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  • RBI raises housing loan limit for UCBs to Rs30 lakh
    Posted Date : 01-Nov-2011 , 08:28:20 am | Posted By CASANSAAR

    The Reserve Bank of India (RBI) on Monday raised the cap onindividual housing loan an urban cooperative bank (UCB) can disburse to Rs30 lakh from Rs25 lakh, reports PTI.   The central bank also raised repayment period for such loans to 20 years.   The housing loan limit ...

    Continue Reading... Category : RBI | Comments : 0 | Hits : 408

  • Extant law: New Sebi takeover code to benefit shareholders
    Posted Date : 01-Nov-2011 , 08:27:00 am | Posted By CASANSAAR

    The new takeover code notified by the Sebi on September 23, 2011 has brought about various changes in the extant law aimed at benefitting shareholders. An important provision, which has been drafted, is the obligation of the board of directors to constitute a committee of independent directors ...

    Continue Reading... Category : SEBI | Comments : 0 | Hits : 290

  • I-T crackdown on undisclosed Swiss account holders
    Posted Date : 01-Nov-2011 , 08:22:55 am | Posted By CASANSAAR

    In a first of its kind crackdown against those stashing unaccounted wealth overseas, the income tax department has launched an offensive against politicians and industrials who had parked money in HSBC Bank, Geneva.Under pressure to act against black money and money lau...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 393

  • e-payment system will reduce corruption: Pranab
    Posted Date : 31-Oct-2011 , 06:46:13 pm | Posted By CASANSAAR

    Finance Minister Pranab Mukherjee today expressed the hope that introduction of e-payment system by the government will help in increasing transparency and in reducing corruption. "A transparent payment trail would ensure the entire payment processes trackable ... this would be major initiative for ...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 282

  • ICAI asks independent directors to question high provisioning by banks
    Posted Date : 31-Oct-2011 , 09:00:58 am | Posted By CASANSAAR

      Taking a tough stand against the practice among banks to make high provisioning that often leads to a steep fall in profits — especially the move by the State Bank of India after the change of guard this year — the Institute of Chartered Accountants of India (...

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  • Govt plans to bring corporate guarantees under tax net
    Posted Date : 31-Oct-2011 , 08:31:11 am | Posted By CASANSAAR

    The government may impose tax on companies giving guarantees for overseas acquisitions, but its efforts to plug a loophole may upset corporates eager to snap up cheap foreign assets. The Income-Tax Department reasons that corporate guarantees are given at a cost. Typically, a charge or fee is p...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 426

  • CBDT's extensive scrutiny of NGOs
    Posted Date : 31-Oct-2011 , 08:16:31 am | Posted By CASANSAAR

    The income tax department’s headline-making notices to non-governmental organisations (NGOs) associated with Kiran Bedi, the ex-police officer who is member of social activist Anna Hazare’s team, is part of an extensive national exercise, say officials. The exercise being carried out ...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 417

  • Shunglu panel suggests changes in CAG, CVC
    Posted Date : 30-Oct-2011 , 08:58:16 pm | Posted By CASANSAAR

    Amidst a debate on controversies surrounding some of the CAG reports, the High Level Committee which went into the Commonwealth Games related projects, has suggested changes in the functioning and structure of top audit and vigilance bodies like the Comptroller and Auditor General making it a three ...

    Continue Reading... Category : CAG | Comments : 0 | Hits : 439

  • RBI doubles transaction cap on small amount transfers
    Posted Date : 30-Oct-2011 , 08:21:43 am | Posted By CASANSAAR

    The Reserve Bank of India (RBI) has been making consistent efforts to achieve the objective of financial inclusion. There is a need to extend coverage to those who cannot open a bank account. It includes those working in far off places from home and have to transfer money to their families back ...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 417

  • NRIs liable to file tax returns too in India
    Posted Date : 30-Oct-2011 , 08:17:11 am | Posted By CASANSAAR

    From the perspective of tax liability, under the Income Tax Act, an individual is considered to be a resident of India if he meets either of these conditions - he should be present in India physically for 182 days or more in a tax year (April 1 to March 31), or for 60 days in a tax year and 365...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 421

  • Important message on Annual Filing
    Posted Date : 29-Oct-2011 , 10:30:37 pm | Posted By CASANSAAR

    Dear Corporates please note that Companies having last date of Annual Filling as October 30th 2011 can file on October 31, 2011also without any additional fee, on account of Oct 30th 2011 being a Sunday. File before October 31st Midnight and save additional fee (...

    Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 859

  • Sebi's will supersedes Companies Bill: Fin Min, MCA
    Posted Date : 29-Oct-2011 , 09:55:41 am | Posted By CASANSAAR

    The Finance Ministry and the Ministry of Corporate Affairs finally seem to have ironed out issues regarding the Companies Bill, especially with respect to clashes with market regulator Sebi's jurisdiction, reports CNBC-TV18’s Aakansha Sethi.   The Finance Ministry and SEBI had asked for...

    Continue Reading... Category : SEBI | Comments : 0 | Hits : 548

  • ICAI finds move confusing, wants plan to be dropped
    Posted Date : 29-Oct-2011 , 09:53:39 am | Posted By CASANSAAR

    The apex accounting standards-setting body, Institute of Chartered Accountants of India (ICAI), will ask the finance ministry to drop plans for separate accounting standards for tax computation purposes.   The move comes in the backdrop of a recommendation made by an expert committee constitu...

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  • Income-Tax notices to two NGOs of Kiran Bedi
    Posted Date : 29-Oct-2011 , 09:45:57 am | Posted By CASANSAAR

    The Income-Tax Department has sent notices to the two NGOs run by Team Anna member Kiran Bedi to find out whether they are engaged in commercial activities. "We are not targeting any particular NGO or charitable trust. In fact, we have sent notices to several organisations, including those run by...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 222

  • RBI penalises two cooperative sector banks
    Posted Date : 28-Oct-2011 , 05:34:54 pm | Posted By CASANSAAR

    The Reserve Bank has imposed a penalty of Rs 5 lakh each on two cooperative sector lenders -- the Pravara Sahakari Bank and the Baroda Traders Co-operative Bank -- for violation of various norms. "RBI has imposed a monetary penalty of Rs 5 lakh on Pravara Sahakari Bank Ltd, Ahmednagar, Maharash...

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  • Microsoft world's best company to work for: Great Places to Work Survey
    Posted Date : 28-Oct-2011 , 04:55:27 pm | Posted By CASANSAAR

    Software giant Microsoft has topped a list of the world's best multinational companies to work for, where all the top-ten positions have been bagged by American firms. Internet giant Google has been ranked at the fourth place in the list of compiled by human resources consultancy 'Great Place to ...

    Continue Reading... Category : International Business | Comments : 0 | Hits : 426

  • Delhi HC dismisses Airtel plea against TDSAT
    Posted Date : 28-Oct-2011 , 10:25:04 am | Posted By CASANSAAR

    The Delhi High Court has dismissed Bharti Airtel's plea against telecom tribunal TDSAT that asked it to first pay half of the  50 crore fine imposed on it by DoT before the hearing.The Department of Telecom (DoT) had imposed  50 crore fine on the country's largest telecom operato...

    Continue Reading... Category : General | Comments : 0 | Hits : 229

  • SEBI allows sub-brokers to carry out ‘in-person’ verification
    Posted Date : 28-Oct-2011 , 10:19:35 am | Posted By CASANSAAR

    Market watchdog Securities and Exchange Board of India (SEBI) has allowed sub-brokers to carry out ‘in-person’ verification (IPV) of clients, reports PTI.“... the subsidiaries of stock exchanges, acting as stock brokers, may rely upon the ‘in-person’ verification done b...

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  • Arvind Kejriwal seeks more time on Income Tax Department notice asking to pay over Rs 9 lakh in dues
    Posted Date : 28-Oct-2011 , 10:18:26 am | Posted By CASANSAAR

    Team Anna member Arvind Kejriwal did not comply with the Income Tax Department notice asking him to pay over Rs nine lakh in dues, saying he was needed more time to decide on the issue as he was given "very little time". "I am consulting my friends and will take a decision in a week or ten days....

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 232

  • India's richest getting poorer, says Forbes
    Posted Date : 27-Oct-2011 , 09:52:16 pm | Posted By CASANSAAR

    India's richest are getting poorer, according to Forbes, as falling stock prices, corruption scandals in Asia's third-largest economy and a global slowdown wiped 20 percent off the total value of the country's 100 wealthiest in the last year. Mukesh Ambani, head of Reliance Industries, India's ...

    Continue Reading... Category : International Business | Comments : 0 | Hits : 295

  • Your private details on Facebook are at risk: Study
    Posted Date : 27-Oct-2011 , 08:14:51 pm | Posted By CASANSAAR

    Do you really know all your Facebook "friends"? Beware, if your answer is 'No', as researchers say you could be putting your private details at risk every time you say 'Yes' to an unknown friend request. A team at the University of British Columbia in Canada found a worrying way to evade Faceboo...

    Continue Reading... Category : International Business | Comments : 0 | Hits : 949

  • Rajat Gupta pleads not guilty, released on $10-million bail
    Posted Date : 27-Oct-2011 , 08:51:30 am | Posted By CASANSAAR

    Former Goldman Sachs and P&G director Rajat Gupta appeared in a US court today after being arrested and was indicted on six criminal counts on securities fraud. Gupta, 62, is accused of sharing confidential information with hedge fund manager Raj Rajaratnam, the Sri Lanka born founder...

    Continue Reading... Category : International Business | Comments : 0 | Hits : 282

  • UK blacklists 2000 Indian banks from student visa process
    Posted Date : 26-Oct-2011 , 05:45:16 pm | Posted By CASANSAAR

    As of November 24 this year, around 1,940 banks — mostly cooperative ones — have been named as “financial institutions that do not satisfactorily verify financial statements,” according to the UK Border Agency. It means that students who need to show evidence that they have ...

    Continue Reading... Category : Students Zone | Comments : 0 | Hits : 634

  • India GDP growth to pip China: Ernst & Young
    Posted Date : 26-Oct-2011 , 05:38:33 pm | Posted By CASANSAAR

    India is expected to clock higher GDP growth than China in 2013-14. This has been stated in a report by Ernst and Young in its latest report. The forecast pegs India's GDP growth rate at 9.5 percent followed by nine percent by China in 2013. Similarly, the report says that India will record gro...

    Continue Reading... Category : International Business | Comments : 0 | Hits : 260

  • RBI hikes repo rate by 25 basis points; home, auto loans likely to get costlier
    Posted Date : 25-Oct-2011 , 01:02:31 pm | Posted By CASANSAAR

    The Reserve Bank of India (RBI) on Tuesday raised the repo rate by 25 basis points to 8.5 per cent. The rate hike is the 13th since early 2010 but the RBI said it was likely to hold off on further increases as it expects high inflation to ease beginning December. The central bank also deregulat...

    Continue Reading... Category : RBI | Comments : 1 | Hits : 420

  • New PAN Application Form 49AA for resident/non-resident Individual, LLP, Company, Firm, AOP, BOI
    Posted Date : 25-Oct-2011 , 08:38:22 am | Posted By CASANSAAR

    Income Tax Department has released a New PAN application Form No. 49AA for Individuals not being a citizen of India, LLP registered outside India, Company registered outside India, Firm formed or registered outside India, Association of persons(Trusts) formed outside India, ...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 1810

  • Cabinet to take up Companies Bill on October 25‎
    Posted Date : 25-Oct-2011 , 08:26:28 am | Posted By CASANSAAR

    Corporate Affairs Minister Veerappa Moily on Monday said the new Company Law Bill is likely to come up before the Cabinet for approval on Tuesday."The bill is likely to come tomorrow in the Union Cabinet. I hope it gets passed," Moily told reporters here. The Bill has already been vetted by the Parl...

    Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 307

  • 2G scam: ICSI shares MCA's view on date for capital enhancement
    Posted Date : 25-Oct-2011 , 08:25:15 am | Posted By CASANSAAR

      The apex body of company secretaries, ICSI, is likely to endorse the view of Ministry of Corporate Affairs (MCA) on the issue of effective date for enhancement of authorised capital that is crucial in the 2G spectrum scam case.   It is learnt that the Institute of Company Secretaries ...

    Continue Reading... Category : ICSI | Comments : 0 | Hits : 495

  • NCM to take up with par panel issue of tax on donations
    Posted Date : 25-Oct-2011 , 08:23:01 am | Posted By CASANSAAR

    The National Minority Commission today voiced concern on a proposal in the Direct Tax Code Bill to tax donations for institutions and organisations run by a particular religion or community and is planning to take up the issue with a parliamentary committee examining it.   A delegation led b...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 440

  • CBI arrests ITO and CA in Bribery Case
    Posted Date : 24-Oct-2011 , 10:01:40 pm | Posted By CASANSAAR

    An Income Tax officer and a chartered accountant (CA) were arrested on Wednesday by the Central Bureau of Investigation's (CBI) Anti-Corruption Bureau (ACB) Mumbai for demanding and accepting a bribe.   The officer, Ranjan Prakash, and the CA, Vimal Patangia, were nab...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 686

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