Govt to modify CSR norms for PSUs
Posted Date : 23-Jun-2014 , 08:19:01 am | Posted By CASANSAAR
Public sector companies will soon have to follow the social welfare spending norms as prescribed under the new companies law that will replace existing guidelines in this regard.
At present, Corporate Social Responsibility (CSR) spending by central public sector undertakings is based on gui...
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Corporate Law |
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Mandatory e-voting: SEBI norm to prevail for listed companies
Posted Date : 23-Jun-2014 , 08:17:57 am | Posted By CASANSAAR
Listed companies will have to conform to SEBI diktat of providing mandatory e-voting facility to all shareholder resolutions passed in general meetings.
This is even as the Corporate Affairs Ministry had recently clarified that e-voting would not be mandatory till December 31 this year.
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SEBI |
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MCA officials meet stakeholders on Cos Act review meeting, note industry concerns
Posted Date : 22-Jun-2014 , 09:22:10 am | Posted By CASANSAAR
From deferring the new Companies Act, 2013 by one year to bringing in a fresh law; from creating an ombudsman to bringing out comprehensive clarifications, were among the views expressed by a large number of stakeholders from India Inc, industry bodies and company law experts when they met the top o...
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Corporate Law |
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One mobile number or email ID can be used for a maximum of 4 user accounts as the Primary Contact in Income Tax E-Filing Portal
Posted Date : 21-Jun-2014 , 11:35:27 am | Posted By CASANSAAR
Income-Tax Department uses the registered contact details (Mobile number & E-mail ID) for all communications related to e-Filing. It is mandatory that all tax payers must have a valid contact details registered in e-Filing portal.
It is noticed that many registered users are not having ...
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Income Tax |
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0 | Hits : 2012
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Announcement for Tax payers for updating Contact Details (Mobile No. & email id) in E-Filing Portal
Posted Date : 21-Jun-2014 , 08:55:16 am | Posted By CASANSAAR
Income-Tax Department uses the registered contact details (Mobile number & E-mail ID) for all communications related to e-Filing. It is mandatory that all tax payers must have a valid contact details registered in e-Filing portal.
It is noticed that many registered users are not having au...
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Income Tax |
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0 | Hits : 2016
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RBI allows Foreigners to access forex futures, eases norms for Banks
Posted Date : 21-Jun-2014 , 08:16:53 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has set a limit of $10 million on banks' proprietary positions in exchange-traded currency futures and also allowed foreign portfolio investors to hedge their currency risk without any underlying up to the same limit, the apex bank said in separate releases on Friday....
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RBI |
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Rail passenger fares hiked by 14.2%, freight by 6.5%
Posted Date : 20-Jun-2014 , 08:27:52 pm | Posted By CASANSAAR
In an unpopular decision, railway passenger fare was today increased by 14.2% in all classes while freight charge was hiked by 6.5% with effect from June 25.
The decision of the Railways today restores an announcement of May 16, the day Lok Sabha electi...
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Budget |
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Announcement on Applicability of the Provisions of Section 143(12) of the Companies Act 2013 and the Related Rules to Periods beginning on or before 31st March 2014. - ICAI
Posted Date : 20-Jun-2014 , 04:40:02 pm | Posted By CASANSAAR
ANNOUNCEMENT1APPLICABILITY OF THE PROVISIONS OF SECTION 143(12) OF THE COMPANIES ACT 2013AND THE RELATED RULES TO PERIODS BEGINNING ON OR BEFORE 31ST MARCH 2014
Section 143(12) of the Companies Act 2013 requires the auditors of the companies to report to the Central Government on ...
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Auditing |
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Announcement on Applicability of Section 143(12) to Financial Years beginning on or after 1st April 2014. - ICAI
Posted Date : 20-Jun-2014 , 04:39:11 pm | Posted By CASANSAAR
ANNOUNCEMENT1APPLICABILITY OF SECTION 143(12) TO FINANCIAL YEARS BEGINNING ON OR AFTER 1ST APRIL 2014
The Council of the Institute of Chartered Accountants of India, at its adjourned 333rd meeting held on 18th June 2014, considered the issue of applicability of the provisions of s...
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Auditing |
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Announcement on Applicability of the Provisions of Section 143(3)(i) of the Companies Act 2013 and the Related Rules. - ICAI
Posted Date : 20-Jun-2014 , 04:38:29 pm | Posted By CASANSAAR
NNOUNCEMENT1APPLICABILITY OF THE PROVISIONS OF SECTION 143(3)(i) OF THE COMPANIES ACT 2013 AND THE RELATED RULES
Section 143(3)(i) of the Companies Act 2013 requires the auditors of the companies to report as whether the company has adequate internal financial controls system...
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Auditing |
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Residents, non-residents allowed to carry up to Rs 25,000 abroad: RBI
Posted Date : 20-Jun-2014 , 08:45:07 am | Posted By CASANSAAR
The Reserve Bank permitted residents and non-residents, except Pakistanis and Bangladeshis, to carry up to Rs 25,000 in Indian currency notes while leaving the country. Earlier, Indians travelling abroad were permitted to carry only up to Rs 10,000, while foreigners were not allowed to carry Indian ...
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RBI |
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MHA asks NGOs to inform RBI on foreign funds
Posted Date : 20-Jun-2014 , 08:41:11 am | Posted By CASANSAAR
Acting on Intelligence Bureau's recommendation, the Ministry of Home Affairs on Thursday put on hold direct funding of NGOs from abroad. The MHA has directed the Reserve Bank of India of Indian to put on hold foreign funding to NGOs. Also, NGOs will have to inform the RBI prior about any ...
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General |
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PSUs must have 25% minimum public shareholding in 3 years: SEBI
Posted Date : 20-Jun-2014 , 08:33:32 am | Posted By CASANSAAR
In a bid to streamline existing regulations and boost retail participation in the markets, the board of the Securities and Exchange Board of India on Thursday cleared a series of reform measures relating to primary markets, offer for sale, employee benefit schemes along with regulation for research ...
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SEBI |
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ICAI Signs Memorandum of Understanding with the Saudi Organization for Certified Public Accountants
Posted Date : 20-Jun-2014 , 08:28:44 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India signed a Memorandum of Understanding with the Saudi Organization for Certified Public Accountants (SOCPA) yesterday at ICAI Bhawan, New Delhi. The MoU interalia provides that both ICAI and SOCPA would be working together in establishing possible c...
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ICAI |
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CBDT plans new posts to deal with rising tax-dispute cases
Posted Date : 19-Jun-2014 , 08:34:21 am | Posted By CASANSAAR
Concerned over the rising number of tax disputes with multi-national companies, the income tax department is planning to create more posts in the international taxation division to handle sticky issues.
Sources told The Indian Express that central board of direct taxes (CBDT) is in the proc...
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Income Tax |
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SEBI Issues New Norms for Public Issuance of Debt Securities
Posted Date : 18-Jun-2014 , 10:16:07 pm | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) on Tuesday issued new norms for public issuance of debt securities under which such offers have to be of minimum Rs. 100 crore, while issuers would need to make additional disclosures and attain at least 75 per cent subscription.
Market re...
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SEBI |
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RBI asks banks to disclose sector-wise loans from next fiscal
Posted Date : 18-Jun-2014 , 09:18:19 pm | Posted By CASANSAAR
The RBI today asked banks to make sector-wise disclosure of their advances from 2014-15 onwards with a view to encourage them to actively manage exposure to various segments.
"Banks are advised to disclose sector-wise advances in the 'Notes to Accounts' to the financial statements as per the ...
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RBI |
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Union Budget 2014-15 likely to be presented on July 09/10
Posted Date : 18-Jun-2014 , 09:28:17 am | Posted By CASANSAAR
Finance Minister Arun Jaitly is likely to present the Union Budget for 2014-2015 in Parliament on on July 09/10 as per sources.
The budget session of Parliament is likely to be convened from July 07 while the Rail Budget will be presented on July 08, sources told Zee Media.
Both the bu...
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Budget |
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Now, transfer funds from US to Indian bank accounts instantly
Posted Date : 18-Jun-2014 , 08:37:33 am | Posted By CASANSAAR
You can now transfer money from the United States to any bank account in India on an instant basis.
Punjab National Bank (PNB) and Nasdaq-listed Xoom Corporation have partnered to roll out instant bank deposit services to bank accounts in India.
The instant money transfer will be a...
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Banking |
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Vodafone tax dispute: Former Chief Justice of India RC Lahoti named arbitrator
Posted Date : 18-Jun-2014 , 08:28:54 am | Posted By CASANSAAR
The stage is being set for international arbitration for the Rs 20,000-crore tax dispute between New Delhi and British telecom major Vodafone, with both sides appointing their arbitrators. Sources told FE that the Centre on Monday appointed former chief justice RC Lahoti as its arbitrator in the hig...
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Income Tax |
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RBI Tightens Anti-Money Laundering Norms for Companies
Posted Date : 17-Jun-2014 , 08:48:45 am | Posted By CASANSAAR
The RBI has tightened the anti-money laundering (AML) norms by asking companies to appoint a designated director who can impose fines of up to Rs. 1 lakh if an employee is found guilty of violation.
"If the director, in the course of any inquiry, finds that a reporting entity or i...
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RBI |
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SEBI ordinance challenged in Madras high court
Posted Date : 17-Jun-2014 , 08:46:45 am | Posted By CASANSAAR
A public interest litigation (PIL) filed in Madras high court has challenged the constitutional validity of the fresh promulgation of the Securities Laws (Amendment) Second Ordinance. The first bench admitted the petition and called for Sebi's respose in three weeks time. &n...
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SEBI |
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Abolish Revenue Secretary post; merge CBDT, CBEC, says Tax Administration Reform Commission
Posted Date : 17-Jun-2014 , 08:35:56 am | Posted By CASANSAAR
Recommending far-reaching reforms in tax administration, a government committee has suggested abolition of the post of Revenue Secretary, merger of CBDT and CBEC and broaden the use of Permanent Account Number (PAN). The Tax Administration Reform Commission (TARC), headed by Parthasarathi Shome...
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Income Tax |
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0 | Hits : 1041
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Golden Opportunity for Professionals (CA, CS, CMA) by CASANSAAR - Domain + Website + Hosting + 2 email id @ Just Rs.3100
Posted Date : 16-Jun-2014 , 08:35:44 am | Posted By CASANSAAR
CASANSAAR offers a Golden opportunity for Professionals, where they could create their own stunning website with multiple designs and templates to choose. It will be completely your own space, which is going to be a Dynamic Website and could be edited as per your wish.
By payin...
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General |
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Bain Capital Sues Ernst & Young (EY) Over Alleged $60m Loss in Lilliput Kidswear
Posted Date : 16-Jun-2014 , 08:33:03 am | Posted By CASANSAAR
Bain Capital Partners, along with 10 other subsidiaries, is suing EY, known as Ernst and Young until 2013, in the U.S. for recommending that the Boston-based company invest in an Indian kids-wear company, Reuters reported Friday.
Boston-based Bain claims that it invested nearly $60 million ...
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Auditing |
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0 | Hits : 1394
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LawMin no to MCA proposal on taking control of FTIL
Posted Date : 16-Jun-2014 , 08:10:16 am | Posted By CASANSAAR
The ministry of law and justice has rejected the ministry of corporate affairs’ proposal to invoke legal provisions to take control of Financial Technologies India Ltd (FTIL) for ‘deliberate bungling’ in National Spot Exchange Ltd (NSEL) that is under scanner for Rs 5,500 crore pay...
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Corporate Law |
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RBI to announce rules for on-tap bank licences soon
Posted Date : 15-Jun-2014 , 08:18:27 am | Posted By CASANSAAR
The RBI will ‘shortly’ come up with new guidelines for differentiated as well as full-service bank licences and they will be issued on-tap basis, its deputy governor R Gandhi said on Saturday.
“We are working on guidelines for both full-service commercial banks and differe...
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Banking |
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Government to look into changes needed in Companies Act
Posted Date : 14-Jun-2014 , 04:30:06 pm | Posted By CASANSAAR
Union Commerce Minister Nirmala Sitharaman has said that a meeting with all stakeholders will be held next week in Delhi to look at the changes that need to be made to the new Companies Act. Emphasising on the need to review the Act, the minister also said that it is time to take all measures necess...
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Corporate Law |
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0 | Hits : 1399
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Differently abled CA Sarika Jain clears Civil Services Exam in first attempt
Posted Date : 14-Jun-2014 , 08:30:07 am | Posted By CASANSAAR
Not letting her disability come in the way of reaching her goals has become Sarika Jain's second nature. The polio stricken Odisha woman has cleared the civil service examination in her first attempt, two years after qualifying the tough Chartered Accountancy exam.
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ICAI |
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Centre may hike Income Tax exemption limit from Rs 2 lakh to Rs 5 lakh
Posted Date : 14-Jun-2014 , 08:25:03 am | Posted By CASANSAAR
In what could probably become one of the landmark reforms by the Narendra Modi government, sources tell CNN-IBN that the Centre is likely to increase the Income Tax slab limit for exemption from Rs 2 lakh to Rs 5 lakh.
The Finance Ministry has also sought a report on the same from the I-T d...
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Income Tax |
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