Government Approves Seven (07) Proposals of Foreign Direct Investment (FDI) Amounting to Rs. 981.15 Crore Approximately
Posted Date : 29-Jul-2015 , 11:50:12 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its 220th meeting held on 3rd July 2015, Government has approved 07 proposals of Foreign Direct Investment amounting to Rs. 981.15crore approximately.
Details of Proposals considered in the For...
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International Business |
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Timely Redressal of Tax Payer Grievances and Public Service Delivery
Posted Date : 29-Jul-2015 , 11:48:59 pm | Posted By CASANSAAR
Grievance redressal is a major aspect of citizen centric governance and is an important feature of the activities of the Income Tax Department. The Central Action Plan 2015-16 of the Income Tax Department released during the Annual General Conference of senior officers held on 25-26 May 2015, has st...
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Income Tax |
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PNB identifies 400 wilful defaulters; to sell Rs 3,000 crore NPAs
Posted Date : 29-Jul-2015 , 07:12:16 am | Posted By CASANSAAR
Saddled with bad loans, PNB on Tuesday said it has reported to RBI 400 'wilful defaulters', and plans to sell Non Performing Assets worth up to Rs 3,000 crore to ARCs in the current fiscal.
"400 accounts are there (wilful defaulters) which we have reported to RBI so that it (list) ca...
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NPA |
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Sahara's Mutual Fund licence cancelled by SEBI
Posted Date : 29-Jul-2015 , 07:10:38 am | Posted By CASANSAAR
Securities and Exchange Board of India (SEBI) has cancelled Sahara Asset Management Company's license today, saying it is not fit to carry out the business of mutual fund.
Sahara's fund management license would reportedly stand cancelled two months from the date of the order.
...
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Shares & Stock |
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SFIO to rope in chartered accountants for probe-related works
Posted Date : 28-Jul-2015 , 08:53:01 am | Posted By CASANSAAR
To bolster its capabilities in probing white collar crimes, the Serious Fraud Investigation Office (SFIO) will hire chartered accountants to help in matters related to forensic audit and financial data analysis.
SFIO, which comes under the Corporate Affairs Ministry, has been looking to rop...
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Chartered Accountant |
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RBI eases norms for liquidity operations
Posted Date : 28-Jul-2015 , 08:49:54 am | Posted By CASANSAAR
In a bid to simplify and smoothen liquidity management, the Reserve Bank of India (RBI) will process all bids at its daily fixed repo and reverse repo auctions and the Marginal Standing Facility auctions using straight through processing (STP) whereby the bank will get instant credit or debit of fun...
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RBI |
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RBI eases norms for liquidity operations
Posted Date : 28-Jul-2015 , 08:48:56 am | Posted By CASANSAAR
In a bid to simplify and smoothen liquidity management, the Reserve Bank of India (RBI) will process all bids at its daily fixed repo and reverse repo auctions and the Marginal Standing Facility auctions using straight through processing (STP) whereby the bank will get instant credit or debit of fun...
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RBI |
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Former president and Bharat Ratna Dr APJ Abdul Kalam dies in Shillong
Posted Date : 27-Jul-2015 , 09:24:15 pm | Posted By CASANSAAR
Former President Dr APJ Abdul Kalam died in Shillong on Monday after he collapsed during a lecture at the Indian Institute of Management in the Meghalaya capital. Kalam, who was the 11th President of India, was a very popular head of state between 2002 and 2007. He was also known as India's miss...
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General |
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MCA allows filing of Unaudited Accounts of foreign subsidiaries with ROC
Posted Date : 27-Jul-2015 , 08:46:42 am | Posted By CASANSAAR
The Corporate Affairs Ministry (MCA) has relaxed the norms requiring Indian companies with overseas subsidiaries to file ‘audited’ financial statements of such foreign subsidiaries with the Registrar of Companies (RoC) in India.
After consulting with the CA institute, the Ministry h...
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MCA |
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30 per cent of lawyers in India are fake - Bar Council
Posted Date : 26-Jul-2015 , 04:38:36 pm | Posted By CASANSAAR
Thirty per cent of lawyers in the country are fake, possessing 'fraudulent' law degrees or non-practising persons, and were degrading the profession, Bar Council of India Chairman Manan Kumar Mishra has said.
He also said 20 per cent of persons sporting lawyers robes did not have proper l...
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Corporate Law |
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Foreign Airlines Under Scanner for Alleged Service Tax Evasion
Posted Date : 26-Jul-2015 , 04:22:02 pm | Posted By CASANSAAR
Six foreign airlines have come under the lens of revenue authorities here for alleged underpayment of service tax believed to be worth several crores.
An inquiry has been initiated by Directorate General of Central Excise Intelligence (DGCEI) officials against these airlines for allegedly not pay...
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Service Tax |
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RBI asks I-T dept to verify applicants credentials for Small bank licence
Posted Date : 26-Jul-2015 , 03:57:26 pm | Posted By CASANSAAR
RBI has asked the I-T department to get a 'tax angle' verification done for four dozen corporate entities seeking licence to operate small finance and payment banks in the country.
RBI Governor Raghuram Rajan had recently written to the Central Board of Direct Taxes (CBDT), the apex polic...
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Income Tax |
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CBDT Notifies Cost Inflation Index (CII) for F.Y.2015-16 - 1081
Posted Date : 25-Jul-2015 , 08:52:25 am | Posted By CASANSAAR
CBDT Notifies Cost Inflation Index (CII) for F.Y.2015-16 - 1081.
Cost Inflation Index from 1981-82 to 2015-16.
...
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CBDT |
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Simplification of ITR Forms; Issue of PAN Cards
Posted Date : 25-Jul-2015 , 08:24:37 am | Posted By CASANSAAR
The Government has simplified Income Tax Returns (ITR) Forms for individuals and HUFs not having business or professional income. In ITR Form No. 2 and 2A, the main form does not contain more than three pages and other information relevant for computation of income will be captured in the schedules ...
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ITR |
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Amendment in Negotiable Instrument Act
Posted Date : 25-Jul-2015 , 08:22:17 am | Posted By CASANSAAR
The President of India has promulgated the Negotiable Instruments (Amendment) Ordinance, 2015 (No.6 of 2015) on 15th June, 2015. The Ordinance provides for determination of territorial jurisdiction of courts for trying cases relating to offence of dishonour of cheques under Section 138 of the Negoti...
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Corporate Law |
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Recommendations of SIT on Black Money as Contained in the Third SIT Report
Posted Date : 25-Jul-2015 , 08:20:20 am | Posted By CASANSAAR
Misuse of exemption on Long Term Capital gains tax for money laundering (Reference p. 82-84 of the Third SIT Report)
This issue was deliberated by SIT during a series of meetings held on 7th January, 14th March, 08thApril and 30th April. In this regard, it is pertinent to men...
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Black Money |
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Number of companies, registered with Registrar of Companies as on 30.06.2015
Posted Date : 25-Jul-2015 , 08:16:51 am | Posted By CASANSAAR
The number of companies, registered with Registrar of Companies as on 30.06.2015, State/UT-wise, is given in Annex-I.
The State/UT-wise and category-wise (struck-off and liquidated) number of closed companies during the last three financial years and the current financial year (up to 30.06....
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Category :
Companies Act |
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CA IPCC May 2015 Exam Result will be declared on 31st July 2015
Posted Date : 24-Jul-2015 , 05:38:17 pm | Posted By CASANSAAR
The result of the Chartered Accountants Intermediate (Integrated Professional Competence) Examination held in May, 2015 is likely to be declared on Friday, the 31st July, 2015 around 4.00 P.M. and the same as well as the merit list (candidates securing a minimum of 55% and above marks and ...
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Category :
CA Results |
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FinMin releases revised draft of Indian Financial Code
Posted Date : 24-Jul-2015 , 09:09:30 am | Posted By CASANSAAR
In a move that may dilute powers of RBI chief, the government on Thursday proposed taking away his authority to veto the interest rate decision of the central bank’s monetary policy committee.
The revised draft of Indian Financial Code (IFC), released on Thursday by th...
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RBI |
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Nischal Narayanam is youngest CA in the Country
Posted Date : 23-Jul-2015 , 03:50:35 pm | Posted By CASANSAAR
The kid who spotted the mistakes in a balance sheet of his dad’s company as a nine-year-old has become the youngest CA in the country at just 19.
Nischal Narayanam, who is hailed as a mathematical genius, has cleared the CA exam recently and is said to be the youngest in the country to ha...
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CA |
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SEBI bans more than 900 firms suspected to be platforms for tax evasion
Posted Date : 23-Jul-2015 , 03:45:29 pm | Posted By CASANSAAR
Suspecting tax evasion of at least 5,000 to 6,000 crore rupees, Securities and Exchange Board of India (SEBI) has clamped down on a large number of organised syndicates who had set up shops to convert black money into legitimate-looking funds through the stock market platform.
Sebi Chairman UK Si...
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SEBI |
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NSE issues notice to 260 companies over women director appointments
Posted Date : 22-Jul-2015 , 10:45:07 pm | Posted By CASANSAAR
Leading stock exchange NSE has issued notices to 260 companies, including 145 suspended firms, for their alleged failure to comply with Sebi norms to appoint at least one female director on their respective boards.
Sebi had issued guidelines in February last year asking companies to appoint at ...
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Corporate Law |
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GST looks closer to becoming a reality now
Posted Date : 22-Jul-2015 , 10:34:31 pm | Posted By CASANSAAR
With the select panel of the Rajya Sabha endorsing majority provisions of the GST bill, the landmark tax reforms legislation looks closer to becoming a reality soon after a decade of political flipflops and wranglings. The new tax system will unify the nation’s 29 states under a single sales t...
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GST |
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Mechanism to Monitor Tendering Fees quoted by its Members - ICAI
Posted Date : 22-Jul-2015 , 10:22:52 pm | Posted By CASANSAAR
With a view to contain the tendering system for attest functions, the Council at its special (338th) meeting considered the report of the Group constituted under the convenorship of CA. Tarun Jamnadas Ghia, Member, Central Council and decided as under:
1. Tendering has been prohibited ...
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ICAI |
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Date & Time for Common Proficiency Test (CPT) December 2015
Posted Date : 22-Jul-2015 , 10:15:37 pm | Posted By CASANSAAR
No.13-CA (EXAM)/CPT/December/2015: In pursuance of Regulation 22 of the Chartered Accountants Regulations, 1988, the Council of the Institute of Chartered Accountants of India is pleased to notify that the Common Proficiency Test will be held on Sunday, 13th December, 2015 in two sessions as below, ...
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CA Exams |
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Date Sheet for CA IPC and CA Final Exam for Nov. 2015
Posted Date : 22-Jul-2015 , 10:08:05 pm | Posted By CASANSAAR
No. 13- CA EXAM /N/2015: In pursuance of Regulation 22 of the Chartered Accountants Regulations, 1988, the Council of the Institute of Chartered Accountants of India is pleased to notify that the Intermediate (IPC) and Final examinations will be held on the dates given below at the followi...
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CA Exams |
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Govt extends interest subvention scheme to banks to ensure availability of crop loans
Posted Date : 22-Jul-2015 , 08:06:56 am | Posted By CASANSAAR
The government has extended interest subvention scheme to public sector banks, private sector commercial banks, rural regional banks, cooperative banks and NABARD to ensure availability of crop loans of up to 3 lakh rupees to farmers at seven per cent per annum. The sources said, the decision to con...
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Banking |
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Government Extends Date for Suggestions and Comments for the Implementation of the Companies Act, 2013 to 31st July, 2015
Posted Date : 22-Jul-2015 , 07:52:40 am | Posted By CASANSAAR
The Companies Law Committee set up by the Government to make recommendations on issues arising from the implementation of the Companies Act, 2013 had invited suggestions and comments from stakeholders to assist its deliberations. These suggestions and comments were invited through the Ministry of Co...
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Companies Act |
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Revised Norms of ITR - Electronic Verification of ITRs For A.Y. 2015-16 Introduced
Posted Date : 21-Jul-2015 , 10:11:38 pm | Posted By CASANSAAR
As per rule 12 of the Income-tax Rules, in case of individuals and certain other specified taxpayer, returns may be filed electronically followed by submission of signed paper copy of ITR-Verification form (ITR-V). However, to provide end-to-end enabled services to the tax payers, a facility has bee...
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ITR |
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Law Firms fight to protect their turf from Chartered Accountants
Posted Date : 21-Jul-2015 , 08:40:51 am | Posted By CASANSAAR
Can your accountant also assist you on drafting a joint venture agreement? Or is this work best left to a lawyer to check for compliance with various rules and legislation? And what happens when one company drops a nasty legal notice on the former joint venture partner? Is when things get contentiou...
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Category :
Chartered Accountant |
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