Govt appoints four new Members in CBDT
Posted Date : 12-Dec-2014 , 08:26:31 am | Posted By CASANSAAR
Government appointed four senior IRS officers, including two women officials, as the new Members of theCentral Board of Direct Taxes (CBDT) -- the apex authority of the Income Tax department.
The posts, of the seven-member apex body, have been lying vacant for over ...
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Income Tax |
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Announcement on Grant of Fellow Membership on the basis of service - ICAI
Posted Date : 12-Dec-2014 , 07:53:48 am | Posted By CASANSAAR
Regulation 5 (3) of the Chartered Accountants Regulations, 1988 provides for eligibility to become a fellow member of the Institute on the basis of service in specified industries and organizationsAn associate member is eligible for admission as a Fellow Member if he/she satisfies the eligib...
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ICAI |
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Service Tax rules for Audit of companies have been tightened
Posted Date : 11-Dec-2014 , 08:46:04 am | Posted By CASANSAAR
The service tax rules for audit of companies have been tightened by making the access to registered premises of the assesses and reports more rigid and discretionary for the tax officers.
In a recent amendment made by the department, the time limit given for the assesses to submit i...
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Service Tax |
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SEBI allows non-demat MF transactions through stock exchanges
Posted Date : 11-Dec-2014 , 08:45:02 am | Posted By CASANSAAR
To help expand reach of mutual funds, regulator Sebi has allowed their distributors to use the stock exchange platform for non-demat transactions as well for sale or redemption of these financial products.The move comes over one year after Sebi allowed MF distributors to use stock exchange infrastru...
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SEBI |
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Tax tribunal rules against Vodafone, says transfer pricing case within IT dept's jurisdiction
Posted Date : 10-Dec-2014 , 10:16:53 pm | Posted By CASANSAAR
British telecom giant Vodafone's tax woes continue, with the tax appellate tribunal ruling on Wednesday that the tax department was within its jurisdiction in the Rs 8,500 croretransfer pricing tax dispute involving the sale of its call centre business to Hutchison in 2007.
The&nbs...
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Income Tax |
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Centre to release Rs 11000 crore CST compensation to states: FM
Posted Date : 10-Dec-2014 , 10:12:17 pm | Posted By CASANSAAR
The states will receive Rs.11,000 crore this fiscal towards partial compensation of the losses suffered by them for reduction in central sales tax (CST), Finance Minister Arun Jaitley said Wednesday.
Observing that there has been a "trust deficit" with the states on this count del...
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GST |
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Capital requirement of Public Sector Banks - Raising capital from public markets by broad basing shareholding
Posted Date : 10-Dec-2014 , 09:33:42 pm | Posted By CASANSAAR
The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, today gave its approval for allowing Public Sector Banks (PSBs) to raise capital to meet their additional capital requirements under BASEL-III by diluting Government holding upto 52 percent in a phased manner. Out of 27 PSBs, ...
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Banking |
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Delhi HC says tax data of private firms exempt from disclosure under RTI
Posted Date : 10-Dec-2014 , 08:34:08 am | Posted By CASANSAAR
The Delhi high court in a recent order said that tax information of private limited companies is confidential data and exempt from disclosure under the Right To Information (RTI) Act. Currently, individuals are exempt from such disclosure, and the ruling extends the definition of individual in this ...
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Corporate Law |
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Goods and Services Tax Scheduled for April 2016
Posted Date : 10-Dec-2014 , 08:26:11 am | Posted By CASANSAAR
The government on Tuesday said that broad agreement has been achieved with the states on most of the issues concerning the implementation of Goods and Services Tax (GST) which is scheduled to be rolled out from April 1, 2016.The states, minister of state for finance Jayant Sinha said, will be &ldquo...
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GST |
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Registration must for brokerages, analysts, says market regulator SEBI
Posted Date : 10-Dec-2014 , 08:21:05 am | Posted By CASANSAAR
Research analysts employed with a research firm or a brokerage house are not required to obtain registration certificate from the capital market regulator Sebi. However, firms that employ these analysts are required to obtain the certificate, the Sebi clarified on Tuesday. "The individuals empl...
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SEBI |
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Mobile service providers need not deduct tax on pre-paid kits: Karnataka High Court
Posted Date : 10-Dec-2014 , 08:14:15 am | Posted By CASANSAAR
In a major relief to the leading mobile phone service providers, the Karnataka High Court has ruled that they are not liable to deduct tax at source on the discount given to the distributors while supplying them in bulk pre-paid cards and related starter-kits and recharge vouchers.
A Divisi...
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Income Tax |
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Send Suggestions for Preference of e-Journal over Hard Copy of Journal - ICAI
Posted Date : 09-Dec-2014 , 09:37:54 pm | Posted By CASANSAAR
Preference of e-Journal over Hard Copy of JournalKind Attention: All Members of ICAI
The Office of Editorial Board, of late, had received requests from some of the ICAI members asking us to stop sending free (mandatory) hard copy of the Journal and begin sending the soft copy instead. The Editorial...
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ICAI |
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Month-Wise Registration of Companies during first five months of 2013-14 and 2014-15 - MCA
Posted Date : 09-Dec-2014 , 09:35:11 pm | Posted By CASANSAAR
The number of companies registered during the first five months of this financial year (2014-15) was 21,260, as against 43,601 companies registered during the corresponding period of the previous year. Month-wise registration of companies is indicated in the Table below:
Table
Number of Companies ...
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Corporate Law |
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952 CAs get Job offers, average annual pay at Rs 7.28 lakh - ICAI
Posted Date : 09-Dec-2014 , 08:44:37 am | Posted By CASANSAAR
In an indication of high demand for accountancy professionals, companies have recruited 952 chartered accountants with an average annual pay package of around Rs 7.28 lakh through ICAI campus placement.
The offers were made by companies during the placement programme, conducted across 19 citi...
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ICAI |
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Satyam case: Court sentences Raju Brothers, PwC Auditors & 8 others to 6-month Jail
Posted Date : 08-Dec-2014 , 06:57:06 pm | Posted By CASANSAAR
The Special Economic Offences Wing court of Nampally in Hyderabad convicted former Chairman of Satyam, Ramalinga Raju in Hyderabad on Monday.
Ramalinga Raju, along with brother Rama Raju and eight others have been slapped a fine of Rs 5 lakh and 6 months of imprisonment for fraud.
&...
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Auditing |
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Good days ahead for Chartered Accountants - ICAI President
Posted Date : 08-Dec-2014 , 08:48:00 am | Posted By CASANSAAR
The convergence of Indian accounting practices with the International Financial Reporting Standards, set to begin in the next financial year, will give a boost to FDI inflows to the country, says K. Raghu, president of the Institute of Chartered Accountants of India.
The adoption of Indian ...
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ICAI |
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Supreme Court sets up Social Justice Bench to deal with social issues
Posted Date : 06-Dec-2014 , 07:01:46 am | Posted By CASANSAAR
The Supreme Court set up a special 'Social Justice Bench' to exclusively hear cases concerning social issues particularly those related to women, children and underprivileged saying that specialized approach is needed for dealing with these matters.
Emphasizing that judiciary needs to be proa...
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General |
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Real estate business accounts for major chunk of black money - ICAI
Posted Date : 06-Dec-2014 , 06:55:46 am | Posted By CASANSAAR
When it comes to flow of black money, real estate business accounts for a major chunk of of such illicit funds, accounting regulator ICAI has told the government while seeking urgent steps to check this menace. In a representation made to Finance Minister Arun Jaitley, the Institute of Chartere...
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ICAI |
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Tax evasion of Rs 9,951 crore detected in last 3 years - FM
Posted Date : 06-Dec-2014 , 06:35:24 am | Posted By CASANSAAR
Tax authorities detected as many as 672 cases of tax evasion, in the current financial year through September, valued at Rs 1,379.57 crore, Finance Minister Arun Jaitley informed th Parliament on Friday.
In the last three financial years, 4,590 cases involving cross border tax evasion of Rs...
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Income Tax |
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Soon, PSU bank ATMs will be able to print in Hindi
Posted Date : 06-Dec-2014 , 06:21:38 am | Posted By CASANSAAR
ATMs installed by state-owned banks will soon have the facility for issuing the transaction receipt in Hindi, finance minister Arun Jaitley said on Friday in response to a question in the Lok Sabha.
"The government has instructed public sector banks (PSBs) to install those...
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RBI |
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Advance Ruling facility extended to domestic tax-payers, too
Posted Date : 05-Dec-2014 , 07:46:14 am | Posted By CASANSAAR
Domestic tax-payers can now apply for an ‘advance ruling’ to understand tax liability on their transactions. The Central Board of Direct Taxes (CBDT) has enabled the facility, which till now was open only to non-resident Indians.
With this facility, taxpayers can get a view upfr...
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Income Tax |
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ICAI tightens screws on errant coaching classes
Posted Date : 05-Dec-2014 , 07:27:21 am | Posted By CASANSAAR
In a bid to curb exploitation of CA students at the hands of coaching classes, the Institute of Chartered Accountants of India has announced that students appearing for any CA exam and writing answers other than those provided in the ICAI syllabus will be marked wrong.
The announcement was ...
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Students Zone |
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IIT-Kanpur students turn down Rs 1-Crore per annum offers
Posted Date : 04-Dec-2014 , 09:59:54 pm | Posted By CASANSAAR
Considerations of professional fulfilment and a desire to pursue higher studies have trumped offers of eight-figure salaries during placements at IIT Kanpur as four students chose to turn down jobs which would have paid them more than Rs 1 crore yearly.
It is not everyday that a job-seeker ...
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Students Zone |
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65th Annual Report and Audited Annual Accounts of the Institute for the year 2013
Posted Date : 04-Dec-2014 , 05:40:47 pm | Posted By CASANSAAR
In accordance with the provisions of sub-section (5B) of Section 18 of the Chartered Accountants Act, 1949, a copy of the Annual Report and Audited Accounts of the Institute for the year 2013-2014 is required to be published in the Gazette of India latest by 30th September, 2014. Accordingly...
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ICAI |
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New CA Curriculum by 2016: ICAI President
Posted Date : 04-Dec-2014 , 08:47:08 am | Posted By CASANSAAR
A new curriculum for chartered accountancy course will become a reality by 2016.
It would be a modern and global curriculum to meet the changing industry expectations, K. Raghu, president of the Institute of the Chartered Accountants of India (ICAI), said here on Tuesday.
In a medi...
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Students Zone |
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0 | Hits : 2504
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RBI releases final charter of customer rights
Posted Date : 04-Dec-2014 , 08:43:38 am | Posted By CASANSAAR
The rights of banking customers got a fillip on Wednesday with the Reserve Bank of India (RBI) releasing a charter enshrining these.
According to the notification, “The customer should not be unfairly discriminated against on grounds such as gender, age, religion, caste and physical ability w...
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RBI |
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Govt. notifies relaxed FDI norms for construction sector
Posted Date : 03-Dec-2014 , 11:00:56 pm | Posted By CASANSAAR
To help attract foreign funds in construction of townships, hospitals and hotels, the government on Wednesday relaxed the FDI policy for this sector by easing exit norms and reducing built-up area and capital needs.
The revised norms relating to construction development sector has been noti...
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Finance |
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Government Sets-up A High Level Committee to Interact with Trade and industry on Tax Laws
Posted Date : 03-Dec-2014 , 10:54:54 pm | Posted By CASANSAAR
n his Budget Speech 2014-15, the Union Finance Minister Shri Arun Jaitley had announced the setting-up of a High Level Committee to interact with trade and industry and ascertain areas where clarity on tax laws is required.
Accordingly, a High Level Committee has been constituted with the f...
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Finance |
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0 | Hits : 743
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CASANSAAR Placement Cell for Chartered Accountants (For Job Seekers & Job Recruiters)
Posted Date : 03-Dec-2014 , 12:38:07 pm | 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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General |
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0 | Hits : 2956
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Global Demand for Indian Chartered Accountants: ICAI President
Posted Date : 03-Dec-2014 , 07:58:56 am | Posted By CASANSAAR
With India set to usher in a new era of accounting reforms with the adoption of new Indian Accounting Standards converged with International Financial Reporting Standards, the Institute of Chartered Accountants of India forsees a global demand for Indian CAs. The new standards are to be converg...
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ICAI |
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