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Posted Date : 09-Sep-2011 , 08:10:53 am | Posted By CASANSAAR
The direct tax collections rose 26% in the first five months of the current fiscal, belying fears of a drop in government revenue because of the slowdown. The 2011-12 budget has assumed a 19% increase in direct tax collections. However, net tax collections were down in April-August 2011-12 to Rs...
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Posted Date : 08-Sep-2011 , 07:27:22 pm | Posted By CASANSAAR
The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that the total number of defunct companies, (those that have not filed their Annual Returns and Balance Sheets for the last three consecutive years or more) as per MCA records is 1,62,144.Total ...
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Posted Date : 08-Sep-2011 , 07:24:30 pm | Posted By CASANSAAR
The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the LokSabha that as per latest information available, no company with Baba Ramdev as Director is registered in the country. However, 34 companies are registered in the country with&...
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Posted Date : 08-Sep-2011 , 12:44:11 pm | Posted By CASANSAAR
The due date for submission of ITR-V for A.Y. 2010-11 has been extended upto 31.10.2011 or 120 days from the date of upload whichever is later....
Continue Reading... Category : Income Tax | Comments : 2 | Hits : 1119
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Posted Date : 08-Sep-2011 , 08:08:10 am | Posted By CASANSAAR
The CBI found Rs 2.01 crore belonging to arrested Income Tax commissioner Daya Shankar from his chartered accountant's residence in Lucknow. The CBI also seized Rs 8.5 lakh from Shankar's Mumbai residence and Rs 4 lakh from his Ghaziabad house. Shanker was arrested on August 29 while accepting Rs 2 ...
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Posted Date : 08-Sep-2011 , 08:02:24 am | Posted By CASANSAAR
Bombay High Court has extended the Stay until 30th September 2011, in the famous renting case – Retailers Association of India and others v Union of India ....
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Posted Date : 08-Sep-2011 , 07:56:14 am | Posted By CASANSAAR
The Reserve Bank of India has sought a one-off tax exemption from the government for foreign banks that convert into local subsidiaries as it intensifies efforts to ring-fence the domestic financial system from global shocks. The permission, if granted by the government that's already facing wi...
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Posted Date : 08-Sep-2011 , 07:54:00 am | Posted By CASANSAAR
Till the other day, the Central Board of Direct Taxes (CBDT) was confident about meeting the direct tax collection targets. Now, though, it has turned apprehensive. Reason: Sluggish performance of manufacturing and other industry sectors. The indications, as a senior CBDT official said, are...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 255
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Posted Date : 08-Sep-2011 , 07:48:23 am | Posted By CASANSAAR
Cautioning that the economy is passing through turbulent times, Finance Minister Pranab Mukherjee today asked banks to maintain a strict vigil on the quality of their loan portfolio. "The commitment to moderate levels of inflation has led to higher interest rates. In this environment, banks need to...
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Posted Date : 08-Sep-2011 , 07:45:49 am | Posted By CASANSAAR
nline media company Yahoo has fired chief executive officer Carol Bartz, who was brought on board two years ago to turn around the company's troubled fortunes, and named Chief Financial Officer Tim Morse as interim chief executive. Under a 'leadership reorganisation' move, the California-based comp...
Continue Reading... Category : General | Comments : 0 | Hits : 440
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Posted Date : 07-Sep-2011 , 01:39:20 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) has mooted the idea of lowering banks’ reserve requirements, which have remained high for the Indian banking sector. The move is aimed at making more resources available to market participants. “Currently, the cash reserve ratio and the statutory ...
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Posted Date : 07-Sep-2011 , 10:45:53 am | Posted By CASANSAAR
An explosion was reported outside the Delhi High Court on Wednesday and 24 people were injured in the blast. The explosion took place outside Gate No. 5 of the Delhi High Court. The injured were rushed to the nearest government hospital the RML Hospital. Gate no. 5 of the Delhi High Court is where...
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Posted Date : 07-Sep-2011 , 08:09:52 am | Posted By CASANSAAR
Government has ruled out allowing foreign firms in auditing operations in the country. The State Minister of Finance, Mr. Namo Narain Meena today told Rajya Sabha in a written reply that the foreign firms cannot carry out auditing functions in the country. They can however, operate in areas as consu...
Continue Reading... Category : Auditing | Comments : 0 | Hits : 542
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Posted Date : 07-Sep-2011 , 07:29:49 am | Posted By CASANSAAR
The Committee on Comprehensive Review of National Small Savings Fund (NSSF) headed by Deputy Governor, RBI has recommended revision of certain provisions of PPF Scheme, 1968 and benchmarking of interest rates on various small savings schemes with the secondary market yields ...
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Posted Date : 07-Sep-2011 , 07:22:10 am | Posted By CASANSAAR
It's good news for those thinking of prepaying their home loans to lessen the EMI burden. The Reserve Bank of India (RBI) on Tuesday directed banks not to impose pre-payment charges on floating rate loans, a decision taken at its annual conference on banking ombudsman held on Monday. Banks can, how...
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Posted Date : 07-Sep-2011 , 07:18:34 am | Posted By CASANSAAR
The government today said it has collected specific information from treaty countries on 7,704 cases where payments were received from non-residents in various countries over the past two years and was investigating the cases. "In the last 24 months Income Tax Department have collected 7,704 d...
Continue Reading... Category : Finance | Comments : 0 | Hits : 302
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Posted Date : 06-Sep-2011 , 10:43:54 pm | Posted By CASANSAAR
University of Cambridge has retained the number one spot ahead of Harvard, while MIT has jumped to the third place ahead of Yale and Oxford in the eighth QS World University Rankings. The US takes 13 of the top 20 spots and 70 of top 300 places in the latest world rankings of Universities compile...
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Posted Date : 06-Sep-2011 , 10:38:50 pm | Posted By CASANSAAR
The government on Tuesday said there is no evidence to suggest any increase in incidence of tax evasion over the previous years. "There is no evidence to suggest that there has been a rise in evasion of income tax over the previous years," Minister of State for Finance S S Palanimanickam said in ...
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Posted Date : 06-Sep-2011 , 03:53:05 pm | Posted By CASANSAAR
Former SP general secretary Amar Singh has been arrested in connection with the cash-for-vote scam. Delhi court rejected his bail petition and sent him to judicial custody. He can file for regular bail on September 16. Mahavir Bhagora has also been arrested. Earlier, he claimed claimed that h...
Continue Reading... Category : General | Comments : 0 | Hits : 352
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Posted Date : 06-Sep-2011 , 08:27:10 am | Posted By CASANSAAR
Private sector lender Yes Bank today said it has appointed CA.Asit Oberoi as its Senior President and Chief Operating Officer. Oberoi will be responsible for overall operations and service delivery at the bank, according to a bank statement issued here. A chartered accountant, Oberoi has 20 year...
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Posted Date : 06-Sep-2011 , 08:23:09 am | Posted By CASANSAAR
The Supreme Court on Monday issued notice to the central government on a plea challenging the appointment of Atul Kumar Rai as the chief executive officer and managing director of Industrial Finance Corporation of India (IFCI) despite his alleged involvement in "serious corrupt practices". The a...
Continue Reading... Category : Finance | Comments : 0 | Hits : 307
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Posted Date : 06-Sep-2011 , 08:14:46 am | Posted By CASANSAAR
Direct-To-Home (DTH) television subscribers in Delhi will continue to pay more. The Delhi High Court on Monday said the DTH service was like a cinema ticket providing continuous entertainment to viewers and hence, liable to be taxed by the state government. The division bench of Justices...
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Posted Date : 06-Sep-2011 , 08:05:18 am | Posted By CASANSAAR
Switzerland must solve a dispute with the United States over wealthy citizens using secret Swiss accounts to dodge taxes under existing laws and should continue to protect bank secrecy, the Swiss Bankers Association head said on Monday. The association's president, Patrick Odier, made the commen...
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Posted Date : 06-Sep-2011 , 08:01:24 am | Posted By CASANSAAR
The Securities Appellate Tribunal (SAT) on Monday observed that the Securities and Exchange Board of India (Sebi) has wider powers under the Sebi Act to issue directions to even unlisted firms to protect interest of investors in the securities market. The SAT observation came in response to a Sah...
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Posted Date : 05-Sep-2011 , 07:15:39 pm | Posted By CASANSAAR
Parliament on Monday passed a Bill which seeks to transfer powers to the Central Government from the Reserve Bank with regard to SBI subsidiary, State Bank of Hyderabad. The Lok Sabha approved the amendment made by the Rajya Sabha and passed the Bill. Though the Lok Sabha had already passe...
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Posted Date : 05-Sep-2011 , 07:14:02 pm | Posted By CASANSAAR
Out of the 156 posts sanctioned for the Competition Commission of India (CCI) and 41 posts sanctioned for Director General, CCI, 77 and 25 posts, respectively, are lying vacant. Till date, CCI has decided 102 cases, out of total number of 194 cases/information received by it under various secti...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 306
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Posted Date : 05-Sep-2011 , 07:13:20 pm | Posted By CASANSAAR
The Government has not made it compulsory for every company to have a policy for Corporate Social Responsibility (CSR). However, the Department of Public Enterprises has issued comprehensive CSR guidelines for Central Public Sector Enterprises in April, 2010 wherein these enterprises, except those m...
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Posted Date : 05-Sep-2011 , 07:32:59 am | Posted By CASANSAAR
Contesting an Income Tax notice to him over money he owes the government, Team Anna member Arvind Kejriwal has claimed he did not breach any bond norms. However, in a June 2007 letter, he had admitted to having violated the pledge he had signed before proceeding on a two-year study leave from his go...
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Posted Date : 05-Sep-2011 , 07:27:09 am | Posted By CASANSAAR
Recruitment by Indian IT companies witnessed a slowdown in the month of August, owing to the crisis in the US and Europe region, but the overall hiring mood in the country is upbeat, says a survey. It might take 2-3 months for recruitment activities in the IT sector to gain momentum, according to...
Continue Reading... Category : International Business | Comments : 0 | Hits : 290
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Posted Date : 04-Sep-2011 , 04:33:14 pm | Posted By CASANSAAR
Unlike the United Kingdom, India cannot have a treaty with Switzerland under which the deposits of Indians in Swiss banks would be taxed by the European nation, says the Central Board of Direct Taxes (CBDT). "We cannot have such a treaty with Switzerland because the environment is not conducive,"...
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- 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
- GST Important Update - Enhancement in the GST Portal
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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
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- 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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