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Rescheduling of PCE / IPCE Exams scheduled on 3rd May 2011 and 7th May 2011 at Kolkatta and Asansol
Posted Date : 14-Mar-2011 , 09:37:12 pm | Posted By CASANSAAR

In view of the Election to the West Bengal State Legislative Assembly, Paper-1, `Advanced Accounting’ of Professional Competence Examination and Paper-1, `Accounting’ of Integrated Professional Competence Examination scheduled to be held on Tuesday, the 3rd May, 201...

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Category : Students Zone | Comments : 0 | Hits : 882

Process of incorporation of Companies ( Form-1) and establishment of principal place of business in India by Foreign Companies ( Form-44) Procedure simplified.
Posted Date : 14-Mar-2011 , 09:36:28 pm | Posted By CASANSAAR

The Ministry has got the issue examined by Business Process Re-engineering Group under MCA-21 and in order to speed up and simplify the process of incorporation of Companies and establishment of principal place of business in India by Foreign Companies for reduction in time tak...

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Category : Corporate Law | Comments : 0 | Hits : 281

No collateral required for loans to SC/ST: Mukherjee
Posted Date : 14-Mar-2011 , 09:36:09 pm | Posted By CASANSAAR

The government today said the provision of collateral security for getting loans from banks has been waived for SC/ST as part of measures to grant them easier access to credit. "There is no need for collateral security for these sections for getting bank l...

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Category : Finance | Comments : 0 | Hits : 284

Process of incorporation of Companies ( Form-1) and establishment of principal place of business in India by Foreign Companies ( Form-44) Procedure simplified.
Posted Date : 14-Mar-2011 , 09:35:01 pm | Posted By CASANSAAR

The Ministry has got the issue examined by Business Process Re-engineering Group under MCA-21 and in order to speed up and simplify the process of incorporation of Companies and establishment of principal place of business in India by Foreign Companies for reduction in time tak...

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Category : Corporate Law | Comments : 0 | Hits : 266

SAT defers PwC-Sebi case to March 15
Posted Date : 14-Mar-2011 , 09:34:29 pm | Posted By CASANSAAR

The Securities Appellate Tribunal today adjourned the hearing in the PriceWaterhouseCoopers-Sebi case to March 15, a company official said.   The matter came before SAT yesterday.   The case relates to the multi-crore rupee Satyam a...

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Category : Auditing | Comments : 0 | Hits : 333

1,360 crore unclaimed funds in banks
Posted Date : 14-Mar-2011 , 09:33:48 pm | Posted By CASANSAAR

An estimated Rs 1,360 crore is lying unclaimed dein foreign and national banks in India. Data provided by RBI in response to Right to Information queries said that the apex bank had asked banks to redouble their efforts in tracking down customers and their legal heirs. ...

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Category : Banking | Comments : 0 | Hits : 287

Net Direct Tax Collections during April-February-2011 Increase to Rs. 3,36,177 Crore, up by 20.75 %
Posted Date : 14-Mar-2011 , 09:33:14 pm | Posted By CASANSAAR

Net direct tax collections during the period April-February 2011 stood at Rs.3,36,177 crore, up from Rs.2,78,411 crore in the same period during last fiscal, The collections thereby registered a growth of 20.75 percent. Growth in Corporate Income Tax during thi...

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Category : Income Tax | Comments : 0 | Hits : 257

Govt concerned over quality of ind directors in PSUs
Posted Date : 14-Mar-2011 , 09:32:48 pm | Posted By CASANSAAR

The government today said it would come out with the guidelines on independent directors to improve the quality of representation on the boards of the state-run companies. Heavy Industries and Public Sector Enterprises Minister Praful Patel said the quality of ...

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Category : Corporate Law | Comments : 0 | Hits : 299

Women to get one reserved seat on company boards
Posted Date : 14-Mar-2011 , 09:32:17 pm | Posted By CASANSAAR

All companies will have to reserve at least one seat in a board of directors for women candidates if the board comprises five or more independent directors.   The government would make the presence of women directors in a board mandatory by including a ...

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Category : Corporate Law | Comments : 0 | Hits : 291

Disclosure of tax returns, inherited property compulsory: EC
Posted Date : 14-Mar-2011 , 09:31:49 pm | Posted By CASANSAAR

Furnishing of income tax returns has been made mandatory for all candidates entering the poll fray and details of inherited property will also have to be provided under a new nomination affidavit brought out by the Election Commission (EC).   Candidates...

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Category : General | Comments : 0 | Hits : 278

I-T Dept keeping close watch on realty sector
Posted Date : 14-Mar-2011 , 09:31:00 pm | Posted By CASANSAAR

Suspecting the use of black money to finance deals in the country's booming real estate sector, the Income Tax Department is keeping close tabs on the sources of funding for developers' lucrative projects. "The focus of the Income Tax Department is...

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Category : Income Tax | Comments : 0 | Hits : 291

IT arrears decline despite rise in number of cases: Govt
Posted Date : 14-Mar-2011 , 09:30:25 pm | Posted By CASANSAAR

The quantum of money locked up in income tax disputes decreased in 2010 as compared to the previous year despite increase in number of cases, Parliament was informed today. The amount stuck in I-T cases actually declined to Rs 2,42,377 crore as on December 31, ...

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Category : Income Tax | Comments : 0 | Hits : 289

RBI tightens the grip on non-banking finance companies
Posted Date : 14-Mar-2011 , 09:29:58 pm | Posted By CASANSAAR

The Reserve Bank of India may further tighten the regulatory screws on non-banking finance companies. The reason: it appears that the stiff regulation for banks has increased the incentive for exploiting regulatory arbitrage by moving business to NBFCs.   ...

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Category : Income Tax | Comments : 0 | Hits : 394

CAG to submit audit report against 25 private schools
Posted Date : 14-Mar-2011 , 09:29:24 pm | Posted By CASANSAAR

The Delhi High Court Monday directed the Comptroller and Auditor General (CAG) to submit its audit report on 25 elite private schools that had complained of facing a financial burden because of having to pay teachers higher salaries recommended by the 6th Pay Commission. ...

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Category : Auditing | Comments : 0 | Hits : 658

Insurers may get to trade in equity futures and options
Posted Date : 14-Mar-2011 , 09:28:52 pm | Posted By CASANSAAR

Insurance Regulatory and Development Authority, or Irda, plans to permit insurers to trade in equity futures and options contracts , which will help the companies protect returns from equity-linked products against sharp stock market declines. "The rules w...

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Category : Finance | Comments : 0 | Hits : 289

ICAI committee to help corporates identify CSR projects
Posted Date : 14-Mar-2011 , 09:28:11 pm | Posted By CASANSAAR

Accounting regulator ICAI has formed an advisory committee of chartered accountants to help corporates identify social sector projects on which they would be required to spend two% of their net profit.   The Public Advisory Committee, of the Institute o...

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Category : ICAI | Comments : 0 | Hits : 356

Memorandum of Understanding between ICSI and United Stock Exchange of India Ltd.(USE)
Posted Date : 14-Mar-2011 , 09:27:35 pm | Posted By CASANSAAR

The Institute entered into an MOU with United Stock Exchange of India Ltd.on March 07, 2011United Stock Exchange of India Limited (USE) is India’s newest stock exchange and has been promoted by 21 Indian public sector banks, private banks and corporate houses. The...

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Category : ICSI | Comments : 0 | Hits : 337

Simplification of DIN rules
Posted Date : 14-Mar-2011 , 09:26:41 pm | Posted By CASANSAAR

Ministry’s has re-examined the process of allotment of Directors Identification Number (DIN) to be obtained u/s 266B of the Companies Act, 1956. The present process is cumbersome and time consuming. Representations have been received in the Ministry that the documents req...

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Category : Corporate Law | Comments : 0 | Hits : 319

CAG for directorate of social audit in states for MGNREGA
Posted Date : 14-Mar-2011 , 09:25:49 pm | Posted By CASANSAAR

Entrusted with the task of improving the social audit process in MGNREGA following reports of malpractices and corruption, the Comptroller and Auditor General has recommended to the states to set up directorates to train auditors from civil society. The audit w...

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Category : Auditing | Comments : 0 | Hits : 455

Finmin wants RBI to focus on inflation as crude prices harden
Posted Date : 14-Mar-2011 , 09:25:08 pm | Posted By CASANSAAR

Concerned over worsening political turmoil in the Middle-East and the impact of rising global crude prices on the domestic economy, the Finance Ministry has suggested the Reserve Bank to focus on steps to contain inflation. An indication to this effect was give...

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Category : Finance | Comments : 0 | Hits : 313

'Govt to get new study conducted on black money issue'
Posted Date : 14-Mar-2011 , 09:24:16 pm | Posted By CASANSAAR

The government today said it will get a new study conducted on black money stashed by Indians within and outside the country by July next year. The government has decided to get a fresh study conducted on unaccounted income and wealth, both inside and outside t...

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Category : Income Tax | Comments : 0 | Hits : 297

Treat tax payers as clients, FM tells IRS probationers
Posted Date : 14-Mar-2011 , 09:23:46 pm | Posted By CASANSAAR

Describing the committed taxpayers as “engines of economy”, Finance Minister Pranab Mukherjee today exhorted the young IRS probationers to treat them as their clients and not as adversaries.   “The assessee is no longer considered an a...

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Category : Income Tax | Comments : 0 | Hits : 332

GST may not be implemented from April 2012: FM
Posted Date : 14-Mar-2011 , 12:30:29 pm | Posted By CASANSAAR

The government today said it may not be possible to roll out the Goods and Services Tax (GST) from April next year, as the proposal needs consent from all the states. "...the (GST) legislation cannot be voted upon until the ratification is completed.....

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Category : GST | Comments : 0 | Hits : 330

Government deferred IFRS implementation
Posted Date : 14-Mar-2011 , 12:28:47 pm | Posted By CASANSAAR

The government has deferred the implementation of international financial reporting standards , acknowledging industry demand to extend the April 1 deadline to remove ambiguities on taxation issues. The decision has come as a relief for over 300 large companies, which were to s...

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Category : IFRS | Comments : 0 | Hits : 600

All banks to have CIOs soon: RBI
Posted Date : 14-Mar-2011 , 12:27:55 pm | Posted By CASANSAAR

Reserve Bank executive director G Gopalakrishna, speaking to reporters on the sidelines of a banking technology conference here, further said the banks will have to implement the facility of "second factor verification" at merchant establishments and ATMs shortly. ...

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Category : RBI | Comments : 0 | Hits : 363

Govt collects 300 cr in penalties from new operators
Posted Date : 14-Mar-2011 , 12:26:59 pm | Posted By CASANSAAR

The government has collected over Rs 300 crore in penalties from new telecom service providers that failed to roll-out their networks within the stipulated timeframe after getting licences and spectrum. "As of last Friday, we have received Rs 300.04 crore penalties...

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Category : General | Comments : 0 | Hits : 339

ICSI welcomes budget 2011-12
Posted Date : 14-Mar-2011 , 12:25:50 pm | Posted By CASANSAAR

The Institute of Company Secretaries of India welcomed the Budget for the year 2011-12 placed before the Parliament by Finance Minister Pranab Mukherjee. Institutional initiatives to deal with corruption and black money proposed in the budget would go a lo...

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Category : ICSI | Comments : 0 | Hits : 306

Probe into Satyam scam to end in 6 months: ICAI President
Posted Date : 14-Mar-2011 , 12:25:05 pm | Posted By CASANSAAR

The New President of the Institute of Chartered Accountants of India, G Ramaswamy has said a special bench has been constituted to look into the Satyam matter. The special bench includes nominees from the central bureau of investigation and the comptroller and auditor general o...

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Category : ICAI | Comments : 0 | Hits : 358

2G scam: CBI questions former TRAI chairman
Posted Date : 14-Mar-2011 , 12:24:13 pm | Posted By CASANSAAR

 Former Telecom Regulatory Authority of India (TRAI) chairman Nripendra Misra was today questioned by the CBI in connection with the 2G spectrum allocation scam. Misra, who was also the Secretary in the Telecom Ministry, had taken over the chairmanshi...

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Category : General | Comments : 0 | Hits : 323

Salary earners with income till Rs 5 lac need not file returns
Posted Date : 14-Mar-2011 , 12:22:58 pm | Posted By CASANSAAR

Salary earners having an income of less than Rs 5 lakhs will not have to file tax returns from this year, a finance ministry official said. "Salaried people, may be up to Rs 5 lakh...they need not file the (income tax) return," CBDT chairman Sudh...

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Category : Income Tax | Comments : 0 | Hits : 686

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