SBI to sell NPAs worth Rs. 5000 crore to asset reconstruction firms
Posted Date : 17-Mar-2014 , 07:57:03 pm | Posted By CASANSAAR
For the first time in its over two centuries of history, State Bank of India (SBI) is going all out to stem the rot by offloading around Rs.5,000 crore of its Rs. 67,799 crore dud assets to asset reconstruction companies (ARCs) before the end of the month.
"There are 14 ARCs function...
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Bank |
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0 | Hits : 1337
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Wishing U & Ur Family HAPPY, Colourful & Wonderful HOLI
Posted Date : 17-Mar-2014 , 08:49:20 am | Posted By CASANSAAR
May God gift you all the colors of life,
colors of joy,
colors of happiness,
colors of friendship,
colors of love ‘n
All other colors you want to Paint in Your life.
Wishing U & Ur Family HAPPY, Colourful & Wonderful HOLI...
...
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Category :
General |
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0 | Hits : 731
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Pre-2005 currency notes can be exchanged at any bank: RBI
Posted Date : 16-Mar-2014 , 09:58:38 pm | Posted By CASANSAAR
You can walk into any bank to get your pre-2005 currency notes - including Rs. 500 and Rs. 1,000 denominations - exchanged till January 1, 2015, following a directive by the Reserve Bank of India (RBI) asking banks to help the public get rid of old currency notes.
There is no li...
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RBI |
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0 | Hits : 1032
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Applicability of notified sections of the Companies Act, 2013 for November 2014, CA Examinations
Posted Date : 16-Mar-2014 , 09:50:06 pm | Posted By CASANSAAR
Important Announcement
Attention: Intermediate (IPC) and Final Course students
Applicability of notified sections of the Companies Act, 2013 forNovember 2014, Examinations
As students may be aware that theCompanies Act, 2013 has been notified in the Official Gazette&nbs...
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Students Zone |
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0 | Hits : 1393
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Blackmoney in polls: Income Tax department starts helpline for Delhi
Posted Date : 15-Mar-2014 , 10:16:58 pm | Posted By CASANSAAR
The Income Tax department has floated a toll-free helpline number for general public to alert it about any suspicious movement of large sums of cash in the national capital during polls. The investigation wing of the department has created a control room and complaint monitoring cell at its off...
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Income Tax |
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0 | Hits : 749
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Share application money cannot be recharacterized as interest-free loans
Posted Date : 15-Mar-2014 , 09:55:44 am | Posted By CASANSAAR
The recent order issued by the Income-Tax Appellate Tribunal (ITAT), Delhi bench, in the case of Bharti Airtel, has dealt with another important issue by holding that payment of share application money to various overseas subsidiaries cannot be partly treated as interest free loans to...
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Income Tax |
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0 | Hits : 1262
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Supreme Court dismisses Nokia appeal over asset transfer to Microsoft
Posted Date : 14-Mar-2014 , 09:18:45 pm | Posted By CASANSAAR
The Supreme Court on Friday dealt Nokia a setback after dismissing the Finnish handset maker’s appeal challenging a Delhi High Court order regarding the transfer of the company’s assets to software giant Microsoft.
Nokia India, which is currently caught in a Rs. 21,000-crore tax...
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Income Tax |
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0 | Hits : 886
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ID card must for carrying cash more than Rs 50,000: IT Dept
Posted Date : 14-Mar-2014 , 07:01:51 pm | Posted By CASANSAAR
Uttar Pradesh Income tax departmentsaid that any person carrying cash more than Rs 50,000 would have to show ID proof along with documents related to the source of the cash, in view of the Model code of Conduct.
“As per the Election Commissionguidelines, ...
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Income Tax |
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0 | Hits : 1484
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Due date of payment of last installment of advance tax extended till March 18, 2014
Posted Date : 14-Mar-2014 , 06:34:38 pm | Posted By CASANSAAR
The final instalment of Advance tax for Financial Year 2013-14 is required to be paid on or before 15th March, 2014 by the tax payers who are liable to pay advance tax. These taxpayers can make payments in the designated branches of the authorized banks, electronically or physically, as per law.
&...
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Income Tax |
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0 | Hits : 2017
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CBDT clarifies key rule related to TDS on overseas payments
Posted Date : 14-Mar-2014 , 08:26:44 am | Posted By CASANSAAR
The Central Board of Direct Taxes has clarified to field officers that the requirement of deducting tax at source when a person makes payments to non-residents or foreign companies should be enforced only on that part of the remitted amount that accounts for the recipient's income chargeable to tax ...
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Income Tax |
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0 | Hits : 1721
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SC asks Nokia to furnish valuation of India assets
Posted Date : 14-Mar-2014 , 08:13:13 am | Posted By CASANSAAR
The Supreme Court on Thursday asked Nokia India to declare the valuation of its assets in India so it could devise a method to resolve the tussle between the company and revenue authorities.
Last week, the court had asked Nokia to bring a proposal to “find a way out”...
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Income Tax |
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0 | Hits : 793
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SBI becomes first Indian bank to have own payments Gateway
Posted Date : 14-Mar-2014 , 08:05:34 am | Posted By CASANSAAR
State Bank of India (SBI) chairperson Arundhati Bhattacharya launched its online electronic payments aggregator service -- 'SBIePay' -- at its corporate centre here today in the presence of its top management.
She said the possibility for other bank customers to use the facility wou...
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Banking |
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0 | Hits : 1313
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ICSI to launch Open Book Examination on Trial Basis from This June
Posted Date : 13-Mar-2014 , 09:57:35 pm | Posted By CASANSAAR
The Institute of Company Secretaries of India (ICSI) is soon to introduce its Open Book Examination (OBE) that will be conducted for 5 elective subjects as follows: Banking, Insurance, Intellectual Property Rights, International Business (all law and practice) and Capital and Commodity and Money mar...
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Students Zone |
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0 | Hits : 1126
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CBI carries out searches at NSEL office, 15 locations
Posted Date : 13-Mar-2014 , 02:45:12 pm | Posted By CASANSAAR
CBI on Thursday carried out searches at 15 locations across the country, including offices of National Sport Exchange Limited in Mumbai, in a case of alleged irregularities in investments by state-run trading company PEC causing a loss of Rs. 120 crore.
The searches were carried out after t...
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Category :
Income Tax |
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0 | Hits : 833
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Unreasonable threatening calls from a Company named WEBTEL to CASANSAAR & the Members of CASANSAAR
Posted Date : 13-Mar-2014 , 09:08:13 am | Posted By CASANSAAR
We & Members of CASANSAAR are receiving calls from a Company named Webtel. They have threatened us as to why we are selling Websites at Rs.2100/- which are very below market Price as Compare to the Price of Webtel which is Rs. 10,000/- to Rs. 12,000/-.
We responded to Webtel that ...
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Category :
ICAI |
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3 | Hits : 2497
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Accounting watchdog ICAI comes under Competition Commission Scanner
Posted Date : 13-Mar-2014 , 08:50:16 am | Posted By CASANSAAR
Finding prima facie evidence of violations, Competition Commission has ordered a detailed probe against accounting watchdog ICAI with regard to alleged discriminatory practices in organising professional education programmes for its members.
It is alleged that the Institute of Chartered Accou...
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Category :
ICAI |
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1 | Hits : 1897
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SEBI tightens norms to check money laundering, terror funding
Posted Date : 13-Mar-2014 , 08:33:39 am | Posted By CASANSAAR
Watchdog SEBI Wednesday tightened norms aimed at countering money laundering and terror financing through the capital markets and asked market entities to conduct detailed risk assessment of their clients, including those linked to countries facing international sanctions.
The market intermediaries...
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Finance |
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0 | Hits : 913
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Maharashtra takes steps to check sales tax evasion
Posted Date : 12-Mar-2014 , 10:21:09 pm | Posted By CASANSAAR
The Maharashtra Government proposes to check wide scale sales tax non compliance among traders dealing in goods either imported to the state or exported out of state to another.
As per the proposal the sales tax department has tied up withborder check posts to ele...
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VAT |
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0 | Hits : 1040
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RBI may put cap on NPAs at 5% of Advances
Posted Date : 12-Mar-2014 , 10:17:52 pm | Posted By CASANSAAR
PSU banks with over 5% bad loans may have to sell their loans to asset restructuring companies (ARCs) in future. The Reserve Bank of India (RBI) and the ministry of finance are considering the option of putting a cap at the maximum amount of bad loans that a bank can have on its books.
The ...
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Category :
Banking |
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0 | Hits : 942
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CBDT provides tax clarity on M&As
Posted Date : 12-Mar-2014 , 08:44:12 am | Posted By CASANSAAR
An internal instruction by the foreign tax division of the Central Board of Direct Taxes ( CBDT) will put an end to litigation relating to the tax to be withheld at source in India by the Indian payer in cross-border transactions, including mergers and amalgamations (M&A...
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Income Tax |
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0 | Hits : 1093
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Airtel gets Rs 5,739 crore relief on taxable income
Posted Date : 12-Mar-2014 , 08:43:14 am | Posted By CASANSAAR
Bharti Airtel has won a major relief from the Delhi bench of the Income tax Appellate Tribunal (ITAT), which ordered deletion of Rs 5,739 crore from the company's taxable income.
The ITAT also held that corporate guarantees given to banks on behalf of group companies are not an international transa...
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Category :
Income Tax |
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0 | Hits : 1063
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CBEC Denies any Holding of Customs, Excise Duty and Service Tax Refunds/Drawbacks
Posted Date : 12-Mar-2014 , 08:35:21 am | Posted By CASANSAAR
The Central Board of Excise and Customs (CBEC) has denied the report that the Customs, Excise Duty and Service Tax refunds/drawbacks are being held-up by the Department. This was mentioned in a certain section of media attributing to a statement by President, Federation of India Export Organisa...
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Category :
Service Tax |
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0 | Hits : 946
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Gulf pays Chartered Accountants Four times more than India
Posted Date : 11-Mar-2014 , 08:25:23 am | Posted By CASANSAAR
Chartered Accountant Prateek Sen who has worked for an Indian firm for two years, is set to shift to Dubai at four times what he has been getting here.
“I would be a fool not to take up the job,” says the 28-year-old, eager to cross the Arabian Sea for what is clearly a tr...
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Category :
ICAI |
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1 | Hits : 3093
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ICAI to help EC make political funding more transparent
Posted Date : 11-Mar-2014 , 08:20:02 am | Posted By CASANSAAR
Accounting regulator ICAI will assist Election Commission in ensuring that "sound accounting principles" are followed in the financial statements of political parties to make election funding more transparent.
The Institute of Chartered Accountants of India had provided as...
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Category :
ICAI |
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0 | Hits : 1089
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Transfer pricing income adjustments decline 14% in 2013-14
Posted Date : 11-Mar-2014 , 08:15:56 am | Posted By CASANSAAR
After a 54% jump in transfer pricing (TP) adjustments to R70,000 crore last year, additions to the income of companies conducting international transactions has dropped by over 14% to R60,000 crore in FY14.
A financial ministry official told FE that data collated after the completion of the...
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Category :
Income Tax |
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0 | Hits : 892
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Ordinance lapse puts spanner in SEBI action against fraudsters
Posted Date : 11-Mar-2014 , 08:09:25 am | Posted By CASANSAAR
The Union Cabinet may consider re-promulgating the SEBI ordinance next week. However, since the model code of conduct for the general elections is in force, this can happen only after the Election Commission’s (EC) approval.
Securities-related offences
Once approved, the ordi...
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SEBI |
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0 | Hits : 801
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NSEL, FTIL Auditors face criminal action
Posted Date : 10-Mar-2014 , 08:33:51 am | Posted By CASANSAAR
Three audit firms — Mukesh Shah & Co, S V Ghatalia & Associates and Deloitte, Haskins & Sells — are facing criminal action for alleged lapses at the now-defunct National Spot Exchange Ltd (NSEL) and its parent Financial Technologies (India) Ltd.
Mukesh Shah &...
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Category :
Auditing |
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0 | Hits : 1439
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70,000 Compnies running without RBI licence?
Posted Date : 10-Mar-2014 , 08:30:47 am | Posted By CASANSAAR
After Sahara and Saradha, more disasters may be waiting to happen in the money market. With over Rs 30,000 crore of public money parked in various Ponzi schemes and non-banking finance companies (NBFCs), the Reserve Bank of India (RBI) is probing existence of companies not regist...
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RBI |
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0 | Hits : 1168
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ICSI to revise Company Secretary course by December
Posted Date : 09-Mar-2014 , 10:33:33 pm | Posted By CASANSAAR
The professional course of Company Secretary (CS) is set for a major revision by December-end to bring it in line with the slew of amendments effected by the central government to the Companies Act, 2013."We are waiting for the government to notify the rules for the amended Companies Act (notified i...
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Category :
Students Zone |
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0 | Hits : 1140
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EC calls meeting of political party Auditors on March 10
Posted Date : 09-Mar-2014 , 10:27:19 pm | Posted By CASANSAAR
The Election Commission has convened a meeting of account auditors of all political parties tomorrow to discuss transparency guidelines norms and filing of financial statements by them after completion of Lok Sabha polls as part of efforts to to curb use of black money.
The EC has roped in the Inst...
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Category :
Auditing |
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0 | Hits : 928
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