Tax Administration Reform Commission (TARC) to look into amalgamation of Direct, Indirect tax dept
Posted Date : 27-Mar-2014 , 07:45:09 am | Posted By CASANSAAR
The Tax Administration Reform Commission (TARC) set up by the Finance Ministry to suggest measures to prevent economic offences among other things, will soon look into amalgamation of Direct Tax and Indirect Tax Departments.
“In business practices, companies pay corporate income tax, ...
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Income Tax |
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Sebi ask companies to follow standard format for Auditor Certificates
Posted Date : 26-Mar-2014 , 08:34:54 am | Posted By CASANSAAR
Market regulator Sebi today asked all listed companies to follow a standard format for their Auditor Certificates, which are required to be filed to seek approval for merger, demerger and restructuring schemes.
The Securities and Exchange Board of India (Sebi) said it has been observ...
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SEBI |
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New accounting standards will bolster foreign fund inflows - ICAI
Posted Date : 26-Mar-2014 , 08:31:11 am | Posted By CASANSAAR
The accountancy body, CA institute has fired another salvo – the third in the last decade – on the IFRS convergence front.
n a well thought out move, the institute has recommended a new roadmap for convergence of Indian accounting standards with the International Financial Repor...
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Accounts |
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Registered foreign portfolio investors can open rupee accounts
Posted Date : 26-Mar-2014 , 08:26:57 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has said registered foreign portfolio investors (RFPI) will be eligible to open special non-resident rupee (SNRR) accounts and foreign currency accounts with banks. For genuine investments in securities, they can also transfer sums from a foreign currency account to a...
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International Business |
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SEBI asks mutual fund houses to make monthly disclosures about assets managed by them
Posted Date : 25-Mar-2014 , 10:12:25 pm | Posted By CASANSAAR
The Securities and Exchange Board of India - SEBI has asked mutual fund houses to make monthly disclosures about assets managed by them.
This will be applicable as part of the long term policy for the mutual fund industry, that was unveiled by SEBI on Monday.
Through this policy, SEBI ...
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SEBI |
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ICAI suggests revised IFRS road map, to start from April 2016
Posted Date : 25-Mar-2014 , 08:19:04 am | Posted By CASANSAAR
Revising its earlier road map, ICAI has recommended that companies, having net worth of over Rs 500 crore, implement new accounting standards that converge with global norms from April 1, 2016.
The Institute of Chartered Accountants of India (ICAI), the country's apex accounting wat...
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ICAI |
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Will simplify e-filing norms: CBDT
Posted Date : 25-Mar-2014 , 08:17:50 am | Posted By CASANSAAR
E-filing of Income Tax returns will be further simplified by the Central Board of Direct Taxes (CBDT) which said it is encouraged by the increasing number of taxpayers taking the online route. The e-filing of returns this financial year saw a jump of 40 per cent with 25,647 crore online returns...
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Income Tax |
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EPFO to provide permanent A/c number from October this year
Posted Date : 24-Mar-2014 , 07:13:15 pm | Posted By CASANSAAR
Retirement fund body EPFO will start providing permanent account numbers on the pattern of core banking services to its over five crore subscribers from October this year.
Permanent or universal account number (UAN) will facilitate subscribers to avoid filing PF account ...
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General |
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SC says Aadhaar should not be made mandatory
Posted Date : 24-Mar-2014 , 07:10:10 pm | Posted By CASANSAAR
The Supreme Court today directed the Centre not to shareAadhaar card details with any agency without the consent of the card holder.
It also asked the government to immediately withdraw all the orders which had made Aadhaar card compulsory for registration of marriage or property or ...
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General |
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0 | Hits : 955
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ICSI Council / Regional Councils Election
Posted Date : 24-Mar-2014 , 08:34:58 am | Posted By CASANSAAR
Kind Attention Members
COUNCIL / REGIONAL COUNCILS ELECTIONS-2014
As the members are aware, the term of the existing Council and the Regional Councils will expire on 18th January 2015 and the elections for the Council and the Regional Council...
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ICSI |
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0 | Hits : 893
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New Companies Act drives demand for forensic audits
Posted Date : 24-Mar-2014 , 08:28:47 am | Posted By CASANSAAR
Forensic audit is emerging as a big-ticket business for accounting firms.Two developments are responsible. One, some high-profile frauds in the limelight over recent months. Two, changes in the approach of regulators, allied to provisions in the new Companies Act, which put more accountability ...
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Auditing |
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0 | Hits : 1345
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Give customers a free copy of credit profile: RBI
Posted Date : 24-Mar-2014 , 08:22:01 am | Posted By CASANSAAR
Customers should be given a free copy of their credit profile as it would help in promoting financial discipline among loan seekers, the Reserve Bank of India (RBI) has said in a report.
"The Committee has suggested that providing customers with a free copy of their Credit Information Reports (CIRs...
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RBI |
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Over 50,000 cr revenue still to come; CBDT cancels all leave
Posted Date : 23-Mar-2014 , 07:27:05 pm | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has cancelled leave of all officials on tax collection duty and ordered 24X7 functioning of its offices till March 31 in order to collect the remaining revenue of over Rs 50,000 crore before the end of the current financial year.
The direct taxes tar...
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Income Tax |
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0 | Hits : 992
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EXPERT PANEL for Addressing Bank Branch Audit Queries FY 2013-14 - ICAI
Posted Date : 23-Mar-2014 , 07:06:25 pm | Posted By CASANSAAR
The bank audit season is around the corner. Given the fact that the banking industry istypical in terms of its geographical and customer spread, the volume and varied natureof products and services offered, coupled with the strict constraints for completing theaudits, the members, many a times, face...
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ICAI |
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E-filing of I-T returns: Taxpayers to get Digital Signatures
Posted Date : 23-Mar-2014 , 10:58:55 am | Posted By CASANSAAR
In order to weed out the hassle of sending by post a hard copy of e-filed return, the Income-Tax Department has decided to bring in the facility of electronic signatures for taxpayers to endorse their bonafides.
The Central Board of Direct Taxes (CBDT), the apex office to formulate policies...
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Category :
Income Tax |
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0 | Hits : 2367
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New Initiative by CASANSAAR, Free Web-Designing for Chartered Accountants
Posted Date : 22-Mar-2014 , 09:44:18 am | Posted By CASANSAAR
CASANSAAR are providing you free Designs for your Professional Website. It’s totally Free of Cost. Out of our 100 Designs you can select any Design for your Professional Website & can create your own Personal Professional Website as per your own choice. After Selecting the Website Des...
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ICAI |
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Unclaimed bank money to be used for depositors education: RBI
Posted Date : 22-Mar-2014 , 09:33:11 am | Posted By CASANSAAR
Unclaimed bank deposits, which are estimated at Rs. 3,500 crore, will be utilised for education and awareness of depositors, the Reserve Bank of India (RBI) said on Friday.
The 'Depositor Education and Awareness Fund Scheme, 2014' has been finalised and forwarded to the government for not...
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RBI |
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Tulip Telecom
Posted Date : 22-Mar-2014 , 09:32:12 am | Posted By CASANSAAR
The Chairman-cum-Managing Director (CMD) of a telecom firm here has been arrested for allegedly evading service tax of about Rs 32 crore.
A case has been registered against Tulip Telecom Ltd for non-payment of service tax, official sources said.
Investigations by Delhi Service Tax ...
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Service Tax |
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0 | Hits : 1130
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Income Tax department website to get a face-lift, invites suggestions
Posted Date : 21-Mar-2014 , 08:22:07 pm | Posted By CASANSAAR
The Income Tax department is set to overhaul its official website for better taxpayer interface and has invited suggestions from public in order to make the portal more user friendly.
"The national website of the Income Tax department is undergoing redevelopment. In this regard, the departmen...
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Category :
Income Tax |
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Nandan Nilekani and Wife have assets worth Rs. 7,700 crore
Posted Date : 21-Mar-2014 , 08:42:30 am | Posted By CASANSAAR
A day before filing his nomination for the Bangalore South Lok Sabha constituency, the Congress candidate and the former Chairman of the Unique Identification Authority of India (UIDAI), Nandan Nilekani, declared on Thursday that he and his wife Rohini have assets worth Rs. 7,700 crore.
&ld...
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General |
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EC allows Corp Affairs Min to notify new rules
Posted Date : 21-Mar-2014 , 08:25:11 am | Posted By CASANSAAR
The Corporate Affairs Ministry Thursday received Election Commission's approval for notifying rules related to various sections of the new Companies Act, paving the way for its implementation from April 1.
The legislation, which provides for significant changes in the way corporates are governed an...
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Corporate Law |
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0 | Hits : 950
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Sebi notifies norms to make KYC easier for investors
Posted Date : 21-Mar-2014 , 08:22:49 am | Posted By CASANSAAR
Making know-your-client process easier for investors, Sebi has notified a net set of norms that allow various market entities such as brokers and MFs to get details from centralised KYC agencies, rather than carrying out a fresh KYC verification procedure.
An option available to a...
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SEBI |
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EOW finds faults with NSEL Auditors
Posted Date : 20-Mar-2014 , 07:58:52 am | Posted By CASANSAAR
Mumbai police has now found that even auditors of the NSELhas violated several norms and some of them are punishable under the Indian Penal Code. Police has found some discrepancies since inception of the exchange in 2007 which suspended trading last July and later faced default of Rs...
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Category :
Income Tax |
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Banks to remain open on March 29-31 for tax collection
Posted Date : 20-Mar-2014 , 07:57:37 am | Posted By CASANSAAR
Bank branches will remain open for full day on March 29, 30 and 31 to facilitate tax collection. While March 29 is a Saturday, March 30 is Sunday and March 31 is the last day of financial year and is a public holiday in some parts of the country.
“The Chairperson, Central Board of Excise and ...
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Category :
Banking |
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0 | Hits : 1089
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New secretarial audit rules likely from April 1
Posted Date : 20-Mar-2014 , 07:54:45 am | Posted By CASANSAAR
The Institute of Company Secretaries of India has recommended that the norms for proposed secretarial audit should be on par with that of internal financial audit. The Government needs to approve the recommendation as a rule under the new company law.
R Sridharan, President of ICSI, said he...
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Category :
Auditing |
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0 | Hits : 1271
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Reserve Bank of India allows more banks to import gold
Posted Date : 19-Mar-2014 , 10:22:22 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) has allowed more banks, including Axis Bank and Kotak Mahindra Bank, to import gold under the 80:20 scheme, a move seen as a precursor to easing restrictions on inward shipments of the metal.
The government and the RBI had imposed tough measures to control gold impor...
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Category :
Banking |
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0 | Hits : 799
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RBI puts fraud detection expert on United Bank of India board
Posted Date : 19-Mar-2014 , 08:22:27 am | Posted By CASANSAAR
Reserve Bank of India on Tuesday inducted its official, Pravathy Sundaram, to the board of United Bank of India (UBoI).
As per the Banking Companies (Acquisition & Transfer of Undertakings) Act 1970, the finance ministry nominated the official who holds a rank of chief general manager a...
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Banking |
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0 | Hits : 1068
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Sebi may tighten public shareholding norms for bourses
Posted Date : 19-Mar-2014 , 08:20:37 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) will soon decide whether public financial institutions such as banks and insurance companies which are also trading members on stock exchanges can continue to be classified as ‘public’ shareholders in bourses.
Accordi...
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SEBI |
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Correction Window for May-2014 Online CA Exam Forms - ICAI
Posted Date : 18-Mar-2014 , 09:22:27 pm | Posted By CASANSAAR
It is seen that candidates while filling the exam forms ( either online or physical) do notexercise reasonable care and commit errors. This creates lots of difficulties for them aswell as the office at Admit Card stage and thereafter.
With a view to provide them an additional opportunity to...
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Students Zone |
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0 | Hits : 1505
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Java Based ITR Utilities enabled at Income Tax efiling Website
Posted Date : 18-Mar-2014 , 09:06:58 pm | Posted By CASANSAAR
These ITR utilities are developed using the latest JAVA technology and effort has been made to make it user friendly, simpler and faster preparation/submission of tax returns. It is recommended to stay connected to internet to experience the refreshingly new utility. Please check for ...
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Category :
Income Tax |
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0 | Hits : 1067
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