There is prima facie case against Nokia: I.Tax Dept
Posted Date : 09-Jan-2013 , 11:00:07 am | Posted By CASANSAAR
There is a prima facie case against Nokia India on income-tax default to the tune of Rs 2,500 crore to Rs 3,000 crore, the Income-Tax Department concluded after its investigation at the company's Sriperumbudur factory.
The I-T department officials concluded their investigation after a 24-ho...
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Income Tax |
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Nokia accused of tax evasion, Income Tax department launches 'survey'
Posted Date : 08-Jan-2013 , 08:17:47 pm | Posted By CASANSAAR
Income Tax department officials today conducted a survey operation on the premises of Finnish cellphone major Nokia in Chennai on charges of alleged tax evasion.
Sources in the department said the survey operation was conducted at the company's premises in the Tamil Nadu capital (unde...
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Category :
Income Tax |
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Supreme Court issues notice to Amitabh Bachchan in Income Tax case
Posted Date : 08-Jan-2013 , 01:47:46 pm | Posted By CASANSAAR
The Supreme Court today issued a notice to megastar Amitabh Bachchan on a petition from the Income Tax department. The IT department says the megastar owes 1.66 crores in taxes for his show Kaun Banega Crorepati for the year 2002-03.
In July 2012, the Bombay High Court had granted r...
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Income Tax |
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Diesel price may be hiked by Rs 2 per litre, say sources as PM hints at fuel price hike
Posted Date : 08-Jan-2013 , 12:12:55 pm | Posted By CASANSAAR
Prime Minister Manmohan Singh has warned that the government must raise diesel, kerosene and cooking gas prices in a phased manner as India's fuel prices are well below international prices. Sources have told Network 18 that the government may consider hiking diesel prices by Rs 2 to 3 per...
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General |
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Empanelment of Members to act as Observers at the Examination Centres for the Chartered Accountants Examinations May / June 2013
Posted Date : 08-Jan-2013 , 09:24:07 am | Posted By CASANSAAR
The Institute intends to draw a Panel from amongst its Members for acting as Observer atthe examination centres in various cities during the Chartered Accountants Examinations tobe held from 2nd to 16th May, 2013 and the Common Proficiency Test to be held on 16thJune, 2013 (Sunday).
...
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ICAI |
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RBI permits repo in CPs, CDs, NCDs
Posted Date : 08-Jan-2013 , 09:20:07 am | Posted By CASANSAAR
The corporate bond market was in for a boost on Monday as the Reserve Bank of India (RBI) allowed repo transactions in commercial papers (CPs), certificates of deposits (CDs) and non-convertible debentures (NCDs) maturing in less than one year.
While companies issue CPs, banks issue CDs to ...
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RBI |
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Cut lock-in period for tax saving deposits to 3yrs: Bankers
Posted Date : 07-Jan-2013 , 10:58:26 pm | Posted By CASANSAAR
Bankers demanded that lock-in period for tax saving deposits be brought down to three years from five years to channelise more funds into the banking sector. In a pre-budget consultation with Finance Minister P Chidambaram, bankers also sought permission to issue tax-free bonds like other financial ...
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Category :
Budget |
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Govt seeking to amend controversial tax rules next month
Posted Date : 07-Jan-2013 , 10:56:35 pm | Posted By CASANSAAR
The government is likely to approach parliament next month to water down retrospective tax rules that damaged investor confidence, two finance ministry officials said on Monday, a move that may help settle British-based Vodafone Group Plc's long-runnning $2 billion tax dispute.
Vodafone, the la...
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Income Tax |
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0 | Hits : 263
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RBI cancels registration of two NBFCs
Posted Date : 07-Jan-2013 , 10:54:53 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) today said it has cancelled registration of two non-banking financial companies — Emcorp Finance Ltd andCare Credit and Investments Company Pvt Ltd.
“Following cancellation of the registration certificate the companies cannot transa...
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RBI |
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TDS shortfall due to an error is no reason to disallow it: HC
Posted Date : 07-Jan-2013 , 09:49:01 am | Posted By CASANSAAR
A shortfall in the tax deducted at source (TDS) because of a bonafide error in applying the provisions of the Income-tax Act, is not a valid reason to disallow the entire amount, according to a recent judgment by the Calcutta High Court.
The division bench that made the ruling comprised Jus...
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Income Tax |
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0 | Hits : 505
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Katrina Kaif Wins Service Tax Case; Won’t Pay Rs 3 Crores Tax Demand
Posted Date : 07-Jan-2013 , 09:45:33 am | Posted By CASANSAAR
The Service Tax Tribunal has ruled in favor of actress Katrina Kaifand the lady has been discharged from any tax liability.
Earlier, the Indian Service Tax Department had filed a demand notice of Service Tax Recovery on actress Katrina Kaif for her advertisement and modeling ...
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Service Tax |
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RBI may stick to 6 crores limit for March 2013 Statutory Branch Bank Audits
Posted Date : 07-Jan-2013 , 08:48:21 am | Posted By CASANSAAR
As per internal Sources Reserve Bank of India has decided to stick to 6 crores limit for March 2013 Statutory Branch Bank Audits.
As per the reliable source, in spite of clearance for 20 crores limit, RBI is going ahead with last year agreed limit of 6 crores.
RBI...
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Category :
Auditing |
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0 | Hits : 1947
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Master blaster Sachin Tendulkar answers critics with his bat, slams century in Ranji match
Posted Date : 06-Jan-2013 , 08:53:38 pm | Posted By CASANSAAR
Sachin Tendulkar scored his 80th first-class century for Mumbai to help his team post 272 for three on the first day of their Ranji Trophyquarter-final clash against Baroda at the Wankhede Stadium here today.
He was well-supported by opener Wasim Jaffer (137 not out), who scored his se...
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General |
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Pay cheques of CEOs, directors under Sebi scanner
Posted Date : 05-Jan-2013 , 10:10:52 pm | Posted By CASANSAAR
After capping the variable pay of the top brass of stock exchanges and other capital market institutions, the Securities and Exchange Board of India (Sebi) now wants to regulate salaries of CEOs in corporate India.
“It may be noted that, on average, the remune...
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Category :
Corporate Law |
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0 | Hits : 271
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Banks to put information of frauds before audit committee: RBI
Posted Date : 05-Jan-2013 , 03:08:57 pm | Posted By CASANSAAR
The Reserve Bank of India has directed banks to place information regarding any frauds before the audit committee of the board of directors every quarter.
In a notification on Friday, RBI said an annual review of frauds should also be conducted and placed before the ...
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RBI |
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Direct tax collection up 8% in April-December
Posted Date : 05-Jan-2013 , 03:08:11 pm | Posted By CASANSAAR
The revenue collection continues to grow at snail's pace with the April-December 2012 direct tax mop up showing a meagre growth of 8%.
Any hope the government could derive was from the personal income tax, contribution from individuals, which showed a rise of 15% growth durin...
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Category :
Income Tax |
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Vodafone gets I-T department reminder on $2 bn tax dues
Posted Date : 05-Jan-2013 , 03:02:41 pm | Posted By CASANSAAR
British telecommunications carrier Vodafone Group Plc said on Saturday it has received a reminder from Indian tax authorities on disputed tax dues over its 2007 acquisition of Indian mobile assets.
Vodafone, the world's biggest mobile operator by revenue, said in a statement the reminder do...
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Category :
Income Tax |
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ICAI to conduct CPT Exams on 16th June, 2013 in Paper- Pencil Mode
Posted Date : 04-Jan-2013 , 09:11:44 am | Posted By CASANSAAR
The Institute of Chartered Accountantsof India
NOTIFICATION
2nd January, 2013
No.13-CA (EXAM)/CPT/ June/2013: In pursuance of Regulation 22 of the Chartered Accountants Regulations, 1988, the Council of the Institute of Chartered Accountants of India is pleased to notify th...
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ICAI |
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Companies must give sales data to stock exchanges first: Sebi
Posted Date : 04-Jan-2013 , 09:06:11 am | Posted By CASANSAAR
The capital market regulator has made it mandatory for companies to disclose monthly sales, turnover or production figures first to stock exchangesbefore giving the data to industry associations or the media."It has been brought to our notice that certain listed companies have been gi...
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SEBI |
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CCI Modifies Apartment Buyers Agreement In The DLF Case
Posted Date : 04-Jan-2013 , 09:03:11 am | Posted By CASANSAAR
The Competition Commission of India passed a supplementary order modifying the Apartment Buyers Agreement entered into between DLF and the apartment allottees. This order under Section 27 of the Competition Act, 2002 relates to the order of the Hon’ble Competition Appellate Tribunal of March 2...
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Corporate Law |
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0 | Hits : 236
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Recounting demanded by Vinod Jain at NIRC Central Council Voting
Posted Date : 03-Jan-2013 , 09:32:18 pm | Posted By CASANSAAR
It is learnt from sources that CA Vinod Jain ( Ballot No. 10) has claimed recounting of Central Council Votes for NIRC.
Vinod Jain is a sitting Member of Central Council & Lost his Seat in this Election. He was on Position 7th.Recounting may be start today or tomorrow.
CURR...
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ICAI |
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NIRC: Central Council Final result. Two sitting council members lost
Posted Date : 03-Jan-2013 , 09:27:51 pm | Posted By CASANSAAR
Here is the final result of the Central Council. While elimination of Vinoj Jain completes, the ranking may change, but the winners remains the same.Pankaj Tyagee and Vinod Jain, two sitting Central Council members lost the elections and couldn't make it again to the council.
Rank...
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ICAI |
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CAG's authority of auditing oil and gas blocks unquestionable: PMEAC
Posted Date : 03-Jan-2013 , 02:56:04 pm | Posted By CASANSAAR
The Prime Minister’s Economic Advisory Council (PMEAC) has put to rest all the speculation and confusion about the Comptroller and Auditors General’s power of auditing oil and gas blocks operated by private firms.
Referring to oil and gas block contracts operated by the privat...
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Category :
Auditing |
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U.S. court dismisses claims against former Satyam directors
Posted Date : 03-Jan-2013 , 02:54:57 pm | Posted By CASANSAAR
A U.S. court has dismissed civil claims filed against former independent directors of erstwhile Satyam Computer, saying they themselves were victims of over $ 1-billion accounting fraud at Indian IT firm.
Hearing the petition, the US District Court Judge Barbara Jones of...
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Category :
International Business |
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Tax officials seize 'US bonds' worth Rs. 28,000 cr in raid
Posted Date : 03-Jan-2013 , 12:04:35 pm | Posted By CASANSAAR
Income-tax officials have seized documents believed to be US Treasury bonds worth Rs. 28,000 crore during a raid on the premises of a businessman in Tirupur district.
The raids were carried out on the residence of Ramalingam at Upputhurai Palayam village on December 31 night, of...
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Category :
Income Tax |
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0 | Hits : 512
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Sebi moots stronger norms for share buybacks
Posted Date : 02-Jan-2013 , 07:29:39 pm | Posted By CASANSAAR
Sebi has proposed significant changes to existing framework for buyback of shares by companies from open market, that require the process be to complete in three months and minimum repurchase to be 50 per cent of the target.
The proposals are primarily aimed at ensuring that only serious companies ...
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SEBI |
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0 | Hits : 339
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Government warns of tough action against excise, service tax evaders
Posted Date : 02-Jan-2013 , 06:49:12 pm | Posted By CASANSAAR
In a stern warning to evaders of excise, customs and service tax, the government today asked them to either pay the dues or face penal action which could include arrest, prosecution and property attachment.
"We are keeping a very close watch on such elements. They are advised to come for...
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Category :
Excise |
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Govt sets up Fin Commission; to look into pricing of utilities
Posted Date : 02-Jan-2013 , 06:47:42 pm | Posted By CASANSAAR
The government on Wednesday constituted the 14th Finance Commission under the Chairmanship of former RBI Governor Y V Reddy, which among other things, will suggest steps for pricing of public utilities like electricity and water in an independent manner.
Announcing the formation of t...
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Finance |
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Urjit Patel appointed RBI deputy governor
Posted Date : 02-Jan-2013 , 06:46:45 pm | Posted By CASANSAAR
Urjit Patel has been appointed as a deputy governor of the Reserve Bank of India, banking secretary DK Mittal told Reuters on Wednesday.
Patel will replace Subir Gokarn, who was heading the monetary policy department, among others in the central bank.
P...
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RBI |
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0 | Hits : 283
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ICAI Elections 2012 - Updates on Counting of Votes (CENTRAL REGION)
Posted Date : 01-Jan-2013 , 03:22:10 pm | Posted By CASANSAAR
Central India Regional Constituency (Central Council)
Rank
Name
City
Total
1st Pref Votes
1
FADNIS MANOJ
INDORE
2105
1704
2
GARG VIJAY KUMAR
JAIPUR
2105
1689
3
GOYAL ANUJ
GHAZIABAD
...
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ICAI |
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0 | Hits : 6687
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