Service tax defaulters to pay dues sans penalty?
Posted Date : 21-Jun-2013 , 07:56:52 pm | Posted By CASANSAAR
The service tax department of the Government of India is coming up with a one-time amnesty scheme called Voluntary Compliance Encouragement Scheme (VCES), to benefit service tax defaulters from July this year.
In this scheme, the professionals will have to pay their due without any penalty or...
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Service Tax |
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Last date for payment of Annual Membership Fee and steps for Online Payment - ICSI
Posted Date : 21-Jun-2013 , 07:33:57 pm | Posted By CASANSAAR
The Annual Membership fee/Certificate of Practice fee for the year 2013-14 became due for payment w.e.f. 1st April, 2013 and the last date for payment of the same is 30th June, 2013.We wish to inform you that the Annual Membership fee and Certificate of Practice fee payable is as under:-(i...
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ICSI |
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0 | Hits : 1291
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Whom did the Indian rupee hurt, whom did it heal?
Posted Date : 21-Jun-2013 , 06:19:27 pm | Posted By CASANSAAR
The Indian rupee’s free fall would see both gainers and losers among Indian companies, depending on their business model, foreign debt vis-a-vis earnings and hedging strategies.
For instance, according to a Bank of America Merrill Lynch report, rupee depreciation is a positive for ea...
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General |
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Sebi makes certification mandatory for 'associated persons'
Posted Date : 21-Jun-2013 , 08:16:04 am | Posted By CASANSAAR
Market regulator Sebi (Securities and Exchange Board of India) has notified guidelines for investment advisers and their 'associated persons', making it compulsory for them to get requisite certifications to operate in the stock markets.
The investment advisers and their associated persons,...
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SEBI |
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Indian money in Swiss banks dips to record low at Rs. 9,000 Cr
Posted Date : 20-Jun-2013 , 06:14:41 pm | Posted By CASANSAAR
Deposits by Indians in Swiss banks have fallen to a record low level of about Rs. 9,000 crore (1.42 billion Swiss francs) as a global clampdown against the famed secrecy wall of Switzerland banking system made it unattractive for their global clients.
The total funds held by Indian indivi...
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International Business |
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Rupee hits life-time low, Government steps in
Posted Date : 20-Jun-2013 , 06:05:33 pm | Posted By CASANSAAR
The Indian rupee slumped to another record low of 59.93 against the dollar on Thursday, after the US Federal Reserve signalled an end to its monetary stimulus that would help in further strengthening of the greenback.
The partially convertible rupee opened sharply lower and hit the record l...
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Income Tax |
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0 | Hits : 847
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Sebi to auction Rs 42,022 crore government bonds for foreign investors
Posted Date : 20-Jun-2013 , 06:17:15 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) will conduct on Thursday an auction for grant of investment limits to foreign investors in government debt securities worth over Rs. 42,000 crore - the biggest sale of G-Secs so far this year.
It would be first auction for debt securities ...
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SEBI |
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Food from McDonalds, Dominoes & Pizza Hut to get cheaper as FinMin may cut service tax on takeaway, home-delivery
Posted Date : 20-Jun-2013 , 05:50:08 am | Posted By CASANSAAR
The finance ministry may soon clarify that takeaway and home delivery of food will not attract service tax, a move that will be welcomed by the likes of McDonalds, Dominoes and Pizza Hut."The ministry is examining the issue. There is a strong view that takeaways and home deliveries should ...
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Service Tax |
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Finance Ministry to notify Commodity Transaction Tax soon
Posted Date : 20-Jun-2013 , 05:47:37 am | Posted By CASANSAAR
Finance Ministry will soon notify implementation of Commodity Transaction Tax (CTT) which will be levied primarily on processed agricultural commodities, including sugar, soya oil and mentha oil. About 11 processed farm commodities would attract CTT, which will be levied at the r...
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Finance |
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0 | Hits : 782
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Government Approves 1 Proposal of Foreign Direct Investment Amounting to About Rs.7.00 Crore
Posted Date : 19-Jun-2013 , 10:13:26 pm | Posted By CASANSAAR
Further to para 5 of the Press Release dated May 31, 2013, wherein it was stated that decision of the 2 (Two) proposals will be communicated separately, Government has approved 1 Proposal of Foreign Direct Investment amounting to Rs. 7.00 crore approximately.
...
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Finance |
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0 | Hits : 704
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E-filing of tax returns made simple
Posted Date : 19-Jun-2013 , 08:32:53 am | Posted By CASANSAAR
As July 31 - the last date for filing your incometax returns - approaches, it's time to brace yourself for the annual ritual. However, this year, you will not have the luxury of simply gathering all the relevant documents and handing them over to your tax consultant. You will have to adopt a mo...
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Category :
Income Tax |
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ISKCON Mumbai misused audit reports of ISKCON Bangalore - ICAI
Posted Date : 19-Jun-2013 , 08:26:54 am | Posted By CASANSAAR
In what could be a setback to Mumbai ISKCON's legal fight with Bangalore ISKCON over ownership, Institute of Chartered Accountants of India (ICAI) in its recent report observed that Mumbai ISKCON has misused and misinterpreted the audit reports of BangaloreISKCON, while...
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Income Tax |
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0 | Hits : 1245
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Long-term liability key to improve funding gap in India's banking system
Posted Date : 19-Jun-2013 , 08:23:40 am | Posted By CASANSAAR
Structural imbalances in the Indian bankingsystem's funding structure are diluting monetary policy transmission, crowding out corporates from money market and discouraging long-term savings in the economy. Banks' growing dependence on short-term deposits to fund an incr...
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Banking |
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0 | Hits : 667
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Couples who have premarital sex to be considered MARRIED, says HC
Posted Date : 18-Jun-2013 , 04:41:03 pm | Posted By CASANSAAR
If any unmarried couple of the right legal age “indulge in sexual gratification,” this will be considered a valid marriage and they could be termed “husband and wife,” the Madras High Court has ruled in a judgment that gives a new twist to the concept of premarital sex.
&nbs...
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General |
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Government Approves 16 Proposals of Foreign Direct Investment Amounting to About Rs.1646.875 Crore
Posted Date : 18-Jun-2013 , 04:35:22 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on May 10, 2013, the Central Government has approved sixteen (16) proposals of Foreign Direct Investment (FDI) amounting toRs.1646.875cr...
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Finance |
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Memorandum to the President of ICAI on some of the issues challenging the Profession
Posted Date : 18-Jun-2013 , 01:50:56 pm | Posted By CASANSAAR
Respected Sir,
It is a matter of great pleasure for all of us that you are visiting our Faridabad Branch on 19th June, 2013. We are eagerly waiting for the day, for having a live interaction with you. Being unsure, whether Branch Chairman will permit us to give you this memorandum in person...
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ICAI |
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13 | Hits : 2763
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ICSI ties-up with NISM, IIBF
Posted Date : 18-Jun-2013 , 08:43:27 am | Posted By CASANSAAR
The Company Secretaries Institute and the National Institute of Securities Markets (NISM) have come together for the joint promotion of corporate and securities market governance.
Both the institutes’ have signed a Memorandum of Understanding (MoU) for this purpose.
"We want ...
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ICSI |
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0 | Hits : 1070
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E-filing of audit reports must with tax returns
Posted Date : 18-Jun-2013 , 08:35:27 am | Posted By CASANSAAR
The new income-tax forms notified by the government have made it mandatory for many assessees to file their audit reports in the electronic mode at the time of filing tax returns.
“(The) list of audit reports required to be furnished with return of income has been expanded. As ...
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Category :
Income Tax |
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0 | Hits : 2721
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Cabinet reshuffle: Eight new Ministers sworn in
Posted Date : 17-Jun-2013 , 06:07:53 pm | Posted By CASANSAAR
Eight new faces have been inducted into the Union Council of Ministers on Monday, with Sisram Ola and Oscar Fernandes making a re-entry after a gap of four years.
Mr. Ola, along with Girija Vyas and K.S. Rao, have been inducted as Cabinet Ministers.
The Ministers of State are Manik...
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Category :
Income Tax |
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RBI keeps interest rate, CRR unchanged
Posted Date : 17-Jun-2013 , 05:32:38 pm | Posted By CASANSAAR
Reserve Bank on Monday kept the key interest rates unchanged citing elevated food inflation, rupee depreciation and uncertainty over foreign fund inflows.
The repo rate at which the RBI lends to the system has been retained at 7.25 per cent, while the cash reserve ratio will continue to be ...
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RBI |
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Foreign companies may not need FIPB nod for minority stake in Indian arms; govt to raise FDI cap
Posted Date : 17-Jun-2013 , 08:48:03 am | Posted By CASANSAAR
Foreign companies may not need government approval to hold up to 49% equity in Indian arms in most sectors, with theManmohan Singh administration planning an overhaul of the foreign investment regime to attract overseas capital.A senior official said the government was considering raising the m...
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Category :
Income Tax |
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0 | Hits : 712
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Sebi finalising new anti-money laundering guidelines
Posted Date : 16-Jun-2013 , 07:08:53 pm | Posted By CASANSAAR
Regulator Sebi is finalising new Anti-Money Laundering guidelines covering entities such as brokers and mutual funds to put in place stronger checks against possible cleansing of funds through capital markets. The guidelines, expected to be ready within a few weeks...
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Income Tax |
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0 | Hits : 703
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May not be mandatory to post paper copy of I-T e-filings: CBDT
Posted Date : 16-Jun-2013 , 05:28:50 pm | Posted By CASANSAAR
Millions of taxpayers filing electronic I-T returns will soon get relief from sending by post the mandatory paper verification form as the CBDT has decided to soon stop this practice. The Central Board of Direct Taxes (CBDT), administrative authority of the Income Tax d...
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Income Tax |
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Govt gets data on investments by Indians in tax havens
Posted Date : 16-Jun-2013 , 09:21:39 am | Posted By CASANSAAR
The Indian government has obtained data of investments made by hundreds of Indians in tax havens such as the British Virgin Islands, the Cook Islands and Cayman Islands, some of which was part of a global media expose on offshore investments and secret financial transactions two months ago.
...
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International Business |
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0 | Hits : 766
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Petrol price hiked by Rs 2 per litre
Posted Date : 15-Jun-2013 , 10:59:08 pm | Posted By CASANSAAR
Petrol price was on Saturday hiked by a steep Rs 2 a litre, the second increase in rates this month, as devaluation of rupee against US dollar made imports costlier.
The hike, which is effective from midnight tonight, is excluding local sales tax or VAT and actual increase for consumers will b...
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General |
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0 | Hits : 632
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Bansal
Posted Date : 15-Jun-2013 , 05:40:10 pm | Posted By CASANSAAR
Former railway minister Pawan Kumar Bansal's personal secretary Rahul Bhandari is facing a probe by the Punjab government for a Rs 97.5-lakh flat in Noida which he bought last year after taking a 'hefty loan' from Bansal's chartered accountant Sunil Gupta. A Punjab cadre IAS offi...
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General |
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0 | Hits : 809
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Non-banking companies may hire 70,000 bank job aspirants
Posted Date : 15-Jun-2013 , 07:29:38 am | Posted By CASANSAAR
About 70,000 candidates shortlisted by the country's banking selection institute but still waiting for bank jobs may be absorbed by non-banking entities, which are planning to tap this ready pool of job seekersto avoid a lengthy and costly process ofhiring. The Institute of Banking Pe...
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Category :
Income Tax |
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0 | Hits : 1300
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India Inc foreign acquisitions can't be taxed locally, rules tribunal
Posted Date : 15-Jun-2013 , 07:24:39 am | Posted By CASANSAAR
A recent ruling by the Hyderabad income tax tribunal regarding taxation norms of Indian companies investing in their foreign counterparts has come as a big boost to India Inc's arguements. The corporate world has been trying to prove a point, debating, that transfer pricing rules...
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Category :
Income Tax |
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0 | Hits : 704
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Sebi notifies norms for listing of preference shares
Posted Date : 15-Jun-2013 , 07:22:53 am | Posted By CASANSAAR
Market regulator Sebi has notified a new set of regulations to govern issuance and listing of non-convertible preference shares, a move expected to bring more transparency in raising of funds through such securities. To safeguard the interest of small investors from such high-risk sec...
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Category :
Income Tax |
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0 | Hits : 701
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MNCs seek advance ruling to avoid tax rows
Posted Date : 15-Jun-2013 , 07:15:37 am | Posted By CASANSAAR
When Anglo-Dutch energy major Shell BV infused additional capital into its Indian arm Shell India by way of equity, it did not expect Shell India to be hit by a Rs 5,000-crore demand from the Income-Tax Department in India.
Indian taxmen had argued that the Indian company had undervalued it...
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Income Tax |
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0 | Hits : 642
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