Sebi revises system Audit guidelines
Posted Date : 07-Nov-2013 , 08:25:55 am | Posted By CASANSAAR
Market regulator Sebi asked bourses to report all major non-compliances and observations by system auditors of stock brokers on a quarterly basis. The exchanges are also required to ensure that all major audit findings specifically in critical areas, are rectified ...
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Income Tax |
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Direct tax collection up 11.58 per cent in April-October at Rs 3.37 lakh crore
Posted Date : 06-Nov-2013 , 07:30:52 pm | Posted By CASANSAAR
Amid a slowing economy, gross direct tax collection has risen by 11.58 per cent to Rs. 3.37 lakh crore during the April-October period of fiscal year 2013-14 (FY14), according to official data.
The collections had totalled Rs. 3.02 lakh crore during the first seven months ...
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Income Tax |
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Date Extended for Giving Suggestions for the 3rd & 4th Tranche of Draft Rules Under the Companies Act 2013
Posted Date : 06-Nov-2013 , 06:42:16 pm | Posted By CASANSAAR
The last date for the public at large for giving suggestions/ comments to the Ministry of Corporate Affairs regarding the 3rd and 4th tranche of Draft Rules being framed under the Companies Act, 2013 has been extended to the 10th of this month. In these 2 phases, Draft Rules have been framed on depo...
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Corporate Law |
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Notification – Special Examination in Kathmandu (Nepal) on 23.11.2013 - ICAI
Posted Date : 06-Nov-2013 , 02:57:31 pm | Posted By CASANSAAR
No.13-CA(Exam)/N/2013/III: In continuation to Notification No.13-CA(Exam)/N/2013/II dated 8thOctober, 2013 and in further partial modification of the Institute’s Notification No. 13-CA(Exam)/N/2013 dated 5th July, 2013, it is hereby notified for general information that in view of the Constitu...
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Students Zone |
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Companies under scanner in NSEL case: Sachin Pilot
Posted Date : 06-Nov-2013 , 08:41:27 am | Posted By CASANSAAR
Corporate affairs minister Sachin Pilot on Tuesday said certain entities are being scrutinized to check whether they have violated any laws in the NSEL case.
National Spot Exchange (NSEL), promoted by Jignesh Shah-led FTIL, is grappling with a Rs 5,600-crore payment crisis....
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Corporate Law |
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Time Period Ends for Giving Suggestions for the 3rd & 4th Tranche of Draft Rules Under the Companies Act 2013
Posted Date : 05-Nov-2013 , 06:34:49 pm | Posted By CASANSAAR
Today i.e. November 5, 2013 was the last date for the public at large for giving suggestions/ comments to the Ministry of Corporate Affairs for the 3rd and 4th tranche of Draft Rules being framed under the Companies Act, 2013. In these 2 phases, Draft Rules have been framed on deposits, SFIO, Nation...
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Corporate Law |
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India successfully launches historic mission to Mars
Posted Date : 05-Nov-2013 , 03:48:48 pm | Posted By CASANSAAR
India has launched its first mission to Mars on Tuesday at 02:38pm (0908 GMT) from Satish Dhawan Space Centre here in Andhra Pradesh.
The spacecraft was carried onboard the indigenous PSLV-C25 rocket which will inject it into Earth's orbit after 40 minutes from lift-off
The Mar...
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General |
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Only 30 per cent of registered pay Service Tax
Posted Date : 05-Nov-2013 , 08:55:12 am | Posted By CASANSAAR
Only 30 per cent of those registered from the Service Industry pay the tax while the remaining 70 per cent do not pay either because they are not aware of their responsibility or are registered despite being out of its ambit.
Making an elaborate presentation on the need to deregister from t...
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Service Tax |
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Top 30 NPAs of PSBs account for one-third of total bad loans
Posted Date : 05-Nov-2013 , 08:44:05 am | Posted By CASANSAAR
Top 30 loan defaulters of the public sector banks account for one-third of the total gross non-performing assets of state-run lenders, according to the Reserve Bank data. The gross non-performing assets (GNPA) amount of top 30 accounts of public sector banks (PSBs) stood at Rs 63,671 ...
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Banking |
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Vodafone India stake sellers liable to pay capital gains tax
Posted Date : 05-Nov-2013 , 08:42:34 am | Posted By CASANSAAR
Indian minority shareholders in Vodafone India, including Analjit Singh, will have to pay 20 per cent capital gains tax after selling their stake to the UK-based parent company, a Finance Ministry official said. "There is a capital gain for the minority shareholders and it will be tax...
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Income Tax |
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Black Berry abandons sale process, CEO out
Posted Date : 04-Nov-2013 , 09:36:51 pm | Posted By CASANSAAR
BlackBerry abandoned its sale process on Monday, and announced it will replace its chief executive.
Fairfax, BlackBerry's largest shareholder with a 10 percent stake, said it won't buy the struggling smartphone company and take it private but said it and other investors will inject $1 billi...
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Category :
International Business |
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Beware; Income-Tax department is scanning your e-shopping lists
Posted Date : 04-Nov-2013 , 09:16:51 am | Posted By CASANSAAR
If you like shopping on the net and prefer paying cash, you may not be the only one taking a close look at the itemised bill - Indian tax authorities are now tracking online purchases to identify potential defaulters. In a country where just 3% of the more than 100 crore population pays income...
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Income Tax |
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Supreme Court sees corporate lobby against SEBI
Posted Date : 04-Nov-2013 , 09:14:39 am | Posted By CASANSAAR
The Supreme Court has dismissed many petitions in the past but rarely has the country’s apex court accused the petitioners of being “stool pigeons” of powerful corporate lobbies. That’s precisely what the judges did on Friday in a detailed 87-page order rejecting th...
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SEBI |
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CAG becomes member of UN Audit panel
Posted Date : 04-Nov-2013 , 09:10:12 am | Posted By CASANSAAR
The Comptroller and Auditor General of India Shashi Kant Sharma has been elected to the coveted United Nations Board of Auditors for a six-year term. India defeated the Philippines with a convincing margin in the election to the panel. India got the support of China and Pakistan in the elections.
&...
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Category :
International Business |
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TN: Tax filing date extension lauded
Posted Date : 04-Nov-2013 , 09:05:05 am | Posted By CASANSAAR
The Tamil Nadu Chamber of Commerce and Industry has thanked the Minister for Commercial Taxes for extending the last date for filing the annual return in Form-WW under the TN VAT Act, to December 31 permanently.
This was applicable for dealers with annual turnover of more than Rs 1 Crore. I...
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VAT |
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NSEL scam: Police to examine information on Financial Technologies backup server
Posted Date : 03-Nov-2013 , 05:36:07 pm | Posted By CASANSAAR
The Mumbai police will soon send details acquired from a backup server of Financial Technologies, the promoter of National Spot Exchange Ltd (NSEL), for forensic examination.
The details could, a senior police source said, reveal whether there was interaction via email b...
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Category :
Shares & Stock |
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IBM India to move court against I-T department's Rs 5357 crore tax notice
Posted Date : 03-Nov-2013 , 12:53:56 pm | Posted By CASANSAAR
The Indian arm of IBM said it will seek legal recourse after Indian income tax authorities issued a tax demand of a little over Rs 5,300 crore.The tax department is alleging that IBM under-reported export revenues that the American company earned in the 2008-09 financial year fro...
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Income Tax |
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All is not well with ICAI, HC notice to CBI, CVC on charges of irregularities in ICAI
Posted Date : 02-Nov-2013 , 08:34:35 am | Posted By CASANSAAR
Observing that all was not well with the functioning of the Institute of Chartered Accountants of India (ICAI), Madras High Court today ordered issue of notice to the CBI and Central Vigilance Commission on a petition alleging financial irregularities by the office-bear...
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ICAI |
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The Forward Markets Commission (FMC) writes to ICAI for e-series forensic audit
Posted Date : 01-Nov-2013 , 07:58:12 pm | Posted By CASANSAAR
The Forward Markets Commission (FMC) has written to Institute of Chartered Accountants of India (ICAI) to give a list of auditors who can be assigned the task of conducting a forensic audit of e-seriescontracts of National Spot Exchange (NSEL).
The Accountants body is likely to ...
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Category :
Auditing |
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Income Tax department to monitor movement of black money during polls in Rajasthan
Posted Date : 01-Nov-2013 , 08:24:08 am | Posted By CASANSAAR
Income Tax department has formed verifications cells in all 33 districts of Rajasthan to monitor movement of black money during the upcoming Assembly election in the state.
Three Air Intelligence Units (AIU) have also been formed at Jaipur, Jodhpur and Udaipur airports to check movement of ca...
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Income Tax |
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Brokers can retain up to Rs 10,000 in active client accounts
Posted Date : 01-Nov-2013 , 08:18:06 am | Posted By CASANSAAR
To ensure operational ease in providing services to their clients, brokers have been allowed to retain up to Rs 10,000 in trading accounts of active customers after obtaining their written consent.
As per the existing practice, the brokers were supposed to settle the funds and securities in...
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Shares & Stock |
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MCX founder Jignesh Shah resigns from board
Posted Date : 01-Nov-2013 , 08:07:56 am | Posted By CASANSAAR
Jignesh Shah, the founder and non-executive vice chairman of MCX, resigned on Thursday from the board of Multi Commodity Exchange of India Ltd (MCX), India's largest commodity bourse.
Just hours after resigning, Shah was ensconced with his core team with which he had built his financial sec...
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Shares & Stock |
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0 | Hits : 265
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Govt to come-up with inflation based certificate to neutralize impact of inflation
Posted Date : 31-Oct-2013 , 08:46:15 am | Posted By CASANSAAR
The government will soon introduce inflation-based certificate to provide some cover to households from impact of inflation, a senior Finance Ministryofficial has said. "Government of India is very soon coming-up with inflation based certificate which is aimed at neutra...
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Finance |
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Chandigarh-born software engineer Gurdeep Singh Pall named Skype Vice-President
Posted Date : 30-Oct-2013 , 08:48:19 pm | Posted By CASANSAAR
Chandigarh-born software engineer Gurdeep Singh Pall has been named as the corporate vice president of Skype, a popular and free international voiceover and messaging service, by Microsoft Corporation, its developer.
Pall, 46, studied in Chandigarh's St John's school before completing his e...
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International Business |
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Application Form for the Information Systems Audit (ISA) Assessment Test – November, 2013 [Last Date-12th November, 2013]
Posted Date : 30-Oct-2013 , 12:25:48 pm | Posted By CASANSAAR
Application Form for the Information Systems Audit (ISA) Assessment Test – November, 2013 [Last Date-12th November, 2013]
Online Application Form
Hard Copy Application Form
Source :- ICAI...
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ICAI |
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Will The NFRA Eclipse The ICAI?
Posted Date : 30-Oct-2013 , 08:42:39 am | Posted By CASANSAAR
Ten years ago the Enron scam prompted the Sarbanes Oxley Act with measures to improve governance standards in corporate America and so was born the Public Company Accounting Oversight Board. PCAOB oversees the audits of public companies, has 2363 accounting firms registered with it, a staff of ...
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ICAI |
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0 | Hits : 852
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Not-for-profit companies under govt scanner for flouting norms
Posted Date : 30-Oct-2013 , 08:38:46 am | Posted By CASANSAAR
Companies set up with an express 'not-for-profit' charter have come under government scrutiny for going against that mandate. The finance ministry has sought a review of the regulatory regime for such so-called Section 25 companies under the Companies Act, including foreign direc...
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Income Tax |
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Direct Taxes Code (DTC) bill likely in winter session: FM
Posted Date : 29-Oct-2013 , 08:59:31 pm | Posted By CASANSAAR
The Direct Taxes Code Bill, which seeks to replace the archaic Income Tax Act, is likely to be placed in Parliament during the winter session, Finance Minister P Chidambaram said today.
“We are trying to bring DTC in the next session,” the minister told reporters here.
...
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Income Tax |
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MCA 21 Portal Crosses the Milestone of 1 Lakh Filings on One Single Day
Posted Date : 29-Oct-2013 , 07:18:15 pm | Posted By CASANSAAR
The MCA 21 portal of the Ministry of Corporate Affairs crossed a significant milestone of 1,00,000 filings on one single day on 26th October 2013, surpassing the previous best of 88,119 filings last year (on 21/11/2012). This has been made possible by the efforts of the Ministry in scaling up the se...
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Corporate Law |
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0 | Hits : 348
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RBI hikes Repo Rate by 0.25% to 7.75, CRR unchanged
Posted Date : 29-Oct-2013 , 11:21:17 am | Posted By CASANSAAR
The Reserve Bank on Tuesday hiked the repo rate by 0.25 percent to 7.75 percent in its second quarter monetary policy review in a bid to anchor inflationary expectations.
The central bank, however, slashed the Marginal Standing Facility (MSF) rate by 0.25 to 8.75 percent. The RBI has left the ...
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RBI |
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