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...
Continue Reading...
Category :
International Business |
Comments :
0 | Hits : 832
|
 |
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...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 746
|
|
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...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 755
|
|
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...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 982
|
|
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...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 691
|
|
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...
Continue Reading...
Category :
General |
Comments :
1 | Hits : 838
|
|
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...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 642
|
|
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...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 802
|
|
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...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 704
|
|
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...
Continue Reading...
Category :
Students Zone |
Comments :
2 | Hits : 3141
|
|
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...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 746
|
|
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 ...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 665
|
|
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...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 733
|
|
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...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 762
|
|
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...
Continue Reading...
Category :
General |
Comments :
2 | Hits : 808
|
|
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...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 1058
|
|
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...
Continue Reading...
Category :
Excise |
Comments :
0 | Hits : 939
|
|
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...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 704
|
|
Infosys may replace TCS in new phase of MCA-21 project
Posted Date : 18-Sep-2012 , 08:01:57 am | Posted By CASANSAAR
Within months of bagging a landmark contract from India Post, Infosys is positioning itself as a serious player in India's e-governance arena by beating bigger rival Tata Consultancy Services to win the next phase of a flagship project by corporate affairs ministry.The seco...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 957
|
|
Bringing Indian Railways into service tax net will help organisation's finances
Posted Date : 18-Sep-2012 , 07:59:36 am | Posted By CASANSAAR
Indian Railways (IR) is supposed to charge service tax on rail users from next month.However, railway minister and Trinamool Congressleader Mukul Roy is said to be resisting the plan. He should not. The IR is a very large service provider and the case for bringing it under the ta...
Continue Reading...
Category :
Service Tax |
Comments :
0 | Hits : 811
|
|
Vodafone considers $2.2 bn tax provision on Indian law
Posted Date : 18-Sep-2012 , 07:57:48 am | Posted By CASANSAAR
Vodafone Group Plc, which has resisted setting aside money for a USD 2.2 billion tax bill in India, may make a provision to cover the legal risks, Chief Financial Officer Andy Halford said in an interview. The world's second-largest mobile-phone operator is consulting on the need for a pr...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 732
|
|
Cost Inflation Index for Financial Year 2012-13
Posted Date : 17-Sep-2012 , 08:29:08 pm | Posted By CASANSAAR
Notified Cost Inflation Index for Financial Year 2012-13 / Assessment Year 2013-14 : 852...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1103
|
|
FDI in multi-brand retail may attract investments of up to $3 bn in 2 years: Consultants
Posted Date : 17-Sep-2012 , 08:06:57 pm | Posted By CASANSAAR
Allowing 51 per cent FDI in multi-brand retail can attract investments of up to USD 3 billion in India in the next two years, according to consultants. Stating that the government's decision to go ahead with FDI in multi-brand retail sends positive signal to foreign ret...
Continue Reading...
Category :
International Business |
Comments :
0 | Hits : 855
|
|
RBI monetary policy: CRR cut by 25 bps, repo rate unchanged
Posted Date : 17-Sep-2012 , 02:27:36 pm | Posted By CASANSAAR
In a move cheered by both economists and industrialists, the Reserve Bank of IndiaBSE 4.06 % (RBI) on Monday cut the cash reserve ratio (CRR) by 25 basis points to 4.50 per cent in its monetary policy review. The decision will infuse Rs 17,000 crore into the banking system. The liquidity infusion, R...
Continue Reading...
Category :
Banking |
Comments :
1 | Hits : 853
|
|
ICAI Elections : Permission to Vote by Post for those who are away from their Addresses
Posted Date : 17-Sep-2012 , 07:34:17 am | Posted By CASANSAAR
If you are away from your professional address and want to vote for then please fill the attached form and send it to returning officer till 5th October 2012.
As per election rules, A member who is entitled to vote at a polling booth may be permitted at the discretion of...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1388
|
|
No royalty tax on income from sale of in-built software
Posted Date : 17-Sep-2012 , 07:28:05 am | Posted By CASANSAAR
The Delhi High Court has ruled that income from sale of software embedded in hardware was not taxable as royalty despite the retrospective amendment to the Income Tax Act, as the changes cannot override a tax treaty. Deciding on a case between the Income Tax Department and Nokia Networks of Finland,...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 724
|
|
Punjab to start internal audit of govt spending
Posted Date : 17-Sep-2012 , 07:26:33 am | Posted By CASANSAAR
The Punjab government has decided to conduct internal performance audit of expenditure made by various departments, boards and corporations, local bodies, panchayats and other agencies availing of government money in a effort to ensure optimum utilisation of government money and bringing accoun...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 916
|
|
I-T probing foreign banks, brokers in illegal investments case
Posted Date : 17-Sep-2012 , 07:21:22 am | Posted By CASANSAAR
The Income Tax department is probing a few foreign banks and financial brokers after it was tipped off about large scale illegal high returns investment programme being executed in violation of RBI guidelines.
The investments and returns scheme, called the Private Placement Programmes (PPP)...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 633
|
|
CBDT scrutinising firms enjoying tax exemptions
Posted Date : 17-Sep-2012 , 07:20:04 am | Posted By CASANSAAR
Companies availing tax exemptions are being scanned by the income tax department. The Central Board of Direct Taxes has started a closer scrutiny of companies paying less corporate tax due to various exemptions. The finance ministry says it has found some of these companies are evading taxes by shif...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 822
|
|
Banks need to improve systems to protect asset quality: RBI
Posted Date : 16-Sep-2012 , 08:49:24 am | Posted By CASANSAAR
Indian banks need to improve their systems and processes to identify early any stress on the quality of their loans, the Reserve Bank of India (RBI) said.
"Asset quality of banks is one of the most important indicators of their financial health. However, it has been observed that existing MIS on th...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 775
|
|
|
