Black money: Govt submits before SC names of 627 Indians holding foreign bank accounts
Posted Date : 29-Oct-2014 , 04:05:37 pm | Posted By CASANSAAR
In a major step forward in the black money case, the Central government on Wednesday submitted before the Supreme Court a list of names of Indians having accounts in foreign banks.
In total, the Centre has placed before the apex court in a sealed envelope names of 627 Indians who have account...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 912
|
 |
Audit on Goa mining firms: CM says cooperate or face action
Posted Date : 29-Oct-2014 , 08:52:55 am | Posted By CASANSAAR
The Goa government has said it will launch a criminal investigation against those mining firms that are not cooperating with a state-appointed panel of chartered accountants looking into the financial transactions related to iron ore extraction and export between 2005-2012. The findings of th...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 1092
|
|
Anita Kapur likely to be new CBDT Chairperson
Posted Date : 29-Oct-2014 , 07:53:58 am | Posted By CASANSAAR
Senior IRS officer Anita Kapur is tipped to be the new chairperson of Central Board of Direct Taxes (CBDT), the apex authority of the Income Tax department.
Kapur, a 1978-batch officer of the Income Tax cadre, is currently serving as Member of Legislation and Computerisation and Income Ta...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1177
|
|
Black money: SC orders Centre to reveal all names by tomorrow
Posted Date : 28-Oct-2014 , 05:22:29 pm | Posted By CASANSAAR
In a major development, the Supreme Court on Tuesday ordered the central government to reveal by Wednesday the names of all Indian account holders in foreign banks.
Resuming its hearing in the black money case, the SC pulled up government for seeking modification of its order on disclosing names of...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1032
|
|
Devendra Fadnavis selected new Maharashtra CM
Posted Date : 28-Oct-2014 , 05:19:42 pm | Posted By CASANSAAR
State Bharatiya Janata Party (BJP) chief Devendra Fadnavis was on Tuesday elected the new chief minister of Maharashtra.
BJP workers celebrate the party's victory in Maharashtra assembly polls, wearing masks of state president Devendra Fadnavis. (PTI photo)
Fadnavis, 44, wa...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 909
|
|
Audit institutions play an enabling role in ushering in good governance: President
Posted Date : 28-Oct-2014 , 08:28:06 am | Posted By CASANSAAR
President Pranab Mukherjee, who inaugurated the 27th conference of Accountants General here on Monday, said audit institutions play an enabling role in ushering in good governance in democratic functioning.
"Good governance is the exercise of power, within the framework of the Constitu...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 974
|
|
Audit institutions play an enabling role in ushering in good governance: President
Posted Date : 28-Oct-2014 , 08:26:24 am | Posted By CASANSAAR
President Pranab Mukherjee, who inaugurated the 27th conference of Accountants General here on Monday, said audit institutions play an enabling role in ushering in good governance in democratic functioning.
"Good governance is the exercise of power, within the framework of the Constitu...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 674
|
|
Round-tripping of funds: SEBI writes to ED seeking probe into big firms
Posted Date : 28-Oct-2014 , 08:16:53 am | Posted By CASANSAAR
Market regulator Securities and Exchange Board of India has approached the Enforcement Directorate (ED) to look into alleged round-tripping of funds by large corporate houses. SEBI is also awaiting more data from the UK’s Financial Services Authority before taking any decision.
FEMA v...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 1167
|
|
Kaushal Srivastava is the new CBEC Chairman
Posted Date : 28-Oct-2014 , 08:13:09 am | Posted By CASANSAAR
Kaushal Srivastava is set to become the new Chairman of the Central Board of Excise and Custom (CBEC), the apex policy making body of indirect taxes.
Srivastava, a 1978 batch Indian Revenue Service officer and senior-most in the board after the present chairperson, is at present Member (bud...
Continue Reading...
Category :
Excise |
Comments :
0 | Hits : 1216
|
|
Government cancels appointment of 8 state-run bank CMDs, 14 EDs
Posted Date : 28-Oct-2014 , 08:09:34 am | Posted By CASANSAAR
The government on Monday cancelled the appointment of eight chairmen-cum-managing directors and 14 executive directors of state-run banks appointed by the previous UPA government.In a statement released late on Monday, the finance ministry said the decision was taken after a committee set up to exam...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 1273
|
|
Black money list: Centre discloses 3 account holders, says no intention to hold back any name
Posted Date : 27-Oct-2014 , 04:46:19 pm | Posted By CASANSAAR
In an important revelation, the central government on Monday released names of three persons holding accounts in foreign banks currently under the scrutiny of the income tax authority.
Pradip Burman (former director, Dabur India Limited), Pankaj Chimanlal Lodhiya (chief promoter of Rajkot-bas...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 909
|
|
25 European banks fail stress test, 12 have fixed holes already
Posted Date : 27-Oct-2014 , 08:10:27 am | Posted By CASANSAAR
Twenty-five banks including Italy's Banca Monte dei Paschi di Siena SpA failed a stress test led by the European Central Bank, which said almost half of them must act to raise more capital. The central bank in Frankfurt identified a 25 billion-euro shortfall ($32 billion) for the region's lenders, a...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 985
|
|
New Curriculum for ICAI by 2016
Posted Date : 27-Oct-2014 , 08:02:42 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) today said it plans to launch its new curriculum by 2016, which would be a global one in future.
"The Committee on Review of Education and Training is in the process of finalising the curriculum and suggestions and feedback have...
Continue Reading...
Category :
Students Zone |
Comments :
0 | Hits : 1926
|
|
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 : 959
|
|
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 : 1253
|
|
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 : 706
|
|
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 : 979
|
|
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 : 1246
|
|
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 : 1094
|
|
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 : 1297
|
|
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 : 995
|
|
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 : 837
|
|
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 : 1435
|
|
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 : 844
|
|
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 : 863
|
|
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 : 841
|
|
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 : 1296
|
|
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 : 1199
|
|
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 : 1217
|
|
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 : 1426
|
|
|
