FinMin may garner Rs 3,000 crore from service tax amnesty scheme
Posted Date : 16-Dec-2013 , 08:53:54 am | Posted By CASANSAAR
A one-time amnesty scheme to encourage payment of service tax dues is proving to be a winner for the Finance Ministry.
“We have managed to get over Rs 2,500 crore from the Voluntary Compliance Encouragement Scheme for Service Tax. The total will easily exceed Rs 3,000 crore or even mu...
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Service Tax |
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11 crore PAN holders, only 3.5 crore file tax returns
Posted Date : 16-Dec-2013 , 08:39:40 am | Posted By CASANSAAR
Concerned over tax collection not keeping pace with the growth in income and wealth, a Parliamentary Standing Committee has recommended that the tax department should encourage PAN card holders libel for tax to file their income tax returns.
The committee, in its latest report tabled in Parli...
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Income Tax |
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Kingfisher Airlines assets attached on Rs 350 crore tax default
Posted Date : 16-Dec-2013 , 08:32:08 am | Posted By CASANSAAR
The Income Tax department has attached all assets of cash-strapped Kingfisher Airlines for failing to remit taxes amounting to Rs 350 crore, a senior official said Sunday.
"We have attached all assets of Kingfisher Airlines and are in the process of recovering its dues by sale and attachment of pro...
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Income Tax |
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PSU banks themselves responsible for NPAs, not govt: FM
Posted Date : 15-Dec-2013 , 09:32:03 am | Posted By CASANSAAR
Blaming "tardy" state-run banks for high level of non-performing assets, Finance Minister P Chidambaram Saturday said banks' boards and not the government should be held responsible for the situation.
"If the bank boards cannot perform their duty, blame should stop with the bank boards and not with...
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Banking |
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Cyber Fraud with Practicing Chartered Accountant
Posted Date : 14-Dec-2013 , 06:39:00 pm | Posted By CASANSAAR
CYBER FRAUD WITH PRACTICING CHARTERED ACCOUNTANT BY HACKING HIS ID AND PASSWORD AND FILING OF FORM 3CB-3CD USING THIS ID...
WHAT SHOULD BE THE ROLE OF CENTRAL LEADERSHIP IN THIS MATTER?
A Case of Cyber Fraud is repoted in the Dainik Jagran of 14th December, 2013. In ...
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ICAI |
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I-T dept gave tax exemption worth Rs 3,000 cr to undeserving trusts, NGOs: CAG
Posted Date : 14-Dec-2013 , 04:58:10 pm | Posted By CASANSAAR
The income tax department keeps harping about mandatorily quoting Permanent Account Number in every transaction but a scrutiny by the Comptroller and Auditor General of tax exemptions granted to 1.37 lakh trusts and NGOs has revealed that the I-T department granted exemption to at least 72...
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Income Tax |
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Fraud detection is now responsibility of CAs - President, ICAI
Posted Date : 14-Dec-2013 , 08:21:56 am | Posted By CASANSAAR
The Companies Act 2013 has placed the onus of detection of financial fraud on the auditors (chartered accountants) and therefore the CAs should measure up to the challenge in the changed scenario, according to Subhodh Kumar Agarwal, president of the Institute of Chartered Accountants of India (ICAI)...
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ICAI |
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To check for potential NPAs, RBI orders audit of Allahabad Bank
Posted Date : 14-Dec-2013 , 08:13:25 am | Posted By CASANSAAR
Close on the heels of directing a forensic audit on United Bank of India, the RBI has initiated a special audit of another Kolkata-based lender, Allahabad Bank.
The banking regulator has notified Allahabad Bank about the audit to assess the potential non-performing assets and ‘special...
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Banking |
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Date of Payment of December Installment of Advance Tax Extended From 15th Dec.2013 to 17th Dec.2013
Posted Date : 13-Dec-2013 , 09:35:15 pm | Posted By CASANSAAR
The December instalment of Advance tax is required to be paid on or before 15th December, 2013 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. The banks are ...
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Income Tax |
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Irregular tax exemptions given to cricket associations: CAG
Posted Date : 13-Dec-2013 , 06:16:46 pm | Posted By CASANSAAR
The Income-tax Department has allowed irregular exemptions on TV rights from BCCI to four cricket associations resulting in non-levy of tax to the tune of Rs 37.23 crore, the Comptroller and Auditor General (CAG) said today.
“IT Department allowed exemption in four ... cases for incom...
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Auditing |
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FMC appoints Price Waterhouse Coopers to do special audit of MCX
Posted Date : 13-Dec-2013 , 03:09:17 pm | Posted By CASANSAAR
Commodity markets regulator FMC has appointed global auditing firm Price Waterhouse Coopers (PwC) as the auditor to conduct a special audit of MCX and examine if there was trade by related parties on the bourse.
In the wake of Rs. 5,600 crore payment crisis at NSEL, the FMC had in September ordered...
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Auditing |
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Result of the Information Systems Audit [ISA] Assessment Test held on 30th November, 2013 is likely to be declared on 15th December, 2013
Posted Date : 13-Dec-2013 , 03:05:28 pm | Posted By CASANSAAR
December 12, 2013
The result of the Information Systems Audit [ISA] Assessment Test held on 30th November, 2013 is likely to be declared on 15th December, 2013 around 8 PM at the Institute’s office at New Delhi.The result of the above Assessment Test will be available on the Insti...
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ICAI |
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Delhi High Court unfreezes Nokia's factory assets, tax dispute continues
Posted Date : 13-Dec-2013 , 08:35:19 am | Posted By CASANSAAR
A court on Thursday accepted an appeal by Nokia to release its local factory after it was seized by authorities in a tax dispute, removing a hurdle to the sale of the company's mobile phone business to Microsoft .
The plant in the southern city of Chennai is one of Nokia's biggest phone-mak...
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Income Tax |
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SEBI panel prescribes stricter norms on insider trading
Posted Date : 13-Dec-2013 , 08:34:09 am | Posted By CASANSAAR
The Securities and Exchange Board of India (SEBI) panel, headed by former chief justice of India N. K. Sodhi, has suggested that trades by promoters, employees, directors and their immediate relatives would need to be disclosed internally to the company.
The panel on insider trading also re...
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SEBI |
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Government Approves Two Proposals of Foreign Direct Investment (FDI) Amounting to About Rs. 97.85 Crore
Posted Date : 12-Dec-2013 , 05:49:14 pm | Posted By CASANSAAR
Further to para 7 of the Press Release dated October 25, 2013, wherein it was stated that decision about the five (5) proposals will be communicated separately, the Government of India has approved two (2) proposals of Foreign Direct Investment (FDI) amounting to Rs. 97.85 crore.
&nb...
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Finance |
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FM asks authorities to share information to check tax evasion
Posted Date : 12-Dec-2013 , 01:38:53 pm | Posted By CASANSAAR
Finance Minister P Chidambaram today called for better information sharing among various agencies of the government to check tax evasion.
"I think organisations must come forward to share information withDRI (Directorate of Revenue Intelligence), just as DRI must come forward to share inf...
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Income Tax |
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CBDT brings out 19-point format for Electoral Trusts
Posted Date : 12-Dec-2013 , 08:39:43 am | Posted By CASANSAAR
As poll season gathers momentum, the CBDT has brought out a 19-point fresh standard format for 'Electoral Trusts', created by corporate and business houses to fund political parties.
The checklist has been devised as such that the business firm could enumerate all relevant details about the c...
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Income Tax |
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Posted Date : 11-Dec-2013 , 07:03:48 pm | Posted By CASANSAAR
To mitigate the hardship of small investors and to expedite disposal of cases pending before the Company Law Board the first ever “Lok Adalat” was successfully held at the Company Law Board, Mumbai Bench at Mumbai on 07-12-2013. The initiative to hold Lok Adalat in Company Law Board take...
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Corporate Law |
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0 | Hits : 850
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Gay sex illegal, says Supreme Court, sets aside High Court order
Posted Date : 11-Dec-2013 , 10:49:34 am | Posted By CASANSAAR
The Supreme Court today said gay sex between consenting adults remains a criminal offence, in a major setback for the largely closeted homosexual community in India.
The top court today said that the Delhi High court's 2009 order decriminalising homosexuality is constitutionally unsustainable...
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General |
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Audit reports of banks signed by deceased Chartered Accountants - Regulators
Posted Date : 11-Dec-2013 , 08:49:27 am | Posted By CASANSAAR
Regulators suspect the audits of several banks to be out of this world— not because of their high quality but because they are signed by deceased accountants.The authorities, who claim they are gravely concerned, will discuss the problem at the next meeting of the Financial Stability Developme...
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ICAI |
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MCA seeks NSEL investigation details from EOW
Posted Date : 11-Dec-2013 , 08:41:22 am | Posted By CASANSAAR
The Ministry of Corporate Affairs (MCA) has sought details of progress made in the investigation of the beleaguered National Spot Exchange Ltd (NSEL) case which faces Rs 5,600 crore payment crisis.
“The MCA is in touch with us. They have sought details of progress made in NSEL inves...
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Corporate Law |
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Name and shame insider trading offenders: SEBI advisory board
Posted Date : 10-Dec-2013 , 07:17:12 pm | Posted By CASANSAAR
To deal with insider trading and other offences in securities market, SEBI’s international advisory board today suggested steps like ‘naming and shaming’ of culprits, an effective whistleblower framework and larger penalties.
The board also asked SEBI to consider provision...
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SEBI |
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Government Approves one Proposal of Foreign Direct Investment (FDI) Amounting to About Rs. 31.92 Crore
Posted Date : 10-Dec-2013 , 07:08:55 pm | Posted By CASANSAAR
Further to para 7 of the Press Release dated September 27, 2013, wherein it was stated that decision of the one proposal will be communicated separately, the Government of India has approved the proposal of Foreign DirectInvestment(FDI) amounting to Rs. 31.92 crore appr...
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Finance |
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CCI Issues Order Against CIL and its Subsidiaries For Abusing Dominant Position, Imposes Penalty Of Rs. 1773.05 Crores
Posted Date : 10-Dec-2013 , 07:01:45 pm | Posted By CASANSAAR
The Competition Commission of India (CCI) has imposed a penalty of Rs. 1773.05 crores on Coal India Limited for abusing its dominant position. The final order was passed on 09.12.2013 on a batch of informations filed by Maharashtra State Power Generation Company Ltd. and Gujarat State Electricity Co...
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Corporate Law |
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0 | Hits : 699
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ICSI e-Admit Cards December 2013 Session - Foundation, Executive & Professional Programmes
Posted Date : 10-Dec-2013 , 02:28:28 pm | Posted By CASANSAAR
Download ICSI Admit Cards December 2013 Session -
Foundation, Executive and Professional Programmes.
CLICK HERE FOR DECEMBER 2013 e-ADMIT CARDS
...
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Students Zone |
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Nokia owes Rs. 21,153 crores as total tax liability: IT department
Posted Date : 10-Dec-2013 , 08:21:41 am | Posted By CASANSAAR
The Income Tax department has informed the Delhi High Court that Nokia India and Nokia Corporation owe it Rs. 21,153 crores as total tax liability (existing and anticipated), including penalty during a seven-year period from 2006-2013.
The amount payable by Nokia has been arrived ...
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Income Tax |
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Companies will have to give names of political parties they fund
Posted Date : 10-Dec-2013 , 08:18:42 am | Posted By CASANSAAR
The government has rejected industry's demand for relaxation of a condition under the new companies law that makes it mandatory for them to disclose details of money given to political parties. Companies felt this would make them vulnerable to a backlash from parties that didn't get money or we...
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Corporate Law |
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0 | Hits : 793
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RBI shouldn't grant banking licences to companies: Parliamentary panel
Posted Date : 10-Dec-2013 , 08:01:36 am | Posted By CASANSAAR
A Parliamentary panel Monday suggested the Reserve Bank should refrain from giving bank licences to corporates as the banking business is highly leveraged and involves public money.
Headed by senior BJP leader Yashwant Sinha, the Standing Committee on Finance also asked the RBI to review the guidel...
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Banking |
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21 companies sign agreement with Punjab government for Rs 53,000 crore investment
Posted Date : 09-Dec-2013 , 06:20:39 pm | Posted By CASANSAAR
As many as 21 companies signed agreements with Punjab government totalling an investment of Rs 53,000 crore in the state aimed at providing employment to over a lakh workers. These agreements include NRI business tycoon Lakshmi Mittal's commitment to expand the capacity of his refinery at Bathi...
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General |
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Change of Examination Centre for CPT Exams at Delhi / Patna / Thane
Posted Date : 09-Dec-2013 , 06:07:57 pm | Posted By CASANSAAR
The venue for Common Proficiency Test (CPT) to be held on 15th December 2013(Sunday) has been changed, as attached file given below, for some of the candidates in Delhi, Patnaand Thane centres:
The Examination timing shall remain the same, i.e. 10.30 AM to 12.30 PM and 2.00 PM to 4.00 PM. The Admit...
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Students Zone |
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