In a fillip to M&As, Sebi allows put & call options in shareholder deals
Posted Date : 04-Oct-2013 , 08:37:49 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) has provided companies the flexibility of buying and selling of shares to private equity investors and strategic partners by changing rules on forward contracts.Sebi on Thursday removed restrictions that were more than a decade old and...
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SEBI |
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0 | Hits : 705
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Diamond merchants face income tax raid after hosting Narendra Modi
Posted Date : 04-Oct-2013 , 08:37:04 am | Posted By CASANSAAR
Three days after BJP's Prime Ministerial candidate Narendra Modi tolddiamond merchants in Mumbai that they run the risk of receiving notices from the I-T department for hosting him, the tax officials did just that: they carried out search operations at offices of several diamond merch...
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Income Tax |
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0 | Hits : 992
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Lalu Prasad Yadav gets 5 years in jail for fodder scam, fined Rs 25 lakh
Posted Date : 03-Oct-2013 , 03:53:06 pm | Posted By CASANSAAR
RJD leader Lalu Prasad was today sentenced to five years imprisonment in a 17-year-old fodder scam case by a specialCBI court after he was convicted on corruption and other charges four days back.The sentencing by special CBI judge Pravas Kumar Singh disqualifies Prasad from ...
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General |
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0 | Hits : 790
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Gujarat NRE Coke
Posted Date : 03-Oct-2013 , 08:42:31 am | Posted By CASANSAAR
How did ICAI president Subodh Agrawal, who is also chairman of the audit committee of Gujarat NRE Coke, recommend unaudited financials of the company’s Australian subsidiaries to the Board of Directors, knowing fully well that they are highly material amounts?
When I first read an a...
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Category :
Auditing |
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0 | Hits : 1734
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MCA orders inspection of NSEL, FTIL books amid crisis
Posted Date : 03-Oct-2013 , 08:23:28 am | Posted By CASANSAAR
Amid the Rs 5,600 crore payment crisis at the National Spot Exchange, the Ministry of Corporate Affairs has ordered the inspection of account books of the bourse and its promoter Financial Technologies India.
In the wake of the crisis, which also raised concerns about the violation of vario...
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Category :
Auditing |
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0 | Hits : 706
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Sebi study suggests stricter auditing of cos fin reporting
Posted Date : 02-Oct-2013 , 08:31:02 pm | Posted By CASANSAAR
Sebi commissioned study has called for stricter auditing of companies' financial reporting to ensure that management discretion is minimised and corporate earnings are not manipulated.
The study, conducted by independent experts for Sebi's Development Research Group, found that executives m...
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SEBI |
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0 | Hits : 755
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Ernst & Young associate escapes ICAI scrutiny
Posted Date : 02-Oct-2013 , 08:41:05 am | Posted By CASANSAAR
An associate of global accounting firm Ernst & Young in India, SV Ghatalia & Associates, auditors of the beleaguered National Spot Exchange (NSEL) for 2011-12, has been kept outside the purview of scrutiny by the Institute of Chartered Accountants in India (ICAI) into the factors t...
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ICAI |
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0 | Hits : 2009
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US shutdown starts, 1 million workers on unpaid leave
Posted Date : 01-Oct-2013 , 07:51:13 pm | Posted By CASANSAAR
The US government began a partial shutdown on Tuesday for the first time in 17 years, potentially putting up to 1 million workers on unpaid leave, closing national parks and stalling medical research projects.
Federal agencies were directed to cut back services after lawmakers could not b...
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Category :
Income Tax |
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0 | Hits : 938
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Service Tax Return (ST-3) for the period April-September' 13 is now available for e-filing by the assesses in both offline and online version
Posted Date : 01-Oct-2013 , 05:48:37 pm | Posted By CASANSAAR
Service Tax Return (ST-3) for the period April -September' 13 is now available in ACES for e-filing by the assesses in both offline and online version. The last date of filing the ST-3 return for the said period is 25th October, 2013.
The assesses can file return either online or use the o...
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Service Tax |
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0 | Hits : 1062
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Why ICAI require a Council or Committees to run the Show?
Posted Date : 01-Oct-2013 , 01:53:44 pm | Posted By CASANSAAR
Since last couple of years this question has been become a Frequently Asked Question (FAQ) of each episode like what happened in last week in the wake of CBDT and Ministry of Finance virtually ignored and rejected the ICAI positions and written requests, representations made by the ICAI as...
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ICAI |
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13 | Hits : 3065
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Government faces yet another blow to retrospective tax laws
Posted Date : 01-Oct-2013 , 08:34:11 am | Posted By CASANSAAR
At a time when the government has made little progress over the settlement of its multi-billion dollar tax dispute with British telecomgiant Vodafone and uncertainty persists over the taxation of cross-border deals, it has been stung with yet another challenge to its controv...
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Income Tax |
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0 | Hits : 1019
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UCBs asked to provide audit certificates of farm debt waiver
Posted Date : 01-Oct-2013 , 08:32:44 am | Posted By CASANSAAR
The Reserve Bank today asked urban co-operative banks to submit their auditors' certificates related to 2008 farm loan debt waiver scheme by October 15. "Considering that there is a wide divergence between the percentage of errors found in the sample audit carried out by CAG and the p...
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RBI |
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0 | Hits : 756
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ICSI National Seminar on
Posted Date : 01-Oct-2013 , 08:22:31 am | Posted By CASANSAAR
In order to facilitate healthy debate on the recommendations of the FSLRC (Financial Sector Legislative Reforms Commission), including the Indian Financial Code, among the people who matter in the financial markets and to sensitize various categories of professionals about the likely reforms path in...
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ICSI |
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0 | Hits : 857
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Thousands give test for Sebi's job call, but few shortlisted
Posted Date : 30-Sep-2013 , 07:38:19 am | Posted By CASANSAAR
In a massive response to Sebi's recruitment call to hire 75 officers, several thousands of the applicants appeared for a written test, but only 247 of them have managed to get shortlisted for personal interviews. Sebi has embarked upon a major recruitment drive to carry out its n...
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SEBI |
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0 | Hits : 939
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CAs to manually file 2 Million Audit Reports in 5 days
Posted Date : 29-Sep-2013 , 08:48:11 am | Posted By CASANSAAR
Unable to solve software glitches in its e-filing system, the Central Board of Direct Taxes has asked assessees to manually file tax audit reports by September 30. The new requirement of manual filing of tax audit reports came through a CBDT notification on September 26.
This means chartere...
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Category :
Income Tax |
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0 | Hits : 1860
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Sebi streamlines norms for Stock Brokers
Posted Date : 28-Sep-2013 , 06:23:43 pm | Posted By CASANSAAR
Capital market regulator Sebi on Friday streamlined its norms for stock brokers including for their registration and payment of fees.The Securities and Exchange Board of India (Sebi) said any person seeking to act as a stock broker is required to be registered with the regulator ...
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SEBI |
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0 | Hits : 637
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How to Reset Income Tax e-filing Password using Digital Signature
Posted Date : 28-Sep-2013 , 08:40:53 am | Posted By CASANSAAR
Assessee can Reset the Password of his Online e-filing account by taking the following steps:-
1. Go To Following link on e-filing website of Income Tax Department :-
https://incometaxindiaefiling.gov.in/e-Filing/Services/ForgotPassword.html
2. Enter the PAN and Captcha ...
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Category :
Income Tax |
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0 | Hits : 2048
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Banks to bear credit card fraud cost, to compensate card holders: RBI
Posted Date : 28-Sep-2013 , 08:09:21 am | Posted By CASANSAAR
Refusing to give further extension to banks for complying with security norms, the Reserve Bank of India (RBI) today said that banks will have to bear the cost of fraudulent credit card transaction through point of sales that do not have prescribed security features.
"It has been decided no...
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RBI |
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1 | Hits : 854
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Unlisted companies can now directly list abroad
Posted Date : 28-Sep-2013 , 08:06:15 am | Posted By CASANSAAR
In a conscious bid to shore up dollar inflows in the wake of a widening current account deficit (CAD), the government on Friday permitted unlisted companies to directly list on stock exchanges abroad without prior or simultaneous listing on Indian bourses.
Hitherto, unlisted companies incor...
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SEBI |
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0 | Hits : 817
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ICAI formed committee to amend Regulation restricting three consecutive term as Council Member
Posted Date : 27-Sep-2013 , 10:52:04 pm | Posted By CASANSAAR
ICAI has constituted a committee to look into amendments if any to be made in rules related to three consecutive term restriction on the continuance as member of the Regional Council vis-à-vis corresponding applicable rules pertaining to Central Counci...
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ICAI |
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0 | Hits : 1038
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Government Approves Fifteen (15) Proposals of Foreign Direct Investment Amounting to About Rs. 2000.49 Crore
Posted Date : 27-Sep-2013 , 06:33:34 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on August 27, 2013, the Central Government has approved 15 proposals of Foreign Direct Investment (FDI) amounting to Rs. 2000.49 crore approximately.
In addition, two proposals viz., M/s...
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Finance |
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0 | Hits : 768
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Company
Posted Date : 27-Sep-2013 , 06:30:27 pm | Posted By CASANSAAR
The Court of the Special Judge, Economic offences, Nampally, Hyderabad has sentenced the Managing Director of M/s Kitty Steels Ltd., Hyderabad to rigorous imprisonment for 3 months along with the fine of Rs. 5000/- each for the two offences committed under section 276B and 276C of the Income Ta...
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Category :
Income Tax |
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0 | Hits : 1320
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Supreme Court gives voters right to reject all Candidates in a Poll
Posted Date : 27-Sep-2013 , 11:08:35 am | Posted By CASANSAAR
In a landmark judgement, theSupreme Court on Friday asked the Election Commission to provide voters right to reject all candidates in elections.
The apex court directed the Election Commission to make 'none of the above' option available for voting.
"Negative v...
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General |
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0 | Hits : 866
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New bank licences: RBI could ease initial equity capital requirement of Rs 500 crore
Posted Date : 27-Sep-2013 , 08:01:28 am | Posted By CASANSAAR
The Reserve Bank of India may be open to relaxing the initial equity capital requirement of Rs 500 crore for setting up a bank if it fails to find enough "fit and proper" candidates during the screening process.
The intention is to allow a greater number of players qualify, a senior officia...
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RBI |
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0 | Hits : 858
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Sachin, Dhoni, Shah Rukh and Salman's IT accounts too hacked by CA Student
Posted Date : 26-Sep-2013 , 08:24:53 pm | Posted By CASANSAAR
Mumbai Police, which is probing the alleged hacking by a CA student into Anil Ambani's e-filing of Income-Tax returns account, has stumbled upon another CA student who not only accessed the top industrialist's account, but also of popular cricketers and film stars including Sachi...
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Category :
Students Zone |
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1 | Hits : 2113
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No change in the ITR filing due date. Tax Audit must be filed Physically on or before 30th Sept 13 if not submitted electronically
Posted Date : 26-Sep-2013 , 02:37:23 pm | Posted By CASANSAAR
This is to inform that there is no change in the ITR filing due date. Tax Audit must be filed physically on or before 30thSeptember 2013 if not submitted electronically. For more details on this please read below Notification F.No. 225/117/2013/ITA.II issued by Central Board of Dire...
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Income Tax |
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0 | Hits : 1449
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Tax audit report due date for e-filing extended to 31.10.2013
Posted Date : 26-Sep-2013 , 01:08:48 pm | Posted By CASANSAAR
F.No. 225/117/2013/ITA.II
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
Dated- 26th September, 2013
Order under Section 119 of the Income-tax Act. 1961.
CBDT in exercise of power under sec 119(2)(a) of the IT Act, 1961 read with Se...
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Income Tax |
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1 | Hits : 6393
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Service tax on skill development companies rolled back
Posted Date : 26-Sep-2013 , 08:48:37 am | Posted By CASANSAAR
In a big relief for youth pursuingvocational training courses to land a job,Finance Minister P Chidambaram has rolled back the 12.36% service tax on skill development and training firms imposed in the Finance Bill of 2013-14. Experts had warned that ...
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Category :
Service Tax |
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0 | Hits : 876
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ICAI begins probing Financial Tech, NSEL issues
Posted Date : 26-Sep-2013 , 08:17:39 am | Posted By CASANSAAR
With the auditors withdrawing their audit report on crisis-hit NSEL’s promoter Financial Technologies, the accounting watchdog ICAI has begun looking into the matter and has sought all available details from the stakeholders concerned.
“There are certain provisions in the auditi...
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ICAI |
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0 | Hits : 809
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Directors' fees pose transfer pricing challenge for companies
Posted Date : 26-Sep-2013 , 08:15:14 am | Posted By CASANSAAR
India Inc, which has to comply with domestic transfer pricing provisions for the first time since the norms were introduced by the Finance Act, 2012, faces compliance challenges. The top-most concern is substantiating that directors' fees paid by companies are at an 'arm's length' — which...
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Category :
Corporate Law |
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1 | Hits : 1123
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