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...
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Income Tax |
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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 ...
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Category :
Income Tax |
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0 | Hits : 967
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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...
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Category :
General |
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0 | Hits : 759
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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...
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Category :
General |
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0 | Hits : 787
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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...
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Income Tax |
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0 | Hits : 1725
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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 ...
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Category :
Income Tax |
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0 | Hits : 969
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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...
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Corporate Law |
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0 | Hits : 2139
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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...
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Category :
Banking |
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0 | Hits : 1055
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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...
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RBI |
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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...
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Category :
Finance |
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0 | Hits : 888
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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...
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Shares & Stock |
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0 | Hits : 1088
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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...
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Finance |
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0 | Hits : 1034
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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.
...
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Category :
Service Tax |
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0 | Hits : 942
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Expeditious issue of refunds to the assesses of Jammu & Kashmir
Posted Date : 16-Oct-2014 , 07:44:48 am | Posted By CASANSAAR
In view of the large devastation caused by the recent floods in Jammu & Kashmir, the Income tax Department is taking necessary steps to process expeditiously the refund claims of the taxpayers residing in the state of Jammu & Kashmir who have submitted their returns through electronic mode. ...
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Category :
Income Tax |
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0 | Hits : 804
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Company Law Settlement Scheme, 2014 has now been extended till 15 Nov
Posted Date : 15-Oct-2014 , 11:38:48 pm | 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....
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Category :
Corporate Law |
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0 | Hits : 1009
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Hosting of exemption(s) in a paper granted in Intermediate and Final examinations, valid for November 2014 - ICAI
Posted Date : 15-Oct-2014 , 05:14:59 pm | Posted By CASANSAAR
Exemption(s) in a paper(s) are granted to candidates of Intermediate and Final examinations, in terms of Regulation 37C(8) and Regulation 38C(6), respectively, of the Chartered Accountants Regulations 1988.The rules in this regard are provided in the Guidance Notes made available to the candidates a...
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ICAI |
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0 | Hits : 947
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Auditors to give info on Companies' internal financial controls
Posted Date : 15-Oct-2014 , 09:00:04 am | Posted By CASANSAAR
To ensure more transparency, auditors will now be required to provide information about a company's internal financial controls and their operating effectiveness in the annual statements.
The new provision would be mandatory for auditors from next financial year starting from Ap...
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Category :
Auditing |
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0 | Hits : 1477
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Money transfer from abroad in Service Tax Net
Posted Date : 15-Oct-2014 , 08:56:04 am | Posted By CASANSAAR
The Centre on Tuesday decided to garner revenue by indirectly levying service tax on NRI remittances, a move that will eat into the earnings of lakhs of NRIs who regularly send money back home.
In a circular issued by the Central Board of Excise and Customs (CBEC), the government said banks and fin...
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Category :
Service Tax |
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Announcement - Zone Shifting of Candidates for November 2014 CA Examinations
Posted Date : 14-Oct-2014 , 10:13:23 pm | Posted By CASANSAAR
IMPORTANT ANNOUNCEMENT
October 14th , 2014
Subject: Zone-shifting of candidates for November - 2014 CA Exams
Due to paucity of accommodation in certain Zones opted by the candidates in the cities of Bengaluru, Chennai, Delhi, Hyderabad, Indore and Mumbai, some of the candidates have...
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Students Zone |
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Download online ICAI Admit Card for Nov 2014 Examination
Posted Date : 14-Oct-2014 , 10:10:21 pm | Posted By CASANSAAR
Admit cards in respect of candidates admitted to the Intermediate (IPC) and Final November 2014 examination, with their photographs and signatures on them, are hosted on www.icai.nic.in. Candidates may print their admit cards from the said website.For downloading/printing of the admit card...
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Students Zone |
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0 | Hits : 1361
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Amendment in Companies (Accounts) Rules, 2014,
Posted Date : 14-Oct-2014 , 09:33:42 pm | Posted By CASANSAAR
In exercise of the powers conferred by sub-sections (1) and (3) of section 128, sub-section (3) of section 129, section 133, section 134, sub-section (4) of section 135, sub-section (1) of section 136, section 137 and section 138 read with section 469 of the Companies Act, 2013 (18 of 2013), the Cen...
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Category :
Corporate Law |
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0 | Hits : 927
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25 Proposals of Foreign Direct Investment Amounting to Rs.1546.12 Crore Approved
Posted Date : 14-Oct-2014 , 09:31:50 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on August 29, 2014, Government has approved 25proposals of Foreign Direct Investment amounting to`1546.12 Crore approximately.
In addition, one proposal viz., M/s Medereich Limited amounting ...
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International Business |
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Amendment in Companies (Audit and Auditors) Rules, 2014
Posted Date : 14-Oct-2014 , 09:16:24 pm | Posted By CASANSAAR
In exercise of powers conferred by sub-sections (1), (2) and (4) of section 139, sub-sections (1) and (2) of section 140, sub-section (3) of section 141, sub-sections (2), (3), (8) and (12) of section 143, sub-section (3) of section 148 read with sub-sections (1) and (2) of section 469 of the Compan...
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Corporate Law |
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0 | Hits : 862
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Now, you can send Money through Facebook, Twitter
Posted Date : 14-Oct-2014 , 09:10:27 am | Posted By CASANSAAR
Social networking sites are slowly emerging as mini-banks for users!
While private sector lender Kotak Mahindra Bank (KMB) has launched a Facebook-based instant fund transfer service in India, French banking major Groupe BPCE is teaming up with Twitter to allow its customers to ...
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Category :
Banking |
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0 | Hits : 1248
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RBI asks Banks to comply with address proof norms
Posted Date : 14-Oct-2014 , 09:08:40 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Monday said banksshould ensure that customers are not unnecessarily asked to submit additional proofs of addresses for current addresses, in cases where proofs of addresses for permanent addresses are already available.
In June 2014, RBI had said cu...
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Category :
Banking |
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0 | Hits : 685
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CBDT to promote over 200 officers to clear pending disputes
Posted Date : 14-Oct-2014 , 09:03:45 am | Posted By CASANSAAR
The Central Board of Direct Taxes has speeded up the process of promoting more than 200 officers to the commissioner level for redressing appeals piling up before the department, a top CBDT official said today.
"Currently, there are 2,50,000 appeals pending before commissioners. We ...
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Category :
Income Tax |
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0 | Hits : 632
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Companies/Agencies Seeking Verification of Chartered Accountants Qualification to Remit Fee - ICAI
Posted Date : 14-Oct-2014 , 08:56:17 am | Posted By CASANSAAR
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA(EXAMINATION DEPARTMENT)
In terms of the decision of the Finance Committee of the Institute taken at its 23rd meeting on the recommendations of the Examination Committee, it was decided to charge a sum of Rs.500/- per person as the education verificati...
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ICAI |
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0 | Hits : 1462
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Sebi bars DLF, Chairman K P Singh, Vice Chairman Rajiv Singh in IPO disclosure case
Posted Date : 13-Oct-2014 , 08:18:20 pm | Posted By CASANSAAR
Regulator Sebi has barred realty major DLF, as also six top executives including Chairman K P Singh, from securities markets for three years, after finding the company guilty of "active and deliberate suppression" of material information at the time of its public offer.
Those prohibited fro...
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Category :
Shares & Stock |
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0 | Hits : 917
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Golden Opportunity - CASANSAAR offers 20% Discount on Website Development on the Occasion of New Web Office
Posted Date : 13-Oct-2014 , 12:17:01 pm | Posted By CASANSAAR
On the Occasion of New Web Office, CASANSAAR offers its users a Discount of 20% on Website Development.
- You can now get your Professional Website developed on discounted Prices of Rs. 2500/- with 2 email id's having space of 2GB Each.- This offer is only for CA/CS/CMAs and for there own /...
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Corporate Law |
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0 | Hits : 1326
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MCA to prescribe road map for companies to adopt new account norms next week
Posted Date : 13-Oct-2014 , 08:10:23 am | Posted By CASANSAAR
The transition to a new framework for both financial reporting and tax reporting purposes will be a big change for companies and analysts say it may not be that smooth."Companies should start assessing the impact of Ind-AS adoption on their business, financial reporting, systems and processes, train...
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Corporate Law |
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0 | Hits : 1129
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