Congrats to CA.Adish Kumar Jain for being nominated as Director of Corporation Bank
Posted Date : 04-Jan-2014 , 04:05:47 pm | Posted By CASANSAAR
Congrats to CA.Adish Kumar Jain for being nominated as Director of Corporation Bank.
Shri Adish Kumar Jain, B.Sc., L.L.B.,FCA, DISA(ICAI) is a fellow member of the Institute of Chartered Accountants of India (M. No. 071255),having rich experience of over 30 years in the fiel...
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General |
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MCX-SX board appoints EY for forensic Audit
Posted Date : 04-Jan-2014 , 08:42:59 am | Posted By CASANSAAR
MCX-SX board chaired by former home secretary GK Pillai on Friday appointed Ernst & Young (EY) to carry out forensic audit of the stock exchange since its inception in December 2008 when it began trading in currency futures. The board, which has been taken over by government-appointed representa...
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Auditing |
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0 | Hits : 933
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Financial benchmark calculation may be based on observable transactions
Posted Date : 04-Jan-2014 , 08:39:50 am | Posted By CASANSAAR
The Reserve Bank of India (RBI)’s panel on financial benchmarks has made several recommendations to bring in more transparency and improve the functioning of financial benchmarks.
The panel said in its draft report the methodology used to calculate these benchmarks should be based o...
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RBI |
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Petrol price hiked 75p/ltr, diesel 50p with effect from midnight tonight
Posted Date : 03-Jan-2014 , 07:50:01 pm | Posted By CASANSAAR
Petrol price has been hiked yet again, this time by a massive 75 paise a litre, while diesel price has been raised by the regulation 50 paise today after jump in global oil rates and fall in Indian rupee value increased the cost of production.
The hikes, effective midnight tonight, are excl...
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General |
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0 | Hits : 759
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Maharashtra govt waives off 5% cane purchase tax
Posted Date : 03-Jan-2014 , 08:53:38 am | Posted By CASANSAAR
The state cabinet on Thursday decided to waive the 5% sugarcane purchase tax for a year. The decision was taken as a relief measure for sugar factories that had claimed financial crisis before the beginning of the crushing season 2013-14.
The waiver of sugarcane purchase tax was a crucial demand ma...
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General |
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Demat allotment of preferential shares must for foreign investors: SEBI
Posted Date : 03-Jan-2014 , 08:22:00 am | Posted By CASANSAAR
To ensure more transparency in capital market, Sebi said that mandatory allotment of preferential shares through demat accounts will also be applicable to overseas investors.
The move is part of Sebi's effort to check the flow of illicit funds in the issuance of shares to investors on prefe...
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SEBI |
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0 | Hits : 702
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Banks free to charge 'reasonable ATM fees': RBI
Posted Date : 03-Jan-2014 , 08:13:29 am | Posted By CASANSAAR
Amid growing clamour from banks to charge customers for transactions at ATMs to make them economically viable, RBI Deputy Governor K C Chakrabarty today said the regulator will have no objections if the lenders charge "reasonable fee" for such services.
"If banks charge a reasonable fee on ATM tran...
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RBI |
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0 | Hits : 1235
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FinMin initiates exercise for interim budget
Posted Date : 02-Jan-2014 , 07:32:08 pm | Posted By CASANSAAR
Gearing up for the presentation of interim budget, Finance Ministry has asked different central government departments to come up with their demands by January 10.
The third and final batch of Supplementary Demands for Grants for 2013-2014 (excluding Railways) is proposed to be pres...
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Budget |
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0 | Hits : 803
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Facility to upload Form 15CA is now available as offline utility
Posted Date : 02-Jan-2014 , 11:10:26 am | Posted By CASANSAAR
CBDT has finally recognised the difficulty faced by the importers of services in filing online 15CA and introduced the Facility to upload Form 15CA is now available as offline utility.
The Remitter may use either online or offline utility to upload Form 15CA.
This facil...
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Income Tax |
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0 | Hits : 6174
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Convocation for newly qualified Chartered Accountants at New Delhi by NIRC
Posted Date : 02-Jan-2014 , 10:04:07 am | Posted By CASANSAAR
We are pleased to inform you that the Institute of Chartered Accountants of India is organizing Convocation 2013 at Delhi to distribute Certificates of Membership to the newly enrolled members of the Institute from membership number 526761 to 533317, with a view to promote professional camaraderie a...
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ICAI |
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1 | Hits : 7378
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NBFCs not to make provision for guaranteed portion of loan: RBI
Posted Date : 02-Jan-2014 , 09:40:12 am | Posted By CASANSAAR
The Reserve Bank said non-bank financial companies ( NBFCs) do not have to make provision for guaranteed portion of loans for low income housing. In case of NBFC-MFIs, if the advance covered by Credit Risk Guarantee Fund Trust for Low Income Housing (CRGFTLIH) guarantee becomes non-performing, ...
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Banking |
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0 | Hits : 869
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RBI seeks taxman
Posted Date : 02-Jan-2014 , 09:33:41 am | Posted By CASANSAAR
The Reserve Bank of India has asked the income-tax authorities information on six issues related to tax compliance of the 25 groups that have thrown their hat in the ring for starting a bank.
Faced with the Herculean task of generating tax compliance reports on more than 1,500 entities asso...
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RBI |
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0 | Hits : 844
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President of the ICAI to Head the South Asian Federation of Accountants (SAFA)
Posted Date : 01-Jan-2014 , 08:39:56 pm | Posted By CASANSAAR
Shri Subodh Kumar Agrawal, President, The Institute of Chartered Accountants of India (ICAI) has been appointed as the President of the South Asian Federation of Accountants (SAFA) for the year 2014 w.e.f. today. He was the Vice-President of SAFA for the year 2013. Having passionately represent...
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ICAI |
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0 | Hits : 815
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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 : 3542
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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 : 738
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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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Category :
Service Tax |
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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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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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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 : 1099
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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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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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Category :
Auditing |
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0 | Hits : 717
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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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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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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 : 834
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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 : 2903
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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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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 : 1936
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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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Income Tax |
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0 | Hits : 834
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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 : 966
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