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Posted Date : 11-Dec-2011 , 09:11:29 am | Posted By CASANSAAR
Three professional institutions — Institute of Chartered Accountants of India (ICAI), Institute of Companies Secretaries of India (ICSI) and the Institute of Cost and Work Accountants of India (ICWAI) — are trying to make the best of their quality review boards (QRBs). Thanks to the gove...
Continue Reading... Category : Auditing | Comments : 0 | Hits : 339
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Posted Date : 11-Dec-2011 , 09:04:33 am | Posted By CASANSAAR
Gandhian Anna Hazare will observe a day-long fast at Jantar Mantar here on Sunday to protest against the Lokpal draft prepared by the Parliamentary Standing Committee and to push for a strong Lokpal Bill. Anna is expected to pay tribute to Mahatma Gandhi at Rajghat and then move to Jantar Manta...
Continue Reading... Category : General | Comments : 0 | Hits : 360
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Posted Date : 11-Dec-2011 , 09:02:19 am | Posted By CASANSAAR
The Finance Ministry today asked state governments of the eastern region to release about 200 crore rupees as part of their share for recapitalisation of Regional Rural Banks, RRBs in the country. Addressing Chief Ministers and Bankers of the eastern region at a meeting in Kolkata, the Finance ...
Continue Reading... Category : Finance | Comments : 0 | Hits : 254
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Posted Date : 10-Dec-2011 , 08:12:59 pm | Posted By CASANSAAR
The Government has said that the proposed Companies Bill will update the Company Law in line with the best global practices. Addressing a seminar in New Delhi Minister of State for Corporate Affairs, Mr. R. P. N. Singh said once an Act, the Bill would introduce new ideas such as corporate social res...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 474
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Posted Date : 10-Dec-2011 , 12:11:23 pm | Posted By CASANSAAR
Shri R P N Singh , Minister of State for Corporate Affairs, While delivering the ICSI FOUNDATION DAY Lecture here today has said that ,” The professionals like Company Secretaries have been playing an important role in shaping modern Corporate India .He appreciated the efforts of ...
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Posted Date : 09-Dec-2011 , 08:43:50 pm | Posted By CASANSAAR
Indirect tax collections rose 16.8% during the first eight months of the current fiscal to Rs 2,52,544 crore, prompting the Central Board of Excise and Customs (CBEC) to express "optimism" in achieving the revised Budget estimate target. However, Central Excise collections dropped by 6.5% to Rs 11,...
Continue Reading... Category : Excise | Comments : 0 | Hits : 284
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Posted Date : 09-Dec-2011 , 08:40:51 pm | Posted By CASANSAAR
Bank-wise/category-wise number of Directors in Public Sector Banks including State Bank of India, as per Reserve Bank of India (RBI) record, is annexed. Government Nominee Directors are appointed as per extant Guidelines. Non-Governmental Directors are elected under Section 9(3)(i) of the...
Continue Reading... Category : Banking | Comments : 0 | Hits : 534
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Posted Date : 09-Dec-2011 , 08:38:42 pm | Posted By CASANSAAR
India successfully hosted the three day 4th International Tax Dialogue Conference on “Tax and Inequality”. The conference was inaugurated by the Finance Minister of India Mr Pranab Mukherjee on 7th December. More than 400 senior tax policymakers and administrators from almost 90 countrie...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 230
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Posted Date : 09-Dec-2011 , 08:36:59 pm | Posted By CASANSAAR
The government today said it paid Rs 68,994 crore as income tax refunds till November this fiscal as compared to Rs 75,160 crore for the entire 2010-11. In a written reply to Lok Sabha, Minister of State for Finance S S Palanimanickam also said the number of refund claims pending as on October 1...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 385
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Posted Date : 09-Dec-2011 , 08:16:41 am | Posted By CASANSAAR
The service tax department has frozen the bank accounts of Air India and Kingfisher Airlines for non-payment of dues. This shows the extent of cash crunch the aviation industry is facing, making defaults in payment almost routine. While the state-run carrier has dues of Rs 170 crore, the Vijay ...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 776
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Posted Date : 09-Dec-2011 , 08:13:55 am | Posted By CASANSAAR
The Ministry of Corporate Affairs today said it has tightened its Early Warning System (EWS) to scrutinise activities of companies, including those that raised money through initial public offerings. Balance sheets of companies with a paid-up capital of Rs 50 crore and more and those having...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 519
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Posted Date : 09-Dec-2011 , 08:10:57 am | Posted By CASANSAAR
The government has asked PSU banks for data on loans given to airlines industry, a move which has sparked some hopes among banks that the Centre may step in to protect their interest. There are fears that banks may have to set aside cash as a provision against the loans turning bad. Banks have t...
Continue Reading... Category : Banking | Comments : 0 | Hits : 214
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Posted Date : 09-Dec-2011 , 08:09:27 am | Posted By CASANSAAR
The UPA might be getting flak over black money from the Opposition, but the global community ranks India amongst the top three countries fighting to get tax evaders to book. Global Forum on Tax Transparency Head Pascal Saint Amans said, "They (global Community) pretend they are bringing transparent...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 191
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Posted Date : 09-Dec-2011 , 08:07:34 am | Posted By CASANSAAR
Social activist Anna Hazare created a movement not only in the country but on Facebook also, as people discussed and debated the Jan Lokpal bill, making him the most talked about topic in 2011 on the social networking site.The Facebook Memology 2011, which captured the top ten Facebook status tre...
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Posted Date : 08-Dec-2011 , 08:48:09 pm | Posted By CASANSAAR
Comptroller & Auditor General of India (CAG), Shri Vinod Rai has been elected as the Chairman of the Panel of External Auditors of the United Nations, the Specialized Agencies and the International Atomic Energy Agency. He succeeds Mr.Norbert Hauser, Vice-President, Federal Court of Auditors, Ge...
Continue Reading... Category : Auditing | Comments : 0 | Hits : 476
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Posted Date : 08-Dec-2011 , 04:49:53 pm | Posted By CASANSAAR
QUICK HIGHLIGHTS OF E-FILING IN F.Y. 2011-12 (UPTO 30/11/2011) COMPARATIVE GROWTH OF E-FILING IN CURRENT YEAR FORM WISE RECEIPT OF E-RETURNS UPTO 30th NOVEMBER S.N. FORM NAME F.Y. 2010-11 F.Y. 2011-12 PERCENT GROWTH IN F.Y. 2011-12 1 ITR-1 14...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 510
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Posted Date : 08-Dec-2011 , 08:27:47 am | Posted By CASANSAAR
Around the same time Telecom Minister Kapil Sibal was planning to pull up Google, the Income-Tax Department was giving the final touches to a tax demand on the Indian arm of the global search engine company. Google India Pvt Ltd, according to the tax office, has not offered its entire income for ...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 437
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Posted Date : 08-Dec-2011 , 08:21:22 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) is planning to relax advertisement norms for mutual funds. The securities market regulator may allow mutual funds to use more space in advertisements to promote their products by reducing the disclaimer size. The mutual fund industry has been cry...
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Posted Date : 08-Dec-2011 , 08:09:38 am | Posted By CASANSAAR
Union Finance Minister, Shri Pranab Mukherjee has said that it is desirable to have a periodic international dialogue on economic concerns that affects lives in all our countries. He was inaugurating the 4th International Tax Dialogue Global Conference on “Tax and Inequali...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 186
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Posted Date : 08-Dec-2011 , 08:08:46 am | Posted By CASANSAAR
Government has constituted a Committee for drafting the National Competition Policy with a view to achieve highest sustainable levels of economic growth, entrepreneurship, employment, higher standards of living for citizens, protect economic rights for just, equitable, inclusive and sustainable econ...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 210
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Posted Date : 07-Dec-2011 , 08:20:05 pm | Posted By CASANSAAR
The government has decided to suspend its decision on allowing 51 per cent Foreign Direct Investment (FDI) in the multi-brand retail sector. Making an announcement in the Lok Sabha today, the Finance Minister, Mr. Pranab Mukherjee said the government will withhold the decision till a consensus is re...
Continue Reading... Category : International Business | Comments : 0 | Hits : 309
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Posted Date : 07-Dec-2011 , 07:47:40 pm | Posted By CASANSAAR
The union government was asked today by the Delhi High Court to explain its stand on a plea challenging a statutory regulation limiting the number of short messages ( SMs) sent through a SIM a day to a maximum of 200. A bench of Acting Chief Justice A K Sikri and Justice Rajiv Sahai Endlaw issue...
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Posted Date : 07-Dec-2011 , 01:24:45 pm | Posted By CASANSAAR
Finance Minister Pranab Mukherjee on Wednesday expressed the hope that the Direct Taxes Code ( DTC), which seeks to modernise tax laws in the country, will come into force from April 1, 2012. "The proposed Direct Taxes Code brings together the policy initiatives on direct taxes. It is slated to c...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 693
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Posted Date : 07-Dec-2011 , 08:40:06 am | Posted By CASANSAAR
Accounting regulator ICAI has barred two Lovelock & Lewes auditors from practice for life and slapped a penalty of Rs 5 lakh each on them for their role in the Rs 14,000-crore Satyam accounting scam. A probe by an ICAI "disciplinary committee has found Chartered Accountants Pulavarthi Siva P...
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Posted Date : 07-Dec-2011 , 08:36:28 am | Posted By CASANSAAR
The Income Tax (I-T) department has no record of its performance over the last two months. This is because of the ongoing nationwide agitation by I-T officials - from the level of income tax officer (ITO) to assistant commissioner of income tax (ACIT)/ deputy commissioner of income tax (DCIT). &nbs...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 252
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Posted Date : 07-Dec-2011 , 08:32:35 am | Posted By CASANSAAR
The high-level Finance Ministry committee on curbing the menace of blackmoney has received more than 3,000 comments from general public suggesting ways to curb the generation of illicit funds. The committee, headed by Chairman of the Central Board of Direct Taxes (CBDT), has received close to 3,300...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 313
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Posted Date : 07-Dec-2011 , 08:30:42 am | Posted By CASANSAAR
The government on Monday said it is confident of achieving indirect tax collection target of over 4 lakh crore for the current fiscal despite the slowdown in industrial activities. Chairman Central Board of Excise and Customs (CBEC) S K Goel told reporters on the sidelines of a meet in Ne...
Continue Reading... Category : Excise | Comments : 0 | Hits : 273
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Posted Date : 06-Dec-2011 , 09:10:32 pm | Posted By CASANSAAR
Telecom Minister Kapil Sibal on Tuesday vowed to stop offensive and defamatory content on internet sites as a controversy raged over government's move to monitor content in cyber space. Maintaining that the government does not want to interfere with the freedom of the press, he said if the social...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 184
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Posted Date : 06-Dec-2011 , 08:04:38 am | Posted By CASANSAAR
The dangers of clubbing incomes of husband-wife came to the fore in the Damle's case, but aside from that it may have unveiled their method of laundering black money. A Delhi court has decided to put an IRS officer on trial along with his chartered acco...
Continue Reading... Category : Income Tax | Comments : 1 | Hits : 862
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Posted Date : 06-Dec-2011 , 08:01:01 am | Posted By CASANSAAR
Market regulator Sebi has called for the creation of an independent regulator to oversee auditors, a move that is being opposed by the Institute of Chartered Accountants of India (ICAI), the industry body that self-regulates the auditing profession at present. "We have taken up the issue with th...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 686
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- Payment of MCA fees –electronic mode-regarding
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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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