ICAI may look at adopting IFRS in long term
Posted Date : 09-Mar-2014 , 10:23:12 pm | Posted By CASANSAAR
India could look at adopting international accounting standards IFRS in the long term based on how the converged norms work out, according to ICAI.
Rather than adopt the International Financial Reporting Standards (IFRS), India at present is only looking to converge with this set of ...
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Income Tax |
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Bribery case: Chartered Accountant sent to Police Custody
Posted Date : 08-Mar-2014 , 08:44:33 am | Posted By CASANSAAR
A Chartered Accountant Rajiv Jain , who along with four others arrested for allegedly trying to get favourable order from the Board for Industrial and Financial Reconstruction (BIFR), was sent to a day's police custody by a Delhicourt.
The court, however, sent accused Arun H Jain, Managi...
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ICAI |
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0 | Hits : 3163
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New bank licences in few weeks after EC's nod: RBI
Posted Date : 07-Mar-2014 , 09:48:33 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) is expected to issue a few new banking licences in the next few weeks after getting a go ahead from the Election Commission (EC) as the code of conduct for polls is in place.
"My sense is, if all goes well we should be able to do it in a few weeks...
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Banking |
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Reebok fraud: SFIO charges Adidas head office
Posted Date : 07-Mar-2014 , 08:35:29 am | Posted By CASANSAAR
The Serious Fraud Investigation Office (SFIO)'s complaint regarding the Reebok India fraud, filed to a Gurgaon court last week, has indicted the parent company, Germany-basedAdidas Group, on lapses in corporate governance practices and internal controls at its Indian subsidiary.
The ...
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Auditing |
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0 | Hits : 1193
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Open book examination for five elective subjects on trial basis: ICSI
Posted Date : 06-Mar-2014 , 10:39:36 pm | Posted By CASANSAAR
The Institute of Company Secretaries of India will introduce Open Book Examination (OBE) for five elective subjects in Module III on a trial basis, its President R Sridharan said here today. He said the OBE for subjects like Banking, Insurance, Intellectual Property Rights, International Busine...
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Students Zone |
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Customs to ask passengers about source of fund for buying Gold
Posted Date : 06-Mar-2014 , 10:32:45 pm | Posted By CASANSAAR
Seeking to check gold smuggling by courier, the government today tightened baggage rules requiring inbound Indian passengers to provide details like source of funds for importing the metal as well as their air tickets.
According to a Revenue Department circular, the baggage receipt issued by ...
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Custom |
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Corporate Affairs Ministry will seek EC nod before notifying new rules
Posted Date : 06-Mar-2014 , 10:10:25 pm | Posted By CASANSAAR
With the Model Code of Conduct for general polls in force, the Corporate Affairs Ministry will intimate the Election Commission before notifying rules for the remaining provisions of the new companies law. The Ministry is in the process of finalising the rules for various provisions of Companie...
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Corporate Law |
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President Assents Finance Act 2014. Download Finance Bill 2014
Posted Date : 06-Mar-2014 , 09:57:05 pm | Posted By CASANSAAR
Finance Bill 2014 got the assent of President on 04th March 2014 and become THE FINANCE ACT, 2014 (NO. 11 OF 2014). The bill was alreadyapproved by the both the house of Parliament i.e. Lok Sabha and Rajya Sabha.
Download attached Finance Bill 2014 as approved by P...
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Income Tax |
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0 | Hits : 1091
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ICAI has made the Exam stricter and the valuators accountable by scrapping moderation of marks
Posted Date : 06-Mar-2014 , 08:44:37 am | Posted By CASANSAAR
Seeking to curb dilution of standards, the Institute of Chartered Accounts of India (ICAI) has decided to get tough with the pattern and valuation of the Chartered Accountancy exams.
The decision is apparent in the recently-released CA final exams, where successful c...
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Students Zone |
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1 | Hits : 5218
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RBI likely to issue few bank licences: FM
Posted Date : 06-Mar-2014 , 08:40:12 am | Posted By CASANSAAR
The Reserve Bank is likely to issue a few bank licences notwithstanding the model code of conduct which came into force from today, Finance Minister P Chidambaram said.
"What the code of conduct has got to do with this (bank licence process). The government and regulators are discharging their norm...
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Banking |
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Bad loans, the biggest challenge for public sector banks: FM
Posted Date : 05-Mar-2014 , 11:08:03 pm | Posted By CASANSAAR
Worried over a further rise in bad loans, especially among large companies, Finance Minister P. Chidambaram, on Wednesday, exhorted public sector banks to effectively deal with non-performing assets (NPAs), their biggest challenge.
Addressing a press conference here after reviewing the perf...
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Banking |
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2014 Lok Sabha elections in 9 phases from April 7 to May 12, results on May 16
Posted Date : 05-Mar-2014 , 11:33:15 am | Posted By CASANSAAR
The countdown for the 2014 Lok Sabha elections has begun. The polls will be held between April 7 and May 12 in nine phases, said the Elections Commission on Wednesday. The counting of votes will be held on May 16. This is the first time that voting will take place in nine phases in the country.
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Income Tax |
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0 | Hits : 1041
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Corporate affairs ministry seek views from law ministry, Sebi on FTIL action
Posted Date : 05-Mar-2014 , 08:29:28 am | Posted By CASANSAAR
The corporate affairs ministry has sought clarifications from the law ministry and regulators, Securities and Exchange Board of India (Sebi) and Forward markets Commission (FMC), to finalise action against “gross violations” by Financial Technologies India Ltd (FTIL) and relate...
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Corporate Law |
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0 | Hits : 808
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Revision of Interest Rates for Small Savings Schemes for the Financial Year 2014-15 Announced
Posted Date : 05-Mar-2014 , 08:22:44 am | Posted By CASANSAAR
Various decisions taken by the Government of India on the recommendations of the Shyamala Gopinath Committee for Comprehensive Review of National Small Savings Fund (NSSF), were communicated to all concerned by the Government through its Office Memorandum dated 11th November, 2011.
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Finance |
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Announcement on Increase in Minimum amount of Stipend Payable for Students during Training
Posted Date : 05-Mar-2014 , 08:18:36 am | Posted By CASANSAAR
The Council of the Institute (ICSI) at its 220th meeting held on 20.12.2013 has revised and fixed separately the minimum amount of stipend payable to CS Executive Pass students and CS Professional Pass students as under:
Trainer
Executive Pass Rs./per month
Professional Pa...
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Students Zone |
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Now lessons in Chartered Accountancy via DTH platform
Posted Date : 04-Mar-2014 , 08:45:08 am | Posted By CASANSAAR
Aspiring chartered accountants will soon get their lessons through the DTH platform, with Institute of Chartered Accountants of India (ICAI) entering into an agreement with the HRD Ministry to make this possible.
ICAI will be utilising DTH education channels of the Ministr...
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Students Zone |
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0 | Hits : 1389
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SC asks Nokia to settle tax row with I-T department
Posted Date : 04-Mar-2014 , 08:38:18 am | Posted By CASANSAAR
The Supreme Court on Monday asked Nokia India Pvt Ltd to come up with a concrete proposal to settle its tax row with the income tax department.
A bench, headed by justice A R Dave, decided to hear the matter on March 11 after Nokia's counsel submitted there was a need for an early...
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Income Tax |
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0 | Hits : 844
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Deadline for exchanging pre-2005 Bank Notes extended
Posted Date : 03-Mar-2014 , 07:07:48 pm | Posted By CASANSAAR
The Reserve Bank of India has extended the date for exchanging the pre-2005 banknotes to January 01, 2015. The central bank has asked banks to facilitate the exchange of these notes for full value and without causing any inconvenience to the public.
The RBI clarified that the public can con...
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Banking |
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0 | Hits : 1186
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SMS alert service for waitlisted rail passengers launched
Posted Date : 03-Mar-2014 , 04:33:00 pm | Posted By CASANSAAR
Now you no longer have to dial 139 or visit the rail website to check the status of your waitlisted ticket as the railways will now send booking status messages to passengers on mobile phones, if the tickets get confirmed before the journey.
“For the last 10 days the trial was going o...
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General |
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Company Secretaries
Posted Date : 03-Mar-2014 , 08:26:25 am | Posted By CASANSAAR
Playing the governance and transparency card, the Company Secretaries Institute has urged the Corporate Affairs Ministry to revisit the proposed criteria for mandatory secretarial audit in companies.
The new company law has stipulated secretarial audit for certain companies including listed...
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Auditing |
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Sebi wants monitoring agency to keep an eye on all IPO funds
Posted Date : 03-Mar-2014 , 08:24:56 am | Posted By CASANSAAR
In the four-year period between April 1993 and March 1997, as many as 4,005 companies entered the capital markets with their initial public offerings (IPOs) to raise an aggregate of Rs 41,319 crore. The IPOs accounted for more than 9 per cent of the average market capitalisation of Bombay Stock Exch...
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SEBI |
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United Bank faces Auditing, Corporate Governance probes: Report
Posted Date : 02-Mar-2014 , 08:30:29 pm | Posted By CASANSAAR
The crisis-hit United Bank of India, which has run into losses amid suspiciously high bad loans, now faces fresh probes for possible lapses related to auditing and corporate governance norms.
Capital market regulator Sebi has received complaints about possible violations to its corporate go...
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Banking |
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0 | Hits : 917
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I-T plans data centre to nab tax evaders
Posted Date : 01-Mar-2014 , 09:28:32 pm | Posted By CASANSAAR
The next time you shop online or make payment from your debit or credit card at a retail outlet or buy or sell a property, make sure you have filed your income tax return and cleared all dues.
After Central Processing Centres (CPC) for income tax returns and Tax Deducted at Sour...
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Income Tax |
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Download Guidance Note on Audit of Banks issued by ICAI
Posted Date : 01-Mar-2014 , 10:18:57 am | Posted By CASANSAAR
The Auditing and Assurance Standards Board of the Institute of Chartered Accountants of India has issued Guidance Note on Audit of Banks 2014 edition. For the benefit of members, complete text of the Guidance Note along with the accompanying appendices etc. ca...
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ICAI |
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0 | Hits : 2977
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CBDT must clear the air on tax treatment of CSR spend: Corporate India
Posted Date : 01-Mar-2014 , 08:59:19 am | Posted By CASANSAAR
Corporate India wants the income tax law to be clarified upfront so that their CSR spend will be eligible for deduction for income tax purposes with effect from April 1 next year.
The new corporate social responsibility (CSR) framework comes into effect from April 1.
There is no ex...
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Income Tax |
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0 | Hits : 1015
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Vodafone tax conciliation decision due after transfer pricing case is settled
Posted Date : 01-Mar-2014 , 08:53:48 am | Posted By CASANSAAR
The government will take a decision on withdrawal of conciliation offer to Vodafone for resolving the Rs. 20,000 crores tax dispute after a transfer pricing case concerning the UK telecom giant is settled.
"The Cabinet has decided to instruct the Income Tax Appellate Tribunal (ITA...
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Income Tax |
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0 | Hits : 905
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Haryana presents tax free budget, eye on elections
Posted Date : 01-Mar-2014 , 08:43:48 am | Posted By CASANSAAR
With eyes on Assembly elections this year, Congress-led Haryana government on Friday presented a tax-free Budget for 2014-15, with major allocations being made for education, power and social justice and empowerment.
Presenting Bhupinder Singh Hooda led state government's last budget ah...
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Income Tax |
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0 | Hits : 806
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Finance Ministry allows EPFO to become stock exchange member
Posted Date : 28-Feb-2014 , 09:31:11 pm | Posted By CASANSAAR
The Finance Minister has allowed retirement fund body EPFO to become a member of a stock exchange although its trustees oppose parking even a part of its over Rs. 5 lakh crore corpus in equities.
The Department of Economic Affairs has issued a notification under the Securities Contracts (...
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Shares & Stock |
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0 | Hits : 694
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Supply of Certified Copies of Evaluated Answer Books in Soft Form - ICAI
Posted Date : 28-Feb-2014 , 07:09:57 pm | Posted By CASANSAAR
28th February 2014
Currently, certified photo copies of evaluated answer books are being provided to the examinees who apply for the same, in accordance with a scheme formulated for the purpose.With a view to ensure faster delivery of certified copies to the applicants, it has now been decided to m...
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Students Zone |
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0 | Hits : 1216
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Centre hikes DA by 10% for 80 lakh employees & pensioners
Posted Date : 28-Feb-2014 , 06:41:48 pm | Posted By CASANSAAR
The government also approved the terms of reference of the 7th Pay Commission, a move which would pave the way formerger of 50 per cent DA with the basic pay.
According to an official, now the Commission can suggest the merger in its interim report. The 50 per cent DA merger with basic p...
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General |
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0 | Hits : 807
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