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Enough CAs under ICAI to Meet Global Requirements
Posted Date : 15-May-2012 , 08:51:35 am | Posted By CASANSAAR

There is no shortage of Chartered Accountants in the country to meet the Global challenges. As on 1st May, 2012, 1,93,500 Chartered Accountants (CAs) were registered with the Institute of Chartered Accountants of India (ICAI). The ICAI, a statutory body established by an Act of Parliament ...

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Category : ICAI | Comments : 0 | Hits : 2187

Company Secretary clarifies on his e-mail for 2 firms
Posted Date : 15-May-2012 , 08:49:34 am | Posted By CASANSAAR

A Company Secretary here has clarified that he had filed returns of two companies, over which questions were raised in Parliament, to the Registrar of Companies under his e-mail id for his administrative convenience. “I am a qualified practising Company Secretary. As a practising Company Se...

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Category : Corporate Law | Comments : 0 | Hits : 709

Integration of LLP System into MCA-21
Posted Date : 15-May-2012 , 08:47:12 am | Posted By CASANSAAR

Draft of notice to be displayed on LLP website  Ministry of Corporate Affairs NOTICE 1. The Ministry is in process of integration of LLP system into MCA-21 in the month of june 2012 by allowing filing & approval of LLP forms at MCA-21 website (www.mca.gov.in) for be...

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Category : Corporate Law | Comments : 0 | Hits : 382

23 tax tribunal members under CBI scanner for ‘fixing’ verdicts
Posted Date : 15-May-2012 , 08:44:16 am | Posted By CASANSAAR

An estimated 69 orders passed by as many as 23 members of various benches of the Income Tax Appellate Tribunal (ITAT) are now the subject matter of an unprecedented nationwide inquiry for alleged corruption by the Central Bureau of Investigation (CBI). The ITAT, a quasi-judicial body, is the high...

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Category : Income Tax | Comments : 0 | Hits : 263

Download ITR-1, ITR-2, ITR-3 & ITR-4 Return Preparation Software
Posted Date : 14-May-2012 , 09:51:08 pm | Posted By CASANSAAR

The online submission of ITR-1 (SAHAJ) & ITR-4S (SUGAM) for AY 2012-13 has been enabled. Download Return Preparation Software Sl. No. Form Name Return Preparation Software Remarks System Requirements 1  ITR-1(SAHAJ) Excel Utility(Version 1.0) New Releas...

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Category : Income Tax | Comments : 0 | Hits : 1728

Khullar appointed new Trai chairman
Posted Date : 14-May-2012 , 04:05:13 pm | Posted By CASANSAAR

Commerce Secretary Rahul Khullar has been appointed as the new chairman of the Telecom Regulatory Authority of India (Trai) for a three-year term. Khullar, a 1975 batch IAS officer of Delhi cadre, will succeed J S Sarma, whose tenure ended today. The tenure of Khullar, who w...

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Category : General | Comments : 0 | Hits : 279

ISA AT - June, 2012 Application Form
Posted Date : 14-May-2012 , 02:19:11 pm | Posted By CASANSAAR

ISA AT - June, 2012 Application Form Last Date : 1st June 2012. Cost of Application form : Rs. 100. Click here to Download the AT Form  ...

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Category : ICAI | Comments : 0 | Hits : 468

Money-laundering law: Rigorous jail, hefty fines await tax offenders
Posted Date : 14-May-2012 , 07:38:23 am | Posted By CASANSAAR

Tax evaders could be in for trouble as the government is mulling placing tax crimes on a par with money laundering offences that have severe criminal and financial implications.India could bring income-tax offences under its anti-money laundering law, making way for easier prosecution, rigorous ...

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Category : Income Tax | Comments : 0 | Hits : 349

Over 15,000 trained company secretaries will be needed in future: ICSI
Posted Date : 14-May-2012 , 07:34:52 am | Posted By CASANSAAR

Institute of Company Secretaries of India (ICSI) believes that in the next five years, more than 15,000 trained CS will be required in the country.   "The Parliamentary Standing Committee on Finance is likely to table its report on the proposed amendments to the Companies Bill sometime n...

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Category : ICSI | Comments : 0 | Hits : 727

FinMin examining CBDT committee report on Black Money
Posted Date : 13-May-2012 , 01:04:07 pm | Posted By CASANSAAR

 Nearly ten months after it was formed to examine ways to check the menace of black money, a committee under the chairmanship of Central Board of Direct Taxes (CBDT) chief has submitted its report to the Finance Ministry.The Ministry, however, declined to share its details saying "action taken"...

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Category : Income Tax | Comments : 0 | Hits : 233

ICSI seeks early passage of Companies Bill
Posted Date : 12-May-2012 , 08:07:44 pm | Posted By CASANSAAR

The Institute of Company Secretaries of India (ICSI) has sought early passage of the new Companies Bill.   ICSI President Nesar Ahmad has said he has requested Yashwant Sinha, Chairman of Parliamentary Standing Committee on Finance, to work towards approval of the Bill in the ongoing Budget...

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Category : ICSI | Comments : 0 | Hits : 289

China moves to local control of foreign auditors
Posted Date : 12-May-2012 , 08:20:55 am | Posted By CASANSAAR

Foreign auditing firms will have to appoint a Chinese national as their chief partner in China as part of a sweeping overhaul of the country's accounting industry.   The regulations, unveiled on Thursday, are aimed at localising the mainland operations of foreign auditing firms, but they also...

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Category : Auditing | Comments : 0 | Hits : 406

Service tax on rly freight from July 1
Posted Date : 12-May-2012 , 08:17:04 am | Posted By CASANSAAR

Using the Railways to transport goods would become more expensive from July 1, with the government bringing the sector under the service tax net. The move, while being inflationary, would further reduce competitive edge of the national transporter against the road sector.     Accordi...

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Category : Service Tax | Comments : 0 | Hits : 373

Facebook: 10 little-known facts
Posted Date : 11-May-2012 , 04:37:23 pm | Posted By CASANSAAR

Facebook: 10 little-known facts Facebook Inc is all set to hit US stock markets. The world's largest social networking website is seeking as much as $96 billion in its initial public offering.  According to data compiled by Bloomberg, Facebook, co-founded by Mark Zuckerberg in 2004 in a Harv...

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Category : General | Comments : 0 | Hits : 608

Import of patented goods without IPR authorisation allowed
Posted Date : 11-May-2012 , 07:34:52 am | Posted By CASANSAAR

Imports of goods protected by patent or trademarks are permitted even without authorisation of the Intellectual Property Rights (IPR) holder, according to the Finance Ministry.The clarification was given in the backdrop the dispute between global personal computer maker Dell and traders who were sou...

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Category : Custom | Comments : 0 | Hits : 381

Educational institutions set to follow ICAI norms
Posted Date : 11-May-2012 , 07:30:48 am | Posted By CASANSAAR

 Higher education institutes in the country will soon have to report their financial information in a standard and uniform format set by the Institute of Chartered Accountants of India.   As per the format, the institutes will now have to disclose their balance sheet and the income an...

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Category : ICAI | Comments : 0 | Hits : 635

18 bluechip PSUs lacks required number of independent directors: CAG
Posted Date : 11-May-2012 , 07:26:18 am | Posted By CASANSAAR

Eighteen state-run firms, including bluechips like ONGC, IOC, OIL and GAIL, did not have the required number of independent directors on their board in 2010-11 fiscal, a CAG report said. Of the 466 Central Public Sector Enterprises (CPSEs) audited by the CAG during 2010-11, 18 companies did not...

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Category : Corporate Law | Comments : 0 | Hits : 255

RBI asks exporters to sell 50 pc of forex earnings
Posted Date : 10-May-2012 , 10:21:09 pm | Posted By CASANSAAR

In order to arrest the declining value of the rupee, the Reserve Bank today asked exporters to sell 50 per cent of their retained foreign exchange earning.   The central bank has also fixed limit for intra-day trading of foreign currency by banks.   "On a review of the scheme, it has...

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Category : RBI | Comments : 0 | Hits : 282

Cabinet clears Micro Finance Bill; RBI to regulate MFIs
Posted Date : 10-May-2012 , 10:18:00 pm | Posted By CASANSAAR

The Union Cabinet today approved a bill to regulate the micro finance industry and bring the micro lenders under the purview of the Reserve Bank. "It (Micro Financial Sector Development and Regulation Bill, 2011,) has also been cleared," Finance minister Pranab Mukherjee tol...

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Category : Finance | Comments : 0 | Hits : 236

Facebook launches its own app store
Posted Date : 10-May-2012 , 02:45:23 pm | Posted By CASANSAAR

Facebook has created its own ‘App Centre’, in which it will showcase the best apps across the web, all mobile platforms and on the social network.   The App Centre will be rolled out over the coming weeks and aims to display the finest Ios, Android, mobile and web apps.   F...

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Category : General | Comments : 0 | Hits : 414

FinMin to recover Rs 20,300 crore tax from Vodafone
Posted Date : 09-May-2012 , 10:42:23 pm | Posted By CASANSAAR

A day after the approval of the Finance Bill by the Lok Sabha, the government on Wednesday said that it will move ahead to recover the tax and penalty from the British telecom major Vodafone which is currently estimated at Rs 20,300 crore.Finance Secretary R S Gurjal said that no new notice would be...

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Category : Income Tax | Comments : 0 | Hits : 402

RBI further eases norms on FX deposits
Posted Date : 09-May-2012 , 10:40:51 pm | Posted By CASANSAAR

The RBI has allowed banks to use funds from foreign currency non-resident deposits as collateral against lending to related local residents. The funds in the foreign currency non-resident (FCNR) can be used for foreign exchange needs or for working capital needs in rupees for exporters and corpor...

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Category : RBI | Comments : 0 | Hits : 203

ICICI Bank raises foreign currency deposit rates
Posted Date : 09-May-2012 , 05:45:09 pm | Posted By CASANSAAR

ICICI Bank , India’s No. 2 lender, raises foreign currency deposit rates by up to 175 basis points, effective May 8. It raised rates for 1 to 2 year tenure by 75 basis points and for 3 to 5 year tenure by 175 basis points.   The move comes within a week of Reserve Bank hiking intere...

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Category : Banking | Comments : 0 | Hits : 253

Visa fee hike: India plans to take US to WTO
Posted Date : 09-May-2012 , 05:10:40 pm | Posted By CASANSAAR

India proposes to take the US to WTO against the latter's visa fee hike, which discriminates Indian software companies from American firms. "Department of Commerce proposes to seek consultations with the USA under the Dispute Settlement Understanding of WTO," Minister of State for Commerce and ...

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Category : General | Comments : 0 | Hits : 200

Pranab's Vodafone message to MNCs: India no tax haven
Posted Date : 09-May-2012 , 08:54:24 am | Posted By CASANSAAR

  Finance minister Pranab Mukherjee on Tuesday offered no relief to British telecom major Vodafone on its five-year-old tax dispute with the Indian government, making it clear there was no rethink on the proposal to allow authorities to tax older corporate deals. The remarks are seen as a ...

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Category : Income Tax | Comments : 0 | Hits : 307

Outstanding Credit of Scheduled Commercial Banks
Posted Date : 09-May-2012 , 08:40:48 am | Posted By CASANSAAR

The Reserve Bank of India (RBI) maintains data on Outstanding credit of Scheduled Commercial Banks (SCBs), not on loans disbursed.  Outstanding credit of SCBs is given below:   (Rs. Crore)   As on 31 March 2008 As on 31 March 2009...

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Category : Banking | Comments : 0 | Hits : 278

Competition Commission of India (CCI) constitutes an Eminent Persons Advisory Group (EPAG)
Posted Date : 09-May-2012 , 08:39:21 am | Posted By CASANSAAR

The Competition Commission of India (CCI) has constituted an Eminent Persons Advisory Group (EPAG). This will serve as a group of ‘wise persons’ to give broad inputs and advice on larger issues impacting markets and competition, good international practices, improved advocacy etc. to t...

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Category : Corporate Law | Comments : 0 | Hits : 256

RBI allows transfer of funds within NRI accounts
Posted Date : 09-May-2012 , 08:35:24 am | Posted By CASANSAAR

The Reserve Bank on Monday allowed non-resident Indians (NRIs) to transfer funds from non-resident ordinary (NRO) account to Non-Resident External (NRE) account subject to a ceiling of $1 million in a financial year.   "On a review, it has been decided that henceforth NRI... shall be eligible...

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Category : RBI | Comments : 0 | Hits : 265

Direct Tax collection at Rs 4.93 lakh cr in 2011-12
Posted Date : 08-May-2012 , 10:29:21 pm | Posted By CASANSAAR

The government today said it has collected over Rs 4.93 lakh crore as per provisional estimates from direct taxes during the 2011-12 fiscal, as against a revised estimate of Rs 5 lakh crore.   The net direct tax collection (provisionally) stood at Rs 4,93,912 crore, Minister of State for Fi...

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Category : Income Tax | Comments : 0 | Hits : 163

LS passes Finance Bill 2012, Govt to bring white paper on black money in current Parl session
Posted Date : 08-May-2012 , 10:26:37 pm | Posted By CASANSAAR

The Lok Sabha today passed the Finance Bill, giving effect to the financial proposals of the Central government for the fiscal 2012-13. The government will bring a white paper on black money in the current session of Parliament. Mr. Pranab Mukherjee disclosed this while replying to a debate on the F...

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Category : Income Tax | Comments : 0 | Hits : 454

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