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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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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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 : 874
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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 : 1231
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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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Corporate Law |
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0 | Hits : 888
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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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0 | Hits : 745
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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 : 855
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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 : 801
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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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Students Zone |
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11 | Hits : 3731
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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 : 945
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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 : 631
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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 : 886
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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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Service Tax |
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0 | Hits : 1050
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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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Auditing |
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0 | Hits : 1057
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Lord Shiva worship not a religious act, income tax tribunal says
Posted Date : 16-Mar-2013 , 08:50:48 am | Posted By CASANSAAR
Lord Shiva, Hanuman and goddess Durga do not represent any particular religion but are regarded as supernatural powers of theuniverse, the Nagpur income tax appellate tribunal has said.
The observation came when the tribunal was hearing an appeal by Nagpur-ba...
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Income Tax |
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0 | Hits : 1372
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Government has launched drive against fake Permanent Account Number (PAN) cards
Posted Date : 16-Mar-2013 , 08:40:19 am | Posted By CASANSAAR
The Government has launched drive against fake Permanent Account Number (PAN) cards. As a continuous process, in order to know the genuineness of Know Your Customer (KYC) documents on Proof of Identity (POI) and Proof of Address (POA), third party field verification is conducted after allotment of P...
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Income Tax |
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0 | Hits : 1005
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RBI advises banks to issue debit, credit cards with photo
Posted Date : 16-Mar-2013 , 08:37:24 am | Posted By CASANSAAR
Banks have been advised by RBI to consider issuing debit and credit cards with photographs of the cardholders to prevent misuse of stolen cards, the Lok Sabha was informed today."Banks have been advised by the RBI that, with a view to reducing the instances of misuse of lost/stol...
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RBI |
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0 | Hits : 857
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New ITR Forms for AY 2013-14 Expected to be notified by end of March, 2013
Posted Date : 16-Mar-2013 , 08:34:58 am | Posted By CASANSAAR
New forms for filing of income tax returns for the assessment year 2013-14 are proposed to be notified by the end of this month.
"The new forms for filing the income tax returns for the assessment year 2013-14 are proposed to be notified by the end of March, 2013," Minister of State for Fin...
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Income Tax |
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0 | Hits : 1029
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Sebi moves Supreme Court, seeks arrest of Sahara chief Subrata Roy
Posted Date : 15-Mar-2013 , 06:34:55 pm | Posted By CASANSAAR
Market regulator, the Securities and Exchange Board of India, has moved the Supreme Court for the arrest of Sahara group founder Subrata Roy. Its petition filed in the top court today also seeks that Mr Roy be prevented from travelling abroad.
The Supreme Court will hear Sebi's petition in the firs...
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General |
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0 | Hits : 913
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TCS, ICICI Bank paid higher advance tax
Posted Date : 15-Mar-2013 , 01:28:34 pm | Posted By CASANSAAR
Information Technology major TCS has declared that it has paid Rs 600 crore as advance tax for the quarter January-March 2013, nearly 10% more than the previous quarter. Last year for the March quarter, the company had paid Rs 545 crore as advance tax, according to information available from the Inc...
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Income Tax |
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0 | Hits : 899
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Companies can invest in tax-free bonds having high rates: Govt
Posted Date : 15-Mar-2013 , 07:52:40 am | Posted By CASANSAAR
The Corporate Affairs Ministry has said companies can invest in tax-free bonds that carry interest rates higher than the prevailing bank rates, a move that would help in attracting more investments into such instruments.
Ambiguity over a clause in the Companies Act -- that disallows corpora...
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Corporate Law |
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0 | Hits : 837
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Corporates rampantly using bogus bills to evade taxes: CBDT
Posted Date : 15-Mar-2013 , 07:49:57 am | Posted By CASANSAAR
The country's apex tax body, the CBDT or Central Board of Direct Taxes has expressed concern over the rampant involvement of corporates amongst other entities in a hawala racket where bogus bills are used to suppress taxable income. Speaking to ET NOW, KV Chowdary, Member, Invest...
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Income Tax |
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0 | Hits : 857
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35,000 more tax notices on way; FM asks defaulters to clear dues
Posted Date : 14-Mar-2013 , 09:57:23 pm | Posted By CASANSAAR
Dangling carrot and stick, the Income Tax Department today issued notices to 35,000 more assessees for failure to file tax returns while Finance Minister P Chidambaram offered them a penalty waiver if they chose to clear their dues. The government's initiatives have alr...
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Income Tax |
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0 | Hits : 746
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Cobrapost expose: HDFC, ICICI, Axis Bank accused of money laundering
Posted Date : 14-Mar-2013 , 12:36:31 pm | Posted By CASANSAAR
A Cobrapost pan-India undercover investigation has accused HDFC Bank , ICICI Bank and Axis Bank of running a vast, nation-wide money laundering racket.
Cobrapost, an online magazene, conducted a sting operation across various bran...
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Banking |
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2 | Hits : 1624
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IT Department Urges Taxpayers to Pay all Self- Assessment Tax Dues by 31ST March
Posted Date : 14-Mar-2013 , 09:07:08 am | Posted By CASANSAAR
The Income-tax Act requires that the tax payable on the returned income after taking into account prepaid taxes, should be paid before furnishing the return. An analysis of returns filed electronically in the current Financial Year (2012-13) reveals that nearly 73,388 taxpayers have defaulted on suc...
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Income Tax |
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0 | Hits : 838
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Indirect tax collections rise by 20% to Rs 4.17 tn in Apr-Feb
Posted Date : 14-Mar-2013 , 09:05:48 am | Posted By CASANSAAR
Indirect tax collections has registered growth of 20 per cent to Rs 4.17 lakh crore in April-February period of the ongoing fiscal. The Budget targetted 27 per cent growth in the indirect tax collections in 2012-13 financial year. The excise duty collection during April-February ...
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Service Tax |
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0 | Hits : 787
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Now, a phishing email in the name of RBI
Posted Date : 14-Mar-2013 , 08:52:53 am | Posted By CASANSAAR
Next time you get an email from the Reserve Bank of India think again?
An email allegedly from India's central bank, asking denizens to secure their bank account details with the RBI is fake, and an attempt by new-age fraudsters to con people into giving away bank account ...
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RBI |
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0 | Hits : 956
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