Government gives more time for companies to set up Audit Committee
Posted Date : 13-Jun-2014 , 08:10:01 am | Posted By CASANSAAR
Making another relaxation, the government has provided more time till March 2015 for corporates to set up audit, nomination and remuneration committees as mandated under the new companies law.The Corporate Affairs Ministry has given additional time for compliance following suggestions from various s...
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Auditing |
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RBI to come out with payment bank soon
Posted Date : 13-Jun-2014 , 08:05:00 am | Posted By CASANSAAR
The Reserve Bank of India, on Thursday, said it would soon come out with a payment bank, as recommended by the Nachiket Mor committee.
“We are also coming up shortly with what could be payment bank because there is huge potential for financial inclusion with focus on remittances...
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RBI |
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Govt okays salary cap hike for EPF; threshold for savings raised from Rs 6,500 a month to Rs 15,000
Posted Date : 12-Jun-2014 , 06:56:17 pm | Posted By CASANSAAR
Employees earning upto Rs 15,000 a month will soon come under the Employees' Provident Fund (EPF) net, with the Narendra Modi government approving a hike in the threshold for mandatory PF savings from Rs 6,500 a month to Rs 15,000.Though the Manmohan Singh government had approved the hike in the EPF...
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Income Tax |
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CBDT notifies Cost Inflation Index for FY 2014-2015. Cost Inflation Index From 1981-82 to 2014-15
Posted Date : 12-Jun-2014 , 02:28:44 pm | Posted By CASANSAAR
CBDT notifies Cost Inflation Index (CII) for FY 2014-2015 is 1024.
Financial Year
Cost Inflation Index
1981-82
100
1982-83
109
1983-84
116
1984-85
125
1985-86
133
1986-87
140
1987-88
150
1988-8...
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Income Tax |
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Government amends rules for Company Secretaries
Posted Date : 12-Jun-2014 , 08:07:57 am | Posted By CASANSAAR
The government on Monday amended the rules for company secretaries, giving a lifeline to the profession that faced a heavy blow from the new companies law. A notification issued on June 9 also included an additional rule, saying all companies with paid-up capital above Rs 5 crore need to employ...
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ICSI |
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ICAI CPT June 2014 Admit Cards available for Download
Posted Date : 11-Jun-2014 , 09:20:49 pm | Posted By CASANSAAR
Institute of Chartered Accountants of India has released the Admit Cards for the Common Proficiency Test (CPT) to be held on June 22, 2014. Candidates can download and print their Admit Cards for the June 2014 exam by entering CPT Registration Number or Bar Code as printed on the examinati...
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Students Zone |
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Invitation for developing Study Materials for different modules of Master in Business Finance Certificate Course - ICAI
Posted Date : 11-Jun-2014 , 02:47:48 pm | Posted By CASANSAAR
The Committee on Management Accounting (CMA) of ICAI is conducting One Year Certificate Course on Master in Business Finance. CMA invites expression of interest from the authors, faculty of finance and professionals to contribute in developing Study Materials for different modules. List of d...
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ICAI |
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0 | Hits : 921
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SBI to merge five subsidiary banks with itself
Posted Date : 11-Jun-2014 , 07:47:23 am | Posted By CASANSAAR
State Bank of India, the nation's biggest lender, will kick off consolidation in the banking industry by combining five associate banks as it prepares to fund the economy that is on the cusp of a strong growth like China two decades ago. The combination of the associates will enhance the asset ...
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Banking |
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0 | Hits : 1904
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MCA clears air on tenure of independent directors
Posted Date : 11-Jun-2014 , 07:42:02 am | Posted By CASANSAAR
The government has clarified that the tenure of all independent directors who were appointed before April 1, 2014, will not be counted towards the mandatory ten-year period or two consecutive term limit under the new company law, provided firms make fresh appointment before March 31, 2015.
...
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Corporate Law |
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0 | Hits : 1273
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FinMin wants consensus on rolling out of GST soon
Posted Date : 10-Jun-2014 , 07:40:45 pm | Posted By CASANSAAR
The Finance Minister Arun Jaitley has said that the Centre and States need to work together to roll out Goods and Services Tax, GST.
He said, the mandate of 2014 clearly spells out that economic growth cannot be compromised at any cost and there is a need to round off corners towards GST impl...
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GST |
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RBI tells banks to keep 60% liquidity coverage ratio from January 2015
Posted Date : 10-Jun-2014 , 08:29:55 am | Posted By CASANSAAR
In a move aimed at creating liquidity buffers in banks, the Reserve Bank of India (RBI) has mandated the lenders to maintain 60 per cent liquidity coverage ratio (LCR) from January 1, 2015. Also, the central bank suggested a phased manner in which the ratio will have to increase to 10...
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RBI |
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Over 200 companies face heat for violating disclosure norms
Posted Date : 10-Jun-2014 , 08:22:32 am | Posted By CASANSAAR
Over 200 listed companies have been penalised by the stock exchanges for violating various listing agreement norms, involving late or non-submission of mandatory details like financial results and shareholding data and non-compliance to corporate governance regulations.While National Stock Exchange ...
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Corporate Law |
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0 | Hits : 1172
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Now, submit single proof of address to open bank account
Posted Date : 09-Jun-2014 , 09:34:53 pm | Posted By CASANSAAR
Migrant workers and transferred employees need to submit only one documentary proof of address (either current or permanent) while opening a bank account, according to the Reserve Bank of India.
In a notification, RBI said, “Henceforth, customers may submit only one documentary proof ...
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Banking |
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Vodafone Facing Total Tax Liability of Rs. 27,000 Crore in India
Posted Date : 09-Jun-2014 , 03:41:37 pm | Posted By CASANSAAR
UK-based telecom major Vodafone is facing tax claims and interest totalling more than Rs. 27,000 crores in India, which includes Rs. 14,200 crores for acquiring Hutchison's stake in 2007, the company said in its annual report.
Vodafone said that its Indian subsidiary had received a let...
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Category :
Income Tax |
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0 | Hits : 1094
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Pre-budget meeting with banks, financial institutions on June 10
Posted Date : 08-Jun-2014 , 09:23:22 pm | Posted By CASANSAAR
Amidst concerns over rising bad loans, Finance Minister Arun Jaitley will hold pre-budget consultations with heads of banks and financial institutions on June 10 to deal with the situation.
Meeting with CMDs and CEOs of banking and financial institutions is scheduled for Tuesday, a day after the Fi...
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Category :
Budget |
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Income Tax dept issues notice to Chief Election Commissioner VS Sampath
Posted Date : 08-Jun-2014 , 09:02:47 am | Posted By CASANSAAR
The Income Tax department has issued a notice to Chief Election Commissioner (CEC) V S Sampath in connection with the sale of a property in Hyderabad and acquiring a new residential property in Delhi with that money.
The notice, issued by the intelligence wing of the department, has detecte...
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Category :
Income Tax |
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0 | Hits : 1345
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30 lakh Cost Accountants needed in next two years, says ICAI chief
Posted Date : 07-Jun-2014 , 09:00:10 am | Posted By CASANSAAR
In the next two years, India may require 30 lakh cost accountants to meet the fast-tracking growth of companies, according to P. Raju Iyer, chairman of the Southern India Regional Council of the Institute of Cost Accountants of India.
He made the observation after signing a Memorandum of Un...
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ICAI |
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1 | Hits : 2378
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SEBI busts SMS, WhatsApp-based investment scam
Posted Date : 06-Jun-2014 , 09:01:21 am | Posted By CASANSAAR
Capital markets regulator Sebi on Thursday cracked whip on a scam wherein 'trading tips' were being offered through mobile SMSs and WhatsApp messages by unregistered investment advisors while promising guaranteed returns of as much as 200%.
In an interim order passed on Thursday, Sebi...
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SEBI |
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0 | Hits : 1645
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Highlights of the Additional Maharashtra Budget
Posted Date : 05-Jun-2014 , 06:26:38 pm | Posted By CASANSAAR
* Minimum salary limit for Profession Tax increased to Rs 7,500 from Rs 5,000.
* Turn over limit for registration under VAT increased to Rs 10 lakh from Rs 5 lakh
* Tax rate on cotton reduced to 2% from 5%
* Sugarcane purchase tax exempted for 2013-14
* Sales/Lease ...
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Category :
Budget |
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Maharashtra presents Rs 4,103-cr revenue deficit for 2014-15
Posted Date : 05-Jun-2014 , 06:15:09 pm | Posted By CASANSAAR
The assembly poll bound Congress-NCP government in Maharashtra on Thursday presented an additional budget for 2014-15 projecting a revenue deficit of Rs 4,103 crore against Rs 3,017 crore in 2013-14.
The proposed revenue deficit is 0.2% of the gross state domestic product (GSDP). The fisc...
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Budget |
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Unclear Companies Act would make things worse: CII
Posted Date : 05-Jun-2014 , 01:14:20 pm | Posted By CASANSAAR
Seeking a comprehensive review of the new Companies Act, industry body CII today said that an "unclear and cumbersome" law would make things worse for the corporates.
"The government needs to trust industry. One or two incidence of corporate malfeasance should not lead to mistrust of the entire spe...
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Category :
Corporate Law |
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0 | Hits : 1408
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IICA signs MoU with Grant Thornton
Posted Date : 05-Jun-2014 , 07:03:24 am | Posted By CASANSAAR
The Indian Institute of Corporate Affairs and Grant Thornton India LLP have signed a memorandum of understanding. The objective of the MoU which was signed yesterday in Delhi is to develop capacity of the Indian companies for effective implementation of the CSR Rules laid down as per Section 13...
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Category :
Corporate Law |
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0 | Hits : 1441
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Pre-Budget Parleys Begin Today
Posted Date : 05-Jun-2014 , 06:50:09 am | Posted By CASANSAAR
Finance Minister Arun Jaitley, who is expected to present his maiden Budget in the first week of July, is all set to begin pre-budget consultations with various stakeholders beginning Thursday.
To begin with, Jaitley will hold consultations with the farm sector, which is facing uncertaintie...
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Finance |
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Milestone 200
Posted Date : 04-Jun-2014 , 08:49:41 am | Posted By CASANSAAR
CASANSAAR thrilled to announce the launch of 200th Professional Website.
Many thanks to all users for their faith in CASANSAAR. Heartiest thanks to the lucky CA.Suresh Sethi for getting developed 200th website (www.casureshsethi.com) by CASANSAAR.
CASANSAAR is...
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Category :
General |
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0 | Hits : 847
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Sebi bans direct agreement between lender and borrowers of securities
Posted Date : 04-Jun-2014 , 08:07:17 am | Posted By CASANSAAR
Capital market regulator, Sebi, has prohibited lenders and borrowers from entering into a direct agreement under theSecurities Borrowing and Lending framework.
Instead, the agreement will now be between the Authored Intermediary and the Clearning Members.
“The Author...
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SEBI |
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0 | Hits : 962
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No Change in the date of examination scheduled for 3rd & 4th June, 2014 - ICAI
Posted Date : 03-Jun-2014 , 03:29:02 pm | Posted By CASANSAAR
ANNOUNCEMENT
No Change in the date of examination scheduled for 3rd & 4th June, 2014
Certain enquiries are being received as regard to the holding of examinationon 3rd & 4th June, 2014.
In this connection, attention of the candidates of CA Examinations May, 2014and other s...
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Students Zone |
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0 | Hits : 1059
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Indians can now remit up to $1.25 lakh overseas
Posted Date : 03-Jun-2014 , 03:25:41 pm | Posted By CASANSAAR
A strong rupee has emboldened Reserve Bank of India to relax some of the foreign exchange related restrictions including the individual overseas remittance limit of $75000 per year which has been hiked to $125000.
The central bank has also allowed foreign institutional investors to hedge upto 110% ...
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RBI |
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RBI keeps repo rate unchanged at 8%; SLR cut by 50 bps
Posted Date : 03-Jun-2014 , 11:35:52 am | Posted By CASANSAAR
In line with market expectations, the Reserve Bank of India on Tuesday kept key rates unchanged. While the repo rate was maintained at 8% and reverse repo rate at 7%, the SLR was cut by 50 basis points. Rajan kept the policy rate unchanged at 8 per cent at th...
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RBI |
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EY to audit BJP's ad campaign expenses; party to submit report to EC
Posted Date : 03-Jun-2014 , 08:26:29 am | Posted By CASANSAAR
Bharatiya Janata Party (BJP) has appointed Ernst & Young (EY) to audit spending by advertising, media planning and buying and other communication agencies that crafted and rolled out its advertising and marketing campaign for the 2014 Lok Sabha elections. Further, EY has also been tasked to...
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Category :
Auditing |
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1 | Hits : 1448
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Private companies should be brought under secretarial Audit
Posted Date : 02-Jun-2014 , 09:55:43 pm | Posted By CASANSAAR
The Institute of Company Secretaries of India has already represented to the Ministry of Corporate Affairs to bring private limited companies under the ambit of secretarial audit under the new Companies Act, its president R Sridharan said here today. Speaking to reporters here, he said the priv...
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Category :
Income Tax |
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