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  • Expand mutual fund industry’s reach in country: IAB
    Posted Date : 28-Jan-2012 , 06:42:26 pm | Posted By CASANSAAR

    International Advisory Board (IAB) constituted by market regulator - Security and Exchange Board of India (SEBI) has suggested widening the reach of the mutual fund industry in the country.It has also emphasised that in order to enhance the participation of households, the mutual fund industry has t...

    Continue Reading... Category : SEBI | Comments : 0 | Hits : 170

  • India must have independent regulator for auditors: PwC
    Posted Date : 28-Jan-2012 , 07:50:27 am | Posted By CASANSAAR

    Supporting the capital market regulator Sebi's proposal for an independent auditing regulator in India, global auditing and consultancy major PwC has said there is an urgent need to have a strong and powerful watchdog for this business."It's a great suggestion on the Sebi's part, but the decision ha...

    Continue Reading... Category : International Business | Comments : 0 | Hits : 444

  • In Facebook IPO, bankers seek prestige over fees
    Posted Date : 28-Jan-2012 , 07:49:08 am | Posted By CASANSAAR

    Facebook's initial public offering is likely to set a new standard for how low investment banks are willing to go on advisory fees to win big business. The world's largest online social network is expected to tap public markets for $10 billion in the coming months in an offering that will value t...

    Continue Reading... Category : International Business | Comments : 0 | Hits : 265

  • India Signs Multilateral Convention on Mutual Administrative Assistance in Tax Matters
    Posted Date : 27-Jan-2012 , 06:37:45 pm | Posted By CASANSAAR

    India has signed a Multilateral Convention on Mutual Administrative Assistance in Tax Matters. The Convention was signed by Shri Sanjay Kumar Mishra, Joint Secretary, Foreign Tax & Tax Research Division, Department of Revenue, Ministry of Finance, Government of India in the presence of Deputy Se...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 194

  • On-line Submission of Application for Verification of Answer Books
    Posted Date : 27-Jan-2012 , 02:48:50 pm | Posted By CASANSAAR

    25th January 2012 Candidates of November 2011 CA examinations Final, IPCE and PCE can submit their application for verification of answer books and also make payment of verification fees, on-line at http://icaiexam.icai.org.This facility will be in addition to the existing option for sub...

    Continue Reading... Category : Students Zone | Comments : 0 | Hits : 827

  • Online Registration Candidates Campus Placement Programme Feb-March 2012
    Posted Date : 27-Jan-2012 , 09:21:51 am | Posted By CASANSAAR

    Dear Newly Qualified Chartered Accountants,At the outset, let me on behalf of entire ICAI fraternity congratulate you on becoming a CA.  It is indeed a proud achievement and I whole-heartedly welcome you to our elite Chartered Accountants' fraternity.You may be aware that our alma mat...

    Continue Reading... Category : ICAI | Comments : 0 | Hits : 1080

  • Budget 2012 may make Corporate Social Responsibility mandatory for companies
    Posted Date : 27-Jan-2012 , 08:14:18 am | Posted By CASANSAAR

    A parliamentary panel has stuck to its position to make it mandatory for companies to spend a portion of net profit on corporate social responsibility (CSR).   The standing committee on finance also decided to take for scrutiny only the new clauses added to the Companies Bill, 2011, after the...

    Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 409

  • IRFC tax-free bonds issue to open on Friday
    Posted Date : 27-Jan-2012 , 07:59:46 am | Posted By CASANSAAR

    Indian Railway Finance Corporation Limited (IRFC), the financing arm of the Indian Railways, is proposing to issue Tax Free, Secured, Redeemable, Non-Convertible Bonds of face value of RS 1,000 each in the nature of Debentures.They will have benefits under the Income Tax Act, 1961 and aggregate to R...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 352

  • Finance Ministry for higher excise duty on diesel cars
    Posted Date : 26-Jan-2012 , 05:42:12 pm | Posted By CASANSAAR

    Diesel car buyers may have to shell out more with the Finance Ministry considering the imposition of higher excise duty on such vehicles in the upcoming Budget likely to be unveiled sometime in March.In order to discourage consumption of subsidised diesel by personal vehicle owners, the Petroleum Mi...

    Continue Reading... Category : Excise | Comments : 0 | Hits : 249

  • World economy in danger zone: IMF
    Posted Date : 26-Jan-2012 , 05:39:54 pm | Posted By CASANSAAR

    The International Monetary Fund (IMF) has said the world's economy is deeply into the danger zone because of risks from the eurozone.The IMF predicts the global economy will grow by 3.25% in 2012, down from an earlier forecast of 4%.The growth forecast for the UK economy has been cut to 0.6% from 1....

    Continue Reading... Category : International Business | Comments : 0 | Hits : 305

  • Punjab candidates rope in CAs for managing poll expenses
    Posted Date : 26-Jan-2012 , 09:19:31 am | Posted By CASANSAAR

    With the Election Commission keeping a strict vigil on expenditure in the Assembly polls, many candidates have roped in tax experts like Chartered Accountants to ensure that their spending remains within the maximum limit.   The CAs are not only helping election candidates in avoiding the "ni...

    Continue Reading... Category : ICAI | Comments : 0 | Hits : 360

  • HUDCOs Rs 4685 crore bond issue opens on January 27
    Posted Date : 26-Jan-2012 , 09:14:41 am | Posted By CASANSAAR

    State-run Housing and Urban Development Corporation (HUDCO) today said its public issue of tax-free bonds will hit the market on January 27 with a target of raising up to Rs 4,685 crore. "HUDCO is issuing tax-free bonds with a face value of Rs 1,000 each... aggregating Rs 2,000 crore with an opt...

    Continue Reading... Category : General | Comments : 0 | Hits : 248

  • Budget 2012 may include DTC norms to avoid Vodafone like disputes
    Posted Date : 26-Jan-2012 , 09:09:23 am | Posted By CASANSAAR

    To avoid disputes like the Vodafone tax case in future, government is contemplating incorporation of provisions on taxation of overseas deals from the stalled Direct Taxes Code (DTC) Bill in the Budget for 2012-13. "The Direct Taxes Code Bill contains a proposal to tax similar transactions... We...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 262

  • TRAI grants relief to business houses on 200 SMS limit
    Posted Date : 25-Jan-2012 , 10:05:43 pm | Posted By CASANSAAR

    The business houses will longer have to worry about the limit of 200 SMS per day per SIM to inform the customers about their services as Telecom Authority of India (TRAI) on Wednesday decided to exempt machine to machine and person to machine messages from the limit of 200 SMS per day per SIM. &nbs...

    Continue Reading... Category : General | Comments : 0 | Hits : 208

  • Sebi moves Supreme Court against PW in Satyam case
    Posted Date : 25-Jan-2012 , 08:01:23 am | Posted By CASANSAAR

    Sebi on Monday moved the Supreme Court seeking stay on the sectoral tribunal’s order that allowed audit firm Price Waterhouse to cross-examine the accused in the Rs 7,000-crore Satyam Computer Services scam, including Satyam founder B Ramalinga Raju. The Securities Appellate Tribunal in June ...

    Continue Reading... Category : SEBI | Comments : 0 | Hits : 246

  • Companies Bill: MPs root for compulsory CSR
    Posted Date : 25-Jan-2012 , 07:56:54 am | Posted By CASANSAAR

    Members of the standing committee of finance are not happy about the fact that corporate social responsibility (CSR) has not been made mandatory is the Companies Bill. Several queries have been raised by the MPs and ministry of corporate affairs (MCA) has been given 15 days to respond A cruc...

    Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 253

  • Presidential Awards for Officers of Customs & Central Excise and Directorate of Enforcement
    Posted Date : 24-Jan-2012 , 08:46:26 pm | Posted By CASANSAAR

    The officers of the Customs & Central Excise Department are considered for grant of Presidential Award of Appreciation Certificate for exceptionally meritorious service rendered at the risk of life and specially distinguished record of service on their achieving and maintaining excelle...

    Continue Reading... Category : Custom | Comments : 0 | Hits : 354

  • New Initiatives under MCA 21 System
    Posted Date : 24-Jan-2012 , 08:45:07 pm | Posted By CASANSAAR

    The Ministry of Corporate Affairs has established an added facility under MCA 21, integration with Trade Mark Authority recently. The added feature facilitates professional / public to cross verify Company name before applying for ROC approval. In addition, the XBRL reporting format has been in...

    Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 337

  • RBI cuts CRR by 50 bps; interest rates unchanged
    Posted Date : 24-Jan-2012 , 11:17:02 am | Posted By CASANSAAR

    The Reserve Bank of India in its quarterly review meet on Tuesday cut the cash reserve ratio (CRR) by 50 bps to ease tight liquidity pressure in the banking system. RBI kept repo and reverse repo rates unchanged at 8.5% and 7.5% respectively, despite mounting anxiety over slowdown in growth. The...

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  • CA loses Rs 1.41 lakh in net banking fraud
    Posted Date : 24-Jan-2012 , 08:49:42 am | Posted By CASANSAAR

    A chartered accountant employed with a Gurgaon-based MNC and resident of Vasant Kunj in New Delhi alleged that he was fleeced of R1.31 lakh through internet banking fraud.   According to victim Harsh Mehta, 27, the money was siphoned off from his salary account in the Gurgaon branch of&n...

    Continue Reading... Category : ICAI | Comments : 0 | Hits : 1221

  • Standing committee calls MCA officials to discuss Companies Bill
    Posted Date : 24-Jan-2012 , 08:33:10 am | Posted By CASANSAAR

    The parliamentary standing committee on finance, which had given its suggestions on the Companies Bill, 2011, has called some officials from the ministry of corporate affairs (MCA) on Tuesday to discuss the draft law, said two persons familiar with the matter, who declined to be named.   The ...

    Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 333

  • RBI to review its credit policy today
    Posted Date : 24-Jan-2012 , 08:20:46 am | Posted By CASANSAAR

    Amid slowing economic growth, the Reserve Bank of India (RBI) is reviewing its credit policy on Tuesday. RBI is not expected to cut interest rates at its review as it remains worried about inflation, but it may cut the cash reserve ratio (CRR) for banks as a way to relieve tight liquidity, a move th...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 451

  • Law Ministry seeks more information in ITAT case
    Posted Date : 24-Jan-2012 , 08:18:25 am | Posted By CASANSAAR

    The Law Ministry is in the process of seeking more information from CBI and other agencies to take a final call on the investigative agency's request seeking sanction to prosecute 20 members of IT tribunal for their alleged role in outsourcing writing of judgements to private individuals to favo...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 233

  • RBI pitches for reforms to contain fiscal deficit
    Posted Date : 24-Jan-2012 , 08:14:44 am | Posted By CASANSAAR

    The Reserve Bank today pitched for expediting economic reforms including reduction of subsidy and implementation of DTC and GST to contain the fiscal deficit which is expected to exceed the Budget estimate. "Prospectively, improvement in fiscal situation in 2012-13 is not only contingent upon the...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 177

  • Corporate Affairs Minister Moily backs strong Company Bill
    Posted Date : 23-Jan-2012 , 10:03:47 pm | Posted By CASANSAAR

    Union Corporate Affairs Minister Dr. M. Veerappa Moily on Monday said the Company Bill is only a skeleton and stressed the need to develop a mechanism, which will help to maintain transparency and fix accountability among corporate firms.   Dr. Moily said effective corporate governance requir...

    Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 213

  • SC asks centre to consider bringing minimum wages under NREGS on par with states
    Posted Date : 23-Jan-2012 , 09:57:21 pm | Posted By CASANSAAR

    The Supreme Court on Monday asked the Centre to consider bringing the wage under the National Rural Employment Guarantee Scheme (NREGS) on par with minimum wages prevailing in different states. A Bench of Justices Cyriac Joseph and Gyan Sudha Misra asked Solicitor General Rohinton Nariman to ask the...

    Continue Reading... Category : General | Comments : 0 | Hits : 306

  • Finance min studies high use of black money in real estate sector
    Posted Date : 23-Jan-2012 , 08:44:32 am | Posted By CASANSAAR

    The National Institute of Public Finance and Policy (NIPFP) has asked the inspector general of Registration and Controller of Stamps to submit the details of the three highest-value transactions that happened in the last two years in every area in Mumbai and Pune. It has also sought the nu...

    Continue Reading... Category : General | Comments : 0 | Hits : 310

  • Companies may have to disclose source of funds coming via preferential allotment of shares
    Posted Date : 23-Jan-2012 , 08:41:35 am | Posted By CASANSAAR

    The securities market regulator plans to seek details of the source of funds flowing through preferential allotment of shares, a move aimed at deterring promoters from pumping money indirectly through front entities. Two persons familiar with the matter told ET that the Securities and Exchange B...

    Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 271

  • Vodafone tax case: CBDT constitutes committee to study SC order
    Posted Date : 23-Jan-2012 , 08:37:38 am | Posted By CASANSAAR

    The Central Board of Direct Taxes (CBDT) has constituted a "core committee" of officials to study today's Supreme Court judgement on the Vodafone taxation case.   "The 10-member committee will go through the 275-page order of the Supreme Court and suggest a st...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 326

  • RBI may maintain status quo in its policy review
    Posted Date : 22-Jan-2012 , 10:00:31 pm | Posted By CASANSAAR

    Overlooking the demand of India Inc to lower interest rates, the Reserve Bank in its policy review may refrain from cutting policy rate as the inflation of manufactured goods is still high. "I don't see moderation in the interest rate (in the coming policy). CRR (Cash Reserve Ratio) cut I am not ho...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 223

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