India Inc to pay tax on employees contribution to PF if not deposited before PF due date - ITAT
Posted Date : 28-May-2013 , 08:36:41 am | Posted By CASANSAAR
If India Inc does not deposit provident fund or employee state insurance contributions collected from its employees promptly, as per the due dates under these legislation, it will have to pay tax on the same.
In a recently heard tax appeal, in the case of LKP Securities, the M...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 512
|
 |
FM to inaugurate annual conference of Income Tax personnel
Posted Date : 28-May-2013 , 08:33:44 am | Posted By CASANSAAR
Finance Minister P. Chidambaram will inaugurate the 29th annual conference of Chief Commissioners and Directors General of Income Tax here on Tuesday.
The two-day conference is being organised by the Central Board of Direct Taxes (CBDT) at Vigyan Bhawan here on May 28th ...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 199
|
|
RBI imposes restrictions on bank lending against gold
Posted Date : 27-May-2013 , 09:28:58 pm | Posted By CASANSAAR
In a bid to curb demand for gold, the Reserve Bank on Monday imposed restrictions on banks and NBFCs for providing loans against gold coins as well as units of gold ETFs and mutual funds.
"...it is advised that while granting advance against the security of specially minted gold coins sold by ...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 353
|
|
Amway India Chairman, 2 Directors arrested
Posted Date : 27-May-2013 , 08:47:34 pm | Posted By CASANSAAR
Network marketing firm Amway’s India Chairman and CEO William S Pinckney and two company Directors were arrested in Kozhikode on Monday on charges of financial irregularities.
The two directors are Sanjay Malhotra and Anshu Budhraja, crime branch sources said.
The arrests wer...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 1321
|
|
Tax dept send letters to another 35,000 assessees for not filing returns
Posted Date : 27-May-2013 , 07:01:11 pm | Posted By CASANSAAR
Continuing its drive against non-filers, the income tax department on Monday sent letters to another 35,000 such assessess for not filing tax returns, taking the total number of these letters to 1.75 lakh. The I-T Departmenthas identified around 12 lakh assessees who have not filed th...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 319
|
|
Sudha Sharma likely to be new CBDT head
Posted Date : 27-May-2013 , 08:53:40 am | Posted By CASANSAAR
Sudha Sharma, a 1976 batch Indian Revenue Service (IRS) officer, is likely to be the new head of Central Board of Direct Taxes (CBDT).
Its current chairperson Poonam Kishore Saxena will retire on May 31.
"Sudha Sharma's appointment as the next CBDT c...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 372
|
|
Over 100 MNCs seek advance ruling to avoid tax disputes
Posted Date : 27-May-2013 , 08:46:14 am | Posted By CASANSAAR
Seeking to avoid transfer pricing taxation dispute, about 146 multi national companies (MNCs) have sought advance ruling under APA (Advance Pricing Agreements) mechanism.
"We have received 146 applications from companies for advance pricing agreement mechanism which would allow co...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 271
|
|
87 companies yet to meet SEBI norms on minimum public shareholding
Posted Date : 26-May-2013 , 10:45:37 pm | Posted By CASANSAAR
Nearly 87 actively-traded companies, including 75 private entities and 12 state-run units, are yet to comply with the minimum public shareholding (MPS) norms stipulated by the Securities and Exchange Board of India (Sebi).
The Indian market has seen 44 OFSs (offer-for-sale) and eight IPPs (institut...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 274
|
|
iGate facing unsettled tax demands worth Rs 738 cr
Posted Date : 26-May-2013 , 04:34:07 pm | Posted By CASANSAAR
After WNS and Infosys, iGate is the latest to face tax issues in India with the US-based outsourcing firm having an "unsettled" tax demand of $132.7 million (about Rs 738 crore) for assessment years 2004-05 to 2009-10.
iGate, which was in news for sacking of its chief executive Phaneesh Mur...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 192
|
|
Fin Min to mail 'polite letters' to service tax defaulters
Posted Date : 26-May-2013 , 04:30:08 pm | Posted By CASANSAAR
Service tax, customs and excise duty defaulters will get "polite letters" seeking information about their pending liability and any suspicious dealings carried out by them possibly with black money.
The novel method of non-intrusive letters will be sent to seek clarifications from an entity...
Continue Reading...
Category :
Service Tax |
Comments :
0 | Hits : 348
|
|
Superintendent of Service Tax & An Income Tax Inspector jailed in Bribery case
Posted Date : 26-May-2013 , 09:09:43 am | Posted By CASANSAAR
The special Judge for CBI Cases, Bangalore has convicted Sri A. Vanangamudi, then Superintendent ofService Tax, Service TaxCommissionerate, Bangalore to undergo two years Simple Imprisonment with fine Rs.20,000/- in a bribery case.
The investigation revealed that Sri A. Vanangamudi, Su...
Continue Reading...
Category :
Service Tax |
Comments :
0 | Hits : 637
|
|
RBI to relax contract booking norms for exporters
Posted Date : 26-May-2013 , 08:14:01 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has decided to relax norms forexporters. “The facility of rebooking of cancelled contracts is being increased from the present limit of 25 per cent to 50 per cent and made symmetrical for both exporters and importers,” said RBI executive director G Padmana...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 144
|
|
Trai proposes Rs 0.05 termination charge on commercial SMS, Rs 0.02 for normal SMS
Posted Date : 25-May-2013 , 02:04:13 pm | Posted By CASANSAAR
The Telecom Regulatory Authority of India (Trai) issued a new norm on Friday, of a five paise termination charge on each transactional short message service (SMS) and two paise on each normal SMS, on the operators from whose networks the message originates.
Also, if any subscriber is found us...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 650
|
|
Take steps to eliminate insider trading: PM to Sebi
Posted Date : 25-May-2013 , 08:21:24 am | Posted By CASANSAAR
Committing to strengthen Sebi, Prime Minister Manamohan Singh Friday asked the capital market regulator to eliminate insider trading and take steps to encourage small investors to invest in equities.
"... Regulation should be guided by the need to increase transparency and lead to higher investment...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 196
|
|
DTC will be introduced in monsoon session - FM
Posted Date : 24-May-2013 , 07:33:14 pm | Posted By CASANSAAR
Finance Minister P. Chidambaram said on Friday he would introduce a bill for a direct tax code (DTC) during the monsoon session of parliament.
The code, which will replace the existing Indian Income Tax Act 1961, is intended among other things to rationalise tax rates to bring more peop...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 458
|
|
Bharti Infotel to pay Rs 50K for threatening calls to customer
Posted Date : 24-May-2013 , 01:43:47 pm | Posted By CASANSAAR
Bharti Infotel Ltd has been directed by a consumer forum here to pay Rs 50,000 as compensation to a customer for making threatening calls to pay Internet billswhich were raised despite his request for disconnection of the service.The South West District Consumer Disputes Redressal For...
Continue Reading...
Category :
General |
Comments :
1 | Hits : 521
|
|
SEBI, India's capital market regulator, is 25
Posted Date : 24-May-2013 , 08:39:46 am | Posted By CASANSAAR
The Securities and Exchange Board of India (SEBI) celebrates its silver jubilee Friday amid calls that the capital market regulator needs to follow global standards and improve market intelligence, technology and talent pool to beef up the enforcement processes, protect investors and allow the launc...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 295
|
|
Cabinet approves over 20,700 additional posts in I-T dept
Posted Date : 23-May-2013 , 09:17:12 pm | Posted By CASANSAAR
The Cabinet on Thursday approved the proposal for creation of 20,751 additional posts in the Income Tax Department in various cadres. Of them, 1349 posts will be in the Indian Revenue Services (IRS) cadre and 19,402 posts in the non-IRS cadres. A decision in this regard was taken at the cabinet...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 860
|
|
Chit fund auditors under Corporate Affairs Ministry scanner
Posted Date : 23-May-2013 , 08:53:26 am | Posted By CASANSAAR
The ministry of corporate affairs is examining the role of auditors of the chit fund companies that are under its scanner for allegedly duping depositors even as theInstitute of Chartered Accountants of India (ICAI), the accounting regulator, has called for audit records of all the deposit taki...
Continue Reading...
Category :
ICAI |
Comments :
2 | Hits : 677
|
|
Stop kids below 13 from opening FB accounts, HC tells centre
Posted Date : 23-May-2013 , 08:23:43 am | Posted By CASANSAAR
The Delhi high court on Wednesday asked the Centre to come out with some law or methodology to prevent persons aged below 13 years from opening Facebook accounts.
“We have to save our children. It is seen that adults are luring innocent children online and luring them into activities ...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 536
|
|
Download ICSI Admit Card for June 2013 Examination Session
Posted Date : 22-May-2013 , 10:03:09 pm | Posted By CASANSAAR
ICSI Admit Cards June 2013 SessionThe Institute of Company Secretaries of India (ICSI)
ADMIT CARDS DOWNLOAD WILL START ON MAY 23, 2013FOR FOUNDATION (NEW SYLLABUS) STUDENTS!
DOWNLOAD ADMIT CARDS JUNE 2013 SESSION FORFOUNDATION (OLD), EXECUTIVE & PROFESSIONAL STUDENTSEnter Your complete 17-di...
Continue Reading...
Category :
Students Zone |
Comments :
0 | Hits : 3071
|
|
ICSI Conducts National Seminar on ‘Indian Financial Code’
Posted Date : 22-May-2013 , 09:43:34 pm | Posted By CASANSAAR
Union Finance Minister, Shri P. Chidambaram, here today inaugurated a National Seminar on the Indian Financial Code as recommended by the Financial Sector Legislative Reforms Commission. The Seminar was organized by the Institute of Company Secretaries of India (ICSI) which functions under the aegis...
Continue Reading...
Category :
ICSI |
Comments :
0 | Hits : 347
|
|
Change in Tariff Value of Gold Notified
Posted Date : 22-May-2013 , 09:41:01 pm | Posted By CASANSAAR
In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs (CBEC), being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the notification of the Government of Ind...
Continue Reading...
Category :
Custom |
Comments :
0 | Hits : 487
|
|
Zone-shifting of Candidates for 16th June-2013 CPT-ICAI
Posted Date : 22-May-2013 , 06:21:54 pm | Posted By CASANSAAR
IMPORTANT ANNOUNCEMENT
May 20th, 2013
Subject: Zone-shifting of candidates for 16th June - 2013 CPT
Due to paucity of accommodation in some Zones opted by the candidates in the cities of Chennai, Indore and Mumbai some of the candidates have been allotted examinations centres in the...
Continue Reading...
Category :
Students Zone |
Comments :
0 | Hits : 324
|
|
Proposed Indian Financial Code to be milestone in financial reforms: FM
Posted Date : 22-May-2013 , 01:05:41 pm | Posted By CASANSAAR
Finance Minister P Chidabaram has said that making laws in the country is not an easy task which has become even more difficult due to legitimization of obstructionism as a Parliamentary tactic and coalition era. He, however, said the government will not give up and is determination to push thr...
Continue Reading...
Category :
Finance |
Comments :
0 | Hits : 341
|
|
Algorithmic trading must be be audited every six months: SEBI
Posted Date : 22-May-2013 , 12:46:07 pm | Posted By CASANSAAR
Securities and Exchange Board of India - SEBI has made it mandatory for users to have their systems audited every six months and increased penalties on errant stock brokers. In a circular issued yesterday, SEBI has decided to tighten the norms for algorithmic trading following the recommendatio...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 403
|
|
Supreme Court dismisses ICAI’s SLP on ceiling on number of tax audits
Posted Date : 22-May-2013 , 10:15:33 am | Posted By CASANSAAR
SUPREME COURT OF INDIA
RECORD OF PROCEEDINGS
CIVIL APPEAL NO(s). 7208-7209 OF 2005
INST.OF CHARTERED ACCOUNTANTSOF INDIA
VERSUS
K. BHAGAVATHEESWARAN & ANR.
(With office report)
Date: 01/04/2013 These Appeals were called on for hearing today.
CORAM :
HON’BLE DR. JUSTICE B...
Continue Reading...
Category :
ICAI |
Comments :
2 | Hits : 4731
|
|
Valuation report from independent CA not reqd in some cases
Posted Date : 22-May-2013 , 08:38:47 am | Posted By CASANSAAR
Market regulator Sebi today exempted listed companies from submission of valuation report from an Independent Chartered Accountant for undertaking activities like merger, de-merger or change in capital if there is no change in the overall shareholding pattern. However, the c...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 766
|
|
Government urges all tax Payers to Disclose their True income and pay Appropriate taxes within the Current Financial Year
Posted Date : 22-May-2013 , 08:36:05 am | Posted By CASANSAAR
The Union Finance Minister Shri P. Chidambaram has repeatedly emphasized that there is need for a non–intrusive tax administration to enable the tax payer to file his/her return and pay appropriate taxes. In the statement made by the Revenue Secretary, Government of India to the media on ...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 357
|
|
ICAI celebrates Annual Day
Posted Date : 22-May-2013 , 08:29:59 am | Posted By CASANSAAR
The Institute of Cost Accountants of India celebrated its Annual Day in which Mr. K. Rahman Khan, Minister of Minority Affairs was the Chief Guest and Mr. M.J.Joseph, Additional Secretary,Ministry of Corporate Affairs was the Guest of Honor.
Cost Accountants from across the country, other d...
Continue Reading...
Category :
ICWAI |
Comments :
0 | Hits : 577
|
|
|
