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Posted Date : 03-Aug-2011 , 09:47:58 pm | Posted By CASANSAAR
The Supreme Court is likely to start the final hearing on the high profile Rs 11,000 crore tax dispute between telecom major Vodafone and the I-T Department tomorrow– a development that corporate India has been keenly watching. A three-judge bench headed by Chief Justice S H Kapadia is expecte...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 363
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Posted Date : 03-Aug-2011 , 09:44:03 pm | Posted By CASANSAAR
Empowered Committee of State Finance Ministers on GST, under its new chief Sushil Modi, will meet on August 19 to discuss various issues related with the roll out of the ambitious indirect tax regime. "The next meeting is on 19th (August). They (panel members) will discuss various issues am...
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Posted Date : 03-Aug-2011 , 05:33:42 pm | Posted By CASANSAAR
The government should end subsidised domestic cooking gas (LPG) for people with income of more than Rs 6 lakh per annum, a Parliamentary Panel has suggested. A 14.2-kg LPG cylinder in Delhi currently costs Rs 395.35. This is Rs 247 short of its market price. If the panel recommendation is accep...
Continue Reading... Category : General | Comments : 0 | Hits : 449
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Posted Date : 03-Aug-2011 , 08:05:19 am | Posted By CASANSAAR
A parliamentary committee has rapped the income tax department for letting the Indian cricket board enrich itself at the expense of the exchequer. In a report placed before the Lok Sabha on Tuesday, the Standing Committee on Finance said the income tax (IT) department had been "very lenient" w...
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Posted Date : 03-Aug-2011 , 08:03:44 am | Posted By CASANSAAR
Gold climbed 210 rupees, to a new all-time record of 23,690 rupees per ten grams at Delhi's bullion market, on Tuesday, on renewed domestic buying, driven by a firm overseas trend. Silver rose 600 rupees, to 58,600 rupees per kilo, on increased buying by speculators and industrial units. Silver coin...
Continue Reading... Category : International Business | Comments : 0 | Hits : 355
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Posted Date : 02-Aug-2011 , 04:01:50 pm | Posted By CASANSAAR
Information technology and IT-enabled service units in special economic zones are going to be allowed the same tax concessions as given to developers of SEZs. The government is to soon issue the new norms, as more and more IT companies don the function of a developer, empowering them to eve...
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Posted Date : 02-Aug-2011 , 03:57:19 pm | Posted By CASANSAAR
5.3 mn e-returns filed till July 31, against 2.2 mn during the period last year. The e-filing of income-tax returns has seen a major rise this year, with a 140 per cent jump in the number of filings till July 31, as compared to the same period in 2010-11. A senior Income Tax Depart...
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Posted Date : 02-Aug-2011 , 07:43:28 am | Posted By CASANSAAR
The Council at its 201st meeting held on 23rd-24th June, 2011, in supersession of its earlier decision which was notified in October, 2008 issue of Chartered Secretary, has decided that with effect from 24th June, 2011, for the purpose of clause (c) of Regulation 48 of the Company Secretaries Regula...
Continue Reading... Category : ICSI | Comments : 0 | Hits : 573
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Posted Date : 01-Aug-2011 , 09:55:45 pm | Posted By CASANSAAR
The Supreme Court today directed accounting regulator ICAI to initiate disciplinary proceedings against Talluri Srinivas, auditor embroiled in the multi-crore Satyam accounting fraud, only after October 3. A bench of Justices D K Jain and A K Ganguly asked the Institute of Chartered Accountants of I...
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Posted Date : 01-Aug-2011 , 09:47:06 pm | Posted By CASANSAAR
Shri M. C. Joshi has taken over as the Chairman, Central Board of Direct Taxes (CBDT) with effect from 1st August 2011. Shri Joshi belongs to the 1974 batch of the Indian Revenue Service (IRS). Earlier, he was THE Chief Commissioner of Income Tax, Uttaranchal, after having served in the Income Tax d...
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Posted Date : 01-Aug-2011 , 09:42:50 pm | Posted By CASANSAAR
Five banks, including Indian Bank, Andhra Bank and Bank of Maharashtra, have raised lending rates by up to 50 basis points in line with other lenders. The hike in interest rates come within a week of the RBI raising its key policy rates by a hefty 50 basis points to check high inflation. With the hi...
Continue Reading... Category : Banking | Comments : 0 | Hits : 489
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Posted Date : 01-Aug-2011 , 04:45:35 pm | Posted By CASANSAAR
Chances are the authorities would immediately go after you if you refuse to pay taxes. But if you are Indian Railways, they could choose to look the other way. Well, that's what has been happening with the Indian Railways which has not paid service tax on catering and advertising for years, despite ...
Continue Reading... Category : Service Tax | Comments : 1 | Hits : 531
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Posted Date : 01-Aug-2011 , 04:38:58 pm | Posted By CASANSAAR
The Commerce Secretary, Shri Rahul Khullar has said that India and Japan Comprehensive Economic Partnership Agreement (CEPA) is a major step in the direction of larger vision of an East Asia partnership. He was speaking after co-Charing the first meeting of Joint Committee of India Japan CEPA with M...
Continue Reading... Category : International Business | Comments : 0 | Hits : 418
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Posted Date : 01-Aug-2011 , 04:36:44 pm | Posted By CASANSAAR
Sh. Naved Masood, IAS (UP:77) has taken over as new Secretary in the Ministry of Corporate Affairs here today. Prior to it he was Special Secretary and Financial Advisor, Department of Health and Family Welfare in the Ministry of Health and Family Welfare. Sh. Masood replaces Sh. D.K.Mittal IAS (UP:...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 568
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Posted Date : 01-Aug-2011 , 03:31:56 pm | Posted By CASANSAAR
HSBC will shed 30,000 jobs as it retreats from countries where it is struggling to compete, Europe's biggest bank said on Monday after it reported a surprise rise in first-half profit. Shares in HSBC rose over 4 percent after it unveiled first-half pretax profits of $11.5 billion, up from $11.1...
Continue Reading... Category : International Business | Comments : 1 | Hits : 474
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Posted Date : 01-Aug-2011 , 11:37:59 am | Posted By CASANSAAR
With an aim to rein in insider trading by promoters without investors' knowledge, Sebi has decided to make it mandatory for all promoter entities to disclose any considerable purchase or sale of shares by them. The decision would remove a major anomaly from the Sebi's insider trading prohib...
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Posted Date : 01-Aug-2011 , 07:38:35 am | Posted By CASANSAAR
With an aim to check flow ofblack money and evasion of taxes through stock market, market regulatorSebi has decided to imposehefty penalty on brokers facilitating such transactions from tomorrow. The regulator recently came across a loophole in its existing regulations, which was being abused by sto...
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Posted Date : 01-Aug-2011 , 07:34:44 am | Posted By CASANSAAR
The committee will consider proposing a reward scheme for informants who supply information about such tax defaulters and which results into collection of the outstanding demands. The other point in the terms of reference is to propose a scheme regulating such outsourcing to outside agencie...
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Posted Date : 01-Aug-2011 , 07:32:42 am | Posted By CASANSAAR
PresidentBarack Obama and congressional leaders began a fresh attempt to reach agreement on raising the US debt cap, with a potential framework for a deal emerging two days before a threatened default deadline. The White House and congressional Republicans have sketched out the contours of an agreem...
Continue Reading... Category : General | Comments : 0 | Hits : 264
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Posted Date : 30-Jul-2011 , 10:25:56 pm | Posted By CASANSAAR
TheRBI today imposed apenalty of Rs 5 lakh on city-basedKalupur Commercial Co-operative Bank (KCCB) for its non-adherence to mandatorybanking rules, an official statement said. A penalty of Rs 5 lakh has been imposed on KCCB for violation related to Know Your Customer(KYC) norms, membership to ...
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Posted Date : 30-Jul-2011 , 10:03:36 pm | Posted By CASANSAAR
Details of assets and payments received by Indian citizens in several countries have "started flowing in" and are being investigated, Finance MinisterPranab Mukherjee disclosed on Saturday. Information about wealth stashed away in Swiss banks by Indians is expected by the government before the end o...
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Posted Date : 30-Jul-2011 , 09:02:16 pm | Posted By CASANSAAR
The next Professional Competence Examination (PCE), Integrated Professional Competence Examination (IPCE) and Final Examinations of the Institute will be held from 1st November to 17th November 2011. Notification and detailed announcement thereon have already been hosted on ICAI website www.ica...
Continue Reading... Category : Students Zone | Comments : 0 | Hits : 1635
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Posted Date : 30-Jul-2011 , 03:35:37 pm | Posted By CASANSAAR
The Reserve Bank of India will soon put into circulation new series ofcoins of Rs two and Rs five denominations. AnRBI press release said The Rs two coin would have on the obverse side, the lion capitol of Ashoka Pillar with the legend 'Satyameva Jayathe' (in Hindi) flanked on the left peripher...
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Posted Date : 30-Jul-2011 , 07:26:40 am | Posted By CASANSAAR
Institute of Charted Accountants of India, ICAI appeal ed the government to amend the Income Tax Act in order to empower Accountants to examine foreign bank accounts closely in black money cases. Briefing reporters in New Delhi on Friday G Ramaswamy, President of ICAI said that an empowered group ha...
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Posted Date : 30-Jul-2011 , 07:25:11 am | Posted By CASANSAAR
The results of the Chartered Accountants Professional Competence and Integrated Professional Competence Examinations held in May, 2011 are likely to be declared tentatively on Monday, the 8th August, 2011 around 2 P.M. and the same as well as the merit list (candidates securing a minimum of 55% and ...
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Posted Date : 30-Jul-2011 , 07:16:13 am | Posted By CASANSAAR
The Ministry of corporate Affairs has today released the Draft National Competition Policy for India for discussion among the masses and create awareness in this regard. The Policy is as under: National Competition Policy Statement of the Government of India Click here to see more...
Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 297
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Posted Date : 30-Jul-2011 , 07:12:11 am | Posted By CASANSAAR
The government’s committee on unaccounted (‘black’) money met on Friday to discuss changes in existing legislation to address the issue. It discussed the responses the government had got till date from the general public on the problem. The panel is chaired by Prakash Chan...
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Posted Date : 29-Jul-2011 , 05:20:44 pm | Posted By CASANSAAR
Government has said people who are not satisfied with the Lok Pal Bill approved by Cabinet can approach the Standing Committee of Parliament and persuade it to make changes. HRD Minister Kapil Sibal, who was part of the joint committee to draft the Bill, said the government had already take...
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Posted Date : 29-Jul-2011 , 03:50:54 pm | Posted By CASANSAAR
While allowing mutual funds to charge a fresh transaction fee from investors, market regulator Sebi has also asked them to bring about more transparency in their dealings with investors and agents. The regulator, at its board meeting last evening, agreed to the MFs' long-pending demand to i...
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Posted Date : 29-Jul-2011 , 08:36:48 am | Posted By CASANSAAR
Heralding a new set of rules for takeover of companies, the Security Exchanges Board of India (SEBI) on Thursday said an entity buying 25 per cent stake in a listed firm will have to mandatorily make an offer to buy additional 26 per cent from public shareholders. The new norms mark an incr...
Continue Reading... Category : SEBI | Comments : 1 | Hits : 595
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- NFRA Imposes Monetary penalty of Rs 1 Crore on M/s Dhiraj & Dheeraj
- ICAI notifies earlier announced CA exam dates despite pending legal challenge before SC
- NFRA debars Auditors, imposes Rs 50 lakh penalties for lapses in Brightcom, CMIL cases
- GST Important Update - Enhancement in the GST Portal
- NFRA Slaps Rs 5 lakh Penalty on Audit Firm for lapses in Vikas WSP Audit Case
- 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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