RBI committee suggests changes in accounting of central bank balance sheet
Posted Date : 05-Jun-2013 , 09:30:53 pm | Posted By CASANSAAR
An RBI appointed technicalcommittee has recommended that the central bank's repo transactions be treated as lendings and borrowings and not as investments. This could address the fluctuation in accounts due to change in bond prices. The committee headed by Y H Malegam to review t...
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RBI |
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File TDS on time or be ready to cough up Rs. 1 lakh
Posted Date : 05-Jun-2013 , 07:28:39 pm | Posted By CASANSAAR
Failure to deposit timely and correct Tax Deducted at Source (TDS) or Tax Collected at Source (TCS) will now attract a penalty ranging from Rs. 200 to Rs. 1,00,000 by the Income Tax department.
All the TDS range offices of the department across the country have been asked by the...
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Income Tax |
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0 | Hits : 1940
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Sebi acts against promoters, directors of 105 firms
Posted Date : 05-Jun-2013 , 02:42:36 pm | Posted By CASANSAAR
Cracking the whip on the promoters of over 100 private sector companies having failed to attain minimum 25 per cent public holding, Sebi today ordered freezing their voting rights and corporate benefits and barred them from holding any new position on boards of listed firms.
The promoters and direc...
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SEBI |
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ICAI initiates probe against Reebok ex-CFO Vishnu Bhagat
Posted Date : 05-Jun-2013 , 01:51:37 pm | Posted By CASANSAAR
ICAI has launched an enquiry against Reebok India’s former Chief Financial Officer Vishnu Bhagat over his role in the alleged multi-crore fraud in the Indian unit of global sportswear major.
“We have initiated an enquiry on our member… who was a key managerial person (CFO...
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Income Tax |
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Police rescue CA student confined inside house for more than five years
Posted Date : 05-Jun-2013 , 09:24:54 am | Posted By CASANSAAR
A 35 year old chartered accountancy student, who was confined inside her Malleshwaram residence for more than five years, was on Tuesday rescued by police after health minister UT Khader visited her. Assisted by doctors, Hemavathi Renukappa was shifted to ...
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Students Zone |
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ICAI seeks details on Nokia tax issue from income tax department
Posted Date : 05-Jun-2013 , 08:53:35 am | Posted By CASANSAAR
Accounting regulator ICAItoday said it has sought details from the director general income tax (investigation), which is probing the alleged Rs 2,080 crore tax evasion by the finnish mobile maker Nokia. After it received the details on the case, the Institute of Chartered Accountants&...
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Income Tax |
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ED slaps Rs.8,600-cr penalty notice on Emaar MGF
Posted Date : 05-Jun-2013 , 08:25:20 am | Posted By CASANSAAR
The Enforcement Directorate has issued a show-cause notice to construction major Emaar MGF Land Limited for alleged violation of the Foreign Exchange Management Act (FEMA) worth about Rs.8,600 crore by false representation on utilisation of foreign direct investment (FDI).
FOREX RULE VIOLATION
&...
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Income Tax |
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Cabinet approves Vodafone conciliation on tax demand
Posted Date : 04-Jun-2013 , 07:45:19 pm | Posted By CASANSAAR
The Union Cabinet today approved a proposal for conciliation with British telecom company Vodafone on their Rs 14,000-crore tax dispute.
Officials said conciliation will pave way for amendments to theIncome Tax Act. This will be needed to have a uniform law for all companie...
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Income Tax |
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DoT slaps Rs 1,263cr fine on Vodafone for under reporting revenues
Posted Date : 04-Jun-2013 , 12:16:40 pm | Posted By CASANSAAR
The telecoms department has issued a demand notice to Vodafone asking the Indian arm of the world's largest mobile phone company to pay up Rs 1,263 crore for reporting lower than earned revenue during 2008-09 and 2010-11. People aware of the development told ETthat the telecoms depart...
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Finance |
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Income tax Department has released e-Filing Utility for ITR- 3 for A.Y.2013-14 / F.Y.2012-13
Posted Date : 04-Jun-2013 , 09:57:38 am | Posted By CASANSAAR
Income tax Department has releasede-Filing Utility for ITR- 3 for A.Y. 2013-14 / F. Y. 2012-13.
To Whom it is Applicable
ITR 3 for AY 2013-14 is to be used by an individual or an Hindu Undivided Family who is a partner in a firm and where incom...
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Income Tax |
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Companies, political parties to give 'other income' details in I-T returns
Posted Date : 04-Jun-2013 , 08:29:40 am | Posted By CASANSAAR
After asking individual taxpayers to declare their assets and liabilities in the new Income Tax Return (ITR) forms, the finance ministry will now tell companies, firms, trusts, as well as political parties, to give more disclosures in the ITR forms to be notified soon for the 201...
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Income Tax |
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0 | Hits : 811
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Punjab rolls out new industrial policy, offers tax incentives
Posted Date : 04-Jun-2013 , 08:27:57 am | Posted By CASANSAAR
In a bid to attract investments, the Punjab government today announced a new industrial policy, offering tax incentives for manufacturing, agriculture, food processing and IT and electronics hardware sectors, assuring faster clearance to the projects. The SAD-BJP led state government also annou...
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VAT |
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Download CMA's Exam Admit Card for JUNE-2013 Term Examination
Posted Date : 03-Jun-2013 , 07:29:29 pm | Posted By CASANSAAR
Students can download online Admit Card for June - 2013 Term Examination by clicking on the link below.
Admit Card for JUNE-2013 Term Examination
In case of a probelm contact email : exam.helpdesk@icmai.in
Help line numb...
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Students Zone |
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Political parties come under RTI Act, rules CIC
Posted Date : 03-Jun-2013 , 05:41:21 pm | Posted By CASANSAAR
In a landmark decision, the Chief Information Commissioner has ruled that all political parties come under the ambit of the Right to Information Act. The ruling provides for greater transparency in the working of the political parties as now the public has the right to get information about their fu...
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General |
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Taxman to put salary slips of top executives under scanner for TDS
Posted Date : 03-Jun-2013 , 05:22:42 pm | Posted By CASANSAAR
Income Tax department has decided to scan the salary structure of top executives of large corporates and PSUs to examine hidden tax opportunities in the perks and reimbursements made to them.
The department, during its recent deliberations with top I-T and CBDT officials here, decided to st...
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Income Tax |
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RBI clarifies rules for new bank licences
Posted Date : 03-Jun-2013 , 05:19:09 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) said on Monday in a clarification to queries on new bank licences that the validity of in-principle approval for new banks has been extended to 18 months from one year. RBI issued guidelines in February allowing any type of company to set...
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RBI |
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FM asks I-T to avoid raids
Posted Date : 03-Jun-2013 , 12:39:04 pm | Posted By CASANSAAR
With the corporate sector, especially multinational firms, flagging off concerns over an aggressive tax department, Finance Minister P Chidambaram has asked officials to tread cautiously while chasing tax evaders and avoid raids as long as possible.Chidambaram, who has assured fo...
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Income Tax |
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0 | Hits : 650
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ICAI raises concern over higher limit for bank branch audits
Posted Date : 03-Jun-2013 , 08:36:31 am | Posted By CASANSAAR
Accounting watchdog ICAI has raised concerns over higher threshold limit for bank branches with regard to mandatory audit of their books, asserting that many more of them would be out of the auditing purview. It is seeking the lowering of the limit. "The threshold limit for annual sta...
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ICAI |
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MCA to companies: Declare public fund raising in compliance to Sebi, RBI norms
Posted Date : 03-Jun-2013 , 08:31:18 am | Posted By CASANSAAR
In the wake of huge public money being raised through various ponzi schemes, the government has made it mandatory for new companies to give declarations that no funds would be collected without meeting the applicable norms of Sebi, RBI and other authorities.
Such declarations w...
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Corporate Law |
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Four CA institute staff booked for student
Posted Date : 02-Jun-2013 , 01:51:34 pm | Posted By CASANSAAR
The Penamaluru Police booked a case against Superwhizz CA Coaching Institute management in connection with the suspicious death of a student, Y.V. Harshavardhan Reddy (20).
He reportedly died by jumping from the college building on Friday.
The police registered case against Superwh...
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Students Zone |
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ICAI seeks info on companies being probed for fraud schemes
Posted Date : 02-Jun-2013 , 01:19:29 pm | Posted By CASANSAAR
To ascertain whether there have been any auditing lapses, accounting watchdogInstitute of Chartered Accountants of India (ICAI) has sought information from serious fraud investigation office (SFIO) on more than 50 companies that are being probed for duping investors through fraudulent...
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ICAI |
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Deadline for banks to allot unique ID to customers extended
Posted Date : 02-Jun-2013 , 01:15:06 pm | Posted By CASANSAAR
The Reserve Bank has extended the deadline for banks to complete the process of allotting a unique customer identification code to their customers, to March 31, 2014.
Banks, however, will have to allot the unique customer identification code (UCIC) to all customers while entering ...
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Banking |
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Property sellers without PAN face 20% tax hit
Posted Date : 02-Jun-2013 , 08:53:02 am | Posted By CASANSAAR
Those selling immovable property without disclosing their permanent account number ( PAN) are in for a tough time with the government mandating a 20% tax deduction at source (TDS) in such transactions. The new rules that came into effect from Saturday require buyers of immovable property, ...
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Income Tax |
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0 | Hits : 1031
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Narayana Murthy back as Infosys executive chairman
Posted Date : 01-Jun-2013 , 04:40:54 pm | Posted By CASANSAAR
Infosys Ltd. announced on Saturday that its board has appointed founder N.R. Narayana Murthy as Chairman. The decision, taken at a meeting of the board is with immediate effect. The company’s annual general meeting (AGM), scheduled for June 15 is expected to ratify the decision.
The r...
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General |
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0 | Hits : 705
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Girl cracks IIT but fails in CBSE exam. Court tells board to recheck Papers
Posted Date : 01-Jun-2013 , 03:50:50 pm | Posted By CASANSAAR
The joy of clearing the IIT entrance exams quickly turned sour for Livleen Kaur when she saw her CBSE results. The 18-year-old was stunned to see that she had failed in three papers - physics, mathematics and biology. What's even more surprising is that two of the subjects - physics a...
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General |
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0 | Hits : 1432
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NIRC are Organising Convocation for non NCR Members at Chandigarh
Posted Date : 01-Jun-2013 , 08:55:26 am | Posted By CASANSAAR
The Northern Regional Office of ICAI is arranging Convocation – 2013 on 8th June, 2013 for the Non NCR Members enrolled during the month of March, 2012 to August, 2012. Scripts of Certificate of Membership and Certificate of Practice will be distributed in the presence of ...
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ICAI |
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0 | Hits : 1217
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IRS officer Sudha Sharma is new CBDT chief
Posted Date : 01-Jun-2013 , 08:29:37 am | Posted By CASANSAAR
Senior IRS officer Sudha Sharma has been appointed as the new Chairperson of the Central Board of Direct Taxes in the Finance Ministry.
The orders were issued late today by the ministry, official sources said. The board, also the administrative authority of the Income Tax department, is...
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Income Tax |
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0 | Hits : 740
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Petrol prices hiked by 75p/ltr; diesel up 50p/ltr
Posted Date : 31-May-2013 , 08:58:19 pm | Posted By CASANSAAR
Petrol price was today hiked by 75 paisa per litre and diesel by 50 paisa a litre as rupee hit 11-month low making oil imports costlier.
The increase in rates, which are excluding local sales tax or VAT, will be effective from midnight tonight, Indian Oil Corp, the nation's largest o...
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General |
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0 | Hits : 666
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Nokia's appeal against Rs. 2,080 crore tax demand dismissed
Posted Date : 31-May-2013 , 08:05:05 pm | Posted By CASANSAAR
Indian authorities have dismissed Nokia's appeals against an income tax bill of Rs. 2,080 crore, the phone company said on Friday, a setback for its efforts to resolve the dispute in a crucial market.
Nokia's India unit was served in March with the tax demand for five years starting from ...
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Category :
Income Tax |
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0 | Hits : 747
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Government Approves Eight (8 ) Proposals of Foreign Direct Investment Amounting to About Rs. 696.23 Crore
Posted Date : 31-May-2013 , 07:10:17 pm | Posted By CASANSAAR
Details of Proposals considered in the Foreign Investment Promotion Board (FIPB) Meeting held on 12.04.2013
Following eight (8) proposals&...
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International Business |
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