2 Auditors under pressure to change MoC of Rs 400 cr NPA
Posted Date : 09-Aug-2014 , 09:35:07 pm | Posted By CASANSAAR
Two well known Auditors of the Jammu and Kashmir Bank under considerable influence and pressure to change the Memorandum of Change (MoC) of a Mumbai based real estate company who have defaulted on payments worth Rs 400 crores to J&K Bank.
Sources told Kashmir Monitor that these two auditors dur...
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Auditing |
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CBI probe into IDBI Bank loan to Kingfisher Airlines
Posted Date : 09-Aug-2014 , 09:22:51 pm | Posted By CASANSAAR
The Central Bureau of Investigation (CBI) has served an inquiry notice on IDBI Bank over a loan of Rs 950 crore it extended to Vijay Mallya-led troubled airline Kingfisher Airlines, saying this extent of exposure was not bona fide.
The probe agency`s notice to IDBI comes days after it arrested the ...
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Banking |
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0 | Hits : 1108
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Only Advocates can appear before VAT Authority - HC
Posted Date : 09-Aug-2014 , 01:43:35 pm | Posted By CASANSAAR
Honorable High Court Lucknow pass an interim orger against all Professionals except Advocates that only Advocate can appear before VAT Authority.
No person whosoever, may be permitted to advertise in the Newspaper or any leaflet, inviting assesses for the purpose of filing of return or arguing befo...
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VAT |
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0 | Hits : 2471
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Under 3 Per Cent of Indians Pay Income Tax
Posted Date : 09-Aug-2014 , 08:58:29 am | Posted By CASANSAAR
Out of a total population of 127 crore there were slightly over 3.46 crore effective tax payers during 2012-13 financial year, the government told Parliament.
In a written reply to Lok Sabha on Friday, Minister of State for Finance Nirmala Sitharaman said while there were 3,46,04,064 indivi...
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Income Tax |
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1 | Hits : 1303
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RBI revises guidelines on mortgage guarantee companies
Posted Date : 09-Aug-2014 , 08:57:16 am | Posted By CASANSAAR
The Reserve Bank on Friday revised guidelines for mortgage guarantee companies and said that guarantees provided by them may be treated as contingent liabilities, for which credit conversion factor would be 50 per cent.
"While calculating capital adequacy of MGCs, mortgage guarantees provid...
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RBI |
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0 | Hits : 983
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Banks
Posted Date : 08-Aug-2014 , 08:08:11 pm | Posted By CASANSAAR
State bank of India (SBI) and other commercial banks have a combined exposure of Rs 40,000 crore to scam-ridden Bhushan Steel and are in talks to appoint a management agency to monitor the operations of the company, said Arundhati Bhattacharya, chairman of the country’s largest lender.
...
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Banking |
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Financial Inclusion Mission to be Launched on 15th August 2014 to Provide all Households in the Country with Banking Facilities
Posted Date : 08-Aug-2014 , 08:02:11 pm | Posted By CASANSAAR
As per Census 2011, 58.7% household are availing banking services in the country. Under the Swabhimaan campaign, the Banks were advised to provide appropriate banking facilities to habitations having a population in excess of 2000 (as per 2001 census) by March 2012. The banks identified approxi...
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Banking |
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0 | Hits : 878
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SEBI imposes Rs 13 crore fine on RIL for non-disclosure of earnings ratio
Posted Date : 08-Aug-2014 , 07:59:17 pm | Posted By CASANSAAR
In one of its biggest penalties for non-disclosure of a key earnings ratio, the Securities and Exchange Board of India, SEBI today imposed a penalty of Rs. 13 crore on Reliance Industries Limited. The case dates back to April 2007 when alleged irregularities were reported in issuance of 12 cror...
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SEBI |
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Pass Percentage of CA Final May / June 2014 Exam
Posted Date : 08-Aug-2014 , 02:09:18 pm | Posted By CASANSAAR
Pass Percentage of CA Final May / June 2014 Exam
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Students Zone |
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CA Final Result for May / June 14 Exams is likely to be declared today - GOOD LUCK
Posted Date : 08-Aug-2014 , 08:24:57 am | Posted By CASANSAAR
he result of the Chartered Accountants Final Examination held in May/June, 2014 is likely to be declared today on Friday, the 8th August, 2014 around 2.00 P.M. and the same as well as the merit list (candidates securing a minimum of 55% and above marks and upto the maximum of 50th Rank and in accord...
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Students Zone |
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1 | Hits : 1687
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RBI issues guidelines on unified bill payment system
Posted Date : 08-Aug-2014 , 08:18:17 am | Posted By CASANSAAR
The Reserve Bank of India on Thursday said the proposed Bharat Bill Payment System (BBPS) will function as a tiered structure for operating the country’s bill payment system. It will have a single brand image providing convenience of ‘anytime anywhere’ payment to customers.
...
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RBI |
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0 | Hits : 1111
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Finance (No.2) Bill - 2014 is enacted as Finance (No.2) Act, 2014
Posted Date : 08-Aug-2014 , 08:07:48 am | Posted By CASANSAAR
Honorable President of India has assented to the Finance (No.2) Bill, 2014 on 6th August, 2014, with this the Finance (No.2) Act, 2014 No.25 of 2014 has come into effect.
So now all the provision of Budget 2014 presented by Finance Minister Arun Jaitley vide his Budget pr...
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Income Tax |
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0 | Hits : 1459
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CBI arrests Bhushan Steel Vice Chairman in Syndicate Bank graft case
Posted Date : 07-Aug-2014 , 10:07:54 pm | Posted By CASANSAAR
Bhushan Steel vice chairman Neeraj Singhal was arrested by the Central Bureau of Investigation (CBI) in the Syndicate Bank bribery case soon after a city court issued a non-bailable warrant against him on Thursday.
The agency has accused Mr. Singhal of being part of the conspiracy to bribe ...
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Category :
General |
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0 | Hits : 1114
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Sebi files complaints against Satyam Founder Raju and others
Posted Date : 07-Aug-2014 , 10:04:24 pm | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) has filed two complaints against the founder of erstwhile Satyam Computer Services Ramalingam Raju, his brother Rama Raju and others in connection with the account fraud which sounded the death-knell of the IT firm.
Sebi had earlier slapped a penalt...
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SEBI |
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0 | Hits : 881
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ICAI should clarify about the email received by the Members
Posted Date : 07-Aug-2014 , 10:27:46 am | Posted By CASANSAAR
A Lot of Professional Colleagues are getting email from ICAI (email@icai.ind.in) to fill the details & send it to jorapur@icai.in. Every one are confused about such emails. ICAI should clarify about such kind of emails
Some Questions arises in the Mind...
1. ICAI have all the D...
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ICAI |
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RBI asks asset reconstruction companies to invest 15% in securities receipts
Posted Date : 07-Aug-2014 , 08:32:05 am | Posted By CASANSAAR
In a bid to improve the sale of bad loans in the banking system, the Reserve Bank of India has tightened the regulatory framework for asset reconstruction companies.
The RBI said ARCs will henceforth have to mandatorily invest and hold minimum 15 per cent (against 5 per cent earlier) of the...
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RBI |
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0 | Hits : 1099
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Tax agencies unearth Rs 10,000cr bogus bill scam
Posted Date : 07-Aug-2014 , 08:25:13 am | Posted By CASANSAAR
In a major crackdown on illegal transactions, Indian tax agencies have unearthed more than Rs 10,000 crore of tax evasion due to issuance of fake bills as a part of its ongoing investigations. The department which was investigating for the last two years is expected to submit its report by September...
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Category :
Income Tax |
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0 | Hits : 1253
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Bill to give SEBI special powers passed by Lok Sabha
Posted Date : 06-Aug-2014 , 07:51:36 pm | Posted By CASANSAAR
The Securities Laws (Amendment) Bill, 2014, aims to empower capital market watchdog Securities and Exchange Board of India (Sebi) by giving powers such as authority to seek call data records, was Wednesday approved by the Lok Sabha.
The Bill would give more teeth to Sebi to crackdown on fraudulent ...
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SEBI |
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0 | Hits : 912
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Government Approves Fourteen (14) Proposals of Foreign Direct Investment (FDI) Amounting to about Rs. 1528.38 Crore
Posted Date : 06-Aug-2014 , 07:16:35 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its 207th meeting held on 4th July, 2014, the Government has approved Fourteen (14) proposals of Foreign Direct Investment (FDI) amounting to Rs. 1528.38 crore approximately.
Deta...
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Finance |
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Revenues Worth Rs 153 Cr With ICAI Councils: Govt
Posted Date : 06-Aug-2014 , 08:30:28 am | Posted By CASANSAAR
The government today said last fiscal revenues worth over Rs 153 crore were available with the regional councils of the Institute of Chartered Accountants of India (ICAI), and councils of the Institute of Cost Accountants of India had about Rs 40 crore.
These amounts are provisional figures for 201...
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ICAI |
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0 | Hits : 1512
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Politicians, TV anchors, pump owners on boards of Public sector Banks
Posted Date : 06-Aug-2014 , 08:23:31 am | Posted By CASANSAAR
You might expect renowned financial or business experts to sit on the boards of banks, but that isn't always true in the case of state-run banks. Petrol pump owners, a Doordarshan anchor, the head of a women's club, trustees of religious boards and a clutch of small-time politicians are some of the ...
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Category :
Banking |
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0 | Hits : 944
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GST likely to be introduced shortly: Sitharaman
Posted Date : 06-Aug-2014 , 08:14:26 am | Posted By CASANSAAR
The proposed new indirect tax regime, Goods and Services Tax, is likely to be introduced shortly, the government said Tuesday.
"GST is likely to be introduced shortly...," Minister of State for Finance Nirmala Sitharaman said in the Rajya Sabha while answering a question on Central Sales Tax paymen...
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GST |
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Syndicate Bank fraud: Jain helped hide Rs 100-cr NPAs
Posted Date : 05-Aug-2014 , 03:18:05 pm | Posted By CASANSAAR
S K Jain, suspended chairman and managing director (CMD) of Syndicate Bank, had allegedly prevented loans of over Rs 100 crore on Bhushan Steel and Prakash Industries from being declared as non-performing assets (NPAs), agency sources said on Monday.
Jain was suspended...
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Banking |
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0 | Hits : 1208
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RBI keeps key rates unchanged, cuts SLR by 50 bps
Posted Date : 05-Aug-2014 , 11:17:07 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) in its third bi-monthly monetary policy statement for 2014-15 kept the repo rate unchanged at 8%. The reverse repo rate was kept unchanged at 7% and Cash Reserve Ratio ( CRR) was maintained at 4%. The SLR was cut by 50 bps to 22%. "The moderation in CPI headline ...
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RBI |
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0 | Hits : 1302
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CAG wants all accounts of PPP projects Audited
Posted Date : 05-Aug-2014 , 08:57:43 am | Posted By CASANSAAR
Observing that there were risks in estimation of revenue streams of projects under public-private partnership mode which might significantly impact the exchequer or consumers, the Comptroller and Auditor General (CAG) on Monday asked the government to ensure all PPP agreements we...
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Auditing |
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0 | Hits : 1148
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Income Tax Department proposes to tax Realtors, Developers on unsold inventory
Posted Date : 05-Aug-2014 , 08:55:48 am | Posted By CASANSAAR
Home prices could soften, if the revenue department asks builders to pay taxes on their unsold stock of ready houses as per a proposal that is under consideration.
On the basis of a court order, which held that ready unsold flats held by builders as stockin-trade are liable to be taxed ...
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Category :
Income Tax |
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0 | Hits : 1367
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New Bill in Lok Sabha to give SEBI more teeth
Posted Date : 05-Aug-2014 , 08:42:24 am | Posted By CASANSAAR
A Bill to further empower the Securities and Exchange Board of India (SEBI) to check fraudulent investment schemes, to call for documents on entities under probe and provide for constitution of special courts to expedite the cases was introduced in the Lok Sabha.
It is essentially a Bill th...
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SEBI |
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0 | Hits : 1003
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CAG pulls up finance ministry on tax refunds
Posted Date : 05-Aug-2014 , 08:36:48 am | Posted By CASANSAAR
The finance ministry has been pulled up by the Comptroller & Auditor General (CAG) for making tax refunds of close to Rs 6,700 crore without Parliamentary authorization.In its latest report, tabled in Parliament last week, CAG said, the Public Accounts Committee too...
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Income Tax |
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0 | Hits : 1137
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ICAI should give representation to CBDT to Extend the applicability of revised Tax Audit report to A.Y. 2015-16
Posted Date : 04-Aug-2014 , 01:14:11 pm | Posted By CASANSAAR
Tax Audit reports been revised vide Notification No. 33/2014, F.No.133/1/2014-TPL dated 25th July, 2014 issued by Central Board of Direct Taxes, Ministry of Finance, Government of India.
The existing Form No. 3CA, Form No. 3CB and Form No. 3CD have been substituted vide notification n...
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Category :
Income Tax |
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1 | Hits : 3228
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Syndicate Bank chief
Posted Date : 04-Aug-2014 , 08:22:06 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) may review the lending procedures followed by banks, say top bankers, as several incidents over the past year including Saturday's arrest of the Syndicate Bank chairman have raised questions over the transparency of the process. The Central Bureau of Investigatio...
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RBI |
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0 | Hits : 1010
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