NSE releases new guidelines for futures and options
Posted Date : 12-Apr-2014 , 11:34:13 am | Posted By CASANSAAR
The National Stock Exchange on Friday came out with new guidelines for the futures and options segment as part of strengthening risk management measures to ensure orderly trading on the bourse.
The new framework would come into effect from May 5 and would initially be applicable "...
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Shares & Stock |
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New rule for Company Secretaries: Ministry trying to find a way out
Posted Date : 11-Apr-2014 , 05:22:47 pm | Posted By CASANSAAR
The Corporate Affairs Ministry is hoping to find a solution to the structural problem that company secretaries are facing, after the notification of rules under the new company law.
The rules had completely exempted a private limited company (irrespective of its paid-up capital) from the re...
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Corporate Law |
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RBI extends overseas borrowing interest rate norms till June
Posted Date : 11-Apr-2014 , 08:48:27 am | Posted By CASANSAAR
The Reserve Bank today said existing guidelines on interest rates for overseas borrowings will continue for another three months. "On a review, it has been decided that the all-in-cost ceiling...will continue to be applicable till June 30, 2014, and is subject to review thereafter. All other as...
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RBI |
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IT department directs DCHL to re-audit accounts
Posted Date : 11-Apr-2014 , 08:47:01 am | Posted By CASANSAAR
The income tax department has directed the management of the Deccan Chronicle Holdings Ltd (DCHL) to get the accounts of the company audited by an authorized auditor after receiving information about procedural irregularities in the company.
Since the cloud of doubts is centered...
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Income Tax |
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0 | Hits : 963
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SEBI clamping down on illegal money pooling schemes
Posted Date : 10-Apr-2014 , 07:19:41 pm | Posted By CASANSAAR
Capital markets watchdog Sebi is in process of cracking its whip soon on various illicit money-pooling schemes in West Bengal, which has already seen regulatory actions against some entities linked to Saradha and Rose Valley groups.
According to sources, those currently under scanne...
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SEBI |
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RBI panel submits report on pricing of credit by banks
Posted Date : 10-Apr-2014 , 07:11:37 pm | Posted By CASANSAAR
A panel set up by the Reserve Bank of India (RBI) has recommended that banks' base lending rate should be based on the marginal cost of funds if their average deposit tenure is on the lower side.
The panel, which was headed by RBI Deputy Governor Anand Sinha, had been set up to bring in tra...
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RBI |
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After NPA firefight, United Bank to approach RBI for lifting of loan cap
Posted Date : 10-Apr-2014 , 08:38:35 am | Posted By CASANSAAR
United Bank of India — which brought down its gross non-performing assets (NPAs) by over R2,000 crore in the January-March quarter last fiscal — will soon approach the RBI for the removal of a R10-crore single-borrower threshold for advancing fresh loans.
Pointing out its succes...
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Banking |
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0 | Hits : 1031
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Proposed New Roadmap for Implementation of Ind AS converged with IFRS - ICAI
Posted Date : 10-Apr-2014 , 08:14:05 am | Posted By CASANSAAR
For convergence of Indian Accounting Standards with International Financial Reporting Standards (IFRSs), a Press Release (No.2/2010) laying down roadmap for application of converged Indian Accounting Standards (Ind AS) by companies (other than Banking companies, Insuran...
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Income Tax |
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0 | Hits : 1061
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A Golden Opportunity for Professionals (CA, CS, CMA) by CASANSAAR
Posted Date : 10-Apr-2014 , 07:59:03 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 paying just ...
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ICAI |
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Frequently Asked Questions (FAQ) on Web Designing by CASANSAAR
Posted Date : 09-Apr-2014 , 12:30:56 pm | Posted By CASANSAAR
We are getting Lots of Call for CASANSAAR New Initiative - Web site for Professsionals.
On the Basis of Such Calls We have Prepared some Frequently Asked Questions. (FaQ).
Q. How Much Charges for a Website?
Just Rs. 2100/- PA. (It Includes Domain Charges, Hosting Charges, Designing ...
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General |
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0 | Hits : 1508
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Deloitte, BSR & Co can
Posted Date : 09-Apr-2014 , 08:32:48 am | Posted By CASANSAAR
Top-notch audit firms Deloitte and BSR and Co, a preferred partner of KPMG, will be barred from auditing the books of India's largest commodity bourse, MCX, whose dealings with group entities have come under regulatory glare. Commodity market regulator Forward Markets Commission (FMC) has direc...
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Category :
Auditing |
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0 | Hits : 1468
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RBI steps in to end 'unfair' scrutiny of PSU Bankers
Posted Date : 09-Apr-2014 , 08:30:14 am | Posted By CASANSAAR
The constant fear of being haunted by the Central Vigilance Commission (CVC) for taking an incorrect decision may be a thing of the past for the government-owned banks if the Reserve Bank of India (RBI) has its way. The CVC, an authority set up to weed out corruption among government-owned unit...
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RBI |
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0 | Hits : 1048
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MNCs line up for transfer pricing pacts with tax authorities
Posted Date : 09-Apr-2014 , 08:27:45 am | Posted By CASANSAAR
The tax department received 232 applications from MNCs in 2013-14, up 60 per cent year-on- year, to obtain advance ruling over pricing arrangement for transactions within group firms and the ensuing tax liability. In 2012-13, 146 companies had applied for Advance Pricing Agreement, a mechanism ...
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Category :
International Business |
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Clarification on Applicability of the Companies Act, 2013 to Auditor's Report to FY 2014-15 and Onwards - ICAI
Posted Date : 08-Apr-2014 , 09:19:15 pm | Posted By CASANSAAR
CLARIFICATION Applicability of the Companies Act, 2013 to Auditor’s Report to FY 2014-15 and Onwards
The Ministry of Corporate Affairs, on 26th March 2014 notified a majority of the remaining sections of the Companies Act, 2013, including sections 139 to 148, relating t...
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Category :
ICAI |
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0 | Hits : 1461
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Petrol pumps to offer 50 p/litre discount to voters on Apr 10
Posted Date : 08-Apr-2014 , 09:13:40 pm | Posted By CASANSAAR
As many as 67 petrol pumps across Delhi, Noida, Gurgaon and Rohtak will offer 50-paise per litre discount on petrol to consumers who exercise their voting rights on April 10.
"A 50 paise per litre discount will be offered to anybody coming to these petrol pumps with voting mark on T...
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General |
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Special council meeting convened to discuss Audit cap, Tax Audit Blues - ICAI
Posted Date : 08-Apr-2014 , 08:24:27 am | Posted By CASANSAAR
The auditing fraternity is clearly facing the regulatory heat going by the recent rules notified under the new company law.
Besides mandatory auditor rotation and requirement on reporting of frauds to the central government, the chartered accountants’ fraternity has to grapple with a ...
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ICAI |
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0 | Hits : 1530
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SEBI rolls back some restrictions on currency derivatives
Posted Date : 08-Apr-2014 , 08:22:07 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) on Monday partially reversed curbs on dollar-rupee forward contracts that were imposed last year after the rupee hit record lows.
Sebi had doubled the margin requirement on the domestic dollar-rupee forward trades last year in a bid to arres...
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SEBI |
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0 | Hits : 897
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Reserve Bank of India firm on scrapping pre-payment penalty
Posted Date : 08-Apr-2014 , 08:21:02 am | Posted By CASANSAAR
The Reserve Bank is likely to order banks to scrap penalty on pre-payment of all retail and small corporate loans and do away with fines for failure to maintain minimum balance if the recent 'nudge' does not work, said a person familiar with the plan. RBI officials believe there is no justifica...
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RBI |
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0 | Hits : 959
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Livent Auditor Deloitte ordered to pay $84.8-million for failing detect Fraud
Posted Date : 07-Apr-2014 , 10:34:58 pm | Posted By CASANSAAR
The former auditor of Garth Drabinsky’s Livent has been ordered to pay $85 million in damages to creditors of the defunct Toronto theatre company.
An Ontario Superior Court judge ruled Friday that Deloitte & Touche was negligent in its audit of Livent’s 1997 financ...
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Auditing |
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FinMin detects unauthorised access of e-filers' online tax returns
Posted Date : 07-Apr-2014 , 10:30:02 pm | Posted By CASANSAAR
E-filers of income tax beware! Income tax online return accounts of certain people have been unauthorisedly accessed, the Finance Ministry has warned.
Replying to an RTI query, the Ministry said a process of “multifunctional authentication” has been designed and will be in place...
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Category :
Income Tax |
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0 | Hits : 1034
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Govt rejects proposal to club allowances with basic salary
Posted Date : 06-Apr-2014 , 09:05:22 am | Posted By CASANSAAR
The labour ministry has asked retirement fund body EPFO not to go ahead with a proposal to club allowances with basic pay for provident fund deductions.
“EPFO has got a letter from the Labour Ministry asking it not to go ahead with clubbing of allowances with basic pay. The Employees&...
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Category :
Income Tax |
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0 | Hits : 898
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ICAI to prepare road map for economic reforms, taxation
Posted Date : 05-Apr-2014 , 08:41:44 am | Posted By CASANSAAR
For the first time, the CA Institute plans to frame a model roadmap for Indian economy and submit it to the new Central Government on its first day in office.
Towards this end, the CA Institute will host a national summit on "Indian economy and way forward" in the capital on Saturday, Anuj ...
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ICAI |
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0 | Hits : 1184
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Billing system: TRAI notifies panel of Auditors
Posted Date : 05-Apr-2014 , 08:39:13 am | Posted By CASANSAAR
Telecom regulator TRAI on Friday notified 17 firms in the panel of auditors which will examine metering and billing system of service providers.
The validity of the panel will be up to July 31, 2017, though TRAI may extend the validity at its discretion.
The operators are required ...
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Category :
Auditing |
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0 | Hits : 1523
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Protest against new rule for appointing company secretaries
Posted Date : 05-Apr-2014 , 08:38:10 am | Posted By CASANSAAR
Company secretaries seem to be facing regulatory heat as the rules notified under the new company law could put thousands of such professionals out of work.
The new rules mandate the appointment of a company secretary only for listed companies and every other public company with a paid-up c...
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ICSI |
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0 | Hits : 1694
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Don
Posted Date : 05-Apr-2014 , 08:36:35 am | Posted By CASANSAAR
Corporations and banks should not find artificial fixes for non-performing assets, and it was important for them to clean up their balance sheets and focus on putting the asset back on stream, RBI Governor Raghuram Rajan has said.
“At the Reserve Bank, we keep hearing corporations com...
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RBI |
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0 | Hits : 902
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SEBI reorganises panel on disclosures, Accounting Standards
Posted Date : 04-Apr-2014 , 07:45:28 am | Posted By CASANSAAR
Market regulator Securities and Exchange Board of India (Sebi) has revamped its committee on disclosures and accounting standards that advises it on matters related to disclosure requirements and accounting practices for various market participants.
The 17-member expert panel is been chaired ...
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Category :
Accounts |
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0 | Hits : 1378
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Govt appoints R Gandhi as RBI Deputy Governor
Posted Date : 04-Apr-2014 , 07:43:10 am | Posted By CASANSAAR
The government has appointed R Gandhi as deputy governor of the Reserve Bank of India (RBI). Gandhi, 58, who has been handed over a three-year term, succeeds Anand Sinha who retired in January.
Prior to this, Gandhi was an executive director of the central bank.
A dep...
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RBI |
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Confusion on Auditing Despite Amendment to Kerala Cooperative Societies Rules
Posted Date : 04-Apr-2014 , 07:39:44 am | Posted By CASANSAAR
Despite notification of the draft of amendment to Kerala Cooperative Societies Rules (1969) on February 14, there is still room for problems in the auditing of the societies.
As three panels were proposed earlier for conducting the audit, the proposal to include retired auditors also has le...
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Category :
Auditing |
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0 | Hits : 1056
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Direct Tax Code 2013 allows Tax Audit by Company Secretaries and Cost Accountants also
Posted Date : 03-Apr-2014 , 07:58:44 am | Posted By CASANSAAR
Tax Audit under the Income Tax Act is currently allowed to be conducted only by the Chartered Accountant but Proposed Direct Tax Code 2013 allowsTax Audit not only by Chartered Accountants but also by Company Secretaries and Cost Accountants.
Clause ...
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Category :
Income Tax |
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0 | Hits : 4200
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Profits can't be taxed in the hands of partners
Posted Date : 03-Apr-2014 , 07:29:19 am | Posted By CASANSAAR
In what could bring a major relief to partnership companies, the Income-Tax department is set to clarify that the income of a firm that has been exempted from tax cannot be taxed for its profit in the hands of its partners.
Earlier, even if the income chargeable to tax for a firm was nil due to cer...
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Category :
Income Tax |
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