CBEC seeks details of service tax payment from companies
Posted Date : 06-Feb-2013 , 07:43:04 pm | Posted By CASANSAAR
Racing against time to meet revenue collection target, tax authority CBEC has started seeking details of service tax from companies which have paid the same amount as last year or even less than that.The Central Board of Excise and Customs (CBEC) has written to such com...
Continue Reading...
Category :
Service Tax |
Comments :
0 | Hits : 1017
|
 |
Exposure Draft: Acquisition of an Interest in a Joint Operation (Proposed amendment to IFRS 11) - (Last date for sending comments: March 20, 2013)
Posted Date : 06-Feb-2013 , 07:37:51 pm | Posted By CASANSAAR
The International Accounting Standards Board (IASB) has published this Exposure Draft of proposed amendments to introduce guidance on the accounting, by a joint operator, for the acquisition of an interest in a joint operation, as defined in IFRS 11 Joint Arrangements, in which the activity of the j...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 731
|
|
Exposure Draft: Sale or Contribution of Assets between an Investor and its Associate or Joint Venture (Proposed amendments to IFRS 10 and IAS 28)
Posted Date : 06-Feb-2013 , 07:36:50 pm | Posted By CASANSAAR
The International Accounting Standards Board (IASB) has proposed these amendments to address the issues related to the changes made in IAS 27 Consolidated and Separate Financial Statements (as issued in 2008) as part of the Business Combinations project. Invitation to commentASB invit...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 692
|
|
SEBI free to seize properties of Sahara Group companies: SC
Posted Date : 06-Feb-2013 , 06:06:07 pm | Posted By CASANSAAR
In fresh trouble toSahara group, the Supreme Court on Wednesday said that SEBI is free to freeze accounts and seize properties of its two companies for defying court orders by not refunding Rs 24,000 crore to investors.
The apex court also pulled up SEBI for not taking action against the ...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 821
|
|
Listed companies must now seek Sebi nod for all M&A deals
Posted Date : 06-Feb-2013 , 09:45:32 am | Posted By CASANSAAR
Companies traded on stock exchanges will now need the clearance of the capital market regulator Sebi for all merger, demerger and amalgamation deals. Till now, companies could execute these strategies by obtaining the approval of a high court and no-objection certificate from exc...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 963
|
|
Symphony gets ICAI award for excellence in financial reporting for second time
Posted Date : 06-Feb-2013 , 09:38:05 am | Posted By CASANSAAR
Symphony Limited, Ahmedabad-based air cooler manufacturing and marketing company, has won the ICAI award for excellence in financial reporting for the second consecutive years.Symphony was given this award for its annual report for 2010-11. The award was handed over at the Internation...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 981
|
|
Sebi revises norms for listed companies over 'exaggerated' valuations
Posted Date : 05-Feb-2013 , 08:23:11 pm | Posted By CASANSAAR
Market regulator Sebi has revised norms required for publicly traded companies which are planning to list their equities after amalgamation or de-merger.
In recent past, Sebi said it has been receiving applications seeking exemption from certain entities where there are inadequate disclosur...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 754
|
|
Fin Min to taxpayers: Revenue to be collected in just & fair manner
Posted Date : 05-Feb-2013 , 07:33:53 pm | Posted By CASANSAAR
Finance Ministry today assured taxpayers that efforts would be made to end hostile relationships between officials and assesses and collect revenue in a just and fair manner.
Addressing officials of Central Board of Excise and Customs (CBEC) Finance Minister P Chidambaram said in New Delhi...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 690
|
|
IT dept slaps Rs 2300 crore tax demand on BCCI, Board looks for legal loopholes
Posted Date : 05-Feb-2013 , 07:29:06 pm | Posted By CASANSAAR
Income tax authorities have reopened old cases involving theIndian cricket Board and slapped taxes totalling about Rs. 2,300 crore for seven years after terming all its activities as "commercial", forcing the world's richest cricket body against the wall.
Tax assessment cas...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 905
|
|
SEBI revises rules for amalgamation of companies
Posted Date : 05-Feb-2013 , 07:37:47 am | Posted By CASANSAAR
The Securities and Exchange Board of India (SEBI) on Monday revised rules for merger and amalgamation of companies, which requires stricter valuation of entities.
In the recent past, SEBI said it “received applications seeking exemption from certain entities containing inadequate...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 1061
|
|
Mass resignation by central excise, service tax superintendents on April 30
Posted Date : 05-Feb-2013 , 07:34:01 am | Posted By CASANSAAR
All Central Excise and Service Tax superintendents will submit their resignations on April 30 over their demand for no promotions, lower salary and lack of working conditions.
They have been presenting their case to the concerned authorities regularly for more than two decades...
Continue Reading...
Category :
Service Tax |
Comments :
0 | Hits : 1224
|
|
Tamil Nadu chief minister gives Rs. 10 lakh to Chartered Accountancy topper
Posted Date : 04-Feb-2013 , 08:44:14 pm | Posted By CASANSAAR
Tamil Nadu Chief Minister Jayalalithaa on Monday gave away Rs. 10 lakh to Prema, an auto rickshaw driver's daughter from the state, who topped the nationwide Chartered Accountant examination.
She gave the cheque to Prema, who was accompanied by her father and brother, ...
Continue Reading...
Category :
Students Zone |
Comments :
0 | Hits : 1204
|
|
Shell India says tax order contrary to FM'S FDI drive; to challenge strongly
Posted Date : 04-Feb-2013 , 08:40:01 pm | Posted By CASANSAAR
Global petrochemical and energy giant Shell's Indian arm is gearing up to challenge a recent transfer pricingorder by the income tax department order that has alleged underpricing of Rs 15,000 crores by Shell Indiawhile issuing shares to it's sole parent Shell Gas BV in March, 20...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 750
|
|
Facebook celebrates 9th birthday, Hapy Birthday Facebook
Posted Date : 04-Feb-2013 , 05:51:42 pm | Posted By CASANSAAR
Social networking site Facebook on Monday turned nine.
Today, Facebook has over one billion active users and the counting is going on rapidly.
The most popular social networking site was founded by Mark Zuckerberg and his four friends as a sophomore at the Harvard Unive...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 711
|
|
Sourav Ganguly appeals against service tax claim of over Rs 3 crore
Posted Date : 04-Feb-2013 , 09:10:47 am | Posted By CASANSAAR
Former India cricket captain Sourav Ganguly has challenged before the Calcutta High Courta service tax claim of over Rs three crore, which was charged during his term with the Kolkata Knight Ridersfor IPL and playing for Team India. "While the original claim is of Rs 1....
Continue Reading...
Category :
Service Tax |
Comments :
0 | Hits : 1100
|
|
Fin Min forms online data bank to check black money
Posted Date : 03-Feb-2013 , 06:43:01 pm | Posted By CASANSAAR
In order to check black money and tax evasion, an online data bank is being setup by theFinance Ministry for effective coordination and dissemination of various inputs pertaining to illegal funds. The online system, which would act as data bank for financial intelligenc...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 949
|
|
RBI draft norms for loan restructuring may hit banks' earnings
Posted Date : 03-Feb-2013 , 06:37:18 pm | Posted By CASANSAAR
RBI's new draft guidelines for restructured loans are likely to hit earnings of banks by at least 3-8 per cent over the next two years, while some public sector banks are expected to get most impacted, a report by Bank of America Merrill Lynch has said. Reserve Bank last week iss...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 835
|
|
DHC quashes Circular No.158 requiring professionals to pay 2% differential service tax
Posted Date : 02-Feb-2013 , 02:50:29 pm | Posted By CASANSAAR
Circular No. 158/9/2012-ST dated 08.05.2012 and Circular No.154/5/2012-ST dated 28.03.2012 have been quashed by the Hon'ble High Court of Delhi in W.P.(c) No. 4456/2012 filed by Delhi Chartered Accountants Society (Regd.) and argued by Mr. Ruchir Bhatia, Adv. for Petitioner.
By the afo...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 2799
|
|
India, Gibraltar sign tax information exchange agreement
Posted Date : 02-Feb-2013 , 01:57:42 pm | Posted By CASANSAAR
India and Gibraltar have signed a Tax Information Exchange Agreement (TIEA) that among other things calls for transparent sharing of information.
The agreement was signed yesterday by Jaimini Bhagwati, High Commissioner of India to the UK from the Indian side and Gi...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 622
|
|
Download CPT December 2012 Result Card
Posted Date : 02-Feb-2013 , 08:57:22 am | Posted By CASANSAAR
Result cards relating to December 2012Common Proficiency Test (CPT) have been sent to the candidates by post, in the normal course, soon afterdeclaration of results.
CPT result cards will also be hosted onhttp://icai.nic.in/cptresultcard with effect from December 2012&nb...
Continue Reading...
Category :
Students Zone |
Comments :
0 | Hits : 1234
|
|
Rs9,800 crore service tax evasion detected, stern action on cards
Posted Date : 01-Feb-2013 , 11:15:03 pm | Posted By CASANSAAR
Service tax evasion of a staggering Rs9,800 crore has been detected during the first nine months of the current fiscal, forcing the Tax Department to warn that properties of evaders will be attached.
"In many cases, the service providers collect service tax from their clients but do not dep...
Continue Reading...
Category :
Service Tax |
Comments :
0 | Hits : 1203
|
|
Budget Session from Feb 21, Railway Budget on 26th & Union Budget on February 28
Posted Date : 01-Feb-2013 , 05:07:49 pm | Posted By CASANSAAR
The dates for the presentation of the Union Budget and the Railway Budget were announced on Friday. While the Union Budget will be presented on February 28, the Railway Budget will be present two days earlier on February 26.
The Budget session will last from February 21 ...
Continue Reading...
Category :
Budget |
Comments :
0 | Hits : 1003
|
|
RBI suggests bank charge for cash withdrawal & deposit through cheques
Posted Date : 01-Feb-2013 , 04:32:25 pm | Posted By CASANSAAR
RBI has suggested that banks should charge for cash withdrawal and deposit through cheques while the government agencies should do away with convenience charges for online payment of utility bills. As per the discussion paper floated by RBI, high cash withdrawals and deposits of cash by individ...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 1669
|
|
BoS of ICAI announces launch of e-Learning Course for Common Proficiency Course (CPCCPC
Posted Date : 01-Feb-2013 , 04:15:18 pm | Posted By CASANSAAR
The Institute of Chartered Accountants of IndiaBoard of StudiesCommon Proficiency Course (CPC) e-Learning onStudents Learning Management System (http://StudentsLMS.icai.org)
The Board of Studies is pleased to announce the availability of e-Learning facility for Common Proficiency ...
Continue Reading...
Category :
Students Zone |
Comments :
0 | Hits : 920
|
|
Income tax exemption limit to Rs 3 lakh: Shome panel says govt to come out with modified DTC Bill
Posted Date : 01-Feb-2013 , 11:32:05 am | Posted By CASANSAAR
The government will come up with a modified Direct Taxes Code (DTC) Bill after incorporating the suggestions of the Standing Committee on Finance, which among things had suggested raising annual income tax exemption limit to Rs 3 lakh.
"Will come out with modified DTC (Bill) in r...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1474
|
|
Satyam, Tech Mahindra starts integration process
Posted Date : 01-Feb-2013 , 11:06:40 am | Posted By CASANSAAR
Hyderabad: Mahindra Satyam and Tech Mahindra have started defacto integration process and are only waiting for the legal assent for formal merger, Mahindra Satyam chairman, Vineet Nayar said on Thursday, adding that the process of merger was in the final stage and it would soon ...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 686
|
|
Court clears hurdle for I-T Dept to recover Rs 1,090-cr tax from IBM
Posted Date : 31-Jan-2013 , 03:12:09 pm | Posted By CASANSAAR
In a set back to the IT multinational, IBM India Pvt Ltd., the Karnataka High Court has cleared the hurdle for the Income-Tax Department to recover Rs 1,090.39-crore tax due from the company by staying the order of the Bangalore Bench of the I-T Appellate Tribunal.
...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 942
|
|
Corp Affairs Min expects to soon address MCA-21 glitches
Posted Date : 31-Jan-2013 , 01:35:42 pm | Posted By CASANSAAR
The Corporate Affairs Ministry expects to soon resolve the glitches in its e-governance initiative MCA-21, now being managed by Infosys. IT bellwether Infosys took over the MCA-21 initiative on January 17 from Tata Consultancy Services. In recent days, there h...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 1101
|
|
Income Tax department asks Nokia to pay Rs 13,000 crore
Posted Date : 31-Jan-2013 , 01:28:38 pm | Posted By CASANSAAR
The Income tax (I-T) department probing theNokia tax-evasion case has, in an interim report, said the company should pay Rs 13,000 crore for tax and transfer-pricing violations.A senior Income-tax official, who requested anonymity, told ET, "We have submitted a 150-page interim report...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1157
|
|
Cabinet clears key changes to Lokpal bill
Posted Date : 31-Jan-2013 , 01:26:50 pm | Posted By CASANSAAR
The Union Cabinet met today and approved major amendments to the Lokpal bill, the proposed anti-corruption legislation that has seen much debate and sparring between the government and the opposition and civil society. The Bill is likely to be tabled in Rajya Sabha in the budge...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 775
|
|
|
