Sebi frowns control practice of private equity investors
Posted Date : 12-Feb-2013 , 08:30:29 am | Posted By CASANSAAR
The tricky issue of 'control', that lies at the heart of every M&A deal, has come back to hauntprivate equity investors. Even with a minority stake, these investors often have veto powers over key decisions of companies they invest in - a practice that was recently frowned upon by...
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SEBI |
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0 | Hits : 309
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Council accepts panel's call to scrap ICAI head's project
Posted Date : 11-Feb-2013 , 08:20:54 am | Posted By CASANSAAR
In a major embarrassment to the Institute of Chartered Accountants of India (ICAI), the regulator for auditors, a Rs 100 crore-plus project initiated by its president Jaydeep Shah in his hometown Nagpur has been rejected by the statutory body's top decision-making body on grounds...
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ICAI |
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0 | Hits : 719
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After Shell, Hindalco faces transfer pricing tax notice
Posted Date : 11-Feb-2013 , 08:11:30 am | Posted By CASANSAAR
After Shell, it’s the turn of the Aditya Vikram Birla group to get a taste of the income-tax medicine on transfer pricing. Hindalco, the owner of Novelis, is set to get a notice from the income-tax department for “earning” fees while giving corporate guaran...
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Category :
Income Tax |
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0 | Hits : 558
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Sebi allows liquidity enhancement schemes in equity cash market
Posted Date : 10-Feb-2013 , 03:54:35 pm | Posted By CASANSAAR
Market regulator Sebi has allowed stock exchanges to introduce incentive schemes for brokers and intermediaries to enhance liquidity in illiquid securities in the equity cash segment. The decision has been taken pursuant to introduction of incentive schemes in derivatives segment to e...
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SEBI |
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0 | Hits : 300
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FM launches Rajiv Gandhi Equity Savings Scheme
Posted Date : 09-Feb-2013 , 06:29:15 pm | Posted By CASANSAAR
Finance Minister P. Chidambaram has launched the much-awaited Rajiv Gandhi Equity Savings Scheme in Mumbai.The move would encourage new investors to put their money in the stock market.The scheme, which was announced in the Budget, seeks to provide tax benefits to first-time investors in stock ...
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Income Tax |
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0 | Hits : 505
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Budget 2013: USIBC for a fair transparent tax environment
Posted Date : 09-Feb-2013 , 04:44:03 pm | Posted By CASANSAAR
The US India Business Council has submitted to Union Finance Minister P Chidambaram a wish list of reforms in the taxation sector, which the industry body argues would create a fair and transparent tax environment. In its pre-budget memorandum submitter to the Union Finance ...
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Budget |
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0 | Hits : 299
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After I-T, excise, service tax officials announce stir
Posted Date : 09-Feb-2013 , 10:31:15 am | Posted By CASANSAAR
The government’s already muted tax collections are set to take a further hit, with central excise and service tax officials now threatening to hand out mass resignations for delay in promotions. Income tax officers have already refused to stop work and issue assessment orders over the same iss...
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Category :
Service Tax |
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0 | Hits : 584
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Afzal Guru hanged in Tihar Jail at 8am
Posted Date : 09-Feb-2013 , 10:25:32 am | Posted By CASANSAAR
At 8 am on Saturday, Afzal Guru, the main accused in the Parliament attack case of December 13, 2001 was hanged in Delhi's Tihar jail, less than three months after the hanging of Mohammed Ajmal Kasab, the Pakistan-based terrorist who was part of the 26/11 Mumbai attack.
However, Guru's body...
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General |
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0 | Hits : 563
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Insurers can now buy up to 15 per cent stake in companies: Irda
Posted Date : 08-Feb-2013 , 10:55:20 pm | Posted By CASANSAAR
The Insurance Regulatory and Development Authority (Irda) today raised the exposure an insurance company can take in the equity of companies.
The regulator said depending upon the size of their controlled fund, insurers can pick up 12 percent and 15 percent stake in a company. The cap was e...
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General |
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0 | Hits : 259
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FinMin tax collection in trouble as I-T officers launch nationwide agitation
Posted Date : 08-Feb-2013 , 08:10:32 pm | Posted By CASANSAAR
The finance ministry, which is on an overdrive to raise tax collections, is facing a roadblock from the very people who are responsible for filling up its coffers.Close to 8,500 employees in the rank of income-tax officers, assistant commissioners and administrative officers of the In...
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Category :
Income Tax |
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0 | Hits : 311
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Visually challenged beats all odds, passes Inter CA
Posted Date : 08-Feb-2013 , 09:35:56 am | Posted By CASANSAAR
Yet another visually challenged student has secured a top rank in the all India level examinations held by the Institute of Charted Accountancy of India ( ICAI).
While Guntur boy J Rajasekhara Reddy had hit the headlines by becoming the first visually challenged to complete CA (final) last for...
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Category :
Students Zone |
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2 | Hits : 661
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Nokia tax dispute: Cyber experts examine software download system
Posted Date : 08-Feb-2013 , 09:23:09 am | Posted By CASANSAAR
The investigation unit of the Income Tax Department in Chennai has roped in cyber experts to crack Nokia’s computer systems in the Sriperumbudur manufacturing plant.
This is to investigate the method of software download by the Indian company from its parent in Finland to manufacture ...
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Category :
Income Tax |
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0 | Hits : 246
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New/Revised Ind ASs finalised by ICAI (Post February, 2011)
Posted Date : 08-Feb-2013 , 09:19:42 am | Posted By CASANSAAR
The following are the New/Revised Ind ASs (Post February, 2011) corresponding to the new/revised IFRSs issued by the IASB after finalisation of 35 Ind ASs hosted on the MCA’s website. These Ind ASs have been finalised by the Council of the ICAI and sent to the National Advisory Committee on Ac...
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Category :
Income Tax |
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0 | Hits : 279
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Tax trouble again: I-T dept alleges Vodafone underpriced shares by Rs 1,300 cr
Posted Date : 07-Feb-2013 , 09:28:31 am | Posted By CASANSAAR
Vodafone finds itself under renewed assault from Indian tax authorities even as it attempts to resolve a long-running tax dispute over the acquisition of Hutchison's Indian telecom business in 2007. This time around, theI-T Department has alleged that the Indian arm of the world's largest telec...
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Category :
Income Tax |
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0 | Hits : 384
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CA IPCC / PCC Toppers & Pass percentage of Examination held in Nov’12
Posted Date : 07-Feb-2013 , 09:25:35 am | Posted By CASANSAAR
Chartered Accountants Integrated Professional Competence Course (IPCC) Examination held in Nov, 2012
The details of percentage of candidates passed in the above said examinations are given below:
Appeared
Passed
Percentage
Both Group
51318
5720
11.15%
Group 1
...
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Students Zone |
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0 | Hits : 3211
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CBEC seeks details of service tax payment from companies
Posted Date : 06-Feb-2013 , 07:43:04 pm | Posted By CASANSAAR
Racing against time to meet revenue collection target, tax authority CBEC has started seeking details of service tax from companies which have paid the same amount as last year or even less than that.The Central Board of Excise and Customs (CBEC) has written to such com...
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Category :
Service Tax |
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0 | Hits : 535
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Exposure Draft: Acquisition of an Interest in a Joint Operation (Proposed amendment to IFRS 11) - (Last date for sending comments: March 20, 2013)
Posted Date : 06-Feb-2013 , 07:37:51 pm | Posted By CASANSAAR
The International Accounting Standards Board (IASB) has published this Exposure Draft of proposed amendments to introduce guidance on the accounting, by a joint operator, for the acquisition of an interest in a joint operation, as defined in IFRS 11 Joint Arrangements, in which the activity of the j...
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ICAI |
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0 | Hits : 286
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Exposure Draft: Sale or Contribution of Assets between an Investor and its Associate or Joint Venture (Proposed amendments to IFRS 10 and IAS 28)
Posted Date : 06-Feb-2013 , 07:36:50 pm | Posted By CASANSAAR
The International Accounting Standards Board (IASB) has proposed these amendments to address the issues related to the changes made in IAS 27 Consolidated and Separate Financial Statements (as issued in 2008) as part of the Business Combinations project. Invitation to commentASB invit...
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Category :
ICAI |
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0 | Hits : 236
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SEBI free to seize properties of Sahara Group companies: SC
Posted Date : 06-Feb-2013 , 06:06:07 pm | Posted By CASANSAAR
In fresh trouble toSahara group, the Supreme Court on Wednesday said that SEBI is free to freeze accounts and seize properties of its two companies for defying court orders by not refunding Rs 24,000 crore to investors.
The apex court also pulled up SEBI for not taking action against the ...
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SEBI |
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0 | Hits : 346
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Listed companies must now seek Sebi nod for all M&A deals
Posted Date : 06-Feb-2013 , 09:45:32 am | Posted By CASANSAAR
Companies traded on stock exchanges will now need the clearance of the capital market regulator Sebi for all merger, demerger and amalgamation deals. Till now, companies could execute these strategies by obtaining the approval of a high court and no-objection certificate from exc...
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SEBI |
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0 | Hits : 418
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Symphony gets ICAI award for excellence in financial reporting for second time
Posted Date : 06-Feb-2013 , 09:38:05 am | Posted By CASANSAAR
Symphony Limited, Ahmedabad-based air cooler manufacturing and marketing company, has won the ICAI award for excellence in financial reporting for the second consecutive years.Symphony was given this award for its annual report for 2010-11. The award was handed over at the Internation...
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Category :
ICAI |
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0 | Hits : 528
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Sebi revises norms for listed companies over 'exaggerated' valuations
Posted Date : 05-Feb-2013 , 08:23:11 pm | Posted By CASANSAAR
Market regulator Sebi has revised norms required for publicly traded companies which are planning to list their equities after amalgamation or de-merger.
In recent past, Sebi said it has been receiving applications seeking exemption from certain entities where there are inadequate disclosur...
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SEBI |
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0 | Hits : 280
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Fin Min to taxpayers: Revenue to be collected in just & fair manner
Posted Date : 05-Feb-2013 , 07:33:53 pm | Posted By CASANSAAR
Finance Ministry today assured taxpayers that efforts would be made to end hostile relationships between officials and assesses and collect revenue in a just and fair manner.
Addressing officials of Central Board of Excise and Customs (CBEC) Finance Minister P Chidambaram said in New Delhi...
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Category :
Income Tax |
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0 | Hits : 253
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IT dept slaps Rs 2300 crore tax demand on BCCI, Board looks for legal loopholes
Posted Date : 05-Feb-2013 , 07:29:06 pm | Posted By CASANSAAR
Income tax authorities have reopened old cases involving theIndian cricket Board and slapped taxes totalling about Rs. 2,300 crore for seven years after terming all its activities as "commercial", forcing the world's richest cricket body against the wall.
Tax assessment cas...
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Category :
Income Tax |
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0 | Hits : 383
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SEBI revises rules for amalgamation of companies
Posted Date : 05-Feb-2013 , 07:37:47 am | Posted By CASANSAAR
The Securities and Exchange Board of India (SEBI) on Monday revised rules for merger and amalgamation of companies, which requires stricter valuation of entities.
In the recent past, SEBI said it “received applications seeking exemption from certain entities containing inadequate...
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SEBI |
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0 | Hits : 571
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Mass resignation by central excise, service tax superintendents on April 30
Posted Date : 05-Feb-2013 , 07:34:01 am | Posted By CASANSAAR
All Central Excise and Service Tax superintendents will submit their resignations on April 30 over their demand for no promotions, lower salary and lack of working conditions.
They have been presenting their case to the concerned authorities regularly for more than two decades...
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Category :
Service Tax |
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0 | Hits : 706
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Tamil Nadu chief minister gives Rs. 10 lakh to Chartered Accountancy topper
Posted Date : 04-Feb-2013 , 08:44:14 pm | Posted By CASANSAAR
Tamil Nadu Chief Minister Jayalalithaa on Monday gave away Rs. 10 lakh to Prema, an auto rickshaw driver's daughter from the state, who topped the nationwide Chartered Accountant examination.
She gave the cheque to Prema, who was accompanied by her father and brother, ...
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Students Zone |
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0 | Hits : 742
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Shell India says tax order contrary to FM'S FDI drive; to challenge strongly
Posted Date : 04-Feb-2013 , 08:40:01 pm | Posted By CASANSAAR
Global petrochemical and energy giant Shell's Indian arm is gearing up to challenge a recent transfer pricingorder by the income tax department order that has alleged underpricing of Rs 15,000 crores by Shell Indiawhile issuing shares to it's sole parent Shell Gas BV in March, 20...
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Category :
Income Tax |
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0 | Hits : 301
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Facebook celebrates 9th birthday, Hapy Birthday Facebook
Posted Date : 04-Feb-2013 , 05:51:42 pm | Posted By CASANSAAR
Social networking site Facebook on Monday turned nine.
Today, Facebook has over one billion active users and the counting is going on rapidly.
The most popular social networking site was founded by Mark Zuckerberg and his four friends as a sophomore at the Harvard Unive...
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General |
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0 | Hits : 251
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Sourav Ganguly appeals against service tax claim of over Rs 3 crore
Posted Date : 04-Feb-2013 , 09:10:47 am | Posted By CASANSAAR
Former India cricket captain Sourav Ganguly has challenged before the Calcutta High Courta service tax claim of over Rs three crore, which was charged during his term with the Kolkata Knight Ridersfor IPL and playing for Team India. "While the original claim is of Rs 1....
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Category :
Service Tax |
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0 | Hits : 610
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