SC allows voluntary use of Aadhaar for four schemes
Posted Date : 16-Oct-2015 , 07:52:23 am | Posted By CASANSAAR
The Supreme Court on Thursday permitted citizens to voluntarily use Aadhaar cards to avail benefits under the Mahatma Gandhi National Rural Employment Guarantee Scheme, along with Pradhan Mantri Jan Dhan Yojana and schemes related to pension and PF after the government promised that absence of...
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General |
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E-biz launches composite application form for PAN, TAN, DIN and incorporation of company
Posted Date : 16-Oct-2015 , 07:27:20 am | Posted By CASANSAAR
This joined up service enables the applicant to fill a common form for 'MCA-Name, DIN and COI', 'CBDT-PAN, TAN', 'MoLE- ESIC and EPFO' services and the same is then routed sequentially to the respective department for processing. While applying for these services, eBiz refere...
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Corporate Law |
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0 | Hits : 1703
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Money laundering scam: ICICI, OBC, Axis Bank in ED's net
Posted Date : 15-Oct-2015 , 10:28:01 pm | Posted By CASANSAAR
The Enforcement Directorate has unearthed one more forex scam. This time it involves a total of 7 banks including Oriental Bank of Commerce , Axis Bank , ICICI , IndusInd , Kotak Mahindra , DCB , Dhanalaxmi Bank and YES Bank .
The ED has arrested one Manish Jain under the P...
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Money laundering |
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0 | Hits : 1753
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Arun Jaitley chosen 'Finance Minister of the Year, Asia' by Emerging Markets
Posted Date : 15-Oct-2015 , 07:55:14 am | Posted By CASANSAAR
Finance Minister Arun Jaitley has been chosen as Finance Minister of the Year, Asia by London-based publication Emerging Markets.
In an article the magazine said that Mr Jaitley too deserves some recognition for India's relative economic success over the last 18 months.
The Mag...
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Finance |
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CA P S Jayakumar takes over as MD & CEO of Bank of Baroda
Posted Date : 14-Oct-2015 , 08:31:58 am | Posted By CASANSAAR
CA P S Jayakumar, the former chief executive of VBHC Value Homes, took charge as the new MD and CEO of the state-owned Bank of Baroda for three years.
"Bank of Baroda has said P S Jayakumar has assumed the charge of the office of Managing Director and CEO, Bank of Baroda, on October 13...
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CA |
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SEBI issues format of uniform Listing Agreement
Posted Date : 14-Oct-2015 , 08:12:31 am | Posted By CASANSAAR
Markets regulator Sebi issued uniform listing agreement format incorporating the revised disclosure and regulatory requirements applicable for all listed entities.
The format would be applicable for non-convertible debt securities, non-convertible redeemable preference shares, securitised debt in...
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SEBI |
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0 | Hits : 901
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BoB to appoint Accounting Firm to review compliance, says new MD
Posted Date : 14-Oct-2015 , 08:08:15 am | Posted By CASANSAAR
Bank of Baroda, which is in the spotlight for alleged illegal remittances of Rs 6,000 crore, has decided to appoint an external accounting firm for full review of its know your customer (KYC) compliance and its effectiveness across all branches.
The bank said it is undertaking a “comprehens...
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Category :
Auditing |
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Govt to unveil new I-T tool to check PAN transactions history
Posted Date : 14-Oct-2015 , 08:00:00 am | Posted By CASANSAAR
The government is set to unveil an ambitious PAN activity monitoring and analysis software tool that will enable Income Tax department to check transactions history of a person country-wide and help sleuths in effective tracking of black money trail.
The digital and smart platform is called the I...
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PAN |
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Infosys to roll out GST collection network for government in Rs 13,130 Cr deal
Posted Date : 13-Oct-2015 , 10:57:40 am | Posted By CASANSAAR
Software major Infosys will soon implement the central government’s ambitious project to network the country for its Goods and Services Tax (GST) collection, a senior official said on Monday. ”As the sole vendor for the five-year project, we will set up the network ac...
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GST |
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0 | Hits : 993
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Banks need Rs 5 lakh crore capital for Basel III norms: Study
Posted Date : 13-Oct-2015 , 09:03:02 am | Posted By CASANSAAR
Indian banks' capital requirement would cross the Rs 5 lakh-crore mark while meeting the global Basel III banking norms by March 2019, a study report said on Monday.
"Given the credit growth expected in the short-to-medium term, the capital requirement of Indian banks would cross a huge ...
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Banking |
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Why do Indian firms pay higher fees to Big Four auditors?
Posted Date : 12-Oct-2015 , 08:13:43 am | Posted By CASANSAAR
Statutory auditors play a key role in corporate governance by ensuring that financial statements reflect the true and fair view of companies. The uncovering of major corporate frauds in India and elsewhere has led to a greater scrutiny of auditors’ role as a watchdog that could prevent such fr...
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Auditing |
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Changes in Income Tax Act soon to simplify procedures - Revenue secretary
Posted Date : 11-Oct-2015 , 09:33:00 pm | Posted By CASANSAAR
The government will soon carry out reforms and changes in the income tax (IT) act to simplify its procedures, a top finance ministry official said on Saturday.
According to Revenue Secretary Hasmukh Adhia, the central government will soon reveal a road map of changes to simp...
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Income Tax |
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0 | Hits : 1072
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Income Tax Dept asks traders to pay advance tax rather than annual returns
Posted Date : 11-Oct-2015 , 09:26:03 pm | Posted By CASANSAAR
As part of its latest drive to widen the tax base, the Income Tax department has asked traders and businessmen to pay advance tax rather than file annual returns at the end of the financial year so they can be added as new assesses promptly.
The department is running...
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Category :
Income Tax |
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0 | Hits : 996
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CBI conducts searches, questions suspects in alleged black money transfer probe
Posted Date : 11-Oct-2015 , 09:21:13 pm | Posted By CASANSAAR
The Central Bureau of Investigation (CBI) on Sunday conducted searches at 50 locations and started questioning of some of the suspects in its probe into alleged black money transfer of Rs.6000 crore to Hong Kong through Bank of Baroda camouflaged as payments for “non-existent imports&rdqu...
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Category :
Black Money |
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0 | Hits : 971
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FinMin invites suggestions on tax rates from trade, industry
Posted Date : 11-Oct-2015 , 09:16:15 pm | Posted By CASANSAAR
With preparations for the next Union Budget picking up pace, the Finance Ministry has invited suggestions from trade and industry for changes in tax rates and broadening of base.
The Budget is to be presented at the end of February by the Finance Minister.
"In the context of formulating t...
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Category :
Income Tax |
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0 | Hits : 747
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Banks asked to appoint security guards at all ATMs
Posted Date : 11-Oct-2015 , 09:13:54 pm | Posted By CASANSAAR
In the wake of recent heists from two ATMs here, the district administration today directed bank officials to appoint security guards at their ATMs otherwise branch manager will be held responsible in eventuality of any thefts in the future.
District Magistrate K K Yadav said, "Under s...
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Banking |
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0 | Hits : 862
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Computation sheet for Income Tax demand raised by AO are available at efiling portal
Posted Date : 10-Oct-2015 , 08:02:47 am | Posted By CASANSAAR
The facility to view tax and computation sheet for demand raised by AO is made available to the assessee in the e-Filing portal. After Login, select e-File ‘ Response to Outstanding Tax Demand, click on download button next to demand amount to download the details pdf.
In case of demand rai...
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Income Tax |
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0 | Hits : 1637
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GST can be implemented any time, once Bill passed: CBEC
Posted Date : 09-Oct-2015 , 10:29:33 pm | Posted By CASANSAAR
The tax department has said that Goods and Services Tax (GST) can be implemented anytime in 2016, once the Bill is passed.
Speaking at the 3rd CII Global Tax Summit organised in Delhi on Thursday, V S Krishnan, Member, Service Tax, CBEC, Ministry of Finance clarified that missing the 1st April 20...
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GST |
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0 | Hits : 985
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ICAI Election 2015 - Valid Lists of Nominations for election of Central Council & Regional Councils
Posted Date : 09-Oct-2015 , 10:22:46 pm | Posted By CASANSAAR
Re: Valid Lists of Nominations for election to the Twenty Third Council and Twenty Second Regional Councils
In pursuance of sub-rule (1) of rule 13 of the Chartered Accountants (Election to the Council) Rules, 2006 read with sub-regulation (10) of regulation 134 of the Chartered Accountants Regul...
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ICAI Election |
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Era of tax avoidance to minimise liability over, warns CBDT
Posted Date : 09-Oct-2015 , 07:27:10 am | Posted By CASANSAAR
The large taxpaying entities are part of the tax base but they understate their income, the Central Board of Direct Taxes (CBDT) Chairperson Anita Kapur said, pointing towards the findings of a recent study on Thursday at a tax conference.
"National Institute of Public Finance and Policy (NI...
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Category :
Income Tax |
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0 | Hits : 1021
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Government Approves Eleven (11) Proposals of Foreign Direct Investment (FDI) Amounting to Rs. 1,567.91 Crore Approximately
Posted Date : 09-Oct-2015 , 07:26:08 am | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on 11th September 2015, Government has approved 11 (eleven) proposals of Foreign Direct Investment amounting to Rs. 1,567.91 crore.
In addition, two proposals viz., M/s Sistema Shyam Tel...
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International Business |
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BSE fines 370 firms for non-compliance with Sebi norms on woman director
Posted Date : 08-Oct-2015 , 08:58:29 pm | Posted By CASANSAAR
Leading stock exchange Bombay Stock Exchange (BSE) on Thursday said it has imposed a fine on 370 companies for not complying with Sebi norms to appoint at least one woman director on their respective boards within the prescribed timelines.
The exchange had earlier issued notices to 530 companie...
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SEBI |
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RBI allows 90% loan to value ratio for home loans up to Rs.30 lakh
Posted Date : 08-Oct-2015 , 08:49:49 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Thursday increased the amount of loan banks can give against a property purchase and also reduced the so-called risk weights attached to home loans.
The decision is line with RBI’s statement on 29 September, when it reduced its key interest rate by half ...
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RBI |
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Bombay HC rules in favour of Vodafone in Rs 8500 crore transfer pricing case
Posted Date : 08-Oct-2015 , 08:46:47 pm | Posted By CASANSAAR
The Bombay High Court on Thursday ruled in favour of the Indian arm of Vodafone Group Plc in tax dispute over a Rs 8,500 crore transaction involving a local subsidiary in 2007-08.
The ruling is likely to soothe nerves of foreign investors who are caught in similar “transfer pricing”...
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Income Tax |
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0 | Hits : 899
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Doctors, Engineers lead the list of black money declarants during compliance period
Posted Date : 08-Oct-2015 , 08:11:07 am | Posted By CASANSAAR
A total of Rs 4,147 crore were declared in the 628 disclosures made during the 90-day black money compliance window that ended on September 30.
Surprisingly, against the popular perception, professionals including Doctors, engineers and former senior managers who used to work overseas outnumber...
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Black Money |
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0 | Hits : 2148
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RBI can act as GST payment aggregator - Govt
Posted Date : 08-Oct-2015 , 07:44:57 am | Posted By CASANSAAR
A day after Prime Minister Narendra Modi expressed the hope on a national roll-out of goods and services tax (GST) from 2016-17, the finance ministry on Wednesday released three reports on the processes for the new indirect tax regime. These suggested that the Reserve Bank of India (RBI) c...
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RBI |
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0 | Hits : 934
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Income Tax dept employees to hold strike today
Posted Date : 08-Oct-2015 , 07:30:43 am | Posted By CASANSAAR
The employees of the income tax department are going on a nationwide strike on Thursday to protest the delay in promotions and appointments of tax officers in the Central Board of Direct Taxes (CBDT).
The strike organised by two prominent associations — Income Tax Employees Federation (IT...
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Category :
Income Tax |
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0 | Hits : 1083
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Government appointed panel calls for uniform tax in CSR activities
Posted Date : 07-Oct-2015 , 08:13:22 am | Posted By CASANSAAR
A high-level committee appointed by the government has recommended a uniform tax for all corporate social responsibility (CSR) activities carried out under the new Companies Act and also suggested lenient treatment of non-compliant firms during the first two to three months as companies have to stil...
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Companies Act |
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0 | Hits : 951
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SEBI issues norms to hike FPI investment limit
Posted Date : 07-Oct-2015 , 08:02:43 am | Posted By CASANSAAR
With the Reserve Bank of India (RBI) easing foreign ownership in government debt, markets regulator Securities and Exchange Board of India (Sebi) on Tuesday issued detailed guidelines for hiking the overseas investment limits in such securities to Rs 1,86,500 crore by January 1, 2016.
Sebi has sa...
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SEBI |
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0 | Hits : 809
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Rational personal taxes, flat 25% corporate tax in 4 years: FM
Posted Date : 06-Oct-2015 , 11:13:40 pm | Posted By CASANSAAR
Finance Minister Arun Jaitley has promised a rational tax rate for individuals and bringing down of corporate tax to 25 per cent flat in four years beginning next fiscal along with removal of exemptions except those that encourage individual savings.
Addressing students and faculty at the C...
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Income Tax |
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0 | Hits : 784
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