SEBI notifies one-time registration system for brokers
Posted Date : 08-Oct-2014 , 08:35:03 pm | Posted By CASANSAAR
Simplifying procedural requirements in the capital markets, regulator Sebi today notified new norms that will require stock brokers and clearing entities to have one-time single registration process for operating across different bourses. The new regulations would replace the current pract...
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SEBI |
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Finance Ministry, RBI to unveil new monetary policy framework by Feb 1
Posted Date : 08-Oct-2014 , 08:22:16 am | Posted By CASANSAAR
The Finance Ministry aims to complete the formalities for implementation of the new Monetary Policy Framework Agreement by February 1. However, it will be left to the Reserve Bank of India to decide on the date of implementation.
The proposed framework aims to change the monetary policy for...
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RBI |
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RBI asks companies not to lower their guard on hedging forex exposure
Posted Date : 08-Oct-2014 , 08:21:20 am | Posted By CASANSAAR
A relatively stable rupee may be prompting corporates not to hedge their foreign currency exposures, but the Reserve Bank (RBI) is not comfortable with such a trending practice. RBI deputy governor H R Khan has warned Indian business entities against leaving their overseas borrowings unhedged, citin...
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RBI |
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Net Direct Tax Collection Up 7 Per Cent at Rs. 2.68 Lakh Crore in April-September
Posted Date : 08-Oct-2014 , 08:06:58 am | Posted By CASANSAAR
Net direct tax collection has risen 7.09 per cent to Rs.2,68,836 crore in the first six months of the current fiscal year (2014-15).
It was Rs. 2,51,028 crore in the corresponding period of fiscal year 2013-14, the Finance Ministry said in a statement.
Gross direct t...
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Income Tax |
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0 | Hits : 712
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Registration of companies declines 50 per cent on compliance norms
Posted Date : 07-Oct-2014 , 08:14:27 am | Posted By CASANSAAR
The registration of companies has halved in the first five months of this financial year, with some analysts blaming it on cumbersome compliance requirements of the new companies act. The number of companies that were registered in April-August fell to 21,260 from 43,000 a year earlier, accordi...
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Corporate Law |
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Despite RBI norm, forensic audits of only 12 banks filed
Posted Date : 07-Oct-2014 , 08:11:03 am | Posted By CASANSAAR
More than a year after RBI has made forensic audit compulsory for major bank loans that run into trouble, only 12 such reports have been filed by the auditors.
Even among those there are few actionable points for the banks to file cases like classifying the borrowers as wilful defaulters. T...
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Auditing |
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0 | Hits : 1137
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Govt Asks PSU Banks To Tighten High-value Fixed Deposit Norms
Posted Date : 06-Oct-2014 , 02:36:50 pm | Posted By CASANSAAR
Following reports of frauds at Dena Bank and Oriental Bank of Commerce, the Finance Ministry has asked public sector banks to tighten norms for high-value fixed deposits (FD). As per preliminary forensic audit report, frauds worth Rs 436 crore were committed in these banks.
Banks have been asked to...
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Banking |
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HC relief for student seeking wheelchair access at exam centre
Posted Date : 06-Oct-2014 , 09:05:00 am | Posted By CASANSAAR
The Bombay high court has directed the Institute of Chartered Accountants of India (ICAI) and the Brihan Maharashtra College of Commerce (BMCC) here to make necessary arrangements for a wheelchair-bound student to appear for her chartered accountancy (CA) intermediate exam in November.
In an ...
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Students Zone |
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Access your Provident Fund account online from Oct 16
Posted Date : 06-Oct-2014 , 09:04:43 am | Posted By CASANSAAR
Nearly 50 million members of Employees' Provident Fund Organisation (EPFO) will be able to access their PF accounts online on real time basis by mid-October, an official said Sunday.
EPFO subscribers would be able to access their permanent or universal account numbers (UANs) through a dedic...
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Corporate Law |
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0 | Hits : 1576
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Tax Department to publish list of Service Tax defaulters
Posted Date : 06-Oct-2014 , 08:54:29 am | Posted By CASANSAAR
The revenue authority plans to prepare a list of service tax defaulters and publish it. This is part of the arrear recovery plan for all indirect taxes, such as customs duty, excise duty and service tax.
“In service tax law, provision is available for publication of the names of defau...
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Service Tax |
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Corporate Affairs Min says simplifying procedures under new cos law
Posted Date : 04-Oct-2014 , 08:58:48 am | Posted By CASANSAAR
Making efforts to ensure smooth implementation of the new companies law, the Ministry of Corporate Affairs is working on simplifying procedures by way of notifications and circulars.
The Companies Act, 2013 – that replaces the nearly six-decade old law governing corporates in the coun...
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Corporate Law |
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Punjab govt raises VAT on diesel, cold drinks, cigarette
Posted Date : 04-Oct-2014 , 08:57:13 am | Posted By CASANSAAR
People will have to pay more for diesel, aerated drinks and cigarette in Punjab with SAD-BJP led state government raising value added tax (VAT) on these products.
In a notification issued on October 1, Punjab excise and taxation department has increased VAT rate on diesel (other than premium diesel...
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VAT |
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Banks open 5.29 cr accounts under Jan Dhan, issue 1.78 cr RuPay cards
Posted Date : 03-Oct-2014 , 07:50:54 am | Posted By CASANSAAR
The Finance Ministry on Thursday said 5.29 crore bank accounts have been opened and 1.78 crore RuPay debit cards have been issued so far under Prime Minister Narendra Modi's flagship Jan Dhan Yojana.
"As on date, 5.29 crore accounts have been opened under PMJDY, of which 3.12 cror...
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Banking |
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Life Insurance Corporation gets Rs 11,500 crore in income tax refunds, policy holders to benefit
Posted Date : 03-Oct-2014 , 07:44:22 am | Posted By CASANSAAR
Life Insurance Corporation (LIC) has received more than Rs 11,500 crore in income tax refunds and a big chunk of the amount would be passed on to policyholders, an official said."We received I-T refunds in two tranches aggregating to more than Rs 11,500 crore, after winning a dispute with the I...
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Income Tax |
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0 | Hits : 851
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Bankers seek clarity on tax treatment of new Additional Tier-I bonds under Basel-III
Posted Date : 02-Oct-2014 , 07:55:35 am | Posted By CASANSAAR
Bankers have sought clarity from the finance ministry on treatment of additional tier-I bonds under Basel-III guidelines that prescribe how much capital banks should hold. The government has been pushing banks to raise capital through this instrument, popularly known as AT1 bonds, to meet fund requi...
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Banking |
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Exchange Rate of Foreign Currency Relating to Imported and Export Goods Notified
Posted Date : 02-Oct-2014 , 07:45:04 am | Posted By CASANSAAR
In exercise of the powers conferred by Section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.87/2014-CUSTOMS (N.T.), dated the 18th September, 2014 vide number S.O. 24...
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Excise |
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0 | Hits : 907
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Empanelment of Members for the Assignment of
Posted Date : 01-Oct-2014 , 02:39:27 pm | Posted By CASANSAAR
October 1, 2014
Empanelment of members for the assignment of “Checkers” for CA examinations to be held in November 2014Checking of totaling of marks etc in the answer books of CA examinations, after they have been evaluated by the examiners, is being assigned/carried out by members of t...
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ICAI |
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Due date for deposit of TDS for month of September, 2014 extended to October 10, 2014
Posted Date : 01-Oct-2014 , 02:24:43 pm | Posted By CASANSAAR
Considering the consecutive holidays owing to the festive season and weekend during the first week in the month of October, 2014, the Central Board of Direct Taxes has issued an order to extend the last date of deposit of tax deducted at source/tax collected at source during the month...
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Income Tax |
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0 | Hits : 2161
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MCX-SXCCL seeks candidates for Managing Director, CEO Post
Posted Date : 01-Oct-2014 , 08:17:46 am | Posted By CASANSAAR
The capital market watchdog Sebi's nod for the clearing house is subject to various conditions, including that a Managing Director and Compliance Officer is appointed "at the earliest". MCX-SXCCL were among the entities where Jignesh Shah-led FTIL was asked by the regulator to divest stake in t...
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General |
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LLPs can be admitted as sub-brokers, says SEBI
Posted Date : 01-Oct-2014 , 08:11:50 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi), which regulates stock markets in India, has clarified that entities structured as Limited Liability Partnerships (LLPs) can also be admitted as sub-brokers. Sub-brokers work under the broker, working like branches of the main broker in various locat...
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SEBI |
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RBI relaxes KYC norms for opening bank accounts
Posted Date : 01-Oct-2014 , 08:04:25 am | Posted By CASANSAAR
The Reserve Bank of India, RBI, relaxed Know Your Customer, KYC norms by allowing self-certification of documents for opening bank accounts.
RBI has asked banks to allow self-certified copy of the document by mail, or post for opening an account. Banks have also been asked not to seek fresh d...
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RBI |
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Extension of Date for Empanelment as Observers for Nov/Dec. 14 CA Exams/CPT, extended to 7th October 2014 - ICAI
Posted Date : 30-Sep-2014 , 03:12:06 pm | Posted By CASANSAAR
Empanelment of members to act as Observers for CA examinations/Common Proficiency Test (CPT) to be held in November/December 2014ICAI had invited applications from eligible members to undertake the assignment of Observers in the CA examinations/CPT to be held in Nov. 2014 vide announcement dated 29t...
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ICAI |
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Reserve Bank of India keeps key rates unchanged
Posted Date : 30-Sep-2014 , 03:00:35 pm | Posted By CASANSAAR
The Reserve Bank of India did not spring up any surprise move in its fourth bi-monthly monetary policy review. The central bank has kept key rates unchanged.
This is the fourth consecutive time that the RBI has kept key interest rates unchanged despite clamours from the industry to cut rate...
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RBI |
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SC's coal verdict: Banks to approach RBI for restructuring assets
Posted Date : 30-Sep-2014 , 08:18:15 am | Posted By CASANSAAR
Acknowledging that the Supreme Court order on mass cancellation of coal block licences may impact banks' asset quality, Financial Services Secretary G S Sandhu said yesterday that banks will approach RBI for restructuring such assets. Speaking to media persons in Mumbai yesterday Sandhu said, e...
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Service Tax |
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0 | Hits : 1082
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Excise department to clamp down on hotels evading luxury tax
Posted Date : 30-Sep-2014 , 08:14:00 am | Posted By CASANSAAR
Concerned over low luxury tax collection, theexcise department has geared up to clamp down on hotels,banquet halls, Spa evading luxury tax in the national capital.
The department, which is also in-charge of luxury tax collections in Delhi, will take the help of law enforcemen...
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Excise |
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0 | Hits : 930
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Sebi Grants Conditional Renewal to MCX-SX Clearing Corporation
Posted Date : 30-Sep-2014 , 08:04:27 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) on Monday granted conditional one-year renewal of recognition to MCX-SX Clearing Corporation, which were among the entities in which Jignesh Shah-led Financial Tech or FTIL was asked by the regulator to divest its stake.
Capital market watchdog Sebi...
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SEBI |
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0 | Hits : 706
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Don't harass taxpayers on pretext of scrutiny: CBDT to I-T
Posted Date : 29-Sep-2014 , 08:58:37 am | Posted By CASANSAAR
Taking a stern view of the undue "harassment" of taxpayers during scrutiny of their cases, the CBDT has issued orders asking the I-T department to complete these enquiries in quick time and not drag them "unnecessarily". Compulsory scrutiny cases have been a matter of grieva...
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Income Tax |
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Banks get a nudge from RBI to mine social media, know Customers better
Posted Date : 29-Sep-2014 , 08:57:44 am | Posted By CASANSAAR
The Reserve Bank of India is nudging banks to mine Facebook, Twitter and other social media data to access customers’ social profiles and possibly gain insights into individual customer behaviour.
RBI deputy governor, HR Khan, at a September 16 presentation in a conference in Mumbai, ...
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Banking |
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0 | Hits : 824
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Net direct tax collection at Rs 2.60 lakh crore
Posted Date : 29-Sep-2014 , 08:48:04 am | Posted By CASANSAAR
Net direct tax collection so far in the current fiscal stood at Rs 2.60 lakh crore, said a senior finance ministry official.
The gross direct tax collection till September 26, 2014-15 fiscal, was at Rs 3.37 lakh crore.
Of this, corporate tax contributed was Rs 1.55 lakh crore during the period, th...
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Income Tax |
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Justice Dattu sworn in as Chief Justice of India
Posted Date : 28-Sep-2014 , 01:50:41 pm | Posted By CASANSAAR
ustice Handyala Lakshminarayanaswamy Dattu was on Sunday sworn in as the 42nd Chief Justice of India by President Pranab Mukherjee.
63-year-old Justice Dattu took oath in the name of God at a brief ceremony held at the chandeliered Durbar Hall of the Rashtrapati Bhawan.
Vice Presid...
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General |
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