Invitation for Part-time Project Directors/Project Managers in various Projects of the Accounting Standards Board of the ICAI
Posted Date : 31-May-2013 , 05:18:24 pm | Posted By CASANSAAR
The Accounting Standards Board of the Institute of Chartered Accountants of India undertakes projects involving formulation of specific Accounting Standards/Indian Accounting Standards, Study of the impact of the Accounting Standards/Indian Accounting Standards and alli...
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ICAI |
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RBI tightens loan restructuring norms; raises provision to 5%
Posted Date : 31-May-2013 , 08:08:15 am | Posted By CASANSAAR
Worried over rising NPA, the Reserve Bank today tightened rules forrestructuring of most types of loans in line with global practices. As per the latest RBI notification, provisioning on the newly restructured account has been raised to 5 per cent from June 1 from 2 per cen...
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RBI |
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Companies can announce share-sale via Offer-for-Sale just 1-day in advance: SEBI
Posted Date : 31-May-2013 , 08:03:16 am | Posted By CASANSAAR
With few days left to lower promoter holding to 75 per cent in listed private sector firms, Sebi today allowed them to make an announcement for such sale of shares through OFS route just one day in advance. So far the companies had to announced sale of promoters share to meet the guid...
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SEBI |
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Exposure Draft of Excel Template of Taxonomy for Life Insurance Companies and General Insurance Companies - ICAI
Posted Date : 30-May-2013 , 03:20:54 pm | Posted By CASANSAAR
EXPOSURE DRAFT OF EXCEL TEMPLATE OF TAXONOMY FOR LIFE INSURANCE COMPANIES AND GENERAL INSURANCE COMPANIES
While the filing of the financial statements in XBRL format had begun for certain categories of companies, Insurance Companies were kept outside the purview of XBRL mandate owing to...
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ICAI |
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Tax dept likely to issue notices to over 10 lakh non-filers
Posted Date : 30-May-2013 , 08:02:36 am | Posted By CASANSAAR
Tightening its noose on those who do not pay taxes, the Income Tax Department is likely to issue notices soon to over 10 lakh non-filers.
According to sources, the tax department has prepared a list of non-filers based on their information records.
“Our data analysis shows th...
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Income Tax |
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RBI to auction inflation-indexed bonds worth Rs 1,000 cr on June 4
Posted Date : 30-May-2013 , 07:57:02 am | Posted By CASANSAAR
The Government of India have announced the sale of “New Inflation Indexed Government Stock-2023” for a notified amount of Rs.1,000 crore (nominal) through yield based auction. The auctions will be conducted using uniform price method. The auctions will ...
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RBI |
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Register to act as investment adviser: SEBI
Posted Date : 30-May-2013 , 07:51:02 am | Posted By CASANSAAR
With an aim to weed out unauthorised entities giving advice to investors, market regulator Sebi today said anyone seeking to act as an investment adviser would need to first obtain a certificate of registration for the same. As a part of its efforts to make it convenient for...
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SEBI |
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Government mulls new laws to settle tax disputes with an eye on Vodafone-type cases
Posted Date : 30-May-2013 , 07:44:30 am | Posted By CASANSAAR
The government is examining the possibility of putting in place a formal framework for resolving tax disputes, notably the one with Vodafone, similar to the advance pricing agreements used to resolve transfer pricing cases.While no final decision has been taken, one option is to amend the ...
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Income Tax |
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Guidelines for Appointment of Statutory Auditors in Public Sector Banks wef Financial Year 2013-14
Posted Date : 29-May-2013 , 09:50:13 am | Posted By CASANSAAR
Based on the recommendations of a Working Group (WG) to review the norms for empanelment of statutory auditors for public sector banks and other related issues and after seeking the approval of GoI, it has been decided to revise the guidelines on appointmentof statutory auditors in public secto...
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Auditing |
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2 | Hits : 4108
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Cobrapost sting: Income Tax department issues notices to ICICI, Axis, HDFC banks
Posted Date : 29-May-2013 , 08:02:09 am | Posted By CASANSAAR
Income Tax department has issued notices to three top private lenders in the country - ICICI Bank, Axis Bank and HDFC Bank - in connection with alleged money laundering charges levelled by online portal Cobrapost.
The department has asked these banks to produce documents for verification as...
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Income Tax |
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RBI not to impose ban on gold coin sales by banks: RBI Governor
Posted Date : 29-May-2013 , 08:00:35 am | Posted By CASANSAAR
Ruling out ban on sale of gold coinsby banks, the Reserve Bank today asked lenders to refrain from aggressively selling the precious metal. "We do not want banks to aggressively market gold. We do not want that to become a business," RBI Governor D Subbarao told reporters on the ...
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RBI |
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Tax officials should target those who are not filing returns: FM
Posted Date : 29-May-2013 , 07:57:29 am | Posted By CASANSAAR
Finance minister P Chidambaram has told top income tax officials to keep a close tab on those not filing tax returns and ensure that the tax collection target for the current financial year is met.Inaugurating the annual conference of chief commissioners and director generals of income tax...
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Income Tax |
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0 | Hits : 795
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Goods and services tax (GST) to be in place by 2014: Prime Minister
Posted Date : 29-May-2013 , 07:50:14 am | Posted By CASANSAAR
Prime Minister Manmohan Singh said on Tuesday that the much-awaited goods and services tax (GST) will become a reality by 2014 regardless of who forms the government after the next Lok Sabha elections, even as he counseled the foreign investors to come to terms with pro...
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GST |
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PF set to cover all pay, not just basic pay
Posted Date : 28-May-2013 , 02:36:08 pm | Posted By CASANSAAR
You may end up saving more in the months ahead with the Employees Provident Fund Organization(EPFO) readying to re-notify a new definition of "compensation" that will include all your allowances, amid intense lobbying against the move by industry bodies.
Currently, employ...
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General |
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ICAI invites applications from highly competent candidates for the positions of Secretary, Technical Director, Director (Taxation), Academic & Technical Resources at all levels
Posted Date : 28-May-2013 , 02:26:27 pm | Posted By CASANSAAR
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA(Premier professional body set up by an Act of Parliament)ICAI Bhavan, Indraprastha Marg, Post Box No. 7100, New Delhi 110 002.
Advt. No. ICAI/Rectt./06/2013
ICAI invites applications from highly competent candidates for the positions of...
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ICAI |
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I.T.Department released ITR- 2 E Filing Utility for AY 2013-14 / FY 2012-13
Posted Date : 28-May-2013 , 10:56:06 am | Posted By CASANSAAR
Income tax Department has released e-Filing Utility for ITR- 2 for Assessment year 2013-14 / Financial Year 2012-13. We have placed link for the same as the bottom of the article. We also discussed Who can use this Return Form?,Who cannot use this Return Form?,Manner of filing this Return...
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Income Tax |
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Rs 2.14 crore products seized from Amway godowns in Kerala
Posted Date : 28-May-2013 , 10:15:20 am | Posted By CASANSAAR
The Economic Offences Wing of the Crime Branch, Kozhikode, which arrested the CEO of Amway India and two of its directors on Monday, had also registered cases against Amway India directors Pahlavi Suresh Shraff and Shabdul Suresh Shraff, who reside in New Delhi, based on a complaint filed on Novembe...
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Income Tax |
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MoU Signing Ceremony between the ICAI and Avinashilingam Institute for Home Science and Higher Education for Women at 11.30 A.M on May 28,2013
Posted Date : 28-May-2013 , 08:45:56 am | Posted By CASANSAAR
We would like to inform all the stakeholders that the Institute is signing a Memorandum of Understanding (MoU) with Avinashilingam Institute for Home Science and Higher Education for Women, Coimbatore. The MoU would enable Women Chartered Accountants to pursue the Ph.D programme from the above Unive...
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ICAI |
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India Inc to pay tax on employees contribution to PF if not deposited before PF due date - ITAT
Posted Date : 28-May-2013 , 08:36:41 am | Posted By CASANSAAR
If India Inc does not deposit provident fund or employee state insurance contributions collected from its employees promptly, as per the due dates under these legislation, it will have to pay tax on the same.
In a recently heard tax appeal, in the case of LKP Securities, the M...
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Income Tax |
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0 | Hits : 934
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FM to inaugurate annual conference of Income Tax personnel
Posted Date : 28-May-2013 , 08:33:44 am | Posted By CASANSAAR
Finance Minister P. Chidambaram will inaugurate the 29th annual conference of Chief Commissioners and Directors General of Income Tax here on Tuesday.
The two-day conference is being organised by the Central Board of Direct Taxes (CBDT) at Vigyan Bhawan here on May 28th ...
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Income Tax |
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0 | Hits : 651
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RBI imposes restrictions on bank lending against gold
Posted Date : 27-May-2013 , 09:28:58 pm | Posted By CASANSAAR
In a bid to curb demand for gold, the Reserve Bank on Monday imposed restrictions on banks and NBFCs for providing loans against gold coins as well as units of gold ETFs and mutual funds.
"...it is advised that while granting advance against the security of specially minted gold coins sold by ...
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RBI |
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Amway India Chairman, 2 Directors arrested
Posted Date : 27-May-2013 , 08:47:34 pm | Posted By CASANSAAR
Network marketing firm Amway’s India Chairman and CEO William S Pinckney and two company Directors were arrested in Kozhikode on Monday on charges of financial irregularities.
The two directors are Sanjay Malhotra and Anshu Budhraja, crime branch sources said.
The arrests wer...
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General |
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Tax dept send letters to another 35,000 assessees for not filing returns
Posted Date : 27-May-2013 , 07:01:11 pm | Posted By CASANSAAR
Continuing its drive against non-filers, the income tax department on Monday sent letters to another 35,000 such assessess for not filing tax returns, taking the total number of these letters to 1.75 lakh. The I-T Departmenthas identified around 12 lakh assessees who have not filed th...
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Income Tax |
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0 | Hits : 748
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Sudha Sharma likely to be new CBDT head
Posted Date : 27-May-2013 , 08:53:40 am | Posted By CASANSAAR
Sudha Sharma, a 1976 batch Indian Revenue Service (IRS) officer, is likely to be the new head of Central Board of Direct Taxes (CBDT).
Its current chairperson Poonam Kishore Saxena will retire on May 31.
"Sudha Sharma's appointment as the next CBDT c...
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Income Tax |
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0 | Hits : 808
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Over 100 MNCs seek advance ruling to avoid tax disputes
Posted Date : 27-May-2013 , 08:46:14 am | Posted By CASANSAAR
Seeking to avoid transfer pricing taxation dispute, about 146 multi national companies (MNCs) have sought advance ruling under APA (Advance Pricing Agreements) mechanism.
"We have received 146 applications from companies for advance pricing agreement mechanism which would allow co...
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Income Tax |
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0 | Hits : 700
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87 companies yet to meet SEBI norms on minimum public shareholding
Posted Date : 26-May-2013 , 10:45:37 pm | Posted By CASANSAAR
Nearly 87 actively-traded companies, including 75 private entities and 12 state-run units, are yet to comply with the minimum public shareholding (MPS) norms stipulated by the Securities and Exchange Board of India (Sebi).
The Indian market has seen 44 OFSs (offer-for-sale) and eight IPPs (institut...
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SEBI |
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iGate facing unsettled tax demands worth Rs 738 cr
Posted Date : 26-May-2013 , 04:34:07 pm | Posted By CASANSAAR
After WNS and Infosys, iGate is the latest to face tax issues in India with the US-based outsourcing firm having an "unsettled" tax demand of $132.7 million (about Rs 738 crore) for assessment years 2004-05 to 2009-10.
iGate, which was in news for sacking of its chief executive Phaneesh Mur...
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Income Tax |
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0 | Hits : 661
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Fin Min to mail 'polite letters' to service tax defaulters
Posted Date : 26-May-2013 , 04:30:08 pm | Posted By CASANSAAR
Service tax, customs and excise duty defaulters will get "polite letters" seeking information about their pending liability and any suspicious dealings carried out by them possibly with black money.
The novel method of non-intrusive letters will be sent to seek clarifications from an entity...
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Service Tax |
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Superintendent of Service Tax & An Income Tax Inspector jailed in Bribery case
Posted Date : 26-May-2013 , 09:09:43 am | Posted By CASANSAAR
The special Judge for CBI Cases, Bangalore has convicted Sri A. Vanangamudi, then Superintendent ofService Tax, Service TaxCommissionerate, Bangalore to undergo two years Simple Imprisonment with fine Rs.20,000/- in a bribery case.
The investigation revealed that Sri A. Vanangamudi, Su...
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Service Tax |
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0 | Hits : 1104
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RBI to relax contract booking norms for exporters
Posted Date : 26-May-2013 , 08:14:01 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has decided to relax norms forexporters. “The facility of rebooking of cancelled contracts is being increased from the present limit of 25 per cent to 50 per cent and made symmetrical for both exporters and importers,” said RBI executive director G Padmana...
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RBI |
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