Cobrapost impact: Bank Audits set to get tougher
Posted Date : 16-May-2013 , 08:20:54 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) and the government could look at reinstating audit system even in “smaller” branches with advances below Rs. 20 crore following rampant violation of know your customer (KYC) norms by banks revealed by investigative website Cobrapost.
Large num...
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ICAI |
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Application form for the ISA-AT scheduled on 22nd June, 2013
Posted Date : 16-May-2013 , 08:20:34 am | Posted By CASANSAAR
Download the Application Form
Apply Online for ISA-AT, June 2013
Please visit the site http://isaat.icaiexam.icai.org to apply for Information Systems Audit (Isa) Course Assessment Test - June 2013
Source :- ICAI.ORG....
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ICAI |
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0 | Hits : 1025
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Newspaper vendor bells the CAT; gets entry into IIM Calcutta
Posted Date : 15-May-2013 , 09:31:05 pm | Posted By CASANSAAR
As the alarm goes off at 4am, N Shiva Kumar is up on his feet, stacking his bicycle with newspapers. He has to deliver them before the sun appears on the horizon. A habit since Class 6, Shiva's life is set to change now. Come June 16, this newspaper-boy-turned-vendor will walk do...
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General |
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0 | Hits : 1241
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RBI inflation bonds for attracting household savings on June 4
Posted Date : 15-May-2013 , 08:47:18 pm | Posted By CASANSAAR
The Reserve Bank today announced it will launch inflation-linked bonds every month, starting June 4, to attract household savings of up to Rs 15,000 crore this fiscal so as to discourage investments in gold.
"RBI, in consultation with Government of India, has decided to laun...
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RBI |
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0 | Hits : 833
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Double Digit Returns on National Pension System (NPS) Schemes for Financial Year 2012-13
Posted Date : 15-May-2013 , 06:47:55 pm | Posted By CASANSAAR
The National Pension System (NPS) regulated by Pension Fund Regulatory and Development Authority (PFRDA) has delivered double digit returns for the financial year 2012-13 and has evidenced itself as not just being the cheapest retirement product but also as the highest returns generating scheme.
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Finance |
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FinMin ratifies 8.5% interest on PF deposits for 2012-13
Posted Date : 15-May-2013 , 03:01:26 pm | Posted By CASANSAAR
The Finance Ministry has approved payment of 8.5% rate interest for 2012-13, up from 8.25% in the previous fiscal, benefiting over 5 crore EPFO subscribers.
"Finance Ministry has notified 8.5% interest rate for 2012-13. It will be implemented with immediate effect," EPFO's Central Provident Fund Co...
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Finance |
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0 | Hits : 822
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NRI status a must to invoke transfer pricing, says ITAT
Posted Date : 15-May-2013 , 09:54:32 am | Posted By CASANSAAR
In a decision that will have farreaching implications on companies across sectors, the Income-Tax Appellate Tribunal (ITAT), Mumbai, held that an element of cross-border transaction and existence of an associated enterprise (AE) are pre-requisites for invoking the provisions of transfer pr...
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Income Tax |
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0 | Hits : 727
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ICAI revises fees for all GMCS Course(s)
Posted Date : 15-May-2013 , 08:30:24 am | Posted By CASANSAAR
Revision of Fee for all GMCS Course(s)
13th May, 2013
The Council at its 324th Meeting held in April, 2013 decided that with effect from 1st July, 2013 fee for the General Management and Communication Skills (GMCS) Course i.e. existing GMCS Course, GMCS – I and GMCS –...
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ICAI |
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0 | Hits : 3156
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Balaji Telefilms
Posted Date : 15-May-2013 , 08:26:21 am | Posted By CASANSAAR
Gaurav, who has been working with Ekta Kapoor’s production house for three years now, claims he has been threatened for reporting the firm’s malpractices
Ekta Kapoor, and her parents, Jeetendra and Shobha Kapoor have been caught in a legal turmoil for quite some time now. Last m...
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ICAI |
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0 | Hits : 2680
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RBI eases foreign funding rules in key infra sectors
Posted Date : 15-May-2013 , 08:20:40 am | Posted By CASANSAAR
To improve flow of cheaper funds into key infrastructure sectors, the Reserve Bank of India on Tuesday eased the norms for external commercial borrowings (ECBs) for the aviation and housing sectors.
"The RBI has extended the ECB relaxation for affordable housing, which was there for one yea...
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RBI |
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Kapil Sibal overturns Ashwani Kumar's decision on Vodafone tax liability
Posted Date : 15-May-2013 , 08:15:27 am | Posted By CASANSAAR
Newly-appointed Law Minister Kapil Sibal has overturned his predecessor Ashwani Kumar's decision on the Vodafone tax liability issue and has given a go ahead for the matter to be resolved through conciliation.
British telecom major Vodafone faces a Rs. 11,200-crore tax liability in ...
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Income Tax |
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0 | Hits : 948
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Record Performance of SPMCIL in Production of Bank Notes, Coins and Security Products During 2012-13
Posted Date : 14-May-2013 , 08:50:14 pm | Posted By CASANSAAR
Security Printing & Minting Corporation of India Ltd. (SPMCIL) has achieved all the targets with regard to production of Bank Notes, Coins, Security Products (Passports, NJSPs, Postal Products and other Security Products) and production of the Raw Materials (Security Inks and Security Paper) dur...
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Finance |
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0 | Hits : 729
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Download ITR- 1 for AY 13-14 / FY 2012-13 for Online Filing of Income tax Return
Posted Date : 14-May-2013 , 12:59:25 pm | Posted By CASANSAAR
ITR 1 (offline/online) for AY 2013-14 is available for e-Filing – Income taxDepartment has released ITR 1 for Filing of Return for the Assessment Year 2013-14/ Financial Year 2012-13.
Download ITR- 1 for AY 13-14 / FY 2012-13 for Online Filing of Income tax Return
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Income Tax |
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0 | Hits : 5112
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CA paper leaked at Mumbai college, National test put off
Posted Date : 14-May-2013 , 09:05:48 am | Posted By CASANSAAR
The question paper goof-up bug that plagued Mumbai University all this exam season appears to have gone viral. Even as some kind of order returned to the campus with teachers resuming duty, a nationwide CA exam has been pushed back as the wrong question paper was given out in a city c...
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Students Zone |
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0 | Hits : 4394
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Standard Audit scheme soon
Posted Date : 14-May-2013 , 08:39:27 am | Posted By CASANSAAR
In a bid to bring more transparency to the Mahatma Gandhi National Rural Employment Guarantee Act, The Institute of Chartered Accountants of India are evolving standards to audit the scheme in 2.5 lakh villages. Addressing a press conference here on Friday, president of ICAI Subodh Kumar Agarw...
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ICAI |
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0 | Hits : 1057
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Cobrapost sting: RBI finds violations by banks, insurers
Posted Date : 14-May-2013 , 08:37:01 am | Posted By CASANSAAR
The RBI probing allegations of money laundering by several banks and insurance firms has found that these entities not only failed to adhere to Know-Your-Customer (KYC) norms but also permitted customers to divide cash deposits into small tranches below the benchmark level to avoid reporting or dete...
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RBI |
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0 | Hits : 789
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Sebi extends deadline for meeting ESOP norms to December 31
Posted Date : 14-May-2013 , 07:56:02 am | Posted By CASANSAAR
Market regulator Sebi today extended the deadline for listed companies to comply with norms that bar employee benefit schemes and trusts from buying shares of their own firms from the secondary market, to December 31. Sebi has also provided clarification on applicability of thes...
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SEBI |
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RBI puts restrictions on gold imports by banks
Posted Date : 13-May-2013 , 09:08:00 pm | Posted By CASANSAAR
With gold imports putting pressure on the current account deficit, the Reserve Bank today imposed restrictions on import of the yellow metal by banks."To moderate the demand for gold for domestic use, it has been decided to restrict the import of gold on consignment basis by...
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RBI |
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Cancellation of Examination of Group-II, Paper-7, Information Technology and Strategic Management of Intermediate (Integrated Professional Competence) Examination Scheduled on 15th May
Posted Date : 13-May-2013 , 09:05:02 pm | Posted By CASANSAAR
IMPORTANT ANNOUNCEMENT
CANCELLATION OF EXAMINATION OF GROUP-II, PAPER-7, INFORMATION TECHNOLOGY AND STRATEGIC MANAGEMENT OF INTERMEDIATE (INTEGRATED PROFESSIONAL COMPETENCE) EXAMINATION SCHEDULED ON 15TH MAY – 2013.
It is hereby informed that due to unavoidable circumstance...
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Students Zone |
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0 | Hits : 2120
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Taxmen call on WNS; slap tax demands of about Rs 557 cr
Posted Date : 12-May-2013 , 08:26:22 pm | Posted By CASANSAAR
After Vodafone, Nokia and Shell, WNS is the latest MNC that has come under the tax scanner on transfer pricing issue and the outsourcing major has demands of additional tax of about Rs 557 crore on income and with regard to acquisition of UK-based Aviva's BPO services.
The company, however, has cha...
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Income Tax |
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0 | Hits : 837
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Sebi mulls annulment policy for freak trades
Posted Date : 12-May-2013 , 08:25:02 pm | Posted By CASANSAAR
Capital markets regulator Sebi is looking to frame a 'trade annulment policy' to cancel the freak trade orders that might have wider ramifications in terms of impact on the indices or other stocks.
The annulment policy would look at safeguarding the broader market interests from the freak orders ex...
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SEBI |
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0 | Hits : 691
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Fin Min detects Rs 400 cr custom duty, tax evasion
Posted Date : 12-May-2013 , 08:04:13 pm | Posted By CASANSAAR
In its bid to plug revenue leakage, the Finance Ministry has detected custom duty and service tax evasion of at least Rs 400 crore between January and March this year.
The detection came after the Directorate General of Central Excise Intelligence (DGCEI) and Directorate General of Revenue Intellig...
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Custom |
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Donations tax-free if schools use funds for education
Posted Date : 12-May-2013 , 08:25:30 am | Posted By CASANSAAR
Donations collected by schools will be tax-free if it is used for advancement of education. "If the income earned by a trust is utilized for charitable purposes, it cannot be held that the trust is carrying out business," the Mumbai bench of the Income Tax Appellate Tribunal said while hea...
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Income Tax |
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0 | Hits : 964
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I-T looks at global practices on transfer pricing
Posted Date : 12-May-2013 , 08:24:22 am | Posted By CASANSAAR
With the government’s demand of 57 per cent more tax under transfer pricing rules in 2012-13 making companies jittery, the Income Tax (I-T) Department has adopted a course-correction mode, giving ‘guidance’ to assessing officers to help them frame orders based on international best...
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Income Tax |
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0 | Hits : 803
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ICAI plans to audit rural job scheme
Posted Date : 11-May-2013 , 08:54:52 am | Posted By CASANSAAR
In a move to usher in more transparency in Mahatma Gandhi National Rural Employment Guarantee Act, the Institute of Chartered Accountants of India (ICAI) will evolve standards to audit the scheme in 2.5 lakh villages, said ICAI president, Subodh Kumar Agarwal on Friday.
Briefing reporters, ...
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ICAI |
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1 | Hits : 1491
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Mandatory e-filing of excise duty returns likely for all
Posted Date : 11-May-2013 , 08:35:26 am | Posted By CASANSAAR
The Central Board of Excise and Customs (CBEC) is considering making electronic filing mandatory for excise duty payment. An official source told The Indian Express that the present duty cap of Rs 10 lakh for e-filing is likely to be done away with and all the assesses may have to file returns elect...
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Excise |
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0 | Hits : 1030
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GST regime to exempt at least 96 items from tax
Posted Date : 11-May-2013 , 07:51:52 am | Posted By CASANSAAR
The Centre and States have agreed to have a common exempted list for at least 96 goods under the proposed Goods and Services Tax (GST) regime.
The consensus was reached on the first day of a two-day meeting of State finance ministers here.
“Overall, we have moved forward. We ...
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GST |
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1 | Hits : 1029
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FVU version 3.71
Posted Date : 11-May-2013 , 07:48:18 am | Posted By CASANSAAR
Key features of File Validation Utility (FVU) version 3.71
Section 80CCG: Section 80CCG has been incorporated for Form no. 24Q Q4. Section code 80CCG is applicable for FY 2012-13 onwards.Section 80CCF: Quoting deductionunder section 80CCF has been restricted to FY 2010-11 and...
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Income Tax |
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0 | Hits : 1533
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TIN revises rates for e-TDS/TCS, AIR, Form 24G Returns
Posted Date : 11-May-2013 , 07:46:27 am | Posted By CASANSAAR
TIN With effect from May 4, 2013, revised rates for acceptance of e-TDS/TCS, Form 24G Statements and AIR at TIN Facilitation Centres (TIN-FCs) are as under:
Basis of charges
Charges*
0 – 100 records
35.00
100 – 1000 records
200.00
Mor...
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Income Tax |
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0 | Hits : 1071
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UPA's Black Friday: Ashwani Kumar, Pawan Bansal resign
Posted Date : 10-May-2013 , 09:41:08 pm | Posted By CASANSAAR
In a day of high drama, law minister Ashwani Kumar resigned on Friday following the resignation of railway minister Pawan Kumar Bansal. Ashwani Kumar was under fire from the opposition after the Supreme Court came down heavily on the CBI for allowing the law ministry to...
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General |
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