Ratan Tata to retire today, Cyrus Mistry to succeed him
Posted Date : 28-Dec-2012 , 12:12:48 pm | Posted By CASANSAAR
Ratan Tata, who led the transformation of the Tata group from a conventional corporate house into a $ 100 billion global conglomerate with high-profile acquisitions abroad, will retire on Friday ending 50-year run in one of India's oldest business empires.
Marking a generational c...
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General |
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ITAT: No scope for unilateral changes in taxation treaties
Posted Date : 28-Dec-2012 , 08:10:50 am | Posted By CASANSAAR
In a breather to multi-national companies working out of India, theMumbai Income Tax Appellate Tribunal (ITAT) has held that retrospectively amending the definition of ‘royalty’ in the Income Tax Act, 1961 cannot automatically alter the provisions of Double Taxation Avoidance A...
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Income Tax |
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CBDT issues FAQs for qualified foreign investors
Posted Date : 28-Dec-2012 , 08:08:56 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has issued a set of 26 frequently asked questions (FAQs) on the tax framework applicable to qualified foreign investors (QFIs).
QFIs are a new category of investors — foreign retail and high networth investors — that the Governm...
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Income Tax |
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ICAI Elections 2012 - Final Position on Counting of Votes (SOUTHERN REGION)
Posted Date : 28-Dec-2012 , 07:54:14 am | Posted By CASANSAAR
SOUTHERN REGION Quota Declared.
The Quota for Regional Council is 1205.
The Quota for Central Council is 2268.
SOUTHERN REGION (SIRC):
Team Central Council - 2013-2015
S.NoNamePLACEStateExisting / NewTerm 2013-2015
2
BABU ABRAHAM KALLIVAYALIL
ERNAKULAM
KL
New
1st
...
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ICAI |
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ICAI Elections 2012 - Final Position on Counting of Votes (WESTERN REGION)
Posted Date : 28-Dec-2012 , 07:53:29 am | Posted By CASANSAAR
Western India Regional Constituency (Regional Council)
Final Vote count for everyone in WIRC
Rank
Name
City
Total
1st Pref
1
Parag Raval
Ahmedabad
2067
2067
2
Sushrut Chitale
Mumbai
1555
1555
3...
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ICAI |
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Renaming of the Integrated Professional Competence Examination (IPCE) IPCE
Posted Date : 27-Dec-2012 , 07:37:09 pm | Posted By CASANSAAR
26th December 2012
In terms of Notification NO XCA(7)/145/2012 dated 1st August 2012, “Integrated Professional Competence Examination(IPCE)”, stands renamed as “Intermediate (IPC) Examination” and would be known accordingly, with effect from May 2013 exam...
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Students Zone |
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Diesel prices to go up by Rs. 10 in 2013: oil secretary
Posted Date : 27-Dec-2012 , 04:59:15 pm | Posted By CASANSAAR
Diesel prices are likely to go up by Rs. 10 per litre over the next 10 months while kerosene prices may be hiked by Rs. 10 per litre over the next two years, according to the petroleum secretary.
The price hike is being considered as the government scrambles to fi...
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General |
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Government notifies MCX-SX as recognised stock exchange
Posted Date : 27-Dec-2012 , 04:51:39 pm | Posted By CASANSAAR
The government has notified the country's newest bourse MCX-SX as a recognised stock exchange, paving the way for initial public offers, listing and trading of shares its platform.
MCX-SX (MCX Stock Exchange) has already got an approval from Sebi (Securities and Exchange Board of India) t...
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Shares & Stock |
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0 | Hits : 766
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RBI proposal may put 70% NBFCs out of business; over 9,000 companies may lose licences
Posted Date : 27-Dec-2012 , 08:09:22 am | Posted By CASANSAAR
More than two-thirds of non-banking finance companies (NBFCs) face closure if the Usha Thoratpanel recommendation on minimum asset size is implemented by the Reserve Bank of India, shutting a vital source of funding in many parts of the country.Nearly 9,000 companies lending to borro...
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RBI |
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Govt approves 12 FDI proposals worth over Rs 802 cr
Posted Date : 26-Dec-2012 , 08:37:05 pm | Posted By CASANSAAR
The government on Wednesday approved 12 foreign direct investment (FDI) proposals, including that of Ratnakar Bank, totalling over Rs 802 crore.
The Foreign Investment Promotion Board (FIPB) headed by economic affairs secretary Arvind Mayaram, however, rejected Mahin...
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International Business |
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Companies must disclose CEO's pay in perspective of staff salaries: Govt
Posted Date : 26-Dec-2012 , 07:20:38 pm | Posted By CASANSAAR
Amid a growing perception about India Inc doling out huge pay packages to the top management, the government wants the companies to disclose the remuneration paid to promoters and CEOs in perspective of their median staff salary. "Publicly, there is so much debate about the companies spend...
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Corporate Law |
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0 | Hits : 968
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No auditor can audit a company for more than 5 years: Sachin Pilot
Posted Date : 26-Dec-2012 , 08:42:34 am | Posted By CASANSAAR
Terming “cosy” relations between management and auditors of a company as key to accounting frauds, the Corporate Affairs Minister Sachin Pilot has said that such a nexus would not be allowed anymore as lawmakers have become smarter after Satyam sca...
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Category :
Auditing |
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0 | Hits : 3345
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FinMin to track excise, service tax defaulters through database
Posted Date : 26-Dec-2012 , 08:34:24 am | Posted By CASANSAAR
The Finance Ministry has decided to take help from the Financial Intelligence Unit-India (FIU-Ind) in tracking evasion of Central excise duty and service tax, mainly in cases where defaulters are not traceable.
A senior Finance Ministry official told Business Line, “The data...
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Excise |
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No service tax on aam aadmi cover plans
Posted Date : 26-Dec-2012 , 08:32:51 am | Posted By CASANSAAR
The finance ministry on Monday dropped service tax on Aam Aadmi Bima Yojna (AABY) and Janashree Bima Yojna (JBY) and this will save the government some money as the central contribution towards premium in the two schemes is 50% and the rest is contributed by state governments...
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Service Tax |
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0 | Hits : 996
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Two sitting Regional council members from WIRC lost this election.
Posted Date : 25-Dec-2012 , 06:40:30 pm | Posted By CASANSAAR
Two sitting regional council members lost this election. Ashok Jain and Chandrkant Pawar.
Some Interesting facts of WIRC election
All Shah won the election. Hardik Shah, Shardul Shah, Julfesh Shah, Shruti Shah, Priyam Shah, except Mahesh Shah from Vasai. And all these Shah coming from diff...
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ICAI |
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0 | Hits : 1495
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FDI in services sector up 5 pc in April-Oct
Posted Date : 25-Dec-2012 , 06:31:20 pm | Posted By CASANSAAR
India's foreign direct investment (FDI) inflows into the services sector increased by a mere 5 per cent to $3.6 billion during the April-October period of this fiscal, according to the latest data of industry ministry. The financial and non-financial services sector had attracted ...
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International Business |
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0 | Hits : 722
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Satyam made us smarter; auditors can't get cosy with management: MCA
Posted Date : 25-Dec-2012 , 04:00:35 pm | Posted By CASANSAAR
Corporate Affairs Minister Sachin Pilot has said that a nexus between management and auditors would not be allowed anymore as lawmakers have become smarter after Satyam scam.
"Sometimes, auditors get into too cosy a relationship with the management, which creates a lot of proble...
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Category :
Auditing |
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0 | Hits : 1041
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Facebook 'paid just 2.9m pounds in tax on profits of 800m pounds' made outside US: report
Posted Date : 25-Dec-2012 , 08:48:25 am | Posted By CASANSAAR
Now, Facebook has come under fire for its tax affairs in the UK after it emerged that the social networking giant paid just 2.9 million pounds in tax on profits of over 800 million pounds.
Filings for Facebook Ireland, through which all of the social network's profits outside...
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International Business |
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0 | Hits : 755
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BSE to suspend trading in 31 securities
Posted Date : 25-Dec-2012 , 08:41:47 am | Posted By CASANSAAR
Leading bourse BSE today said it will suspend trading in shares of 31 companies, including Jyothy Consumer Products andJupiter Bioscience, with effect from January 16 for their failure to comply with various provisions of the exchange's listing agreement.
These companies have not fulfille...
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Shares & Stock |
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0 | Hits : 664
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RBI to inject Rs 8,000 crore cash in debt markets this week
Posted Date : 25-Dec-2012 , 08:37:18 am | Posted By CASANSAAR
The Reserve Bank of India on Monday said it will pump in Rs 8,000 crore in the market on December 28 by buying government securitiesto ease the liquidity situation.
“Consistent with the stance of monetary policy and based on the current assessment of prevailin...
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RBI |
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Advance tax collection up 10.44 per cent in December
Posted Date : 25-Dec-2012 , 08:34:34 am | Posted By CASANSAAR
The third installment of the Advance Tax collection recorded a growth of 10.44 per cent to Rs. 78,226 crore, finance ministry said today.
Advance Tax collections for the month of December 2012 (up to December 20) stood at Rs. 78,226 crore, against Rs. 70,826 ...
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Income Tax |
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Extension of last date
Posted Date : 25-Dec-2012 , 08:34:14 am | Posted By CASANSAAR
FOR INFORMATION OF THE MEMBERSSubject: Extension of last date “for complying with the CPE hours requirement for the calendar year 2012” - from 31st December, 2012 to 31st January, 2013
This is for kind information of the members that it has been decided to extend the last date for ...
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ICAI |
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ICAI Elections 2012 - Updates on Counting of Votes
Posted Date : 25-Dec-2012 , 08:22:31 am | Posted By CASANSAAR
Counting Starts with Western India Regional Constituency and Western India Regional Council.
First update of Counting:
Total Postal Ballots received : 338 votes.
15% of total eligible postal ballot voters!
Ballot boxes about to be opened!!! One by one all...
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ICAI |
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0 | Hits : 3306
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ICAI Elections 2012 - Updates on Counting of Votes
Posted Date : 25-Dec-2012 , 08:21:45 am | Posted By CASANSAAR
Western India Regional Constituency (Regional Council)
Update as on 24th December, 2012, Time: 10:00 PM (Click Here)
Western India Regional Constituency (Central Council)
Update as on 23rd December, 2012, Time: 6:00 PM (Click Here)...
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ICAI |
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0 | Hits : 9064
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Three-digit number (167) allotted for women's helpline in Delhi
Posted Date : 24-Dec-2012 , 04:39:24 pm | Posted By CASANSAAR
A three-digit helpline number, 167, has been allotted by the Centre to the Delhi government for its 'office for helping women in distress.'
Delhi Chief Minister Sheila Dikshit had reportedly requested Telecom Minister Kapil Sibal for a three-digit number for the department. Usually, the ministry is...
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Category :
General |
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0 | Hits : 1039
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NBFCs have time till March to migrate to new standard cheques
Posted Date : 23-Dec-2012 , 08:12:14 pm | Posted By CASANSAAR
Borrowers from Non Banking Financial Companies (NBFC) now have time till 31 March 2013 to replace their old system bank cheques with new ones with added security features for their equated monthly instalment (EMI) payments, the Reserve Bank of India (RBI) said in a circular.
The banking regulator...
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Category :
Banking |
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0 | Hits : 702
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Lobbying needs to be defined; companies should make disclosures
Posted Date : 23-Dec-2012 , 07:52:28 pm | Posted By CASANSAAR
Calling for a need to define lobbying through a legal framework to differentiate between advocacy and bribery, corporate affairs minister Sachin Pilot has favoured disclosures by companies and industry bodies about their representations to government on specific policy issues.
"I think th...
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Category :
Corporate Law |
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0 | Hits : 754
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10 lakh new jobs expected to come up in 2013: survey
Posted Date : 23-Dec-2012 , 07:25:03 pm | Posted By CASANSAAR
Job seekers can look forward to a prosperous new year with more than 10 lakh new jobs expected across various sectors including FMCG and retail, says a survey.
Coming against the backdrop of uncertain economic conditions, the projected number of new jobs in 2013 is way higher than...
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General |
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0 | Hits : 1100
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Forex reserves rises by $ 1.637 bn to $ 296.63 bn
Posted Date : 23-Dec-2012 , 07:09:36 am | Posted By CASANSAAR
The foreign exchange reserves rose by a robust 1.637 billion dollars to touch 296.63 billion mark during the week ended December the 14th.According to the Reserve Bank's weekly statistical supplement, the gold reserves remained unchanged at 27.803 billion dollars during the week....
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Finance |
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0 | Hits : 635
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Report on auditing parties' accounts submitted to EC: ICAI
Posted Date : 22-Dec-2012 , 07:11:26 am | Posted By CASANSAAR
Institute of Chartered Accountants of India (ICAI) has submitted its report to the Election Commission on auditing of accounts of political parties, a top official said on Friday. As per the request of EC, the Institute has made a few suggestions and prepared a report t...
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ICAI |
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