P. Chidambaram threatens tax evaders, says crackdown looming
Posted Date : 02-May-2013 , 08:09:46 pm | Posted By CASANSAAR
In a strong message to tax evaders, the government today said that it will step up efforts to bring more people into net and also endeavour to recover tax arrears.
"Between January and March...we issued notices after mining the data and thanks to the advertising campaign, I have added 50 la...
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Income Tax |
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Exchange Rate of Foreign Currency Relating to Imported and Export Goods Notified
Posted Date : 02-May-2013 , 08:05:43 pm | Posted By CASANSAAR
In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.40/2013-CUSTOMS (N.T.), dated the 18th April, 2013 vide number S.O.993 (E)...
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Custom |
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NIRC are organising Convocation only for the Members enrolled during the month of March, 2012 to August, 2012
Posted Date : 02-May-2013 , 05:29:52 pm | Posted By CASANSAAR
The Northern Regional Office of ICAI is arranging Convocation – 2013 on 17th May, 2013 for the Members enrolled during the month of March, 2012 to August, 2012. Scripts of Certificate of Membership and Certificate of Practice will be distributed in the presence of the President and Vice-...
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ICAI |
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Saradha due to formal financial system's failure: RBI
Posted Date : 02-May-2013 , 08:55:23 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has said chit fund companies which defraud people show the financial system’s failure to bring unbanked population into the formal system.
“The fact that people have to rely on such entities (chit funds) for their saving needs indicates a failure on the p...
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RBI |
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ICICI prudential gets over Rs 130 cr service tax notice
Posted Date : 02-May-2013 , 08:51:35 am | Posted By CASANSAAR
The Finance Ministry has asked private sector insurer ICICI Prudential to cough up over Rs 130 crore for alleged evasion through non-payment of service tax.
The Directorate General of Central Excise Intelligence (DGCEI) has issued a show-cause-cum-demand-notice recently to the firm alleging irregul...
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Service Tax |
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2 | Hits : 859
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SC upholds 51% FDI in multi-brand retail
Posted Date : 02-May-2013 , 08:47:30 am | Posted By CASANSAAR
After getting cornered by the Supreme Court for scams and controversies for quite some time, the UPA government on Wednesday had something to cheer about with the apex court upholding the constitutional validity of its decision allowing 51% foreign direct investment in the multi-...
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Finance |
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Clarification on Amendment to Section 206-C of Income Tax Act dealing with Tax Collection at Source (TCS) on Sale of Bullion or Jewellery in Cash
Posted Date : 02-May-2013 , 08:01:52 am | Posted By CASANSAAR
Currently, sale in cash of bullion (excluding coin or any other article weighing 10 grams or less) in excess of Rs 2 lakh or jewellery in excess of Rs.5 lakh is subject to Tax Collection at Source (TCS) @ 1%. As coins were neither included in bullion nor in jewellery, therefore, coins, even when amo...
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Income Tax |
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Valuation Course Exam to be held on 26th May, 2013 - ICAI
Posted Date : 01-May-2013 , 05:40:22 pm | Posted By CASANSAAR
CLCGC/V/1/2013
April 22nd, 2013
Certificate Course on Valuation, Examination to be held on 26th May, 2013
Dear Participants;Written Exams to be held on 26th May, 2013 (Sunday) from 10 AM to 1 PM . Please bring your membership card / Final year mark shee...
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ICAI |
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0 | Hits : 934
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Earthquake felt in parts of Delhi, Punjab & other parts of North India.
Posted Date : 01-May-2013 , 01:02:54 pm | Posted By CASANSAAR
Tremors were felt in parts of North India as a mild earthquake hit Jammu and Kashmir. The epicentre of the earthquake, measuring 5.8 on the Richter scale, was the border of Jammu and Kashmir and Himachal Pradesh.
Tremors were felt in parts of North India including New Delhi and Punjab. Peop...
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General |
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University papers clash with MPSC and CA exams, rescheduled
Posted Date : 01-May-2013 , 08:01:38 am | Posted By CASANSAAR
Two competitive exams are now clashing with the University of Mumbai exams giving students a nightmare.
MCom final year paper (old syllabus) scheduled for May 2 clashes with CA exam on the same day. Optional papers of business studies, business economics, accountancy, business management, b...
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Students Zone |
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0 | Hits : 1244
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New Norms for XBRL Filing
Posted Date : 01-May-2013 , 07:29:54 am | Posted By CASANSAAR
New norms have been put in place for Extensible Business Reporting Language (XBRL) filing with effect from 6thOctober, 2011 for select class of companies. For the financial years 2010-11 and 2011-12 a total of 2,90,39 and 2,57,86 companies respectively have filed their Balance S...
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Corporate Law |
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0 | Hits : 1102
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I-T returns may require disclosure of all assets
Posted Date : 30-Apr-2013 , 08:18:35 pm | Posted By CASANSAAR
In a bid to counter tax evasion, the Finance Ministry is contemplating making it mandatory for individuals and Hindu Undivided Families (HUFs) to report Indian assets and liabilities in income-tax (I-T) return forms.
"The government is considering to introduce a new income tax return form that will...
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Income Tax |
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0 | Hits : 1346
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Petrol prices slashed by Rs 3 per litre, effective midnight
Posted Date : 30-Apr-2013 , 07:54:32 pm | Posted By CASANSAAR
Oil companies on Tuesday reduced the price of petrol by Rs. 3 per litre effective midnight, without taxes, after international prices cooled.
Oil firms review the price of petrol every two weeks. While petrol price has been deregulated since June 2010 and the price is market determined, t...
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General |
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Enforcement Directorate probing any FEMA violation by Bharti-Walmart
Posted Date : 30-Apr-2013 , 07:48:33 pm | Posted By CASANSAAR
Government today said Enforcement Directorate (ED) is investigating alleged violation of foreign exchange regulation by cash and carry chain Bharti-Walmart.
"On the basis of a reference received from Reserve Bank of India, ED has taken appropriate action to investigate alleged contravention...
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FEMA |
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India cuts tax on interest in govt, corporate debt for foreigners
Posted Date : 30-Apr-2013 , 05:54:23 pm | Posted By CASANSAAR
The government will cut the tax on interest payments to foreigners on government and corporate debt to 5 per cent from up to 20 per cent for a two-year period, in a bid to draw further inflows to bridge its current account deficit and polish its reformist credentials.
The move meets a long-term dem...
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Income Tax |
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0 | Hits : 666
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Finance Bill, Railways Budget passed without debate after Opposition walkout
Posted Date : 30-Apr-2013 , 04:27:18 pm | Posted By CASANSAAR
The passage of the General and Railway budgets was rushed through as the guillotine had to applied to meet the constitutional requirements.
Government today ruled out imposition of wealth tax on agriculture land as the Lok Sabha completed the budgetary exercise in an unusual way with Financ...
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Budget |
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ICAI Study Tour to Sydney and Melbourne September 18-23, 2013
Posted Date : 30-Apr-2013 , 04:24:05 pm | Posted By CASANSAAR
The Australia and India have enjoyed a special bonding in terms of their move to a regional economic operation and in terms of services sector in general and accountancy sector in particular. Both countries share common cultural and linguistic ties as both are part of the Commonwealth of Nat...
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ICAI |
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0 | Hits : 1207
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CA Final & IPCC Examination Dates, Timing, Changes for May 2013
Posted Date : 30-Apr-2013 , 09:18:47 am | Posted By CASANSAAR
CA final exams will be started from 2ndMay 2013 and ended on 16th May 2013
CA IPCC will be started from 3rd May and ended on 15th May 2013
CA IPCC Exam Date Sheet for May 2013
Date
May 2013
Day
Exam
Group
3nd
Friday
...
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Students Zone |
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Law ministry invites application for the post of Judicial Members and Accountant Members in ITAT
Posted Date : 30-Apr-2013 , 09:09:25 am | Posted By CASANSAAR
F. No. A-12023(1)/01/2013-Admn.III(LA)GOVERNMENT OF INDIAMINISTRY OF LAW AND JUSTICEDEPARTMENT OF LEGAL AFFAIRS
Dated : April 17, 2013
CIRCULAR
Subject: Applications for appointment to the posts of Member (Judicial/ Accountant), Income TaxAppellate Tribunal.
...
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Income Tax |
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0 | Hits : 2110
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Finance Bill likely to be passed in Lok Sabha today as stalemate ends
Posted Date : 30-Apr-2013 , 08:51:31 am | Posted By CASANSAAR
Despite the political deadlock over the coal scam, the key Finance Bill is likely to be passed in Lok Sabha on Tuesday. A temporary truce has been achieved between the government and the opposition to pass the money bills.
The crucial Finance Bill can't be delayed beyond Tuesday as per the ...
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Income Tax |
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0 | Hits : 775
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Rs 2-lakh-crore tax dues cannot be recovered
Posted Date : 30-Apr-2013 , 08:40:58 am | Posted By CASANSAAR
The Income Tax Department failed to recover tax revenue of about Rs 1.9 lakh crore in 379 cases as on December 31, 2012, as there were no or insufficient assets in these cases. The unrecovered sum and was almost equal to that collected as personal income tax during 2012-13. Also, according to Centra...
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Income Tax |
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0 | Hits : 909
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Honda's discount offers on Brio, Jazz under CBEC scanner, asked to pay Rs 164 crore more as excise duty
Posted Date : 30-Apr-2013 , 08:39:25 am | Posted By CASANSAAR
Honda Motor Company's endeavour to garner market share in India by offering discounts on models such as the Brio and Jazz has run afoul of tax authorities. The Central Board of Excise & Customs(CBEC) has served a show-cause notice on the Japanese auto major demanding that it pay 1...
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Excise |
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No levy of wealth tax on agricultural land- P Chidambaram
Posted Date : 30-Apr-2013 , 08:35:13 am | Posted By CASANSAAR
Finance Minister P Chidambaram has assured party MPs from the north that there will be no levy of wealth tax on agricultural land, Haryana Chief Minister Bhupinder Singh Hooda said today.Hooda led a delegation of Congress MPs from Punjab, Haryana, Rajasthan and Uttar Pr...
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Income Tax |
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0 | Hits : 752
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Two FDI Proposals Amounting to RS. 89.33 Crore Approved by the Government
Posted Date : 29-Apr-2013 , 10:29:59 pm | Posted By CASANSAAR
Further to para 8 of the Press Release dated March 25, 2013, wherein it was stated that decision of the 6 (Six) proposals will be communicated separately, the Central Government has approved two (2)Proposals of Foreign Direct Investment (FDI) amounting to Rs. 89.33 crore app...
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Finance |
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MCA starts investor awareness campaign against fraud schemes
Posted Date : 29-Apr-2013 , 09:24:58 am | Posted By CASANSAAR
Amid rising instances of common man being duped by illegal money-pooling activities, Ministry of Corporate Affairs has started tapping various platforms, including visual media, to sensitise investors from falling prey to fraudulent investment schemes. To reach out to larger number of...
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Corporate Law |
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0 | Hits : 745
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Banks under RBI scanner for sale of gold investment products
Posted Date : 29-Apr-2013 , 09:22:41 am | Posted By CASANSAAR
The Reserve Bank is looking into sale of gold coins and gold-related investment products by about 30 banks to find out whether their employees are mis-selling such products to customers.
The RBI move follows complaints of customers being induced by bank employees and non-staff members withi...
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Banking |
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No service tax can be levied on chit business: Delhi HC
Posted Date : 28-Apr-2013 , 08:07:58 am | Posted By CASANSAAR
The Delhi High Court has quashed the Centre's notification to levy service tax on chit-fund business, saying the act of a foreman, who conducts auction of chit amount among contributors, does not fall under the definition of "service" provided in the Finance Act.
"We have come to the conclusion tha...
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Service Tax |
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0 | Hits : 962
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Deal sternly with companies indulging in manipulative practises: SC to SEBI
Posted Date : 27-Apr-2013 , 06:48:30 pm | Posted By CASANSAAR
The Supreme Court has askedSEBI to deal sternly with companies indulging in manipulative and deceptive practises to send a clear message that market abuse will not be tolerated in the country. "SEBI, the market regulator, has to deal sternly with companies and their Directors ind...
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SEBI |
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Government announces multi-agency probe into money-pooling frauds
Posted Date : 27-Apr-2013 , 02:24:36 pm | Posted By CASANSAAR
In a multi-agency crackdown against alleged duping of public investors through Ponzi schemes, the governmenttoday said the entities suspected to be engaged in such activities are being probed by Sebi, RBI and the Corporate Affairs Ministry, among others. Besides, the Income ...
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General |
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0 | Hits : 647
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Share valuation: MNCs feel the heat of transfer pricing orders
Posted Date : 27-Apr-2013 , 08:37:30 am | Posted By CASANSAAR
The Vodafone Group has challenged an Income tax Department’s transfer pricing order that sought to bring Rs 1,300 crore to tax for undervaluation in the shares issued by Vodafone India Services to a Mauritius-based group company.
A writ petition challenging the jurisdiction of the tra...
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Income Tax |
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0 | Hits : 833
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