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2014 Lok Sabha elections in 9 phases from April 7 to May 12, results on May 16
Posted Date : 05-Mar-2014 , 11:33:15 am | Posted By CASANSAAR

The countdown for the 2014 Lok Sabha elections has begun. The polls will be held between April 7 and May 12 in nine phases, said the Elections Commission on Wednesday. The counting of votes will be held on May 16. This is the first time that voting will take place in nine phases in the country. &nb...

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Category : Income Tax | Comments : 0 | Hits : 605

Corporate affairs ministry seek views from law ministry, Sebi on FTIL action
Posted Date : 05-Mar-2014 , 08:29:28 am | Posted By CASANSAAR

The corporate affairs ministry has sought clarifications from the law ministry and regulators, Securities and Exchange Board of India (Sebi) and Forward markets Commission (FMC), to finalise action against “gross violations” by Financial Technologies India Ltd (FTIL) and relate...

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Category : Corporate Law | Comments : 0 | Hits : 317

Revision of Interest Rates for Small Savings Schemes for the Financial Year 2014-15 Announced
Posted Date : 05-Mar-2014 , 08:22:44 am | Posted By CASANSAAR

Various decisions taken by the Government of India on the recommendations of the Shyamala Gopinath Committee for Comprehensive Review of National Small Savings Fund (NSSF), were communicated to all concerned by the Government through its Office Memorandum dated 11th November, 2011.   &nb...

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Category : Finance | Comments : 0 | Hits : 675

Announcement on Increase in Minimum amount of Stipend Payable for Students during Training
Posted Date : 05-Mar-2014 , 08:18:36 am | Posted By CASANSAAR

The Council of the Institute (ICSI) at its 220th meeting held on 20.12.2013 has revised and fixed separately the minimum amount of stipend payable to CS Executive Pass students and CS Professional Pass students as under:   Trainer Executive Pass Rs./per month Professional Pa...

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Category : Students Zone | Comments : 0 | Hits : 3561

Now lessons in Chartered Accountancy via DTH platform
Posted Date : 04-Mar-2014 , 08:45:08 am | Posted By CASANSAAR

Aspiring chartered accountants will soon get their lessons through the DTH platform, with Institute of Chartered Accountants of India (ICAI) entering into an agreement with the HRD Ministry to make this possible.  ICAI will be utilising DTH education channels of the Ministr...

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Category : Students Zone | Comments : 0 | Hits : 921

SC asks Nokia to settle tax row with I-T department
Posted Date : 04-Mar-2014 , 08:38:18 am | Posted By CASANSAAR

The Supreme Court on Monday asked Nokia India Pvt Ltd to come up with a concrete proposal to settle its tax row with the income tax department.   A bench, headed by justice A R Dave, decided to hear the matter on March 11 after Nokia's counsel submitted there was a need for an early...

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Category : Income Tax | Comments : 0 | Hits : 391

Deadline for exchanging pre-2005 Bank Notes extended
Posted Date : 03-Mar-2014 , 07:07:48 pm | Posted By CASANSAAR

The Reserve Bank of India has extended the date for exchanging the pre-2005 banknotes to January 01, 2015. The central bank has asked banks to facilitate the exchange of these notes for full value and without causing any inconvenience to the public.   The RBI clarified that the public can con...

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Category : Banking | Comments : 0 | Hits : 707

SMS alert service for waitlisted rail passengers launched
Posted Date : 03-Mar-2014 , 04:33:00 pm | Posted By CASANSAAR

Now you no longer have to dial 139 or visit the rail website to check the status of your waitlisted ticket as the railways will now send booking status messages to passengers on mobile phones, if the tickets get confirmed before the journey.   “For the last 10 days the trial was going o...

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Category : General | Comments : 0 | Hits : 499

Company Secretaries’ body wants more firms under mandatory Audit
Posted Date : 03-Mar-2014 , 08:26:25 am | Posted By CASANSAAR

Playing the governance and transparency card, the Company Secretaries Institute has urged the Corporate Affairs Ministry to revisit the proposed criteria for mandatory secretarial audit in companies.   The new company law has stipulated secretarial audit for certain companies including listed...

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Category : Auditing | Comments : 0 | Hits : 692

Sebi wants monitoring agency to keep an eye on all IPO funds
Posted Date : 03-Mar-2014 , 08:24:56 am | Posted By CASANSAAR

In the four-year period between April 1993 and March 1997, as many as 4,005 companies entered the capital markets with their initial public offerings (IPOs) to raise an aggregate of Rs 41,319 crore. The IPOs accounted for more than 9 per cent of the average market capitalisation of Bombay Stock Exch...

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Category : SEBI | Comments : 0 | Hits : 325

United Bank faces Auditing, Corporate Governance probes: Report
Posted Date : 02-Mar-2014 , 08:30:29 pm | Posted By CASANSAAR

The crisis-hit United Bank of India, which has run into losses amid suspiciously high bad loans, now faces fresh probes for possible lapses related to auditing and corporate governance norms.   Capital market regulator Sebi has received complaints about possible violations to its corporate go...

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Category : Banking | Comments : 0 | Hits : 443

I-T plans data centre to nab tax evaders
Posted Date : 01-Mar-2014 , 09:28:32 pm | Posted By CASANSAAR

The next time you shop online or make payment from your debit or credit card at a retail outlet or buy or sell a property, make sure you have filed your income tax return and cleared all dues. After Central Processing Centres (CPC) for income tax returns and Tax Deducted at Sour...

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Category : Income Tax | Comments : 0 | Hits : 561

Download Guidance Note on Audit of Banks issued by ICAI
Posted Date : 01-Mar-2014 , 10:18:57 am | Posted By CASANSAAR

The Auditing and Assurance Standards Board of the Institute of Chartered Accountants of India has issued Guidance Note on Audit of Banks 2014 edition. For the benefit of members, complete text of the Guidance Note along with the accompanying appendices etc. ca...

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Category : ICAI | Comments : 0 | Hits : 2499

CBDT must clear the air on tax treatment of CSR spend: Corporate India
Posted Date : 01-Mar-2014 , 08:59:19 am | Posted By CASANSAAR

Corporate India wants the income tax law to be clarified upfront so that their CSR spend will be eligible for deduction for income tax purposes with effect from April 1 next year.   The new corporate social responsibility (CSR) framework comes into effect from April 1.   There is no ex...

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Category : Income Tax | Comments : 0 | Hits : 518

Vodafone tax conciliation decision due after transfer pricing case is settled
Posted Date : 01-Mar-2014 , 08:53:48 am | Posted By CASANSAAR

The government will take a decision on withdrawal of conciliation offer to Vodafone for resolving the Rs. 20,000 crores tax dispute after a transfer pricing case concerning the UK telecom giant is settled.   "The Cabinet has decided to instruct the Income Tax Appellate Tribunal (ITA...

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Category : Income Tax | Comments : 0 | Hits : 442

Haryana presents tax free budget, eye on elections
Posted Date : 01-Mar-2014 , 08:43:48 am | Posted By CASANSAAR

With eyes on Assembly elections this year, Congress-led Haryana government on Friday presented a tax-free Budget for 2014-15, with major allocations being made for education, power and social justice and empowerment.   Presenting Bhupinder Singh Hooda led state government's last budget ah...

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Category : Income Tax | Comments : 0 | Hits : 338

Finance Ministry allows EPFO to become stock exchange member
Posted Date : 28-Feb-2014 , 09:31:11 pm | Posted By CASANSAAR

The Finance Minister has allowed retirement fund body EPFO to become a member of a stock exchange although its trustees oppose parking even a part of its over Rs. 5 lakh crore corpus in equities. The Department of Economic Affairs has issued a notification under the Securities Contracts (...

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Category : Shares & Stock | Comments : 0 | Hits : 244

Supply of Certified Copies of Evaluated Answer Books in Soft Form - ICAI
Posted Date : 28-Feb-2014 , 07:09:57 pm | Posted By CASANSAAR

28th February 2014 Currently, certified photo copies of evaluated answer books are being provided to the examinees who apply for the same, in accordance with a scheme formulated for the purpose.With a view to ensure faster delivery of certified copies to the applicants, it has now been decided to m...

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Category : Students Zone | Comments : 0 | Hits : 750

Centre hikes DA by 10% for 80 lakh employees & pensioners
Posted Date : 28-Feb-2014 , 06:41:48 pm | Posted By CASANSAAR

The government also approved the terms of reference of the 7th Pay Commission, a move which would pave the way formerger of 50 per cent DA with the basic pay.  According to an official, now the Commission can suggest the merger in its interim report. The 50 per cent DA merger with basic p...

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Category : General | Comments : 0 | Hits : 350

Union Cabinet gave its approval to the Terms of Reference of 7th Central Pay Commission (CPC)
Posted Date : 28-Feb-2014 , 06:39:06 pm | Posted By CASANSAAR

The Union Cabinet today gave its approval to the Terms of Reference of 7th Central Pay Commission (CPC) as follows:-   a)      To examine, review, evolve and recommend changes that are desirable and feasible regarding the principles that should govern the em...

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Category : General | Comments : 0 | Hits : 311

UP Police arrests Sahara's Subrata Roy, SC to hear case on March 4
Posted Date : 28-Feb-2014 , 11:13:01 am | Posted By CASANSAAR

Sahara chief Subrata Roy surrendered before the Lucknow police on Friday. Roy's legal counsel Ram Jethmalani has confirmed that his client has surrendered before the police. Roy will remain in police custody till March 04. Jethmalani's had earlier made submission that Roy be granted exemption from...

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Category : General | Comments : 0 | Hits : 317

Deloitte objects to PWC's special audit report on MCX
Posted Date : 28-Feb-2014 , 08:42:52 am | Posted By CASANSAAR

Deloitte Haskins & Sells, the auditor of Multi Commodity Exchange (MCX), is understood to have objected to a special audit report on the exchange by PricewaterhouseCoopers (PwC). Earlier, the Forward Markets Commission (FMC) had asked PwC to carry out a special audit of MCX, since the exchange&r...

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Category : Auditing | Comments : 0 | Hits : 786

Sebi’s new buyback regulation hits legal hurdle
Posted Date : 28-Feb-2014 , 08:39:20 am | Posted By CASANSAAR

The Securities and Exchange Board of India’s new rules to curb swindle by promoters in share buybacks could face a blockade as the law ministry has backed the ministry of corporate affairs’ claim that the market regulator was not empowered to change the regulations. The department of le...

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Category : SEBI | Comments : 0 | Hits : 327

RBI-appointed Nayak panel seeks information on banks’ board meet
Posted Date : 28-Feb-2014 , 08:36:12 am | Posted By CASANSAAR

An expert committee appointed by the Reserve Bank of India has sought minutes of board meetings from banks, a move that bankers said could be aimed at ascertaining the role of shareholder promoters in influencing the day-to-day functioning of the lenders.The Nayak committee set up to review the gove...

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Category : Banking | Comments : 0 | Hits : 296

CBI unearths Rs 45,000 crore scam by Delhi realty company
Posted Date : 28-Feb-2014 , 08:21:49 am | Posted By CASANSAAR

In one of the biggest scams of recent times, the Central Bureau of Investigation has recovered documents from the premises of Delhi—based real estate company, PACL — also known as 'Pearls'— and its sister company PGF, showing that they allegedly used ponzi scheme to cheat...

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Category : General | Comments : 0 | Hits : 914

CSR Rules Finalised After Extensive Consultations - Sachin Pilot
Posted Date : 27-Feb-2014 , 04:46:55 pm | Posted By CASANSAAR

Notifications were issued here today to give effect to Section 135 and Schedule VII of the Companies Act, 2013, which relate to CSR (Corporate Social Responsibility) related spending by companies. Shri Sachin Pilot, Minister for Corporate Affairs, has said that the concerned rules have been finalise...

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Category : Corporate Law | Comments : 0 | Hits : 419

RBI makes it tough for firms to get away with loan default
Posted Date : 27-Feb-2014 , 08:35:35 am | Posted By CASANSAAR

The Reserve Bank of India has moved in to make it difficult for corporate borrowers to escape repaying banks for their loans.   In less than a month after putting up a plan for better fire-fighting against bad loans, RBI Governor Raghuram Rajan has finalised the rules for Indian banks. The no...

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Category : RBI | Comments : 0 | Hits : 610

Ministry of Corporate Affairs seeks law min advice to act against Financial Technologies
Posted Date : 27-Feb-2014 , 08:33:45 am | Posted By CASANSAAR

The Ministry of Corporate Affairs (MCA) has sought the law ministry's opinion on the course of action to be taken against Financial Technologies IndiaBSE 1.40 % after an inspection found the company of violating regulations, a senior MCA official said. An inspection of the Jignesh Shah-promoted comp...

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Category : Corporate Law | Comments : 0 | Hits : 315

Announcement for Revision in Fee of Expert Advisory Committee - ICAI
Posted Date : 26-Feb-2014 , 10:59:55 pm | Posted By CASANSAAR

The Council, at its 331st meeting held on 10th to 12th February, 2014, has approved an upward revision in fee charged by the Expert Advisory Committee for giving its opinion. The approved fee is given below: Rs. 75,000/- per query where the query relates to: an enterprise whose equity or debt...

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Category : ICAI | Comments : 0 | Hits : 531

Supreme Court orders Sahara chief Subrata Roy's arrest
Posted Date : 26-Feb-2014 , 08:54:05 pm | Posted By CASANSAAR

The Supreme Court on Wednesday issued non bailable arrest warrant against Sahara Chief Subrata Roy for his failure to appear before it in connection with the case in which his two companies have been directed to refund Rs 20,000 crore to investors.   “We had already declined on Tuesday ...

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Category : General | Comments : 0 | Hits : 297

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