Kotak Mahindra Bank to collect VAT in 4 States
Posted Date : 04-Oct-2012 , 07:43:46 am | Posted By CASANSAAR
Kotak Mahindra Bank has got the mandate to collect VAT (value-added tax) in four States, according to an executive.
Addressing presspersons here on Wednesday, Puneet Kapoor, Executive Vice-President, Consumer Banking, Kotak Mahindra Bank, said that in a recent development the Government has...
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VAT |
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Online view of your Income Tax Arrear Demand
Posted Date : 03-Oct-2012 , 11:10:56 pm | Posted By CASANSAAR
As a Taxpayer friendly initiative, a facility to view details of Arrear Demand of taxpayers as communicated by their Jurisdictional Assessing Officers (A.O.) to the Central Processing Centre (CPC) is now enabled on the e-filing website i.e.
https://incometaxindiaefiling.gov.i...
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Income Tax |
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MCA urges to expedite filing of Balance Sheet & Annual Return
Posted Date : 03-Oct-2012 , 11:05:53 pm | Posted By CASANSAAR
GOVERNMENT OF INDIAMINISTRY OF CORPORATE AFFAIRS
DEAR CORPORATES,
The Ministry issued General Circular No.30/2012 Dated 28.09.2012, In order to ensure smooth filing and to avoid last minute rush, the due date of filing of e-forms 23AC(Non-XBRL) and 23ACA (Non XBRL...
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Corporate Law |
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Government likely to consider FCRA bill
Posted Date : 03-Oct-2012 , 10:59:04 pm | Posted By CASANSAAR
The government is likely to take a decision tomorrow on a bill that seeks to provide more powers to commodity market regulator Forward Markets Commission (FMC) and introduction of products like options."The Cabinet is likely to take up the Forward Contract Regulation Act (Am...
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General |
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Let RBI appoint auditors of private banks, says ICAI
Posted Date : 03-Oct-2012 , 08:18:27 am | Posted By CASANSAAR
Accounting regulator has urged the government to let the Reserve Bank of India appoint auditors of private banks, citing the inherent conflict of interest when auditors are chosen by the bank management. The Institute of Chartered Accountants of India (ICAI) has in a letter to th...
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ICAI |
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Mandatory safety mechanism for IPOs is a bad idea; Sebi must junk it
Posted Date : 03-Oct-2012 , 08:16:36 am | Posted By CASANSAAR
The Securities and Exchange Board of India's (Sebi) proposal for a mandatory safety net mechanism forinitial public offerings (IPOs) is a classic example of the remedy being worse than the disease. Nothing could be more misguided. It is a fact that the IPO market has been in the doldrums for th...
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SEBI |
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Punjab National Bank, Union Bank, Oriental Bank of Commerce revise deposit rates on FCNR accounts
Posted Date : 03-Oct-2012 , 08:12:11 am | Posted By CASANSAAR
Public sector lenders, Punjab National Bank(PNB), Union Bank of India (UBI) and Oriental Bank of Commerce (OBC) revised their deposit rates on FCNRaccounts (foreign currency non-deposit accounts) with maturity of one-five years from today.
As per the revised ra...
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Banking |
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Taxmen may reduce TDS-related paperwork for assessees
Posted Date : 03-Oct-2012 , 08:10:00 am | Posted By CASANSAAR
If your income is not taxable and you are getting interest income, then you may get some relief from the paperwork for non-deduction of tax at source.
According to a highly-placed government source, “CBDT is to examine the possibility of getting Form 15G/15H once in a life time from v...
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Income Tax |
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Investors to get no-frills demat accounts from today
Posted Date : 02-Oct-2012 , 08:54:23 am | Posted By CASANSAAR
Small individual investors will be able to get no-frills demat accounts for trading in stocks, mutual funds and other securities from Monday without any annual maintenance charges for holdings up to Rs 50,000.Also, the charges would be capped at a maximum of Rs 100 a year if the value of their portf...
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Income Tax |
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Finance Minister P Chidambaram asks IT department to lower taxes on insurance policies
Posted Date : 02-Oct-2012 , 08:53:56 am | Posted By CASANSAAR
In what could turn out to be a 'game-changer' for the life insurance industry, Finance Minister P Chidambaram on Monday urged the income-tax department to lower tax rates on life insurance policies and the insurance regulator to speed up approval for products.Life insurers will now be able...
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Income Tax |
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0 | Hits : 708
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Centre
Posted Date : 02-Oct-2012 , 08:47:18 am | Posted By CASANSAAR
The Centre said that the guidelines for implementation of General Anti Avoidance Rules (GAAR) will be finalised by the Income Tax department by the end of this month. Talking to reporters in New Delhi today the Finance Minister P Chidambaram said GAAR rules will be first vetted by the Law Ministry. ...
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Income Tax |
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0 | Hits : 659
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CAG not 'munimji', it's a constitutional authority: SC
Posted Date : 01-Oct-2012 , 08:11:37 pm | Posted By CASANSAAR
Observing that the "CAG is not a munim (accountant)" the Supreme Court on Monday dismissed a plea challenging the Comptroller and Auditor General's power to conduct performance audit of controversial allocation of coal blocks by the UPA government. A bench of justices R M Lodha and A R dave said the...
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Income Tax |
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0 | Hits : 789
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Rs 3,561 cr integrated development plan approved for Ludhiana
Posted Date : 01-Oct-2012 , 08:33:52 am | Posted By CASANSAAR
The Punjab government on Sunday approved “Mission Ludhiana” — a Rs 3,651-crore integrated development plan for the industrial city and its adjoining areas.
In a meeting here on Saturday, Deputy Chief Minister Sukhbir Singh Badal also tied up the financial resources for the...
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General |
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Levy of Service Tax on Railway Passengers Travelling in AC Classes/First Class from tomorrow i.e. 1st October 2012
Posted Date : 30-Sep-2012 , 08:17:40 pm | Posted By CASANSAAR
Levy of Service Tax on Railway Passengers Travelling in AC Classes/First Class from tomorrow i.e. 1st October 2012 No Service Tax to be Levied on Tickets Issued Prior to 1st October 2012 In Case of Cancellation of Tickets Issued on or after 1st October 2012, the Applicable Amount Inc...
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Category :
Service Tax |
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0 | Hits : 922
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e-Filing Helpline Numbers.
Posted Date : 29-Sep-2012 , 09:47:14 pm | Posted By CASANSAAR
For any query relating to e-filing of Income Tax Return, please call 18001801961 or 08026500025.
For any query regarding status of e-filed return and ITR-V please call 18004252229....
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Income Tax |
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0 | Hits : 964
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'eBay International
Posted Date : 29-Sep-2012 , 06:29:12 pm | Posted By CASANSAAR
eBay International AG, a Swiss tax resident, need not fork out any income-tax on the profits earned from its two India-specific Web sites.
This ruling of the Mumbai Income Tax Appellate Tribunal is a significant one in the context of e-commerce transactions, say tax experts.
The Tr...
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Category :
Income Tax |
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0 | Hits : 800
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Opening of special return receipt counters on 29th and 30th September, 2012.
Posted Date : 29-Sep-2012 , 06:16:01 pm | Posted By CASANSAAR
CBDT has decided that the Income-tax Offices all over India shall make special arrangements by opening receipt counters on 29th and 30th September, 2012 for the convenience of taxpayers.
Click here for CBDT Order...
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Income Tax |
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Justice Altamas Kabir to be sworn in as Chief Justice of India today
Posted Date : 29-Sep-2012 , 11:14:02 am | Posted By CASANSAAR
Justice Altamas Kabir, the senior-most judge of the Supreme Court will be sworn in as the next Chief Justice of India today. Justice Kabir, 64, who will succeed Justice Sarosh Homi Kapadia, will serve a tenure of nine months till July next year.
The new appointee has delivered several...
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General |
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Due date of filing of e-forms 23AC (Non-XBRL) or 23ACA (Non-XBRL) as per new schedule VI is now further extended
Posted Date : 29-Sep-2012 , 11:05:15 am | Posted By CASANSAAR
General Circular No.30/2012, Dated: – 28th September, 2012
The Ministry has issued general circulars No. 21/2012 dated 28/09/12 and No. 28/2012 dated 03/09/12 extending time for filing e-form 23AC (Non-XBRL) and 23ACA (Non-XBRL) up to 15/10/12 or within 30 days from the date o...
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Corporate Law |
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Kelkar panel suggests comprehensive review of 'Direct Taxes Code' Bill
Posted Date : 29-Sep-2012 , 09:00:48 am | Posted By CASANSAAR
The government appointed panel to suggest a roadmap for fiscal consolidation has recommended a comprehensive review of the Direct Taxes Code Bill and bringing in more services in the tax net.The Kelkar Committee also recommended amendment to the law to make quoting PAN or the UID...
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Income Tax |
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0 | Hits : 879
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Plea to extend date for I-T return filing
Posted Date : 29-Sep-2012 , 08:54:52 am | Posted By CASANSAAR
All India Federation of Tax Petitioners (AIFTP) has urged the Central Board of Direct Taxes for extension of income tax return filing date this year. It pointed out that the due date on September 30 is a Sunday.
AIFTP said CBDT should issue a clarification as it did in 1992. The half-yearl...
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Income Tax |
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No service tax on railway tickets booked before Oct 1
Posted Date : 29-Sep-2012 , 08:52:25 am | Posted By CASANSAAR
Passengers who have booked AC train tickets before October 1 will not have to pay service tax imposed by the finance ministry, the railways clarified on Friday.
Also, in case of cancellation of tickets booked on or after October 1, the refundable amount will include service tax.
After a public out...
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Category :
Service Tax |
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0 | Hits : 840
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ICAI Invites Applications from Highly Competent Candidates for the Positions of SECRETARY, TECHNICAL DIRECTOR and DIRECTOR (TAXATION)
Posted Date : 28-Sep-2012 , 03:44:32 pm | Posted By CASANSAAR
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA(Premier professional body set up by an Act of Parliament)ICAI Bhavan, Indraprastha Marg, Post Box No. 7100, New Delhi 110 002. ICAI invites applications from highly competent candidates for the positions of
SECRETARY,TECHNICAL DIRECTORand&n...
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Income Tax |
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0 | Hits : 1047
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Sahara agrees to refund Rs 24,000 crore to investors in 3 months
Posted Date : 28-Sep-2012 , 03:34:10 pm | Posted By CASANSAAR
Sahara Group on Friday assured the Supreme Court that its two companies which had raised Rs 24,000 crore through Optionally Fully Convertible Debentures (OFCDs) from their investors will refund the amount within three months.
“We will refund the amount. There is no question of going b...
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General |
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Finance Minister P Chidambaram to review Income Tax department's appeal-filing mechanism soon
Posted Date : 28-Sep-2012 , 08:18:57 am | Posted By CASANSAAR
Finance Minister P Chidambaram is likely to review the entire appeal-filing mechanism of the Income Tax department in view of concerns expressed by the Supreme Court recently over delays in revenue cases. The Minister may review the mechanism in the middle of next ...
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Income Tax |
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0 | Hits : 719
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RBI extends interest rate ceiling on export credit to six months
Posted Date : 28-Sep-2012 , 08:14:49 am | Posted By CASANSAAR
The Reserve Bank today extended the interest rate ceiling on export credit with overseas banks to six months. "It has been decided that the interest rate ceiling on lines of credit with overseas banks will continue to be six months Libor/Euro Libor/Euribor plus 250...
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RBI |
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Same name, Birthday get 2 Men same PAN number
Posted Date : 28-Sep-2012 , 08:11:39 am | Posted By CASANSAAR
PAN numbers are supposed to be like fingerprints. No two people can have the same one.
Well, the Income Tax department seems have made an exception.
The I-T department issued the same Permanent Account Number (PAN) to two different persons with the same name. The aggr...
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Income Tax |
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0 | Hits : 1299
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Service tax refund may pose a problem to rail passengers
Posted Date : 28-Sep-2012 , 08:08:32 am | Posted By CASANSAAR
The notification, levying service tax on high-end railway passenger fares, cargo and auxiliary services from October 1 just might leave passengers in the lurch in case they prefer to cancel their tickets as it would not be the job of the railways to refund the levied tax.
The service tax on...
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Category :
Service Tax |
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0 | Hits : 953
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Income Tax department defends retrospective tax in McLeod case
Posted Date : 28-Sep-2012 , 08:07:32 am | Posted By CASANSAAR
The Income Tax department has sought the dismissal of a plea filed by tea producer McLeod Russelagainst state's powers to tax transactions retrospectively.The department maintains that the state has powers to tax with retrospective effect and the amendments introduced in the Finance B...
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Income Tax |
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0 | Hits : 677
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Sandeep Patil replaces K Srikkanth as chief BCCI selector, Mohinder Amarnath dropped
Posted Date : 27-Sep-2012 , 04:37:43 pm | Posted By CASANSAAR
Former Indian cricketer Sandeep Patil was on Thursday appointed the Chairman of the national selection committee, whileMohinder Amarnath was sacked after serving just one year in the panel.
The 56-year-old Patil's appointment to the hot seat, replacing Kris Srikkanth, came as a ...
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General |
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