Sebi issues revised format on assets and liabilities for firms
Posted Date : 03-Dec-2013 , 08:49:43 pm | Posted By CASANSAAR
Bringing its regulations in line with the new companies law, Sebitoday issued revised norms for firms with regard to their illustrating assets and liabilities.
The changes are part of norms on 'Issue of Capital and Disclosure Requirements' for listed firms. These are aimed at aligning existing...
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Corporate Law |
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ICAI invites applications from highly competent candidates for the position of SECRETARY
Posted Date : 03-Dec-2013 , 03:21:18 pm | Posted By CASANSAAR
ICAI, the second largest accounting body in the world, set up by an Act of Parliament, is looking for a high profile and multi-faceted personality with leadership qualities, excellent communication, interpersonal and motivational skills for the position of Secretary. This is an EXCELL...
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ICAI |
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0 | Hits : 1729
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Tax row: IT Department rejects Nokia India's offer to pay Rs 2,250 crore
Posted Date : 03-Dec-2013 , 07:56:36 am | Posted By CASANSAAR
The Income Tax (IT) Department, on Monday, told the Delhi High Court that the offer of Finnish mobile maker Nokia to pay a minimum deposit of Rs. 2,250 crore to it is not acceptable.
Nokia India, however, stuck to its offer. A bench of justices Sanjiv Khanna and Sanjeev Sachdeva observed &l...
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Category :
Income Tax |
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0 | Hits : 1167
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Inflation Indexed National Saving Securities- Cumulative (IINSS-C)
Posted Date : 02-Dec-2013 , 04:56:32 pm | Posted By CASANSAAR
The Government of India, in consultation with Reserve Bank of India, has decided to launch Inflation Indexed National Savings Securities-Cumulative (IINSS-C) for retail investors in the second half of December 2013. These securities are being launched in the backdrop of announcement made in the...
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Category :
Income Tax |
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0 | Hits : 1050
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Elections 2014: 31% of AAP supporters want Narendra Modi as next PM
Posted Date : 02-Dec-2013 , 10:29:49 am | Posted By CASANSAAR
Aam Aadmi Party (AAP) chief ministerial candidate Arvind Kejirwal and the BJP's nominee for prime minister Narendra Modi appear to have few similarities. If the former, a political rookie, is seen as a harbinger of cleaner politics and a socialist leaning heavily on populism, Modi, a veteran with a ...
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Category :
General |
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Income Tax department reveals top 10 assessees in all catagories
Posted Date : 02-Dec-2013 , 08:36:52 am | Posted By CASANSAAR
Directors of Kamal Sponge Steel and Power Kamaljeet Singh Ahluwalia and Prashant Ahluwalia, both facing CBI probe in coal scam, are in the list of top 10 Income Tax assessees in the ‘Individual’ category for 2011-12, according to an RTI reply.
The I-T department data shows that ...
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Category :
Income Tax |
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0 | Hits : 2712
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Tehelka holding company networth negative; Auditors red-flag issues
Posted Date : 01-Dec-2013 , 08:25:00 pm | Posted By CASANSAAR
As Tarun Tejpal battles alleged sexual assault charges by a woman colleague, the filings made by Tehelka’s holding company shows a negative networth with liabilities far exceeding its assets.
Besides, auditors have red-flagged issues like absence of an internal audit committee and non...
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Category :
Auditing |
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0 | Hits : 1354
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RBI aims to make people aware of not writing on currency notes
Posted Date : 01-Dec-2013 , 08:45:40 am | Posted By CASANSAAR
The Reserve Bank aims to create awareness among people about not writing anything on the currency notes and that they need to keep them clean, Deputy Governor K C Chakrabarty said on Saturday.
However, when asked if banks would stop accepting such notes from Januray 1, 2014 onwards, he said: ...
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Category :
Banking |
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0 | Hits : 990
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Finance professionals in India frustrated by lack of investment: Survey
Posted Date : 01-Dec-2013 , 08:44:40 am | Posted By CASANSAAR
Indian finance professionals have witnessed more business opportunities over the past six months but are frustrated due to their inability to use such situations, a survey says.
According to the latest global economic conditions survey, undertaken by the Association of Ch...
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Finance |
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0 | Hits : 858
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Punching PIN must for debit card transactions from Dec.1
Posted Date : 30-Nov-2013 , 09:11:01 pm | Posted By CASANSAAR
Debit card holders will be required to punch in their PIN numbers every time they use the card from Sunday, Dec. 1, a move aimed at minimising frauds.
In June, the Reserve Bank had extended the deadline for implementation of mandatory PIN punching at Point-of-Sales (PoS) and merchant outlet...
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Category :
Banking |
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0 | Hits : 1228
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RBI dilutes policy, allows banks to become insurance brokers
Posted Date : 30-Nov-2013 , 04:40:29 pm | Posted By CASANSAAR
Diluting its earlier tough stance, the Reserve Bank of India has decided to permit banks to undertake insurance broking business departmentally, subject to the requirements, including the minimum net worth of Rs 500 crore.
"Banks desirous of offering insurance broking services should seek s...
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Category :
Banking |
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0 | Hits : 599
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Cost Accountants protest against new Cost Audit draft rules
Posted Date : 30-Nov-2013 , 09:27:25 am | Posted By CASANSAAR
Cost Accountants on Friday protested outside the Pune Municipal Corporation (PMC) against the new cost audit draft rules published by the Ministry of Corporate affairs. The accountants have demanded an immediate withdrawal of the rules claiming it detrimental to their field.
The recently pu...
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ICWAI |
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0 | Hits : 2088
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RBI allows banks to pay interest more frequently
Posted Date : 30-Nov-2013 , 09:16:45 am | Posted By CASANSAAR
Triggering a potential deposit war among banks, the Reserve Bank of India on Friday gave commercial banks the option of paying interest on savings and term deposits at intervals less than three months. The RBI move, announced in a notification, is expected to make banks woo depositors more aggressiv...
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RBI |
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0 | Hits : 976
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Vodafone transfer pricing case sent to tax department's DRP
Posted Date : 29-Nov-2013 , 07:11:30 pm | Posted By CASANSAAR
The Bombay High Court today asked British telecom major VodafonePlc to go back to dispute resolution panel (DRP) of the Income Tax Department in its second transfer pricing case. The IT department claimed as much as Rs 370 crore in tax for the assessment year 2009-10.
...
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Category :
Income Tax |
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0 | Hits : 844
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Sebi issues draft norms to regulate research analysts
Posted Date : 29-Nov-2013 , 07:06:56 pm | Posted By CASANSAAR
To ward off market manipulation through 'independent' reports on stocks and listed companies, Sebi today proposed new norms to regulate research analysts while clamping down on research services offered by foreign entities without getting registered in India.
Those to be regul...
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SEBI |
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Rising NPAs: RBI initiates forensic audit at United Bank
Posted Date : 29-Nov-2013 , 08:50:05 am | Posted By CASANSAAR
The Reserve Bank of India has initiated a special inspection of Kolkata-based United Bank of India, apparently prompted by an alarming rise in bad loans that has forced the bank to report a Rs 490-crore loss in the second quarter. While it's not unusual for RBI to undertake such a move, there was sp...
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Category :
Banking |
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0 | Hits : 1133
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MCA clears the air on investments in subsidiaries
Posted Date : 29-Nov-2013 , 08:40:16 am | Posted By CASANSAAR
Giving India Inc some more months to grant loans to directors or make fresh investments in their step-down subsidiaries, the ministry of corporate affairs (MCA) has clarified that provisions of inter-corporate loans as per the old Company Act of 1956 will remain in force till the corresponding secti...
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Category :
Corporate Law |
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0 | Hits : 918
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Live-in relationship neither a Crime nor a Sin: Supreme Court
Posted Date : 29-Nov-2013 , 08:38:48 am | Posted By CASANSAAR
Live-in relationship is neither a crime nor a sin, the Supreme Court has held while asking Parliament to frame law for protection of women in such relationship and children born out of it.
The apex court said unfortunately, there is no express statutory provision to regulate live-in relatio...
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Category :
Corporate Law |
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0 | Hits : 1430
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CBEC Pavilion Received Bronze Medal for Excellence in Display at 33rd Indian International Trade Fair, 2013
Posted Date : 28-Nov-2013 , 07:30:49 pm | Posted By CASANSAAR
CBEC pavilion in 33rd India International Trade Fair, 2013 has been awarded with a bronze medal by Dr. Farooq Abdullah, Hon’ble Minister for New and Renewable Energy during a ceremony held at Pragati Maidan, New Delhi yesterday. CBEC pavilion was highly praised by the public as well as me...
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Category :
Service Tax |
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0 | Hits : 637
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Banks violate RBI norms to deny zero-balance A/Cs
Posted Date : 28-Nov-2013 , 08:02:25 am | Posted By CASANSAAR
Banks have been found to use the Reserve Bank of India's norms as an excuse to avoid opening zero-balance accounts. In a sting operation conducted by a web portal, an IIT Mumbai professor sought to open a basic bank account in 19 banks without address or identity proof. In all the 19 branches, the p...
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Category :
Banking |
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0 | Hits : 1409
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Sebi allows LLPs to get stock exchange membership
Posted Date : 28-Nov-2013 , 07:54:21 am | Posted By CASANSAAR
Market regulator Securities and Exchange Board of India (SEBI), on Wednesday, allowed Limited Liability Partnerships (LLPs), a hybrid between a partnership firm and company, to get membership of stock exchanges in the country.
LLP is a corporate business vehicle that provides benefits of li...
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Category :
Shares & Stock |
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0 | Hits : 746
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Tata Sons withdraws application for bank licence - RBI
Posted Date : 27-Nov-2013 , 07:18:06 pm | Posted By CASANSAAR
Tata Sons has withdrawn its application for setting up a bank, saying its current financial services model best supports the needs of the group's domestic and overseas businesses.
The withdrawal by Tata Sons leaves over two dozen applicants, including Anil Ambani Group and Aditya Birla Grou...
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RBI |
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0 | Hits : 966
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Reduction in Threshold Limit for Mandatory E-Payment of Central Excise Duty and Service Tax
Posted Date : 27-Nov-2013 , 07:08:09 pm | Posted By CASANSAAR
It has now been decided to reduce the threshold limit of mandatory e- payment from rupees ten lakhs to rupees one lakhfor both Central Excise and Service Tax payment with effect from 1st of January, 2014. Notification no. 15/2013-C.E. ( N.T.)dtd 22.11.13 and 16/2013- Se...
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Category :
Service Tax |
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0 | Hits : 1304
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Get Free of cost 10 unstructured CPE hours on a Self declaration
Posted Date : 27-Nov-2013 , 08:27:52 am | Posted By CASANSAAR
One can claim the CPE hours by filing a Self Declaration Form with the ICAI after the end of every calendar year. Current Block for Compliance of CPE Hour is from 01.01.20111 to 31.12.2013. Members who have not filed self deceleration for Calendar Year 2011 & 2012 can al...
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Category :
ICAI |
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5 | Hits : 12319
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New tax regime soon for foreign portfolio investors
Posted Date : 27-Nov-2013 , 08:15:20 am | Posted By CASANSAAR
To boost dollar inflows, the Finance Ministry plans to address the complicated taxation issues for Foreign Portfolio Investors (FPI) without waiting for the next Budget.
FPIs are a new category of investors created by merging existing Foreign Institutional Investors (FIIs), sub-accounts and...
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Category :
Income Tax |
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0 | Hits : 730
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Finance Minister says no escape route for service tax evaders
Posted Date : 26-Nov-2013 , 09:52:56 pm | Posted By CASANSAAR
Finance Minister P Chidambaram on Tuesday said service tax evaders would not get any escape route and warned that stern action, including arrest and prosecution, would be taken against them.
"The services sector constituted 55 percent of the GDP of the country. There is no reason why this sect...
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Category :
Service Tax |
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0 | Hits : 831
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WoS of foreign banks to be exempt from capital gains tax: RBI
Posted Date : 26-Nov-2013 , 06:00:07 pm | Posted By CASANSAAR
The Reserve Bank today said that conversion of existing foreign bank branches into wholly owned subsidiaries in India will neither attract any capital gains tax nor stamp duty.
"In this context...'Special Provisions relating to Conversion of Indian Branch of a Foreign Bank into a Subsidiary...
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RBI |
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Service tax arrears paid before May 10 unlikely to attract penalty
Posted Date : 26-Nov-2013 , 03:13:57 pm | Posted By CASANSAAR
People paying service tax arrears before May 10 can get relief from penalty, the Finance Ministry has indicated.
In a statement issued here on Monday, the Ministry clarified that in cases where service tax dues have been paid in between the date of announcement and actual implementation of ...
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Category :
Service Tax |
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0 | Hits : 893
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Sebi revamps expert panel on disclosures, accounting standards
Posted Date : 26-Nov-2013 , 08:12:04 am | Posted By CASANSAAR
Sebi has reorganised its committee on disclosures and accounting standards that advises the market regulator on matters related to disclosure requirements and accounting practices for various market participants.
The Securities and Exchange Board of India (Sebi) had formed the 'Committee on Disclos...
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SEBI |
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0 | Hits : 825
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Soon, lodge telecom grievances via toll free no. 1037
Posted Date : 25-Nov-2013 , 08:06:42 pm | Posted By CASANSAAR
Telecom subscribers across the country can soon register their complaints by dialling a special toll free number '1037'.
A subscriber, currently, needs to call customer care centre of the service provider to register a complaint.
Customers can go to nodal officers and finally to the appellate auth...
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Category :
General |
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0 | Hits : 765
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