Sebi induct 75 professionals in new search & seizure division
Posted Date : 30-Aug-2013 , 08:32:51 am | Posted By CASANSAAR
Market regulator Sebi is in the process of hiring 75 people, its biggest recruitment drive in a decade that comes amid a move to set up new divisions for search and seizure, and attachment of assets, among others, at a time the new securities law bill approved by the Lok Sabha gives i...
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SEBI |
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RBI Governor blames Govt for rupee fall
Posted Date : 29-Aug-2013 , 09:48:42 pm | Posted By CASANSAAR
Reserve Bank of India Governor D Subbarao has attributed the sharp depreciation of the rupee over the last three months to the government’s failure to take care of domestic structural factors such as a high current account deficit (CAD), which is well above the “sustainable lev...
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Income Tax |
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0 | Hits : 427
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ICAI to find jobs for 5,000 Chartered Accountant passouts
Posted Date : 29-Aug-2013 , 08:33:59 am | Posted By CASANSAAR
Credited as the cheapest course, at Rs 45,000, the Institute of Chartered Accountants of India (ICAI), has set out to promote the course and hold campus placement programmes in various cities.
ICAI, the statutory body for regulation of chartered accountants in India, has set out to place ...
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Income Tax |
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0 | Hits : 2962
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Finance Ministry sends letters to indirect tax defaulters
Posted Date : 29-Aug-2013 , 08:22:05 am | Posted By CASANSAAR
For the first time, the Finance Ministry has started sending letters to service tax, customs and excise duty defaulters asking them to come clean on certain dubious transactions carried out by them. The letters are being issued by two lead intelligence agencies under the Finance Minis...
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Service Tax |
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0 | Hits : 465
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India has lost confidence of the world: Ratan Tata
Posted Date : 28-Aug-2013 , 08:23:43 pm | Posted By CASANSAAR
With the economy in distress, leading industrialist Ratan Tata has said India has lost the confidence of the world and the government has been slow to recognise it.
He also said the government has “swayed” under the influence of vested interests in private sector and policies ha...
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Finance |
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0 | Hits : 633
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EPFO to launch online facility to view updated accounts
Posted Date : 28-Aug-2013 , 05:51:55 pm | Posted By CASANSAAR
Retirement fund manager EPFO is all set to launch a facility to provide online updated account statements on real time basis for its over 5 crore subscribers soon after the Monsoon Session of Parliament.
At present, the Employees' Provident Fund Organisation (EPFO) has to provide annual PF account ...
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General |
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0 | Hits : 350
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Rupee hits historic low of 68.70 against dollar, Sensex tanks 500 points
Posted Date : 28-Aug-2013 , 10:58:21 am | Posted By CASANSAAR
The S&P BSE Sensex slipped over 500 points, while the broader 50-share index Nifty fell over 3 per cent to trade below its key psychological level of 5,150.Oil prices have shot up recently after the US indicated a possible military action on Syriafor its alleged use of c...
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International Business |
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0 | Hits : 268
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Chartered Accountant arrested for Fraud
Posted Date : 28-Aug-2013 , 08:46:18 am | Posted By CASANSAAR
A Chartered Accountant (CA) has been taken into custody by the Central Crime Station (CCS) sleuths for duping a bank to the tune of Rs 12 crore.
According to CCS, a case was registered against Sai Baba, a chartered accountant from Guntur under various sections, including 42...
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ICAI |
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0 | Hits : 3456
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FAQ – Service Tax return (ST3) for Oct, 2012 – Mar, 2013
Posted Date : 28-Aug-2013 , 08:33:57 am | Posted By CASANSAAR
I. GENERAL
The ST-3 Return for the period, Oct, 2012- Mar, 2013 is a quarterly or half-yearly?
It is a half yearly return.
Is there any change in the Format of ST3 return for the return period Oct, 2012 -March, 2013 when compared to July – Sept, 2012 return?
Yes. July &ndas...
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Service Tax |
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0 | Hits : 2315
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Members facing difficulty in registering themselves as “Tax professionals” in the e-filing portal
Posted Date : 27-Aug-2013 , 04:16:12 pm | Posted By CASANSAAR
As the members are aware, e-filing of Tax Audit Reports has been made mandatory from the AY2013-14 onwards vide Notification No. 34/2013 dated 01-05-2013. In order to e-file Tax AuditReport a Chartered Accountant requires to register himself in the e-filing portal as a “Taxprofessional”....
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Category :
ICAI |
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0 | Hits : 1329
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Rupee sinks to new low, breaches 66/dollar
Posted Date : 27-Aug-2013 , 04:08:45 pm | Posted By CASANSAAR
The rupee on Tuesday plunged further by 177 paise to record low of 66.07 against the US dollar in afternoon trade on the Interbank Foreign Exchange on strong demand for the American currency from banks and importers and persistent capital outflows.
The rupee had ended down 110 paise or 1.74 p...
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International Business |
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0 | Hits : 264
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More CAs needed for Banks and Cooperatives- ICAI
Posted Date : 27-Aug-2013 , 08:48:47 am | Posted By CASANSAAR
An action plan has been prepared to extend the services of Chartered Accountants (CA) to banks and cooperatives in a big way, and the Southern India Regional Council (SIRC) of the Institute of Chartered Accountants of India (ICAI) is holding talks with heads of various banks in the southern States i...
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ICAI |
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0 | Hits : 2343
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RBI decreases dollar limit for students going abroad
Posted Date : 27-Aug-2013 , 08:45:05 am | Posted By CASANSAAR
Students aiming for higher education in foreign universities are a bit nervous about their future. A rapidly depreciating rupee was the first blow. The second one was from the ReserveBank of India (RBI) a few days ago. In its bid to arrest the free-falling rupee, the ba...
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Category :
Students Zone |
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0 | Hits : 553
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CAs must rely on audited LLP financials: ICAI
Posted Date : 27-Aug-2013 , 08:40:46 am | Posted By CASANSAAR
Chartered Accountants (CAs) will have to use audited financials of non-corporates, including limited liability partnerships (LLPs), to certify their adjusted total income figures so as to help them pay the mandatory alternate minimum tax (AMT). According to the latest guidance note released by the I...
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ICAI |
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0 | Hits : 464
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Online version of Service Tax return (ST-3) for October 12 to March 13
Posted Date : 27-Aug-2013 , 08:27:54 am | Posted By CASANSAAR
The online version of the Service Taxreturn (ST-3) for the period October’12 to March’13 is now available for e-filing in ACES. Assessees can also use the offline utility by downloading the latest version from
http://acesdownload.nic.in/ or
from ‘DOWNLOA...
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Category :
Service Tax |
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0 | Hits : 662
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Government sets up tax reform Commission
Posted Date : 26-Aug-2013 , 08:16:49 pm | Posted By CASANSAAR
The government Monday set up a commission under the chairmanship of Parthasarathy Shome, advisor to finance minister, to suggest reforms in tax administration aimed at widening the tax base and enhancing compliance.
The “Tax Administration Reform Commission” has been asked to submit its...
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Category :
Income Tax |
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0 | Hits : 190
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New rules for companies: Public comments to be sought
Posted Date : 26-Aug-2013 , 08:12:39 am | Posted By CASANSAAR
The government plans to adopt a transparent and interactive process tofinalise a detailed set of rules to be adopted under the new Companies Bill, and will soon seek comments from India Inc and general public in this regard.The new Companies Bill, which entails sweeping chan...
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Category :
Corporate Law |
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0 | Hits : 741
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Public sector banks faces shortage of 56,000 employees
Posted Date : 25-Aug-2013 , 06:35:49 pm | Posted By CASANSAAR
Public sector banks face a shortage of 56,022 personnel across various cadres and the lenders are at different stages of filling these posts, official sources said.
In the officer category, 25 public sector banks have 23,794 vacancies as of March, 2013. Of this, 5,815 officer level posts are inBank...
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Category :
Banking |
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0 | Hits : 583
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Deals on NSEL with missing, inadequate stocks: Tax department
Posted Date : 24-Aug-2013 , 07:42:56 pm | Posted By CASANSAAR
The National Spot Exchange (NSEL) crisis has deepened with the tax department confirming that transactions on the bourse were made against non-existent to inadequate stocks. "In some cases there are no stocks, in others the quantity of thestocks is below that claimed by some of the b...
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Category :
Income Tax |
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0 | Hits : 229
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Password reset problem at income tax efiling website
Posted Date : 24-Aug-2013 , 07:36:43 pm | Posted By CASANSAAR
Please note that wef 06/08/2013 you will not be able to change income tax user id password since now department will send reset password only to the registered email id.
That implies in order to change the password client has to visit his previous CA or Advocate . That change of meth...
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Category :
Income Tax |
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3 | Hits : 2266
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Film producer Samir Karnik arrested for service tax evasion
Posted Date : 24-Aug-2013 , 08:33:48 am | Posted By CASANSAAR
Bollywood producer and directorSamir Karnik was today arrested by Service Tax Department for alleged tax evasion of Rs 1.18 crore and was later released on bail by a court.The anti-evasion team led by Deputy Commissioner, Service Tax, Samir Wankhede found that Karnik had pr...
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Category :
Service Tax |
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0 | Hits : 601
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Follow uniform holiday calender for CTS cheque clearing: RBI
Posted Date : 24-Aug-2013 , 08:08:56 am | Posted By CASANSAAR
The Reserve Bank today directed banks to adopt a uniform holidays calender to streamline cheque clearing system forCheque Truncation System (CTS) centres in New Delhi, Chennai and Mumbai."The CTS centres in New Delhi, Chennai and Mumbai will adopt RTGS holidays as ...
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Category :
Banking |
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0 | Hits : 443
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Nasdaq glitch triggers review of Indian stock exchanges by Sebi
Posted Date : 24-Aug-2013 , 08:07:31 am | Posted By CASANSAAR
In the wake of an over three-hour technical glitch at the US bourse Nasdaq, the Securities and Exchange Board of India (Sebi) is reviewing trading and risk management systems at stock exchanges in India to reassure their robustness.
While the systems in place at leading Indian bourses a...
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SEBI |
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0 | Hits : 208
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RBI fines 6 banks for violation of KYC norms
Posted Date : 23-Aug-2013 , 07:32:29 pm | Posted By CASANSAAR
The Reserve Bank of India penalised six public sector banks of Rs 6.5 crore for violating Know Your Customer (KYC)/Anti Money Laundering (AML) guidelines of the central bank.
The six banks fined were Dena Bank (Rs 2 crore), Corporation Bank (Rs 1.5 crore), IDBI Bank and Indian Bank (Rs 1 cr...
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Category :
Banking |
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0 | Hits : 796
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NSEL crisis: ICAI offers help for investigation
Posted Date : 23-Aug-2013 , 12:19:48 pm | Posted By CASANSAAR
National Spot Exchange Limited's (NSEL) books could face yet another round of audit as the disciplinary committee of Institute of Chartered Accountants of India (ICAI), which regulates close to 90,000 CA professionals, is open to initiating suo moto action to find out lapses on part of aud...
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ICAI |
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0 | Hits : 560
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New companies bill likely to get Presidential assent in few days
Posted Date : 23-Aug-2013 , 07:49:12 am | Posted By CASANSAAR
The new legislation Bill, which will replace the nearly six-decade old Companies Act, is likely to get the Presidential assent in the next few days, a senior government official said today. The much-awaited Companies Bill was approved by the Rajya Sabha on August 8. The legislation ha...
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Category :
Corporate Law |
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0 | Hits : 434
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Nationwide IT raids on premises of NSEL members
Posted Date : 22-Aug-2013 , 09:14:08 pm | Posted By CASANSAAR
The Income Tax department is conducting searches on the business premises of two dozen members of the National Spot Exchange Limited (NSEL) which is facing alleged irregularity charges in settling Rs 5,600 crore dues to investors.
Multiple teams of I-T sleuths visited the offi...
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Category :
Income Tax |
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0 | Hits : 349
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Announcement regarding Request for Suggestions on Revision of the Guidance Note on Audit of Banks
Posted Date : 22-Aug-2013 , 08:54:42 pm | Posted By CASANSAAR
1. The Guidance Note on Audit of Banks, brought out by the Auditing & Assurance Standards Board (AASB) of the ICAI is an important publication providing comprehensive guidance to the members carrying out audits of banks and bank branches. Improving the quality of audit of banks is on...
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Category :
ICAI |
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1 | Hits : 321
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Rupee hits fresh all-time low of 65.50 Vs dollar
Posted Date : 22-Aug-2013 , 11:42:02 am | Posted By CASANSAAR
he rupee on Thursday plunged further by 142 paise to hit a fresh record low of 65.50 against the US dollar in mid-session trade on the Interbank Foreign Exchange on strong demand for the American currency from banks and importers.
The rupee had ended at 64.11 after hitting a fresh low of 64.5...
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Category :
International Business |
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0 | Hits : 299
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NSEL Auditor in the dock over stock positions
Posted Date : 22-Aug-2013 , 08:47:37 am | Posted By CASANSAAR
An association of brokers led by Motilal Oswal and Anand Rathi is planning to take the auditors of National Spot Exchange Ltd (NSEL) to court for providing an incorrect picture of the exchange’s stocks. It would also lodge a complaint with The Institute of Chartered Accountants of In...
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Category :
Auditing |
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0 | Hits : 1027
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