Contributions to Swachh Bharat, Clean Ganga come under CSR ambit
Posted Date : 27-Oct-2014 , 07:56:00 am | Posted By CASANSAAR
Corporate contributions towards Narendra Modi-led Government’s two key initiatives of Swachh Bharat and Clean Ganga will now be counted as CSR spend.
The Corporate Affairs Ministry has amended Schedule VII of Companies Act to specify that contributions to ‘Swachh Bharat Kosh&rsq...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 950
|
 |
NGO's spending over Rs 20000 in cash will attract intensive government scrutiny
Posted Date : 25-Oct-2014 , 07:01:22 pm | Posted By CASANSAAR
Tightening the screws on Non Government Organisations (NGOs) and associations, the Home Ministry has said that any association indulging in cash payments in the excess of Rs 20000 will attract "intensive scrutiny" from government. This follows a detailed inspection lately of records and account...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1245
|
|
Ram Jethmalani takes on Narendra Modi govt over black money controversy
Posted Date : 25-Oct-2014 , 06:57:31 pm | Posted By CASANSAAR
Slamming the Narendra Modi-led NDA government for stating that it cannot disclose details of the data shared by it with foreign countries regarding black money, Rajya Sabha MP and senior lawyer Ram Jethmalani today said that its recent submission in Supreme Court in the matter was "ill-advised".
&n...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 645
|
|
President of India to Inaugurate Three Day Accountants
Posted Date : 25-Oct-2014 , 06:55:30 pm | Posted By CASANSAAR
Shri Pranab Mukherjee, President of India will inaugurate the Accountants General Conference here on Monday, 27th October, 2014. The three (3) day Conference is being organized by the Comptroller and Auditor General of India (CAG) on the theme of ‘Promoting Good Governance and Accountability t...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 961
|
|
CBEC extend due date for filing of S.Tax Return from 25th October to 14th November, 2014
Posted Date : 24-Oct-2014 , 09:16:04 pm | Posted By CASANSAAR
F.No.137/99/2011-Service Tax
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise & Customs
***
New Delhi, the 24th October, 2014
ORDER NO. 02/2014-SERVICE TAX
In exercise of the powers conferred by sub-rule (4) of rule 7 of the Se...
Continue Reading...
Category :
Service Tax |
Comments :
0 | Hits : 1231
|
|
Government employee can't seek promotion after refusing it: Supreme Court
Posted Date : 24-Oct-2014 , 08:13:26 pm | Posted By CASANSAAR
A government employee, whose promotion is canceled owing to his refusal to accept it, cannot ask for it at a later stage, the Supreme Court has said.The apex court set aside the order of the Madhya Pradesh High Court which had directed the state government to restore th...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 1062
|
|
Many listed firms had same auditors for over 10 yrs: IIAS
Posted Date : 24-Oct-2014 , 08:05:53 pm | Posted By CASANSAAR
Proxy advisory body Institutional Investor Advisory Services India (IIAS) has called for periodic rotation of auditors and capping their tenure at 10 years.
"IIAS expects the tenure of the audit firm to be capped at 10 years. It would recommend voting against the reappointm...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 1277
|
|
Government approves Twenty (20) Proposals of Foreign Direct Investment amounting to Rs 988.3 Crore
Posted Date : 24-Oct-2014 , 07:58:58 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on September 16, 2014, the Government has approved twenty (20) proposals of Foreign Direct Investment amounting to Rs. 988.3 crore approximately.
Details of Proposals considered in the Foreign Investment P...
Continue Reading...
Category :
Finance |
Comments :
0 | Hits : 987
|
|
Arun Jaitley hints at UPA minister's name in black money list
Posted Date : 22-Oct-2014 , 09:41:17 pm | Posted By CASANSAAR
Finance Minister Arun Jaitley Wednesday may have dropped hints that a minister in the previous UPA government could be one of those who had stashed money abroad.
"I know who you are hinting at. But please wait for the appropriate time," he told a news channel when ...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 814
|
|
Income tax return up for scrutiny? Don
Posted Date : 22-Oct-2014 , 09:01:23 am | Posted By CASANSAAR
After A taxpayer files his annual return (ITR) online and sends ITR V, the signed hard copy, the department sends a confirmation on receiving it. Then, it runs an assessment under various sections of the income tax law.
Assessment under Sec 143(1)
This is an initial checking of the...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1413
|
|
ICAI invites suggestions on Income-tax Returns (ITRs) and other forms notified under Income-tax Rules, 1962
Posted Date : 21-Oct-2014 , 11:02:26 pm | Posted By CASANSAAR
The Direct Taxes Committee of the ICAI is in the process of compiling suggestions on Income tax Return forms (ITRs) and other forms to be made applicable for Assessment year 2015-16. With regard to the same, suggestions are invited from the members. The suggestions so received would be compl...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 832
|
|
RBI asks banks to partially freeze KYC non-compliant accounts
Posted Date : 21-Oct-2014 , 11:00:27 pm | Posted By CASANSAAR
Customers who have not complied with KYC (know your customer) requirements despite repeated reminders may face trouble as the Reserve Bank of India (RBI) has asked banks to partially freeze and subsequently close such accounts.
"As regards non-compliance of KYC requirements by the customers despite...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 812
|
|
Govt issues order for merger of NSEL with FTIL
Posted Date : 21-Oct-2014 , 04:42:43 pm | Posted By CASANSAAR
The Government has issued a draft order for the merger of scam-ridden National Spot Exchange Ltd (NSEL) with Financial Technologies India Ltd (FTIL). The Corporate Affairs Ministry has put the draft order in its Web site.
Financial Technologies, in a notice to the stock exchanges, confirmed...
Continue Reading...
Category :
Merger & Acquisitions |
Comments :
0 | Hits : 825
|
|
Directors can be held liable for dishonour of cheque, rules SC
Posted Date : 21-Oct-2014 , 08:44:12 am | Posted By CASANSAAR
The Supreme Court has said that all directors involved in the day-to-day running of a company can be made liable for a bounced cheque, but not one who resigned before the cheque was issued. The top court said this while dealing with a case filed by a private company that had lent money to another.&n...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 1266
|
|
Companies may need more guidance on internal financial control reporting - ICAI
Posted Date : 21-Oct-2014 , 08:10:04 am | Posted By CASANSAAR
The apex body of chartered accountants ICAI today said companies, too, would be looking up to the Corporate Affairs Ministry for guidance on the rule that statutory auditors should disclose details about a company's internal financial controls. Under the new companies law -- being implemented b...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 1155
|
|
CBI Arrests Dy Commissioner IT on Bribery Charges
Posted Date : 21-Oct-2014 , 08:02:14 am | Posted By CASANSAAR
The Central Bureau of Investigation on Monday night arrested a Deputy Commissioner Income Tax in Hyderabad on the charge of accepting a bribe of Rs 23 lakh through a middleman.
Sources in the investigative agency said that the accused Jai Prakash, posted as Deputy Commissioner Income Tax in...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1201
|
|
Your insurance payout will now come after a tax cut!
Posted Date : 20-Oct-2014 , 08:32:55 am | Posted By CASANSAAR
In a quiet move, the impact of which is being felt only now, the statute books have been amended to deduct tax at source on some insurance payouts, which could particularly affect people above 45 and those with single-premium policies.
This, by way of a new section -- 194DA -- in the I...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1398
|
|
Can't levy tax on accident claim amount, interest: HC to I-T department
Posted Date : 19-Oct-2014 , 06:26:48 pm | Posted By CASANSAAR
The Himachal Pradesh high court has rules that no income tax is payable on claim amount and interest on the deposits made under the orders of the court in motor accident claims cases.
The high court held that compensation awarded for death of a person or bodily injury suffered in a vehi...
Continue Reading...
Category :
Income Tax |
Comments :
1 | Hits : 1074
|
|
Rs1,381 crore of tax exemption to political parties in 2 years: RTI
Posted Date : 19-Oct-2014 , 06:09:28 pm | Posted By CASANSAAR
The tax-exempted income of 13 major political parties of the country, in last two years, amount to Rs 1,381 crore, according to an RTI query.
Of this the Congress and BJP have cornered around 80 per cent.
During 2012-13 and 2013-14, the Congress had a tax- exempted ...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 943
|
|
Live Results of Assembly Elections
Posted Date : 19-Oct-2014 , 05:31:52 pm | Posted By CASANSAAR
Assembly Elections
Maharashtra
Haryana
Party
Lead
Won
Total
BJP+
22
101
123
INC
7
36
43
SS
09
52
61
NCP
8
33
41
MNS
0
1
1
OTH
1
6
7
Party
Lead
Won
Total
INLD+
0
19
19
BJP
2...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 750
|
|
Diesel deregulated, Prices cut by Rs 3.37 per litre
Posted Date : 18-Oct-2014 , 08:42:06 pm | Posted By CASANSAAR
In much-awaited reform, the government on Saturday deregulated diesel prices, a move that will result in a price cut of Rs 3.37 a litre with effect from midnight tonight.Finance Minister Arun Jaitely said the Cabinet in its meeting today decided to deregulate or free diesel prices. Retail rates will...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 773
|
|
Last date of filing of the TDS/TCS Statements for the 2nd Quarter of FY 2014-15 extended in 4 States
Posted Date : 18-Oct-2014 , 08:41:52 am | Posted By CASANSAAR
In view of the recent natural calamities in the States of Andhra Pradesh, Jammu & Kashmir, Odisha & Telangana, the Central Board of Direct Taxes has issued an order extending the due date for filing the TDS/TCS Statements for the 2nd Quarter of Financial year 2014-15 by the deductors/collect...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1714
|
|
All info on black money can't be disclosed: Centre tells SC
Posted Date : 17-Oct-2014 , 03:38:13 pm | Posted By CASANSAAR
The Centre on Friday submitted before the Supreme Court that all the information on black money received from foreign countries, with which India has double taxation avoidance agreement, cannot be disclosed.
In its application, the Centre said that the foreign countries have objected to disclosing ...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 960
|
|
MCA not extended Date of GNL-2 for filling of ADT-1
Posted Date : 17-Oct-2014 , 08:58:36 am | Posted By CASANSAAR
Company Law Settlement Scheme, 2014 has now been extended till 15 Nov.2014 vide circular no. 40/2014 dated 15th october 2014.
There is heavy congestion on MCA site as it has capacity of routine pressure and not peak filing and due to which filing system of MCA failed and MCA has extended th...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 2132
|
|
Bombay HC issues notice to RBI on ballooning NPAs
Posted Date : 17-Oct-2014 , 08:24:15 am | Posted By CASANSAAR
The Bombay High Court has issued notice to the Reserve Bank of India in connection with a PIL which alleges that the non-performing assets (NPA) of nationalised banks swelled up from Rs 455 crore for the year ended March 2008 to Rs 9,190 crore in March 2012.
However, according to the R...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 1038
|
|
Money laundering: RBI issues caution on fake bills post Finance Ministry alarm
Posted Date : 17-Oct-2014 , 08:22:10 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has sent an advisory to banks cautioning them about the new trend of using forged or fake Bills of Entry to remit funds abroad, especially to tax havens such as Hong Kong. The apex bank has also started synchronising databases with the customs department to detect fra...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1043
|
|
Arvind Subramanian to be India's next Chief Economic Advisor
Posted Date : 16-Oct-2014 , 10:57:18 pm | Posted By CASANSAAR
The Centre has appointed US-based economist Arvind Subramanian as India's next Chief Economic Advisor in the Finance Ministry.
This was a keenly awaited appointment of the new Modi Government that is facing the challenge of modest economic growth coupled with runaway inflation in recent yea...
Continue Reading...
Category :
Finance |
Comments :
0 | Hits : 866
|
|
Sell shares of unlisted companies through off-market transfer
Posted Date : 16-Oct-2014 , 10:50:42 pm | Posted By CASANSAAR
If you own shares in a company listed on a regional stock exchange, you should try and sell these through an off-market transfer. Otherwise, you might be saddled with unlisted and illiquid shares. Or, moving court might be the only way out.
Following the Securities and Exchange Board of India (Sebi...
Continue Reading...
Category :
Shares & Stock |
Comments :
0 | Hits : 1062
|
|
Rajiv Mehrishi Replaces Arvind Mayaram as Finance Secretary
Posted Date : 16-Oct-2014 , 05:39:02 pm | Posted By CASANSAAR
The Narendra Modi government has transferred the top civil servant at the finance ministry, Finance Secretary Arvind Mayaram, replacing him with Rajiv Mehrishi, the chief secretary of Rajasthan, a state that has pushed dramatic free market reforms in recent months.
Mr Mayaram's transfer was p...
Continue Reading...
Category :
Finance |
Comments :
0 | Hits : 997
|
|
Formation of new Commissionerates following the implementation of Cadre Restructuring in CBEC
Posted Date : 16-Oct-2014 , 07:45:47 am | Posted By CASANSAAR
The Central Board of Excise and Customs has implemented the cadre restructuring of the Indirect Taxes formations, with effect from 15th October 2014. The restructuring of formations is aimed creating larger number of compact commissionerates, by reorganizing the existing commissionerates.
...
Continue Reading...
Category :
Service Tax |
Comments :
0 | Hits : 932
|
|
|
