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  • High newsprint prices likely to hit Indian print media margins
    Posted Date : 11-Jul-2011 , 03:39:32 pm | Posted By CASANSAAR

    Increasing newsprint prices are likely to have a negative impact on profitability of the Indian print media industry in the short to medium term, according to a Fitch report.   The report expects that an increase in advertising revenues may partly offset the rising cost of newsprint. Newspape...

    Continue Reading... Category : General | Comments : 0 | Hits : 535

  • Immovable property deals without PAN on income tax radar
    Posted Date : 11-Jul-2011 , 12:11:36 pm | Posted By CASANSAAR

    Empowered CIB to play lead role in recovering tax evaded.   Third-party information related to high-value transactions in immovable properties would be one of the focus areas of the Income Tax (I-T) Department this year, for tracking tax evasion and generating additional tax revenues.  ...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 731

  • I-T Dept looks into Videocon-Datacom deal tax implications
    Posted Date : 10-Jul-2011 , 10:18:01 pm | Posted By CASANSAAR

    After Swan and Unitech Wireless, the Income Tax Department is looking into the tax implications of a deal between Datacom solutions and the Videocon Group after the former was allotted 2G licences in 21 circles for Rs 1,507 crore in 2008. In a complex structure, Videocon Telecommunications was origi...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 427

  • RBI fines 48 banks for violation of KYC, AML norms in six months
    Posted Date : 10-Jul-2011 , 10:12:53 pm | Posted By CASANSAAR

    At a time when the government is grappling with the black money menace, the RBI has penalised as many as 48 small banks in just six months, for lapses in implementing customer identification norms and various other violations. In the first six months of 2011, the apex bank has slapped penalties on 4...

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  • Recent Initiatives taken by the Ministry of Corporate Affairs
    Posted Date : 10-Jul-2011 , 09:20:12 am | Posted By CASANSAAR

    The Indian economy has expanded at a rapid rate during the current decade and the corporate sector has been the biggest contributor in this growth story.  A significant feature of this growth is the increasing integration of the Indian corporate economy into the global business environment.&n...

    Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 477

  • Now e-ticketing through SMS instead of normal print-outs.
    Posted Date : 10-Jul-2011 , 08:34:24 am | Posted By CASANSAAR

    Now railway passengers can get their e-tickets on their cell phones instead of normal print-outs.   Named as 'm-ticket', the mobile phone-based ticket booking system envisages a passenger to book his train ticket through mobile phones and carry the display ticket, sent to his cell phone throu...

    Continue Reading... Category : Income Tax | Comments : 1 | Hits : 1235

  • 80,000 companies in Northern India are 'defaulters': MCA
    Posted Date : 09-Jul-2011 , 06:58:33 pm | Posted By CASANSAAR

    Asserting that Companies that have not filed annual returns and balance sheet to Ministry of Corporate Affairs (MCA) for past five years have been put on notice, a senior official of MCA today said there were 80,000 such companies in Northern India. "About 80000 defaulters (defaulting companies) are...

    Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 2552

  • Announcement by ICAI for Review of Entry Requirements for Chartered Accountancy Courses
    Posted Date : 09-Jul-2011 , 02:33:02 pm | Posted By CASANSAAR

    ANNOUNCEMENT  8th July, 2011 Review of Entry Requirements for Chartered Accountancy Courses The Council at its 306th meeting held from 7th to 9th June, 2011 had considered the recommendations of the Group Constituted by the President, in terms of the authority given to him at its 3...

    Continue Reading... Category : Students Zone | Comments : 2 | Hits : 5598

  • Finance Minister Releases New Series of Coins in the Denomination of 50 Paise and Rupees 1,2,5 And 10
    Posted Date : 09-Jul-2011 , 12:30:39 pm | Posted By CASANSAAR

    The Finance Minister Shri Pranab Mukherjee on 8th July 2011  released a new series of coins with improved design and revised size in the denomination of 50 paise, Rs. 1, 2, 5, and 10. Speaking on the occasion, Shri Mukherjee said that new coins will not only reduce the cost of moving materials ...

    Continue Reading... Category : General | Comments : 1 | Hits : 580

  • NTPC to receive Rs 10,000-crore loan from SBI: The Highest loan ever by SBI
    Posted Date : 09-Jul-2011 , 12:26:41 pm | Posted By CASANSAAR

    tate-run power producer NTPC today said it had signed a loan agreement of Rs 10,000 crore with State Bank of India for financing its new as well as ongoing projects. The loan amount would be the largest extended by SBI to any Indian or foreign company.   For the current financial year, NTPC h...

    Continue Reading... Category : Finance | Comments : 0 | Hits : 476

  • CBI arrests an Income Tax Officer and a Chartered Accountant in a bribery case
    Posted Date : 09-Jul-2011 , 07:57:30 am | Posted By CASANSAAR

    The Central Bureau of Investigation has arrested an Income Tax Officer and a Chartered Accountant, both of Aurangabad for demanding and accepting a bribe of Rs.15,000/- from the complainant.   A complaint was received at CBI, ACB, Pune from the complainant against the ITO Ward (1)(2), Auranga...

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  • FM asks public lenders to arrest rising NPAs
    Posted Date : 09-Jul-2011 , 07:53:00 am | Posted By CASANSAAR

    finance minister Pranab Mukherjee has cautioned all state run banks and financial institutions on the downward trend of asset quality. "They (banks) should to exert themselves to devise suitable strategies for containing and rolling back non performing assets," he said. Muk-herjee on Friday, took th...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 536

  • 2G scam: ED slaps Rs 7,258 cr penalty on Etisalat DB for FDI norms violation
    Posted Date : 09-Jul-2011 , 07:46:49 am | Posted By CASANSAAR

    The Enforcement Directorate has issued showcause notices, under Foreign Exchange Management Act, to Etisalat DB Telecom and its five directors, including Shahid Usman Balwa and Vinod Goenka for alleged violations of FDI norms in the telecom sector. Besides Balwa and Goenka, copromoters of Swan Telec...

    Continue Reading... Category : Finance | Comments : 0 | Hits : 426

  • Irda slaps Rs 70 lakh fine on SBI Life
    Posted Date : 08-Jul-2011 , 10:01:31 pm | Posted By CASANSAAR

    Insurance regulator Irda today imposed a fine of Rs 70 lakh on SBI Life Insurance for paying excess commission to the agents in violation of the group insurance guidelines. "Considering the gross and continued nature of the violations, the Authority has come to the conclusion that it is just and pr...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 446

  • RBI slaps fine on Kolhapur bank for violating KYC norms
    Posted Date : 08-Jul-2011 , 09:55:25 pm | Posted By CASANSAAR

    he Reserve Bank today imposed a penalty Rs 5 lakh on Kolhapur District Central Co-operative Bank for violation of guidelines related to Know Your Customers (KYC) norms and Anti Money Laundering standards. "The RBI has imposed a monetary penalty of Rs 5 lakh on Kolhapur District Central Co-operative...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 411

  • SBI denies funding to realty projects in disputed areas
    Posted Date : 08-Jul-2011 , 09:52:46 pm | Posted By CASANSAAR

    Adopting a cautious approach in the wake of Supreme Court asking the U P government to return land to original owners, country's largest lender SBI today said it will not finance real estate projects which are mired in disputes over acquisition of land. "...If in a particular area where there has b...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 458

  • Mumbai, New Delhi among 5 cheapest places in world
    Posted Date : 08-Jul-2011 , 09:38:36 pm | Posted By CASANSAAR

    Government may be finding it difficult to battle soaring inflation in the country, but a global survey has found two key Indian cities -- Mumbai and New Delhi -- to be amongst the five cheapest places to live. In a Worldwide Cost of Living Survey , India's financial capital Mumbai has been rank...

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  • Companies will have to disclose CSR contributions: MCA
    Posted Date : 08-Jul-2011 , 07:17:57 pm | Posted By CASANSAAR

    The government today said it would be mandatory for corporates to disclose to shareholders whether they have made a contribution of 2% of net profit toward corporate social responsibility activities.   "We have made it mandatory for all corporates to disclose (CSR spend of 2% to shareholde...

    Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 524

  • SC declines Sahara plea to issue notice to govt on OFCD issue
    Posted Date : 08-Jul-2011 , 04:42:21 pm | Posted By CASANSAAR

    The Supreme Court today declined the Sahara Group's plea to issue a notice to the government in connection to a dispute with market regulator Sebi, which had directed the firm to return funds raised from investors under an OFCD scheme along with 15% interest.   "We do not want Union of India ...

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  • Govt may challenge SIT probing black money
    Posted Date : 08-Jul-2011 , 03:48:14 pm | Posted By CASANSAAR

    The Government is exploring legal options on the Supreme court order to set up a Special Investigation Team (SIT) on black money. Sources have told CNN-IBN that the Government is considering seeking a review of the Supreme Court order but no decision has been taken yet. Criticising the Government f...

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  • SBI to seek govt nod for rights issue this month
    Posted Date : 08-Jul-2011 , 12:14:16 pm | Posted By CASANSAAR

    The State Bank of India (SBI) on Thursday said it would soon seek government approval for its Rs 20,000-crore rights issue. The bank will give a revised proposal to the finance ministry this month.   “The draft proposal is with us. We are going to submit it this month to the ministry,&r...

    Continue Reading... Category : Corporate Law | Comments : 0 | Hits : 520

  • ICAI to suggest ways to deal with black money
    Posted Date : 08-Jul-2011 , 07:37:08 am | Posted By CASANSAAR

    As the heat turns on the government on the issue of black money, the Institute of Chartered Accountants of India (ICAI) on Thursday said it would suggest to the finance ministry ways to track and control illicit money.   A committee, consisting of nine members of ICAI’s central council ...

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  • SC gives two weeks relief to Satyam in tax case
    Posted Date : 08-Jul-2011 , 07:30:39 am | Posted By CASANSAAR

    The Supreme Court on Thursday directed that the order of the Central Board of Direct taxes (CBDT) with regard to its multi crore tax demand from Mahindra Satyam Computer will not come into effect for two weeks.   The order of the Apex Court headed by Chief Justice of India SH Kapadia, Justice...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 538

  • Direct tax collection in Q1 up 24 percent
    Posted Date : 08-Jul-2011 , 07:27:39 am | Posted By CASANSAAR

    The country's direct tax collection has increased almost 24 percent in the first quarter of the current fiscal year and stood at Rs.104,136 crore as compared to Rs.84,041 crore in the like period of last fiscal, official data showed on Thursday. According to the figures released by the finance minis...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 461

  • SC to hear Sahara plea against SEBI order tomorrow
    Posted Date : 07-Jul-2011 , 09:04:17 pm | Posted By CASANSAAR

    The Supreme Court will tomorrow hear the Sahara group firm''s plea against the SEBI order to return the money, along with 15 per cent interest, collected from investors through its Optionally Fully Convertible Debentures (OFCD) scheme.   The plea would be heard by a three-member bench headed ...

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  • FM to review performance of public sector banks next month
    Posted Date : 07-Jul-2011 , 05:07:48 pm | Posted By CASANSAAR

    Finance Minister Pranab Mukherjee will review the performance of all public sector banks next month after the release of financial numbers by the lenders for 2010-11 financial year.   "We will have a review next month with the Finance Minister ... may be towards the end of May," Department...

    Continue Reading... Category : Banking | Comments : 0 | Hits : 430

  • Bharti Airtel to re-structure operations in India and South Asia
    Posted Date : 07-Jul-2011 , 04:36:35 pm | Posted By CASANSAAR

    Bharti Airtel said on Thursday it would have a new organisation structure for its operations in India and South Asia, effective Aug. 1, to improve efficiency. Mobile, fixed-line, digital TV and other consumer businesses such as mobile commerce will be part of the business to customer (B2C) unit...

    Continue Reading... Category : Merger & Acquisitions | Comments : 0 | Hits : 357

  • Union Textiles Minister Dayanidhi Maran quits
    Posted Date : 07-Jul-2011 , 03:03:01 pm | Posted By CASANSAAR

    Textiles Minister Dayanidhi Maran has submitted his resignation to Prime Minister Manmohan Singh, informed sources said Thursday, a day after the CBI alleged that he forced telecom promoter C. Sivasankaran to sell his Aircel stake to the Maxis group considered close to his family.   The DMK l...

    Continue Reading... Category : General | Comments : 0 | Hits : 466

  • DGCA busts fake flying school in Delhi
    Posted Date : 07-Jul-2011 , 12:51:16 pm | Posted By CASANSAAR

    A fake flying school has been busted by the Directorate General of Civil Aviation (DGCA) in the capital. One person was arrested and an FIR was filed by the Delhi police in this regard. The action was taken after the DGCA received a complaint on fake flying school. The pilot training institute was ...

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  • SEZ sales by realtors under I-T scanner
    Posted Date : 07-Jul-2011 , 12:50:34 pm | Posted By CASANSAAR

    Smelling the possibility of major tax evasion and routing of unaccounted income, the income tax department has started re-opening cases pertaining to the sale of sites in Special Economic Zones (SEZs) by developers, especially to associated entities. A senior I-T department official associated with...

    Continue Reading... Category : Income Tax | Comments : 0 | Hits : 318

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