Govt warning yields results, Feb service tax mop up jumps 44%
Posted Date : 31-Mar-2013 , 07:26:40 pm | Posted By CASANSAAR
Government's stern warning to service tax evaders appears to have yielded results with the realisation rising to Rs 10,453 crore in February, 44 per cent more than collections in the previous month.
The revenue department had collected only Rs 7,255 crore as service tax in January.
...
Continue Reading...
Category :
Service Tax |
Comments :
0 | Hits : 804
|
 |
FinMin asks PSU banks to limit loan write-offs
Posted Date : 31-Mar-2013 , 07:23:47 pm | Posted By CASANSAAR
The Finance Ministry has asked public sector banks to limit the amount of loan write-offs and sought details of recoveries made by them in the six years ending 2011-12 with an aim to improve the finances of PSU lenders.
It has also asked the banks to ensure that the amount written off b...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 773
|
|
Service tax amnesty scheme likely to be relaxed
Posted Date : 31-Mar-2013 , 09:52:59 am | Posted By CASANSAAR
The scope of service tax amnesty scheme - Voluntary Compliance Encouragement Scheme (VCES) may be relaxed and expanded to include current assesses.
According to officials, the scheme as announced in the Union Budget 2013 was only for non-filers who are currently out of the service tax net. Bu...
Continue Reading...
Category :
Service Tax |
Comments :
0 | Hits : 1232
|
|
Now, auditors doubt Deccan Chronicle Holdings Limited
Posted Date : 30-Mar-2013 , 06:42:10 pm | Posted By CASANSAAR
The auditors of the crisis-ridden Deccan Chronicle Holdings Limited (DCHL) have raised serious doubts over the company's ability to continue as a 'going concern' in light of the various uncertainties hanging over the company. These doubts have been expressed in the audited report...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 1078
|
|
List of CA Firms Appointed as Central Statutory Auditors in Public Sector Banks for FY 2012-13
Posted Date : 30-Mar-2013 , 08:02:38 am | Posted By CASANSAAR
Names of Audit Firms approved for appointment as Central Statutory Auditors in 25 Public Sector Banks for the year 2012-13 :-
Allahabad Bank, Kolkata
1 M/s N K Bhargava & Co, New Delhi
2 M/s M C Jain &am...
Continue Reading...
Category :
Auditing |
Comments :
1 | Hits : 6728
|
|
RBI may seek details on loans to DCH
Posted Date : 30-Mar-2013 , 08:01:08 am | Posted By CASANSAAR
Canara Bank, ICICI Bank, Axis Bank and 10 other lenders to Deccan Chronicle Holdings (DCH) are likely to soon meet soon to decide on their future course of action. The ailing media group, which publishes Deccan Chronicle, Asian Age, Financial Chronicle and Andhra Bhoomi newspapers, has defaulted on ...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 852
|
|
Income-tax department to issue draft order on Rs 15000 crore tax liabilty of Shell India
Posted Date : 30-Mar-2013 , 07:51:56 am | Posted By CASANSAAR
The income-tax department is all set to issue a draft order estimating a tax liability of more than Rs 15,000 crore on Shell India due to alleged undervaluation of shares when it raised money from its global parent Shell Gas BV a few years ago. The Transfer Pricing wing of the I-T departme...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 824
|
|
CBDT streamlines taxation rules for IT sector
Posted Date : 29-Mar-2013 , 08:39:00 am | Posted By CASANSAAR
Seeking to encourage Research and Development (R&D) activities in the IT sector, theCBDT today issued circulars to streamline the taxation rules in line with the recommendations of theRangachary Committee. The circulars, issued with relation to the applicabilit...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 896
|
|
RBI defers Basel-III norms for forex derivatives
Posted Date : 29-Mar-2013 , 07:51:42 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Thursday postponed the implementation of Basel-III regulations for the currency derivatives segment to next January, pending resolution of norms regarding trade settlement, even as it said the new capital adequacy requirements could kick in from Sunday.
"In view o...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 832
|
|
India and Liechtenstein sign tax information agreement
Posted Date : 29-Mar-2013 , 07:47:03 am | Posted By CASANSAAR
Amid government efforts to track black money stashed abroad, India today signed a Tax Information Exchange Agreement with Liechtenstein. "India and Liechtenstein have signed a Tax Information Exchange Agreement (TIEA) today at Bern, Switzerland," the Finance Ministry sa...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 694
|
|
CBEC Offices to Remain open on 29th, 30th & 31stmarch, 2013 (Proposed Nationwide Strike Withdrawn)
Posted Date : 28-Mar-2013 , 08:20:35 pm | Posted By CASANSAAR
All Offices under the Central Board of Excise and Customs (CBEC) shall be open on 29th, 30th & 31st March, 2013 observing their normal office hours, as a part of trade facilitation measure. Reserve Bank of India (RBI) has also decided that all designated branches of agency banks and RBI off...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 733
|
|
Nokia gets Rs 2,000 Cr notice from I-T, bags interim stay
Posted Date : 28-Mar-2013 , 08:00:52 pm | Posted By CASANSAAR
The income tax department has slapped a Rs 2,000 crore tax notice on Finnish mobile firm maker Nokia for alleged tax evasion on royalty payment by the Indian arm to the parent for downloading of software to manufacture mobile devices.
Nokia, in turn, has got an interim stay from the Delhi High cour...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 828
|
|
Biggest cyber attack in history' slows down world wide web
Posted Date : 28-Mar-2013 , 01:09:00 pm | Posted By CASANSAAR
A huge cyber-attack dubbed as “the biggest” of its kind in history slowed the Internet around the world.
Internet spam filter Spamhaus, a site that ‘black-lists’ service providers suspected of offering refuge for spammers, is the target of the unique attack. Spamh...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 1157
|
|
BRICS bank could become future World Bank
Posted Date : 28-Mar-2013 , 08:45:59 am | Posted By CASANSAAR
The BRICS bank, the setting up of which was approved by the group's leaders today, could become a World Bank in future due to the increasing influence of emerging countries, chairman of Goldman Sachs Asset Management said today.
"If, in fact, the BRICS bank is announced, this will be the beginning ...
Continue Reading...
Category :
International Business |
Comments :
0 | Hits : 887
|
|
Tax officials told to crack down harder on black money
Posted Date : 28-Mar-2013 , 08:41:24 am | Posted By CASANSAAR
Tax authorities will intensify their efforts to crack down on unaccounted-for money stashed overseas by seeking information from their counterparts in other countries. A recent letter issued by the Chairperson, Central Board of Direct Taxes (CBDT) bears testimony to this intention.
To en...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 728
|
|
Service tax evasion runs up to Rs. 188 crore
Posted Date : 27-Mar-2013 , 05:36:25 pm | Posted By CASANSAAR
A number of companies in the real estate sector, hotel industry, security services and recruitment services operating from Bangalore have been found to be evading payment of service tax. The audit and anti-tax evasion teams of the Department of Service Tax have detected these evasions running up to ...
Continue Reading...
Category :
Service Tax |
Comments :
0 | Hits : 831
|
|
SEBI asks Subrata Roy to submit asset, bank a/c and tax details
Posted Date : 26-Mar-2013 , 09:02:53 pm | Posted By CASANSAAR
SEBI Tuesday summoned Sahara group chief Subrata Roy and three other top executives on April 10, to finalise the list of assets to be sold for refund of an estimated Rs 24,000 crore to about three crore investors.
Ahead of their personal appearance, Roy and others would need to submit details of al...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 823
|
|
Postponement of CA Examination scheduled on 4th & 5th May 2013 in the State of Karnataka
Posted Date : 26-Mar-2013 , 06:31:07 pm | Posted By CASANSAAR
No.13-CA(Exam)/M/2013/II: In partial modification of the Institute’s Notification No. 13-CA(Exam)/M/2013 dated 19th December, 2012, it is notified for general information that in view ofthe Election to the Karnataka State Legislative Assembly, Group – 1, Paper 2, Strategic FinancialManag...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 921
|
|
Exposure Draft Financial Instruments: Expected Credit Losses (Last date for sending comments: April 30, 2013)
Posted Date : 26-Mar-2013 , 06:17:16 pm | Posted By CASANSAAR
The main objective in developing this proposal is to provide users of financial statements with more useful information about the expected credit losses on financial assets and on commitments to extend credit. This objective is addressed through the proposed model, which provides information about e...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 651
|
|
Government Approves 6 Proposals of Foreign Direct Investment Amounting to Rs. 732.77 Crore Approximately
Posted Date : 26-Mar-2013 , 03:03:16 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on March 6, 2013, the Government has approved six (6) Proposals of Foreign Direct Investment (FDI) amounting toRs.732.77 croreapproximately.
Details of Proposals considered in the Foreig...
Continue Reading...
Category :
International Business |
Comments :
0 | Hits : 774
|
|
Service Tax NEW ST-3 for July to September 2012 made Available
Posted Date : 26-Mar-2013 , 11:35:51 am | Posted By CASANSAAR
Modified version of the Service Tax Return (ST-3) for the quarter July-September, 2012 is now available for uploading to ACES . Only offline version is available and there is no online version.
The utility needs to be downloaded afresh from ‘DOWNLOADS’ section of ACES ...
Continue Reading...
Category :
Service Tax |
Comments :
0 | Hits : 2217
|
|
Bankwise List of CA firms Approved for Statutory Bank Branch Audit for FY 2012-13
Posted Date : 26-Mar-2013 , 08:29:11 am | Posted By CASANSAAR
Plz find below the Bank wise list of CA firms which are approved / Empaneled for Statutory Branch Audit for Financial Year 2012-13. Plz click on any bank which you want to check.
Public Sector Banks – 2012-13
Allahabad Bank
Andhra Bank
Bank o...
Continue Reading...
Category :
Auditing |
Comments :
1 | Hits : 23932
|
|
Tech Mahindra extends merger with Mah Satyam by 6 months
Posted Date : 26-Mar-2013 , 08:28:53 am | Posted By CASANSAAR
With various hurdles, including legal ones, hampering its merger with Tech Mahindra, the board of Satyam Computer Serviceshas extended the validity of the scheme of amalgamation by six months till September 30.
Bombay High Court has already approved the scheme, but the Andhra Pradesh High C...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 788
|
|
Loans to PPP infra projects to be treated as secure loans: RBI
Posted Date : 26-Mar-2013 , 08:13:03 am | Posted By CASANSAAR
Gujarat, Madhya Pradesh, Bihar and Karnataka, the states that are pulling out all stops to increase infrastructure investment especially in the roads, ports and some categories of the power sector, are likely to be the most immediate political beneficiaries of a purely economic move by the Reserve B...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 743
|
|
Dry coconut is now
Posted Date : 26-Mar-2013 , 08:04:47 am | Posted By CASANSAAR
Days ahead of the ruling alliance MLAs heading to Goa for their chintan shivir comes a bonanza for coconut-lovers in Punjab. The feisty arguments of former BJP minister Manoranjan Kalia that dry coconut also be treated as a fruit not dry fruit led to Punjab Finance Minister Parminder Singh Dhindsa a...
Continue Reading...
Category :
VAT |
Comments :
0 | Hits : 884
|
|
Addl Income Tax Commissioner trapped accepting Rs 30 lakh bribe: CBI
Posted Date : 26-Mar-2013 , 08:03:05 am | Posted By CASANSAAR
An Additional Income Tax Commissioner in Gandhinagar was today caught by the Central Bureau of Investigation (CBI) for allegedly demanding and accepting a bribe of Rs 30 lakh.
"C S Bharti, IRS 1994 batch, Additional Commissioner, Income tax, Gandhinagar was trapped this evening for demand a...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1015
|
|
Revision of Interest Rates for Small Savings Schemes With Effect from 1ST APRIL,2013
Posted Date : 25-Mar-2013 , 10:05:11 pm | Posted By CASANSAAR
Based on the decisions taken by the Government on the recommendations of the Shyamala Gopinath Committee for Comprehensive Review of National Small Savings Fund (NSSF), the interest rates for small saving schemes are to be notified every financial year, before 1st April of that year. Accordingl...
Continue Reading...
Category :
Finance |
Comments :
0 | Hits : 843
|
|
Competition Commission of India Nominated for Global Competition Review Awards 2013
Posted Date : 25-Mar-2013 , 09:56:43 pm | Posted By CASANSAAR
The Competition Commission of India (CCI) has been nominated for ‘Global Competition Review (GCR) Awards 2013’ under the category of “Agency of the Year-Asia-Pacific, Middle East & Africa”. It is very first time that the CCI has been nominated for this internationally pre...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 5569
|
|
Income Tax department to send letters to non-filers
Posted Date : 25-Mar-2013 , 04:46:38 pm | Posted By CASANSAAR
Encouraged by the earlier results the Finance Ministry on Monday said it will continue to send letters to assessees who do not file income tax return.
“We have been sending letters. We are getting results. The number of returns filed has been showing an increase. We intend to continue with th...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1005
|
|
Announcement regarding Expert Panel for Addressing Bank Branch Audit Related Queries for the Financial Year 2012-13
Posted Date : 25-Mar-2013 , 02:52:37 pm | Posted By CASANSAAR
The bank audit season is around the corner. Given the fact that the banking industry is typical in terms of its geographical and customer spread, the volume and varied nature of products and services offered, coupled with the strict constraints for completing the audits, the members, many a ...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 890
|
|
|
