CBDT manual aims to plug leakages in cross-border transfers
Posted Date : 28-Jan-2013 , 08:27:58 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) is pushing for exchange of information among tax administrators globally to tap tax leakage in cross-border transactions, even as the government is struggling to contain the fiscal deficit by boosting tax collection and paring expenditure.
The foreign ...
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Income Tax |
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FM to launch Rajiv Gandhi Equity Scheme in Mumbai
Posted Date : 27-Jan-2013 , 12:31:52 pm | Posted By CASANSAAR
Aiming to attract first-time stock market investors, Finance Minister P Chidambaram will launch the much-awaitedRajiv Gandhi Equity Savings Scheme (RGESS) in Mumbai on February 9.
"He (Chidambaram) is going to Mumbai next month and will formally launch the Rajiv Gandh...
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Income Tax |
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0 | Hits : 730
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Now, get 50% tax rebate on road safety donation
Posted Date : 27-Jan-2013 , 12:24:46 pm | Posted By CASANSAAR
The government has allowed income tax exemption on 50% of the amount that people/ entities contribute for road safety activities. The road transport and highways ministry notified this recently, though the finance ministry had had approved this in May last year. This is likely to...
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Income Tax |
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CA loses Rs 85 lakh to online lottery scam
Posted Date : 26-Jan-2013 , 10:34:18 am | Posted By CASANSAAR
Falling prey to an online lottery scam, chartered accountant Pankaj Kumar (name changed), 25, transferred nearly Rs 85 lakh to account numbers provided by the cyber criminals, who duped him by showing frivolous dreams having won lottery money of 10 lakh pounds. Now, all his efforts to cont...
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ICAI |
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1 | Hits : 1897
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Budget 2013: Govt may introduce new tax slab for incomes above Rs 5cr
Posted Date : 26-Jan-2013 , 10:28:22 am | Posted By CASANSAAR
P.Chidambaram, Finance Minister said, "There is an argument that when the eco, the government requires more resources the very rich should willingly pay a little more". Among the options being considered are, one a surcharge on income tax above a significantly high threshold, two rejigging...
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Budget |
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Late Rajesh Khanna, Jaspal Bhatti among Padma-2013 awardees
Posted Date : 25-Jan-2013 , 10:10:13 pm | Posted By CASANSAAR
President has approved the conferment of108 Padma Awards. These comprise 04 Padma Vibhushan, 24 Padma Bhushan and80 Padma Shri Awards. 24 of the awardees are women and the list also includes 11 persons in the category of Foreigners, NRIs, PIOs andPosthumous awardees.
Padma Awards, the count...
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General |
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Results of CA PCC & IPCC Examinations held in November, 2012 are likely to be declared on Tuesday, the 5th February, 2013 around 5.00 P.M.
Posted Date : 25-Jan-2013 , 09:31:28 pm | Posted By CASANSAAR
IMPORTANT ANNOUNCEMENT
The results of the Chartered Accountants Professional Competence and Integrated Professional Competence Examinations held in November, 2012 are likely to be declared onTuesday, the 5th February, 2013 around 5.00 P.M. and the same as well as the meritlist (candida...
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Students Zone |
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RBI likely to cut repo rate, first time in nine months
Posted Date : 25-Jan-2013 , 08:40:45 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) is expected to reward the government next week for its efforts to reform the economy and bring its finances under control by announcing its first cut in interest rates in nine months.
The RBI has been growing in confidence that the governmen...
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RBI |
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Indian Bank offers CA topper manager
Posted Date : 25-Jan-2013 , 05:30:21 pm | Posted By CASANSAAR
In one of the rare direct appointment offers made by public sector banks, all-India chartered accountancy exam topper Prema Jayakumar has been offered a manager’s position in Indian Bank.
RARE CASE
Prema’s achievement is creditable as she comes from a family with modest means...
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ICAI |
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0 | Hits : 2183
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Chartered Accountants Not Immortal, Says UK Supreme Court
Posted Date : 25-Jan-2013 , 09:03:12 am | Posted By CASANSAAR
The UK's highest court has decided that chartered accountants are not as secret as lawyers, doctors and priests. City A.M. report that the Supreme Court said they are not protected by the same professional privilege. They are not immortal and in fact do not possess any super powers at all....
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ICAI |
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AP youth becomes India
Posted Date : 25-Jan-2013 , 09:01:07 am | Posted By CASANSAAR
J Rajasekhar Reddy, a visually-impaired man from Guntur, shows the victory sign after becoming India’s first blind CA in Hyderabad on Tuesday. Devnar Foundation correspondent Jyothi Goud is beside him. | A Radhakrishna
The vision to achieve his ch...
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ICAI |
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Income-tax officer gets five years rigorous imprisonment for bribery
Posted Date : 25-Jan-2013 , 08:36:07 am | Posted By CASANSAAR
A special CBI judge held an income-tax officer of Mumbai guilty Thursday of accepting a bribe of Rs 75,000 and sentenced him to five years rigorous imprisonment.
Leeladhar Bangera was caught red-handed by CBI on March 19, 2010, demanding and receiving bribe from Anil Meh...
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Income Tax |
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0 | Hits : 895
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Govt asks companies to ensure fair trade practices
Posted Date : 24-Jan-2013 , 06:00:49 pm | Posted By CASANSAAR
The government today asked companies to ensure fair trade practices in their markets and restrain from anti-competitive activities that hurt consumers.To spread more awareness about healthy competition in market place, Corporate Affairs Minister Sachin Pilotalong with officials of fai...
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Corporate Law |
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RBI hikes FII limit in govt securities
Posted Date : 24-Jan-2013 , 06:00:02 pm | Posted By CASANSAAR
The Reserve Bank on Thursday hiked FII investment limits in government securities and corporate bonds by $ 5 billion each, taking the total cap in domestic debt to $ 75 billion, with a view to bridging the current account deficit.
Further liberalising the norms, the...
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RBI |
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Public Debt Management for the Third Quarter of 2012-13 (Oct-Dec 2012) Released by Ministry of Finance
Posted Date : 24-Jan-2013 , 05:56:53 pm | Posted By CASANSAAR
The report on Public Debt Management for the third quarter of 2012-13 (Oct-Dec 2012) has been released by the Ministry of Finance and will be placed on the Ministry’s website i.e. www.finmin.nic.in today. The said report is attached here with as well.
&...
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Finance |
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Govt should consider higher taxes for 'very rich': Chidambaram
Posted Date : 24-Jan-2013 , 01:26:29 pm | Posted By CASANSAAR
Finance minister P Chidambaram, who has talked about a stable tax regime during his meetings with foreign investors in the last two days, has said that the argument for taxing the very rich "a little more" should be considered.
"I believe in stable tax rates. However, i must...
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Category :
Budget |
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Salary Scales Tip in Favour of IIMs, not CAs
Posted Date : 24-Jan-2013 , 08:54:08 am | Posted By CASANSAAR
Prema Jayakumar, an auto driver's daughter and an unlikely topper in the Chartered Accountancy (CA) exam results announced on Monday, has simple ambitions. She wants to participate in the campus placements — in February and March — and land a job "in a corporate firm or a good bank". She...
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ICAI |
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0 | Hits : 2214
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RBI bars foreign investors from buying more Pantaloon shares
Posted Date : 24-Jan-2013 , 08:05:08 am | Posted By CASANSAAR
RBI has barred foreign institutional investors (FIIs) from buying shares in Pantaloon Retail Ltd, after the company breached the overall limit of 24 percent of its paid-up capital. "No further purchases of shares of this company would be allowed through stock exchanges in India on beh...
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Shares & Stock |
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0 | Hits : 697
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Aadhaar now must for new PF accounts
Posted Date : 24-Jan-2013 , 08:01:37 am | Posted By CASANSAAR
Anyone entering the formal sector workforce from March will have to get a UID number before they can enroll with the Employees’ Provident Fund. The EPFO will use Aadhaar to issue individual account numbers to its members, independent of employers.
“The Aadhaa...
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General |
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Budget 2013: Govt mulls higher tax exemption on savings schemes & tax savers to wean away investors from gold
Posted Date : 24-Jan-2013 , 07:56:59 am | Posted By CASANSAAR
The finance ministry may tweak tax exemption rules in the upcoming budget to makeinvestments in financial products more attractive than gold, two government officials familiar with the development said.
The ministry is planning to raise the 80C exemption limit, under which 1 lakh is ...
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Budget |
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Sebi asks intermediaries to comply with ASBA norms
Posted Date : 23-Jan-2013 , 10:59:34 pm | Posted By CASANSAAR
Sebi on Wednesday asked merchant bankers and intermediaries to ensure that disclosures made in all offer documents submitted after March 1, 2013, should be compliant with norms in place for Application Supported by Blocked Amount (ASBA) facility.
ASBA facility allows the application money to remain...
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SEBI |
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Charge prepayment penalty only on fixed rate loan dues: RBI
Posted Date : 23-Jan-2013 , 01:04:55 pm | Posted By CASANSAAR
Home loan borrowers who have opted for fixed rates may have easier terms on their mortgages as the Reserve Bank of India has advised banks to revise the penalty structure on prepayments and charge it only on the outstanding amount. It has also recommended that banks should focus on raising...
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RBI |
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0 | Hits : 919
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Rajnath Singh is new BJP President
Posted Date : 23-Jan-2013 , 12:54:07 pm | Posted By CASANSAAR
Rajnath Singh was on Wednesday unanimously elected the new president of Bharatiya Janata Party, succeeding Nitin Gadkari who decided against a second term till he was cleared of alleged corruption charges.
A resolution supporting Rajnath Singh as party chief was unanimously adopted by the p...
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General |
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RBI directs urban co-op banks to extend interest subvention for exporters
Posted Date : 23-Jan-2013 , 09:39:08 am | Posted By CASANSAAR
With a view to encouraging exports, Reserve Bank of India, RBI has directed urban co-operative banks to extend interest subvention of 2 per cent for exporters in segments like handicraft, carpets,small and medium enterprises and certain engineering goods, by a year till March 2014. RBI in its n...
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RBI |
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Central Excise (INT) Unearths Servive Tax Evasion of Around Rs.90 Crore
Posted Date : 22-Jan-2013 , 07:00:41 pm | Posted By CASANSAAR
The Directorate General of Central Excise Intelligence (Hqrs.), New Delhi has booked a case of Service Tax evasion against M/s Tops Security Limited, Mumbai. The search operations at 41 offices of the Tops Security Group revealed that the group was raising invoices including Service Tax payable on i...
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Excise |
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Auto driver's daughter is national topper in CA exams
Posted Date : 22-Jan-2013 , 02:19:09 pm | Posted By CASANSAAR
The dream of a lifetime materialised for Prema Jayakumar yesterday, when the 24-year-old topped the nation-wide Chartered Accountancy exam in her first attempt. Prema, whose father drives an auto for a living, is now determined to use the milestone as a stepping-stone towards providing her parents w...
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Students Zone |
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0 | Hits : 4368
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FDI in retail: How will you protect small traders, SC asks govt
Posted Date : 22-Jan-2013 , 01:50:55 pm | Posted By CASANSAAR
Amidst protest against the 49 percent FDI in multi-brand retail which was passed by the government, the Supreme Court on Tuesday added pressure on the centre by asking how it was going to protect the interest of the small traders.
Under the bill, major foreign retail companies such as Wal...
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International Business |
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0 | Hits : 833
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JBT scam: Om Prakash Chautala, Ajay Chautala get 10 year each in jail
Posted Date : 22-Jan-2013 , 12:53:26 pm | Posted By CASANSAAR
A Delhi court on Tuesday sentenced former Haryana chief minister Om Prakash Chautala to ten years in prison after he, his son Ajay Chautala and 53 others were found guilty of illegally recruiting 3,206 junior basic trained (JBT) teachers in the state in the year 2000.
The ...
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General |
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0 | Hits : 841
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Sebi asks banks, NBFCs to separate investment advisory services
Posted Date : 22-Jan-2013 , 09:07:55 am | Posted By CASANSAAR
Market regulator Securities and Exchange Board of India ( Sebi) today said investment advisers who are banks, non-banking financial companies (NBFCs) and corporates will have to segregate investment advisory services from other activities.
Sebi, which today notified Inve...
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SEBI |
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RBI allows hotels to prepay loans through ECBs
Posted Date : 22-Jan-2013 , 09:05:41 am | Posted By CASANSAAR
Indian companies in the hotel sector (with a total project cost of Rs 250 crore or more), irrespective of their geographical location, have been allowed to tap the external commercial borrowing (ECB) route.
The ECBs will be for repayment of outstanding rupee loan(s) and/or for fre...
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RBI |
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