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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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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Income Tax |
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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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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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Income Tax |
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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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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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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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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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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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Income Tax |
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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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Income Tax |
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0 | Hits : 713
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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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Income Tax |
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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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Tax scrutiny of multinational companies to increase
Posted Date : 14-Jun-2013 , 08:19:30 am | Posted By CASANSAAR
income-tax (I-T) department has notified a revised form to check for transfer pricing infractions, something that could intensify the scrutiny on their books.The new form explicitly requires companies to disclose specific international transactions even i...
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Income Tax |
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Govt gives Sebi, RBI access to call data records
Posted Date : 14-Jun-2013 , 08:14:16 am | Posted By CASANSAAR
Centre has decided to include Sebiand RBI among the nine agencies which will be authorized to accesss call data records (CDRs).
Sources in the home ministry, which is finalizing the new norms for interception in concert with the department of telecom, said that t...
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SEBI |
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Taxmen slap fresh demand of Rs. 816 crore on Wipro
Posted Date : 13-Jun-2013 , 07:28:55 pm | Posted By CASANSAAR
India's third largest software firm Wipro has been slapped with a claim of over Rs. 816 crore by the tax department, becoming the latest IT company to have got such a notice after Infosys, WNS and iGate.
The Bangalore-headquartered company said the "draft assessme...
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Income Tax |
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ICAI clarification regarding news on Bank Branch Audit Limit.
Posted Date : 13-Jun-2013 , 12:36:52 pm | Posted By CASANSAAR
June 12, 2013
ICAI PRESS RELEASE
The Institute of Chartered Accountants of India (ICAI) woild like to clarify that the present limit for Statutory Bank Branch Audit is still Rs. 20 crore (of advances) and not Rs. 50 crore as being erroneosly reported in some sections of the media. ...
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ICAI |
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I.T.Department released ITR- 4 E Filing Utility for AY 2013-14 / FY 2012-13
Posted Date : 13-Jun-2013 , 10:05:30 am | Posted By CASANSAAR
Income Tax department releases the online return filing software utility in respect of ITR-4 for A.Y. 2013-14 which can be downloaded from www.incometaxindiaefiling.gov.in
Download Income Tax Return (ITR) 4 for assessment year 2013-2014. ITR 4 is applicable to by an individua...
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Income Tax |
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PMO refer the case of ICAI while rejecting RTI on Robert Vadra-DLF Deal
Posted Date : 13-Jun-2013 , 08:33:27 am | Posted By CASANSAAR
The Prime Minister's Office (PMO) has turned down the request of a Lucknow based Right to Information (RTI) activist to provide information in regards with the progress in the case relating to Congress President Sonia Gandhi's son-in-law Robert Vadra's connection with the DLF.
The P...
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General |
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SEBI recommends easing rules for foreign investors
Posted Date : 13-Jun-2013 , 08:29:03 am | Posted By CASANSAAR
A committee set up by the Securities and Exchange Board of India (SEBI) has recommended merging foreign investment in India's stock markets into a single investor class as well easing registration norms for foreign buyers, in a move aimed at appeasing foreign investors.
A panel set up b...
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SEBI |
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In SMS, email age, Telegram service ends July 15
Posted Date : 13-Jun-2013 , 07:58:59 am | Posted By CASANSAAR
Come July 15, one of India’s oldest communication services — the telegram — will become history. Financial constraints have forced the Bharat Sanchar Nigam Ltd to wind up the telegraphic service, which would be remembered mainly as a historically inexpensive but relatively quick me...
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General |
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Finance Ministry Increased Bank Branch Audit Limit to Rs.50 Cr. for Current F.Y.- ICAI President
Posted Date : 12-Jun-2013 , 03:41:31 pm | Posted By CASANSAAR
Union Finance Ministry has raised the audit limit of nationalised bank branch from Rs 20 crore to Rs 50 crore turnover in the current financial year as per Statement of ICAI President Subodh Kumar Agrawal.
He further said, adding ICAI demanded this audit limit be reduced to its original lim...
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Auditing |
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IRCTC to launch SMS-based ticketing service from July 1
Posted Date : 12-Jun-2013 , 11:37:41 am | Posted By CASANSAAR
To tide over the limited Internet penetration and make use of high mobile phone user base in the country, IRCTC will launch SMS-based ticketing service from July 1. It will soon announce a dedicated number for the service.
This methodology will allow you to book tickets from anywhere and an...
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General |
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0 | Hits : 1240
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Bombay HC upholds retro amendment to VAT law
Posted Date : 12-Jun-2013 , 08:03:08 am | Posted By CASANSAAR
The Bombay high court has upheld the constitutional validity of a retrospective amendment to the Maharashtra Value Added Tax Laws, which restricts the VAT incentives available to eligible industrial units, based on prescribed proportionality formula. With thisfavourable orde...
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VAT |
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RBI hikes cap for online repatriation of export proceeds
Posted Date : 12-Jun-2013 , 08:01:38 am | Posted By CASANSAAR
With an aim to arrest rupee slide by boosting forex inflows, RBI today raised the limit for online repatriation of export proceeds by over three-fold to $ 10,000 and made it mandatory for units in Special Economic Zones to repatriate full value of exports with...
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RBI |
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Rupee hits new low at 58.98 against dollar
Posted Date : 11-Jun-2013 , 07:17:46 pm | Posted By CASANSAAR
The Indian rupee fell for the second straight day on Tuesday, slumping to 58.98 against a dollar on continuing worries over current account deficit and increased demand for the US currency from importers.
The partially convertible rupee weakened by 80 paise to hit a new low of 5...
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International Business |
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Man stunned to see Barack Obama's picture on his admit card for engineer's exam, one he did not even apply for
Posted Date : 11-Jun-2013 , 02:13:51 pm | Posted By CASANSAAR
Lalu Lal Meena of Rambas village of Dausa district was shocked to see the picture of Obama on the admit card on his name.
Would US president Barack Obama be interested in a job of junior engineer in India? At least the Staff Selection Commission (SSC) under the Union Ministry of Personn...
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General |
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0 | Hits : 1134
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ICICI, Axis, HDFC Bank fined over Rs. 10 crore for violating KYC norms
Posted Date : 10-Jun-2013 , 06:53:11 pm | Posted By CASANSAAR
The Reserve Bank of India on Monday said it had imposed penalties on Axis Bank, HDFC Bank and ICICI Bank for violating guidelines related to details of customer identity known as "know your customer" rules.
The central bank investigated the banks following an investigation ...
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Banking |
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Direct entry into CA Intermediate (Integrated Professional Competence) Course
Posted Date : 10-Jun-2013 , 12:46:09 pm | Posted By CASANSAAR
It was earlier decided by ICAI to exempt Graduates/Post Graduates with specified percentage of marks andIntermediate level Examination passedstudents of The Cost Accountants of India and The Institute of Company Secretaries of India from passing the Common Proficiency Test (CPT)....
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Students Zone |
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