Allahabad High Court issues notice in petition challenging imposition of service tax on lawyers
Posted Date : 16-Nov-2012 , 08:44:53 am | Posted By CASANSAAR
A Division Bench of Justices Uma Nath Singh and V.K. Dixit of the Allahabad High Court recently issued notice in a writ petition challenging the constitutionality of the imposition of service tax upon advocates and arbitral tribunals. The order issuing notice to the Attorney General of Ind...
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Service Tax |
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How CAs can Download Income Tax Form & Upload XML at Income tax website
Posted Date : 15-Nov-2012 , 10:26:45 pm | Posted By CASANSAAR
To file an Income Tax Formelectronically, you should download the Income Tax Form Utility applicable, fill and generate an XML. This XML should be uploaded in the application post LOGIN.
Steps to follow:
GO TO ‘Downloads&r...
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Income Tax |
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Change in Tariff Value of RBD Palmolein, Brass Scrap (All Grades) Poppy seeds, Gold and Silver Notified
Posted Date : 15-Nov-2012 , 07:41:05 pm | Posted By CASANSAAR
S.O. ____ (E).– In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the notification of the Go...
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Custom |
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Petrol price cut by 95 paise per litre
Posted Date : 15-Nov-2012 , 07:40:22 pm | Posted By CASANSAAR
Petrol price was today cut by 95 paise per litreon account of fall in international oil prices. It is the second reduction in rates since October.The cut will come into effect from midnight tonight.
Petrol in Delhi would cost 67.24 rupees a litre , down 95 paise from 68.19 rupees a ...
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General |
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Registeration process on Income Tax e-filing website as Professionals
Posted Date : 15-Nov-2012 , 09:13:05 am | Posted By CASANSAAR
1. Click on ‘ Register Yourself’ on the homepage or on the below link :-
https://incometaxindiaefiling.gov.in/e-Filing/Registration/RegistrationHome.html
2. Select the user type as ‘Chartered Accoutant’
4. 3. Provide Membership details with ICAI, ...
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Income Tax |
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DLF to issue fresh equity shares to reduce promoters' stake
Posted Date : 15-Nov-2012 , 09:07:29 am | Posted By CASANSAAR
Realty major DLF today said it will issue fresh equity shares in the next fiscal to dilute promoters' stake to 75 per cent as per market regulator SEBI's guidelines and will use the funds to cut debt. "In the medium term, (this will) further pare down the net debt ...
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Shares & Stock |
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0 | Hits : 695
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30 rules to keep bank accounts safe from fraudsters!
Posted Date : 15-Nov-2012 , 09:04:45 am | Posted By CASANSAAR
Banks have warned customers to follow 30 rules to keep their accounts safe from crooks or risk being left out of pocket.
Many banks in London are imposing sneaky terms and conditions to allow them to block compensation to innocent victims of chip-and-pin or Internet fraud.
The new rules include de...
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Banking |
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Google India slapped with Rs 76 crore fine
Posted Date : 15-Nov-2012 , 09:02:19 am | Posted By CASANSAAR
Google India, the Indian arm of the global search engine, is grappling with a Rs 76-crore penalty slapped by the income-tax authorities.
The tax office has said Google India has misled the department, deflated income, violated accounting rules laid down by the chartered account...
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Income Tax |
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ISA - AT 22nd December 2012 Examination Form
Posted Date : 14-Nov-2012 , 10:14:02 pm | Posted By CASANSAAR
Date of Examination : Saturday, 22 December, 2012
Timings of Examination : 10.30 a.m. to 2.30 p.m. (IST)
Cost of Application Form: Rs. 100/-
Examination Fee : Rs. 1000/- (Rupees One Thousand Only)
Last Date : 30 November, 2012
CLICK HERE TO DOWNLOAD FORM...
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ICAI |
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RBI to banks: Show action taken on unhedged forex risks
Posted Date : 14-Nov-2012 , 08:45:08 am | Posted By CASANSAAR
At a time when the risks from unhedged foreign currency exposure of companies has emerged as a big scare for the banking sector, theReserve Bank of India (RBI) has directed banks to furnish action taken reports on the issue before end-December 2012.
The direction on filing th...
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RBI |
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Vodafone makes no provision for $2.2-b Indian tax claim
Posted Date : 14-Nov-2012 , 08:40:18 am | Posted By CASANSAAR
Telecom giant Vodafone has decided against making a $2.2 billion (about Rs 12,000 crore) provision for its Indian tax bill, in a sign of the company’s confidence that it will not be held liable, following the legislative changes brought in by the Manmohan Singh Government.
F...
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Income Tax |
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0 | Hits : 717
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'Stock Guru' scamster couple held for Rs. 500cr fraud
Posted Date : 13-Nov-2012 , 08:43:23 am | Posted By CASANSAAR
A 33-year-old school dropout and his wife - masters of disguise and the alleged perpetrators of one of the biggest economic frauds in the country - were arrested for cheating lakhs of unsuspecting investors of around Rs. 500 crore in just two years, police claimed on Monday.
Ulhas...
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Shares & Stock |
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0 | Hits : 1178
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Google faces searching queries from tax officials; penalised Rs 76 cr for incorrect accounting
Posted Date : 13-Nov-2012 , 08:39:35 am | Posted By CASANSAAR
Google India Private Limited, the Indian arm of the global search engine, is grappling with a Rs 76-crore penalty slapped by the income-tax authorities.The tax office has said Google India has misled the department, deflated income, violated accounting rules laid down by the cha...
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Income Tax |
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I-T dept loses
Posted Date : 12-Nov-2012 , 09:00:10 am | Posted By CASANSAAR
The income tax department has lost a battle before the Income Tax Appellate Tribunal against UP chief minister Akhilesh Yadav where it had accused him and his wife Dimple of using "unaccounted" cash to convert the land use of a property purchased in their joint name...
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Income Tax |
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Forex reserves down at $294.34 billion on November 2: RBI
Posted Date : 10-Nov-2012 , 09:45:29 pm | Posted By CASANSAAR
India's foreign exchange reserves fell to $294.34 billion as of Nov. 2 from $295.29 billion in the previous week, RBI said in its weekly statistical supplement on Friday.
Changes in foreign currency assets, expressed in dollar terms, include the effect of appreciation or...
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International Business |
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Government in a Statement States that Appropriate Action has been Taken on the Information Received by it from the Government of France in June 2011
Posted Date : 10-Nov-2012 , 09:42:01 pm | Posted By CASANSAAR
Information was received in June, 2011 by the Government of India from the Government of France relating to certain bank accounts reportedly held by certain individuals/non-individuals in a foreign bank .Reference to this matter was made by the then Finance Minister during the course of the debate o...
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Income Tax |
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Direct cash transfers for schemes from Jan 1
Posted Date : 10-Nov-2012 , 09:40:04 pm | Posted By CASANSAAR
The government would operationalise a phase-wise shift from subsidy-based system to direct cash transfers for several of its schemes from January 1 next year.
The cash transfer system is expected to curb corruption, cut down on administrative costs and minimise the leakages becaus...
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Finance |
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Petrol likely to get cheaper by Re 1
Posted Date : 10-Nov-2012 , 08:54:48 am | Posted By CASANSAAR
Petrol price may be cut by as much as Re 1 per litre over the next few days when state-owned oil firms review rates.
Petrol prices were last revised on October 27 when they were raised by 29 paise to Rs. 68.19 per litre in Delhi following government raising the commission paid to petrol pum...
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General |
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RBI asks banks to strengthen credit monitoring as NPAs jump
Posted Date : 09-Nov-2012 , 08:20:07 am | Posted By CASANSAAR
The Reserve Bank today said the banks need to strengthen their due diligence and credit appraisal system along with overall monitoring mechanism to contain the rising bad assets seen in the banking system. "Banks need to, not only utilise effectively, the various measures put in plac...
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RBI |
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Infosys bags about $50 million deal from MCA to implement its e-governance solution
Posted Date : 09-Nov-2012 , 08:18:19 am | Posted By CASANSAAR
Infosys has won a five-year contract from Ministry of Corporate Affairs worth about USD 50 million to implement its e-governance solution MCA 21 v2. The MCA 21 v2 is a continuation of the existing MCA 21 project. "The company will provide services, applicatio...
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Corporate Law |
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Ramdev's trust accused of running a club, slapped Rs 12 crore service tax
Posted Date : 09-Nov-2012 , 08:16:02 am | Posted By CASANSAAR
Yoga guru Baba Ramdev’s Patanjali Yogpeeth and Divya Yog MandirTrust have been charged of running a club under the grab of a trust. The DirectorGeneral Of Central Excise Intelligence has imposed a service tax of Rs 12 crore on Ramdev's trust after alleging that it was ...
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Service Tax |
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CBDT disagrees with Shome panel, wants GAAR from next fiscal
Posted Date : 09-Nov-2012 , 08:13:42 am | Posted By CASANSAAR
Disagreeing with the Shome panel's recommendation, the CBDT is believed to have favoured implementation of the anti-tax avoidance rules GAARfrom the next financial year. The Central Board of Direct Taxes (CBDT), which submitted its report to Finance Minister P Chidambar...
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Income Tax |
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Panels to deal with CST compensation, GST framework issues: Chidambaram
Posted Date : 09-Nov-2012 , 08:12:21 am | Posted By CASANSAAR
With the States firm on seeking a settlement on the Central Sales Tax (CST) compensation issue before moving ahead with rollout of the Goods and Service Tax (GST), Finance Minister P. Chidambaram on Thursday announced that two committees would be constituted to address the conten...
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GST |
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Govt approves disinvestment of 10% stake in Hindustan Aeronautics
Posted Date : 08-Nov-2012 , 10:54:29 pm | Posted By CASANSAAR
A proposal for disinvestment of 10% of government equity in the country's only state-owned aerospace firmHindustan Aeronautics Limited was approved by the Union Cabinet on Thursday.
"The Cabinet Committee on Economic Affairs (CCEA) has approved divestment of 10% equity in&nbs...
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Finance |
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Direct tax collections rise 6.59 percent in April-October
Posted Date : 08-Nov-2012 , 10:49:16 pm | Posted By CASANSAAR
Subdued corporate tax realisation on account of slow economic activity kept growth in gross directtax collection at a mere 6.59 per cent during the April-October period of the current fiscal.The collection during the first seven months of 2012-13 was Rs 3.02 lakh crore, up from R...
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Income Tax |
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Disinvestment of 10 percent paid up equity of Hindustan Aeronautics Limited
Posted Date : 08-Nov-2012 , 10:46:04 pm | Posted By CASANSAAR
The Cabinet Committee on Economic Affairs has approved to divest 10 percent equity in Hindustan Aeronautics Limited (HAL) out of its holding of 100 percent through an Initial Public Offer (IPO) in the domestic market as per the Securities and Exchange Board of India (SEBI) Rules and Regulations. Fiv...
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Finance |
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Can't check every company filing: MCA
Posted Date : 08-Nov-2012 , 08:16:05 am | Posted By CASANSAAR
The Corporate Affairs Ministry has said that it is "neither intended nor feasible" for the Registrar of Companies to check content of every filing made by the firms.
Noting that there are more than eight lakh companies registered with various Registrars of Companies (RoCs) in the ...
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Corporate Law |
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Sebi allows FIIs to reinvest half of investment in debt holdings
Posted Date : 08-Nov-2012 , 08:09:58 am | Posted By CASANSAAR
Easing norms for foreign investors, Sebi on Wednesday allowed them to re-invest half of their investments in debt holdings to the next calendar year, starting from January 2014.Once the relaxation is in place, Foreign Institutional Investors (FIIs) and their sub-accounts can re-invest 50 per cent of...
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Income Tax |
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0 | Hits : 708
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Government flags concerns about cost auditing at companies
Posted Date : 08-Nov-2012 , 08:08:49 am | Posted By CASANSAAR
Taking a tough stance against shortcomings in the auditing procedures of a large number of companies, the government has said that the corporates and their 'cost auditors' are not doing their job seriously. To address the issue and ensure highest quality standards, the Ministry of Corporat...
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ICWAI |
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0 | Hits : 924
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RBI issues guidelines on liquidity management
Posted Date : 08-Nov-2012 , 08:08:02 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Tuesday said banks should fix a lower limit for their IBL (inter-bank liability).
“The IBL of a bank should not exceed 200 per cent of its net worth as on March 31 of the previous year. However, individual banks may, with the approval of their board ...
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RBI |
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