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PAN to be most potent tool against tax evasion: Income Tax Department
Posted Date : 06-Feb-2012 , 08:44:20 am | Posted By CASANSAAR

Come next financial year, the PAN card is likely to become the most potent tool for the Income Tax Department to unearth black money, tax evasion and instances of criminal financing in the country. A recent directive of the Central Board of Direct Taxes (CBDT) to the I-T Dept has asked its offic...

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Category : Income Tax | Comments : 0 | Hits : 591

BUDGET 2012 More services likely in tax net; negative list on cards
Posted Date : 06-Feb-2012 , 08:43:07 am | Posted By CASANSAAR

The government is likely to bring more services in the tax net to raise revenues and may introduce a negative list in the forthcoming budget for fiscal 2012-13. The government is expected to keep 22 services in the negative list and impose 10 per cent tax on the rest, sources said, adding tha...

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Category : Service Tax | Comments : 0 | Hits : 231

Sebi seeks external consultant for overhaul of role
Posted Date : 06-Feb-2012 , 08:36:13 am | Posted By CASANSAAR

The Corporate Affairs Ministry is unlikely to yield to pressure from some political parties to make 2 per cent CSR spending mandatory for corporates under the new Companies Bill, which is currently being scrutinised by a parliamentary committee. The MCA is expected to communicate its stand to the...

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

SBI waives service fee on SME loans under CGT scheme
Posted Date : 06-Feb-2012 , 08:31:34 am | Posted By CASANSAAR

Country's largest lender, State Bank of India, has decided to waive guarantees and annual service fees for loans to small and medium businesses guaranteed under the Credit Guarantee Fund Trust scheme.To improve credit flow to the SME sector, the government-appointed Credit Guara...

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Category : Banking | Comments : 0 | Hits : 189

Pune youngster dupes income tax department of Rs2.13 cr
Posted Date : 05-Feb-2012 , 07:42:32 am | Posted By CASANSAAR

The Swargate police have booked a person who allegedly duped the income tax (IT) department ofSwargate office to the tune Rs2.13 crore after stealing their cheque book and forging the signature of an IT officer, from March 11 to June 26, 2011. Interestingly, the suspect, Giris...

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Category : Income Tax | Comments : 0 | Hits : 389

RBI issues fresh directive for banks on home loan
Posted Date : 04-Feb-2012 , 08:22:48 pm | Posted By CASANSAAR

The Reserve Bank of India (RBI) has asked all commercial banks to refrain from overvaluing houses while providing loans.In a notification issued from Mumbai on Friday, RBI has noticed that some banks include stamp duty, registration and other documentation charges in the cost of the house property, ...

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Category : RBI | Comments : 0 | Hits : 487

Nearly 8,500 income tax officers on protest; HNIs and corporates enjoy breather
Posted Date : 04-Feb-2012 , 07:29:05 am | Posted By CASANSAAR

For some time, well-heeled individuals and corporates may not lose sleep over fears of tax sleuths knocking on their doors. Close to 8,500 gazetted income tax employees in the rank of I-T officers (ITOs), assistant commissioners and administrative officers have gone on a nationwide agitation....

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Category : Income Tax | Comments : 0 | Hits : 343

Google launches programme to help women entrepreneurs
Posted Date : 03-Feb-2012 , 07:36:32 pm | Posted By CASANSAAR

Internet search giant Google Inc has launched a programme to help women entrepreneurs grow their businesses through an online presence. The program, 'Women Entrepreneurs on the Web' (WEOW), aims to help women entrepreneurs across India grow their online presence. It would provide women entrepren...

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Category : International Business | Comments : 0 | Hits : 294

Finance Minister Holds Meeting with Representatives of Business and Trade as Part of Pre-Budget Consultations;
Posted Date : 03-Feb-2012 , 07:32:06 pm | Posted By CASANSAAR

The Union Finance Minister Shri Pranab Mukherjee has said in order to achieve the objective of inclusive growth, we need to have 9 plus growth rate for a sustainable period. The Finance Minister said that in order to ensure that everybody gets due share of development, it is necessary that the benef...

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Category : Finance | Comments : 0 | Hits : 151

Mahindra Satyam gets attachment order from Income Tax Department
Posted Date : 03-Feb-2012 , 03:53:18 pm | Posted By CASANSAAR

Mahindra Satyam today said it has received a provisional attachment order from the Income Tax Department attaching land and buildings of the company. "The company had received a provisional attachment order dated January 30, 2012, from the Additional Commissioner of Income Tax (ACIT), Centra...

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Category : Income Tax | Comments : 0 | Hits : 225

ICSI Launches New Syllabus for CS Foundation Programme
Posted Date : 03-Feb-2012 , 08:28:21 am | Posted By CASANSAAR

The Institute of Company secretaries of India ( ICSI), a premier National Professional body established by Act of Parliament to develop and regulate the Profession of Company Secretaries   has launched a new syllabus for CS Foundation Programme today, a...

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Category : ICSI | Comments : 0 | Hits : 396

ICAI proposes increased disclosure by listed cos
Posted Date : 03-Feb-2012 , 08:26:18 am | Posted By CASANSAAR

Accounting authorities are considering a proposal that will ask listed companies to disclose the extent of their holdings in risky regions or in volatile financial instruments, on the grounds that stakeholders need to be informed about the impact of such exposures. The proposal, which will have t...

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Category : ICAI | Comments : 0 | Hits : 247

Laxman Das takes over as new CBDT chairman
Posted Date : 03-Feb-2012 , 08:20:58 am | Posted By CASANSAAR

 Laxman Das took over as the new chairman of the Central Board of Direct Taxes (CBDT) on Wednesday.      The former chairman of the CBDT, M C Joshi, retired yesterday.     Das, who belongs to the 1974 batch of the Indian Revenue Services (IRS), was e...

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Category : Income Tax | Comments : 0 | Hits : 490

Finance Ministry putting pressure on taxmen to meet revenue targets
Posted Date : 03-Feb-2012 , 08:19:17 am | Posted By CASANSAAR

Faced with a formidable task of collecting Rs 9.32 lakh crore taxes during the fiscal ending March 31, Finance Minister Pranab Mukherjee on Thursday said that he is exerting pressure on revenue officials to improve realisation. "I am putting pressure on my colleagues in the CBEC, CBDT ...and on my...

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Category : Income Tax | Comments : 0 | Hits : 114

Facebook can change government-people dialogue: Mark Zuckerberg
Posted Date : 02-Feb-2012 , 08:48:31 pm | Posted By CASANSAAR

Noting that Facebook was not originally meant to be a company, its founder and chief Mark Zuckerberg has said he now wants it to change the way people relate to their governments and to help them get a better response for their issues and concerns. "We hope to change how people relate to the...

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Category : International Business | Comments : 0 | Hits : 243

SC cancels 122 2G licenses; Chidambaram probe left to trial court
Posted Date : 02-Feb-2012 , 08:34:05 pm | Posted By CASANSAAR

Supreme Court today cancelled 122 2-G licenses allocated to telecom companies in 2008. The Apex court held that the licenses were granted in arbitrary and unconstitutional manner and asked the telecom Regulatory Authority of India to make fresh recommendation on the grant of these licenses. The...

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Category : General | Comments : 0 | Hits : 174

Results of the Chartered Accountants Professional Competence and Integrated Professional Competence Examinations held in November, 2011 are likely to be declared tentatively on Thursday, the 9th Feb.
Posted Date : 02-Feb-2012 , 05:36:13 pm | Posted By CASANSAAR

The results of the Chartered Accountants Professional Competence and IntegratedProfessional Competence Examinations held in November, 2011 are likely to be declaredtentatively on Thursday, the 9th February, 2012 around 4.00 P.M. and the same as well as the merit list (candidates securing a minimum o...

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Category : Students Zone | Comments : 0 | Hits : 1786

Ex Addil Commissioner of Income Tax sent to jail for 4 yrs
Posted Date : 02-Feb-2012 , 08:21:04 am | Posted By CASANSAAR

A former Additional Commissioner of Income Tax, arrested by CBI for demanding Rs one lakh as bribe for clearing a tax return matter, has been sentenced to four years in jail by a Delhi court. Special CBI Judge Talwant Singh also imposed a fine of Rs four lakh on convict H A Siddiqui in the gr...

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

Sebi notifies IPP norms to help promoters dilute stake
Posted Date : 02-Feb-2012 , 08:16:09 am | Posted By CASANSAAR

In a move that could expedite government's disinvestment process, the market regulator SEBI on Wednesday notified the IPP guidelines that will allow companies to reduce promoter shareholding through private placement. As per the new norms for Institutional Placement Programme (IPP) of shares, eve...

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Category : SEBI | Comments : 0 | Hits : 225

Budget 2012: Excise, service tax rates headed up as RBI makes it precondiiton for monetary easing
Posted Date : 02-Feb-2012 , 08:12:22 am | Posted By CASANSAAR

Policymakers have begun talks on raising indirect taxes and withdrawing the last remnants of the 2008 stimulus, as the government comes under fire for not tackling the rising fiscal deficit. "There is a thinking within some sections in the finance ministry as well as other senior policymakers tha...

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Category : Service Tax | Comments : 0 | Hits : 191

Court orders Indian Oil Corp to pay entry tax on crude
Posted Date : 02-Feb-2012 , 08:04:12 am | Posted By CASANSAAR

An Indian court has ruled that the country's biggest refiner, Indian Oil Corp, must pay entry tax on the crude it supplies to a plant in a northern state, the company told the country's stock exchange on Wednesday. IOC said the order could have "financial implications". It did not say when the Al...

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Category : General | Comments : 0 | Hits : 184

Govt to take up Cos Bill in Budget Session: Moily
Posted Date : 01-Feb-2012 , 08:40:46 pm | Posted By CASANSAAR

The government today said it is hopeful of taking up the new Companies Bill for consideration and passage in the upcoming Budget Session of Parliament.   "Standing Committee had their first meting on January 24. I expect them to give (clearance) as early as possible so that I can present th...

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Category : Corporate Law | Comments : 0 | Hits : 319

I-T Dept searches premises of liquor baron Ponty Chadha in UP, Delhi
Posted Date : 01-Feb-2012 , 03:12:16 pm | Posted By CASANSAAR

The Income Tax Department on Wednesday conducted searches at the premises of prominent Uttar Pradesh-based liquor baron and businessman Ponty Chadha, in the state and at a few locations in Delhi. The searches, which began early this morning, were conducted at more than 10 premises of the bus...

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Category : Income Tax | Comments : 0 | Hits : 306

Now, Vodafone takes on I-T dept over transfer pricing
Posted Date : 01-Feb-2012 , 08:35:32 am | Posted By CASANSAAR

Encouraged by the recent Supreme Court order in its favour, Vodafone Plc is taking on the income tax department, yet again.   The British telecom major yesterday moved the dispute resolution panel, seeking relief from an order sent by the I-T department in December. The draft transfer ...

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Category : Income Tax | Comments : 0 | Hits : 455

SEBI slaps Rs 16 lakh fine on 2 entities for the IPO scam
Posted Date : 01-Feb-2012 , 08:29:04 am | Posted By CASANSAAR

Capital market regulator SEBI Tuesday imposed fine of Rs 16 lakh on two market intermediaries for irregularities in the initial public offers (IPOs) of 16 companies between 2003-05.     "I hereby impose a penalty of Rs 15 lakh on Roopal Nareshbhai Panchal and a penalty of Rs 1 la...

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Category : SEBI | Comments : 0 | Hits : 171

RBI allows pvt banks to conduct govt business
Posted Date : 01-Feb-2012 , 08:27:30 am | Posted By CASANSAAR

The Reserve Bank of India (RBI) has decided to allow all private sector banks to undertake Central and state government business, which is still a forte of public sector banks and three large private players, ICICI Bank, HDFC Bank and Axis Bank.   Banks earn a fee while working as an agent ...

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Category : Banking | Comments : 0 | Hits : 275

Corruption is a threat to democracy: Supreme Court
Posted Date : 31-Jan-2012 , 09:11:32 pm | Posted By CASANSAAR

Expressing concern over corruption plaguing public life, the Supreme Court on Tuesday said the malady poses a "grave" danger to the country's democracy. "Today, corruption in our country not only poses a grave danger to the concept of constitutional governance, it also threatens the very foundat...

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Category : General | Comments : 0 | Hits : 201

RBI to issue 500 note with rupee symbol
Posted Date : 31-Jan-2012 , 05:46:52 pm | Posted By CASANSAAR

The Reserve Bank of India, RBI will soon issue 500 rupees denomination bank-notes incorporating new rupee symbol without inset letter.According to the RBI release, the new notes will bear the signature of RBI Governor D Subbaro and the year of printing 2011 printed on the back of the bank note.The d...

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Category : Income Tax | Comments : 0 | Hits : 486

Extension of date for registration for Integrated Professional Competence Course (IPCC)
Posted Date : 31-Jan-2012 , 02:10:09 pm | Posted By CASANSAAR

IMPORTANT ANNOUNCEMENT BoS/Announcement/227/12 January 30, 2012   Sub: Extension of date for registration for Integrated Professional Competence Course (IPCC)   In order to mitigate the hardship being faced by the students in regis...

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Category : Students Zone | Comments : 0 | Hits : 337

ICAI panel on black money to submit report in a fortnight
Posted Date : 31-Jan-2012 , 07:55:26 am | Posted By CASANSAAR

The Institute of Chartered Accountants of India has said a committee constituted to suggest ways to check and bring back black money stashed in banks abroad will submit its report to the Finance Ministry within a fortnight.     The institute has asked the government to bring in a...

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Category : ICAI | Comments : 0 | Hits : 205

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