Penal action against 578 companies in 3 yrs for accounting errors
Posted Date : 22-Mar-2013 , 08:23:47 am | Posted By CASANSAAR
Penal action has been taken against 578 companies in the last three years for irregularities in their balance sheets, government said today. Prosecutions were filed against 54 companies and their officers in the year 2011-12, Minister of Corporate Affairs Sachin Pilot informed th...
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Corporate Law |
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RBI to banks: Keep tax collecting branches open in Mar 29-31
Posted Date : 22-Mar-2013 , 08:21:15 am | Posted By CASANSAAR
The Reserve Bank today asked banks to keep open their designated tax collecting branches on March 29, 30, 31 to facilitate tax collection. March 29 is a holiday on account of Good Friday while March 31 is Sunday. "We have been requested by the Government of India and so...
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Income Tax |
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Systems to prevent money laundering in India perfect, says RBI
Posted Date : 21-Mar-2013 , 05:06:43 pm | Posted By CASANSAAR
The Reserve Bank today sought to downplay the money-laundering allegations against three private sector banks, saying the country has a "perfect" system to prevent such offences and that not a single such transaction took place in the sting operation.
The country's three largest private banks -- IC...
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Banking |
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Jaya govt presents tax-free budget in Tamil Nadu
Posted Date : 21-Mar-2013 , 02:08:03 pm | Posted By CASANSAAR
Tamil Nadu Government today presented a tax-free budget for 2013-14, proposing 'prudent fiscal management". The state government came heavily on the Union Government for not taking any steps to control fiscal deficit and to boost the growth.
Finance Minister O Panneerselvam, who presented the budge...
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Budget |
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SC upholds Sanjay Dutt's conviction, sentences him to five years in jail
Posted Date : 21-Mar-2013 , 12:10:14 pm | Posted By CASANSAAR
The Supreme Court awarded five years jail sentence to the actor Sanjay Dutt in the 1993 Mumbai blasts case.
Dutt had been given six years jail term by the TADA court. The SC reduced his sentence to five years. As Dutt has already spent 18 months in jail, he will have to spend three year...
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General |
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Bank Branch Audit Report Format & Guidance on Reporting on MoCs
Posted Date : 21-Mar-2013 , 09:54:26 am | Posted By CASANSAAR
This is to inform you all regarding 2013 Guidance Note on Audit of Banks as also reporting in respect of total numberand amounts of debits/ credits pursuant to Memorandum of Changes issued by the bank branch auditors and reporting thereof under the “Other Matters”&nbs...
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Auditing |
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Delhi budget: Threshold raised for registration under VAT
Posted Date : 21-Mar-2013 , 09:01:48 am | Posted By CASANSAAR
Extending relief to small traders in the budget presented on Wednesday, Delhi Chief Minister Sheila Dikshit announced proposal to raise the threshold limit for registration under VAT from Rs 10 lakh to 20 lakh.
While announcing the sop, Sheila claimed that Delhi is the first state in the country to...
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Budget |
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Tax-free Delhi budget in an election year
Posted Date : 21-Mar-2013 , 09:00:52 am | Posted By CASANSAAR
No new tax was levied and chilly spray, desi ghee and LED lights will be cheaper with Delhi government today proposing to reduce or eliminate VAT on them in its budget which focussed on social sector in an election year as Congress seeks a record 4th term in power.
Prese...
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Budget |
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0 | Hits : 841
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The A, B, C
Posted Date : 21-Mar-2013 , 08:58:29 am | Posted By CASANSAAR
Hindustan Times cuts through the jargon and jugglery of the statistics-loaded budget and brings out the key phrases, personalities and political expedients that shaped finance minister Parminder Singh Dhindsa's budget, laying out the SAD-BJP government's growth roadmap for the year ahead.
...
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Budget |
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30% rise in students vying for company secretary jobs
Posted Date : 21-Mar-2013 , 08:55:53 am | Posted By CASANSAAR
There is a 30 per cent rise in students vying to pursue a career in company secretaryship in the last three years, according to president of Council of Institute of Company Secretaries of India CS S N Ananthasubramanian.
Addressing reporters here on Monday, he said in the last three years, ...
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ICSI |
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Sebi allows FIIs to use government, corporate bonds as collateral
Posted Date : 21-Mar-2013 , 08:49:30 am | Posted By CASANSAAR
In a move that would help boost flow of overseas funds into Indian capital markets, regulatorSebi today allowed FIIs to offer government securitiesand corporate bonds as collaterals for their cash and derivative transactions on the stock exchanges. FIIs were so far permitted...
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SEBI |
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Riding on VAT, Punjab aims to mop up Rs 28,524 cr in taxes
Posted Date : 21-Mar-2013 , 08:42:00 am | Posted By CASANSAAR
The Punjab government Wednesday set for itself an unprecedented target of tax revenue collection pegged at Rs 28,524 crore for 2013-14. While this alone makes for 66 per cent of the revenue receipts expected in the new fiscal, the state has set a rather lofty challenge for itself.
Encourage...
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Budget |
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Last date of filing CPT exam form - ICAI Notification
Posted Date : 20-Mar-2013 , 08:42:51 pm | Posted By CASANSAAR
NOTIFICATION
20th March,
2013No.13-CA (EXAM)/CPT/ June/2013/II: In partial modification of the Institute’s Notification No.13-CA(EXAM)/CPT/ June/2013 dated 2nd January, 2013, it is notified for general information that the last dateof receipt of duly filled Common Proficiency Test ...
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Income Tax |
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More company secretaries will be needed once Bill is passed - ICSI President
Posted Date : 20-Mar-2013 , 08:57:55 am | Posted By CASANSAAR
Once the Companies Bill 2012 comes into force it is expected to spur demand for Company Secretaries in a big way, said S. N. Ananthasubramanian, President, Institute of Company Secretaries of India (ICSI).
“As it is, there is a great demand for our members. This will only go up with t...
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ICSI |
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0 | Hits : 1737
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Despite Sebi glare, Sahara still raises funds
Posted Date : 20-Mar-2013 , 08:52:54 am | Posted By CASANSAAR
Even as the Securities and Exchange Board of India (Sebi) is considering how to return funds to Sahara investors, Q Shop retail, Sahara Group’s latest venture, is raising funds from its franchises by charging a stiff non-refundable fee of up to Rs 3 lakh, depending on the classification of a t...
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General |
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Foreign tourists to get VAT refund on goods bought in Goa
Posted Date : 20-Mar-2013 , 08:45:10 am | Posted By CASANSAAR
Foreigners visiting Goa will now get refund of the Value added tax (VAT) on the goods they purchase in the state.
Chief Minister Manohar Parrikar, in a budget presented today, announced this scheme which aims at encouraging shopping by foreign tourists in the coastal state.
"The VAT wi...
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VAT |
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SEBI issues colour codes, product labelling for mutual funds
Posted Date : 19-Mar-2013 , 05:22:47 pm | Posted By CASANSAAR
Market regulator SEBI has issued a framework on ‘product labelling’ with colour coding for mutual funds, a move that would help investors assess the risk associated with the schemes.
The guidelines would be effective from July 1, 2013, for all existing and forthcoming schemes, SEBI said...
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SEBI |
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0 | Hits : 741
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FM asks banks to recover NPAs from promoters' money
Posted Date : 19-Mar-2013 , 02:14:20 pm | Posted By CASANSAAR
Finance Minister P Chidambaram on Monday came down heavily on wealthy promoters of companies that were not servicing bank loans, citing losses. Expressing his concern over a surge in banks’ non-performing assets (NPAs) and cases of restructured accounts, he asked lenders to take stern action f...
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Banking |
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0 | Hits : 863
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RBI cuts key policy rate by 0.25%, keeps CRR unchanged
Posted Date : 19-Mar-2013 , 12:02:26 pm | Posted By CASANSAAR
In line with expectations, the RBI Tuesday cut its short-term lending rate by 0.25 percent to spur growth and revive investment but sounded a note of caution on further easing of rates on account of high food inflation and current account deficit.
"The foremost challenge for returning the economy t...
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RBI |
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RBI further extends deadline for issuance of new format cheques
Posted Date : 19-Mar-2013 , 08:53:55 am | Posted By CASANSAAR
The RBI asked banks to issue newcheque books only under the new format and gave them time till July-end to withdraw the old format cheques. All cheques currently with customers in the old format (non-Cheque Truncation System) will continue to be valid for another four months (the earl...
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Banking |
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0 | Hits : 1221
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MCA strengthens efforts to curb money laundering,detect frauds
Posted Date : 19-Mar-2013 , 08:28:20 am | Posted By CASANSAAR
With an aim to crackdown on money laundering activities and detect corporate misdoings at an early stage, the Ministry of Corporate Affairs will work closely with the Financial Intelligence Unit besides developing an early warning system at SFIO to detect frauds. Further to strengthen...
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Category :
Corporate Law |
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0 | Hits : 881
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Sebi introduces automated system for selecting arbitrators
Posted Date : 19-Mar-2013 , 08:26:26 am | Posted By CASANSAAR
To enable faster arbitration between market intermediaries, capital market regulator Securities and Exchange Board of India (Sebi) on Monday announced an automated system for selection of arbitrators from a common pool.
The automatic process would be triggered in cases where the members...
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SEBI |
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FinMin plans 100% I-T e-refunds
Posted Date : 18-Mar-2013 , 05:34:43 pm | Posted By CASANSAAR
Soon, income tax refunds will be quick and hassle-free, if the finance ministry has its way. The ministry plans to make all refunds directly to the taxpayer's bank account.
A permanent account number (PAN) linked with the bank account number, just like Aadhaar, is integral to the Income Tax Departm...
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Income Tax |
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0 | Hits : 839
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Chidambaram: RBI, FinMin starts inquiry into charges of money laundering by employees of 3 pvt sector banks
Posted Date : 18-Mar-2013 , 01:04:15 pm | Posted By CASANSAAR
Finance Minister P Chidambaram today said the RBI and finance ministry have started inquiry into charges of money laundering by some employees of 3 private sector banks. Speaking to newsmen after a meeting with the Chief executives of public sector banks and financial institutions in New Delhi, the ...
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Banking |
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0 | Hits : 790
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21-yr-old CA aspirant fails exam, ends life
Posted Date : 18-Mar-2013 , 08:36:25 am | Posted By CASANSAAR
A 21-year-old Chartered Accountancy (CA) student allegedly committed suicide by hanging herself on Sunday morning after she failed to clear one of her exams.
A suicide note in which she sought "forgiveness" from her mother was also recovered from her room in an East Delhi hostel.
A...
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Category :
Students Zone |
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Posting a letter on website is not communication to party: Bombay High Court
Posted Date : 17-Mar-2013 , 07:20:20 pm | Posted By CASANSAAR
The Bombay High Court has asked the Registrar of Trade Marks to consider afresh an application by Institute of Cost Accountants of India (ICAI) urging registration of the trade mark " CMA".
A bench comprising justices Mridula Bhatkar and S F Vajifdar said ...
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General |
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0 | Hits : 936
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Income tax offices to remain open on March 30, 31
Posted Date : 17-Mar-2013 , 06:43:46 pm | Posted By CASANSAAR
Income tax department offices across the country will remain open on March 30 and 31 for taxpayers who want to file their returns and conduct other tax related businesses.
The central board of direct taxes (CBDT) has taken the measure as the last two days of the month are Saturday and ...
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Income Tax |
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0 | Hits : 614
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Punjab levies entry tax on vehicles bought from other states
Posted Date : 17-Mar-2013 , 09:11:53 am | Posted By CASANSAAR
Buying motor vehicles, including car and bikes from other states, including UT Chandigarh will cost more for Punjab-based buyers, as the state government has levied entry tax on vehicles bought from other states and Union Territories (UT).
The decision is aimed at preventing loss of tax r...
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General |
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1 | Hits : 834
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Caterers in Service Tax Department's net
Posted Date : 16-Mar-2013 , 06:54:24 pm | Posted By CASANSAAR
The Service Tax Department officials have conducted searches at the offices and residential premises of five outdoor caterers here and unearthed tax evasion of about Rs 3 crore, department sources said on Saturday.
The searches were conducted at the premises of Lakhani Caterer, Trupti Cater...
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Category :
Service Tax |
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0 | Hits : 1024
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HDFC hires Deloitte to conduct forensic audit
Posted Date : 16-Mar-2013 , 03:37:09 pm | Posted By CASANSAAR
HDFC Bank on Saturday said it has appointed accounting and audit firm Deloitte Touche Tohmatsu India to carry out an independent forensic enquiry into allegations of some of its officials facilitating money laundering activities.
The bank has also appointed Amarchand & Mangaldas & S...
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Category :
Auditing |
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0 | Hits : 1035
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