EPFO announces 8.75 per cent interest rate on PF deposits for 2013-14
Posted Date : 13-Jan-2014 , 12:19:58 pm | Posted By CASANSAAR
Retirement fund body EPFO on Monday raised the PF interest rate from 8.5 percent to 8.75 per cent for 2013-14.
EPFO was widely expected to retain 8.5 per cent interest on PF deposits for its over 5 crore subscribers in 2013-14.
The Employees' Provident Fund Organisation's apex deci...
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General |
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CAG's powers to audit under judicial scrutiny
Posted Date : 13-Jan-2014 , 07:48:42 am | Posted By CASANSAAR
The power of the Comptroller and Auditor General (CAG) toaudit has now assumed great topical interest because of the recent judgment of the Delhi High Court allowing CAG to audit public-private partnership (PPP) projects and private projects with a clear impact on government revenue. This is mo...
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Category :
Auditing |
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0 | Hits : 408
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RBI to examine proposal for limiting free ATM transactions
Posted Date : 12-Jan-2014 , 09:12:09 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) will consider reducing the number of free ATM withdrawals, as recommended by Indian Banks' Association, in an effort to cut down on cash transactions in the economy.
"We will examine that (IBA recommendation of cutting down number of free ATM transaction to 5...
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Banking |
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Adnan Sami Night - Personal Function of Chairman CMII or Function of ICAI CMII Committee
Posted Date : 12-Jan-2014 , 12:41:24 pm | Posted By CASANSAAR
CMII organised 7th ICAI award function, followed by Adnan Sami Night at Sri Fort Auditorium on 11th January, 2014. Our Correspondent has reported that it seemed a PERSONAL FUNCTION OF CHAIRMAN CMII RATHER THEN FUNCTION OF ICAI CMII COMMITTEE.
It appears in the name of the function for membe...
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ICAI |
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CBDT may do away with submission of ITRV forms
Posted Date : 12-Jan-2014 , 10:56:55 am | Posted By CASANSAAR
In what could be good news for lakhs of taxpayers filing their I-T returns online, CBDT is mulling doing away with the mandatory submission of paper verification printout to its processing centre in Bangalore.
Central Board of Direct Taxes (CBDT), the apex office to formulate policies for t...
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Income Tax |
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Aadhaar is adequate to open a bank account: RBI
Posted Date : 11-Jan-2014 , 08:40:33 am | Posted By CASANSAAR
The Reserve Bank of India’s committee on comprehensive financial services for small businesses and low-income households headed by Nachiket Mor on Friday said that the Aadhaar process was adequate to enable every Indian to get a bank account by January 1, 2016.
“Target is depend...
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Banking |
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0 | Hits : 610
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SEBI notifies new norms to conduct search and seizure
Posted Date : 11-Jan-2014 , 08:36:26 am | Posted By CASANSAAR
Adding extra powers to its crackdown against fraudsters, SEBI today notified new norms empowering its Chairman to order search and seizure operations during investigations, while necessary safeguards have also been put in place to protect rights of affected persons.
These norms come a day a...
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SEBI |
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ICSI Moves Completely to Single - Window Facility with Online Registration to Company Secretaryship Course
Posted Date : 10-Jan-2014 , 10:35:22 pm | Posted By CASANSAAR
With a view to provide efficient and any- time service to students , the Institute of Company Secretaries of India (ICSI), working under the aegis of the Ministry of Corporate Affairs, has moved to complete online registration for the Company Secretaryship (CS) Course w.e.f 1.1.2014. Now the Institu...
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ICSI |
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RBI eases rules to boost foreign direct investment
Posted Date : 10-Jan-2014 , 08:40:39 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Thursday relaxed foreign direct investment regulations to allow investors to exit their investments subject to the conditions of a minimum lock-in period and without any assured returns. RBI said the relaxation was expected to facilitate great foreign direct i...
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RBI |
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2 | Hits : 387
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No settlement of cases involving serious offences: SEBI
Posted Date : 10-Jan-2014 , 08:38:38 am | Posted By CASANSAAR
Entities charged with serious offences like illegal money pooling, insider trading and fraudulent trades will not be able to settle these cases any more after Sebi today notified a stricter set of settlement norms. Making things even worse for such offenders, the new regulations have been notif...
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SEBI |
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CBDT withdraws I-T exemption of 4 Cricket Associations engaged in commercial activities; initiates reassessment
Posted Date : 09-Jan-2014 , 06:16:07 pm | Posted By CASANSAAR
The Income Tax authorities have looked into the affairs of the four cricket associations, namely Saurastra Cricket Association, Baroda Cricket Association, Kerala Cricket Association and Maharastra Cricket Association and have found that these cricket associations were engaged in certain activities ...
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Income Tax |
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1 | Hits : 364
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Result of the CA Final & CPT Examination held in Nov/Dec 2013 are likely to be declared on 15th Jan.2014
Posted Date : 09-Jan-2014 , 12:58:50 pm | Posted By CASANSAAR
The result of the Chartered Accountants Final Examination held in November, 2013 and CommonProficiency Test (CPT) held in December, 2013 are likely to be declared on Wednesday, the 15thJanuary, 2014 around 2.00 P.M. and the same as well as the merit list (candidates securing a minimumof 55% and abov...
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Category :
Students Zone |
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RBI eases gold lending rules for non-bank finance companies
Posted Date : 09-Jan-2014 , 08:53:49 am | Posted By CASANSAAR
People seeking loan against gold jewellery can now borrow more, as the Reserve Bank of India (RBI) on Wednesday allowed non-banking finance companies (NBFCs) to lend up to 75 per cent of the value of the metal from 60 per cent at present.
"...it has been decided to raise the LTV (loan-to-alue) rati...
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Category :
Banking |
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BJP's proposal of abolishing income tax feasible: Experts
Posted Date : 09-Jan-2014 , 08:50:07 am | Posted By CASANSAAR
Abolishing income tax and other levies and replacing them with some other suitable form of revenue is feasible and desirable, say experts, although some believe that such a move would militate against social equity.
Describing the concept as "aspirational", Ficci President Sidharth Birla said: "If ...
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Income Tax |
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Rules Regarding the Salaries, Allowances, etc. of the Chairperson and Other Members of the National Company Law Appellate Tribunal Notified
Posted Date : 08-Jan-2014 , 07:20:33 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs has notified the National Company Law Appellate Tribunal (Salaries, Allowances and other terms and conditions of service of the Chairperson and other Members) Rules, 2014 as per the powers conferred by the new Companies Act 2013. As per these Rules, the Chairperson ...
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Corporate Law |
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Get FREE Regular Professional Updates via email / BBM from CASANSAAR
Posted Date : 08-Jan-2014 , 09:05:56 am | Posted By CASANSAAR
Now receive email / BBM alerts on the go from CASANSAAR.COM. This free subscription will entitle you to faster complete updates. Receive Professional, Tax and Career related updates in your mobile / email inbox and stay ahead in your professional life.Some features CASANSAAR SMS / ema...
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ICAI |
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Mahila Bank signs MoUs with ICAI to finance CA students
Posted Date : 08-Jan-2014 , 08:52:20 am | Posted By CASANSAAR
Bharatiya Mahila Bank (BMB), the first all-women bank, today signed an agreement with Institute of Chartered Accountants of India (ICAI) for financing students pursuing chartered accountancy.
It has also signed another MoU with ICAI for financing members of ICAI, practicing chartered accoun...
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Students Zone |
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2 | Hits : 1289
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RBI allows foriegn investors to use 'Put' and 'Call' options
Posted Date : 08-Jan-2014 , 08:37:49 am | Posted By CASANSAAR
After months of dithering, the Reserve Bank of India has allowed foreign investors to use 'call' and 'put' options to structure their investments in India. But experts said the stringent valuation restriction is detrimental to new investments or joint ventures.RBI has amended the foreign exchange ma...
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RBI |
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0 | Hits : 345
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Bank official, 2 others held for theft from dead NRI's account
Posted Date : 07-Jan-2014 , 06:20:29 pm | Posted By CASANSAAR
A debt-ridden executive of a reputed private bank and his two accomplices have been arrested for allegedly stealing Rs 49 lakh from the account of a dead NRI since November last year, police said today.
The bank employee carried out the theft by transferring the amount to a fake account opene...
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Banking |
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BJP plans uniform banking transaction tax to replace income tax system
Posted Date : 07-Jan-2014 , 08:55:23 am | Posted By CASANSAAR
There’s nothing sexy about death or taxes unless someone promises to abolish it if you vote for them, an American tax lawyer once said.
For the past month or so, top BJP leaders have been thinking aloud about a proposal to abolish income, sales and excise taxes and replace them with...
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Category :
Income Tax |
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HC upholds laws empowering CAG to conduct Audit of private telcos
Posted Date : 07-Jan-2014 , 08:39:17 am | Posted By CASANSAAR
In a major boost to regulation, the Delhi high court on Monday upheld the contention of the comptroller and auditor general of India (CAG) that he could scrutinize the accounts of private telecom companies. Such an audit would, however, be limited to receipts in order to check wh...
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Auditing |
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Companies may issue debt to non-residents as bonus, says RBI
Posted Date : 06-Jan-2014 , 08:50:10 pm | Posted By CASANSAAR
The Reserve Bank today allowed Indian companies to issue non-convertible or redeemable preference shares or debentures to non-resident shareholders from their reserves as bonus.
"On a review and with a view to rationalising and simplifying the procedures, it has been deci...
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Income Tax |
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0 | Hits : 305
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Mumbai Police files chargesheet in Rs 5,600-crore NSEL scam
Posted Date : 06-Jan-2014 , 08:45:35 pm | Posted By CASANSAAR
The Mumbai Police on Monday filed a 9,800-page chargesheet against five accused arrested in connection with the National Spot Exchange Ltd (NSEL) scam, which involves a payment default of Rs 5,600 crore.
The voluminous chargesheet included the list of attached properties of the ...
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Shares & Stock |
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0 | Hits : 254
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Bank employees to go on 2-day strike from January 20: UFBU
Posted Date : 06-Jan-2014 , 08:51:08 am | Posted By CASANSAAR
Operations at all the public sector banks (PSBs) and regional rural banks are likely to be affected for two days from January 20 as the United Forum of Banks Unions (UFBU) has given a strike call, demanding wage revision as well as the resolution of certain other issues.
UFBU national convener M V ...
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Banking |
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1 | Hits : 504
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SEBI names 3 qualified clearing houses for securities market
Posted Date : 06-Jan-2014 , 08:46:02 am | Posted By CASANSAAR
The capital market regulator SEBI has said that National Securities Clearing Corporation Ltd (NSCCL), Indian Clearing Corporation Ltd (ICCL) and MCX-SX Clearing Corporation Ltd (MCX-SXCCL) are the only qualified central counterparties (QCCPs) in the Indian securities market.
The three corpo...
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Shares & Stock |
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0 | Hits : 280
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Modi’s promise: will review tax system, need for reform
Posted Date : 06-Jan-2014 , 08:39:18 am | Posted By CASANSAAR
Terming the existing taxation structure as a "burden", BJP's prime ministerial candidate Narendra Modi on Sunday promised to review and reform the system if his party is voted to power.
"The present taxation system is a burden on the common man. There is a need to reform it. It is the need ...
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Income Tax |
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0 | Hits : 334
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Company Law emphasises on importance of independent Directors
Posted Date : 05-Jan-2014 , 10:00:56 am | Posted By CASANSAAR
The Company Law Act 2013 has a number of provisions on appointment of independent directors and there is a "growing importance" of their role and responsibility, a senior official of city-based cement manufacturer The India Cements Ltd said today. "There is a growing importance of independent d...
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Corporate Law |
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Congrats to CA.Adish Kumar Jain for being nominated as Director of Corporation Bank
Posted Date : 04-Jan-2014 , 04:05:47 pm | Posted By CASANSAAR
Congrats to CA.Adish Kumar Jain for being nominated as Director of Corporation Bank.
Shri Adish Kumar Jain, B.Sc., L.L.B.,FCA, DISA(ICAI) is a fellow member of the Institute of Chartered Accountants of India (M. No. 071255),having rich experience of over 30 years in the fiel...
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General |
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6 | Hits : 1201
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MCX-SX board appoints EY for forensic Audit
Posted Date : 04-Jan-2014 , 08:42:59 am | Posted By CASANSAAR
MCX-SX board chaired by former home secretary GK Pillai on Friday appointed Ernst & Young (EY) to carry out forensic audit of the stock exchange since its inception in December 2008 when it began trading in currency futures. The board, which has been taken over by government-appointed representa...
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Category :
Auditing |
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0 | Hits : 470
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Financial benchmark calculation may be based on observable transactions
Posted Date : 04-Jan-2014 , 08:39:50 am | Posted By CASANSAAR
The Reserve Bank of India (RBI)’s panel on financial benchmarks has made several recommendations to bring in more transparency and improve the functioning of financial benchmarks.
The panel said in its draft report the methodology used to calculate these benchmarks should be based o...
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RBI |
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