Lawyers wants Authorisation to Sign and furnish Tax Audit Certificates / Reports
Posted Date : 01-Jan-2014 , 08:40:57 am | Posted By CASANSAAR
Opening up a money-spinning career proposition for lawyers in the country, the Bar Council of India (BCI) has written to the Union ministry of finance and tax authorities such as Central Board of Direct Taxes (CBDT) that lawyers must be authorised to sign and furnish tax audit certificates/reports, ...
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ICAI |
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6 | Hits : 3533
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Fighting big and bountiful, SEBI gets new anti-fraud powers
Posted Date : 01-Jan-2014 , 08:32:40 am | Posted By CASANSAAR
From large corporates like Sahara to unknown individuals perpetrating SMS investment scams, it was a year marked by lot many penal actions and even more policy measures by Sebi to safeguard the investors interest.
To help it bring to book fraudsters and other market manipu...
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SEBI |
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0 | Hits : 727
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Law making, fraud fighting marks 2013 as a watershed year for MCA
Posted Date : 01-Jan-2014 , 08:27:21 am | Posted By CASANSAAR
After fighting numerous frauds in 2013 and changing the way lakhs of corporates function and are regulated, the Corporate Affairs Ministry is looking at the new year to ensure right execution of new companies law and initiatives aimed at safeguarding interest of investors.
"The real challenge...
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Service Tax |
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0 | Hits : 713
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Extension of last date for compliance of CPE hours requirement is extended upto 31.3.2014
Posted Date : 31-Dec-2013 , 07:00:37 pm | Posted By CASANSAAR
The last date for compliance of CPE HOURS requirements for the block period 2011-2013 is extended upto 31.3.2014.
Secretary,
CPE Committee.
ICAI...
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ICAI |
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0 | Hits : 1123
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RBI clarifies on
Posted Date : 31-Dec-2013 , 05:25:05 pm | Posted By CASANSAAR
The Reserve Bank of India has said that banks will honour all currency notes, scribbled and unscribbled, after rumours spread through some local media that the central bank has advised banks not to accept notes that were scribbled upon.
Scribbling on the top of the note is a widespread prac...
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RBI |
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0 | Hits : 1120
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Banks allowed to lend up to Rs 1 lakh against gold jewellery
Posted Date : 31-Dec-2013 , 08:35:47 am | Posted By CASANSAAR
Reserve Bank of India (RBI) has allowed banks to sanction loans of up to Rs 1 lakh against pledge of gold ornaments and jewellery.
"In response to suggestions from banks and with a view to ensuring a level playing field among various market participants, it has been decided to permit bullet...
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Banking |
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0 | Hits : 1092
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Govt okays multi-brand FDI, Tesco and Vodafone
Posted Date : 31-Dec-2013 , 08:34:46 am | Posted By CASANSAAR
The government on Monday cleared proposals by UK-based retail giant Tesco and telecom company Vodafone to together invest close to Rs 11,000 crore in India, signalling the government's determination to press ahead with FDI even in contentious areas such as multi-brand retail. With clearance from the...
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International Business |
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0 | Hits : 785
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FMC gives more time for auditing NSEL's e-series contracts
Posted Date : 30-Dec-2013 , 08:06:49 pm | Posted By CASANSAAR
Commodity market regulator FMC has given more time till January 17 to Mumbai-based chartered accountants Chokshi and Chokshi for completing the forensic audit of the crisis-hit National Spot Exchange Ltd's (NSEL) e-series contracts.
Chokshi and Chokshi, which was given December-end deadline to comp...
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Auditing |
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0 | Hits : 702
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RBI extends date of issue of inflation-indexed bonds to March 31
Posted Date : 30-Dec-2013 , 08:04:01 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Monday extended the time for issuance of inflation indexed bonds to March 31, 2014 from the earlier December 31, 2013.
The RBI in consultation with government earlier this month launched Inflation-Indexed National Saving Securities-Cumulative (IINSS-C), whic...
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RBI |
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0 | Hits : 609
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Govt. says no extension of VCES, warns of stern action against service tax evaders
Posted Date : 30-Dec-2013 , 02:00:01 pm | Posted By CASANSAAR
The Finance Ministry has warned stern action against service tax evaders from January 1 since the service tax Voluntary Compliance and Encouragement Scheme (VCES) is coming to end on December 31.
“I would like to advise that from January 1, 2014, stern action will be taken against ser...
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Category :
Service Tax |
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0 | Hits : 1115
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ICAI land deal: No more probe against Past President
Posted Date : 30-Dec-2013 , 08:32:07 am | Posted By CASANSAAR
President of Institute of Chartered Accountants of India (ICAI), Subodh Agrawal, has strongly ruled out the chance of any further probe against the organization's former chief Jaideep Shah in the controversial Rs100 crore land deal at Pipla on the city's outskirts.
Shah, who preceded Agra...
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ICAI |
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Centre to begin notifying CSR norms soon: Sachin Pilot
Posted Date : 30-Dec-2013 , 08:27:44 am | Posted By CASANSAAR
Centre will begin notifying much-awaited Corporate Social Responsibility (CSR) norms as part of the new Companies Act in about a week's time. Corporate Affairs Minister Sachin Pilot told in an interview to PTI that his Ministry has finalised the CSR rules and have been sent to the Law Ministry for v...
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Corporate Law |
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0 | Hits : 823
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Country always Faces shortage of Chartered Accountants - ICAI President
Posted Date : 29-Dec-2013 , 05:12:44 pm | Posted By CASANSAAR
Expressing concern over shortage of CAs, the Institute of Chartered Accountants of India (ICAI) today said it has initiated a slew of measures, including improving of infrastructure to attract bright minds, to build their career in the profession. "Presently the country has around 2.25 lakh CAs...
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ICAI |
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4 | Hits : 2839
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RBI asks people to be cautious of Bitcoins
Posted Date : 28-Dec-2013 , 08:02:18 pm | Posted By CASANSAAR
RBI today cautioned people about Bitcoins, virtual currency which has risen sharply in value in the past few months, but said any regulation on it would come only after it understood the subject.
There was no regulation on Bitcoin anywhere in the world and so people should be cautious, should under...
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RBI |
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0 | Hits : 741
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New Companies Law a Challenge for Auditors - ICAI
Posted Date : 28-Dec-2013 , 07:38:06 am | Posted By CASANSAAR
The restriction on auditors has increased manifold after the Satyam episode. While there have been some lapses, all of them cannot be attributed to auditors, according to S Santhanakrishnan, Chairman, Corporate Laws & Corporate Governance Committee, Institute of Chartered Accountants of In...
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ICAI |
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0 | Hits : 1929
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NHB's Rs 2,100 crore tax-free bond issue to open on Dec 30
Posted Date : 28-Dec-2013 , 07:36:06 am | Posted By CASANSAAR
The National Housing Bank's Rs 2,100 crore tax-free bond issue will hit the markets on December 30.
The base issue size is Rs 1,000 crore with an option to retain oversubscription up to Rs 2,100 crore, NHB Chairman and Managing Director R V Verma said here.
The issue will open on Decem...
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Category :
Income Tax |
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0 | Hits : 825
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Vodafone gets relief in Rs.3,700 crore transfer pricing dispute
Posted Date : 27-Dec-2013 , 10:22:06 pm | Posted By CASANSAAR
The Income Tax Appellate Tribunal (ITAT) today stayed aRs. 3,700 crore tax claim by the Income Tax Department on Vodafone India in a transfer-pricing dispute and asked the telecom company to deposit Rs. 200 crore as initial payment and submit bank guarantees for the remaining sum.
Th...
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Income Tax |
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1 | Hits : 957
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Service tax offices to remain open on Dec 28-29
Posted Date : 27-Dec-2013 , 10:13:13 pm | Posted By CASANSAAR
All offices handling service tax will remain open tomorrow as well as the day after (Sunday) to avoid last minute for rush those who want to avail the benefit of one time service tax amnesty scheme.
The last date for filing declaration under Voluntary Compliance Encouragement Scheme (VCES...
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Category :
Service Tax |
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0 | Hits : 840
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Taxmen to accept Aadhaar Card as valid identity, address proof for issuing PAN
Posted Date : 27-Dec-2013 , 08:50:04 am | Posted By CASANSAAR
The Income Tax Department will now accept Aadhaar Card as proof of identity and address for issuance of Permanent Account Number (PAN). The Central Board of Direct Taxes (CBDT) has issued a notification expanding the list of documents admissible as proof of identity and address by including Aadhaar ...
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Income Tax |
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0 | Hits : 1374
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Investors seek Forensic Audit of NSEL brokers
Posted Date : 27-Dec-2013 , 08:27:10 am | Posted By CASANSAAR
NSEL Investors’ Action Group, a breakaway faction of NSEL Investors’ Forum, has petitioned the Mumbai police for conducting a forensic audit of brokers of the National Spot Exchange Ltd in the case of the 55-bln-rupee payment defaults on the exchange.
“In a criminal breach...
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Category :
Auditing |
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0 | Hits : 748
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Sebi simplifies account opening process for investors
Posted Date : 27-Dec-2013 , 08:19:42 am | Posted By CASANSAAR
Capital markets regulator Securities and Exchange Board of India (Sebi) on Thursday simplified investor account opening procedures by doing away with details about income and occupation of the applicant for the purpose of a centralised KYC registration agency.
With this, the regulator is mo...
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SEBI |
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0 | Hits : 718
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ICSI Announcement Regarding Paper-Wise Exemptions
Posted Date : 26-Dec-2013 , 10:30:54 pm | Posted By CASANSAAR
1. Students are required to apply forpaper wise exemption in desired subject through ‘Online Services’ on website www.icsi.edu and for procedure please follow the linkhttp://www.icsi.edu/webmodules/student/ONLINE%20REGISTRATION.pdf
2. Fee for paper wise exemption is Rs...
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ICSI |
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0 | Hits : 1735
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IT department serves notices to individuals refusing to share details of bank accounts with HSBC Geneva
Posted Date : 26-Dec-2013 , 08:12:51 am | Posted By CASANSAAR
The income-tax department has served prosecution notices on Indian nationals who have refused to share information on their undisclosed bank accounts with HSBC Geneva. The names of these individuals had figured in a list of more than 600 HSBC account-holders. The Indian government had received ...
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Income Tax |
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0 | Hits : 874
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IPO ads can be innovative, but risk disclosures must: SEBI
Posted Date : 26-Dec-2013 , 07:54:15 am | Posted By CASANSAAR
In their advertisements to attract investors to public offers, companies can be more creative and innovative as long as they are not misleading and contain necessary disclosures of associated risks and other facts, Sebi chief U K Sinha feels. Primary market has been mostly sluggish for last few...
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SEBI |
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0 | Hits : 714
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Casio under taxman
Posted Date : 26-Dec-2013 , 07:38:25 am | Posted By CASANSAAR
The latest to feel the taxman’s heat is Casio India, a wholly-owned subsidiary of Casio Computer Company Ltd, Japan (Casio Japan).
Indian income tax authorities have invariably been “marking up” the advertising, marketing and promotion (AMP) expenses incurred by the Indian...
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Income Tax |
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0 | Hits : 704
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Taxman
Posted Date : 26-Dec-2013 , 07:32:03 am | Posted By CASANSAAR
The Tax Department is stumped by SEBI’s tax treatment plan for foreign portfolio investors (FPIs).
According to a senior Revenue Department official, a notification on the tax treatment is yet to be finalised. FPI is a new investor category that will merge Foreign Institutional Invest...
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Category :
Income Tax |
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0 | Hits : 646
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Over 300 times increase in service tax revenue in two decades
Posted Date : 25-Dec-2013 , 06:34:19 pm | Posted By CASANSAAR
Revenue from service tax, which has become a new focus area for Finance Ministry, has grown up substantially by over 300 times in past about two decades. The Finance Ministry has earned revenue of about Rs 1.32 lakh crore in 2012-13 (provisional figures) compared to Rs 407 crore in 1994-95, acc...
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Category :
Service Tax |
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0 | Hits : 767
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Regulatory action likely against NSEL Audit firms
Posted Date : 25-Dec-2013 , 08:53:18 am | Posted By CASANSAAR
After passing the ‘fit and proper’ order against National Spot Exchange (NSEL)-promoter Financial Technologies India Limited, the Forward Markets Commission (FMC) plans to move against audit firms and consultants associated with NSEL. The market regulator would issue an advisory on these...
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Category :
Auditing |
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0 | Hits : 1008
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Ignore safe harbour margins for transfer pricing Audits, CBDT tells officers
Posted Date : 25-Dec-2013 , 08:49:44 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has directed assessing officers/ transfer pricing officers to ignore safe harbour rates or margins while conducting transfer pricing audits.
“In cases where an assessee has not opted for safe harbour or the option has not been found to be valid...
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Category :
Income Tax |
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0 | Hits : 804
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StockGuru scam: CBI arrests Income Tax Deputy Commissioner
Posted Date : 25-Dec-2013 , 08:43:33 am | Posted By CASANSAAR
CBI has arrested an Indian Revenue Service officer for allegedly receiving bribes from the perpetrator of the StockGuru scam, Ulhas Prabhakar Khaire.
CBI sources said Yogendra Mittal, a 2006-batch IRS officer who was posted as the Deputy Commissioner of Income Tax, was arrested on the alleg...
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Income Tax |
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0 | Hits : 1001
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