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Posted Date : 17-Jan-2012 , 08:44:22 am | Posted By CASANSAAR
A recent verdict by the Delhi high court might set a precedent on the taxation of equipment that comprise hardware and software. In a case between Swedish telecom equipment maker Ericsson and the department of income tax, the court held that profits from offshore supply of equipment comprising hardw...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 380
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Posted Date : 17-Jan-2012 , 08:42:28 am | Posted By CASANSAAR
Infrastructure bonds are gaining popularity because of the recently introduced tax benefit under 80CCF. Under this Section of the Income Tax Act, an investor can seek tax relief on the investment amount up to 20,000 in long-term infrastructure bonds. After a spate of infrastructure bond issuance...
Continue Reading... Category : General | Comments : 0 | Hits : 321
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Posted Date : 17-Jan-2012 , 08:39:39 am | Posted By CASANSAAR
UK-based telecom major Vodafone has moved a step further to list its India operations by roping in investment bank NM Rothschild to assist the listing plans. According to sources, Vodafone India has roped in investment bank NM Rothschild to assist the company in its listing plans. When contacted...
Continue Reading... Category : Shares & Stock | Comments : 0 | Hits : 257
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Posted Date : 16-Jan-2012 , 08:08:42 pm | Posted By CASANSAAR
The Government has expressed confidence that moderation in inflation will continue in the coming months. Finance Minister Mr. Pranab Mukherjee today said that the headline inflation would be between six and seven per cent by the end of March. Reacting to the decline in monthly inflation to 7.47...
Continue Reading... Category : Finance | Comments : 0 | Hits : 264
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Posted Date : 16-Jan-2012 , 08:39:00 am | Posted By CASANSAAR
Chartered accountants (CAs) are lobbying hard to protect a source of income that’s at risk of drying up as the Reserve Bank of India (RBI) may allow state-run banks to stop branch audits, a move that could save costs. Banks are looking for savings as a slowing economy acts as a ...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 1674
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Posted Date : 16-Jan-2012 , 08:26:39 am | Posted By CASANSAAR
After IAS and IPS officers, the government has now turned its heat on Indian Revenue Service (Income Tax) officers asking them to mandatorily furnish their immovable property returns by this month-end failing which they would be denied promotions. Citing a Department of Personnel and Training (DoPT)...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 247
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Posted Date : 15-Jan-2012 , 09:17:58 pm | Posted By CASANSAAR
The government has said it will require an additional 22 crore units of the world's cheapest tablet Aakash to move a step further in its endeavour to merge education with information technology. "Initially, we bought one lakh Aakash tablets but we need 22 crore more tablets in the coming years a...
Continue Reading... Category : General | Comments : 0 | Hits : 475
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Posted Date : 15-Jan-2012 , 07:31:19 am | Posted By CASANSAAR
Chief Economic Advisor Kaushik Basu says, the Finance Ministry will include a special chapter on financing of climate change in the Economic Survey. He said this while addressing a UNDP event in New Delhi.As per the 2010-2011 Economic Survey, India's total carbon- dioxide emissions were about 4 per ...
Continue Reading... Category : Finance | Comments : 0 | Hits : 251
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Posted Date : 14-Jan-2012 , 09:41:10 pm | Posted By CASANSAAR
Institute of Chartered Accountants of India (ICAI) President G. Ramaswamy on Friday urged the Chartered Accountants to gear up to face the number of challenges facing the profession. Chartered Accountants are facing stiff competition in the form of numerous legislations such as Companies Bill, Good...
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Posted Date : 14-Jan-2012 , 09:38:06 pm | Posted By CASANSAAR
The Finance Ministry today said, it expects the public sector units to pay good amount of dividend in the current fiscal.Economic Affairs Secretary R Gopalan told reporters in New Delhi, the Ministry is conscious of the fact that they also need resources for their own financing programmes. They also...
Continue Reading... Category : Finance | Comments : 0 | Hits : 216
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Posted Date : 14-Jan-2012 , 08:20:22 am | Posted By CASANSAAR
Bank of Baroda is positioning itself to offer a world-class banking experience to its customers around the globe through its innovations in products, services and advanced technology. Towards this end, the Bank is transforming itself into a ‘Technology-enabled Customer-c...
Continue Reading... Category : General | Comments : 0 | Hits : 3362
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Posted Date : 14-Jan-2012 , 07:41:01 am | Posted By CASANSAAR
The Reserve Bank of India has laid down guidelines for compensation of executives at private and foreign banks aimed at preventing greed from destabilising the institution, with provisions to clawback pay if transactions fail years after origination. The guidelines based on the recommendations of...
Continue Reading... Category : RBI | Comments : 0 | Hits : 447
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Posted Date : 14-Jan-2012 , 07:37:34 am | Posted By CASANSAAR
India's regulators have unveiled rules for direct investment in stocks by foreign investors, including individuals, seeking to put curbs on opaque structures to prevent routing of funds by resident Indians through this window. On January 1, the government decided to allow foreign resident investo...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 329
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Posted Date : 13-Jan-2012 , 09:45:49 pm | Posted By CASANSAAR
Finance Minister Pranab Mukherjee today said stress has to be put on direct tax collection as part of the country's revenue generation exercise. While the amount of direct tax collected last year was Rs 5,96,000 crore, the indirect tax collection was Rs 3,76,000 crore, the minister said. Inaugu...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 194
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Posted Date : 13-Jan-2012 , 09:07:43 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) today operationalised the change in FDI policy by removing restrictions on foreign investment limit in single brand retail. "...it has now been decided that FDI up to 100% would be permitted in single brand product trading under the government route..., ...
Continue Reading... Category : RBI | Comments : 0 | Hits : 252
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Posted Date : 13-Jan-2012 , 09:01:08 pm | Posted By CASANSAAR
The Government today granted sanction to prosecute 21 social networking sites for allegedly promoting enmity between classes and causing prejudice to national integration.The Department of Information Technology, in its report, told a Delhi court that there is sufficient material to proceed against ...
Continue Reading... Category : General | Comments : 0 | Hits : 485
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Posted Date : 13-Jan-2012 , 08:28:29 am | Posted By CASANSAAR
12th January, 2012 IMPORTANT ANNOUNCEMENT The result of the Information Systems Audit [ISA] Assessment Test held on 24th December, 2011 is likely to be declared tentatively on 18th January, 2012 around 2.00 PM at the Institute’s office at New Delhi.The result of the above Assessmen...
Continue Reading... Category : ICAI | Comments : 0 | Hits : 452
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Posted Date : 13-Jan-2012 , 08:26:27 am | Posted By CASANSAAR
Capital markets regulator SEBI on Thursday said it is in the process of reforming the initial public offer (IPO) norms to ensure minimum price volatility on the day of listing. "We are in the process of reforming IPO process which will ensure that much safer process and volatility in the initial ...
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Posted Date : 13-Jan-2012 , 08:23:35 am | Posted By CASANSAAR
The Centralised Processing Centre of the income tax Department here has processed over 26 lakh e-filed returns in Forms 1-4 for the assessment year 2009-10. It has determined refunds in over five lakh cases. A release said refunds are being sent through State Bank of...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 1223
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Posted Date : 13-Jan-2012 , 08:16:00 am | Posted By CASANSAAR
The service tax department has once again frozen the bank accounts of Air India for non-payment of service tax dues. This is the second time in two months that the Central Board of Excise and Customs has frozen the account of the national carrier. In December, the department had frozen 11 accounts ...
Continue Reading... Category : Service Tax | Comments : 0 | Hits : 820
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Posted Date : 12-Jan-2012 , 10:24:18 pm | Posted By CASANSAAR
The Delhi high court today warned social networking site Facebook India and search engine Google India that websites can be "blocked" like in China if they fail to devise a mechanism to check and remove objectionable material from their web pages. "Like China, we will block all such w...
Continue Reading... Category : General | Comments : 0 | Hits : 834
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Posted Date : 12-Jan-2012 , 09:20:56 pm | Posted By CASANSAAR
The Union Finance Minister Shri Pranab Mukherjee said that he is confident that moderation in inflation would continue in the coming months, though softening in the prices of manufactured goods, despite the rapid decline in non-food primary inflation, may be more gradual. The Finance Minister Shri M...
Continue Reading... Category : Finance | Comments : 0 | Hits : 298
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Posted Date : 12-Jan-2012 , 09:15:09 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs has formed a committee to develop the roadmap for future implementation of XBRL. The committee has its Terms of References as under: A. Identification of class of companies and various reports to be filed in XBRL in Phase-wise manner. B. Development of Tax...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 320
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Posted Date : 12-Jan-2012 , 08:49:33 am | Posted By CASANSAAR
Directors who frequently change the names and addresses of companies in order to evade tax will now become answerable for their actions. The income tax department is identifying directors of such companies, and will make them pay up the tax dues even if they are not attached to the company any more....
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 353
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Posted Date : 12-Jan-2012 , 08:46:37 am | Posted By CASANSAAR
Belying concerns over slowdown, indirect tax collections increased 16.1 per cent to Rs 2,85,787 crore during April-December mainly driven by an uptick in service tax mop-up. Total collection of indirect tax -- Customs, Central Excise and Service Tax -- was Rs 2,46,168 crore in the same p...
Continue Reading... Category : Excise | Comments : 0 | Hits : 297
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Posted Date : 12-Jan-2012 , 08:40:00 am | Posted By CASANSAAR
CBI has filed a charge sheet before a Kolkata special court against a former member of Income Tax Appellate Tribunal for allegedly colluding with the owners of an accounting firm to deliver favourable orders to its client in lieu of illegal gratification. The agency filed its ...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 461
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Posted Date : 12-Jan-2012 , 08:33:14 am | Posted By CASANSAAR
The regulator said these transactions are partly responsible for sharp depreciation in the rupee against the dollar. The Reserve Bank of India (RBI) has cracked the whip on some of the large foreign banks in the country for encouraging companies to participate in speculative trades in the f...
Continue Reading... Category : RBI | Comments : 0 | Hits : 235
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Posted Date : 12-Jan-2012 , 08:30:06 am | Posted By CASANSAAR
India will request Switzerland to provide details of all undisclosed accounts held by Indian nationals in HSBC, Geneva, as the investigation into tax evasion by rich Indian nationals becomes bigger. If the Swiss authorities indeed cooperate with India on this, tax authorities here will be able to...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 255
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Posted Date : 12-Jan-2012 , 08:25:45 am | Posted By CASANSAAR
The Union Finance Minister Shri Pranab Mukherjee said that the current year was a challenging one as far as the domestic and the global economy was concerned. The Finance Minister said that the inflation especially the food inflation remained very high during the major part of the year. He said that...
Continue Reading... Category : Finance | Comments : 0 | Hits : 207
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Posted Date : 11-Jan-2012 , 06:01:52 pm | Posted By CASANSAAR
The results of the Chartered Accountants Final Examination held in November, 2011 and Common Proficiency Test (CPT) held in December, 2011 are likely to be declared on Wednesday, the 18th January, 2012 around 2:00 PM and the same as well as the merit list (candidates se...
Continue Reading... Category : Students Zone | Comments : 0 | Hits : 2986
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