Government cuts tariff value on imported gold, silver
Posted Date : 17-Oct-2013 , 03:48:00 pm | Posted By CASANSAAR
The government reduced the import tariff value of gold and silver to $418 per 10 gram and $699 per kg, respectively, in line with global rates of the precious metals. The tariff value, the base price at which the customs duty is determined to prevent under-invoicing, stood a...
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Custom |
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Non-recovery of refunds: Income Tax dept may begin probe
Posted Date : 17-Oct-2013 , 08:14:02 am | Posted By CASANSAAR
The Income Tax department may start an inquiry into alleged discrepancies in filing of tax returns of some of Madhya Pradesh ministers pointed out by an audit report. The Income Tax department has got some documents pertaining to the alleged lapses and is in the process of a...
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Income Tax |
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Clarify NCD norms in new companies law: Sebi asks corporate affairs ministry
Posted Date : 17-Oct-2013 , 08:13:07 am | Posted By CASANSAAR
Market regulator Securities and Exchange Board of India (SEBI) has asked the corporate affairs ministry to clarify the applicability of the new companies law on firms with listed non-convertible debt securities or NCDs. Companies like HDFC, Power FinanceCorporation, Sundaram Finance a...
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SEBI |
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IT returns: Here’s how you can tackle a delay in tax refunds
Posted Date : 16-Oct-2013 , 05:00:45 pm | Posted By CASANSAAR
Many taxpayers, who have filed their returnsand sent across their verification form in June or July, usually get the acknowledgement and refunds around this time of the year. However, quite often, many taxpayers complain that they did not get the intimation of the receipt of their ITR-V(ve...
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Income Tax |
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CBEC to plead SC for relook at verdict on bailable offences
Posted Date : 16-Oct-2013 , 08:28:49 am | Posted By CASANSAAR
The Central Board of Excise and Customs (CBEC) will make a last-ditch effort to convince the Supreme Court to reconsider its judgement which held that offences under the Customs Act arebailable and an accused cannot be arrested without a warrant.
A review petition filed by ...
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Custom |
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SEBI panel bats for woman directors in companies
Posted Date : 16-Oct-2013 , 08:25:14 am | Posted By CASANSAAR
Companies will now have to explain why they do not have a woman director on their boards.
Companies should at least have one director, preferably independent, on board, according to SEBI’s Primary Market Advisory Committee (PMAC).
The move is to enrich the diversity of compan...
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SEBI |
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BDO International World's Fifth largest Auditing and Accounting Firm re-enters India for 3rd time
Posted Date : 15-Oct-2013 , 08:22:36 am | Posted By CASANSAAR
The world's fifth largest auditing and accounting firm BDOInternational, which has just re-entered the country for the third time by roping in MZSK & Associates as its new partner, is bullish about the market and plans to nearly treble head-count to around 1,200 over the next six month...
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Income Tax |
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RIL first private company to earn over Rs 1 lakh crore in a quarter
Posted Date : 15-Oct-2013 , 08:17:16 am | Posted By CASANSAAR
The Mukesh Ambani-led Reliance Industries (RIL) on Monday became the first private sector firm to report revenues exceeding Rs 1 lakh crore in a quarter, joining its public sector peer Indian Oil Corporation ( IOC) which is the only other Indian company with the distinction ...
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Finance |
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Sebi proposes tougher norms on insider trading, illegal money raising
Posted Date : 15-Oct-2013 , 08:06:01 am | Posted By CASANSAAR
Sebi proposed new norms for settlement of administrative and civil proceedings against suspected market defaulters, except in cases of serious violations like illicit pooling of funds from investors, insider trading and fraudulent and unfair trades. The list of violations that can't b...
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SEBI |
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Details of Roll Nos. and Examination Centres pertaining to PQC November, 2013 Examinations - ICAI
Posted Date : 14-Oct-2013 , 08:56:01 pm | Posted By CASANSAAR
MAC (Part-I)
CMC (Part-I)
TMC (Part-I)
DIRM
ITL&WTO (Part-I)
Source :- ICAI...
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ICAI |
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NSEL fiasco: Forward Markets Commission to order special audit of Multi Commodity Exchange
Posted Date : 14-Oct-2013 , 08:57:16 am | Posted By CASANSAAR
Amid arrests of National Spot Exchange Ltd (NSEL) officials and unraveling of the fraud, the commoditymarket regulator is preparing to widen its probe. Forward Markets Commission (FMC), the regulatory authority, has decided to order a special audit of Multi Commodity Exchange(MCX...
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Category :
Auditing |
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Sebi working on guidelines for social media use in capital mkt
Posted Date : 13-Oct-2013 , 07:33:39 pm | Posted By CASANSAAR
SEBI is looking to frame guidelines to check the possible misuse of social media in capital markets so as to protect investor interest.
The move is a part of efforts to curb manipulative practices in the market through the use of social media.
That apart, with increasing popula...
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SEBI |
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1 | Hits : 234
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Indian auditors get window to global practice
Posted Date : 12-Oct-2013 , 08:20:31 am | Posted By CASANSAAR
There is some good news for chartered accountancy students. Aiming to place Indian chartered accountants on a par with their global peers, the Institute of Chartered Accountants of India (ICAI) has collaborated with its British counterpart - the Institute of Chartered Accountants in England&nbs...
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Auditing |
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Uniform capital gains tax rule for all: Delhi High Court
Posted Date : 12-Oct-2013 , 08:19:30 am | Posted By CASANSAAR
Residents and non-residents should pay same tax on capital gains from sale of securities, according to a Delhi High Court ruling that is expected to clear the fog on a tax question that foreign companies face. Long-term gains from off-market sale ofsecurities attract a tax of 10%...
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Income Tax |
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Filing online PF account transfer claims become a reality
Posted Date : 12-Oct-2013 , 08:18:37 am | Posted By CASANSAAR
The filing of online provident fund account transfer claims on changing jobs for subscribers of the retirement fund body EPFO has become a reality now. The facility has been made available as the Employees' Provident Fund Organisation (EPFO) has launched its online transfer claim port...
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Category :
General |
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New RTGS system to be operational from Oct 19: RBI
Posted Date : 12-Oct-2013 , 08:17:49 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) today said the new RTGS system, a mechanism that transfers money from one bank to another in real time, will be operational from October 19. "The new RTGS system will be operationalised on October 19 and the RTGS System Regulations 2013 will come into e...
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RBI |
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FAQs on Admit Cards for November 2013 Exams
Posted Date : 11-Oct-2013 , 09:29:14 pm | Posted By CASANSAAR
1. How do I get my admit card?
Admit cards for November 2013 exam are hosted on http://www.icai.nic.in. Candidates may print their admit cards from the website.
Physical admit cards for November 2013 examination are also sent by post, as an add...
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Students Zone |
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RBI relaxes foreign borrowing norms for banks
Posted Date : 11-Oct-2013 , 04:28:07 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) has further relaxed foreign borrowing norms for banks under the recently opened swap window, allowing them to raise funds through their head offices and correspondents.
Until now, the window was limited to the banks' overseas branches.
"Authorised dealer category...
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RBI |
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First Leasing auditors resign after red flag on accounts, company to go for forensic audit
Posted Date : 11-Oct-2013 , 08:50:49 am | Posted By CASANSAAR
M/s Sarathy and Balu has resigned as the statutory auditor of the troubled First Leasing Company of India Ltd, days after red-flagging the accounts of the joint venture between Farouk Irani and Spic Group's AC Muthiah. The company, disclosing this in a late Thursday eve...
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Category :
Auditing |
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About Rs 600 cr service tax evasion detected by Finance Ministry
Posted Date : 11-Oct-2013 , 08:48:18 am | Posted By CASANSAAR
In its effort to check any leakage of indirect tax revenue, the Finance Ministry has detected service tax evasion of about Rs 600 crore between January and July this year. As many as 569 cases were detected by various central excise and service taxformations across the ...
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Category :
Service Tax |
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Sebi plans regulation to make sure companies implement disclosures
Posted Date : 11-Oct-2013 , 08:39:32 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) plans to make companies making disclosures in stock exchanges stick to them. Sebi has found that companies sometimes make announcements that send the stock prices soaring but the actual implementation of those remains unfinished for years.
"...
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SEBI |
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Zone-Shifting of Candidates for November - 2013 CA Exams
Posted Date : 10-Oct-2013 , 12:48:05 pm | Posted By CASANSAAR
IMPORTANT ANNOUNCEMENT
September 30th, 2013
Subject: Zone-shifting of candidates for November - 2013 CA Exams
Due to paucity of accommodation in certain Zones opted by the candidates in the cities of Bangalore, Chennai, Delhi, Indore and Mumbai, some of the candidates have bee...
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Students Zone |
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Service tax applicable on food, beverages served at pool side
Posted Date : 10-Oct-2013 , 08:43:50 am | Posted By CASANSAAR
Food and beverages served at swimming pool side in a hotel will attract service tax, the Finance Ministry has said. "Services provided by specified restaurant in other areas of the hotel are liable for service tax," said the Central Board of Excise and Customs (CBEC) while clarifying ...
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Service Tax |
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Another 10 lakh Income Tax defaulters identified
Posted Date : 10-Oct-2013 , 08:38:29 am | Posted By CASANSAAR
The Income Tax (I-T) department has identified 10 lakh more high-risk individuals, who have made significant cash transactions through their credit cards orinvestments but the same had not been reflecting in their I-T returns. High-risk individuals also include those who hav...
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Income Tax |
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0% EMI Schemes: No issues if done transparently, says RBI
Posted Date : 10-Oct-2013 , 08:36:52 am | Posted By CASANSAAR
The Reserve Bank today said it did not have any problem with banks offering loans to credit cardholders while purchasing goods or services but there needs to be transparency with the process. "There is no ban on giving loans on credit cards. Don't charge 12 per cent actually and claim...
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RBI |
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Total Number of Companies in the Official Registry
Posted Date : 09-Oct-2013 , 07:10:49 pm | Posted By CASANSAAR
As per the records of the Ministry of Corporate Affairs there were a total of 13.45 lakh companies in the official Registry as on 31st August 2013. However, out of these as many as 2.57 lakh companies have been closed and there are 30,127 companies that are in the process of being closed. Also, as m...
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Corporate Law |
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Notification - Special Examination, due to the Legislative Assembly Elections of Chhattisgarh State
Posted Date : 09-Oct-2013 , 02:11:38 pm | Posted By CASANSAAR
No.13-CA(Exam)/N/2013/II: In 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 theElection to the Legislative Assembly of Chhattisgarh State, the Chartered Accountants Final (Group II)...
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Students Zone |
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Penal provisions for the members of the Institute who had not complied with their CPE Hours requirements for the block period of 3 years
Posted Date : 09-Oct-2013 , 02:08:15 pm | Posted By CASANSAAR
For kind information of the membersSub : Penal provisions for the members of the Institute who had not complied with their CPE Hours requirements for the block period of 3 years(1-1-2011 to 31-12-2013)
In order to function the system of mandatory CPE effective, the Council of the Instit...
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ICAI |
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NSEL scam : Investors seek ICAI action against Auditors
Posted Date : 09-Oct-2013 , 08:25:22 am | Posted By CASANSAAR
In a separate development, the NSEL Investors' Forum, whose members have petitioned the Bombay HC against NSEL and its promoter FT, on Tuesday urged the Institute of Chartered Accountants of India (ICAI) to take disciplinary action against Rajesh Hiranandani, partner,Deloitte Has...
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Income Tax |
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SEBI to accept UIDAI electronic KYC as address, identity proof
Posted Date : 09-Oct-2013 , 08:20:30 am | Posted By CASANSAAR
Market regulator Sebi today said it will accept e-KYC (Know Your Client) service of UIDAI as a valid proof of identity and address for opening accounts with brokerage firms, mutual funds, portfolio managers and other capital market entities. 'Aadhaar...
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SEBI |
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