RBI receives more than 100 applicants for small & payments Banks
Posted Date : 03-Feb-2015 , 10:15:59 pm | Posted By CASANSAAR
Reserve Bank of India today said it has received 72 applications for small finance banks and 41 applications for payment banks. Top corporate houses such as Reliance Industries Limited, Aditya Birla Group, Airtel, Vodafone and Future Group have approached the RBI to seek licences to set up small fin...
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Banking |
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Petrol Price Down by Rs 2.42 per litre, Diesel by Rs 2.25
Posted Date : 03-Feb-2015 , 05:51:13 pm | Posted By CASANSAAR
The price of petrol was today slashed by Rs 2.42 per litre while that of diesel was reduced by Rs 2.25, Press Trust of India reported. This is the tenth cut in the price of petrol since August last, and the sixth in case of diesel since its regulation in October.
Fuel prices were last revised on Ja...
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General |
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RBI keeps repo rate steady at 7.75 pct, cuts Banks SLR by 50 bps
Posted Date : 03-Feb-2015 , 11:21:51 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Tuesday held interest rates steady at 7.75 per cent after easing monetary policy just three weeks ago, leaving its next move probably until after the government presents its annual budget at the end of this month.
Instead, the Reserve Bank of India cut the...
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RBI |
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Give names of unclaimed deposit a/c on website: RBI to banks
Posted Date : 03-Feb-2015 , 07:17:46 am | Posted By CASANSAAR
In a bid to help people who have unclaimed deposits lying with banks, RBI today directed banks to prominently display such account holders' names on the websites and provide them with a "Find" option to locate the information easily.
Banks should complete the action by March 31,...
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RBI |
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On-line facility for seeking change of Centre/Group/Medium for appearing in CA examinations - ICAI
Posted Date : 02-Feb-2015 , 09:40:07 pm | Posted By CASANSAAR
It is found that some candidates while filling the examination application form (either online orphysical ) do not exercise reasonable care and commit errors and seek change ofCentre/Group/Medium, on account of errors committed by them in their examination applicationforms, after submission.
...
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Students Zone |
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ICAI to launch new curriculum in 2016 targeting foreign jobs
Posted Date : 02-Feb-2015 , 06:40:58 pm | Posted By CASANSAAR
Keeping in mind the international job market for Indian Chartered Accountants, Institute of Chartered Accountant ofIndia (ICAI) is preparing a new curriculum, to be launched in 2016, ICAI officials said today.
"There is plenty of opportunity for our CAs in foreign countries. Our new curr...
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Students Zone |
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0 | Hits : 1497
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Shortfall in TDS collections: CBDT asks I-T department to act
Posted Date : 02-Feb-2015 , 08:04:55 am | Posted By CASANSAAR
Worried over a huge shortfall in TDS collections, CBDT has asked the Income Tax department to pull up its socks and initiate special measures to achieve the direct taxes collection target for this fiscal.Officials said the instructions were issued last week after a high-level 'video conference' meet...
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Income Tax |
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RBI constitutes high level panel on urban cooperative banks
Posted Date : 31-Jan-2015 , 08:38:31 am | Posted By CASANSAAR
RBI has constituted a High Powered Committee under the Chairmanship of Deputy Governor R Gandhi to re-examine and recommend appropriate set of businesses, size, conversion and licensing terms for the Urban Cooperative Banking Sector.
The committee will examine the line of businesses that UCBs may b...
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RBI |
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Assocham, ICAI set up virtual centre for MSMEs' development
Posted Date : 30-Jan-2015 , 08:07:46 pm | Posted By CASANSAAR
Industry body Assocham and the Institute of Cost Accountants of India (ICAI) have jointly set up the country's first 'Virtual Centre for Development of MSMEs'.
"The Centre will cater as a facilitator to MSMEs by addressing their issues, connecting them to global research a...
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ICAI |
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Gold award for the Income Tax Department under National Award on E-Governance 2014-15
Posted Date : 30-Jan-2015 , 07:55:03 pm | Posted By CASANSAAR
The Income Tax Department has been awarded GOLD by the Government of India under category “Cat-I-Excellence in Government Process Re-engineering” for National Award on e-governance 2014-15. The award has been conferred for “TDS Reconciliation Analysis & Correction Enabling Syst...
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Income Tax |
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DRI unearths Rs 2700 crore scam of fradulent exports to convert black money into white
Posted Date : 30-Jan-2015 , 05:38:52 pm | Posted By CASANSAAR
As government focuses on bringing back black money parked abroad, those having illegal wealth on foreign shores seem to be already working to bring it back, albeit unscrupulously. Directorate of Revenue Intelligence (DRI) has unearthed what looks like a Rs 2,700 crore racket to turn black money park...
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Income Tax |
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CAs can give India a global edge - Railway Minister
Posted Date : 30-Jan-2015 , 08:28:50 am | Posted By CASANSAAR
Chartered accountants meeting here for an international conference were urged to help build the country’s global competitiveness with modern and ethical auditing practices.
Minister for Railways Suresh Prabhu, a chartered accountant himself, addressed the inaugural event of the Instit...
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ICAI |
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SC upholds changes in Sarfaesi Act; Banks free to decide NPAs
Posted Date : 30-Jan-2015 , 08:10:42 am | Posted By CASANSAAR
Dismissing appeals filed by around 60 companies, the Supreme Court on Wednesday upheld the amendment to the Securitisation Act that gave power to every financial institution to decide a period after which a bad loan can be declared as a non-performing asset (NPA).
Before the 2004 amendment ...
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Banking |
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Swachh Bharat Cess may be imposed by way of a Service Tax amendment
Posted Date : 30-Jan-2015 , 08:01:50 am | Posted By CASANSAAR
A Swachh Bharat cess is likely to be imposed by way of a Service Tax amendment in the forthcoming Annual Budget.
According to sources, The Finance Ministry proposes Swachh Bharat cess seeking Rs 1 lakh crore for Swachh Bharat Mission.
The government hopes to mop up Rs 1 lakh crore ...
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Service Tax |
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ICAI supports changes to Companies Act
Posted Date : 29-Jan-2015 , 08:45:18 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) has said that it supports the NDA government’s decision to amend the Companies Act, 2013, by making it easier to get approvals for related party transactions by non-related shareholders through a simple resolution, instead of special resol...
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Corporate Law |
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Reserve Bank of India asks banks to ease norms for individual borrowers
Posted Date : 28-Jan-2015 , 08:23:39 pm | Posted By CASANSAAR
To ensure hassle free credit to small borrowers, the RBI today directed banks to do away with the practice of obtaining ‘No Due Certificate’ from individual loan takers.
The RBI said it received complaints from borrowers as banks were refusing to grant loans without ‘No Du...
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RBI |
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Centre not to appeal Bombay High Court order in Vodafone tax case
Posted Date : 28-Jan-2015 , 08:16:15 pm | Posted By CASANSAAR
In a decision aimed at improving the investment sentiment, the Cabinet Committee on Economic Affairs (CCEA) on Wednesday took a decision to not challenge against a Bombay High Court ruling that said Vodafone was not liable to pay a tax demand of Rs. 3,200 crore in a transfer pricing case.
T...
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Income Tax |
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CA IPCC Nov.2014 Exam Result will be declared on 4th Feb.2015
Posted Date : 28-Jan-2015 , 08:46:22 am | Posted By CASANSAAR
The result of the Chartered Accountants Intermediate (Integrated ProfessionalCompetence) Examination held in November, 2014 is likely to be declared on Wednesday,the 4th February, 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 up...
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Students Zone |
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1 | Hits : 1126
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FM for tax reforms and quick decisions to ensure stability
Posted Date : 28-Jan-2015 , 08:13:36 am | Posted By CASANSAAR
Ahead of the Budget, Finance Minister Arun Jaitley(pictured) on Tuesday underlined the need for tax reforms and quick decision-making to ensure stability in policy regime.
The minister also asked the Central Board of Excise and Customs (CBEC) officials to maintain a certain level of ...
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Budget |
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CBEC forms teams to hunt for companies evading taxes
Posted Date : 28-Jan-2015 , 08:08:52 am | Posted By CASANSAAR
On the lines of income tax surveys of entities suspected of evading taxes, the Central Board of Excise and Customs (CBEC) has set up as many as 40 audit commissionerates across the country tasked to audit accounts of companies and survey their other operations to detect any tax evasion.
The r...
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Service Tax |
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0 | Hits : 988
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With 150 retirements a month, DDA hiring law, CA graduates
Posted Date : 27-Jan-2015 , 08:30:20 am | Posted By CASANSAAR
With many employees retiring from Delhi’s premier land-owning agency, the Delhi Development Authority (DDA) is in for a paradigm shift as it has begun hiring young professionals on a contractual basis. Officials said while 50 vacancies in two departments have already been filled up by this new...
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General |
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ICAI Constitute a Group Pursuant to C&AG
Posted Date : 26-Jan-2015 , 08:30:03 pm | Posted By CASANSAAR
Council Affairs/M-626/2015
24th January,2015
ALL MEMBERS OF THE COUNCIL
Dear Sir,
Pursuant to C&AG’s Report `Performance Audit on Appreciation of Third Party (Chartered Accountants) - Reporting in Assessment Proceedings’ for th...
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ICAI |
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Obama announces $4 billion in India investment and lending deals
Posted Date : 26-Jan-2015 , 08:19:47 pm | Posted By CASANSAAR
U.S. President Barack Obama on Monday announced $4 billion in government-backed investments and lending to India, as he sought to scale up a trade relationship he said was "defined by so much untapped potential".
At a CEO summit hosted by Prime Minister Narendra Modi in New Delhi, Obama...
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International Business |
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Padma Awards 2015
Posted Date : 26-Jan-2015 , 10:02:34 am | Posted By CASANSAAR
Padma Vibhushan:
1 LK Advani- Public Affairs- Gujarat
2 Amitabh Bachchan- Art- Maharashtra
3 Prakash Singh Badal- Public Affairs- Punjab
4 Dr D Veerendra Heggade- Social Work- Karnataka
5 Mohammad Yusuf Khan alias Dilip Kumar- Art- Maharashtra
6 Jagadguru Ramanandacharya Swami Rambha...
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General |
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ICAI with the approval of the CG, Doubles the Stipend Payable to Article Assistants
Posted Date : 24-Jan-2015 , 08:44:33 am | Posted By CASANSAAR
No. 1-CA(7)/167/2014.- Whereas certain draft regulations further to amend the CharteredAccountants Regulations, 1988, were published as required by sub-section (3) of section 30of the Chartered Accountants Act, 1949 (38 of 1949), in the Gazette of India, Extraordinary,Part III, Section 4, dated the ...
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Students Zone |
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File affidavits of assets, income during divorce proceedings, directs HC
Posted Date : 24-Jan-2015 , 08:31:31 am | Posted By CASANSAAR
Hiding your assets and income from the court during divorce or maintenance proceedings will now be difficult with the Delhi High Court issuing directions that both the husband and the wife have to file detailed affidavits of income, assets and expenditure at the time of filing for divorce or mainten...
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General |
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0 | Hits : 989
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RBI eases norms for revamping ECBs
Posted Date : 24-Jan-2015 , 08:14:56 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has simplified the existing procedure for rescheduling/restructuring of external commercial borrowings (ECBs). It also delegated more powers to banks to deal with cases related to change in draw-down and repayment schedules.
Under the simplified procedure, th...
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RBI |
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Non-payment of TAX may land you in Jail
Posted Date : 24-Jan-2015 , 08:07:16 am | Posted By CASANSAAR
The government may prosecute those accused of evading taxes under the Prevention of Money Laundering Act (PMLA) as part of a wide ranging crackdown on black money. Further, non-declaration of foreign bank accounts and assets may also be made a criminal offence, according to people who have been brie...
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Income Tax |
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0 | Hits : 1118
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Govt may allow tax exemption for 3-year bank FDs
Posted Date : 23-Jan-2015 , 08:16:33 am | Posted By CASANSAAR
The government may consider the demand of banks to make fixed deposits for three years and more tax-free instead of the five-year lock-in period at present, providing these lenders a level-playing field with mutual funds and tax-free bonds that have been weaning away a large chunk of investors.Indic...
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Income Tax |
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Blind youth clears CA, wants to teach & hopes to inspire others
Posted Date : 22-Jan-2015 , 10:17:37 pm | Posted By CASANSAAR
While clearing the Chartered Accountancy (CA) exam is never a cakewalk for aspirants, for Thane's Rushabh Kapasi, the task was even more daunting. Kapasi (24) suffers from almost 100% vision loss due to a birth defect. He was born with corneal opacity in both eyes. But determined as he was, Kapasi m...
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Students Zone |
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