SEBI cautions investors against Sahara's pressure
Posted Date : 28-Oct-2012 , 09:37:14 am | Posted By CASANSAAR
Securities and Exchange Board of India, SEBI has advised investors against yielding to any pressure from Sahara or their agents for switching over their investments in two companies -- Sahara India Real Estate Corp Ltd, SIRECL and Sahara Housing Investment Corp Ltd, SHICL-- to other group companies....
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SEBI |
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CBDT panel recommends 14 tax accounting standards
Posted Date : 27-Oct-2012 , 08:26:20 am | Posted By CASANSAAR
A CBDT appointed committee has recommended as many as 14 tax accounting standards.
These standards, also known as TAS, if and when adopted, will have a significant impact on computation of income chargeable to tax.
The Finance Ministry o...
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Income Tax |
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India Signs Protocol for Amending the Convention for Avoidance of Double Taxation & Prevention of Fiscal Evasion
Posted Date : 27-Oct-2012 , 08:24:12 am | Posted By CASANSAAR
The Government of the Republic of India and the Government of the Kingdom of Spain signed here today the Protocol for amending the Convention and Protocol between the Government of the Republic of India and the Government of the Kingdom of Spain for avoidance of double taxation and the preventi...
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Income Tax |
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0 | Hits : 665
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CAG to conduct audit on RIL
Posted Date : 27-Oct-2012 , 08:20:43 am | Posted By CASANSAAR
The Comptroller and Auditor General (CAG) is likely to carry out a performance audit similar to its first round rather than limit itself to scrutinizing the financial accounts of Reliance Industries Ltd's (RIL) Andhra offshore gas field. CAG sources said its auditors have the man...
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Auditing |
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0 | Hits : 702
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Mark-to-Market advantage on forex derivatives may go
Posted Date : 27-Oct-2012 , 08:18:37 am | Posted By CASANSAAR
A panel set up by the Central Board of Direct Taxes (CBDT) has proposed new tax accounting standards (TAS) that seek to take away from India Inc the advantage of mark-to-market provisioning for gains or losses on investments in forex derivatives.The committee's report, ...
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Income Tax |
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Former Italian prime minister sentenced to prison for tax fraud
Posted Date : 27-Oct-2012 , 08:13:33 am | Posted By CASANSAAR
Former Italian prime minister Silvio Berlusconiwas on Friday sentenced to four years in jail, quickly reduced to one - for tax fraud with Italy's lengthy appeals process likely to ensure he never sees the inside of a prison cell. Scandal-hit Berlusconi, 76, condemned th...
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Income Tax |
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0 | Hits : 737
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India, Spain sign tax avoidance agreement
Posted Date : 27-Oct-2012 , 08:10:37 am | Posted By CASANSAAR
India on Friday signed a tax avoidance agreement with Spain that will facilitate exchange of information on its tax evaders and getting details of financial transactions of domestic companies.
The agreement on amending the protocol for avoidance of double taxation and the ...
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Income Tax |
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0 | Hits : 647
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RBI gives licence to eight new cooperative banks in Lucknow
Posted Date : 26-Oct-2012 , 07:59:24 pm | Posted By CASANSAAR
Reserve Bank of India has given licence to eight new cooperative banks in the state, Cooperative minister Shivpal Singh Yadav said here today.Yadav said with the licence to eight new banks the total number of cooperative banks would rise to 33 in the state.These new banks would come in Lucknow...
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Banking |
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SC: Courts should be cautious in implicating family members in dowry cases
Posted Date : 26-Oct-2012 , 07:56:10 pm | Posted By CASANSAAR
The Supreme Court has said that family members of a man should not be implicated in a dowry case just because their names have been mentioned in the complaint without any specific allegation levelled against them. The apex court said that courts should be cautious in implicating family members ...
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General |
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0 | Hits : 816
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Centre, states near consensus on Goods and Services Tax
Posted Date : 26-Oct-2012 , 08:20:16 am | Posted By CASANSAAR
The UPA government's most ambitious tax reform, the Goods and Services Tax (GST), moved a step closer to implementation as the Centre and the states narrowed down their differences on several contentious issues. An announcement is likely on November 8 when finance ministerP Chida...
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GST |
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After MCA, Income Tax begins probing Nitin Gadkari's Purti companies
Posted Date : 26-Oct-2012 , 08:19:01 am | Posted By CASANSAAR
After Ministry of Corporate Affairs, Income Tax department too has launched a probe to trace the source of funding of various firms that invested in BJP president Nitin Gadkari's company Purti Power and Sugar Limited (PPSL).
"We will trace the source the funds of the companies including the...
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Income Tax |
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0 | Hits : 659
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Petrol price to go up by 30 paise a litre, diesel by 18 paise
Posted Date : 25-Oct-2012 , 09:36:39 pm | Posted By CASANSAAR
Petrol prices will be increased by 30 paise per litre and diesel by 18 paise a litre after the government decided to increase the commission paid to petrol pump dealers.
Petrol is currently priced at Rs 67.90 per litre in Delhi and diesel Rs 46.95. After the hike, petrol will co...
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Finance |
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0 | Hits : 695
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PM sets National Committee for direct cash transfer
Posted Date : 25-Oct-2012 , 09:34:33 pm | Posted By CASANSAAR
Prime Minister Dr Manmohan Singh has constituted a committee to coordinate action for the introduction of direct cash transfers to individuals under the various government schemes and programmes.The National Committee on Direct Cash Transfers chaired by the Prime Minister will provide an overarching...
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Finance |
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0 | Hits : 760
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Disinvestment of 10 percent paid up equity capital in National Mineral Development Corporation
Posted Date : 25-Oct-2012 , 09:33:55 pm | Posted By CASANSAAR
The Cabinet Committee on Economic Affairs today approved the disinvestment of 10 per cent paid up equity capital (39,64,71,600 shares, each of Full Value of Rs.1/-) of NMDC out of the Government’s shareholding of 90 percent through ‘Offer for the Sale of Shares through Stock Exchange&rsq...
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Finance |
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DGST eyes tax on 1.19 lakh cr worth of foreign remittances
Posted Date : 25-Oct-2012 , 08:57:44 am | Posted By CASANSAAR
Following a three-month investigation, the Directorate General of Service Tax (DGST) is set to approach 6,500 bank branches across the country this month to impose service tax on foreign remittances worth Rs 1,19,000 crore towards import of services.
The move aims to plug “p...
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Service Tax |
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0 | Hits : 762
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Ex-Goldman Sachs director Rajat Gupta gets 2-year sentence and $5m fine for insider trading
Posted Date : 25-Oct-2012 , 08:55:31 am | Posted By CASANSAAR
A former Goldman Sachs and Procter & Gamble Co. board member once widely respected worldwide for his business smarts was sentenced Wednesday to 2 years in prison for feeding inside information about board dealings with a billionaire hedge fund owner who was his friend.
The India...
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Income Tax |
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0 | Hits : 694
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Sebi seeks strong legislation to check public money collection
Posted Date : 24-Oct-2012 , 06:05:41 pm | Posted By CASANSAAR
Market watchdog Sebi has asked the government to frame a strong central legislation to tackle the menace of companies collecting large amount of money from the public without requisiteregulatory approvals and for dubious investment projects.Stating the existing legal provisions a...
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SEBI |
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RBI allows domestic companies to make payments in SEZ in foreign currency
Posted Date : 24-Oct-2012 , 06:02:37 pm | Posted By CASANSAAR
The Reserve Bank of India has allowed domestic companies to make payments to units in special economic zones in foreign currency for the services delivered by them. Earlier, this facility was allowed only for payments made for goods. The move assumes significance as the tax-free zones are losing she...
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RBI |
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Govt seeks applications for post of CCI member
Posted Date : 24-Oct-2012 , 08:39:48 am | Posted By CASANSAAR
The government has invited applications for the post of a member at the Competition Commission of India (CCI), the regulator that keeps a tab on anti-competitive practices in the market.
The post would be filled up by direct recruitment and government officials, if chosen, would have to seek ...
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General |
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0 | Hits : 924
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Govt asks PSUs to invest surplus cash or pay special dividend
Posted Date : 24-Oct-2012 , 08:37:45 am | Posted By CASANSAAR
Faced with difficult government finances, Prime Minister Manmohan Singh today asked cash-rich 25 central PSUs to invest their surplus fund of Rs2.5 lakh crore to reignite economic growth.
In a meeting convened by the Prime Minister and also attended by finance minister P Chidambaram, the to...
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General |
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RBI allows FIIs to hedge currency risk at any authorised dealer bank news
Posted Date : 24-Oct-2012 , 08:31:21 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has eased norms for hedging currency risk for foreign institutional investors (FIIs) by allowing them to approach any authorised dealer bank to hedge currency risk on their stock market investments.
Foreign institutional investors (FIIs) can approach any auth...
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RBI |
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Ten EU nations get go-ahead on financial transactions tax
Posted Date : 24-Oct-2012 , 08:25:27 am | Posted By CASANSAAR
The European Commission on Tuesday agreed a formal first step enabling 10 EU nations to launch a hotly contested Financial Transactions Taxslated to raise billions for the public purse. After plans to launch the tax across the European Union were scuttled duri...
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Income Tax |
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0 | Hits : 619
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Service Tax NEW ST-3 for April to June 2012 made Available
Posted Date : 23-Oct-2012 , 06:18:33 am | Posted By CASANSAAR
The Revenue Department today said the modified service tax return Form for the quarter April-June is now available on the ACES website. "Modified version of the Service Tax Return (ST3) for the quarter April-June, 2012 is now available for uploading to ACES... It is ava...
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Service Tax |
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0 | Hits : 2386
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Sebi seeks special courts for speedy trials in market frauds
Posted Date : 23-Oct-2012 , 06:17:21 am | Posted By CASANSAAR
Worried over delays in prosecution of those found to be involved in frauds and other offences, market watchdog Sebi has asked the government to set up special courts to fast-track the process of bringing the guilty to book. Expressing concern over some cases continuing for years, Sebi...
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SEBI |
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0 | Hits : 671
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Undisclosed income of Rs 10 cr detected by I-T
Posted Date : 23-Oct-2012 , 06:12:40 am | Posted By CASANSAAR
An undisclosed income of Rs 10 crore has been detected by the Income Tax department during survey operation conducted on real estate groups here.
I-T sleuths had carried out survey on the premises of some real estate companies on Friday, said Jaspal Singh, Chief Commissioner of Income Tax, ...
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Income Tax |
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0 | Hits : 858
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eBay accused of tax evasion in UK
Posted Date : 23-Oct-2012 , 06:11:30 am | Posted By CASANSAAR
Online auction giant eBay paid only £1.2 million ($1.92 million, 1.47 million euros) in tax to the British government despite generating £800 million in sales in the country, the Sunday Times reported.
The auction site denied any wrongdoing.
Ac...
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Income Tax |
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0 | Hits : 682
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RBI may treat part of SLR as liquidity under Basel III
Posted Date : 23-Oct-2012 , 06:09:45 am | Posted By CASANSAAR
RBI Deputy Governor Anand Sinha on Monday said the central bank is looking at a move under which a part of banks' statutory liquidity ratio (SLR) holdings can be treated in a way that it complies with liquidity norms under the Basel III capital requirements. Sinha said this at an event organised in ...
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RBI |
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0 | Hits : 734
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Finance Minister Shri P. Chidambaram calls for Improving Growth and Penetration of Non Life Insurance Sector
Posted Date : 23-Oct-2012 , 06:08:59 am | Posted By CASANSAAR
The Union Finance Minister Shri P. Chidambaram said that the major challenges before the Non Life Insurance sector is how to increase its reach to the maximum number of people along with growth of investment in this sector. He asked the participating CEOs of both Public Sector and Private Sector Non...
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Finance |
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0 | Hits : 709
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Sebi aims to complete probes in one year
Posted Date : 22-Oct-2012 , 07:44:50 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) has set a one-year target to complete investigations, saying that the long-drawn probe processes are a thing of past and manipulators can’t escape the long arm of the law.
The impression about market manipulators remaining scot-free or the enf...
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SEBI |
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0 | Hits : 742
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Income Tax refunds decline 23.33%
Posted Date : 22-Oct-2012 , 07:39:01 am | Posted By CASANSAAR
The Income Tax refunds during the first half of current financial year have come down to Rs 46,000 crore from Rs 60,000 crore in the same period last year.
"The IT refund in April-September period of this fiscal stood at Rs 46,000 crore," a finance ministry official said.
The gover...
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Income Tax |
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0 | Hits : 788
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