Bribery racket: 4 kg gold, 130 kg silver seized from Chartered Accountants
Posted Date : 13-Jan-2015 , 08:59:27 am | Posted By CASANSAAR
THE CBI Monday questioned officers of the investigation wing of the Income-Tax department in Mumbai as part of its probe into a bribery racket that allegedly involves senior I-T officers in Mumbai and Chennai, middlemen and businessmen seeking income-tax relief.
The CBI has seized 4 kg gold...
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ICAI |
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Industry body suggests e-hearing for tax assessment cases
Posted Date : 13-Jan-2015 , 08:40:39 am | Posted By CASANSAAR
To make it convenient for taxpayers, an industry body has suggested 'e-hearing' to deal with tax disputes rather than insisting on physical appearance before assessment officers for trivial issues.
The suggestion has been made by Assocham in a letter addressed to Prime Ministe...
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Income Tax |
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Delhi Assembly elections to be held on February 7, counting on February 10
Posted Date : 12-Jan-2015 , 05:08:34 pm | Posted By CASANSAAR
The Assembly elections in Delhi, where the BJP and the Aam Aadmi Party (AAP) are raring for another face off, will be held on February 7 and counting will be held on February 10.
Chief Election Commissioner VS Sampath said candidates will have to fill all columns in affidavit.
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General |
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SC clears deck for NRI voting, issues notices to EC, Centre
Posted Date : 12-Jan-2015 , 01:14:47 pm | Posted By CASANSAAR
In a significant development, the Supreme Court on Monday issued notices to the Election Commission (EC) and the Centre directing them to take steps to ensure that NRIs are also able to vote.
According to reports, an apex court bench headed by Chief Justice HL Dattu today said that the ...
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General |
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Bribery racket: Joint Commissioner of Income Tax, CAs arrested by CBI
Posted Date : 12-Jan-2015 , 08:37:17 am | Posted By CASANSAAR
CBI smashed a major bribery racket allegedly involving senior Income Tax officials, Chartered Accountants and businessmen, arresting four persons including a Joint Commissioner of I-T department. In the operation which started yesterday across Mumbai and Chennai, the agency has so far arrested ...
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Income Tax |
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RBI sets up fund to educate Bank Depositors
Posted Date : 12-Jan-2015 , 08:30:46 am | Posted By CASANSAAR
RBI has put in place a new mechanism for grant of financial assistance to the NGOs and other entities seeking to take up activities related to education and awareness of bank depositors. Those eligible for such financial grants would include institutions, organisations and associations such as ...
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RBI |
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Govt stake dilution not sufficient for Basel III: RBI
Posted Date : 10-Jan-2015 , 05:15:42 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) today said dilution of government holding in public sector banks (PSBs) may not be sufficient for meeting Basel III capital adequacy norms.
“Recently, it has been reported that the Government of India is contemplating scaling down their holdings in PSBs...
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RBI |
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Indian Railways invite suggestions from Public for forthcoming Railway Budget
Posted Date : 10-Jan-2015 , 01:53:28 pm | Posted By CASANSAAR
Railway Minister Suresh Prabhu has invited suggestions from the public to make the forthcoming Railway Budget citizen-oriented. The aim of such an engagement is to help Railways come closer to citizens and better understand challenges that they experience and ensure that most important areas fr...
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Budget |
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Law School signs MoU with ICSI
Posted Date : 10-Jan-2015 , 08:46:06 am | Posted By CASANSAAR
The Tamil Nadu National Law School, Tiruchi on Thursday signed a memorandum of understanding with the Institute of Company Secretaries of India (ICSI), New Delhi.
Professor N. Murugavel, Vice-Chancellor, The Tamil Nadu National Law School, and R. Sridharan, president, ICSI, signed the memor...
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ICSI |
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Government Approves Twelve (12) Proposals of Foreign Direct Investment (FDI) Amounting to Approx Rs.1827.24 Cr
Posted Date : 09-Jan-2015 , 09:14:45 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on 19thDecember 2014, the Government of India has approved twelve (12) proposals of Foreign Direct Investment (FDI) amounting to Rs.1827.24 crore approximately.
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Finance |
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CBDT issues revised draft on Income Computation and Disclosure Standards; seeks public comments
Posted Date : 09-Jan-2015 , 05:34:41 pm | Posted By CASANSAAR
New Draft of Twelve Income Computation and Disclosure Standards (ICDS) has been Uploaded on the Finance Ministry and Income-Tax Department Website for Seeking Comments from Stakeholders and General Public by 8th February, 2015
&n...
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Income Tax |
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RBI revises leverage ratio, disclosure norms for banks
Posted Date : 09-Jan-2015 , 08:52:04 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) Thursday revised the guidelines for leverage ratio framework under the Basel III and the relevant disclosure norms.
The central bank said banks operating in India are required to make disclosure of the leverage ratio and its components from the date...
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RBI |
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Shareholders approve Kotak Bank-ING Vysya Bank merger
Posted Date : 08-Jan-2015 , 02:17:17 pm | Posted By CASANSAAR
Private sector Kotak Mahindra Bank has secured its shareholders' approval for amalgamation of Bangalore-based ING Vysya Bank with itself.
In November, Kotak Mahindra Bank had announced the buyout of ING Vysya Bank in an all-stock deal valued at Rs 15,000 crore.
The Extraordinary General Meeting of...
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Merger & Acquisitions |
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Get FREE Regular Professional Updates via WhatsApp / email / BBM from CASANSAAR
Posted Date : 08-Jan-2015 , 08:59:46 am | Posted By CASANSAAR
Now receive Regular Professional update via WhatsApp /email / BBM from CASANSAAR.COM. This free subscription will entitle you to faster complete updates. Receive Professional, Tax and Career related updates in your mobile / email inbox and stay ahead in your professional life.Some fea...
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General |
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CBDT appoints 15 commissioners to five DRPs
Posted Date : 08-Jan-2015 , 08:45:48 am | Posted By CASANSAAR
On the heels of ushering in new dispute resolution mechanism, the CBDT has appointed 15 commissioners as members of the newly set up five dispute resolution panels (DRPs).
These 15 commissioners will staff the five DRPs set up in Delhi (two panels), Mumbai (two panels) and Bengaluru (one DR...
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Category :
Income Tax |
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BCCI should pay service tax for recording matches: SC
Posted Date : 08-Jan-2015 , 08:40:36 am | Posted By CASANSAAR
The Supreme Court on Wednesday said the Board of Control for Cricket in India would have to pay service tax for recording cricket matches, as it was a “service provider.”
The BCCI had moved the court against an order by the Central Excise and Service Tax Appellate Tribunal direc...
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Service Tax |
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Rs 15,000 crore remittance scam hits six Banks
Posted Date : 07-Jan-2015 , 04:28:08 pm | Posted By CASANSAAR
The Enforcement Directorate (ED) has unearthed a mega scam of fraudulent foreign remittances worth Rs 15,000 crore, involving a number of dubious importers. The scam involves importers depositing fake bills of entries (of imports) in banks and remittances are made to unknown people ou...
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Banking |
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Bank unions defer one-day strike called on today
Posted Date : 07-Jan-2015 , 08:36:47 am | Posted By CASANSAAR
Public sector bank employee unions have deferred their one-day strike which was called on today. United Forum of Bank Unions Convener M V Murali told a news agency that the Bank unions have deferred the strike as the Indian Banks Association improved the wage revision offer. There are 27 public sect...
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General |
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Bloodbath on Dalal Street; Sensex tanks 855 pts on Greece woes
Posted Date : 06-Jan-2015 , 05:54:57 pm | Posted By CASANSAAR
In its worst ever crash in over six years, benchmark Sensex on Tuesday tanked 855 points as stock markets globally went into a tailspin amid political turmoil in Greece and oil price cracking below $ 50-mark.
The NSE Nifty also tanked 251 points, or 3%, on massive selling across sect...
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Shares & Stock |
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ICAI would be introducing new syllabi for CA Course in the country from 2016.
Posted Date : 06-Jan-2015 , 09:04:04 am | Posted By CASANSAAR
K. Raghu, President of Institute of Chartered Accountants of India (ICAI), New Delhi, said on Monday that the ICAI would be introducing new syllabi for chartered accountancy course in the country from 2016.
Speaking to presspersons on the sidelines of the national conclave for CA students o...
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Students Zone |
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NITI Aayog: PM Narendra Modi appoints 10 members
Posted Date : 05-Jan-2015 , 10:08:57 pm | Posted By CASANSAAR
Arvind Panagariya, a free-market economist who teaches at Columbia University in the US, was appointed on Monday as the first Vice Chairman of the newly-created NITI Aayog along with six members and three special invitees.
Economist Bibek Debroy and former DRDO chief V K Saraswat ...
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Finance |
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Last date for CPE hours requirement for the Year 2014 extended to 31st Match 2015
Posted Date : 05-Jan-2015 , 04:37:12 pm | Posted By CASANSAAR
Dear Professional Colleagues,
Subject: Extension of last date “for complying with the CPE hours requirement for the Calendar Year 2014” - from 31st December, 2014 to 31st March, 2015
We would like to inform you that it has been decided to extend the ...
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ICAI |
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CASANSAAR Placement Cell for Chartered Accountants (For Job Seekers & Job Recruiters)
Posted Date : 05-Jan-2015 , 08:47:35 am | Posted By CASANSAAR
CASANSAAR is pleased to announce the launch of CASANSAAR Placement Cell for Chartered Accountants. This Cell will assist Job Seekers & Job Recruiters for best fit..
If you have requirement of CA's in your office / Firm / Company then you can contact&nb...
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ICAI |
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Government to implement new Companies Act that includes setting up IEPFA and NFRA
Posted Date : 05-Jan-2015 , 08:39:49 am | Posted By CASANSAAR
The corporate affairs ministry has charted its road map for full implementation of the new Companies Act that envisages setting up Investor Education and Protection Fund Authority (IEPFA) and National Financial Reporting Authority (NFRA) within six months.The government is already in final stages of...
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Category :
Corporate Law |
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Check your tax office jurisdiction before filing returns
Posted Date : 05-Jan-2015 , 08:35:52 am | Posted By CASANSAAR
Check details about your new tax assessment range if you are going to file Income Tax returns, apply for refunds or conduct any I-T related business in future. A huge cadre restructuring in the I-T department, with the creation of over 20,700 posts recently, has brought about a number of change...
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Income Tax |
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Need to clean up bad debts in banks within a year: RBI
Posted Date : 04-Jan-2015 , 10:15:47 am | Posted By CASANSAAR
Reserve Bank Governor Raghuram Rajan on Saturday made a strong case for cleaning up bad debts of banks and restructure other possible NPAs within a year to put the economy back on track.
He also favoured channelising "full savings" of the households into the financial system so that requisi...
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RBI |
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Govt comes out with roadmap for new accounting standards
Posted Date : 04-Jan-2015 , 10:08:56 am | Posted By CASANSAAR
The ministry of corporate affairs (MCA) has drawn up a revised roadmap for companies for implementation of the Indian Accounting Standards (Ind AS) converged with the International Financial Reporting Standards (IFRS) for companies other than banking companies, insurance companies and NBFCs. The min...
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Corporate Law |
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Cashless transaction is one of the solutions to the menace of black money: PM
Posted Date : 03-Jan-2015 , 04:27:58 pm | Posted By CASANSAAR
Prime Minister Narendra Modi has said that cashless transaction is one of the solutions to the menace of black money. Addressing ICICI Foundation Day function in Mumbai Friday evening, Mr Modi advised banks to go for cashless transactions, which can help the government in rooting out the black money...
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Banking |
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RBI directs payment firms to display company name in products
Posted Date : 02-Jan-2015 , 09:12:38 pm | Posted By CASANSAAR
Reserve Bank has directed entities offering services such as e-wallets, smart cards and White Label ATMs to prominently display their company name in products to ensure transparency.
"All the information available to the public regarding the product, whether as advertisements, on website, applicati...
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RBI |
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Excise Duty On Petrol And Diesel Increased By Rs 2/Litre
Posted Date : 02-Jan-2015 , 05:21:30 pm | Posted By CASANSAAR
Excise duty on branded and unbranded petrol and diesel has been increased by Rs 2 per litre. "Govt has decided to increase basic excise duty on petrol & diesel by Rs 2/litre for infrastructure development, especially building15000 km of road," Oil Minister Dharmendra Pradhan tweeted. The increas...
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General |
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