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Posted Date : 28-Sep-2011 , 08:25:48 am | Posted By CASANSAAR
Anil Ambani is a dedicated marathon runner. That skill was in full display on Tuesday as he moved from one annual general meeting to another— four in all — from early morning to the evening. In the process, the chairman of R-ADAG, now known as Reliance Group, spelled out his det...
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Posted Date : 27-Sep-2011 , 12:40:01 pm | Posted By CASANSAAR
Regulator Trai today exempted various service providers, including the dealers of telecom operators, e-ticketing agencies and social networking sites, from the new limit of one hundred SMSes per day per SIM, which was imposed to block pesky calls and messages. On September 5, after much delay, T...
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Posted Date : 27-Sep-2011 , 08:24:02 am | Posted By CASANSAAR
The Securities Appellate Tribunal (SAT) on Monday upheld a Sebi order imposing a Rs 2-lakh fine on private lender Axis Bank, saying the same individual cannot be on the board of both the debenture trustee and the issuer. In 2009, the market regulator had found certain deficiencies in Axis Bank's...
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Posted Date : 27-Sep-2011 , 08:21:41 am | Posted By CASANSAAR
India has initiated a process to negotiate with 74 countries to broaden the scope of the Article concerning exchange of information to specifically include banking information and information which has no domestic interest. "Negotiations/renegotiations of Double Tax Avoidance Agreements (DTAA) with ...
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Posted Date : 27-Sep-2011 , 08:15:45 am | Posted By CASANSAAR
Aiming to provide relief to stock market investors facing negative cues of late, the finance ministry is planning to reduce duties on transactions in equities and currency derivatives. It is considering a cut in the securities transaction tax (STT) as well as a reduction in stamp duty on ‘futu...
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Posted Date : 26-Sep-2011 , 08:43:31 am | Posted By CASANSAAR
Telecom Regulation Authority of India, TRAI on Sunday said that there is no plan to do away the restriction of100 SMSes per SIM per day for all subscribers, except on festivals. Top TRAI sources said that in order to curb the menace of pesky calls and messages this recommendation will be applic...
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Posted Date : 26-Sep-2011 , 08:42:26 am | Posted By CASANSAAR
The Indian stock exchanges may not rank high on international charts in terms of the volume of business done, but they have beaten global market leaders in terms of pay hikes given to their top executives. The two largest stock exchanges of the world -- the NYSE Euronext and Nasdaq OMX G...
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Posted Date : 26-Sep-2011 , 08:37:10 am | Posted By CASANSAAR
Telecom Regulatory Authority of India, TRAI has sought additional information from leading service providers, including Bharti airtel and Vodafone, on their recent decision to hike mobile tariffs by up to 20 per cent. Telecom service providers like Bharti airtel, Idea Cellular, Vodafone and Reliance...
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Posted Date : 25-Sep-2011 , 01:46:34 pm | Posted By CASANSAAR
Amid turmoil in the stock market last week, the combined market capitalisation (m-cap) of nine of the country's top-10 firms declined by Rs 70,961.76 crore, with Reliance Industries bearing the maximum loss. M-cap of RIL, the most valued firm, dropped by Rs 18,565 crore to Rs 2,52,361 crore last ...
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Posted Date : 24-Sep-2011 , 10:08:35 am | Posted By CASANSAAR
Call it corporatisation of political parties. Taking a step ahead towards introducing financial accountability among the political parties in India, the auditing regulator Institute of Chartered Accountants of India (ICAI) is set to issue guidelines on standard accounting norms to its member Charter...
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Posted Date : 24-Sep-2011 , 09:59:12 am | Posted By CASANSAAR
In a judgment, which will rake in money into government coffers, the Delhi high court on Friday ruled that tenants of properties rented out for commercial purposes are liable to pay service tax. A three judge special bench headed by Chief Justice Dipak Misra held that renting immovable property itse...
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Posted Date : 24-Sep-2011 , 09:49:21 am | Posted By CASANSAAR
A government panel on Friday ruled out voluntary disclosure of income scheme (VDIS), framing a new Act and capital punishment as measures to deal with the issue of black money stashed abroad. The committee merely considered strengthening the administrative machinery and better sharing of intelligenc...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 245
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Posted Date : 22-Sep-2011 , 07:43:17 am | Posted By CASANSAAR
The Central Direct & Indirect Taxes Committees are in the process of identifying issues that need to be taken up in the Pre-Budget Memoranda on Direct & Indirect Taxes – 2012 to be submitted to the Ministry of Finance. Suggestions are invited on laws relating to Direct Tax, Centra...
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Posted Date : 22-Sep-2011 , 07:41:52 am | Posted By CASANSAAR
The Commerce Ministry on Wednesday said there is a need for a relook at the land ceiling rules for Special Economic Zones in view of protests against land acquisitions and it will shortly come out with a draft to bring changes in the SEZ Act of 2005. "There is a need (for a relook at) the SEZ ru...
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Posted Date : 22-Sep-2011 , 07:38:46 am | Posted By CASANSAAR
Nine months after the responsibility for Income Tax investigations was taken over by the Chairman of the Central Board of Direct Taxes (CBDT), the portfolio has now once again been vested with a separate member, in sync with the practice of previous years. The present Chairman of the Central Boa...
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Posted Date : 22-Sep-2011 , 07:35:27 am | Posted By CASANSAAR
Top companies and banks, including Bharti Airtel, Maruti Suzuki, SAIL and SBI, have paid lower advance taxes during the July-September quarter, reflecting the impact of slowdown. The other large companies which have paid lower taxes during the second quarter include IndianOil, Bh...
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Posted Date : 22-Sep-2011 , 07:33:36 am | Posted By CASANSAAR
Market regulator Sebi has banned five FIIs, five broking houses, six companies and several other related entities from the market for their role in stock price manipulation using the GDR route. In its 44 page order, released on Wednesday, Sebi directed India Focus Cardinal Fund, ...
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Posted Date : 21-Sep-2011 , 05:36:52 pm | Posted By CASANSAAR
The Second round of consultations on the revised version of National Competition Policy will held tomorrow at FICCI, Federation House, Tansen Marg, New Delhi. The Union Minister for Corporate Affairs Dr. M.Veerappa Moily will chair the consultations. The consultations are a sequel to the consti...
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Posted Date : 21-Sep-2011 , 08:22:00 am | Posted By CASANSAAR
In what could come as a major blow to the big four accounting firms, companies filing their financial records and returns in XBRL —(extensible business reporting language)—a computer language for reporting financial statements—may be exempted from getting a certification on the sam...
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Posted Date : 21-Sep-2011 , 08:20:44 am | Posted By CASANSAAR
The world economy has entered a ``dangerous new phase,'' according to the chief economist of the International Monetary Fund. As a result, the international lending organization has sharply downgraded its economic outlook for the United States and Europe through the end of next year. The IMF exp...
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Posted Date : 21-Sep-2011 , 08:07:58 am | Posted By CASANSAAR
In a move that will bring cheers to exporters, the government today said it was working on a system to automatically transfer service tax refunds in their accounts. "We are at a very advanced stage of preparing a software which would provide refunds of service tax to exporters automatically...
Continue Reading... Category : Service Tax | Comments : 0 | Hits : 357
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Posted Date : 21-Sep-2011 , 08:05:02 am | Posted By CASANSAAR
This winter session of Parliament will see important Bills coming up for clearance to bring in transparency in procurement of raw materials in the government sector and efficiency in corporate governance. The Government will introduce the Public Procurement Policy and the Company Law Bill in the wi...
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Posted Date : 20-Sep-2011 , 07:06:37 pm | Posted By CASANSAAR
Faced with strong protests from the farmers and a demand from the Maharashtra Government, the Government on Tuesday announced lifting of ban on export of onions with immediate effect. The decision to permit exports of onions was taken by the Empowered Group of Ministers (EGoM) on Food headed by Fin...
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Posted Date : 20-Sep-2011 , 08:01:57 am | Posted By CASANSAAR
Centralized Processing Center (CPC), Bangalore has been actively processing of returnsfor AY 2010-11. The statistics for AY 2009-10, AY 2010-11 and 2011-12 are (as of 7th September,2011)- AY09-10 AY10-11 AY11-12 No. of retur...
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Posted Date : 20-Sep-2011 , 07:58:15 am | Posted By CASANSAAR
The Cricket Board has made a net profit of Rs 189.72 crore in 2010-11, a 200 per cent increase in its surplus in the previous fiscal, BCCI treasurer M P Pandove said in his annual report. The net surplus, amounting to an increase of over Rs 126.5 crore from 2009-10, included...
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Posted Date : 20-Sep-2011 , 07:55:33 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) will soon have a dedicated cell to monitor election-related expenditure by political parties and donations made to them. "A special cell is being created under CBDT to look at election funding," said a finance ministry official. The new cell will be heade...
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Posted Date : 20-Sep-2011 , 07:51:26 am | Posted By CASANSAAR
Frequently Asked Questions (FAQs) on “Exemption in a Paper's” ...
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Posted Date : 20-Sep-2011 , 07:46:39 am | Posted By CASANSAAR
In a bid to give more teeth to financial investigation and tracking down black money, the finance ministry has cleared two new units for the Central Board of Direct Taxes (CBDT). The two special investigation units, in addition to the three existing units, will widen the investigatio...
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Posted Date : 19-Sep-2011 , 09:50:24 pm | Posted By CASANSAAR
International companies are answerable to Indian consumer courts for service deficiency, the Supreme Court has ruled, upholding the apex consumer forum's direction to a Lebanese international courier company to pay 71,615.75 US dollars compensation to a Mumbai-based firm. A bench of j...
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Posted Date : 19-Sep-2011 , 08:46:53 am | Posted By CASANSAAR
Market regulator Sebi's recent decision to revise penalty on stock brokers and their clients for their failure to deposit margins fully or partially has left the market participants worried about its implications. Most brokers fear that the move will adversely impact participation of investors in...
Continue Reading... Category : SEBI | Comments : 0 | Hits : 261
- Income Tax Dept serves notices to salaried individuals for documentary proof to claim exemptions
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- NFRA Imposes Monetary penalty of Rs 1 Crore on M/s Dhiraj & Dheeraj
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- NFRA debars Auditors, imposes Rs 50 lakh penalties for lapses in Brightcom, CMIL cases
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- CBDT extends due date for filing Form 10A/10AB upto 30th June, 2024
- RBI comes out with FEMA regulations for direct listing on international exchange
- RBI directs payment firms to track high-value, fishy transactions during elections
- NCLT orders insolvency proceedings against Subhash Chandra
- Income Tax dept starts drive to dispose of appeals, 0.54 million at last count
- Payment of MCA fees –electronic mode-regarding
- Budget '11-12' Parliament Completes Approval Exercise
- Satyam restrained from operating its accounts
- ICICI a foreign firm, subject to FDI norms: Govt
- Maha expects Rs 15 crore entertainment tax revenue from IPL
- CAG blames PMO for not acting against Kalmadi
- No service tax on visa facilitators: CBEC
- 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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