Former Council Member of ICAI also wants to open a Bank
Posted Date : 03-Jul-2013 , 08:41:09 am | Posted By CASANSAAR
Until a couple of years ago Vinod Jain, a familiar name in the chartered accountants community, worked out of a small office in Nehru Place, a congested commercial complex in South Delhi, now known more for assembled computers and pirated software. But, that was when the INMACS office...
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ICAI |
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Services Provided to Special Economic Zone (SEZ) Authorised Operations Exempted From Service Tax
Posted Date : 03-Jul-2013 , 08:11:51 am | Posted By CASANSAAR
The Central Government has decided to exempt the services on which service tax is leviable under section 66B of the said Act, received by a unit located in a Special Economic Zone (hereinafter referred to as SEZ Unit) or Developer of SEZ ( hereinafter referred to as the Developer) and used for the a...
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Service Tax |
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0 | Hits : 413
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No ceiling on number of new bank licences: FM
Posted Date : 02-Jul-2013 , 05:17:02 pm | Posted By CASANSAAR
With 26 public and private sector companies applying for banklicences, Finance Minister P Chidambaramhas said that there was no ceiling on the number of entities which can be permitted to operate a bank. "I don't think there is a ceiling. I don't think there is a number...
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Banking |
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0 | Hits : 410
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India launches first navigation satellite IRNSS-1A
Posted Date : 02-Jul-2013 , 11:42:24 am | Posted By CASANSAAR
In a landmark late night journey into a new era of space application, India today successfully launched its first dedicated navigation satellite using the Polar Satellite Launch Vehicle which blasted off from the Satish Dhawan Space Centre here.Precisely at 11.41 pm, India's workhorse PSLV...
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General |
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Download New Income Tax Return Forms
Posted Date : 02-Jul-2013 , 08:15:38 am | Posted By CASANSAAR
New Income Tax Return Forms
A.Y. 2010-11
A.Y. 2011-12
A.Y. 2012-13
A.Y. 2013-14
ITR - 1
SARAL - II (ITR-1)
English Instructions Hindi Instructions
ITR-1 SAHAJ Indian Individual Income tax ReturnEnglish Hindi Print Specifica...
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Category :
Income Tax |
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0 | Hits : 939
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The Institute of Chartered Accountants of India celebrated its 65th Foundation Day
Posted Date : 02-Jul-2013 , 08:09:42 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI), India’s premier & world second largest accounting body, celebrated its 65th Foundation Day today. A function was organized at Vigyan Bhawan, New Delhi on July 1, 2013.
Union Minister of State(I/C), Shri Sachin Pilot was...
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ICAI |
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0 | Hits : 502
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RBI receives 26 applications for new bank licences
Posted Date : 02-Jul-2013 , 08:00:18 am | Posted By CASANSAAR
The Reserve Bank of India has received 26 applications for new banking licences until Monday, the deadline for making a pitch, with a mix of big corporate houses led by the Tatas, the Aditya Birla group, the Rahul Bajaj group, Videocon, the Anil Ambani group and Larsen & Toubro in the race to se...
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RBI |
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Executive pay should reflect company performance: SEBI
Posted Date : 02-Jul-2013 , 07:30:52 am | Posted By CASANSAAR
Calling for a need to have 'corporate democracy' in the country, capital market regulator Sebi today said it is not fair for top executives to get high compensations at companies that are not performing well.At the same time, Sebi has ruled out any 'disruptive' regulations to force anythin...
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SEBI |
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0 | Hits : 262
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Key features of FUV version 2.134 applicable wef 01.07.2013
Posted Date : 01-Jul-2013 , 07:24:36 pm | Posted By CASANSAAR
Key features of FVU 2.134 is as follows:
1. Addition of filler fields in:
- Deductor details (BH record)- Challan details (CD record)- Deductee details (DD record)- Salary details (SD record). Applicable in case of 24Q, Q4.
2. Quarterly TDS/TCS statement (regular ...
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Category :
Income Tax |
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0 | Hits : 517
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Mahindra Satyam shares to stop trading from July 4
Posted Date : 01-Jul-2013 , 04:43:01 pm | Posted By CASANSAAR
Mahindra Satyam (erstwhile Satyam Computer Services Ltd), which merged into Tech Mahindra last month, will become history in the records of BSE and National Stock Exchange (NSE) as trading of the company's scrip is likely to end from July 4.
"Trading of Satyam (stocks) will end on July 3 an...
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Category :
Merger & Acquisitions |
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0 | Hits : 480
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Happy Chartered Accountants Day (01 July 1949 History of the Institute of Chartered Accountants of India)
Posted Date : 01-Jul-2013 , 08:23:01 am | Posted By CASANSAAR
1st JULY 1949 HISTORY OF THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
The Companies Act, 1913 passed in pre-independent India prescribed the appointment of a formal Auditor with prescribed qualifications to audit such records. In order to act as an auditor a person had to acquire a restricted ...
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Category :
ICAI |
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0 | Hits : 1391
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CA is one professional who has to keep awake even if others sleep - Narendra Modi
Posted Date : 30-Jun-2013 , 08:34:43 am | Posted By CASANSAAR
Gujarat Chief Minister Narendra Modi called upon the chartered accountants to make Indian social and economic conditions stronger with the help of their professional skill. He also asked them to free India from the malaise of black money.
Inaugurating the Chartered Accountants Students Nati...
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Category :
ICAI |
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0 | Hits : 1835
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Breather for IT cos: CBDT withdraws a controversial circular
Posted Date : 29-Jun-2013 , 10:27:36 pm | Posted By CASANSAAR
In a breather to the IT industry, the Income Tax Department today announced withdrawal of a controversial circular and modification of another one relating to taxation of R&D centres, which play a key role in software development. While the circular relating to adoption ...
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Category :
Income Tax |
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0 | Hits : 595
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P Sathasivam to be new Chief Justice of India
Posted Date : 29-Jun-2013 , 10:08:39 pm | Posted By CASANSAAR
Justice P Sathasivam will replace Altamas Kabir as the new chief justice of India when the latter steps down on July 19, 2013. A formal notification to this effect is expected anytime soon from Rashtrapati Bhavan.Sathasivam, who was elevated to the top court on August 21, 2007, w...
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Category :
General |
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0 | Hits : 240
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Five easy steps to book rail ticket through SMS
Posted Date : 29-Jun-2013 , 04:40:19 pm | Posted By CASANSAAR
Indian Railways on Friday launched SMS-based ticketing system to tackle the rush at the booking counters.
Indian Railways Catering and Tourism Corporation (IRCTC) launched the ticket booking which can be done through non-internet based mobile.
Government is hoping that this new system will h...
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General |
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0 | Hits : 1389
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Service tax on film distribution, sale of rights to TV upheld
Posted Date : 29-Jun-2013 , 11:29:47 am | Posted By CASANSAAR
The Madras High Court has upheld the levy of service tax on income generated from temporary transfer of rights to use cinematographic films. This means that service tax has to be paid for distribution of films and selling of rights to television. Such “temporary transfer” or permission t...
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Category :
Service Tax |
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0 | Hits : 485
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Banks should have separate wealth management unit: RBI draft
Posted Date : 29-Jun-2013 , 11:28:19 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has proposed tough norms for banks involved in wealth and portfolio management services (W/PMS), mandating them to segregate sales and advisory activity, and threatened to bar them from money markets for violation of guidelines. It plans to put a blanket ban on t...
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Category :
Banking |
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0 | Hits : 209
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ICAI councils fight shy of transparency clause
Posted Date : 28-Jun-2013 , 08:38:41 am | Posted By CASANSAAR
Two regional bodies within Institute ofChartered Accountants of India (ICAI), the apex body of chartered accountants supposed to enforce transparency in financial world, have shown themselves wary of similar transparency. They steered clear of a proposal to impose a disclosure norm for their el...
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Category :
ICAI |
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1 | Hits : 813
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RBI cautions banks against mis-selling insurance products
Posted Date : 28-Jun-2013 , 08:34:48 am | Posted By CASANSAAR
The Reserve Bank of India (RBI), in its financial stability report has raised concern about the conduct of banks while distributinginsurance products. RBI said in some cases, it was observed banks did not have a clear segregation of duties of marketing personnel from other branch...
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RBI |
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0 | Hits : 256
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Income Tax reminders on way to 12 lakh assessees for not filing returns
Posted Date : 27-Jun-2013 , 10:54:51 pm | Posted By CASANSAAR
Tightening its noose on those who do not pay taxes, the Income Tax Department has started sending letters around 12 lakh assessees who are high spenders but do not file returns, a top finance ministry official said."The I-T department has started follow up of around 12 lakh asses...
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Category :
Income Tax |
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1 | Hits : 653
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CA Day Celebrations of the ICAI - 1st July, 2013
Posted Date : 27-Jun-2013 , 08:39:02 am | Posted By CASANSAAR
ICAI celebrates its Foundation Day as the Chartered Accountants’ Day on 1st July every year. This year, the Chartered Accountants’ Day Celebrations of the ICAI will be held at 4.00 P.M. on 1st July, 2013 in the `Plenary Hall’, Vigyan Bhawan, New Delhi. H...
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ICAI |
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1 | Hits : 1005
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Download ITR – 5 for Online Filing AY 2013-14
Posted Date : 27-Jun-2013 , 08:32:39 am | Posted By CASANSAAR
Income Tax Department has releasedIncome Tax Return (ITR ) 5 as Applicable for Partnership Firms, AOPs, LLPs and BOIs for e-filing of Returns for A.Y. 2013-14 of Financial Year 2012-13. ITR form can be downloaded from the website https://incometaxindiaefili...
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Category :
Income Tax |
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0 | Hits : 597
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Tax relief for investments by Sebi-okayed angel funds
Posted Date : 27-Jun-2013 , 08:30:06 am | Posted By CASANSAAR
Sebi's formal recognition on June 25 to a separate class of investors—angel investor funds— resolves to a certain extent the problem of "angel tax". However, if a high networth angel individual invests at a premium in a startup, this tax issue continues to exist.
The Finance...
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Category :
SEBI |
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0 | Hits : 232
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RBI allows use of ECB fund for import of services
Posted Date : 27-Jun-2013 , 08:27:23 am | Posted By CASANSAAR
Amid declining value of rupee, the Reserve Bank today relaxed ECB norms and allowed companies to use the overseas debt to pay for import of services, technical know-how and licence fee as part of capital goods imports.
Currently, eligible entities can raise ECB (external commercial borrowing) ...
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Category :
SEBI |
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0 | Hits : 297
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Selling ice-cream is Service, must be taxed more: Tax authorities
Posted Date : 26-Jun-2013 , 08:19:53 am | Posted By CASANSAAR
Is an ice-cream a product or a service? Well, you are in for a surprise if you think that it's a product. The tax authorities feel that the ice-cream served by the likes ofAmul, Vadilal, Kwality Walls, Baskin Robbins and a host of others retail vends or parlours constitute a ...
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Category :
Service Tax |
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0 | Hits : 1194
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CA seeks injunction on regional body meeting
Posted Date : 26-Jun-2013 , 07:17:39 am | Posted By CASANSAAR
Chartered accountant Arun Anandagiri has sought an injunction (compulsory relief) on the annual general meeting of the Western India Regional Council (WIRC) of Institute of Chartered Accountants of India (ICAI) scheduled to take place in Mumbai on Thursday.
Anandgiri has fi...
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Category :
ICAI |
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0 | Hits : 535
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Companies must buy back at least 50 per cent under new sebi rules
Posted Date : 26-Jun-2013 , 07:03:03 am | Posted By CASANSAAR
Capital market regulator Sebi has tightened rules for share buybacks by mandating companies to purchase at least 50% of the offer size, failing which they will have to forfeit 2.5% of the total amount earmarked. The Sebi board which met on Tuesday cleared the new b...
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Category :
Corporate Law |
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0 | Hits : 610
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CBEC Extends 24x7 Customs Clearance Facility for Export Cargo from 1ST July, 2013
Posted Date : 25-Jun-2013 , 04:28:41 pm | Posted By CASANSAAR
Beginning 1st July, 2013, Customs clearance of all export goods will take place on 24x7 basis from four major Air Cargo Complexes/airports i.e., Bangalore, Chennai, Delhi and Mumbai. Thus, all exports including those made under export incentives scheme as well as duty drawback scheme will now be abl...
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Category :
Custom |
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0 | Hits : 310
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Mahindra Satyam merges with Tech Mahindra
Posted Date : 25-Jun-2013 , 01:28:39 pm | Posted By CASANSAAR
Software company Mahindra Satyam became a part of history after it was formally merged with its parent Tech Mahindra on Tuesday to create the country's fifth largest software services firm.
The board of Tech Mahindra and Mahindra Satyam had approved the merger on March 21, 2012....
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General |
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0 | Hits : 471
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I-T department to keep tax returns in hi-tech, world-class swanky centres
Posted Date : 25-Jun-2013 , 06:44:00 am | Posted By CASANSAAR
Your taxes are dear to the income tax department, but your returns are even dearer, so the department has ensured that they are kept in world-class safe keeping. Iron Mountain, the safe-keeper of the wills of Princess Diana, Charles Darwin, Bill Gates' Corbis photographic collect...
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Category :
Income Tax |
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0 | Hits : 493
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