regulator SEBI Tuesday imposed fine of Rs 16 lakh on two market intermediaries for irregularities in the initial public offers (IPOs) of 16 companies between 2003-05. "I hereby impose a penalty of Rs 15 lakh on Roopal Nareshbhai Panchal and a penalty of Rs 1 la...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 231
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Posted Date : 01-Feb-2012 , 08:27:30 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has decided to allow all private sector banks to undertake Central and state government business, which is still a forte of public sector banks and three large private players, ICICI Bank, HDFC Bank and Axis Bank. Banks earn a fee while working as an agent of...
Continue Reading... Category : Banking | Comments : 0 | Hits : 334
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Posted Date : 31-Jan-2012 , 09:11:32 pm | Posted By CASANSAAR
Expressing concern over corruption plaguing public life, the Supreme Court on Tuesday said the malady poses a "grave" danger to the country's democracy. "Today, corruption in our country not only poses a grave danger to the concept of constitutional governance, it also threatens the very foundat...
Continue Reading... Category : General | Comments : 0 | Hits : 264
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Posted Date : 31-Jan-2012 , 05:46:52 pm | Posted By CASANSAAR
The Reserve Bank of India, RBI will soon issue 500 rupees denomination bank-notes incorporating new rupee symbol without inset letter.According to the RBI release, the new notes will bear the signature of RBI Governor D Subbaro and the year of printing 2011 printed on the back of the bank note.The d...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 536
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Posted Date : 31-Jan-2012 , 02:10:09 pm | Posted By CASANSAAR
IMPORTANT ANNOUNCEMENT BoS/Announcement/227/12 January 30, 2012 Sub: Extension of date for registration for Integrated Professional Competence Course (IPCC) In order to mitigate the hardship being faced by the students in registering for Integrated ...
Continue Reading... Category : Students Zone | Comments : 0 | Hits : 416
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Posted Date : 31-Jan-2012 , 07:55:26 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India has said a committee constituted to suggest ways to check and bring back black money stashed in banks abroad will submit its report to the Finance Ministry within a fortnight. The institute has asked the government to bring in a...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 260
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Posted Date : 31-Jan-2012 , 07:50:29 am | Posted By CASANSAAR
Market regulator SEBI has confirmed its earlier order directing European American Investment Bank not to deal in the securities market in a matter related to alleged market manipulation using Global Depository Receipts. The Securities and Exchange Board of India (Sebi) had issued an interim ex-pa...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 203
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Posted Date : 31-Jan-2012 , 07:47:24 am | Posted By CASANSAAR
Despite settling his income tax (I-T) demand and getting a refund against it for the assessment year 2003-04, Delhi’s GD Saraswat (name changed) received another fresh tax notice of Rs 96,286 the following year. After resolving it as well, he received yet another notice in December 2011 for Rs...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 298
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Posted Date : 30-Jan-2012 , 09:47:02 pm | Posted By CASANSAAR
The capital infusion will "increase the issued capital by SBI by way of preferential allotment of equity shares to the government to the extent of approximately Rs 7,900 crore including premium," SBI said in a filing with the BSE.The Government of India conveyed its approval today, it said. With the...
Continue Reading... Category : Banking | Comments : 0 | Hits : 211
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Posted Date : 30-Jan-2012 , 07:37:43 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs has decided to refund the statutory fees paid for certain services. Earlier there was no process in MCA21 for refund of fees wrongly paid by the stakeholder while availing various services at MCA 21. New refund e-Form needs to be filed by the stakeholder applying fo...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 530
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Posted Date : 30-Jan-2012 , 06:55:53 pm | Posted By CASANSAAR
Indian mobile users are being bombarded with massive numbers of spurious international missed calls originating from Pakistan, Czechoslovakia, Middle East and African countries and also from India routed through international numbers to defraud users who call back to these numbers. Such short and m...
Continue Reading... Category : International Business | Comments : 0 | Hits : 289
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Posted Date : 30-Jan-2012 , 04:46:32 pm | Posted By CASANSAAR
Actor Shah Rukh Khan reportedly beat up scriptwriter/director Shirish Kunder, the husband of one his close friend and director Farah Khan, at a party thrown on Sunday night in Mumbai by actor Sanjay Dutt to celebrate the success of his filmAgneepath. After the Shah Rukh-Salman brawl at Katrina Kaif...
Continue Reading... Category : General | Comments : 0 | Hits : 524
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Posted Date : 30-Jan-2012 , 08:27:05 am | Posted By CASANSAAR
Tax authorities and the finance ministry are contemplating moving the Supreme Court to figure out how they should go about handling information on undisclosed offshore bank accounts of Indians. With the tax office receiving information on thousands of such accounts, the government is in favour of...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 305
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Posted Date : 30-Jan-2012 , 08:23:50 am | Posted By CASANSAAR
Despite bullish stock markets so far this year, four companies have refrained from coming out with IPOs worth over Rs 700 cr, letting their regulatory approvals lapse. The companies which have let their approvals lapse include Micromax Mobiles, Pride Hotels, Betul Oil and Tara Jewels. Inte...
Continue Reading... Category : Shares & Stock | Comments : 0 | Hits : 236
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Posted Date : 29-Jan-2012 , 07:53:27 am | Posted By CASANSAAR
A 40-year-old chartered accountant committed suicide at his house in Rohini in outer Delhi in the wee hours of Saturday, the police said. The deceased, identified as Bharat Bhushan Chawla, a resident of Rohini Sector 16, was apparently under stress over a family dispute.Bharat had been staying ...
Continue Reading... Category : General | Comments : 0 | Hits : 682
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Posted Date : 29-Jan-2012 , 07:50:07 am | Posted By CASANSAAR
The bill, which seeks to replace the archaic Income Tax Act, 1961, was tabled in Parliament way back in 2010 and has already missed two deadlines. The bill aims at reducing tax rates by expanding the tax base and minimising exemptions.“We will be able to submit our report only by the budget se...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 377
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Posted Date : 28-Jan-2012 , 06:44:11 pm | Posted By CASANSAAR
Tax payers will no longer be facing hard times when it comes to paying tax or filing returns as the newAayakar Seva Kendra (ASK) has come into place to help them out. The I-T department launched this multifaceted mechanism to achieve 100% tax collection by helping people fi...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 369
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- NFRA Imposes Monetary penalty of Rs 1 Crore on M/s Dhiraj & Dheeraj
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- RBI directs payment firms to track high-value, fishy transactions during elections
- NCLT orders insolvency proceedings against Subhash Chandra
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- Payment of MCA fees –electronic mode-regarding
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- Maha expects Rs 15 crore entertainment tax revenue from IPL
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- Provision of 15-minutes reading and planning time allowance to the candidates of Chartered Accountants Examinations
- Companies Bill to be taken up in Monsoon Session
- File Service Tax Return in time as Maximum Penalty increased 10 times to Rs. 20000
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