Date of filing ITR is extended to 30 Nov 2014 by Gujrat High Court
Posted Date : 22-Sep-2014 , 07:28:28 pm | Posted By CASANSAAR
EXTENSION GRANTED by Gujarat High Court...
Gujrat Court gave his verdict, Date of filing ITR is extended to 30 Nov 2014
Victory of Mission TAR 2014.
The Hon. Gujarat High court has pronounced that Direction is Given to the Central Board of Direct Taxes to Extend the due...
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Income Tax |
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Give Reasons for Seeking Information Under RTI: Madras High Court
Posted Date : 22-Sep-2014 , 08:22:20 am | Posted By CASANSAAR
Right To Information or RTI applicants must give reasons for seeking information, the Madras High Court has said, while giving relief to its Registry from disclosing file notings on a complaint against a Chief Metropolitan Magistrate.
A division bench comprising justices N Paul Vasanthakumar ...
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General |
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Assessees will not be made to wait to meet tax officials
Posted Date : 22-Sep-2014 , 07:37:02 am | Posted By CASANSAAR
In a taxpayer-friendly move, the revenue department has directed its officials to fix meetings with assessees in such a manner so that they do not have to wait.
As per the current practice, tax officials call assessees for meetings at one time and they have to wait for long hours for their ...
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Income Tax |
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0 | Hits : 1298
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Finance ministry to PSBs: Nudge companies on loan recovery
Posted Date : 22-Sep-2014 , 07:35:58 am | Posted By CASANSAAR
The finance ministry has asked state-run banks to nudge their defaulting corporate borrowers to sell off their non-core assets and repay the loans from the funds raised. The move comes after the ministry directed these banks to constitute board-level committees to monitor recovery and put in pl...
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Banking |
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Finance Minister to launch enhanced Single Window Website for Taxpayers
Posted Date : 21-Sep-2014 , 07:43:56 pm | Posted By CASANSAAR
Finance Minister Arun Jaitley will launch an updated version of the existing website of income tax department tomorrow to enable taxpayers to file easily their I-T returns or apply for a PAN card.
This updated version of the existing website of the Income Tax department-- www.incometaxindia.gov.in-...
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Income Tax |
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Govt plans to bring more clarity to related-party deals
Posted Date : 21-Sep-2014 , 11:59:35 am | Posted By CASANSAAR
The ministry of corporate affairs (MCA) is planning to give a clarification in a few months to bring coherence between accounting standards and the new companies law regarding related-party transactions. Companies are apprehensive that unless this is done, these will have to keep separate ...
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Corporate Law |
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0 | Hits : 909
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Alibaba IPO Makes Founder Jack Ma China's Richest Man
Posted Date : 21-Sep-2014 , 11:21:42 am | Posted By CASANSAAR
Web commerce giant Alibaba had the largest IPO in U.S. history on Friday, making its founder Jack Ma the richest man in China. Shares started at $68 and balooned to $92 before the closing bell.
The IPO places Alibaba's worth at $13 billion, with a $163 billion valuation slightly ahead of Am...
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Shares & Stock |
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Govt Re-Constitutes National Advisory Committee on Accounting Standards
Posted Date : 20-Sep-2014 , 08:40:54 am | Posted By CASANSAAR
The Ministry of Corporate Affairs has decided to re-constitute National Advisory Committee on Accounting Standards(NACAS) under the Chairmanship of Amarjit Chopra, a former President of Institute of Chartered Accountants of India (ICAI). The re-constitution assumes significance since Internatio...
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Corporate Law |
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0 | Hits : 1216
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RBI to banks: Be careful while opening accounts under Jan Dhan Yojana
Posted Date : 20-Sep-2014 , 08:35:25 am | Posted By CASANSAAR
The Reserve Bank today warned the banks to be more careful while opening accounts under the Jan-Dhan Yojana, saying that a single individual could open multiple accounts in the lure of Rs 1 lakh insurance cover.
"There are some caveats when the banks are implementing the financial inclusion...
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RBI |
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CBI to probe former finance minister P Chidambaram
Posted Date : 19-Sep-2014 , 10:46:44 pm | Posted By CASANSAAR
The CBI will investigate the circumstances of the FIPB approval given by the then Finance Minister P Chidambaram in the Aircel-Maxis deal in 2006. The agency told a special court in its chargesheet in the case that Mauritius-based M/s Global Communication Services Holdi...
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Finance |
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ICAI initiative on order dated 20th August, 2014 pronounced by a Bench of Income Tax Appellate Tribunal, Mumbai.
Posted Date : 19-Sep-2014 , 10:23:41 pm | Posted By CASANSAAR
ATTENTION OF MEMBERSICAI initiative on order dated 20th August, 2014 pronounced by a Bench ofIncome Tax Appellate Tribunal, Mumbai
Members are aware of the general remarks against ICAI made by Hon 'ble ITAT Mumbai Bench in respect of its order dated 20th August, 2014 wherein the tax adv...
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ICAI |
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Banks open 4 Crore accounts under Jan Dhan Yojana: FinMin
Posted Date : 19-Sep-2014 , 07:05:18 am | Posted By CASANSAAR
The finance ministry on Thursday said 40 million bank accounts have been opened under the Pradhan Mantri Jan Dhan Yojana and that banks have mobilised Rs 3,700 crore so far.
"Banks have opened 40 million accounts so far. Banks have mobilised about Rs 3,700 as deposits ...
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Income Tax |
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0 | Hits : 835
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New trends in tax evasion under CBDT lens
Posted Date : 19-Sep-2014 , 07:00:03 am | Posted By CASANSAAR
Tax authorities are planning to look more actively into suspicious transaction reports (STRs) that provide information on dubious funds as they step up efforts against the menace of black money.
It has asked field formations to provide feedback on what kind of relevant information these rep...
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Income Tax |
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0 | Hits : 1332
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Exchange Rate of Foreign Currency Relating to Imported and Export Goods Notified
Posted Date : 18-Sep-2014 , 10:37:11 pm | 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.75/2014-CUSTOMS (N.T.), dated the 4th September, 2014 vide number S....
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Custom |
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Date of Payment of the Sept. Instalment of Advance Tax Extended from 15th Sept.2014 to 15th Dec. 2014 for the Taxpayers in State of J&K
Posted Date : 18-Sep-2014 , 10:36:00 pm | Posted By CASANSAAR
Considering the large-scale devastation in the State of Jammu and Kashmir due to the natural calamity, the Central Board of Direct Taxes (CBDT) has extended the date for payment of second instalment of advance tax for companies and first instalment of advance tax for others for FY 2014-15 (AY 2015-1...
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Income Tax |
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Delhi HC Adjourned the TAR Deferment Case tomorrow for Final Hearing
Posted Date : 18-Sep-2014 , 12:26:48 pm | Posted By CASANSAAR
Tax Audit Deferment case with Delhi High Court.
Delhi High Court asked the CBDT for revenue losses in case ITR date extended. CBDT lawyer not able to answer. He wants time to file the counter affidavit.
Court also asked why the Forms for Tax Audit was not available on 1st April.
...
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Income Tax |
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Double taxation in VAT and service tax under HC scanner
Posted Date : 18-Sep-2014 , 07:49:44 am | Posted By CASANSAAR
The practice of charging value-added tax (VAT) and service tax on the entire bill amount by hotels and restaurants has come under the scanner of the Punjab and Haryana high court.
On the basis of a public interest litigation (PIL) filed by Sukhmani Foundation, Sector 33, a division benc...
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Corporate Law |
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0 | Hits : 1512
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100 billionaires in India; 6th globally: Wealth-X, UBS census
Posted Date : 18-Sep-2014 , 07:48:18 am | Posted By CASANSAAR
India has retained its sixth position in terms of number of billionaires with 100 such people collectively having USD 175 billion in networth, while globally the number of uber-rich has reached a record high of 2,325 persons.
According to the Wealth-X and UBS Billionaire Census 2014, releas...
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International Business |
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Deloitte may sign up 1.4 million sq ft of office space in Hyderabad
Posted Date : 18-Sep-2014 , 07:46:46 am | Posted By CASANSAAR
India's commercial real estate market is seeing big deals being struck once again in the top cities. In one of the largest leasing deals in the country, Deloitte is close to signing up 1.4 million sq ft of office space in Hyderabad for its BPO business. This isn't the only 1 million sq ft plus leasi...
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Auditing |
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0 | Hits : 1028
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RBI wants segregation of CMD post, Panel to appoint Directors
Posted Date : 17-Sep-2014 , 08:06:46 am | Posted By CASANSAAR
The Reserve Bank of India has proposed segregation of chairman and managing director (CMD) posts and a separate committee for appointment of directors on the board of PSU banks.
On corporate governance reforms in PSU banks, RBI Deputy Governor R Gandhi said the central bank has already reco...
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Banking |
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KPMG to do Forensic Audit of UCX; submit report in 6 weeks: FMC
Posted Date : 17-Sep-2014 , 08:04:36 am | Posted By CASANSAAR
Commodity markets regulator FMC on Tuesday said auditing firm KPMG has been appointed to conduct a forensic audit of the Universal Commodity Exchange after it found that its promoter allegedly siphoned off funds from the exchange.
The auditing firm will submit a detailed report in 4-6 weeks. Meanwh...
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Auditing |
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0 | Hits : 849
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Sebi Eases Related Party Transaction Norms for Listed PSUs
Posted Date : 17-Sep-2014 , 07:56:16 am | Posted By CASANSAAR
With the Securities and Exchange Board of India (Sebi) relaxing corporate governance norms, listed government companies may now be able to carry out related party transactions, including subsidy payments, without prior nod from minority shareholders.
In the wake of representations and deman...
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SEBI |
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Bypolls: 'Good days' for SP & Congress, BJP suffers a shock defeat
Posted Date : 16-Sep-2014 , 04:52:52 pm | Posted By CASANSAAR
The 33 Assembly and 3 Lok Sabha seats bypoll results have surely come as a big shocker for the ruling BJP at the Centre. After a resounding victory in the Lok Sabha elections in May, the Prime Minister Narendra Modi led BJP has tasted its first major defeat. The biggest shock for the BJP has come fr...
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General |
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CBDT extends due date for filing of return by two months for income-tax assessees in State of J&K
Posted Date : 16-Sep-2014 , 04:05:43 pm | Posted By CASANSAAR
Order under section 119 of the Income-tax Act, 1961.
Considering the large scale devastation in the State of Jammu & Kashmir due to heavy rains and floods, the Central Board of Direct Taxes, in exercise of powers conferred under section 119 of the Income-tax Act, 1961, hereby extends th...
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Income Tax |
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0 | Hits : 1339
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High Court defers plea on Tax Audit, leaves Chartered Accountants edgy
Posted Date : 16-Sep-2014 , 08:49:19 am | Posted By CASANSAAR
Chartered accountants (CAs) went into a tizzy on Monday with the Delhi High Court adjourning the writ petition which challenged the Central Board of Direct Taxes (CBDT) directive extending deadline for furnishing tax audit report (TAR) till Thursday. Accounting professi...
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Income Tax |
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0 | Hits : 2819
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SEBI relaxes Corporate Governance norms, extends deadline to induct Woman Director
Posted Date : 16-Sep-2014 , 08:09:40 am | Posted By CASANSAAR
The capital market regulator Securities and Exchange Board of India (SEBI) has relaxed the corporate governance norms for listed companies by making amendments in various provisions, including extending the deadline for appointment of at least one woman director to April 1, 2015 and also exempting s...
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SEBI |
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SBI begins to close several Society savings bank accounts
Posted Date : 16-Sep-2014 , 08:07:33 am | Posted By CASANSAAR
State Bank of India (SBI) has started closing savings accounts of several NGOs, trusts and other registered societies across the country, putting the spotlight on a banking rule that governs savings bank (SB) deposits.Several trusts and societies have confirmed to ET that they have received notices ...
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General |
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Government makes changes to CSR spending norms under the new companies law
Posted Date : 15-Sep-2014 , 08:21:57 pm | Posted By CASANSAAR
The government has made changes to the norms governing expenses on Corporate Social Responsibility (CSR) activities under the new companies law.Certain class of profitable companies are required to shell out at least two per cent of their three-year annual average net profit towards CSR works. The r...
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Corporate Law |
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0 | Hits : 797
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Money laundering: RBI takes action against erring Urban Cooperative Banks
Posted Date : 15-Sep-2014 , 08:07:43 am | Posted By CASANSAAR
Cracking down on money laundering, the Reserve Bank of India (RBI) has closed down six Urban Cooperative Banks (UCBs) which were suspected of being used to route illegal money. The central bank has also asked state governments to take stern action against any other erring UCBs after reports eme...
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RBI |
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Extension of last date for submission of application forms for Final/Intermediate(IPC) Nov.2014 for residents of the state of J&K
Posted Date : 14-Sep-2014 , 08:33:46 pm | Posted By CASANSAAR
11th September 2014
The Examination Committee, after considering the representation received from the branch of Northern India Regional Council at Jammu and Kashmir, relating to the hardships faced by the students due to the recent floods in the state of Jammu and Kashmir, decided that students res...
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Students Zone |
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