RBI to come up with new model to curb tax evasion
Posted Date : 18-Apr-2013 , 10:16:43 pm | Posted By CASANSAAR
The Reserve Bank Of India has decided to come up with a new model to curb tax evasion, post Cobrapost revelations.
On Wednesday, reacting to RBI’s probe report on Cobrapost sting, banking secretary Rajiv Takru had noted that audit report pointed towards some severe Know Your Customer (KYC) ...
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RBI |
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Govt hikes DA to 80%; to benefit 80 lakh employees, pensioners
Posted Date : 18-Apr-2013 , 10:13:13 pm | Posted By CASANSAAR
Union Cabinet today approved the proposal to increase dearness allowance (DA) to 80 per cent, from existing 72 per cent, benefiting about 50 lakh employees and 30 lakh pensioners of the central government. The hike would be effective from January 1, 2013 and the employees and pensioners wi...
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General |
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Apply online for PF transfer, withdrawals from July 1: EPFO
Posted Date : 18-Apr-2013 , 06:09:51 pm | Posted By CASANSAAR
Over 50 million subscribers of the retirement fund body EPFO will be able to apply online for transfer and withdrawal of their provident fund from July 1, a move aimed at speedy settlement of claims.
“We have decided to set up a central clearance house which will be operational on Jul...
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General |
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CA Final Exam May
Posted Date : 18-Apr-2013 , 03:35:55 pm | Posted By CASANSAAR
Old Center
Existing
Center
No
Roll No.
From
To
Medium
New Center
University
Commmerce of
College, Jawahar
Lal Nehru Marg
Jaipur – 302004
153
132701
134105
133300
134304
...
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Students Zone |
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0 | Hits : 1443
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Income-tax department starts prosecution of TDS defaulters
Posted Date : 18-Apr-2013 , 08:45:49 am | Posted By CASANSAAR
The income-tax department in Mumbai has started prosecution proceedings against 700 entities for non-payment of tax deducted at source, or TDS, in fiscal 2013. The department has found that at least 2,000 entities defaulted on TDS payments in the year ended March.
The total TDS collection for the M...
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Income Tax |
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0 | Hits : 1180
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Banks may raise margin requirement for gold loans
Posted Date : 18-Apr-2013 , 08:34:24 am | Posted By CASANSAAR
Following a sharp fall in gold prices over the past few days, banks have started reviewing the margin requirement for loans against the yellow metal.
After dropping Rs 3,160 over the last three sessions, gold prices on Wednesday fell Rs 90 to Rs 26,350 per 10g, the lowest level since August 17, 201...
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Banking |
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Tax case: Delhi High Court asks Nokia to appeal to Commissioner of Income-tax
Posted Date : 17-Apr-2013 , 10:32:09 pm | Posted By CASANSAAR
Nokia India today withdrew the writ petition filed in the Delhi High Court against the income tax department's demand notice of over Rs. 2,000 crore served on it for alleged evasion of taxes in its transactions here.
The High Court today directed Nokia to take their appeal to Commissioner...
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Income Tax |
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Government drafting law on direct selling businesses to protect consumers
Posted Date : 17-Apr-2013 , 10:01:18 pm | Posted By CASANSAAR
The Centre today said it is drafting a policy on the direct-selling industry to address the concerns of consumers and strengthen the credibility of the sector that is providing huge employment opportunity. The industry sells various consumer products directly to customers rather than via retail...
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General |
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CA staffer carrying Rs 1 crore arrested
Posted Date : 17-Apr-2013 , 08:56:39 am | Posted By CASANSAAR
A 46-year-old employee of a Chartered Accountant was held with around Rs 1 crore, which he allegedly could not account for, in Grant Road area Tuesday evening. Police said the accused, Mohammad Islam Shaukat Ali Khan, was traveling in a BEST bus when it was stopped for a check at a nakabandi.
...
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ICAI |
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1 | Hits : 3153
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Chartered Institute of Management Accountants launches case study competition
Posted Date : 17-Apr-2013 , 08:53:46 am | Posted By CASANSAAR
Chartered Institute of Management Accountants (CIMA), a professional body of management accountant, is set to launch CIMA Whiz - a case-study competition for working professionals. The competition aims to bring out the best of analytical and decision making skills amongst business managers and make ...
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Income Tax |
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Gold loan companies extends fall, Manappuram Finance at 44-month low
Posted Date : 17-Apr-2013 , 08:45:57 am | Posted By CASANSAAR
Shares of companies engaged in gold loan business like Muthoot Finance and Manappuram Finance have extended their yesterday’s fall and trading lower by up to 10% after the sharp slide in gold prices.
Manappuram Finance is locked in maximum lower circuit of 10% for a second consecutive da...
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Shares & Stock |
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Sebi seeks suggestions from public on insider trading norms
Posted Date : 17-Apr-2013 , 08:42:31 am | Posted By CASANSAAR
Seeking to overhaul two-decade old set of rules for insider trading in the stock market, Sebi today said it has decided to seek inputs from the general public for drafting the new regulations in this regard.
The public inputs and suggestions have been invited on various aspects of the issue, includ...
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SEBI |
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CBDT asks CCITs to compile a list of all quality scrutiny assessments made during FY 2012-13 to keep a track on it
Posted Date : 16-Apr-2013 , 09:53:08 pm | Posted By CASANSAAR
COMPILATION OF QUALITY SCRUTINY ASSESSMENT CASES COMPLETED DURING FINANCIAL YEAR 2012-13
LETTER [F.NO. 225/65/2013/ITA-II], DATED 11-4-2013
I am directed to draw your kind attention towards Board's decision to review the Quality of assessments completed by the Assessing Officers during financ...
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Income Tax |
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NRI devotee Ramalinga Raju from US donates Rs 16 crore to Balaji temple
Posted Date : 16-Apr-2013 , 07:02:37 pm | Posted By CASANSAAR
In a princely offering, an NRI devotee from US today donated Rs 16 crore to the famous hill shrine of Lord Venkateswara at nearby Tirumala. M Ramalinga Raju, an entrepreneur based in the United States, handed over the offering in the form of a demand draf...
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General |
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0 | Hits : 892
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Earthquake at Iran-Pakistan border, tremors felt in Delhi and parts of northern India
Posted Date : 16-Apr-2013 , 04:43:58 pm | Posted By CASANSAAR
Tremors were reported in Delhi, Gurgaon and other parts of northern India this afternoon after an earthquake of 7.8 magnitude struck the Iran-Pakistan border region.Mild tremors were reported in Chandigarh, where people said furniture shook for about half a minute.
Tremors were also r...
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General |
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Investment pacts can't be subject to foreign jurisdictions: FM
Posted Date : 16-Apr-2013 , 02:40:04 pm | Posted By CASANSAAR
Finance Minister P Chidambaram has made it clear that any bilateral investment protection agreement has to be subject to jurisdiction of domestic legal institutions and India will not allow it to be subjected to foreign courts or tribunals.
"We cannot allow highest court of the land to be subjected...
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International Business |
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No Change in the Schedule of The Chartered Accountants Examinations - May 2013
Posted Date : 16-Apr-2013 , 02:31:55 pm | Posted By CASANSAAR
April 16, 2013
NO CHANGE IN THE SCHEDULE OF THE CHARTERED ACCOUNTANTS EXAMINATIONS - MAY 2013.
Students appearing for Intermediate (Integrated Professional Competence) Examination may note that, owing to the Bye Elections to Ward 43 – Nangloi East and Ward 256 Yamuna Vihar of...
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Students Zone |
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SC orders banks to deposit Rs 400 crore
Posted Date : 16-Apr-2013 , 08:33:21 am | Posted By CASANSAAR
The Supreme Court, on Monday, ordered nationalised banks - Punjab National Bank, Union Bank of India and the Indian Bank - to deposit a sum of Rs 400 crore within 15 days with the Prothonotary and Master of Bombay High Court as part of the bank guarantee money due to the Boa...
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Banking |
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1 | Hits : 961
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Gold price crashes to over 15-mnth low; tumbles to Rs 27,600
Posted Date : 15-Apr-2013 , 08:18:27 pm | Posted By CASANSAAR
Gold prices Monday tumbled by Rs 750 to Rs 27,600 per 10 grams to hit an over 15-month low in the national capital due to persistent selling by stockists triggered by a heavy sell-off in global markets.
The precious metal, which had suffered the most ever in the previous session by losing Rs 1,250,...
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General |
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0 | Hits : 906
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Petrol price cut by Re 1 per litre, effective midnight
Posted Date : 15-Apr-2013 , 06:47:43 pm | Posted By CASANSAAR
State-owned oil marketing companies today cut the price of petrol by Rs. 1 per litre, without taxes, effective midnight tonight, while the price of diesel was left unchanged, Indian Oil said in a release.
Oil firms review the price of petrol every two weeks. While petrol is deregulated an...
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General |
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Revised Announcement for Empanelment as a Technical Reviewer with the Quality Review Board
Posted Date : 15-Apr-2013 , 05:11:43 pm | Posted By CASANSAAR
Dated: 14th February, 2013
Revised Announcement for Empanelment as a Technical Reviewer with the Quality Review Board
The Government of India has, in exercise of the powers conferred by Sec. 28A of the Chartered Accountants Act, 1949, constituted a Quality Review Board to perfor...
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ICAI |
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An Agreement (DTAA) and Protocol Signed Between India and Malta for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion With Respect to Taxes on Income
Posted Date : 15-Apr-2013 , 05:07:46 pm | Posted By CASANSAAR
The Double Taxation Avoidance Agreement (DTAA) and the Protocol between the Republic of India and Malta for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on income is in force since 8th February, 1995. Both India and Malta have renegotiated the Agree...
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Income Tax |
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Finmin asks banks to bring down net NPA to 1% by Mar '14
Posted Date : 14-Apr-2013 , 09:03:05 pm | Posted By CASANSAAR
Setting a stiff target for all public sector banks, the Finance Ministry has directed them to expedite the recovery process and bring down net NPAs to 1 % of their total advances by the end of 2013-14 fiscal."We have asked banks to bring down their net NPA to 1 % of the total advances by March 201...
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Banking |
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I-T dept to 'name and shame' habitual tax evaders
Posted Date : 14-Apr-2013 , 08:18:59 pm | Posted By CASANSAAR
The Income Tax department has decided to name and shame "chronic" tax defaulters by publicising their names and addresses.
It is in the process of finalising the procedures of compiling the names and cases pertaining to habitual tax dodgers and subsequently uploading them on its website.
"The depa...
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Income Tax |
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0 | Hits : 963
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RBI mulls easing fund transfer norms for new cos to boost FDI
Posted Date : 14-Apr-2013 , 08:17:46 pm | Posted By CASANSAAR
The Reserve Bank is considering easing the fund transfer norms for incorporation of companies by non-residents so as to promote foreign direct investment.
Under the new norms being contemplated by the RBI, consultants will be allowed to open bank accounts for the specific purpose of incorporating a...
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RBI |
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RBI to cancel licences of 26 loss-making cooperative banks
Posted Date : 14-Apr-2013 , 08:13:31 pm | Posted By CASANSAAR
The Reserve Bank of India will shortly cancel licences of 26 loss-making cooperative banks, including 16 in Uttar Pradesh, Deputy Governor K C Chakrabarty today said.
A capital of Rs2,000 crore is required for running 16 cooperatives banks in the state and RBI may not cancel the licenses of...
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RBI |
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Google, Yahoo needn't pay tax on ad income - ITAT
Posted Date : 13-Apr-2013 , 08:20:56 am | Posted By CASANSAAR
ITAT bench spares foreign websites in landmark case.
In a landmark ruling, the Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has ruled that no tax is deductible on payments made by Indian companies� to� Google and Yahoo for online advertisement on...
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Income Tax |
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I-T withdraws charitable status of Ramdev
Posted Date : 13-Apr-2013 , 08:15:02 am | Posted By CASANSAAR
Yoga guru Baba Ramdev, it seems, is engaged in some ‘exercise’ to save one of his trust’s financial health. The Income Tax department has withdrawn charitable status enjoyed by Ramdev’s Divya Yog Mandir Trust, based in hilly Haridwar district of Uttarakhand, to raise a ...
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Income Tax |
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0 | Hits : 1187
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Revised Draft CA Training Guide for Comments - ICAI
Posted Date : 12-Apr-2013 , 09:35:06 pm | Posted By CASANSAAR
April 12, 2013
In view of the amendments to Chartered Accountants Regulations, 1988, practical Training Guide for Articled/ Audit Assistants has been revised. Students, Members and other Stakeholders are requested to offer their comments, if any. While submitting, you are required to stat...
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Students Zone |
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1 | Hits : 1808
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Now, file RTI applications and pay fees online
Posted Date : 12-Apr-2013 , 07:58:31 pm | Posted By CASANSAAR
In a step towards greater transparency, the government has started a unique facility of submitting RTI applications and fees online.
The portal -- www.rtionline.gov.in -- has been created with an aim to help people exercise their right to seek information through online medium, sa...
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General |
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