Government may inject $3.7 billion in banks in FY14: Source
Posted Date : 13-Feb-2013 , 06:17:37 pm | Posted By CASANSAAR
The government is likely to allocate 200 billion rupees for capital infusion in state-run banks in the next financial year, a finance ministry official with direct knowledge of budget talks told Reuters on Wednesday.
The official refused to be named as the information is a&nbs...
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Banking |
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FIPB clears 4 single-brand retail FDI proposals of worth Rs 750 crore
Posted Date : 13-Feb-2013 , 04:20:13 pm | Posted By CASANSAAR
The Finance Ministry today cleared four foreign direct investment (FDI) proposals in single brand retailing, including that of Decathlon and Fossil Inc, worth about Rs 750 crore, sources said. Foreign Investment Promotion Board (FIPB), headed by Economic Affairs Secretary Ar...
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Finance |
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ICAI issues notice to Reebok's former CFO Vishnu Bhagat
Posted Date : 13-Feb-2013 , 08:32:56 am | Posted By CASANSAAR
Accounting regulator ICAI today said it has issued show-cause notice to Reebok India's former Chief Financial Officer Vishnu Bhagat regarding alleged fraud at the sportswear maker.The issue relates to alleged Rs 870 crore financial fraud at the company last year."We have iss...
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Income Tax |
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1 | Hits : 644
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ICAI, RBI to soon discuss accounting standards for banking cos
Posted Date : 13-Feb-2013 , 08:27:37 am | Posted By CASANSAAR
Accounting regulator ICAI will soon hold discussions with the Reserve Bank of India on implementation of IFRS standards by banking companies.
The Institute of Chartered Accountants of India (ICAI) has also submitted a tentative roadmap for IFRS implementation to the Corpora...
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ICAI |
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I-T officials violated the law: Nokia
Posted Date : 12-Feb-2013 , 07:26:49 pm | Posted By CASANSAAR
Finland-based mobile handset maker Nokia today came heavily on the Indian Income Tax (I-T) Department stating that the authorities actions are excessive, unacceptable and inconsistent with Indian standards of fair play and governance. The company also said that the department officials hav...
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Income Tax |
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0 | Hits : 233
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CA.Subodh Kumar Agrawal President & K.Raghu Elected as Vice President of ICAI
Posted Date : 12-Feb-2013 , 02:26:28 pm | Posted By CASANSAAR
CASANSAAR Team Congrats Newly Elected President & Vice President of ICAI.
CA.Subodh Kumar AgrawalPresident, ICAI2013-14
CA.K.RaghuVice Presidet, ICAI2013-14
...
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ICAI |
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No going back on national financial reporting authority (NFRA) : Sachin Pilot said at ICAI annucal function
Posted Date : 12-Feb-2013 , 08:43:47 am | Posted By CASANSAAR
The chartered accountants’ fraternity must work hard to maintain the “integrity” and “credibility” of the profession, exhorted Corporate Affairs Minister Sachin Pilot.
As India becomes more relevant to a globalised economy, the expectations will only be on the ...
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ICAI |
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Making samosa, chappati entitle to tax exemptions: Income tax tribunal
Posted Date : 12-Feb-2013 , 08:43:33 am | Posted By CASANSAAR
Preparing food items like paratha, samosa, dhokla and chappati for sale is a 'manufacturing activity' and entitled to tax exemptions, ruled an income tax tribunal."...manufacturing of chappati, paratha, samosa, dhokla constitutes manufacturing activity," said Ahmedabad bench...
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Income Tax |
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Income tax dept identifies 12L entities not filing returns
Posted Date : 12-Feb-2013 , 08:42:41 am | Posted By CASANSAAR
The finance ministry's crackdown on tax evaders has begun with over 35,000 nonfilers , who had made significant transactions, sent I-T notices to substantiate their source ofincome and why they had not filed their tax returns.
Notices were sent after the intelligence wing of the&...
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Income Tax |
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0 | Hits : 556
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Sebi frowns control practice of private equity investors
Posted Date : 12-Feb-2013 , 08:30:29 am | Posted By CASANSAAR
The tricky issue of 'control', that lies at the heart of every M&A deal, has come back to hauntprivate equity investors. Even with a minority stake, these investors often have veto powers over key decisions of companies they invest in - a practice that was recently frowned upon by...
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SEBI |
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Council accepts panel's call to scrap ICAI head's project
Posted Date : 11-Feb-2013 , 08:20:54 am | Posted By CASANSAAR
In a major embarrassment to the Institute of Chartered Accountants of India (ICAI), the regulator for auditors, a Rs 100 crore-plus project initiated by its president Jaydeep Shah in his hometown Nagpur has been rejected by the statutory body's top decision-making body on grounds...
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ICAI |
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After Shell, Hindalco faces transfer pricing tax notice
Posted Date : 11-Feb-2013 , 08:11:30 am | Posted By CASANSAAR
After Shell, it’s the turn of the Aditya Vikram Birla group to get a taste of the income-tax medicine on transfer pricing. Hindalco, the owner of Novelis, is set to get a notice from the income-tax department for “earning” fees while giving corporate guaran...
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Income Tax |
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0 | Hits : 558
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Sebi allows liquidity enhancement schemes in equity cash market
Posted Date : 10-Feb-2013 , 03:54:35 pm | Posted By CASANSAAR
Market regulator Sebi has allowed stock exchanges to introduce incentive schemes for brokers and intermediaries to enhance liquidity in illiquid securities in the equity cash segment. The decision has been taken pursuant to introduction of incentive schemes in derivatives segment to e...
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SEBI |
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0 | Hits : 300
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FM launches Rajiv Gandhi Equity Savings Scheme
Posted Date : 09-Feb-2013 , 06:29:15 pm | Posted By CASANSAAR
Finance Minister P. Chidambaram has launched the much-awaited Rajiv Gandhi Equity Savings Scheme in Mumbai.The move would encourage new investors to put their money in the stock market.The scheme, which was announced in the Budget, seeks to provide tax benefits to first-time investors in stock ...
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Income Tax |
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0 | Hits : 507
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Budget 2013: USIBC for a fair transparent tax environment
Posted Date : 09-Feb-2013 , 04:44:03 pm | Posted By CASANSAAR
The US India Business Council has submitted to Union Finance Minister P Chidambaram a wish list of reforms in the taxation sector, which the industry body argues would create a fair and transparent tax environment. In its pre-budget memorandum submitter to the Union Finance ...
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Budget |
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After I-T, excise, service tax officials announce stir
Posted Date : 09-Feb-2013 , 10:31:15 am | Posted By CASANSAAR
The government’s already muted tax collections are set to take a further hit, with central excise and service tax officials now threatening to hand out mass resignations for delay in promotions. Income tax officers have already refused to stop work and issue assessment orders over the same iss...
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Service Tax |
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0 | Hits : 584
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Afzal Guru hanged in Tihar Jail at 8am
Posted Date : 09-Feb-2013 , 10:25:32 am | Posted By CASANSAAR
At 8 am on Saturday, Afzal Guru, the main accused in the Parliament attack case of December 13, 2001 was hanged in Delhi's Tihar jail, less than three months after the hanging of Mohammed Ajmal Kasab, the Pakistan-based terrorist who was part of the 26/11 Mumbai attack.
However, Guru's body...
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General |
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Insurers can now buy up to 15 per cent stake in companies: Irda
Posted Date : 08-Feb-2013 , 10:55:20 pm | Posted By CASANSAAR
The Insurance Regulatory and Development Authority (Irda) today raised the exposure an insurance company can take in the equity of companies.
The regulator said depending upon the size of their controlled fund, insurers can pick up 12 percent and 15 percent stake in a company. The cap was e...
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General |
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0 | Hits : 259
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FinMin tax collection in trouble as I-T officers launch nationwide agitation
Posted Date : 08-Feb-2013 , 08:10:32 pm | Posted By CASANSAAR
The finance ministry, which is on an overdrive to raise tax collections, is facing a roadblock from the very people who are responsible for filling up its coffers.Close to 8,500 employees in the rank of income-tax officers, assistant commissioners and administrative officers of the In...
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Income Tax |
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0 | Hits : 311
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Visually challenged beats all odds, passes Inter CA
Posted Date : 08-Feb-2013 , 09:35:56 am | Posted By CASANSAAR
Yet another visually challenged student has secured a top rank in the all India level examinations held by the Institute of Charted Accountancy of India ( ICAI).
While Guntur boy J Rajasekhara Reddy had hit the headlines by becoming the first visually challenged to complete CA (final) last for...
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Students Zone |
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2 | Hits : 661
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Nokia tax dispute: Cyber experts examine software download system
Posted Date : 08-Feb-2013 , 09:23:09 am | Posted By CASANSAAR
The investigation unit of the Income Tax Department in Chennai has roped in cyber experts to crack Nokia’s computer systems in the Sriperumbudur manufacturing plant.
This is to investigate the method of software download by the Indian company from its parent in Finland to manufacture ...
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Category :
Income Tax |
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0 | Hits : 246
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New/Revised Ind ASs finalised by ICAI (Post February, 2011)
Posted Date : 08-Feb-2013 , 09:19:42 am | Posted By CASANSAAR
The following are the New/Revised Ind ASs (Post February, 2011) corresponding to the new/revised IFRSs issued by the IASB after finalisation of 35 Ind ASs hosted on the MCA’s website. These Ind ASs have been finalised by the Council of the ICAI and sent to the National Advisory Committee on Ac...
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Income Tax |
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Tax trouble again: I-T dept alleges Vodafone underpriced shares by Rs 1,300 cr
Posted Date : 07-Feb-2013 , 09:28:31 am | Posted By CASANSAAR
Vodafone finds itself under renewed assault from Indian tax authorities even as it attempts to resolve a long-running tax dispute over the acquisition of Hutchison's Indian telecom business in 2007. This time around, theI-T Department has alleged that the Indian arm of the world's largest telec...
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Income Tax |
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CA IPCC / PCC Toppers & Pass percentage of Examination held in Nov’12
Posted Date : 07-Feb-2013 , 09:25:35 am | Posted By CASANSAAR
Chartered Accountants Integrated Professional Competence Course (IPCC) Examination held in Nov, 2012
The details of percentage of candidates passed in the above said examinations are given below:
Appeared
Passed
Percentage
Both Group
51318
5720
11.15%
Group 1
...
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Students Zone |
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0 | Hits : 3212
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CBEC seeks details of service tax payment from companies
Posted Date : 06-Feb-2013 , 07:43:04 pm | Posted By CASANSAAR
Racing against time to meet revenue collection target, tax authority CBEC has started seeking details of service tax from companies which have paid the same amount as last year or even less than that.The Central Board of Excise and Customs (CBEC) has written to such com...
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Service Tax |
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0 | Hits : 535
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Exposure Draft: Acquisition of an Interest in a Joint Operation (Proposed amendment to IFRS 11) - (Last date for sending comments: March 20, 2013)
Posted Date : 06-Feb-2013 , 07:37:51 pm | Posted By CASANSAAR
The International Accounting Standards Board (IASB) has published this Exposure Draft of proposed amendments to introduce guidance on the accounting, by a joint operator, for the acquisition of an interest in a joint operation, as defined in IFRS 11 Joint Arrangements, in which the activity of the j...
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ICAI |
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0 | Hits : 286
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Exposure Draft: Sale or Contribution of Assets between an Investor and its Associate or Joint Venture (Proposed amendments to IFRS 10 and IAS 28)
Posted Date : 06-Feb-2013 , 07:36:50 pm | Posted By CASANSAAR
The International Accounting Standards Board (IASB) has proposed these amendments to address the issues related to the changes made in IAS 27 Consolidated and Separate Financial Statements (as issued in 2008) as part of the Business Combinations project. Invitation to commentASB invit...
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ICAI |
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0 | Hits : 236
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SEBI free to seize properties of Sahara Group companies: SC
Posted Date : 06-Feb-2013 , 06:06:07 pm | Posted By CASANSAAR
In fresh trouble toSahara group, the Supreme Court on Wednesday said that SEBI is free to freeze accounts and seize properties of its two companies for defying court orders by not refunding Rs 24,000 crore to investors.
The apex court also pulled up SEBI for not taking action against the ...
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SEBI |
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Listed companies must now seek Sebi nod for all M&A deals
Posted Date : 06-Feb-2013 , 09:45:32 am | Posted By CASANSAAR
Companies traded on stock exchanges will now need the clearance of the capital market regulator Sebi for all merger, demerger and amalgamation deals. Till now, companies could execute these strategies by obtaining the approval of a high court and no-objection certificate from exc...
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SEBI |
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0 | Hits : 421
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Symphony gets ICAI award for excellence in financial reporting for second time
Posted Date : 06-Feb-2013 , 09:38:05 am | Posted By CASANSAAR
Symphony Limited, Ahmedabad-based air cooler manufacturing and marketing company, has won the ICAI award for excellence in financial reporting for the second consecutive years.Symphony was given this award for its annual report for 2010-11. The award was handed over at the Internation...
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ICAI |
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0 | Hits : 528
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