Clarifications Regarding the Service Tax Voluntary Compliance Encouragement Scheme (VCES)
Posted Date : 25-Nov-2013 , 05:32:22 pm | Posted By CASANSAAR
The Union Finance Minister Shri P. Chidambaram recently held interactive sessions at Chennai, Delhi and Mumbai to ascertain and address the concerns of trade on any aspect of the Service Tax Voluntary Compliance Encouragement Scheme (VCES). During these interactive sessions,...
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Service Tax |
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No relaxation: Companies have to spend on CSR initiatives, rotate Auditors
Posted Date : 25-Nov-2013 , 08:36:27 am | Posted By CASANSAAR
The corporate affairs ministry has rejected the industry's demand for a relaxation in the norms on mandatory CSR spending and rotation of auditors outlined in the new Companies Act. A senior official told ET that the ministry has decided to stick to the original draft of rules despite intense lobbyi...
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Corporate Law |
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Arvind Kejriwal never worked as Income Tax Commissioner - IRS Association
Posted Date : 25-Nov-2013 , 08:24:57 am | Posted By CASANSAAR
Taking umbrage at recent remarks by Aam Aadmi Party (AAP) leader Arvind Kejriwal that he had chosen public service over being an Income Tax Commissioner and "earning crores", an association of revenue department officers on Friday shot off a letter to him saying such utterances were "unnecessarily d...
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Income Tax |
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Cost accountants raise concerns over cost audit draft rules
Posted Date : 25-Nov-2013 , 08:22:50 am | Posted By CASANSAAR
Raising concerns over proposal to relax eligibility norms for cost audit of companies, the umbrella organisation of cost accountants today urged the government to modify the draft rules, especially since the planned criteria excludes small and medium enterprises.
The Institute of Cost A...
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Auditing |
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Tax reforms panel keen to improve dispute resolution mechanism
Posted Date : 23-Nov-2013 , 08:13:39 am | Posted By CASANSAAR
The Tax Administration Reforms Commission (TARC) will set up focused groups to identify quicker solutions for long-term issues the Income-Tax Department and taxpayers are grappling with.
These groups will involve private sector representatives as well as revenue officials, TARC Chairman Par...
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Income Tax |
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Magnus Carlsen wins maiden World Chess Championship title, dethrones Vishy Anand
Posted Date : 22-Nov-2013 , 09:27:18 pm | Posted By CASANSAAR
Magnus Carlsen is the new world chess champion. After game No. 10 of the world championship ended in a draw in Chennai on Friday, the 22-year-old Norwegian got the required half-a-point needed to reach 6.5 points and dethrone India's super Grandmaster Viswanathan Anand. The world championship i...
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General |
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Price Waterhouse to convert audit firms into LLPs by April
Posted Date : 22-Nov-2013 , 06:10:24 pm | Posted By CASANSAAR
Professional services firm Price Waterhouse is looking to convert all the nine audit firms under its Indian network into limited liability partnerships (LLPs) by April.
“We are in the process of conversion (from partnership firms to LLPs). By April 1, 2014, all the nine audit firms un...
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Auditing |
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Nokia offers to pay part of Rs 3,000-cr tax payment demand to unfreeze its Chennai factory
Posted Date : 22-Nov-2013 , 06:00:24 pm | Posted By CASANSAAR
Finnish mobile maker Nokia has moved the Delhi High Court, seeking lifting of stay on transfer of its assets here in an alleged tax evasion case, contending that the injunction will jeopardise the sale of its Indian arm to Microsoft under the $7.2-billion global deal.
The company submitted ...
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Income Tax |
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Launch of E-books by ICAI
Posted Date : 22-Nov-2013 , 03:51:05 pm | Posted By CASANSAAR
ICAI believes in harnessing technology for the benefit of members and students. In view of increased use of tablets and smart phones that facilitate easy reading, the ICAI has come out with study materials in form of e-books. Now students will be able to conveniently read and learn on the move. Pres...
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Students Zone |
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Current spate of financial crises has reinforced role of auditors' - Pranab Mukherjee
Posted Date : 22-Nov-2013 , 08:17:09 am | Posted By CASANSAAR
President Pranab Mukherjee on Thursday said that the current economic environment poses many issues in the financial and accounting world, and added that the chartered accountants have an important role to play in advising the management as well as users of financial statements.
...
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ICAI |
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RBI asks banks to fine-tune recovery, due diligence for NPAs
Posted Date : 21-Nov-2013 , 09:01:40 pm | Posted By CASANSAAR
In the wake of deteriorating asset quality in the banking system, which is hovering at record highs, the Reserve Bank today asked banks to strengthen their due diligence and improve the loan recovery process. "Banks need to not only follow the various measures put in place by the RBI and the go...
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Banking |
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Sebi warns investors against dealing with MCX Biz Solutions
Posted Date : 21-Nov-2013 , 08:54:48 pm | Posted By CASANSAAR
SEBI today cautioned general public and investors against dealing with MCX Biz Solutions and its proprietor Syed Sadaq, who were found running fraudulent investment schemes with fake and forged documents while using a name similar to that of an exchange group.
Market regulator said the re...
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SEBI |
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SC restrains Subroto Roy from leaving country
Posted Date : 21-Nov-2013 , 08:31:10 pm | Posted By CASANSAAR
The Supreme Court Thursday restrained Sahara Group chief Subrata Roy and two directors from leaving the country as they have failed to comply with its Oct 28 orders.
By its Oct 28 orders, the court directed the Sahara group's real estate and finance arm - Sahara India Real Estate ...
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Corporate Law |
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PwC re-appoints Deepak Kapoor as India chairman for 3 years
Posted Date : 21-Nov-2013 , 08:26:40 pm | Posted By CASANSAAR
Global consulting firm PwC today said it has re-appointed Deepak Kapoor as the Chairman of PwC India for three years beginning January 2014. "Deepak Kapoor has been re-elected for a second term as Chairman of PwC India network of entities, for a three year period beginning on 1 Jan 2014," it sa...
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Auditing |
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MCA release sixth tranche of draft rules under Companies Act 2013 in relation to Cost records and Cost Audit
Posted Date : 21-Nov-2013 , 08:02:36 pm | Posted By CASANSAAR
DRAFT RULES FOR COST AUDIT UNDER 6TH TRANCHE HAS BEEN PUT FOR PUBLIC COMMENTS. LAST DATE FOR GIVING SUGGESTIONS IS 6/12/2013.
CLICK HERE TO DOWNLOAD
CLICK HERE TO SEND FEEDBACK....
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Corporate Law |
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CA institute acts against 2 senior partners of Lodha & Co
Posted Date : 21-Nov-2013 , 08:45:22 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India has ordered the removal of Harsh Vardhan Lodha and Aditya Lodha from the member-rolls of the institute for three months on grounds of professional misconduct.
The two are senior partners of chartered accountant firm Lodha & Co. Harsh Vardh...
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ICAI |
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MCA release draft Rules for Winding Up for Public Comment
Posted Date : 21-Nov-2013 , 08:35:27 am | Posted By CASANSAAR
MCA release Draft rules for Winding up under 5th tranche and put for public comments. Last Date for giving suggestion is 19/12/2013.
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Corporate Law |
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0 | Hits : 846
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Bank employees threaten strike on Dec 19
Posted Date : 20-Nov-2013 , 10:00:35 pm | Posted By CASANSAAR
Employee unions in public sector banks today threatened to go on nation-wide strike on December 19 to press for early wage revision.
The United Forum of Bank Unions in a meeting held in Chennaidecided to go on strike on December 19, Ashwini Rana, General Secretary of the National Organis...
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Category :
Banking |
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Sebi proposes new regulations for employee stock options
Posted Date : 20-Nov-2013 , 08:06:46 pm | Posted By CASANSAAR
Market regulator Securities and Exchange Board of India (Sebi) has proposed a major overhaul of stock-related employee benefit schemes, to allow companies purchase shares from the open market.
The regulator, in January 2013, had prohibited secondary market purchases by employee welfare trusts or un...
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SEBI |
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RBI asks NBFCs to take part in Lok Adalat on Nov 23
Posted Date : 20-Nov-2013 , 07:59:58 pm | Posted By CASANSAAR
The Reserve Bank today asked all the non-banking financial companies (NBFCs) to participate in the Lok Adalat on November 23 for settlement of any pending cases or dues.
"RBI has appealed to all Non-Bank Finance Companies (NBFCs) to participate in the Lok Adalat being organised by th...
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Banking |
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Announcement
Posted Date : 20-Nov-2013 , 04:34:53 pm | Posted By CASANSAAR
IMPORTANT ANNOUNCEMENT
November 19, 2013
Subject: Zone-shifting of candidates for 15th December - 2013 CPT
Due to paucity of accommodation in certain Zones opted by the candidates in the cities of Chennai, Delhi and Indore, some of the candidates have been allotted examin...
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Students Zone |
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0 | Hits : 750
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PricewaterhouseCoopers to conduct special audit of MCX
Posted Date : 20-Nov-2013 , 10:47:25 am | Posted By CASANSAAR
The Forward Markets Commission (FMC) on Tuesday approved Price Waterhouse Coopers (PWC) as the auditor to conduct a special audit of MCX and Chokshi & Chokshi chartered accountants to conduct the forensic audit of NSEL’s e-series contracts.
The regu...
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Category :
Auditing |
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RBI directs PSU banks to give loans to women self-help groups at 7 per cent
Posted Date : 20-Nov-2013 , 10:45:42 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Tuesday directed public sector banks to provide credit to women self-help groups at the rate of 7 per cent per annum so as to get the benefit of interest subvention scheme under the Swarnajayanti Gram Swarozgar Yojana-Aajeevika (SGSY) scheme.
"PSBs will be subvent...
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Banking |
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Cabinet likely to red-flag super-rich tax in DTC Bill
Posted Date : 20-Nov-2013 , 10:36:57 am | Posted By CASANSAAR
The proposal to levy a ‘super-rich’ tax, at the rate of 35 per cent, on those earning more than Rs 10 crore a year might not receive support of the Union Cabinet, which is to consider the Direct Taxes Code (DTC) Bill this month. This is because the government might not lik...
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Category :
Income Tax |
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Bharatiya Mahila Bank starts with 7 branches
Posted Date : 20-Nov-2013 , 10:32:31 am | Posted By CASANSAAR
Bharatiya Mahila Bank, the country’s first all-women commercial bank, commenced its operations on Tuesday with seven branches. However, doubts remain if the bank will succeed in achieving its objective of economic empowerment of women in remote villages.
“The setting up of the...
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Banking |
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Provide writers for disabled Students: Delhi HC to ICAI
Posted Date : 18-Nov-2013 , 09:30:42 pm | Posted By CASANSAAR
The Delhi High Court Monday directed the Institute of Chartered Accountants of India (ICAI) to prepare a panel of writers to assist disabled students in appearing for the chartered accountancy examinations that it conducts.
The court has asked that the panel be...
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Students Zone |
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Banks wrote off 1 lakh crore over last 13 years - RBI
Posted Date : 18-Nov-2013 , 08:53:15 pm | Posted By CASANSAAR
Reserve Bank deputy governor KC Chakrabarty has said banks have written off a whopping Rs 1 trillion in the past 13 years and criticised the lenders because as much as 95 per cent of these write-offs were for large borrowers.
"During the past 13 years what we see is t...
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Banking |
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0 | Hits : 837
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Sebi asks companies to improve quality of disclosure
Posted Date : 18-Nov-2013 , 08:45:38 pm | Posted By CASANSAAR
Securities and Exchange Board of India (Sebi) has directed stock exchanges to beef up their surveillance system to ensure the disclosure standard of listed companies is accurate and adequate.
The move is aimed at ensuring complete and timely information reaches investors to enable them ta...
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SEBI |
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Non-applicability of Companies Act, 2013 for May 2014, Examinations - ICAI
Posted Date : 18-Nov-2013 , 05:37:31 pm | Posted By CASANSAAR
18th November, 2013
Important AnnouncementAttention: Intermediate (IPC) and Final Course studentsNon-applicability of Companies Act, 2013 for May 2014, Examinations
This is to bring to the notice of students that the Companies Act, 2013 notified in the Official Gazette on 30th August, 2013 (...
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Students Zone |
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RBI designates 29 bank branches to collect advance income tax
Posted Date : 18-Nov-2013 , 02:45:47 pm | Posted By CASANSAAR
Reserve Bank has designated 29 bank branches, including public and private banks to collect income tax payment in advance of the due date to avoid the last minute rush towards March-end.
State Bank of India, ICICI Bank, HDFC Bank, Axis Bank, Allahabad Bank, Punjab National Bank, Oriental Ba...
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Category :
Income Tax |
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