BSE eyes IPO next year, seeks $1 billion value
Posted Date : 06-Dec-2012 , 10:08:14 pm | Posted By CASANSAAR
BSE Ltd, the operator of the Bombay Stock Exchange which has lost market share to rivals, has chosen 14 banks for a share offering planned for the first half of 2013, its chief executive said.
The company, which operates Asia's oldest stock exchange, is seeking an initial public share offering ...
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Shares & Stock |
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Circulation of Fake Currency Notes
Posted Date : 06-Dec-2012 , 10:06:04 pm | Posted By CASANSAAR
National Crime Records Bureau (NCRB) has informed that the total number of Fake Indian Currency Notes (FICN) seized and recovered in the years 2009-10, 2010-11 and 2011-12 has been as follow:-
Period
Total No. of FICN
Total Value (Rs.)
2009-10
670631
26,81,54,...
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Finance |
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0 | Hits : 852
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Announcement for Financial Assistance from Chartered Accountants Students Benevolent Fund
Posted Date : 06-Dec-2012 , 07:40:30 am | Posted By CASANSAAR
THE CHARTERED ACCOUNTANTS STUDENTS BENEVOLENT FUND(CASBF)
The Board of Trustees of The Chartered Accountants Students Benevolent Fund have decided to grant financial assistance to 200 students (who are currently undergoing articled training in accordance with The Chartered Accountants R...
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Students Zone |
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0 | Hits : 1141
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Securities transaction tax collection down 13% as trading volumes plunge
Posted Date : 06-Dec-2012 , 07:26:55 am | Posted By CASANSAAR
Securities transaction tax (STT) collections dipped 12.9% during the April to November 2012 period, as weak investor sentiments over the past several months resulted in a dip in trading volumes.The Income-tax department collected Rs 2,905 crore in STT during the period, compared with ...
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Shares & Stock |
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0 | Hits : 667
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IT dept raids singers, actors, film distributors in Punjab
Posted Date : 06-Dec-2012 , 07:25:05 am | Posted By CASANSAAR
The investigations wing of the income tax (IT) department on Wednesday seized Rs 80 lakh in cash and a large amount of unaccounted jewellery in raids that were conducted at 28 different places across Punjab to check tax evasion by top Punjabi singers, actors, film distributors and music companies. T...
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Income Tax |
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RBI fixes reference rate of rupee for US dollar and EURO
Posted Date : 06-Dec-2012 , 07:21:30 am | Posted By CASANSAAR
The Reserve Bank today fixed the reference rate of the rupee for the US dollar at 54.5690 and the euro at 71.5 as against 54.9 a dollar and 71.7 a euro as on Tuesday.In a press release issued by RBI, the exchange rates for the pound and yen against the rupee were quoted at 87.9 a pound and 66.3 per ...
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RBI |
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Auditors in trouble on defaults
Posted Date : 05-Dec-2012 , 08:14:28 am | Posted By CASANSAAR
Auditors could be in trouble in case their client companies default on loan repayments.
Under new government norms that seems to upset the independent accounting watchdogs, banks can now lodge a formal complaint against the auditors with the Institute of Chartered Accountants of India (I...
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Auditing |
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RBI sets up supervisory college for SBI and ICICI Bank
Posted Date : 05-Dec-2012 , 08:09:07 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has set up a supervisory college for State Bank of India (SBI) and ICICI Bank Ltd, in order to deal with supervisory issues revolving around the banks and establish a cooperation mechanism for cross-border supervision.
For SBI, there are nine host country sup...
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Banking |
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RIL to be made party to insider trading case between Sebi, RTI activist Arun Agarwal
Posted Date : 05-Dec-2012 , 07:56:36 am | Posted By CASANSAAR
The Bombay High Court has directed thatReliance Industries be made a party to the case between the Securities and Exchange Board of India (Sebi) and right-to-information (RTI) activist-cum-lawyer Arun Agarwal, who is seeking release of names involved in an insider ...
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Shares & Stock |
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0 | Hits : 692
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Independent Regulator for Auditors
Posted Date : 04-Dec-2012 , 08:54:42 pm | Posted By CASANSAAR
The Parliamentary Standing Committee on Finance which examined the Companies Bill, 2009 and the Companies Bill, 2011 had recommended that the National Advisory Committee on Accounting and Auditing Standards (NACAAS), proposed in the Companies Bill, 2009, be institutionalized not only as a body for s...
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Auditing |
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0 | Hits : 1411
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FDI Proposal Worth Rs. 27 Crore Cleared
Posted Date : 04-Dec-2012 , 08:52:50 pm | Posted By CASANSAAR
The Government has approved one proposal of Foreign Direct Investment amounting to Rs. 27.72 croreapproximately. The Foreign Investment Promotion Board (FIPB) approved it while considering the 14 pending proposals decision on which was deferred at its earlier ...
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International Business |
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Policy Document on Corporate Governance
Posted Date : 04-Dec-2012 , 08:49:39 pm | Posted By CASANSAAR
Ministry of Corporate Affairs had constituted a committee to formulate a Policy document on Corporate Governance under the Chairmanship of Shri Adi Godrej on 07.03.2012.
Giving this information in written reply to a question in the Rajya Sabha, Shri Sachin Pilot, Minister of Corporate Affa...
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Corporate Law |
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0 | Hits : 704
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Cheque signature mismatch may lead to criminal proceedings
Posted Date : 04-Dec-2012 , 07:29:39 am | Posted By CASANSAAR
A Bench of justices T.S. Thakur and Gyan Sudha Mishra set aside the verdict of Gujarat High Court which had held that criminal proceedings for dishonouring of cheque can be initiated only when the cheque is dishonoured because of lack of sufficient amount in the bank account and not in case where a ...
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Category :
Banking |
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Tax exemption to political parties in 5 years: a whopping Rs 2,490 crore
Posted Date : 04-Dec-2012 , 07:24:56 am | Posted By CASANSAAR
Ten main political parties of the country had a whopping Rs 2,490 crore of tax-exempted income in the last five years, according to information from the Income Tax department through an RTI plea. Of this the ruling Congress and the main Opposition party BJP have cornered more than 80 per cent.
&nbs...
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Income Tax |
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0 | Hits : 849
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SC restores limit of 200 SMSes per day per SIM
Posted Date : 04-Dec-2012 , 07:22:41 am | Posted By CASANSAAR
The Supreme Court has stayed Telecom Disputes Settlement and Appellate Tribunal ,TDSAT's order, which had quashed the sector regulator TRAI's circular limiting the number of SMSes to 200 per day per SIM.In a brief hearing on Monday, a bench headed by Justice G S Singhvi stayed the tribunal's order a...
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Category :
General |
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SC to Sahara: Refund Rs 24k crore or face consequences
Posted Date : 04-Dec-2012 , 07:19:50 am | Posted By CASANSAAR
The Supreme Court on Monday gave two Sahara companies 24 hours to decide whether they would comply with the apexcourt's three-month-old directive to refund Rs 24,000 crore to nearly 3 crore investors throughmarket regulator Sebi or face the consequences.
"Tell us by tomorrow (T...
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Category :
Income Tax |
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0 | Hits : 750
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Rs 1.33 lakh crore tax non-recoverable: Finance Ministry to Parliamentary panel
Posted Date : 03-Dec-2012 , 05:57:51 am | Posted By CASANSAAR
A Parliamentary committee has come down heavily on the Finance Ministry for writing off over Rs 1.33 lakh crore as non-recoverable direct tax saying it owes an explanation on how the situation was allowed to reach "irretrievable" levels.The Parliamentary Standing Committee on Fin...
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Income Tax |
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0 | Hits : 795
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Government will carry through FEMA notification on FDI in retail in Parliament, says Kamal Nath
Posted Date : 03-Dec-2012 , 05:40:33 am | Posted By CASANSAAR
The Parliamentary Affairs Minister, Mr. Kamal Nath has expressed confidence that the Government will be able to carry through the Federal Emergency Management Agency (FEMA) notification dealing with the FDI in retail in both Houses of Parliament. He said he is confident of his numbers and has good r...
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FEMA |
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Check your cheque status, only those in new format will be honoured from January 1
Posted Date : 03-Dec-2012 , 05:39:43 am | Posted By CASANSAAR
Add one more item — get a new cheque book — to your list of 'things to do' before the New Year. You may not be able to use your old cheques from next year with the implementation of the new Cheque Truncation System (CTS-2010), which will eliminate physical movement of cheques f...
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Banking |
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0 | Hits : 2185
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10 floors, 48 hrs; it is realty magic
Posted Date : 02-Dec-2012 , 09:04:56 am | Posted By CASANSAAR
The architectural novel stood tall on an industrial plot in the township with no sand or bricks used in the process. After two days of relentless effort by nearly 200 technicians, skilled workers and 25 engineers, the red and grey building has a become the centre of attraction.
Work on the bu...
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Category :
General |
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0 | Hits : 861
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Scheduled Commercial Banks Permitted to become Members of SEBI Recognized Stock Exchanges
Posted Date : 02-Dec-2012 , 09:03:22 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has issued circular dated November 5, 2012, permitting Scheduled Commercial Banks (SCBs) to become members of the stock exchanges recognized by Securities and Exchange Board of India (SEBI) for the purpose of undertaking proprietary transactions in the corporate bond ...
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SEBI |
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FinMin raises FII limit in G-Secs, corp bonds
Posted Date : 01-Dec-2012 , 08:15:24 am | Posted By CASANSAAR
In a move aimed at attracting greater capital flows to help fund the current account deficit, the government has allowed foreign institutional investors to invest an additional $10 billion in government and corporate bonds, raising the overall window to $ 75 billion annually.
...
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Finance |
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0 | Hits : 1010
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Sahara group moves Supreme Court against Securities Appellate Tribunal's order
Posted Date : 01-Dec-2012 , 08:06:35 am | Posted By CASANSAAR
On a day the three-month deadline ended for two Sahara group companies to refund Rs 24,000 crore to investors through market regulator Sebi, Sahara approached theSupreme Court on Friday with a Rs 5,126-crore offer as repay ment to investors and, in the process, prove its bonafides as ...
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Income Tax |
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0 | Hits : 837
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ICAI President's Message - December 2012
Posted Date : 01-Dec-2012 , 08:00:19 am | Posted By CASANSAAR
Dear Friends,
To begin with, let me first convey, on behalf of our accounting fraternity, heartiest congratulations to the Hon’ble Shri Sachin Pilot for taking over as new Union Minister of Corporate Affairs (Independent Charge). Known for his youthful, energetic and dyn...
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ICAI |
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EBay's double tax base prompts calls for investigation
Posted Date : 01-Dec-2012 , 07:53:05 am | Posted By CASANSAAR
Britain and Germany may have missed out on a combined $1 billion in sales tax since online marketplace eBay picked a tiny Luxembourg office as its base for EU sales, a shift that lawmakers say should now be investigated. EBay's nomination of Luxembourg unit eBay Europe Sarl ...
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International Business |
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0 | Hits : 880
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EPFO launches e-Passbook service
Posted Date : 01-Dec-2012 , 07:50:30 am | Posted By CASANSAAR
Over 50 million PF subscribers can now access their accounts online asretirement fund body EPFO launched its e-Passbook service today. Active subscribers whose electronic challan-cum-return is already uploaded, candownload their e-Passbook every month under the service launched by the EPFO...
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General |
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A Personal Appeal to all CAs
Posted Date : 30-Nov-2012 , 08:59:30 am | Posted By CASANSAAR
Dear friends!
Nothing is permanent except change! the time for Change has come for ICAI...Chnage in policy...in leadership...in thought..in system...,
This time we all members to be very careful and elect the true & mature leaders for the central and regional council. We appeal all the CAs n...
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Category :
Income Tax |
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0 | Hits : 1341
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Non-compete fees can be treated as deductible expense: Tribunal
Posted Date : 30-Nov-2012 , 08:32:34 am | Posted By CASANSAAR
In a landmark judgment the Mumbai bench of the Income Tax Appellate Tribunal has said that non-compete fees paid by an acquiring company to exiting promoters can be treated as an expense if the fees are not central to the deal. In the past the income tax department considered suc...
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Category :
Income Tax |
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0 | Hits : 885
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87 companies under scanner for multi-level marketing schemes
Posted Date : 30-Nov-2012 , 08:07:21 am | Posted By CASANSAAR
A total of 87 companies have come under the government scanner for allegedly running illegal multi-level marketing (MLM) investment schemes and seven of them are being probed for possibly serious frauds.
The government has ordered inspection of accounts of remaining 80 companies f...
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General |
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0 | Hits : 847
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Rs 69,465 cr service tax collected in first 7 months of FY 12-13
Posted Date : 30-Nov-2012 , 08:01:31 am | Posted By CASANSAAR
Service tax collection during the first seven months of this fiscal stood at Rs 69,465 crore, Parliament was informed today.
"During the period from the month of April to October 2012, total amount of service tax collected was Rs 69,465 crore," Finance MinisterP Chidambaram said i...
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Category :
Service Tax |
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