Election of CCI Chairperson as Chair of UNCTAD's IGE on Competition law and policy
Posted Date : 10-Jul-2012 , 07:28:18 am | Posted By CASANSAAR
"Mr. Ashok Chawla , Chairperson , Competition Commission of India has been elected unanimously the chair of the 12th session of Intergovernmental Group of Experts (IGE) on Competition law and policy, UNCTAD in Geneva. His name was proposed by the Chairperson of Competition Commission of Pakistan.UNC...
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Corporate Law |
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Stipend for CA aspirants will be hiked by 2.5 times to 3 times - ICAI
Posted Date : 09-Jul-2012 , 07:19:43 am | Posted By CASANSAAR
A minimum stipend offered to the CA aspirants doing articleship at CA firms will be hiked by 2.5 times to 3 times, president of the Institute of Chartered Accountants of India(ICAI) Jayesh Shah announced.
Talking to newsmen on the sidelines of a conference of CA students, Shah said the amou...
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Students Zone |
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MCA fine-tuning provision for mandatory rotation of auditors
Posted Date : 09-Jul-2012 , 07:17:34 am | Posted By CASANSAAR
The Corporate Affairs Ministry is fine-tuning the provisions of the new Companies Bill over the mandatory rotation of statutory auditors every five years to make them more "practical", MCA Minister Veerappa Moily said on Friday."Not exactly diluted, it is being fine-tuned, working something more pra...
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Corporate Law |
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CBDT may get Poonam Saxena as new chief
Posted Date : 09-Jul-2012 , 07:13:19 am | Posted By CASANSAAR
The CBDT, responsible for administration of direct taxes, is likely to have a woman as its chairperson after six years. A Finance Ministry official said the name of Poonam Kishore Saxena, a 1974-batch Indian Revenue Services (IRS) officer, has been forwarded to Prime Minister Manmohan Singh for appo...
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Income Tax |
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Punjab seeks withdrawal of proposed tax on NRI remittances
Posted Date : 09-Jul-2012 , 07:10:08 am | Posted By CASANSAAR
Punjab Chief Minister Parkash Singh Badal today asked Prime Minister Manmohan Singh to immediately withdraw any proposal to impose 12.36 per cent tax on remittances from NRIs.
In a letter to the Prime Minister, Badal said that it has come to his notice that the Un...
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Category :
Service Tax |
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Black money: I-T consumes most FIU generated suspicious reports
Posted Date : 09-Jul-2012 , 07:06:56 am | Posted By CASANSAAR
The Income Tax department, which is at the forefront of cracking down against black money, has been the largest consumer of Suspicious Transaction Reports (STRs) generated by the elite financial intelligence unit, an official data has revealed.The I-T department, with a total of 26,488 STRs in the l...
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Income Tax |
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0 | Hits : 226
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Sebi mulls independent SRO for stock exchanges
Posted Date : 09-Jul-2012 , 07:05:36 am | Posted By CASANSAAR
Capital market regulator Sebi plans to set up an independent SRO ( Self Regulatory Organisation) for stock exchanges, but wants the day-to-day trading regulations and surveillance actions to remain with bourses themselves.
Under the existing regulatory framework in In...
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SEBI |
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Facebook inching towards job recruiting
Posted Date : 07-Jul-2012 , 10:43:12 pm | Posted By CASANSAAR
Soon the popular social networking site Facebook will become a recruiter, as per knowledgeable sources, by launching its own job board after teaming with existing job-posting companies, the sources said.
Citing anonymous sources, media reports said that BranchOut, Jobvite and Work4Labs will...
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International Business |
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ICAI to waive off CPT for graduates with good marks
Posted Date : 07-Jul-2012 , 08:05:18 am | Posted By CASANSAAR
Those aspiring for chartered accountancy (CA) as a career option will no longer have to appear for common proficiency test (CPT) provided they score well in graduation.
The Institute of Chartered Accountants of India (ICAI) has proposed to forgo the CPT exams for commerc...
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Students Zone |
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2 | Hits : 3026
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India's tax proposals: Domestic laws should not over-ride tax treaties, says Mauritius
Posted Date : 07-Jul-2012 , 08:01:49 am | Posted By CASANSAAR
Amid concerns over India's new tax proposals, Mauritius on Friday said domestic legislations should not over-ride the double taxation avoidance treaties between the two countries."Once 'Limitation of Benefit' clause is embedded in the taxation treaties, we expect it to prevail and no domestic legisl...
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Income Tax |
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ICAI Election 2012 (Option for Polling Booths in Delhi/New Delhi, Mumbai and Kolkata Cities)
Posted Date : 06-Jul-2012 , 10:12:11 pm | Posted By CASANSAAR
The next elections to the Council and the Regional Councils of the Institute ofChartered Accountants of India are scheduled to be held on 7th and 8thDecember,2012 in cities having more than 2500 members and on 8thDecember, 2012 at allother places in terms of the provisions of Rule 21 of the Cha...
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ICAI |
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IGL hikes CNG price in NCR by Rs 2.90/kg
Posted Date : 06-Jul-2012 , 10:04:41 pm | Posted By CASANSAAR
CNG price in the national capital and adjoining towns was hiked today by a steep Rs 2.90 per kg, the third increase this year.
Compressed natural gas (CNG) in Delhi will cost Rs 38.35 per kg with effect from midnight tonight,Indraprastha Gas Ltd , the sole retailer of CNG and piped nat...
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General |
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Controlling fiscal deficit, tax clarity,clearing FI proposal backlog top priority:PM
Posted Date : 06-Jul-2012 , 10:01:54 pm | Posted By CASANSAAR
Prime Minister Manmohan Singh has assured the international community that India offers a level playing field for foreign investors and there will be no arbitrariness in tax matters. Speaking in an interview to a leading daily, the Prime minister identified, controlling fiscal deficit, achieving cla...
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Finance |
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0 | Hits : 253
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RBI gives corporates one more year to pre-pay foreign loans
Posted Date : 06-Jul-2012 , 07:54:39 am | Posted By CASANSAAR
The Reserve Bank today extended the scheme for corporates to get rid of their overseas loans by pre-paying them as weak rupee increases their debt obligation.
The pre-payment of foreign currency convertible bonds (FCCBs) "shall come into force with immediate effect and the entire process of...
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RBI |
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SEBI cuts deadline for transfer of shares to 15 days
Posted Date : 06-Jul-2012 , 07:51:54 am | Posted By CASANSAAR
The stock market regulator SEBI has reduced the deadline for transfer of equity shares from one month to 15 days.
Henceforth, shares lodged for transfer with registrars will take 15 days for registration from the date of lodgement.
In addition, SEBI has also prescribed 15 days for ...
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SEBI |
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Tax officials stumble upon a list of names from another Swiss bank; unlikely to ‘nab’ all account holders
Posted Date : 06-Jul-2012 , 07:47:30 am | Posted By CASANSAAR
The last time the taxman went after those with Swiss bank accounts, many said they had no clue how their names cropped up; quite a few escaped saying that they were non-residents, some simply ignored the missives, and only a few broke down and confessed.And there were the hard nuts who, without...
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Income Tax |
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49 Lakh debtors in default of Rs 1 lakh crore of banks: RTI
Posted Date : 05-Jul-2012 , 06:24:46 pm | Posted By CASANSAAR
Over 49 lakh debtors have defaulted in repaying loans totalling more than Rs one lakh crore from various nationalised banks in the country, an RTI query has revealed.The information was provided by individual banks to Om Prakash Sharma, an RTI activist and a former National Council member of BJP.The...
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Banking |
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Implementation of e-Diary (Student’s Work Diary) system Postponed.
Posted Date : 05-Jul-2012 , 01:32:45 pm | Posted By CASANSAAR
BoS/Announcement/227/12
July 4, 2012
Sub: Implementation of e-Diary (Student’s Work Diary) system
All Articled/ Audit Assistants are hereby informed that due to technical issues implementation of e-diary system for capturing the work done by stude...
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Students Zone |
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ICSI: Practising Company Secretaries are recognised for appearance before the Delhi Value Added Tax (DVAT) Authorities
Posted Date : 05-Jul-2012 , 11:12:13 am | Posted By CASANSAAR
Dear Professional Colleagues,
Sub: Practising Company Secretaries are recognised for appearance before the Delhi Value Added Tax (DVAT) Authorities
We are pleased to inform you that the Government of Delhi has notified Delhi Value Added Tax (Second Amendment) Act, 2012 vide Notification No. F.14 ...
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VAT |
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No cap likely on audit firms’ clients in Cos Bill
Posted Date : 05-Jul-2012 , 08:19:27 am | Posted By CASANSAAR
The big four audit firms can breathe easy as the Ministry of Corporate Affairs (MCA) has decided there will be no cap on the number of companies an audit firm can take on as clients.
A source in the government told The Indian Express that the ministry has decided to drop the recomendation o...
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Corporate Law |
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Notification - CA Examinations November 2012
Posted Date : 04-Jul-2012 , 11:15:47 pm | Posted By CASANSAAR
No. 13-CA (EXAM)/N/2012: In pursuance of Regulation 22 of the Chartered AccountantsRegulations, 1988, the Council of the Institute of Chartered Accountants of India is pleased to notify thatthe Professional Competence Examination (PCE), Integrated Professional Competence Examination(IPCE) and Final ...
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Students Zone |
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Government extends interest subsidy scheme on home loans up to Rs 15 lakhs for one year
Posted Date : 04-Jul-2012 , 03:25:50 pm | Posted By CASANSAAR
The government on wednesday extended by one year the one per cent interest subsidy scheme on housing loans of up to Rs 15 lakh, where the cost of the house does not exceed Rs 25 lakh.
"When interest rates have risen, even one per cent relief is a relief for the middle class and lower middle c...
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General |
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Tax benefits cannot be withdrawn from a past date: Gujarat High Court
Posted Date : 04-Jul-2012 , 08:07:05 am | Posted By CASANSAAR
A Gujarat High Court verdict has thrown open the debate on constitutional validity of retrospective changes in the income tax laws. It has said that an amendment in income tax law, withdrawing benefits under a popular export incentive scheme, could not be done from a past date.A divis...
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Income Tax |
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Chartered Accountants are capable of putting a stop to corruption and black money - Narendra Modi
Posted Date : 04-Jul-2012 , 08:03:20 am | Posted By CASANSAAR
Kicking off the golden jubilee celebration of Institute of Chartered Accountant of India's (ICAI) Ahmedabad branch today Chief Minister Narendra Modi said that chartered accountants are capable of putting a stop to corruption and black money. They should come out for fulfill their obligation towards...
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Income Tax |
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No service tax on remittances to India by NRIs: PM
Posted Date : 04-Jul-2012 , 07:55:54 am | Posted By CASANSAAR
Prime Minister Manmohan Singh has dismissed reports of any plan to bring under the service tax ambit foreign remittances by overseas Indians, Kerala Chief Minister Oommen Chandy said today.
Singh has also sought details from the Finance Ministry on the issue, said Chandy who raised objectio...
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Service Tax |
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0 | Hits : 416
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SBI waives minimum balance criteria for savings bank account
Posted Date : 03-Jul-2012 , 10:02:39 pm | Posted By CASANSAAR
In order to attract new customers, State Bank of India (SBI) has done away with minimum balance criteria for saving banks account. SBI said in an advertisement that the bank will not levy any charge for breaching minimum balance criteria. It said that the facility is available to existing customers ...
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Banking |
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CCI imposes penalty of more than Eight Crores on Multi System Operators Group (Fast Way Group)
Posted Date : 03-Jul-2012 , 10:01:20 pm | Posted By CASANSAAR
The Competition Commission of India has found Fast Way Group abusing its dominance in the cable TV service in the territory of Punjab and Chandigarh in violation of the provisions of the Competition Act, 2002. The order was passed pursuant to investigation carried out by the Director General upon in...
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Corporate Law |
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0 | Hits : 306
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Roadmap to create world class Professionals soon: Moily
Posted Date : 03-Jul-2012 , 07:57:30 am | Posted By CASANSAAR
A meeting between three bodies including ICAI and ICSI, will be convened soon to prepare a roadmap to create world class professionals, who should be on demand at global level, corporate affairs minister M Veerappa Moily today said.
The meeting with the representatives of the Institute...
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Income Tax |
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1 | Hits : 546
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Govt forms seven-member panel to frame model Central GST legislation
Posted Date : 03-Jul-2012 , 07:53:56 am | Posted By CASANSAAR
After introducing the negative list for services, a crucial step for the implementation of proposed Goods and Services Tax (GST), the government has now started moving towards preparing a law that will govern Central GST.
According to sources, the finance ministry has formed a committee of ...
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GST |
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0 | Hits : 426
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No accounting wrong doing in Reebok, says auditor
Posted Date : 03-Jul-2012 , 07:48:44 am | Posted By CASANSAAR
Reebok's auditor N Narasimhan & Co has informed the ICAI the there was no accounting wrong doing in the company which has filed Rs 870-crore fraud case against two of its former employees. "Narsimhan & Co has said they are both the tax auditors and statutory auditors of the fi...
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Accounts |
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