FinMin mulls new intel wing to check service tax evasion
Posted Date : 07-Apr-2013 , 10:50:46 pm | Posted By CASANSAAR
Concerned over mounting cases of service tax evasion, the Government is mulling to create a separate intelligence unit to check the menace and stop leakage of revenue.
The proposed Directorate of Anti Evasion to check service tax evasion is likely to be set up by the Finance Ministry close ...
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Service Tax |
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I-T Act to be amended once Vodafone tax dispute resolved: FM
Posted Date : 07-Apr-2013 , 10:46:13 pm | Posted By CASANSAAR
Finance Minister P Chidambaram today said the government will amend the Income Tax Act once the over Rs 11,200 tax dispute with Vodafone is resolved.
The Minister said, however, that such an amendment was unlikely in the ongoing Budget Session.
"An amendment to the I-T act is necessary. The questi...
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Income Tax |
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12 companies authorised to own, operate ATMs, says RBI official
Posted Date : 07-Apr-2013 , 08:38:43 am | Posted By CASANSAAR
The Reserve bank of India has given in-principle approval to seven companies to roll out White Label ATMs last month.
White Label ATM (WLA) operator is a non-bank entity which can set up, own and operate an automated teller machine (ATM) as extended delivery channels. The RBI gave final gui...
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RBI |
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DISA Members allowed to conduct Annual Systems Audit of BSE Stock Brokers
Posted Date : 06-Apr-2013 , 04:11:04 pm | Posted By CASANSAAR
BSE, vide its Notice No 20130405-5 dated 05 Apr 2013, has clarified that DISA Qualified members are also eligible to conduct Annual Systems Audit of trading members who have availed of the IML/ Internet facility from the Exchange.
Official Notification&nbs...
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Auditing |
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Govt releases latest edition of consolidated FDI policy
Posted Date : 06-Apr-2013 , 03:07:25 pm | Posted By CASANSAAR
The Department of Industrial Policy and Promotion (DIPP) today released the latest edition of consolidated FDI policy incorporating the changes made in the regulations over the past one year.
The DIPP is the nodal agency on FDI related matters. With a view to make Indias FDI regime simple and easy ...
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Finance |
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Infosys' S Gopalakrishnan is the new CII President
Posted Date : 06-Apr-2013 , 12:33:16 pm | Posted By CASANSAAR
S. Gopalakrishnan (Kris), co-founder and executive co-chairman, Infosys Technologies Limited, has been elected as the President of CII for the year 2013-14. He succeeds Mr Adi Godrej as the new President. S. Gopalakrishnan along with Mr N.R. Narayana Murthy&nb...
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General |
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RBI likely to penalise top 3 private banks
Posted Date : 06-Apr-2013 , 08:02:48 am | Posted By CASANSAAR
Lapses in adherence to the know-your-customer guidelines and sales staff encouraging customers to buy gold, mutual fund and insurance products in cash are believed to be among the findings of a central bank scrutiny of India’s top three private sector banks.
Based on the findings of t...
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RBI |
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I-T department slaps Rs 3900 crore tax order on A V Birla Group companies
Posted Date : 06-Apr-2013 , 07:56:45 am | Posted By CASANSAAR
In a major setback to the AV Birla Group, theincome tax department has turned the heat on two group entities, Idea Cellular and Aditya Birla Telecom Limited(ABTL), slapping a tax demand of nearly Rs 4000 crores on a telecom business de-merger executed in 2009, three sources ...
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Income Tax |
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ICSI National Awards for Excellence in Corporate Governance - 2012
Posted Date : 05-Apr-2013 , 09:26:19 pm | Posted By CASANSAAR
Chairman of the Awards Jury of the ICSI (Institute of Company Secretaries of India) and former Chief Justice of India ShriJustice M. N. Venkatachaliah here today presented the ‘ICSI National Awards for Excellence in Corporate Governance -2012’ to two ‘Best Gove...
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ICSI |
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Zone-shifting of candidates for May - 2013 CA Exams.
Posted Date : 05-Apr-2013 , 09:22:22 pm | Posted By CASANSAAR
IMPORTANT ANNOUNCEMENT
April 5th, 2013
Subject: Zone-shifting of candidates for May - 2013 CA Exams
Due to paucity of accommodation in some Zones opted by the candidates in the cities of Chennai, Indore and Mumbai some of the candidates have been allotted examinations centres ...
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Students Zone |
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Competition Commission of India - Amendments to the Combination Regulations
Posted Date : 05-Apr-2013 , 09:20:05 pm | Posted By CASANSAAR
The Competition Commission of India (CCI) has amended the Combination Regulations with a view to further simplify the filing requirements and bring about greater certainty in the application of the Act and the Regulations. The provisions of the Competition Act, 2002 (“Act”) relating...
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General |
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Companies Need to Look Beyond Shareholder Value And Make Sustainability a Core Driver of their Strategy – Sachin Pilot
Posted Date : 05-Apr-2013 , 09:14:16 pm | Posted By CASANSAAR
Shri Sachin Pilot, Minister of Corporate Affairs, inaugurated the two-day 2nd CSIA (Corporate Secretaries International Association) International Corporate Governance Conference on the theme ‘Corporate Governance for Sustaining Prosperity and Posterity.’ Addressing the delegates from ac...
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Corporate Law |
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CAs to soon offer free auditing services
Posted Date : 05-Apr-2013 , 06:43:07 am | Posted By CASANSAAR
The call for Corporate Social Responsibility (CSR) by the corporate affairs ministry has turned into a Professional Social Responsibility (PSR) for lakhs of Chartered Accountants (CAs) who may soon provide free auditing and accounting services in the country.
Institute of Chartered Accounta...
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ICAI |
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Indian Railways to open all services for service tax registration
Posted Date : 05-Apr-2013 , 06:38:37 am | Posted By CASANSAAR
This was something that the country's largest employer had been reluctant to do ever Lalu Prasad took over as its boss. But the Indian Railways has now relented and has agreed to open services other than ticketing, that are offered by its various arms, to service tax.
The Central Railway and Wester...
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Service Tax |
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Download online ICAI Admit Card for May 2013 examination
Posted Date : 04-Apr-2013 , 05:42:07 pm | Posted By CASANSAAR
ICAI conducts various examinations for take admission into various Accountancy Courses. ICAI Admit Card 2013 is available for C.A. Final, Intermediate (IPC) /ATE Examinations.
Note: Students open link in any web browser then “Select Exam” from drop down menu and “Enter the Registrat...
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Students Zone |
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612 Indians including 2 MPs have shell companies in tax havens: report
Posted Date : 04-Apr-2013 , 04:54:12 pm | Posted By CASANSAAR
International Consortium of Investigative Journalists (ICIJ), in collaboration with 38 media organisations across the world, including Indian Express, has revealed that there are 612 Indians who have shell companies in tax havens.
The list includes two MPs - Kingfisher group owner Vijay Mal...
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Income Tax |
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Ludhiana Assistant IT Commissioner, Jalandhar CA, caught in bribery case
Posted Date : 04-Apr-2013 , 09:00:01 am | Posted By CASANSAAR
The CBI on Wednesday allegedly caught red-handed a deputy commissioner of the Ludhiana Income Tax (I-T) department accepting a bribe of Rs 6 lakh from a businessman. The agency's anti-corruption branch also picked up a Jalandhar-based chartered accountant (CA) Ashwani Kumar Gupta for allegedly actin...
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ICAI |
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Service Tax Amendments by FA 2012 Applicable for CA IPC May & Nov,13 Exams
Posted Date : 04-Apr-2013 , 08:48:10 am | Posted By CASANSAAR
Announcement for Intermediate(Integrated Professional Competence) Examinationapplicable from May 2013Examination onwards: Paper-4: Taxation (Part II: Service Tax & VAT). – (01-04-2013)
Paper 4: Taxation (Part II: Service Tax and VAT)
Ser...
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Students Zone |
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Rs 2,300 Cr lost in sales tax, VAT
Posted Date : 04-Apr-2013 , 08:44:14 am | Posted By CASANSAAR
The CAG has pointed out serious deficiencies in tax collection by the state. The assessment of sales and value added taxes has shown irregularities in the exemption claims. These trouble spots have caused a loss of over Rs 2,300 crore to the exchequer in 2011-12.
The auditor also as...
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VAT |
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CBI, income tax team start examining Radia tapes
Posted Date : 04-Apr-2013 , 08:41:41 am | Posted By CASANSAAR
The team, headed by a Deputy Inspector General-rank officer, have started the process of going through the tapes and its transcripts running into 49 volumes last week as per the directions of Supreme Court in February this year, official sources said.
A six-member CBI and Income Tax team ha...
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Category :
Income Tax |
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RBI to UCBs: Grant unsecured loans up to 25 pc of assests
Posted Date : 04-Apr-2013 , 08:25:14 am | Posted By CASANSAAR
To promote lending to priority sectors, the Reserve Bank today allowed urban co-operative banks (UCBs) to grant unsecured loans up to 25 per cent of their assets if certain conditions are met.
"In order to promote lending to priority sectors and to provide impetus to the objective of financial...
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RBI |
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FAQs on ST3 return for July-September 2012
Posted Date : 03-Apr-2013 , 09:15:44 am | Posted By CASANSAAR
I got ST registration on/after 01.07.2012 with the service description, ‘Other Than in the Negative List’. Can I file the return now?
Assessees registered / amended their registration on or after 01.07.2012 with the service description, ”All Taxable Services &n...
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Service Tax |
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ICAI seeks information from banks on Deccan Chronicle but no letters to Auditors of the Co.
Posted Date : 03-Apr-2013 , 08:54:10 am | Posted By CASANSAAR
Accounting regulator ICAI said it has sought information from banks regarding media group Deccan Chronicle Holdings Ltd (DCHL). "We have written to the appropriate authority to get information... We have written to banks regarding Deccan Chronicle (issue)," Institute of ...
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ICAI |
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I.Tax dept wants to count your Cash
Posted Date : 03-Apr-2013 , 08:44:42 am | Posted By CASANSAAR
Now, keeping cash more than Rs 50,000 with you may draw the attention of the Income Tax Department. In the new forms for income tax returns, the government may ask non-salaried individuals to declare in-hand cash of more than Rs 50,000.
The department may also seek the details of vehicles, aircraft...
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Income Tax |
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ICAI asks firms to show forex fluctuations as separate item
Posted Date : 03-Apr-2013 , 08:44:24 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) plans to advise companies to show separately the impact of currency fluctuations on their long-term foreign currency transactions from the current fiscal.
The regulator has asked the companies to put this item on the "equity and liabili...
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ICAI |
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RBI revises capital norms for bank guarantees
Posted Date : 03-Apr-2013 , 08:20:53 am | Posted By CASANSAAR
The Reserve Bank has revised capital norms for financial and performance guarantees offered by banks. The applicable credit conversion factor or CCFfor determining the credit equivalent amount with regard to financial guarantees are revised to 100% of the value of the guarantee. While...
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RBI |
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I-T department slaps iPhone distributor Redington with Rs 138 crore tax demand
Posted Date : 03-Apr-2013 , 08:13:33 am | Posted By CASANSAAR
The Income tax department has slapped anRs 138 crore tax demand, excluding interest, on Chennai-based information technology and telecom products firm Redington (India) Ltd.The demand, based on the directive from transfer pricing officer pertains to "imputed profit...
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Income Tax |
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Gujarat Assembly passes new Lokayukta Bill
Posted Date : 03-Apr-2013 , 08:10:13 am | Posted By CASANSAAR
The controversial new Gujarat Lokayukta Bill, which curtails the primacy of the Governor and Chief Justice of the High Court in appointment of the anti-corruption ombudsman, was on Tuesday passed by the Assembly amid protests from the opposition Congress.
Congress dubbed the Gujarat Lok...
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General |
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Mukesh Ambani's 4G arm Reliance Jio inks Rs 1,200 crore pact with Anil Ambani's RCom
Posted Date : 02-Apr-2013 , 04:11:18 pm | Posted By CASANSAAR
Billionaire Ambani brothers on Tuesday struck a Rs 1,200-crore deal wherein Mukesh will use his younger sibling's optic fibre network for launch of his telecom venture.Under the pact, Mukesh Ambani-led Reliance Industries' telecom arm will hire nationwide optical fibre network of Reliance Commu...
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Shares & Stock |
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RBI relaxes norms for core investment companies to invest in insurance biz
Posted Date : 02-Apr-2013 , 08:17:31 am | Posted By CASANSAAR
The Reserve Bank of India has allowed core investment companies or CICs to set up a joint venture company for undertaking insurance business with risk participation, subject to safeguards. Besides a minimum net worth of Rs 500 crore and a satisfactory track record, the ...
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RBI |
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