EPFO launches e-Passbook service
Posted Date : 01-Dec-2012 , 07:50:30 am | Posted By CASANSAAR
Over 50 million PF subscribers can now access their accounts online asretirement fund body EPFO launched its e-Passbook service today. Active subscribers whose electronic challan-cum-return is already uploaded, candownload their e-Passbook every month under the service launched by the EPFO...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 804
|
 |
A Personal Appeal to all CAs
Posted Date : 30-Nov-2012 , 08:59:30 am | Posted By CASANSAAR
Dear friends!
Nothing is permanent except change! the time for Change has come for ICAI...Chnage in policy...in leadership...in thought..in system...,
This time we all members to be very careful and elect the true & mature leaders for the central and regional council. We appeal all the CAs n...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 867
|
|
Non-compete fees can be treated as deductible expense: Tribunal
Posted Date : 30-Nov-2012 , 08:32:34 am | Posted By CASANSAAR
In a landmark judgment the Mumbai bench of the Income Tax Appellate Tribunal has said that non-compete fees paid by an acquiring company to exiting promoters can be treated as an expense if the fees are not central to the deal. In the past the income tax department considered suc...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 368
|
|
87 companies under scanner for multi-level marketing schemes
Posted Date : 30-Nov-2012 , 08:07:21 am | Posted By CASANSAAR
A total of 87 companies have come under the government scanner for allegedly running illegal multi-level marketing (MLM) investment schemes and seven of them are being probed for possibly serious frauds.
The government has ordered inspection of accounts of remaining 80 companies f...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 369
|
|
Rs 69,465 cr service tax collected in first 7 months of FY 12-13
Posted Date : 30-Nov-2012 , 08:01:31 am | Posted By CASANSAAR
Service tax collection during the first seven months of this fiscal stood at Rs 69,465 crore, Parliament was informed today.
"During the period from the month of April to October 2012, total amount of service tax collected was Rs 69,465 crore," Finance MinisterP Chidambaram said i...
Continue Reading...
Category :
Service Tax |
Comments :
0 | Hits : 300
|
|
SAT dismisses Sahara group appeal against Sebi
Posted Date : 30-Nov-2012 , 07:55:33 am | Posted By CASANSAAR
The Securities Appellate Tribunal (SAT) on Thursday refused to accept custody of Sahara Group’s Rs 17,400 crore plus interest with the SAT registry, instead of SEBI.
Dismissing the appeal, the tribunal said, “We fail to understand how this tribunal gets the jurisdictio...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 266
|
|
Status of NPAs in Different Banks
Posted Date : 30-Nov-2012 , 07:48:50 am | Posted By CASANSAAR
The details of Bank Group-wise ratio of Gross Non-Performing Assets (GNPAs) to Gross Advances as on 31st March, 2012 and as on 30th September, 2012 are as under:
Banks
31st March, 2012
*30th Sept., 2012
Nationalised Banks
2.67%
3.50%
Sta...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 472
|
|
GAAR to be effective from Assessment year 2014-15
Posted Date : 30-Nov-2012 , 07:48:00 am | Posted By CASANSAAR
General Anti-Avoidance Rules The GAAR (General Anti-Avoidance Rule) provisions have not been put on hold.The Finance Act, 2012 had provided that these provisions shall be effective from the 1st day of April, 2014 and apply to Assessment year 2014-15 onwards.
One of the r...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 271
|
|
Identity proof must for sleeper-class passengers from December 1
Posted Date : 29-Nov-2012 , 10:53:59 pm | Posted By CASANSAAR
It will be mandatory for sleeper- class train passengers to carry identity proof from December 1, this year as Railways firmed up steps to prevent misuse of tickets by touts and facilitate hassle-free travel by bonafide people.From Saturday (December 1), passengers failing ...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 315
|
|
Norms For Loan Securitization by NBFCs
Posted Date : 29-Nov-2012 , 10:51:15 pm | Posted By CASANSAAR
RBI has informed that to prevent unhealthy practices surrounding securitization and assignment of loans and to allow for redistribution of credit risk to a wide spectrum of institutions, it has issued revised guidelines on ‘securitization transactions’ on August 21, 2012 which inter-alia...
Continue Reading...
Category :
Finance |
Comments :
0 | Hits : 289
|
|
Govt's guidelines to prevent misuse of Sec 66
Posted Date : 29-Nov-2012 , 10:50:08 pm | Posted By CASANSAAR
Yielding to public protests on the recent controversial arrest of some persons for their Facebook posts, Government today came out with guidelines where a police officer no less than the rank of DCP can sanction prosecution.
In metropolitan cities, such an approval would have to be given by...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 248
|
|
VAT on Maggi : Nestle moves HC
Posted Date : 29-Nov-2012 , 08:40:32 am | Posted By CASANSAAR
FMCG major Nestle India Ltd has moved the Gujarat high court questioning the decision of the state commercial tax department of levying value added tax (VAT) on sale of its noodles 'Maggi' in the state. The company has contended that levying VAT on its noodles is a deviation from an earlie...
Continue Reading...
Category :
VAT |
Comments :
0 | Hits : 924
|
|
Initiate penal action against defaulters: Govt to banks
Posted Date : 29-Nov-2012 , 08:38:55 am | Posted By CASANSAAR
Worried over rising bad loans, the government has asked state-owned banks to crack the whip on wilful defaulters and initiate penal proceedings against them.
The issue of initiating penal action figured in meetings of the bankers with Finance Minister P Chidambaram.
"It i...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 354
|
|
Govt plans 2% raise in excise duty, service tax
Posted Date : 29-Nov-2012 , 08:37:01 am | Posted By CASANSAAR
The finance ministry is considering a proposal to raise excise duty and service tax by two per cent to 14 per cent each in the Union Budget for 2013-14. The move is likely to help the ministry collect about Rs 30,000 crore. Certain exemptions may also be rolled back.
&ld...
Continue Reading...
Category :
Excise |
Comments :
0 | Hits : 637
|
|
Indian companies second worse in world on fraud after Africa
Posted Date : 29-Nov-2012 , 08:34:20 am | Posted By CASANSAAR
India has the highest number of fraud-hit companies after Africa, according to a report by global advisory firm Kroll.
Fraud risks in India remain above the global average and, outside Africa (77 per cent), the country has seen the highest number of companies affected by frauds at 68 per ce...
Continue Reading...
Category :
International Business |
Comments :
0 | Hits : 382
|
|
HSBC secret accounts: IT dept to begin prosecution action
Posted Date : 29-Nov-2012 , 08:30:56 am | Posted By CASANSAAR
The income tax (I-T) department has decided to begin prosecution against those having “substantial” amounts in their bank accounts in HSBC’s Geneva branch.
The department has written to the finance ministry to suggest a benchmark for funds held on the basis of wh...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 267
|
|
Notice sent to Ramdev for alleged service tax evasion
Posted Date : 29-Nov-2012 , 08:28:09 am | Posted By CASANSAAR
A demand notice has been sent by the authorities to trusts run by Yoga guru Ramdev, for alleged service tax evasion on about Rs 1 crore received from a private TV broadcaster for airing his programme.
Official sources said a demand notice was sent to Patanjali Yoga Peeth and Divya Yoga Trus...
Continue Reading...
Category :
Service Tax |
Comments :
0 | Hits : 364
|
|
SEBI announces additional KYC norms for investors effective December 1, 2012
Posted Date : 29-Nov-2012 , 08:23:33 am | Posted By CASANSAAR
SEBI has made a few changes to theKYC norms after January 1, 2012. These changes will be effective from December 1, 2012. So all investors who have complied with their KYC norms prior to January 1, 2012 need to complete the additional KYC formalities.What you need to doIf y...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 308
|
|
ICAI clarifies on Nagpur land Deal
Posted Date : 28-Nov-2012 , 08:33:05 am | Posted By CASANSAAR
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
Facts on the proposed project of Centre of Excellence at Nagpur
This Statement of Facts as regards Centre of Excellence (COE) project at Nagpur is being issued for the general information of members in view of the ongoing di...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 696
|
|
RBI amendments in FEMA to allow FDI in multi-brand retail may spell more trouble for UPA
Posted Date : 28-Nov-2012 , 08:30:38 am | Posted By CASANSAAR
Government may face fresh trouble in Parliament over the recent RBI amendments in FEMA to allow FDI in multi-brand retail, with CPI(M) today saying these have to be voted within a time-frame as laid down in law. The statement by senior CPI(M) leader Sitaram Yechury came on the fourth ...
Continue Reading...
Category :
International Business |
Comments :
0 | Hits : 314
|
|
Companies with turnover of Rs 100 crore can set up tech institutes: Govt
Posted Date : 28-Nov-2012 , 08:28:03 am | Posted By CASANSAAR
Private and public companies with a turnover of at least Rs 100 crore per year over a 3-year period have been allowed to set up technical institutes from the next academic session to meet the increasing demand of such institutes.
They can establish new technical institution in eng...
Continue Reading...
Category :
International Business |
Comments :
0 | Hits : 381
|
|
Govt to reintroduce sector-specific tax filing codes from December
Posted Date : 28-Nov-2012 , 08:24:10 am | Posted By CASANSAAR
The government will reintroduce sector-specific tax filing codes from December, reversing the single-code system it launched five months ago.
To make tax filing easy under a new service-tax regime that covered more sectors than before, the central board of excise and customs devised one...
Continue Reading...
Category :
Service Tax |
Comments :
0 | Hits : 326
|
|
Fly to Vrindavan in a Pawan Hans chopper, service starts today
Posted Date : 28-Nov-2012 , 08:20:53 am | Posted By CASANSAAR
The Civil Aviation Ministry on Tuesday announced the start of a chopper service between Delhi and Vrindavan, Uttar Pradesh. The service, a joint effort with UP Tourism, will start from Wednesday.
The one-way ticket to the holy city will cost Rs 3,900 per person, while the ret...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 315
|
|
ICAI invites applications from highly competent candidates for the position of Joint Secretary (HUMAN RESOURCES)
Posted Date : 27-Nov-2012 , 10:45:31 pm | Posted By CASANSAAR
ICAI, the second largest accounting body in the world, set up by an Act of Parliament, is looking for a high profile and multi-faceted personality with leadership qualities, excellent communication, interpersonal and motivational skills for the position of Joint Secretary (Human Resources). This is ...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 423
|
|
Satyam merger swap ratio opposed in HC
Posted Date : 27-Nov-2012 , 10:43:44 pm | Posted By CASANSAAR
A group of minority shareholders of Mahindra Satyam (formerly Satyam Computer Services) has filed a petition in the Andhra Pradesh High Court opposing, the proposed share-swap ratio, among other things, for merger with Tech Mahindra.
The petitioners have requested the court to revise...
Continue Reading...
Category :
Merger & Acquisitions |
Comments :
0 | Hits : 263
|
|
RBI relaxes borrowing rules for mobile auction winners
Posted Date : 27-Nov-2012 , 08:53:25 am | Posted By CASANSAAR
The Reserve Bank of India ( RBI) has relaxed overseas borrowing rules for successful bidders in the country's cellphone airwaves auction, making it easier for them to raise money to pay the cash-strapped government.
The RBI said on Monday the winning bidders could use short-t...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 239
|
|
How companies are misusing ‘share application money’ to guise questionable financial practices
Posted Date : 27-Nov-2012 , 08:27:15 am | Posted By CASANSAAR
From non-descript companies that bagged coal blocks to shell companies related to BJP president Nitin Gadkari's business interests, the use of 'share application money' is emerging as a convenient way for promoters to channel equity investments into their companies to guise questionable, p...
Continue Reading...
Category :
Finance |
Comments :
0 | Hits : 792
|
|
I-T dept extends filing deadline for ITR-V forms
Posted Date : 27-Nov-2012 , 08:21:53 am | Posted By CASANSAAR
The Director General of Income Tax (System) as per powers assigned to it under clause (ii) of Para 14 read with clause (7) of Para 4 of the ‘Centralized Processing of Returns Scheme, 201 T, issued as per C B D T Notification No. SO 16(E) dated 4.1.2012, has decided to extend the time limit for...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 710
|
|
Banking services on your palm Just dail a no. from any handset
Posted Date : 27-Nov-2012 , 08:16:28 am | Posted By CASANSAAR
Checking your bank balances or placing a request for a cheque book has been made as simple and hassle-free as dialling *99# from your mobile.
Just dial *99# from your mobile of any make, every banking service, be it fund transfer or checking balances, comes at platter.
Formally rol...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 620
|
|
No objection from Cos on CSR norms in Companies Bill: Govt
Posted Date : 26-Nov-2012 , 11:12:11 pm | Posted By CASANSAAR
The Corporate Affairs Ministry today said it has not received any objection from the companies to the provision of spending of at least 2 per cent of net profit on corporate social responsibility (CSR) activities in the Companies Bill."The ministry has not received any communicat...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 249
|
|
|
