I-T department slaps Rs 3900 crore tax order on A V Birla Group companies
Posted Date : 06-Apr-2013 , 07:56:45 am | Posted By CASANSAAR
In a major setback to the AV Birla Group, theincome tax department has turned the heat on two group entities, Idea Cellular and Aditya Birla Telecom Limited(ABTL), slapping a tax demand of nearly Rs 4000 crores on a telecom business de-merger executed in 2009, three sources ...
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Income Tax |
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ICSI National Awards for Excellence in Corporate Governance - 2012
Posted Date : 05-Apr-2013 , 09:26:19 pm | Posted By CASANSAAR
Chairman of the Awards Jury of the ICSI (Institute of Company Secretaries of India) and former Chief Justice of India ShriJustice M. N. Venkatachaliah here today presented the ‘ICSI National Awards for Excellence in Corporate Governance -2012’ to two ‘Best Gove...
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ICSI |
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Zone-shifting of candidates for May - 2013 CA Exams.
Posted Date : 05-Apr-2013 , 09:22:22 pm | Posted By CASANSAAR
IMPORTANT ANNOUNCEMENT
April 5th, 2013
Subject: Zone-shifting of candidates for May - 2013 CA Exams
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 ...
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Students Zone |
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0 | Hits : 585
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Competition Commission of India - Amendments to the Combination Regulations
Posted Date : 05-Apr-2013 , 09:20:05 pm | Posted By CASANSAAR
The Competition Commission of India (CCI) has amended the Combination Regulations with a view to further simplify the filing requirements and bring about greater certainty in the application of the Act and the Regulations. The provisions of the Competition Act, 2002 (“Act”) relating...
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General |
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Companies Need to Look Beyond Shareholder Value And Make Sustainability a Core Driver of their Strategy – Sachin Pilot
Posted Date : 05-Apr-2013 , 09:14:16 pm | Posted By CASANSAAR
Shri Sachin Pilot, Minister of Corporate Affairs, inaugurated the two-day 2nd CSIA (Corporate Secretaries International Association) International Corporate Governance Conference on the theme ‘Corporate Governance for Sustaining Prosperity and Posterity.’ Addressing the delegates from ac...
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Corporate Law |
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CAs to soon offer free auditing services
Posted Date : 05-Apr-2013 , 06:43:07 am | Posted By CASANSAAR
The call for Corporate Social Responsibility (CSR) by the corporate affairs ministry has turned into a Professional Social Responsibility (PSR) for lakhs of Chartered Accountants (CAs) who may soon provide free auditing and accounting services in the country.
Institute of Chartered Accounta...
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ICAI |
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Indian Railways to open all services for service tax registration
Posted Date : 05-Apr-2013 , 06:38:37 am | Posted By CASANSAAR
This was something that the country's largest employer had been reluctant to do ever Lalu Prasad took over as its boss. But the Indian Railways has now relented and has agreed to open services other than ticketing, that are offered by its various arms, to service tax.
The Central Railway and Wester...
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Service Tax |
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0 | Hits : 482
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Download online ICAI Admit Card for May 2013 examination
Posted Date : 04-Apr-2013 , 05:42:07 pm | Posted By CASANSAAR
ICAI conducts various examinations for take admission into various Accountancy Courses. ICAI Admit Card 2013 is available for C.A. Final, Intermediate (IPC) /ATE Examinations.
Note: Students open link in any web browser then “Select Exam” from drop down menu and “Enter the Registrat...
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Students Zone |
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612 Indians including 2 MPs have shell companies in tax havens: report
Posted Date : 04-Apr-2013 , 04:54:12 pm | Posted By CASANSAAR
International Consortium of Investigative Journalists (ICIJ), in collaboration with 38 media organisations across the world, including Indian Express, has revealed that there are 612 Indians who have shell companies in tax havens.
The list includes two MPs - Kingfisher group owner Vijay Mal...
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Income Tax |
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0 | Hits : 473
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Ludhiana Assistant IT Commissioner, Jalandhar CA, caught in bribery case
Posted Date : 04-Apr-2013 , 09:00:01 am | Posted By CASANSAAR
The CBI on Wednesday allegedly caught red-handed a deputy commissioner of the Ludhiana Income Tax (I-T) department accepting a bribe of Rs 6 lakh from a businessman. The agency's anti-corruption branch also picked up a Jalandhar-based chartered accountant (CA) Ashwani Kumar Gupta for allegedly actin...
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ICAI |
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Service Tax Amendments by FA 2012 Applicable for CA IPC May & Nov,13 Exams
Posted Date : 04-Apr-2013 , 08:48:10 am | Posted By CASANSAAR
Announcement for Intermediate(Integrated Professional Competence) Examinationapplicable from May 2013Examination onwards: Paper-4: Taxation (Part II: Service Tax & VAT). – (01-04-2013)
Paper 4: Taxation (Part II: Service Tax and VAT)
Ser...
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Students Zone |
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Rs 2,300 Cr lost in sales tax, VAT
Posted Date : 04-Apr-2013 , 08:44:14 am | Posted By CASANSAAR
The CAG has pointed out serious deficiencies in tax collection by the state. The assessment of sales and value added taxes has shown irregularities in the exemption claims. These trouble spots have caused a loss of over Rs 2,300 crore to the exchequer in 2011-12.
The auditor also as...
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VAT |
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CBI, income tax team start examining Radia tapes
Posted Date : 04-Apr-2013 , 08:41:41 am | Posted By CASANSAAR
The team, headed by a Deputy Inspector General-rank officer, have started the process of going through the tapes and its transcripts running into 49 volumes last week as per the directions of Supreme Court in February this year, official sources said.
A six-member CBI and Income Tax team ha...
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Income Tax |
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0 | Hits : 214
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RBI to UCBs: Grant unsecured loans up to 25 pc of assests
Posted Date : 04-Apr-2013 , 08:25:14 am | Posted By CASANSAAR
To promote lending to priority sectors, the Reserve Bank today allowed urban co-operative banks (UCBs) to grant unsecured loans up to 25 per cent of their assets if certain conditions are met.
"In order to promote lending to priority sectors and to provide impetus to the objective of financial...
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RBI |
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FAQs on ST3 return for July-September 2012
Posted Date : 03-Apr-2013 , 09:15:44 am | Posted By CASANSAAR
I got ST registration on/after 01.07.2012 with the service description, ‘Other Than in the Negative List’. Can I file the return now?
Assessees registered / amended their registration on or after 01.07.2012 with the service description, ”All Taxable Services &n...
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Service Tax |
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ICAI seeks information from banks on Deccan Chronicle but no letters to Auditors of the Co.
Posted Date : 03-Apr-2013 , 08:54:10 am | Posted By CASANSAAR
Accounting regulator ICAI said it has sought information from banks regarding media group Deccan Chronicle Holdings Ltd (DCHL). "We have written to the appropriate authority to get information... We have written to banks regarding Deccan Chronicle (issue)," Institute of ...
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ICAI |
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I.Tax dept wants to count your Cash
Posted Date : 03-Apr-2013 , 08:44:42 am | Posted By CASANSAAR
Now, keeping cash more than Rs 50,000 with you may draw the attention of the Income Tax Department. In the new forms for income tax returns, the government may ask non-salaried individuals to declare in-hand cash of more than Rs 50,000.
The department may also seek the details of vehicles, aircraft...
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Income Tax |
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ICAI asks firms to show forex fluctuations as separate item
Posted Date : 03-Apr-2013 , 08:44:24 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) plans to advise companies to show separately the impact of currency fluctuations on their long-term foreign currency transactions from the current fiscal.
The regulator has asked the companies to put this item on the "equity and liabili...
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ICAI |
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RBI revises capital norms for bank guarantees
Posted Date : 03-Apr-2013 , 08:20:53 am | Posted By CASANSAAR
The Reserve Bank has revised capital norms for financial and performance guarantees offered by banks. The applicable credit conversion factor or CCFfor determining the credit equivalent amount with regard to financial guarantees are revised to 100% of the value of the guarantee. While...
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RBI |
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I-T department slaps iPhone distributor Redington with Rs 138 crore tax demand
Posted Date : 03-Apr-2013 , 08:13:33 am | Posted By CASANSAAR
The Income tax department has slapped anRs 138 crore tax demand, excluding interest, on Chennai-based information technology and telecom products firm Redington (India) Ltd.The demand, based on the directive from transfer pricing officer pertains to "imputed profit...
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Income Tax |
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0 | Hits : 328
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Gujarat Assembly passes new Lokayukta Bill
Posted Date : 03-Apr-2013 , 08:10:13 am | Posted By CASANSAAR
The controversial new Gujarat Lokayukta Bill, which curtails the primacy of the Governor and Chief Justice of the High Court in appointment of the anti-corruption ombudsman, was on Tuesday passed by the Assembly amid protests from the opposition Congress.
Congress dubbed the Gujarat Lok...
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General |
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Mukesh Ambani's 4G arm Reliance Jio inks Rs 1,200 crore pact with Anil Ambani's RCom
Posted Date : 02-Apr-2013 , 04:11:18 pm | Posted By CASANSAAR
Billionaire Ambani brothers on Tuesday struck a Rs 1,200-crore deal wherein Mukesh will use his younger sibling's optic fibre network for launch of his telecom venture.Under the pact, Mukesh Ambani-led Reliance Industries' telecom arm will hire nationwide optical fibre network of Reliance Commu...
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Shares & Stock |
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0 | Hits : 407
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RBI relaxes norms for core investment companies to invest in insurance biz
Posted Date : 02-Apr-2013 , 08:17:31 am | Posted By CASANSAAR
The Reserve Bank of India has allowed core investment companies or CICs to set up a joint venture company for undertaking insurance business with risk participation, subject to safeguards. Besides a minimum net worth of Rs 500 crore and a satisfactory track record, the ...
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RBI |
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Sebi rationalises debt limits for foreign investors
Posted Date : 02-Apr-2013 , 08:10:45 am | Posted By CASANSAAR
Market regulator Sebi today announced rationalisation of debt limits for foreign institutional investors (FIIs) in line with RBI move on the same issue, a move that is expected to attract more overseas investments into the capital market. Earlier in the day, the Reserv...
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International Business |
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Samsung India gets I.tax notice for Rs.1,139.21 Cr
Posted Date : 02-Apr-2013 , 08:03:01 am | Posted By CASANSAAR
Samsung Electronics India Pvt. Ltd, the local arm of multinational consumer electronics firm Samsung Electronics Co. Ltd, is the latest firm to come under the scanner of the income-tax department. The show-cause notice issued on Saturday claims that the firm did not pay taxes on Rs.1,139...
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Income Tax |
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0 | Hits : 618
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Foreign investment in Government Securities and Corporate Bonds Rationalised
Posted Date : 01-Apr-2013 , 10:09:41 pm | Posted By CASANSAAR
The Central Government in consultation with Reserve Bank of India (RBI) and SEBI has been progressively liberalizing/rationalizing the scheme for foreign investment in G-Secs and Corporate bonds keeping in view the evolving macroeconomic scenario and financing needs of the economy. Till now FII...
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Finance |
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0 | Hits : 367
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Petrol, Jet fuel, Non-subsidised LPG prices come down
Posted Date : 01-Apr-2013 , 10:08:21 pm | Posted By CASANSAAR
Fuel prices have come down. Petrol price was on Monday cut by 85 paise per litre with effect from midnight tonight.
The price cut, which was made possible because of fall in international oil prices, is excluding local sales tax or VAT.
Now, petrol will cost Rs. 67. 29 per litre in Delhi, 74. 14 p...
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General |
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Chitra Ramkrishna is set to become the first female head of the National Stock Exchange (NSE)
Posted Date : 01-Apr-2013 , 10:38:13 am | Posted By CASANSAAR
Chitra Ramkrishna is set to become the first female head of the National Stock Exchange (NSE) in its nearly 20-year history of operations as a bourse.
On Monday, Ramkrishna will take over the reins of NSE, the country’s largest bourse by daily turnover and number of trades, as its ...
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Shares & Stock |
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0 | Hits : 1053
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Delhi girl becomes CA, CMA and CS at 23
Posted Date : 01-Apr-2013 , 08:42:12 am | Posted By CASANSAAR
Nurturing the ambition to make it big in the finance arena, a 23-year-old Delhi girl has qualified as chartered accountant, cost accountant, and also company secretary, becoming possibly the youngest person to complete all the three professional accounting courses.
A file picture of Delhi g...
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Students Zone |
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12 | Hits : 4005
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RBI against panel proposal to form super-regulator for financial firms
Posted Date : 01-Apr-2013 , 08:15:04 am | Posted By CASANSAAR
The Srikrishna commission's proposal to form a Unified Financial Agency (UFA) for all financial firms has not gone down well with the Reserve Bank of India (RBI).
The central bank has vehemently opposed the proposal, citing different reasons, including lack of focus and unconvincing results abroad....
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RBI |
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1 | Hits : 392
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