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Women presence rising on companies' boards: Study
Posted Date : 14-Mar-2012 , 08:13:07 am | Posted By CASANSAAR

In an indication of growing women presence in the corporate corridors, an average of nine out of every ten large companies have now got at least one female director, a study said today. As per an annual study of women presence on the company boards, 89 out of the top 100 companies in the UK have ...

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Category : Corporate Law | Comments : 0 | Hits : 159

PwC India dressed up books to show profits
Posted Date : 14-Mar-2012 , 08:11:17 am | Posted By CASANSAAR

  Serious violations of accounting principles as well as major financial irregularities have been detected in several entities of PricewaterhouseCoopers India (PwC India), which would seem to indicate that the company has been wrongfully dressing up its own books and those of its network au...

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Category : Auditing | Comments : 0 | Hits : 732

12 persons account for 90% of total income tax dues
Posted Date : 14-Mar-2012 , 08:09:17 am | Posted By CASANSAAR

The finance ministry today said income tax dues from 12 individuals, including stud-farm owner Hasan Ali Khan, account for 90 per cent of the total income tax outstanding. "The amount of outstanding income tax dues is a dynamic figure. As on September 30, 2010, about 90 per cent of the outstandi...

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Category : Income Tax | Comments : 0 | Hits : 438

ICAI to release White Paper on agriculture costing
Posted Date : 14-Mar-2012 , 08:08:32 am | Posted By CASANSAAR

The Institute of Cost Accountants of India (ICAI) will release the White Paper on Agricultural Costing and Pricing methods on Thursday. The release, first on the subject by ICAI, will be made at the 3-day 'National Cost Convention' beginning here on March 15, said an official. "The government has...

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Category : ICWAI | Comments : 0 | Hits : 234

Budget 2012: Direct Tax Code: Par panel report on DTC tabled in LS
Posted Date : 14-Mar-2012 , 07:57:39 am | Posted By CASANSAAR

The Parliamentary panel on Direct Taxes Code in its report tabled in Lok Sabha today has suggested raising the income tax exemption limit to Rs 3 lakh. The report of Standing Committee on Finance, which scrutinised the Direct Taxes Code (DTC) Bill, will pave the way for discussions and adoption of...

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Category : Budget | Comments : 0 | Hits : 335

Company Law Board asks Unitech to buy out Telenor's stake or exit JV
Posted Date : 14-Mar-2012 , 07:56:21 am | Posted By CASANSAAR

The Company Law Board, a quasi-judicial body that rules on corporate matters, on Tuesday directed Unitech Wireless to decide by March 19 if it wants to buy out the 67.25% stake held by Norway's Telenor, or exit their joint venture. "You (Unitech) are given priority, whether you want to buy or se...

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Category : Corporate Law | Comments : 0 | Hits : 132

Press Release - ICAI (The Institute of Cost Accountants of India)
Posted Date : 13-Mar-2012 , 07:17:19 pm | Posted By CASANSAAR

  PRESS RELEASE March 10, 2012   Standing Committee on Finance recommends widening the scope of the definition of ‘accountant”. Mr. M.Gopalakrishnan, President of The Institute of Cost Accountants of India, announced, that the cost and management accounting p...

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Category : ICWAI | Comments : 0 | Hits : 588

Fund inflow in audit companies like PwC and Lovelock & Lewes against FDI norms
Posted Date : 13-Mar-2012 , 08:17:48 am | Posted By CASANSAAR

The inflow of funds from Pricewaterhouse-Coopers Services BV, Netherlands, was first shown as 'reimbursement of expenses' - including in representation made to banks - but later invoiced as 'support' and finally as 'grant'. Surprisingly, the books of accounts classified this as 'sundry income' , ...

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Category : ICAI | Comments : 0 | Hits : 255

Third extension to CBDT panel on black money
Posted Date : 13-Mar-2012 , 08:13:22 am | Posted By CASANSAAR

The CBDT Chairman-led committee on combating the menace of black money has been given yet another extension and it is now expected to submit its final report by this month end. It is the third time that the deadline has been extended for the panel, which was constituted in May last year. With the...

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Category : Income Tax | Comments : 0 | Hits : 280

India set for high growth trajectory: Govt
Posted Date : 12-Mar-2012 , 09:31:55 pm | Posted By CASANSAAR

The government is confident that it will soon steer the country back to the high growth trajectory of eight to nine percent. Addressing joint Session of Parliament, the President Mrs. Pratibha Devisingh Patil said that the country's economy grew at a handsome rate of 8.4 percent in 2010-11, but it h...

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Category : General | Comments : 0 | Hits : 151

Govt committed to pass Lokpal Bill to curb corruption: Bansal
Posted Date : 12-Mar-2012 , 09:30:29 pm | Posted By CASANSAAR

The Parliamentary Affairs Minister Pawan Kumar Bansal has said that the government is committed to pass an effective and powerful Lokpal Bill to curb corruption in the society. Replying to questions at a press conference in New Delhi today, Mr Bansal said, the government wants to pass the Bill durin...

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Category : General | Comments : 0 | Hits : 151

Annual Function & Winners of CASANSAAR 20-20 Chess Tournament
Posted Date : 12-Mar-2012 , 10:57:39 am | Posted By CASANSAAR

The second annual award function of casansaar duly held on 11th of March, 2012 at the Instittute of Engineering was really successful. The honorable chief guest of the ceremony was CA Ved Jain ji. The function was hosted by CA Lavina Bajaj.   CA Vivek Khurana founder and CEO of casansaar.co...

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Category : General | Comments : 0 | Hits : 603

Fund inflow in audit cos against FDI norms
Posted Date : 12-Mar-2012 , 09:29:05 am | Posted By CASANSAAR

Serious violations of accounting principles as well as major financial irregularities have been detected in several entities of PricewaterouseCoopers India (PwC India), which would seem to indicate that the company has been wrongfully dressing up its own books and those of its network audit firms ...

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Category : Auditing | Comments : 0 | Hits : 318

Budget session of Parliament begins today
Posted Date : 12-Mar-2012 , 08:56:43 am | Posted By CASANSAAR

The Budget session of Parliament begins today. It will commence with President Pratibha Devisingh Patil's customary address to the joint sitting of the Lok Sabha and the Rajya Sabha.The first part of the session will conclude on the 30th of this month and the second phase will start from the 24th of...

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Category : Income Tax | Comments : 0 | Hits : 282

Improve customer service to stay relevant in financial market: FM to PSBs
Posted Date : 12-Mar-2012 , 08:53:01 am | Posted By CASANSAAR

Finance Minister Pranab Mukherjee asked Public Sector Banks, PSBs to improve customer service to stay relevant in the competitive financial market. Mr. Mukherjee said this while addressing at the golden jubille celebration of State Bank Staff College in Gurgaon. He said that banking is predominately...

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Category : Banking | Comments : 0 | Hits : 203

FDI rises 31% to 27.5 billion US Dollars last year
Posted Date : 12-Mar-2012 , 08:52:13 am | Posted By CASANSAAR

Foreign direct investment, FDI, in India went up by 31 per cent to 27.5 billion US Dollars last year, notwithstanding uncertain economic environment globally. FDI inflows in 2010 totalled USD 21 billion. According to the Industry Ministry's latest data, the sectors that attracted maximum FDI la...

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Category : Finance | Comments : 0 | Hits : 187

RBI cuts CRR by 75 bps to 4.75%
Posted Date : 10-Mar-2012 , 08:05:47 am | Posted By CASANSAAR

The Reserve Bank of India cut the cash reserve ratio, the share of deposits that banks must hold with it, by 75 basis points to 4.75 percent after the close of local markets. The sharp and accelerated CRR cut upset conventional market wisdom that the RBI's mid-quarter policy review scheduled for ...

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Category : RBI | Comments : 0 | Hits : 431

Indirect Tax Revenue Collections During April, 2011 February, 2012 Rises to Rs.3,48,702 Crore
Posted Date : 10-Mar-2012 , 07:59:50 am | Posted By CASANSAAR

Indirect tax revenue collections during the month of February, 2012 rose to Rs. 31,469 Crore, an increase of 9.6 percent over the corresponding period of last financial year. Overall indirect tax collections during the period April, 2011 to February, 2012 rose to Rs 3,48,702 Crore. Last year the i...

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Category : Excise | Comments : 0 | Hits : 320

Time for filing form DIN-4 by DIN holders for furnishing PAN and to update PAN details extended
Posted Date : 10-Mar-2012 , 07:58:41 am | Posted By CASANSAAR

The Ministry of Corporate Affairs has extended the time for filing form DIN-4 by DIN holders for furnishing PAN and to update PAN details upto 30.04.2012 for the Allotment of Director’s Identification Number (DIN) under Companies Act, 1956. Earlier this date was extended on 15/12/2011. Al...

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Category : Corporate Law | Comments : 0 | Hits : 350

Rahul Dravid announces retirement from international cricket
Posted Date : 09-Mar-2012 , 12:49:43 pm | Posted By CASANSAAR

Rahul Dravid, Test cricket’s most successful number three batsman, announced his retirement on Friday. 'The Wall' addressed the media at his home ground, the Chinnaswamy Stadium in Bangalore, bringing the curtain down on an international career that spanned 16 years. India’s 0-4 Test w...

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Category : General | Comments : 0 | Hits : 342

Newly Wed Gurgaon Chartered Accountant, Designer Wife Found Dead In Agra
Posted Date : 09-Mar-2012 , 08:42:35 am | Posted By CASANSAAR

Puneet Gupta, a chartered accountant working in Gurgaon, alongwith his fashion designer wife Varsha had gone to celebrate Holi  in Agra at Punit's father's home in Kunwar colony, but were found dead in mysterious circumstances. After celebrating Holi, the two went to have a bath in the washr...

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Category : ICAI | Comments : 1 | Hits : 1164

RBI may soon do away with branch audit of PSU banks: Srcs
Posted Date : 07-Mar-2012 , 07:29:54 pm | Posted By CASANSAAR

RBI may soon do away with branch audits; to save public sector banks hundreds of crores, reports CNBC-18's Gopika Gopakumar quoting sources. Most PSU banks have two kinds of auditors, statutory central auditors and statutory branch auditors. Statutory central auditors for most banks are around 6 ...

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Category : Auditing | Comments : 1 | Hits : 2851

Role-Check for the Digital Signatures (DSCS) belonging to Authorized Signatories of Banks/FIs
Posted Date : 07-Mar-2012 , 06:23:52 pm | Posted By CASANSAAR

The Ministry of Corporate Affairs has requested all Banks and Financial Institutions to follow the role-check process devised and published for the digital signatures (DSCs) belonging to authorized signatories of Banks/FIsrecently in its e-Governance project MCA21. In a circular issued recently by t...

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Category : Corporate Law | Comments : 0 | Hits : 229

RBI raises bank rate to 9.5% for Urban Co-op Banks
Posted Date : 07-Mar-2012 , 06:23:14 pm | Posted By CASANSAAR

The Reserve Bank has hiked bank rate for Primary (urban) Co-operative Banks by 3.5 per cent to 9.5 per cent with effective from February 13, 2012. ”...it is determined that the bank rate should normally stay aligned to the MSF (marginal standing facility) rate. “Accordingly, it has b...

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Category : Banking | Comments : 0 | Hits : 208

Filing of Conflicting Returns by Contesting Parties Clarification Regarding
Posted Date : 07-Mar-2012 , 07:56:37 am | Posted By CASANSAAR

The Ministry of Corporate Affairs has clarified that Circular No. 19 and 20 of 2011 issued on 02.05.2011 that were issued for laying down certain procedure to regulate cases wherein filing of conflicting returns with regard to appointment of Directors or change of Director/Directors have now been su...

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Category : Corporate Law | Comments : 0 | Hits : 275

E&Y to dissociate from its audit functions in India
Posted Date : 07-Mar-2012 , 07:54:45 am | Posted By CASANSAAR

Ernst & Young, one of the four big global audit firms, is taking steps to dissociate its brand from its audit function in India. The move is seen as an after-effect of the ICAI's recommendations on multi national accounting firms, which called for audit firms to not provide non-audit service...

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Category : Auditing | Comments : 1 | Hits : 1249

Assembly Elections 2012 - RESULTS / UPDATES
Posted Date : 06-Mar-2012 , 10:59:22 am | Posted By CASANSAAR

Uttar Pradesh(403) Punjab(117) Party Win Lead BSP 79 01 Cong 28 0 RLD 09 - BJP 47 - Others 15 - SP 224 - Alliances: [Cong + RJD], [BJP + Samajwadi] Party Win Lead Cong 46 - SAD...

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Category : General | Comments : 0 | Hits : 876

ICAI Announcement - Regarding Bank Branch Audit related matters.
Posted Date : 06-Mar-2012 , 08:04:12 am | Posted By CASANSAAR

For Information of MembersAnnouncement[Regarding Bank Branch Audit related matters] The office bearers and Council Members of the Institute have been in receipt of a representation from various members in regard to certain issues concerning the profession and in particular re: matters...

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Category : ICAI | Comments : 0 | Hits : 1872

CNG price raised by up to Rs 1.90/kg in Delhi, adjoining areas
Posted Date : 06-Mar-2012 , 08:03:25 am | Posted By CASANSAAR

CNG price in the national capital and adjoining towns has been increased by up to Rs 1.90 per kg, as costlier LNG was being imported to make up for fall in output from Reliance Industries gas field. Compressed natural gas in Delhi will cost Rs 1.70 per kg more at Rs 35.45 per kg with effect from...

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Category : General | Comments : 0 | Hits : 177

Sebi to review rules after assessing auction window experience
Posted Date : 06-Mar-2012 , 07:59:28 am | Posted By CASANSAAR

The Securities and Exchange Board of India, or Sebi, will assess the experience of issuance of shares by private firms on the newly-introduced auction window before carrying out any review of the rules after last week's share sales by the state-run ONGC. The sale of 5% of ONGC shares was the ...

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Category : SEBI | Comments : 0 | Hits : 192

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