Net direct tax collections rise 7-fold in April
Posted Date : 17-May-2012 , 08:14:44 am | Posted By CASANSAAR
The net direct tax collections rose to a whopping Rs14,812 crore in April this year, a seven fold increase compared to the same period of last fiscal.
Net direct tax collections, gross collections minus refunds, was at Rs1,992 crore in April 2011.
The net collection was higher mainly due t...
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Income Tax |
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RBI announces SAARC swap arrangement
Posted Date : 17-May-2012 , 08:04:04 am | Posted By CASANSAAR
The Reserve Bank of India announced that India will offer Swap Arrangement of two billion dollars both in foreign currency and Indian currency. Speaking at the 24th SAARC, Finance Governors meeting in Pokhara on Wednesday, the Governor of RBI, Dr. D. Subbarao made this announcement and said the arra...
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RBI |
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CA student Commit Suicide on failure in Exam
Posted Date : 16-May-2012 , 12:38:50 pm | Posted By CASANSAAR
A girl student allegedly committed suicide by hanging herself with a ceiling fan after she remained unsuccessful in Chartered Accountant (CA) exams in Kathua district of Jammu and Kashmir.
“The girl, identified as Priya Padwal, resident of Ward number 1,...
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Students Zone |
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300 students fail Chartered Accountant final exam, but pass after retotalling
Posted Date : 16-May-2012 , 08:47:12 am | Posted By CASANSAAR
Students and lecturers have complained that there were many errors in totalling and that past questions were repeated in the final exams conducted by the Institute of Chartered Accountants of India last November. Around 300 final-year students from all over the country cleared eithe...
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Income Tax |
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Bank account nominee not legal heir: Gujarat high court
Posted Date : 16-May-2012 , 08:38:18 am | Posted By CASANSAAR
In an important verdict, the Gujarat high court has ruled that the nominee to a bank account does not have the rights of a legal heir of the original account holder. Hence, he cannot claim money or deposits lying with the bank on the death of the original account holder.
A bench of justice Akil Kur...
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General |
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PAN must for gold buys exceeding Rs 2 lakh
Posted Date : 16-May-2012 , 08:36:35 am | Posted By CASANSAAR
Customers will no longer be able to buy gold bars or coins worth more than Rs 2 lakh – even by paying cash – without furnishing an Income-Tax Permanent Account Number (PAN).
That is because it is now mandatory on the part of the seller to collect tax at source on such sales. The buyer's...
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Income Tax |
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Change in CA Final Exam Venue at Patna
Posted Date : 16-May-2012 , 08:29:11 am | Posted By CASANSAAR
Important Announcement
No.13-CA(Exams)/May, 2012/CoC-Patna May 15, 2012
In view of setting up of polling booth(s) in T.P.S. College, Chirraiya Tand, Patna – 800 001 for election to the Patna Municipal Corporation on 17th May, 2012, the Chartered Accountants Final Examination&n...
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Students Zone |
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Bharti Airtel under Enforcement Directorate scanner for money laundering
Posted Date : 15-May-2012 , 07:04:26 pm | Posted By CASANSAAR
Authorities are investigating top mobile phone carrier Bharti Airtel under provisions of the country's money launderingand foreign exchange rules, a minister said, sending its shares down as much as 5.1 per cent.The Directorate of Enforcement is investigating cases against Bharti...
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General |
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DTC Bill in Monsoon Session of Parl: Pranab
Posted Date : 15-May-2012 , 07:01:01 pm | Posted By CASANSAAR
Finance Minister Pranab Mukherjee today said Direct Tax Code, DTC Bill will be introduced in the Monsoon session of Parliament. He stated this while introducing the Appropriation No-3 Bill 2012 along with the Finance Bill 2012 in the Rajya Sabha. The Finance Minister announced the roll back of the e...
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Income Tax |
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Increase in Number of Tax Payers
Posted Date : 15-May-2012 , 06:58:44 pm | Posted By CASANSAAR
The number of effective income tax assesses as well as the number of registered Central Excise and Service Tax assesses during the years 2006-07 to 2010-11 are as under:
Financial Year
Income Tax Assesses
Central Excise
Service Tax
2006-07
31903137
...
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Income Tax |
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0 | Hits : 313
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Amendments Proposed in Provisions Relating to GAAR
Posted Date : 15-May-2012 , 06:57:17 pm | Posted By CASANSAAR
The following government amendments have been proposed in the provisions relating to General Anti-Avoidance Rules (GAAR) contained in the Finance Bill 2012.i) To remove the onus of proof from the tax-payers to the Revenue Department before any action can be initiated under GAAR. ii) To introduc...
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Income Tax |
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A Raja gets bail in 2G spectrum case
Posted Date : 15-May-2012 , 03:41:46 pm | Posted By CASANSAAR
Over 15 months after his arrest, former telecom minister A Raja was on Tuesday granted bail by a Delhi court in the 2G spectrum case.
"The bail application is allowed," Special CBI Judge O P Saini said.
The court granted bail to the DMK MP on a personal bond of Rs 20 lakh a...
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General |
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0 | Hits : 263
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Enough CAs under ICAI to Meet Global Requirements
Posted Date : 15-May-2012 , 08:51:35 am | Posted By CASANSAAR
There is no shortage of Chartered Accountants in the country to meet the Global challenges. As on 1st May, 2012, 1,93,500 Chartered Accountants (CAs) were registered with the Institute of Chartered Accountants of India (ICAI). The ICAI, a statutory body established by an Act of Parliament ...
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ICAI |
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0 | Hits : 2245
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Company Secretary clarifies on his e-mail for 2 firms
Posted Date : 15-May-2012 , 08:49:34 am | Posted By CASANSAAR
A Company Secretary here has clarified that he had filed returns of two companies, over which questions were raised in Parliament, to the Registrar of Companies under his e-mail id for his administrative convenience.
“I am a qualified practising Company Secretary. As a practising Company Se...
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Corporate Law |
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0 | Hits : 768
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Integration of LLP System into MCA-21
Posted Date : 15-May-2012 , 08:47:12 am | Posted By CASANSAAR
Draft of notice to be displayed on LLP website
Ministry of Corporate Affairs
NOTICE
1. The Ministry is in process of integration of LLP system into MCA-21 in the month of june 2012 by allowing filing & approval of LLP forms at MCA-21 website (www.mca.gov.in) for be...
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Corporate Law |
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23 tax tribunal members under CBI scanner for ‘fixing’ verdicts
Posted Date : 15-May-2012 , 08:44:16 am | Posted By CASANSAAR
An estimated 69 orders passed by as many as 23 members of various benches of the Income Tax Appellate Tribunal (ITAT) are now the subject matter of an unprecedented nationwide inquiry for alleged corruption by the Central Bureau of Investigation (CBI).
The ITAT, a quasi-judicial body, is the high...
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Income Tax |
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0 | Hits : 317
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Download ITR-1, ITR-2, ITR-3 & ITR-4 Return Preparation Software
Posted Date : 14-May-2012 , 09:51:08 pm | Posted By CASANSAAR
The online submission of ITR-1 (SAHAJ) & ITR-4S (SUGAM) for AY 2012-13 has been enabled.
Download Return Preparation Software
Sl. No.
Form Name
Return Preparation Software
Remarks
System Requirements
1
ITR-1(SAHAJ)
Excel Utility(Version 1.0)
New Releas...
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Income Tax |
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Khullar appointed new Trai chairman
Posted Date : 14-May-2012 , 04:05:13 pm | Posted By CASANSAAR
Commerce Secretary Rahul Khullar has been appointed as the new chairman of the Telecom Regulatory Authority of India (Trai) for a three-year term. Khullar, a 1975 batch IAS officer of Delhi cadre, will succeed J S Sarma, whose tenure ended today. The tenure of Khullar, who w...
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General |
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ISA AT - June, 2012 Application Form
Posted Date : 14-May-2012 , 02:19:11 pm | Posted By CASANSAAR
ISA AT - June, 2012 Application Form
Last Date : 1st June 2012.
Cost of Application form : Rs. 100.
Click here to Download the AT Form
...
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ICAI |
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0 | Hits : 537
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Money-laundering law: Rigorous jail, hefty fines await tax offenders
Posted Date : 14-May-2012 , 07:38:23 am | Posted By CASANSAAR
Tax evaders could be in for trouble as the government is mulling placing tax crimes on a par with money laundering offences that have severe criminal and financial implications.India could bring income-tax offences under its anti-money laundering law, making way for easier prosecution, rigorous ...
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Income Tax |
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Over 15,000 trained company secretaries will be needed in future: ICSI
Posted Date : 14-May-2012 , 07:34:52 am | Posted By CASANSAAR
Institute of Company Secretaries of India (ICSI) believes that in the next five years, more than 15,000 trained CS will be required in the country.
"The Parliamentary Standing Committee on Finance is likely to table its report on the proposed amendments to the Companies Bill sometime n...
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ICSI |
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FinMin examining CBDT committee report on Black Money
Posted Date : 13-May-2012 , 01:04:07 pm | Posted By CASANSAAR
Nearly ten months after it was formed to examine ways to check the menace of black money, a committee under the chairmanship of Central Board of Direct Taxes (CBDT) chief has submitted its report to the Finance Ministry.The Ministry, however, declined to share its details saying "action taken"...
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Income Tax |
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0 | Hits : 274
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ICSI seeks early passage of Companies Bill
Posted Date : 12-May-2012 , 08:07:44 pm | Posted By CASANSAAR
The Institute of Company Secretaries of India (ICSI) has sought early passage of the new Companies Bill.
ICSI President Nesar Ahmad has said he has requested Yashwant Sinha, Chairman of Parliamentary Standing Committee on Finance, to work towards approval of the Bill in the ongoing Budget...
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ICSI |
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China moves to local control of foreign auditors
Posted Date : 12-May-2012 , 08:20:55 am | Posted By CASANSAAR
Foreign auditing firms will have to appoint a Chinese national as their chief partner in China as part of a sweeping overhaul of the country's accounting industry.
The regulations, unveiled on Thursday, are aimed at localising the mainland operations of foreign auditing firms, but they also...
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Auditing |
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Service tax on rly freight from July 1
Posted Date : 12-May-2012 , 08:17:04 am | Posted By CASANSAAR
Using the Railways to transport goods would become more expensive from July 1, with the government bringing the sector under the service tax net. The move, while being inflationary, would further reduce competitive edge of the national transporter against the road sector.
Accordi...
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Category :
Service Tax |
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0 | Hits : 451
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Facebook: 10 little-known facts
Posted Date : 11-May-2012 , 04:37:23 pm | Posted By CASANSAAR
Facebook: 10 little-known facts
Facebook Inc is all set to hit US stock markets. The world's largest social networking website is seeking as much as $96 billion in its initial public offering.
According to data compiled by Bloomberg, Facebook, co-founded by Mark Zuckerberg in 2004 in a Harv...
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General |
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0 | Hits : 666
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Import of patented goods without IPR authorisation allowed
Posted Date : 11-May-2012 , 07:34:52 am | Posted By CASANSAAR
Imports of goods protected by patent or trademarks are permitted even without authorisation of the Intellectual Property Rights (IPR) holder, according to the Finance Ministry.The clarification was given in the backdrop the dispute between global personal computer maker Dell and traders who were sou...
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Custom |
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Educational institutions set to follow ICAI norms
Posted Date : 11-May-2012 , 07:30:48 am | Posted By CASANSAAR
Higher education institutes in the country will soon have to report their financial information in a standard and uniform format set by the Institute of Chartered Accountants of India.
As per the format, the institutes will now have to disclose their balance sheet and the income an...
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ICAI |
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0 | Hits : 697
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18 bluechip PSUs lacks required number of independent directors: CAG
Posted Date : 11-May-2012 , 07:26:18 am | Posted By CASANSAAR
Eighteen state-run firms, including bluechips like ONGC, IOC, OIL and GAIL, did not have the required number of independent directors on their board in 2010-11 fiscal, a CAG report said. Of the 466 Central Public Sector Enterprises (CPSEs) audited by the CAG during 2010-11, 18 companies did not...
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Corporate Law |
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0 | Hits : 343
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RBI asks exporters to sell 50 pc of forex earnings
Posted Date : 10-May-2012 , 10:21:09 pm | Posted By CASANSAAR
In order to arrest the declining value of the rupee, the Reserve Bank today asked exporters to sell 50 per cent of their retained foreign exchange earning.
The central bank has also fixed limit for intra-day trading of foreign currency by banks.
"On a review of the scheme, it has...
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RBI |
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