Irda allows banks to act as insurance brokers
Posted Date : 09-Aug-2013 , 09:38:02 pm | Posted By CASANSAAR
Insurance regulator Irda has allowed banks to act as brokers and sell products of more than one insurer so as to increase the penetration of the sector across the country. There is no capital requirement for insurance broking business carried out by banks, according to Irda (Licencing...
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Banking |
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Cabinet approves setting up of all-women bank
Posted Date : 09-Aug-2013 , 05:32:26 pm | Posted By CASANSAAR
Paving the way for setting up of all-women bank , the government on Thursday approved Rs 1,000-crore seed capital for Bhartiya Mahila Bank Ltd.
The Cabinet cleared setting up of all-women bank, sources said.
Earlier this week, Minister of State for Finance Namo Narain Meena had said in a...
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Banking |
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Sebi notifies buyback norms; cos must repurchase at least 50%
Posted Date : 09-Aug-2013 , 08:40:55 am | Posted By CASANSAAR
The norms aim at safeguarding the interest of public shareholders.
The companies will now have to complete their buyback offers within six months, from 12 months currently. Those not able to meet the target will be barred from launching another offer for a period of one year.
The Securitie...
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SEBI |
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Much-awaited Companies Bill passed by Parliament
Posted Date : 08-Aug-2013 , 08:06:10 pm | Posted By CASANSAAR
The Rajya Sabha today approved the much awaited new Companies Bill, making it mandatory for profit making companies to spend on activities related to Corporate Social Responsibility (CSR). In case, a company is not doing so, it will have to explain the reasons for shortfall.
The Bill...
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Corporate Law |
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0 | Hits : 1950
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Finance Minister Releases FAQ on Service Tax VCES
Posted Date : 08-Aug-2013 , 07:20:35 pm | Posted By CASANSAAR
Union Finance Minister Shri. P. Chidambaram released a booklet containing Frequently Asked Questions (FAQ) on Service Tax Voluntary Compliance Encouragement Scheme, 2013 in New Delhi today in the presence of Revenue Secretary, Chairperson and other members of Central Board of Excise & Customs an...
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Service Tax |
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CCI imposes penalty of Rs . 6.25 crores on 11 Shoe Companies
Posted Date : 08-Aug-2013 , 05:46:24 pm | Posted By CASANSAAR
The Competition Commission of India (CCI) has imposed a penalty of Rs. 625.43 Lakhs on 11 Companies in a case filed by Director General-Supplies & Disposal (DGS&D), New Delhi relating to a tender for supply of polyester blended duck ankle boots rubber sole. CCI found these 11 Companies to ha...
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Corporate Law |
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0 | Hits : 686
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Ten things you wanted to know about the new Companies Bill
Posted Date : 08-Aug-2013 , 04:36:45 pm | Posted By CASANSAAR
The Companies Bill 2012 has been tabled in the Rajya Sabha and is expected to be passed in the monsoon session. Business Standard brings you some key facts you need to know about the bill.
Why do we need a new company law?
When the existing company law - The Companies Act, 1956 was ...
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Corporate Law |
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0 | Hits : 2763
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Owners of Micromax Mobiles arrested in bribery case
Posted Date : 08-Aug-2013 , 02:00:47 pm | Posted By CASANSAAR
The Central Bureau of Investigation (CBI) on Wednesday arrested the co-founder and managing director ofMicromax Informatics, Rajesh Agarwal, and partner Manish Tuli, catching them red-handed in a bribery case. A CBI spokesperson said Agarwal and Tuli were caught paying Rs 30 lakh...
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Income Tax |
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0 | Hits : 1213
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Missed the August 5 deadline? You can still file your income tax returns
Posted Date : 08-Aug-2013 , 08:35:30 am | Posted By CASANSAAR
The last date to file income-tax returns is gone. Okay, the government last week had extended the deadline by a week from July 31 to August 5. As usual, there are many taxpayers who couldn't meet the deadline this year, too. Of course, they also list the usual reasons for not filing return...
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Income Tax |
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0 | Hits : 1667
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Floor and ceiling rates suggested for Goods & Services Tax
Posted Date : 08-Aug-2013 , 08:29:23 am | Posted By CASANSAAR
Parliament’s standing committee on finance has suggested a floor rate and ceiling in the proposed Goods and Services Tax (GST) and making it optional for states to introduce indirect tax reforms. This will lead to multiple tax rates in GST, while the government’s original inten...
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GST |
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Overwhelming Response to e-Filing of Itr: 123.03 Lakh Returns e-Filed till 5th August
Posted Date : 07-Aug-2013 , 08:53:53 pm | Posted By CASANSAAR
The due date for filing of Income Tax Return for Individuals, HUFs and non-auditable cases for A.Y. 2013-14 was extended by the Central Board of Direct Taxes (CBDT) from 31st July to 5th August, 2013 as there was an overwhelming response to e-filing from every corner of the country.
123.03...
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Income Tax |
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0 | Hits : 861
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Foreign donations above Rs 1 crore under tax scanner
Posted Date : 07-Aug-2013 , 06:51:14 am | Posted By CASANSAAR
All foreign donations above Rs 1 crore will now come under the scrutiny of the Income Tax department. The Central Board of Direct Taxes (CBDT) has issued new directives for selection of scrutiny cases during the financial year 2013-14 by the taxman which also includes b...
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Income Tax |
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0 | Hits : 823
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Raghuram Rajan appointed as next RBI Governor for three years, to succeed Subbarao
Posted Date : 06-Aug-2013 , 10:55:37 pm | Posted By CASANSAAR
Raghuram Rajan, currently the Chief Economic Advisor to the government of India was on Tuesday appointed the Reserve Bank of India's (RBI) governor for three years.Rajan will replace D Subbarao, who completes his five-year term on September 4, and will be the 23rd Governor of the central bank."Prime...
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RBI |
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Central Government Approves Twelve (12) Proposals of Foreign Direct Investment Amounting to about Rs. 343.99 Crore
Posted Date : 06-Aug-2013 , 10:42:42 pm | Posted By CASANSAAR
Based on the recommendations of the Foreign Investment Promotion Board (FIPB) in its meeting held on July 5, 2013, the Central Government has approved twelve (12) Proposals of Foreign Direct Investment amounting to ...
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International Business |
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0 | Hits : 723
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Tax defaulters not depositing TDS to be prosecuted
Posted Date : 06-Aug-2013 , 03:34:21 pm | Posted By CASANSAAR
The Income Tax (I-T) department today warned that non-payment of Tax Deducted at Source (TDS) to the government could lead to prosecution.
“It has come to the notice of I-T department that many times the tax deductors, after deducting TDS from specified payments, are deliberately no...
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Category :
Income Tax |
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0 | Hits : 1296
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ICAI launches Accountancy Museum
Posted Date : 06-Aug-2013 , 07:49:09 am | Posted By CASANSAAR
It has huge collection of coins & carvings of Vedic period which defines accountancy culture in India.
The Institute of Chartered Accountancy in India (ICAI) Indore branch launched the first ever accountancy museum of Indore on Saturday. The museum includes all the archival data on char...
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ICAI |
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Government investigating complaints of financial fraud against 154 companies
Posted Date : 06-Aug-2013 , 07:43:17 am | Posted By CASANSAAR
The government is looking into complaints of financial fraud against 154 companies, including those connected withSaradha Group and Rose Valley Group, Parliament was informed on Monday. "Complaints have been received against 154 companies/organisations during the last three years," corpora...
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Corporate Law |
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0 | Hits : 900
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Govt likely to ban trading of e-series contracts on NSEL
Posted Date : 06-Aug-2013 , 07:41:22 am | Posted By CASANSAAR
The government is expected to ban trading in e-series contracts on the National Spot Exchange Ltd (NSEL), the only contracts being traded on the platform.
On the NSEL platform under e-series contracts, retail investors can buy and sell commodities in demat form. This is a unique market segm...
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Shares & Stock |
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0 | Hits : 730
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Sleuths make first arrest of service tax defaulter
Posted Date : 06-Aug-2013 , 07:37:21 am | Posted By CASANSAAR
The first arrest of a service tax defaulter in the country has been made after government got the powers recently to crack the whip on evaders. A courier company owner was arrested for allegedly evading service tax of about Rs 70 lakh in the first such case after Finance Minister...
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Service Tax |
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0 | Hits : 950
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15 months training with Law Firms, Consultancy Firms, Financial Institutions - ICSI
Posted Date : 05-Aug-2013 , 07:33:57 pm | Posted By CASANSAAR
The Council of the Institute has approved the following decisions pertaining to training of the students of the Company Secretaryship Course.:
A) 15 months training with Law Firms, Consultancy Firms, Financial Institutions
The Council of the Institute has allowed imp...
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Students Zone |
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0 | Hits : 1385
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Income-tax department gets more teeth to conduct Special Audit
Posted Date : 05-Aug-2013 , 08:44:19 am | Posted By CASANSAAR
When DLF Commercial Projects Corporation - a partnership firm in which India's largest real estate firm, DLF, held 74% - filed its income-tax returns in September 2009, declaring a loss of 20.1 crore, the assessing officer could not understand certain transactions. One such transaction was...
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Category :
Income Tax |
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One-third of over 13 lakh registered Companies in India inactive
Posted Date : 05-Aug-2013 , 08:16:31 am | Posted By CASANSAAR
The country might have more than 13 lakh registered companies but over one-third of them are either inactive or closed.
With increasing business activities, the count of new companies is on the rise with as many as 1.5 lakh firms getting registered in one-and-a-half years, ac...
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Corporate Law |
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0 | Hits : 883
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RBI's liquidity tightening threatens to take toll on banks' asset quality
Posted Date : 05-Aug-2013 , 08:11:51 am | Posted By CASANSAAR
The Reserve Bank of India's recent liquidity tightening measures, which threaten to take a fresh toll on banks' asset quality, come at a time when commercial banks led by the public sector brigade were beginning to see visible results in their crack down on runaway non-performing loans.
For...
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RBI |
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Income tax e-filing: cyber criminals trying to steal financial data
Posted Date : 04-Aug-2013 , 05:46:56 pm | Posted By CASANSAAR
As income tax e-filing picks up pace due to last minute rush, are busy using phishing e-mails and fake ads to steal confidential financial data of users, cyber security firm McAfee said on Sunday.
Cyber criminals try to take advantage of the rush during the last days of e-filing as tax payers...
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Category :
Income Tax |
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1 | Hits : 943
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E-filing of I-T returns crosses one-crore mark
Posted Date : 04-Aug-2013 , 05:37:13 pm | Posted By CASANSAAR
The e-filing of income taxreturns has crossed the one crore mark with the maximum of such filings done by the salaried class of taxpayers. In a latest data released by the Central Processing Centre (CPC) of the I-T department based in Bangalore, a total of 1,03,21,775 e-returns w...
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Income Tax |
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1 | Hits : 886
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Why you shouldn
Posted Date : 03-Aug-2013 , 08:50:31 am | Posted By CASANSAAR
The income tax law sets out two deadlines for filing your returns in the financial year just gone by: 31 July is the default date; 30 September is the last date for companies and all others who need to get their accounts audited. The Central Board of Direct Taxes (CBDT) has extended the last date fo...
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Income Tax |
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3 | Hits : 1875
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Sebi bars SMC Global from taking up new assignment for 3 months
Posted Date : 03-Aug-2013 , 08:48:33 am | Posted By CASANSAAR
Market watchdog Sebi today barred SMC Global Securities Ltd from taking up any new assignment for three months for violations related to reporting of margin and delay in collection of dues from trading members. The Securities and Exchange Board of India(Sebi), in its order, ...
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SEBI |
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0 | Hits : 801
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Modification in the Scheme for Providing Inspection/Certified Copies of Evaluated Answer Books to the Concerned Examinees
Posted Date : 02-Aug-2013 , 08:34:21 pm | Posted By CASANSAAR
The Council, at its 326th meeting held on 27-29th July 2013 decided that the followingmodifications be made in the existing scheme for providing certified copies/inspection ofevaluated answer books to the examinees:
1. The time limit for preferring an application by an examinee for inspecti...
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Students Zone |
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0 | Hits : 1159
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Creation of the Special National Investment Fund
Posted Date : 02-Aug-2013 , 08:25:45 pm | Posted By CASANSAAR
The Cabinet Committee on Economic Affairs has approved creation of the Special National Investment Fund for the specific objective of meeting the minimum public shareholding of 10 percent requirement in the following six Central Public Sector Enterprises (CPSEs). (i) Andrew Yule & Company L...
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Corporate Law |
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0 | Hits : 672
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5,000 Cos comply with Mandatory Cost Audit: ICAI
Posted Date : 02-Aug-2013 , 07:17:48 am | Posted By CASANSAAR
In the first full year, over 5,000 companies have complied with the Ministry of Company Affairs order on mandatory cost audit.
In May 2011, MCA made cost audit mandatory for manufacturing units in sectors such as cement, tyre, steel, fertiliser, bulk drugs, formulations, sugar, paper, insec...
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ICWAI |
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0 | Hits : 1427
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