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Posted Date : 11-Oct-2011 , 06:15:07 pm | Posted By CASANSAAR
A series of strikes at the country's largest carmaker Maruti Suzuki India's Manesar plant since June this year has resulted in excise revenue losses to the tune of nearly Rs 350 crore for the government, while the company has already suffered a hit of up to Rs 1,540 crore. Since the first r...
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Posted Date : 11-Oct-2011 , 06:10:51 pm | Posted By CASANSAAR
India and the Asian Development Bank (ADB) will join hands to commemorate 25 years of their partnership at a forum that will discuss Asia’s remarkable economic growth and the challenges it still has to overcome to realize its full potential.Finance Minister Shri Pranab Mukherjee and ADB Presid...
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Posted Date : 11-Oct-2011 , 03:39:28 pm | Posted By CASANSAAR
The amended Indo-Swiss taxation treaty has came into effect, a development that will allow India to seek specific information on black money and tax evasion cases dating back to January 1, 2011. The revised taxation pact between the two countries came into force yesterday, at a time when the bl...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 260
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Posted Date : 11-Oct-2011 , 08:37:17 am | Posted By CASANSAAR
Jairam Ramesh on Monday broke off from his CAG-bashing ministerial colleagues and asked the agency to audit the over Rs 1,00,000-crore annual allocation by his department to rural development schemes. In a letter to the CAG, Jairam Ramesh has sought the appointment of special accountant generals ...
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Posted Date : 11-Oct-2011 , 08:28:55 am | Posted By CASANSAAR
DLF Ltd, a leading real estate developer, has filed an appeal with the Competition Appellate Tribunal (Compat) against the August 16 order of the Competition Commission of India that imposed a fine of Rs 630 crore on the company for “abuse of dominant market position”. The tribunal regis...
Continue Reading... Category : General | Comments : 0 | Hits : 233
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Posted Date : 10-Oct-2011 , 09:01:01 pm | Posted By CASANSAAR
CA. N.J. Yasaswy, founder of the ICFAI Group of educational institutions and a pioneer to promote higher education in the private sector, died on Saturday. A chartered accountant, the 62-year-old Yasaswy built a network of 11 universities and six ICFAI Business-schools, with presence across...
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Posted Date : 10-Oct-2011 , 08:47:57 pm | Posted By CASANSAAR
Government will soon introduce an effective mechanism to regulate Micro Finance Institutions, MFIs in the country. Rural Development Minister Jairam Ramesh said that the system will keep a check on MFIs and strictly regulate their functioning to address the problems of indebtness and multiple borrow...
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Posted Date : 10-Oct-2011 , 10:53:52 am | Posted By CASANSAAR
Renowned ghazal singer Jagjit Singh, 70, passed away at 8 am in Lilavati Hospital on Monday morning. He was admitted to the Lilavati Hospital on September 23 after he suffered brain haemorrhage in suburban Bandra where a life-saving surgery was performed on him. He is survived by...
Continue Reading... Category : General | Comments : 0 | Hits : 486
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Posted Date : 10-Oct-2011 , 08:32:03 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (Icai), the apex body of accounting professionals, wants the Reserve Bank of India (RBI) to appoint statutory auditors in state-run banks. The accountants’ body has sought the government intervention on this. Till 2005, RBI was directly ...
Continue Reading... Category : Income Tax | Comments : 2 | Hits : 834
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Posted Date : 10-Oct-2011 , 08:27:15 am | Posted By CASANSAAR
Just back from Switzerland, President Pratibha Patil says she looks forward to a greater exchange of information on tax-related issues with that country. "Definitely. The Agreement(Amending Protocol to Double Taxation Avoidance Agreement) will further facilitate the flow of information once its...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 242
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Posted Date : 08-Oct-2011 , 08:06:18 pm | Posted By CASANSAAR
QUICK HIGHLIGHTS OF E-FILING IN F.Y. 2011-12 (UPTO 30/9/2011) COMPARATIVE GROWTH OF E-FILING IN CURRENT YEAR FORM WISE RECEIPT OF E-RETURNS UPTO 30th SEPTEMBER S.N. FORM NAME F.Y. 2010-11 F.Y. 2011-12 PERCENT GROWTH IN F.Y. 2011-12 1 ITR-1 13,77,444 31,03,8...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 436
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Posted Date : 08-Oct-2011 , 04:55:15 pm | Posted By CASANSAAR
Government plans to allow reopening of income tax returns of past 16 years of suspected assessees, as against 6 years at present. The move is aimed at strengthening the mechanism to investigate black money cases.A Finance Ministry official said in New Delhi that extending the period of reopening ret...
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Posted Date : 08-Oct-2011 , 04:54:24 pm | Posted By CASANSAAR
Gross Direct Tax collections during the first half of the current fiscal increased by 23% compared to the corresponding period last fiscal. The Net Direct Taxes in the same period grew by over seven percent. Net direct taxes are calculated by deducting refunds from the gross taxes. According to...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 272
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Posted Date : 07-Oct-2011 , 08:16:43 am | Posted By CASANSAAR
The Delhi High Court has upheld the decision of the Institute of Chartered Accountants of India (ICAI) to bar an auditor for Global Trust Bank (GTB) from practising accountancy for five years, according to the national professional accounting body. It was last year that the capital-...
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Posted Date : 07-Oct-2011 , 08:10:38 am | Posted By CASANSAAR
The Sebi is reviewing the impact on the stock market turnover from a possible scrapping of STT, which is levied on all sale and purchase in the equity market. The regulatory authority is in favour of a complete or phased withdrawal of the levy and it expects any such move to positively impact the...
Continue Reading... Category : Income Tax | Comments : 1 | Hits : 298
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Posted Date : 06-Oct-2011 , 07:20:52 pm | Posted By CASANSAAR
Insurance regulator IRDA on Wednesday imposed a penalty of Rs 5 lakh on HDFC Standard Life for delaying settlement of claim and has asked the insurer to streamline its processes. "Considering the nature of the violation, the Authority has come to the conclusion that it is just an...
Continue Reading... Category : General | Comments : 0 | Hits : 306
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Posted Date : 06-Oct-2011 , 07:14:31 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) has provided an impetus to financial inclusion by liberalising money transfer across the country. The apex bank has issued guidelines to open up the formal banking channel to facilitate fund transfers of small value, subject to monthly ceilings and monitoring....
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Posted Date : 06-Oct-2011 , 03:31:12 pm | Posted By CASANSAAR
The Empowered Committee of State Finance Ministers on GST, headed by Bihar Deputy Chief Minister Sushil Kumar Modi, will meet here on October 14 to discuss issues related to the roll out of the ambitious indirect tax regime. "We will be discussing the GST and the Central...
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Posted Date : 06-Oct-2011 , 09:47:44 am | Posted By CASANSAAR
The co-founder of Apple Inc, one of the world's great entrepreneurs, was surrounded by his wife and immediate family when he died in Palo Alto, California. Other details were not immediately available. His death was announced by Apple and sparked an immediate outpouring of sadness and sympathy from...
Continue Reading... Category : International Business | Comments : 0 | Hits : 538
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Posted Date : 05-Oct-2011 , 07:51:34 pm | Posted By CASANSAAR
"With a view to bring about uniformity in securities markets, it has also been decided that the same Know Your Customer (KYC) form and supporting documents shall also be used by all captioned SEBI registered intermediaries," the regulator said in a circular. The new rule will be effective from Janu...
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Posted Date : 05-Oct-2011 , 04:37:19 pm | Posted By CASANSAAR
Providing a breather to families of two of the accused in the Everonn graft case, the Madras high court on Tuesday granted bail to P Kishore, managing director, Everonn Education Limited and businessman Uttam Chand Bohra, charged with being a middleman. Passing orders, Justice K B K Vasuki included ...
Continue Reading... Category : General | Comments : 0 | Hits : 345
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Posted Date : 05-Oct-2011 , 08:52:02 am | Posted By CASANSAAR
The President, Mrs. Pratibha Devi Singh Patil today invited the Swiss government to be a partner in India's skill development mission. She said, the Indian Government has set up a target of training 500 million skilled personnel by 2022. Mrs. Patil said that Switzerland can jointly contribute to ...
Continue Reading... Category : International Business | Comments : 0 | Hits : 297
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Posted Date : 04-Oct-2011 , 03:22:54 pm | Posted By CASANSAAR
The Income Tax Department, on consideration of the reports of disturbance of general life caused due to earthquake in the State of Sikkim, the central Board of Direct Taxes, in exercise of powers conferred under section 119 of the income Tax Act. 1961, hereby extends the ‘due date’ of fi...
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Posted Date : 04-Oct-2011 , 08:05:59 am | Posted By CASANSAAR
The world's cheapest tablet computer, which will be unwrapped on Wednesday, will go on sale in India starting December, the maker of the device has said. Created for use by students, the tablet will first be made available to colleges at Rs 1,750 apiece ($35) although it costs Rs 3,000 to produc...
Continue Reading... Category : General | Comments : 1 | Hits : 830
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Posted Date : 04-Oct-2011 , 08:01:45 am | Posted By CASANSAAR
Chartered accountants of India, who hold key positions in companies within the Gulf, should serve as a conduit for investments into their country, India’s Minister for Corporate Affairs Dr Veerappa Moily said on 
Monday. In his inaugural address at the 30th anniversar...
Continue Reading... Category : Auditing | Comments : 0 | Hits : 368
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Posted Date : 04-Oct-2011 , 07:55:46 am | Posted By CASANSAAR
The home ministry has declined a request from the Comptroller and Auditor General (CAG) for documents and other material to enable it to carry out an audit of the Padma Awards. The ministry’s decision has the backing of India’s highest law officer, and the file has been cleared by Home M...
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Posted Date : 04-Oct-2011 , 07:50:37 am | Posted By CASANSAAR
Capital market watchdog Sebi is considering a new set of regulations for disclosure of only relevant risk factors by the companies in a format that is easy-to-understand for the investors. Besides, the regulator is also planning changes in norms to bring in more clarity in the disclosure of 'relate...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 254
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Posted Date : 04-Oct-2011 , 07:48:38 am | Posted By CASANSAAR
Due to paucity of accommodation in some Zones opted by the candidates in the cities of Bangalore, Chennai, Delhi, Indore and Kolkata, some of the candidates have been allotted examinations centres in other zones of the said cities where the accommodation is available. In view of this, it is not poss...
Continue Reading... Category : Students Zone | Comments : 0 | Hits : 463
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Posted Date : 03-Oct-2011 , 05:23:24 pm | Posted By CASANSAAR
The government is considering allowing foreign companies to completely own single-brand retail stores in the country, after it was forced to put its plans of letting foreign retailers invest in multibrand outlets on the backburner due to lack of political consensus. At present, only 51% foreign d...
Continue Reading... Category : Finance | Comments : 0 | Hits : 291
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Posted Date : 03-Oct-2011 , 05:18:05 pm | Posted By CASANSAAR
Internet search giant Google has been ranked as the best company to work for by management and engineering graduates in two separate surveys, which term the company the world's "most attractive employer" of 2011.According to the survey conducted by global employer branding firm Universum, ...
Continue Reading... Category : International Business | Comments : 0 | Hits : 417
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