Supreme Court cancels 214 illegal coal blocks, gives companies six months to comply
Posted Date : 24-Sep-2014 , 02:50:12 pm | Posted By CASANSAAR
The 4 coal blocks that were spared are government-run, non joint ventures. Two of the exempted coal blocks are in Madhya Pradesh and two in Jharkhand. The apex court gave "six months" breathing time to the coal blocks that are already operational.
The 42 blocks would till then b...
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General |
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Mumbai University looks to avoid clash of TY BCom and CA Exams
Posted Date : 24-Sep-2014 , 01:39:55 pm | Posted By CASANSAAR
Mumbai University will frame the exam time-table for TYBCom students on odd days to avoid clashes with the chartered accountancy intermediate (IPC) exam.
Since many university students appear for IPC and not CA final exam in November, officials have decided to start the exams post November...
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Students Zone |
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Consider extension of Due date of ITR to 30.11.2014 - AP High Court to CBDT
Posted Date : 24-Sep-2014 , 10:03:39 am | Posted By CASANSAAR
In the High Court at Hyderabad for the States of Telangana and Andhra Pradesh, AIFTP –South Zone represented by Vice President for the State of Telangana and Vice President –Andhra Pradesh have filed two Writ Petition Nos. 28159 & 28672 of 2014 questioning the&nbs...
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Income Tax |
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Mars Orbiter Mission: India creates history, Mangalyaan enters Martian orbit
Posted Date : 24-Sep-2014 , 08:50:12 am | Posted By CASANSAAR
Finally the moment has arrived as India has created history in space. The country's first interplanetary mission Mars Orbiter Mission (MOM) entered the Martian orbit at around 8 am on Wednesday morning.
Prime Minister Narendra Modi was there to witness the...
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General |
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RBI panel gives roadmap for Bank Directors
Posted Date : 24-Sep-2014 , 08:07:03 am | Posted By CASANSAAR
A panel set up by the Reserve Bank of India has proposed that the Government and the RBI should consider laying a road map for prescribing certain specific qualification or certification while considering appointment of directors on the board of commercial banks.
It also proposed that a Bankin...
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Income Tax |
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Sebi approves new name for MCX Stock Exchange
Posted Date : 24-Sep-2014 , 08:03:54 am | Posted By CASANSAAR
The MCX Stock Exchange (MCX-SX) has a new name. According to a press release, the bourse has received the Securities and Exchange Board of India (Sebi)’s approval to rename it Metropolitan Stock Exchange of India (mSXI). The name change is part of the revamp the exchange ha...
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Shares & Stock |
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File validation utility (FVU) version 2.140 from FY 2007-08 to FY 2009-10 and 4.4 from FY 2010-11 and onwards released
Posted Date : 23-Sep-2014 , 05:35:34 pm | Posted By CASANSAAR
e-TDS / e-TCS returns prepared for FY 2005-06 and onwards (i.e. Forms 24Q, 26Q, 27Q and 27EQ) can be validated using this utility.
The e-TDS/TCS FVU is a Java based utility. JRE (Java Run-time Environment) [versions: SUN JRE: 1.4.2_02 or 1.4.2_03 or 1.4.2_04or IBM JRE:&nb...
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Income Tax |
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e-TDS/TCS RPU (Version 4.1) for Statements from FY 2007-08 onwards released
Posted Date : 23-Sep-2014 , 05:26:49 pm | Posted By CASANSAAR
e-TDS / e-TCS returns prepared for FY 2005-06 and onwards (i.e. Forms 24Q, 26Q, 27Q and 27EQ) can be validated using this utility.The e-TDS/TCS FVU is a Java based utility. JRE (Java Run-time Environment) [versions: SUN JRE: 1.4.2_02 or 1.4.2_03 or 1.4.2_04or IBM JRE:&nb...
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Income Tax |
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0 | Hits : 1618
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Syndicate Bank Chairman and Managing Director Sudhir Kumar Jain Sacked
Posted Date : 23-Sep-2014 , 02:41:03 pm | Posted By CASANSAAR
State-owned Syndicate Bank on Tuesday said that it has terminated its suspended chairman and managing director Sudhir Kumar Jain's term, with immediate effect.
"Syndicate Bank has informed the Exchange that the Central Government (vide their letter dated 22.09.2014), in terms of Sub-Clause ...
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Banking |
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No Need to Open Another Bank Account to Avail of Benefits Under Pradhan Mantri Jan Dhan Yojana (PMJDY)
Posted Date : 23-Sep-2014 , 11:58:35 am | Posted By CASANSAAR
Department of Financial Services, Ministry of Finance, Government of India has issued instructions that in case people are already holding bank accounts, they need not open another bank account to avail of benefits under Pradhan Mantri Jan Dhan Yojana (PMJDY). In fact insurance benefits are availabl...
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Banking |
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0 | Hits : 1291
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I-T dept launches enhanced, 'Single Window' Website for taxpayers
Posted Date : 23-Sep-2014 , 11:58:13 am | Posted By CASANSAAR
A revamped online portal of the Income Tax department was launched on Monday which will enable taxpayers to file returns or apply for a PAN card through a 'single window' format.
Taxpayers so far had to go to different official websites of the I-T department for these matters.
"An updated version ...
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Income Tax |
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0 | Hits : 1690
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FM Arun Jaitley admitted to Hospital
Posted Date : 22-Sep-2014 , 10:34:15 pm | Posted By CASANSAAR
Around a fortnight after being discharged from hospital after a surgery, Finance Minister Arun Jaitley was admitted in a hospital again today after his medical condition deteriorated slightly.
Jaitley had undergone a planned diabetes management surgery at a private hospital in Delhi on 2 Se...
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Income Tax |
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Gujarat High Court directs CBDT to extend due date for filing of ITR to 30-11-2014 subject to Sec. 234A interest
Posted Date : 22-Sep-2014 , 08:08:22 pm | Posted By CASANSAAR
The CBDT vide Order [F.NO.133/24/2014-TPL], dated 20-8-2014 had extended the due date for filing of tax audit report to November 30, 2014. However, the CBDT had not extended the due date for filing of the Income-tax Return ('ITR'). Consequently, many taxpayers were facing difficulty in fil...
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Income Tax |
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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 : 1306
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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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0 | Hits : 773
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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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0 | Hits : 1021
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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 : 920
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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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0 | Hits : 872
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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 : 1227
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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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1 | Hits : 1445
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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 : 872
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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 : 1341
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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 : 1529
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