Corporate Social Responsibility and Sustainability Provision for the Central Public Sector Enterprises
Posted Date : 03-Sep-2013 , 08:35:34 pm | Posted By CASANSAAR
The Department of Public Enterprises (DPE) has issued guidelines on Corporate Social Responsibility (CSR) and Sustainability for Central Public Sector Enterprises (CPSEs) in April, 2013 wherein each CPSE shall, with the approval of its Board of Directors, make a budgetary allocation for CSR and Sust...
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Corporate Law |
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0 | Hits : 685
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Microsoft to acquire Nokia's handset business for $7.2 billion
Posted Date : 03-Sep-2013 , 09:47:47 am | Posted By CASANSAAR
Microsoft Corp on Tuesday said it would buy Nokia's mobile phone business for 5.44 billion euros ($7.2 billion), and the Finnish firm said its CEO, Stephen Elop, would join Microsoft when the transaction closed. Finland's Nokia, once the undisputed leader in mobile phones, has be...
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Category :
International Business |
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1 | Hits : 950
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NSEL defaulters used dummy accounts: I-T dept
Posted Date : 03-Sep-2013 , 08:14:11 am | Posted By CASANSAAR
The income tax (I-T) department has found that at least one of the big defaulters on National Spot Exchange Limited (NSEL) was using dummy bank accounts, suggesting the matter may be more than just a simple payments default. The I-T department is investigating whether the amounts invested were decla...
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Category :
Income Tax |
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0 | Hits : 653
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Companies Bill: New legislation to govern firms enacted
Posted Date : 03-Sep-2013 , 08:13:12 am | Posted By CASANSAAR
The landmark Companies Bill has been enacted, replacing the nearly six-decade old regulations that governed corporates in the country. After being approved by Parliament last month and receiving assent from PresidentPranab Mukherjee, the new laws have been now Gazetted. "The historic ...
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Category :
Corporate Law |
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0 | Hits : 1005
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Sebi clamps down on launches of gold ETFs
Posted Date : 03-Sep-2013 , 08:11:45 am | Posted By CASANSAAR
Market regulator Sebi has clamped down on new launches of gold exchange traded funds (Gold-ETFs) as the product is seen to be fueling demand for the yellow metal and contributing significantly to the current account deficit. The market watchdog has turned down a number of applications for new gold E...
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SEBI |
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0 | Hits : 730
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TCS selected for Rs 200 cr Income Tax Department project
Posted Date : 03-Sep-2013 , 08:03:22 am | Posted By CASANSAAR
As part of its latest technology upgrade exercise, the income-tax (I-T) department has selected Tata Consultancy Services (TCS), the country’s largest information technology (IT) services company, to implement an I-T upgrade project worth Rs 200 crore. The five-year project involves upgrading ...
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Category :
Income Tax |
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0 | Hits : 888
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Interest on tax refunds haunts Government
Posted Date : 02-Sep-2013 , 08:26:15 am | Posted By CASANSAAR
Delayed direct tax refunds and the high interest outgo are proving to be a headache for the government.
Even as thousands await refunds for the 2011-12 fiscal, the Public Accounts Committee (PAC) of Parliament has called revenue secretary Sumit Bose and attorney general GE Vahanvati&nb...
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Category :
Income Tax |
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0 | Hits : 1055
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MCA plans social media initiatives to create more awareness
Posted Date : 02-Sep-2013 , 08:21:59 am | Posted By CASANSAAR
To reach out and create more awareness among the general public, the Corporate Affairs Ministry plans to unleash online initiatives by tapping Twitter, Facebook and other avenues.
The proposal also comes against the backdrop of rising incidents of common man getting duped by fraudulent scheme...
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Category :
Corporate Law |
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0 | Hits : 696
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ICAI seeks powers to regulate CA coaching institutes
Posted Date : 01-Sep-2013 , 08:55:14 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India wants the central government to empower the ICAI to regulate, monitor and improve the quality of coaching, and also to save students from paying high amounts of fee.
This has become necessary as some corporate colleges in Andhra Pradesh and so...
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Category :
ICAI |
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1 | Hits : 3252
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Petrol price hiked by Rs. 2.35 a litre, diesel by 50 paise
Posted Date : 31-Aug-2013 , 07:45:48 pm | Posted By CASANSAAR
Petrol price was on Saturday hiked by a steep Rs. 2.35 per litre, the sixth increase in rates in three months, and diesel by 50 paise per litre on falling rupee and firming international oil prices.
The increase in rates, which will be effective Saturday midnight, are excluding local sales ...
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Category :
General |
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0 | Hits : 713
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US launches investigation against Indian trade practices
Posted Date : 31-Aug-2013 , 12:31:01 pm | Posted By CASANSAAR
A US Federal agency has launched an investigation into Indian trade policies which allegedly discriminate against the American trade and investment.
The investigation, "Trade, Investment and Industrial Policies in India: Effects on the US Economy", was requested jointly by the Senate Commit...
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Category :
International Business |
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0 | Hits : 825
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Companies Act, 2013: Will Auditors become a vanishing breed?
Posted Date : 31-Aug-2013 , 09:41:27 am | Posted By CASANSAAR
Soon after the Rajya Sabha passed the new Companies Bill, corporate affairs ministerSachin Pilot hogged the limelight by asserting that the basic intent of the new law was lesser regulation, more compliance and to ignite the entrepreneurial spirit by offering "freedom" to entrepreneurs.What's i...
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Category :
Corporate Law |
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0 | Hits : 2911
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RBI plans to request Tirupati, Shirdi shrines to sell their gold pile to rescue Re fall
Posted Date : 31-Aug-2013 , 09:36:23 am | Posted By CASANSAAR
With all efforts to arrest the rupee's slide coming to a naught, policymakers now plan to knock on the doors of temples — from Tirupati to Shirdi — seeking a boon to feed Indians' fetish for gold without importing it.The Reserve Bank of India, which has been making gold im...
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Category :
RBI |
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1 | Hits : 1295
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Tax Evasion by Foreign Companies
Posted Date : 30-Aug-2013 , 09:31:45 pm | Posted By CASANSAAR
Data on dollars transferred abroad by foreign companies in India is not centrally maintained by the government. However, with a view to prevent shifting of profits out of India and consequent erosion of the Indian tax base, selected international transactions undertaken are analysed every ...
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Category :
Income Tax |
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0 | Hits : 806
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Scrunity of NGOs
Posted Date : 30-Aug-2013 , 09:29:54 pm | Posted By CASANSAAR
Details of Non-Governmental Organizations (NGOs) exempted from tax with regard to foreign donations received by them is not centrally maintained in Central Board of Direct Taxes (CBDT). However, details of foreign donation disclosed under Foreign Currency Regulation Act (FCRA). 2010 is maintained in...
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Category :
Income Tax |
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0 | Hits : 818
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Companies Act, 2013 (Act No.18 of 2013) has been assented by President of India on August 29, 2013
Posted Date : 30-Aug-2013 , 04:48:01 pm | Posted By CASANSAAR
COMPANIES ACT, 2013 (ACT NO.18 OF 2013) HAS BEEN ASSENTED BY PRESIDENT OF INDIA ON AUGUST 29, 2013....
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Category :
Corporate Law |
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0 | Hits : 5673
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Probe into affairs of 125 companies for fraud: Govt
Posted Date : 30-Aug-2013 , 08:47:57 am | Posted By CASANSAAR
The Corporate Affairs Ministry today said it has ordered investigations into the affairs of 125 companies for allegedly defrauding investors by offering high returns in the last three years and the current year.
Corporate Affairs Minister Sachin Pilot, while replying to a question in...
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Category :
Corporate Law |
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0 | Hits : 981
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Income tax department goes slow on refunds over Rs 1 lakh
Posted Date : 30-Aug-2013 , 08:35:31 am | Posted By CASANSAAR
The income tax department is going slow on several refunds of over Rs 1 lakh for 2011-12, amid slowing revenue growth due to the faltering economy. While the government has not issued any directives to the revenue officers to go slow on tax refunds, the indications are strong enough to ens...
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Category :
Income Tax |
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0 | Hits : 994
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Sebi induct 75 professionals in new search & seizure division
Posted Date : 30-Aug-2013 , 08:32:51 am | Posted By CASANSAAR
Market regulator Sebi is in the process of hiring 75 people, its biggest recruitment drive in a decade that comes amid a move to set up new divisions for search and seizure, and attachment of assets, among others, at a time the new securities law bill approved by the Lok Sabha gives i...
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Category :
SEBI |
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0 | Hits : 1039
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RBI Governor blames Govt for rupee fall
Posted Date : 29-Aug-2013 , 09:48:42 pm | Posted By CASANSAAR
Reserve Bank of India Governor D Subbarao has attributed the sharp depreciation of the rupee over the last three months to the government’s failure to take care of domestic structural factors such as a high current account deficit (CAD), which is well above the “sustainable lev...
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Category :
Income Tax |
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0 | Hits : 849
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ICAI to find jobs for 5,000 Chartered Accountant passouts
Posted Date : 29-Aug-2013 , 08:33:59 am | Posted By CASANSAAR
Credited as the cheapest course, at Rs 45,000, the Institute of Chartered Accountants of India (ICAI), has set out to promote the course and hold campus placement programmes in various cities.
ICAI, the statutory body for regulation of chartered accountants in India, has set out to place ...
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Category :
Income Tax |
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0 | Hits : 3416
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Finance Ministry sends letters to indirect tax defaulters
Posted Date : 29-Aug-2013 , 08:22:05 am | Posted By CASANSAAR
For the first time, the Finance Ministry has started sending letters to service tax, customs and excise duty defaulters asking them to come clean on certain dubious transactions carried out by them. The letters are being issued by two lead intelligence agencies under the Finance Minis...
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Category :
Service Tax |
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0 | Hits : 934
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India has lost confidence of the world: Ratan Tata
Posted Date : 28-Aug-2013 , 08:23:43 pm | Posted By CASANSAAR
With the economy in distress, leading industrialist Ratan Tata has said India has lost the confidence of the world and the government has been slow to recognise it.
He also said the government has “swayed” under the influence of vested interests in private sector and policies ha...
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Category :
Finance |
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0 | Hits : 1097
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EPFO to launch online facility to view updated accounts
Posted Date : 28-Aug-2013 , 05:51:55 pm | Posted By CASANSAAR
Retirement fund manager EPFO is all set to launch a facility to provide online updated account statements on real time basis for its over 5 crore subscribers soon after the Monsoon Session of Parliament.
At present, the Employees' Provident Fund Organisation (EPFO) has to provide annual PF account ...
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Category :
General |
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0 | Hits : 804
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Rupee hits historic low of 68.70 against dollar, Sensex tanks 500 points
Posted Date : 28-Aug-2013 , 10:58:21 am | Posted By CASANSAAR
The S&P BSE Sensex slipped over 500 points, while the broader 50-share index Nifty fell over 3 per cent to trade below its key psychological level of 5,150.Oil prices have shot up recently after the US indicated a possible military action on Syriafor its alleged use of c...
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Category :
International Business |
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0 | Hits : 757
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Chartered Accountant arrested for Fraud
Posted Date : 28-Aug-2013 , 08:46:18 am | Posted By CASANSAAR
A Chartered Accountant (CA) has been taken into custody by the Central Crime Station (CCS) sleuths for duping a bank to the tune of Rs 12 crore.
According to CCS, a case was registered against Sai Baba, a chartered accountant from Guntur under various sections, including 42...
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Category :
ICAI |
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0 | Hits : 3919
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FAQ
Posted Date : 28-Aug-2013 , 08:33:57 am | Posted By CASANSAAR
I. GENERAL
The ST-3 Return for the period, Oct, 2012- Mar, 2013 is a quarterly or half-yearly?
It is a half yearly return.
Is there any change in the Format of ST3 return for the return period Oct, 2012 -March, 2013 when compared to July – Sept, 2012 return?
Yes. July &ndas...
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Category :
Service Tax |
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0 | Hits : 2809
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Members facing difficulty in registering themselves as
Posted Date : 27-Aug-2013 , 04:16:12 pm | Posted By CASANSAAR
As the members are aware, e-filing of Tax Audit Reports has been made mandatory from the AY2013-14 onwards vide Notification No. 34/2013 dated 01-05-2013. In order to e-file Tax AuditReport a Chartered Accountant requires to register himself in the e-filing portal as a “Taxprofessional”....
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Category :
ICAI |
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0 | Hits : 1774
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Rupee sinks to new low, breaches 66/dollar
Posted Date : 27-Aug-2013 , 04:08:45 pm | Posted By CASANSAAR
The rupee on Tuesday plunged further by 177 paise to record low of 66.07 against the US dollar in afternoon trade on the Interbank Foreign Exchange on strong demand for the American currency from banks and importers and persistent capital outflows.
The rupee had ended down 110 paise or 1.74 p...
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Category :
International Business |
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0 | Hits : 758
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More CAs needed for Banks and Cooperatives- ICAI
Posted Date : 27-Aug-2013 , 08:48:47 am | Posted By CASANSAAR
An action plan has been prepared to extend the services of Chartered Accountants (CA) to banks and cooperatives in a big way, and the Southern India Regional Council (SIRC) of the Institute of Chartered Accountants of India (ICAI) is holding talks with heads of various banks in the southern States i...
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Category :
ICAI |
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0 | Hits : 2824
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