Union Interim Budget 2014 - Watch Live Telecast Online on casansaar.com
Posted Date : 17-Feb-2014 , 11:33:19 am | Posted By CASANSAAR
Hon'ble Finance Minister's Presentation of Union Interim Budget in the Parliament on 17th February, 2014.
Watch Live Telecast of Union Interim Budget 2014.
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Budget |
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Over 40 lakh big spenders under tax scanner
Posted Date : 17-Feb-2014 , 08:11:13 am | Posted By CASANSAAR
The Income Tax department is keeping a close watch over 40.72 lakh high-value spenders as it plans to check potential evasion instances before the closing of the financial year on March 31.
According to data, the department has information on 40,72,829 persons who had made cash deposit...
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Income Tax |
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What is interim Budget or vote-on-account?
Posted Date : 17-Feb-2014 , 08:00:27 am | Posted By CASANSAAR
Union Finance Minister P Chidambaram is presenting UPA-II's interim Budget on Monday. Here's a description of what an interim budget or vote-on-account is.
A national interim Budget refers to the budget of a government that is going through a transition period. These budgets are common in d...
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Budget |
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ICAI helping India Post move toward accrual system of accounting
Posted Date : 16-Feb-2014 , 09:38:17 pm | Posted By CASANSAAR
If India Post is in the process of shifting from cash system of accounting to accrual system, they have the Institute of Chartered Accountants of India (ICAI) to thank for. The accrual system of accounting is in conformity with global standards of accountancy and takes in to accounts asset...
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ICAI |
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Letters to be sent to 23 lakh assessees for not filing tax returns: report
Posted Date : 16-Feb-2014 , 09:26:20 pm | Posted By CASANSAAR
In a last-ditch effort to meet revenue targets, the Income Tax Department will be sending out letters to 23 lakh assessees who have not filed returns, according to an official.
"We have identified 23 lakh people who have invested their money, but have not filed returns. We will be sending o...
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Income Tax |
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P Chidambaram to present Union Budget 2014-15 on Monday
Posted Date : 16-Feb-2014 , 06:55:44 pm | Posted By CASANSAAR
Finance Minister P Chidambaram will present the interim budget for 2014-15 in Parliament on Monday.
Along with the budget, the Finance Minister will present a vote-on-account to seek Parliament's sanction for spending till July.
Also, unlike a regular budget, the interim one does not have any new ...
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Budget |
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Former President of ICAI, CA.Ved Jain appointed as Director of DLF
Posted Date : 15-Feb-2014 , 10:54:42 am | Posted By CASANSAAR
Realtor DLF on Saturday said it has appointed three directors on its board to strengthen its management.
The company has appointed former president of the Institute of Chartered Accountants of India,Ved Kumar Jain, as an independent director on the board.
It has also ap...
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Corporate Law |
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ICAI to hold campus placements from Feb 17
Posted Date : 15-Feb-2014 , 10:46:56 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) is to hold its campus placement programme for newly qualified chartered accountants (CAs) between February 17 and March 15 at 16 centres across the country.
According to newly elected ICAI President K. Raghu, 2,690 candidates have regis...
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ICAI |
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RBI begins fresh audit at United Bank of India
Posted Date : 15-Feb-2014 , 08:30:59 am | Posted By CASANSAAR
In the wake of rapid asset quality deterioration at United Bank of India, the banking regulator has started a fresh audit of the lender—this one to scrutinize loans made in the current fiscal.
The Reserve Bank of India (RBI) last year conducted routine audits at the Kolkata-based...
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Banking |
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Vodafone replaces auditor Deloitte with rival PwC
Posted Date : 15-Feb-2014 , 08:21:33 am | Posted By CASANSAAR
Vodafone replaced its auditor for the first time since listing on the London Stock Exchange in 1991 amid a broad shake-up of the European accountancy market.
The mobile phone company said it would drop Deloitte and replace it with its rival PwC following the completion of the...
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Auditing |
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New Sebi norms a step ahead of Companies Act
Posted Date : 15-Feb-2014 , 08:13:21 am | Posted By CASANSAAR
The corporate governance norms announced by the Securities and Exchange Board of India (Sebi) go beyond those mentioned in the Companies Act.
Sebi has pushed for better corporate governance of listed companies through measures such as the need for a succession policy, prior app...
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SEBI |
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SC asks Centre to explain service tax on Tirupati trust
Posted Date : 15-Feb-2014 , 08:13:04 am | Posted By CASANSAAR
The Supreme Court on Friday decided to examine whether the services rendered by the Tirumala Tirupati Devasthanams to pilgrims, including accommodation and sevas, would come within the purview of service tax.
Issuing notice on a writ petition filed by the TTD, a Bench of Justices A.K. Patna...
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Service Tax |
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Arvind Kejriwal resigns, recommends dissolution of Delhi Assembly, fresh polls
Posted Date : 14-Feb-2014 , 08:54:39 pm | Posted By CASANSAAR
Delhi chief minister Arvind Kejriwal announced his resignation on Friday after his showpiece jan lokpal bill could not be tabled in the Delhi assembly.
Though the Aam Aadmi Party (AAP) leader had declared it as introduced in the assembly amid chaotic scenes, 42 of the 70 MLAs in the assembly ...
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General |
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Delhi Assembly not allowed to introduce Jan Lokpal Bill after 42 MLAs oppose it, says Speaker
Posted Date : 14-Feb-2014 , 06:31:51 pm | Posted By CASANSAAR
Delhi government's efforts to introduce the Jan Lokpal Bill did not get majority support for tabling it in the floor of the Assembly with 42 MLAs voting against the bill. Speaker M S Dhir said that the bill can not be introduced in the house as only 27 members are in favouring it. Voting was taken u...
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General |
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Sebi announces new corporate governance norms; mutual fund policy
Posted Date : 13-Feb-2014 , 10:57:59 pm | Posted By CASANSAAR
The board of market regulator Sebi, on Thursday, approved proposals to tighten the corporate governance norms for all listed entities. It has restricted independent directors to serve as directors on a maximum of seven listed companies and limited their total tenure to two terms of five years each.
...
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SEBI |
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RBI examines credentials of nearly 35,000 cos: MCA
Posted Date : 13-Feb-2014 , 10:50:24 pm | Posted By CASANSAAR
The Reserve Bank is examining the credentials of nearly 35,000 entities whose particulars were shared with it by the Ministry of Corporate Affairs (MCA) because of rising instances of fraudulent investment schemes.
The ministry had shared a list of 34,754 companies, which carry out fina...
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Category :
Corporate Law |
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0 | Hits : 487
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United Bank hid bad loans, finds Deloitte audit report
Posted Date : 13-Feb-2014 , 10:49:13 pm | Posted By CASANSAAR
United Bank of IndiaBSE -1.00 % either deliberately or intentionally hid bad loans as its automated system to detect payment defaults was non-functional for more than two years, an audit by consultants Deloitte has found. The bank which has the highest bad loans among state-run lenders was downgrade...
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Banking |
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Applicability of The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 to CA firms
Posted Date : 13-Feb-2014 , 09:53:45 pm | Posted By CASANSAAR
ANNOUNCEMENT
SUB: APPLICABILITY OF GUIDELINES LAID DOWN BY HON’BLE SUPREME COURT IN THE CASES OF VISHAKHA & ORS. VS. STATE OF RAJASTHAN & ORS. AND DR. MEDHA KOTWAL LELE & ORS. VS. UNION OF INDIA & ORS. FOR PREVENTION AND DEALING WITH THE SEXUAL HARASSMENT AT ...
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ICAI |
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Insertion of new paragraph 46 in AS 11, The Effects of Changes in Foreign Exchange Rates, issued by ICAI
Posted Date : 13-Feb-2014 , 01:34:09 pm | Posted By CASANSAAR
Insertion of new paragraph 46 in AS 11, The Effects of Changes in Foreign Exchange Rates, issued by TheInstitute of Chartered Accountants of India, for their applicability to entities other than companies
1. The Ministry of Corporate Affairs, Government of India, inserted par...
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ICAI |
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Information regarding Audited/Unaudited Components - Manner of Disclosure in Principal Auditor's Report. - ICAI
Posted Date : 13-Feb-2014 , 01:31:59 pm | Posted By CASANSAAR
Manner of Disclosure in the Auditor’s Report of the Fact of Inclusion of Unaudited Financial Statements/ Information of Component/s in the Financial Statements Audited by the Principal Auditor(s)
1. An independent auditor of the financialstatements of an entity may, at tim...
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Auditing |
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ICAI to introduce with guidance on frauds
Posted Date : 13-Feb-2014 , 01:27:55 pm | Posted By CASANSAAR
In efforts to curb the menace of corporate misdoings, apex body of chartered accountants ICAI will come out with guidelines for its members on various aspects of effective internal financial controls and possible frauds.
In this regard, the Institute of Chartered Accountants of India...
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ICAI |
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Accountants PwC, Deloitte, KPMG and EY face taming moves
Posted Date : 13-Feb-2014 , 01:26:02 pm | Posted By CASANSAAR
Are the Big Four accounting leviathans about to be tamed?
Even as their revenues ascend to fresh records, PwC, Deloitte, KPMG and EY are struggling to navigate new legal and regulatory pitfalls in two of their most important markets – China and the European Union.
On Wednesda...
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Category :
Auditing |
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R.K.Tiwari appointed new Chairman of CBDT
Posted Date : 13-Feb-2014 , 01:22:58 pm | Posted By CASANSAAR
R.K.Tiwari was appointed as the new chairman of Central Board of Direct Taxes (CBDT) on 9 February 2014.
The appointment was approved by the Appointments Committee of the Cabinet (ACC).
Mr. Tiwari is a 1976-batch Indian Revenue Service (IRS) officer. He is currently working as the Member o...
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Category :
Income Tax |
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New President & Vice President of ICAI
Posted Date : 13-Feb-2014 , 01:21:22 pm | Posted By CASANSAAR
CA. K. Raghu has been elected as new President & CA. Manoj Fadnis as new Vice President for the year 2014-15. Get to know these eminent luminaries of our profession, click on the link for their profile.
CA. K. RaghuPresident(Profile)
CA. Manoj FadnisVice-Presi...
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ICAI |
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Rail Budget 2014: 17 premium trains, 38 express trains to be introduced
Posted Date : 13-Feb-2014 , 01:20:16 pm | Posted By CASANSAAR
No Increase in Passenger Fares and Freight
Outlay of Rs 64,305 Crore Proposed for Rail Budget with A Budgetary Support of Rs 30,223 Crore
17 New Premium Trains, 38 Express Trains and 10 Passenger Trains Proposed
Surveys For 19 New Lines and Doubling of 5 Tracks to be Taken Up
Meghalay...
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Category :
Budget |
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Tax Audit Limit Increased From 45 to 60 for audits conducted during the financial year 2014-15 and onwards
Posted Date : 13-Feb-2014 , 01:16:39 pm | Posted By CASANSAAR
In view of the enhancement of professional competence of members to perform quality services in an IT-enabled environment, the Council of the Institute at its 331st meeting held from 10th to 12th February, 2014 has decided to increase the "specified number of tax audit assignments" for practicing Ch...
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Auditing |
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Government’s Clarification on Payment of Interest on Income Tax Refund
Posted Date : 13-Feb-2014 , 01:15:19 pm | Posted By CASANSAAR
This is with reference to the news report appearing in certain section of media that the Finance Ministry pays Rs.37, 365 cr. in interest on excess tax refund and similar reports. The emphasis of these reports is that huge interest was paid by the Government on refund of excess taxes ...
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Income Tax |
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Govt to Present Interim Budget 2014-15 on 17th February, 2014
Posted Date : 13-Feb-2014 , 01:14:06 pm | Posted By CASANSAAR
Printing Process for Interim Budget2014-15 Commenced with Halwa Ceremony
Halwa ceremony marking the commencement of Budget printingprocess for Interim Budget 2014-15 was held in North Block yesterday in the presence of the Union Finance...
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Income Tax |
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Amendment to Auditor’s Report Format Under the Companies Act
Posted Date : 13-Feb-2014 , 01:12:16 pm | Posted By CASANSAAR
Announcement 1 : Manner of Reporting on Section 227(3)(bb) of the Companies Act, 1956.
Announcement 2 : Reference to the Accounting Standards Applicable to the Companies in the Auditor’s Report and Limited Review Reports and various Engagement Standards.
Announcement 3 : Amendment ...
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Auditing |
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New PAN cards after original documents verification, to cost Rs.105
Posted Date : 29-Jan-2014 , 08:35:23 am | Posted By CASANSAAR
New PAN cards issued by the Income Tax department will cost Rs 105, including taxes.
The I-T department has recently notified new procedures for verifying personal and proprietary data of an individual or entity for allotment of new PAN cards.
The step, sources said, has been taken...
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Income Tax |
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