Cabinet clears 7% hike in DA for Central Govt employees
Posted Date : 24-Sep-2012 , 08:57:16 pm | Posted By CASANSAAR
The Union Cabinet today approved a 7 per cent hike in the Dearness Allowance, DA, for central government employees. In its meeting chaired by Prime Minister Dr Manmohan Singh in New Delhi, the cabinet give its nod to hike in DA. The approval will benefit 80 lakh central government employees and pens...
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General |
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Continuation of MCA21 Project - e-Governance, Computerization and Networking of Ministry of Corporate Affairs and its Field Offices (MCA21 v2)
Posted Date : 24-Sep-2012 , 08:56:25 pm | Posted By CASANSAAR
The Cabinet Committee on Economic Affairs approved continuation of MCA21 Project for its second cycle from January, 2013 to July, 2021 as a Non-Plan Scheme at a total project outlay of Rs.357.81 crore including an outlay of Rs.54.42 crore for independent project management and certification over eig...
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Corporate Law |
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Get FREE Regular Professional Updates via SMS / email from CASANSAAR
Posted Date : 24-Sep-2012 , 08:44:29 am | Posted By CASANSAAR
Now receive SMS / email alerts on the go from CASANSAAR.COM. This free subscription will entitle you to faster complete updates. Receive Professional, Tax and Career related updates in your mobile / email inbox and stay ahead in your professional life.Some features CASANSAAR SMS / ema...
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General |
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Bank ATMs stop sucking in cash after RBI direction
Posted Date : 24-Sep-2012 , 08:34:54 am | Posted By CASANSAAR
Next time you go to an ATM to withdraw cash, don't worry about the banknotes getting sucked back by the machine if not collected immediately, as RBI has asked all banks to immobilise the 'cash retraction facility'.
At the same time, customers will have to be extra careful in collecting the ...
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RBI |
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Govt tightens scrutiny of companies' fund raising
Posted Date : 24-Sep-2012 , 08:31:26 am | Posted By CASANSAAR
Corporate Affairs Ministry has strengthened its surveillance mechanism over companies raising funds from the public as also on their end-use in the wake of the Supreme Court verdict on the Sahara group. Finding violations of regulatory norms in raising funds from the public, the Supreme Court last m...
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Corporate Law |
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0 | Hits : 737
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Day after reforms push, Prime Minister Manmohan Singh hints at changes in corporate laws
Posted Date : 23-Sep-2012 , 09:06:14 am | Posted By CASANSAAR
A day after he said that the government would take more reforms measures to pull the country out of a 1991-type economic abyss, Prime MinisterManmohan Singh on Saturday said the Centre was examining commercial and corporate laws to ensure inclusive growth and to make them relevant to future cha...
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Corporate Law |
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0 | Hits : 770
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C P Joshi gets additional charge of Railway Ministry
Posted Date : 22-Sep-2012 , 09:28:37 pm | Posted By CASANSAAR
Union Minister for Road, Transport and Highways Dr C P Joshi have been given additional charge of Railway Ministry on Saturday a day after the resignation of Mukul Roy and other Trinamool Congress ministers.
According to Rashtrapati Bhavan spokesperson Venu Rajamony, Dr Joshi was assigned ...
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Income Tax |
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Finance Minister approves the Operational Features of the Rajiv Gandhi Equity Savings Scheme (RGESS)
Posted Date : 22-Sep-2012 , 09:03:00 am | Posted By CASANSAAR
The Union Finance Minister Shri P. Chidambaram approved a new tax saving scheme called “Rajiv Gandhi Equity Saving Scheme“(RGESS),exclusively for the first time retail investors in Securities Market. This Scheme would give tax benefits to new investors who invest up to Rs. 50,000 and who...
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Income Tax |
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0 | Hits : 840
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Sensex sees biggest single-day gain of 2012 on reforms push
Posted Date : 21-Sep-2012 , 03:44:36 pm | Posted By CASANSAAR
The stock markets continued to rally in the afternoon session following the Government's decision to hold firm by notifying all FDI decisions taken last week despite the TMC fallout.
Analysts said that the positive cues from the Government coming in are boosting activity in the markets. Als...
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Shares & Stock |
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0 | Hits : 797
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Govt cuts tax on overseas corporate borrowing
Posted Date : 21-Sep-2012 , 02:39:19 pm | Posted By CASANSAAR
The government slashed a tax on overseas borrowings by local companies on Friday, giving them access to cheaper funds and cheering investors as the government pressed on with reforms to revive economic growth.
Under the new rules, which were proposed in the budget for 2012/13 in March bu...
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International Business |
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Excise and customs duty on domestic LPG cylinders reduced to zero
Posted Date : 21-Sep-2012 , 02:38:24 pm | Posted By CASANSAAR
The Finance Ministry announced reducing the customs and excise duty on non-subsidised domestic LPG cylinders to zero. TheFinance Minister, P Chidambaram on Friday said that more state governments should provide subsidy on LPG cylinders. After announcing a cap of 6 ...
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Excise |
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0 | Hits : 830
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Government to handle selection of auditors for public sector banks
Posted Date : 21-Sep-2012 , 08:21:00 am | Posted By CASANSAAR
The government will now handle the selection of auditors for state-run banks, a finance ministry official said, signalling growing concern over laxity in the audit followed by lenders and possible overstatement of profits.
The finance ministry is expected to issue a directive on the iss...
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Auditing |
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3 | Hits : 2337
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Govt notifies FDI decisions
Posted Date : 21-Sep-2012 , 08:17:51 am | Posted By CASANSAAR
Less than 24 hours before Mamata Banerjee’s Trinamool Congress was due to walk out of the UPA, the government Thursday went ahead and notified its decision to allow FDI in multi-brand retail, among others, reflecting its resolve to stick to its reform announcements despite the threat to its st...
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International Business |
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0 | Hits : 824
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MCA publishes Final Costing Taxonomy for FY 11-12 filings
Posted Date : 21-Sep-2012 , 08:14:19 am | Posted By CASANSAAR
The Ministry of Corporate Affairs (MCA) has published the Final Costing Taxonomy for Financial Year 2011-12 filings on its website http://www.mca.gov.in.
This has been in the wake of the MCA`s mandate for filing of Cost Audit and Compliance reports in XBRL format f...
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Category :
Corporate Law |
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0 | Hits : 738
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Vodafone willing to pay Rs 8,000 crore tax to government if interest, penalty waived
Posted Date : 21-Sep-2012 , 08:12:21 am | Posted By CASANSAAR
UK-based telecom giant Vodafone today said it is willing to discuss tax related issues with the government and paying tax, which amounts to around Rs 8,000 crore, is an option provided the interest and penalty are waived. "It is exactly an option. I don't know if its viable," Vodafone...
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Income Tax |
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Study Group to streamline and render more services by practising Chartered Accountants engaged as lecturers in colleges and institutions
Posted Date : 20-Sep-2012 , 06:49:35 pm | Posted By CASANSAAR
Council Affairs/M-626/2012
19th September, 2012
ALL MEMBERS OF THE COUNCIL
Madam/Dear Sir,
The President, in terms of the authority given to him by the Council at its 314th meeting held from 10th to 12th February, 2012, has constituted a Study Group compri...
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ICAI |
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Anna confirms split, asks Kejriwal not to use his name or photo
Posted Date : 20-Sep-2012 , 02:24:01 pm | Posted By CASANSAAR
Team Anna on Wednesday suffered a vertical split with Anna Hazare and some top activists choosing to part ways with the Arvind Kejriwal-led group, opposing their plans to form a political party. After a roller-coaster ride of 18 months in which they came together to run a high-steam anti-graft movem...
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General |
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0 | Hits : 687
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Accounts of PSU oil companies under scrutiny
Posted Date : 20-Sep-2012 , 09:16:00 am | Posted By CASANSAAR
The finance ministry has ordered a scrutiny of the books of oil marketing companies to see if the under-recoveries stated by them are in order or not. The move was initiated at the behest of finance minister P Chidamabram, who asked his officers to look into the issue even before diesel pr...
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General |
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1 | Hits : 825
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CBDT panel to firm up uniform view on legal issues
Posted Date : 20-Sep-2012 , 09:12:02 am | Posted By CASANSAAR
In what would help assessing officers across the country to take a homogeneous view in legal matters of similar nature, the Central Board of Direct Taxes (CBDT) has formed a standing committee to firm up, what would be called ‘department’s view’, on contentious legal issues.
The m...
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Income Tax |
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0 | Hits : 634
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7% DA hike likely for central govt employees
Posted Date : 19-Sep-2012 , 09:45:52 pm | Posted By CASANSAAR
The central government is likely to hike dearness allowance from 65 per cent to 72 per cent, benefiting about 50 lakh of its employees and 30 lakh pensioners, on Friday.
“The proposal to increase dearness allowance (DA) by 7 per cent of the basic pay is scheduled to come up for consid...
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General |
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Condition to be Imposed for Conversion of Ordinary Society Into Producer Company, Part-Ix A of the Companies Act,1956
Posted Date : 19-Sep-2012 , 09:43:14 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs has decided to impose certain conditions for conversion of ordinary Society into Producer Company, Part-IX A of the Companies Act,1956. In a Circular issued by the Ministry recently it has been stated that on receipt of an application/form seeking conversion of...
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Corporate Law |
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20 years old Ghalib cracks CA exams; eyes post of CAG India
Posted Date : 19-Sep-2012 , 08:52:03 am | Posted By CASANSAAR
Notwithstanding the fact that he was under 21 years of age and hence would not be eligible for the mandatory enrolment at the Institute of Chartered Accountants for permission to practice, he cracked the 2012 CA exams and created a record by becoming one among the only few youngest Chartered Account...
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Students Zone |
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2 | Hits : 3123
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Company Law Bill to be presented in winter session: Moily
Posted Date : 19-Sep-2012 , 08:49:05 am | Posted By CASANSAAR
Good corporate governance is not an option but a must for sustenance of society, said Veerappa Moily, Union Minister of Corporate Affairs (MCA).
Addressing a corporate governance summit organised by the Confederation of Indian Industry (CII), Moily, said that the Bill on Company Law would b...
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Corporate Law |
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0 | Hits : 737
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EC asks CBDT; I-T to monitor funding in polls
Posted Date : 19-Sep-2012 , 08:45:49 am | Posted By CASANSAAR
The Election Commission (EC) has sought deployment of the investigation machinery of the Income Tax department for checking movement of illegal funds during the forthcoming assembly elections in Gujarat and Himachal Pradesh. The Central Board of Direct Taxes (CBDT), which was written to by the ...
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Category :
Income Tax |
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0 | Hits : 656
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Securities transaction tax should be used as incentive
Posted Date : 19-Sep-2012 , 08:43:19 am | Posted By CASANSAAR
Securities and Exchange Board of India (Sebi) chief U K Sinha on Tuesday said that securities transaction tax (STT) should be used in such a way that it incentivizes people to make investments for the long term rather than reap short-term benefits. Sinha, the chairman of Sebi, a...
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SEBI |
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0 | Hits : 716
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Bank Note Press, Dewas Awarded a Prestigious National Safety Award
Posted Date : 19-Sep-2012 , 08:41:30 am | Posted By CASANSAAR
Bank Note Press, Dewas has been awarded a prestigious National Safety Award at a function in Vigyan Bhawan yesterday. This award was presented by the Union Minister of Labour & Employment, Shri Mallikarjun Kharge to Shri B. Burman, General Manager, Bank Note Press, Dewas in the category of indus...
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Banking |
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0 | Hits : 741
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Mamata withdraws support from UPA II, Trinamool ministers to resign on Friday
Posted Date : 18-Sep-2012 , 08:45:02 pm | Posted By CASANSAAR
Trinamool Congress chief and West Bengal chief minister Mamata Banerjee on Tuesday evening announced after 3-hr party meeting in Kolkata that her party decided to withdraw support from UPA government on the issue of diesel price hike, LPG cap and the FDI multi-brand retail decisions by the cent...
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General |
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2 | Hits : 800
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Chandigarh girl booked for 'abusive' Facebook posts on traffic police
Posted Date : 18-Sep-2012 , 02:20:23 pm | Posted By CASANSAAR
A 22-year-old woman, winner of a national bravery award, has been booked for allegedly posting abusive comments on Chandigarh traffic police's Facebook page.
Henna Bakshi, who claims to be winner of Geeta Chopra bravery award over a decade back for nabbing a burglar, was booked on Friday fo...
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General |
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0 | Hits : 1039
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Central Board of Excise & Customs makes e-payment mandatory for importers
Posted Date : 18-Sep-2012 , 08:05:00 am | Posted By CASANSAAR
In order to further reduce transaction cost of theimporters and as a trade facilitation measure, it has been decided to make e-payment mandatory for importers registered under Accredited Clients Programme and importers paying the duty of Rs one lakh or more per Bill of Entry with effe...
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Excise |
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0 | Hits : 927
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SC asks government to check delays in income tax appeal
Posted Date : 18-Sep-2012 , 08:03:15 am | Posted By CASANSAAR
The Supreme Court on Monday faulted government departments for dragging their feet on filing tax appeals running into crores and asked the government to put in place a mechanism to cut down the delays.A two-judge bench of the apex court, headed by CJI S H Kapadia and Justice A K Patnaik, e...
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Income Tax |
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0 | Hits : 695
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