RBI relaxes ECB norms, hikes limit to $3 billion
Posted Date : 12-Sep-2012 , 08:25:33 am | Posted By CASANSAAR
In a bid to increase the foreign fund flow into the country, the Reserve Bank of India today hiked the maximum limit to $3 billion for foreign borrowers under the external commercial borrowing (ECB) norms.
ECB refers to commercial loans in the form of bank loans, buyers' credit, suppliers' credit, ...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 782
|
 |
Goods and service tax one step closer to final approval
Posted Date : 12-Sep-2012 , 08:23:26 am | Posted By CASANSAAR
The Goods and Service Tax (GST) Bill is nearing final approval after the Attorney General of India, Goolam E Vahanvati, answered the constitutional queries raised by former finance minister Yashwant Sinha in his capacity as the Chairman of the Parliamentary Standing Committee on Finance.
The value-...
Continue Reading...
Category :
GST |
Comments :
1 | Hits : 1061
|
|
Income Tax, ED on trail in coal allocations scam
Posted Date : 11-Sep-2012 , 11:12:29 pm | Posted By CASANSAAR
In more trouble for allotees of coal blocks, the Income Tax department and Enforcement Directorate are scanning investments and finances of the firms that are alleged to have illegally benefited in the scam.
Both the agencies under the Finance Ministry have begun a discreet inquiry into the...
Continue Reading...
Category :
Income Tax |
Comments :
1 | Hits : 695
|
|
21 FDI Proposals Amounting to Rs. 2410 Crore Approved
Posted Date : 11-Sep-2012 , 11:07:56 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on August 24, 2012, Government has approved 21 proposals of Foreign Direct Investment amounting to Rs. 2410 crore approximately.
These include 8 proposals worth Rs.1842.55 crore rel...
Continue Reading...
Category :
Finance |
Comments :
0 | Hits : 748
|
|
Indian Institute of Corporate Affairs Conference on Corporate Governance-
Posted Date : 11-Sep-2012 , 11:07:21 pm | Posted By CASANSAAR
There have been several times in the last two decades when the ethical behavior of organisation has been thecenter of attention. This may be due to lack of knowledge on the issues related to compliance. Compliance is all about internal control processes. The board shou...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 681
|
|
Govt plans to bring FDI in multi-brand this month
Posted Date : 11-Sep-2012 , 09:26:23 am | Posted By CASANSAAR
The government is set to allow global super markets, such as Wal-Mart, Tesco and Carrefour, later this month to set up stores, ending the national ban on FDI in multi-brand retail.
A government source said requesting anonymity that the new policy framework - allowing up to 49% foreign direct ...
Continue Reading...
Category :
FEMA |
Comments :
1 | Hits : 873
|
|
MCX offers 50% discount on transaction fee, to start equity trade in Nov
Posted Date : 10-Sep-2012 , 11:48:06 pm | Posted By CASANSAAR
MCX Stock Exchange aims to formally start stocks trading around Diwali in mid-November, chief executive Joseph Massey said on Monday, in its quest to become the country's third major equities market.The MCX Stock Exchange has been quickly taking the necessary steps to commence stock trading since th...
Continue Reading...
Category :
Shares & Stock |
Comments :
0 | Hits : 771
|
|
Direct tax collections up 6.51% in April-Aug
Posted Date : 10-Sep-2012 , 11:30:58 pm | Posted By CASANSAAR
The gross direct tax collection during April-August this fiscal went up by 6.51 per cent to over Rs. 1.64 lakh crore, from Rs. 1.54 lakh crore in the corresponding period last year, a Finance Ministry statement said.Corporate tax collection grew by just 0.15 per cent and stood at...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 653
|
|
ISI mark mandatory on steel products from September 12
Posted Date : 10-Sep-2012 , 11:28:38 pm | Posted By CASANSAAR
Steel makers will now have to produceBureau of Indian Standards (BIS) certified steel items as the Centre has made the certification mandatory from September 12. It was stated by BIS' Northern Region Office in a release here today. According to BIS new guidelines, all manufacturers, f...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 872
|
|
Sebi probes 35 brokers for money laundering
Posted Date : 10-Sep-2012 , 08:58:14 am | Posted By CASANSAAR
As many as 35 stock brokers have been probed by capital market regulator Securities and Exchange Board of India (Sebi) for possible lapses in controls related to money launderingand terror financing, and further action may be taken soon in these cases.
The inspections by ...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 798
|
|
TDS on service tax kept in abeyance
Posted Date : 10-Sep-2012 , 08:56:05 am | Posted By CASANSAAR
A proposal to introduce the TDS (Tax Deducted at Source) mechanism for service tax on the lines of income tax has been put on the back burner. The finance ministry is instead thinking of expanding the list of services on which the tax would be levied under the reverse charge mechanism.
At p...
Continue Reading...
Category :
Service Tax |
Comments :
0 | Hits : 1211
|
|
IT Department exposes Multi-crores Tax Evasion by Jewellers
Posted Date : 09-Sep-2012 , 07:21:46 am | Posted By CASANSAAR
The Income Tax department on late Friday night exposed the tax evasion worth crores of rupees from the five plush Jewellery showrooms in Jammu. Income tax sleuths raised the premises of Chowdhary Shankar Shah Jewellers Jain Bazar, Vijay Shankar Shah Jewellers Jain Bazar, Chowdhary Shankar Shah ...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 893
|
|
CBDT to come out with accounting norms for real estate
Posted Date : 08-Sep-2012 , 09:23:51 am | Posted By CASANSAAR
The Revenue department Thursday said it will soon come out with accounting standards for the real estate sector to bring about uniformity in reporting of financial results.
"We will shortly come forward with accounting standard in this regard (for real estate sector)," Central Board of Direct Taxes...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 973
|
|
RBI advises against gold investment
Posted Date : 08-Sep-2012 , 09:21:22 am | Posted By CASANSAAR
On a day gold prices touched a new high, the Reserve Bank of India (RBI) urged the public against choosing gold as an asset for savings or investment. "Because interest rates are very low, people are investing in gold. But the poor should never invest in gold for whenever they ha...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1158
|
|
Govt sends notices to pharma cos for non-payment of service tax
Posted Date : 08-Sep-2012 , 09:17:53 am | Posted By CASANSAAR
The government said it has served show cause notices to manufacturers of pharmaceutical products who have failed to pay service taxes worth hundreds of crores of rupees.
“Show cause notices have been issued to such manufacturers (of pharmaceutical products) for recovery of service tax...
Continue Reading...
Category :
Service Tax |
Comments :
0 | Hits : 820
|
|
e-Payment of Customs Duty Made Mandatory
Posted Date : 07-Sep-2012 , 09:17:33 pm | Posted By CASANSAAR
In order to further reduce transaction cost of the importers 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 customs duty of one lakh rupees or more per Bill of Entry with effec...
Continue Reading...
Category :
Custom |
Comments :
0 | Hits : 1204
|
|
Each minute of running Parliament in sessions costs Rs 2.5 lakh: Government
Posted Date : 07-Sep-2012 , 09:16:09 pm | Posted By CASANSAAR
Each minute of running Parliament during sessions costs the exchequer Rs 2.5 lakh. This was reminded by the government to the Oppostion as the monsoon session of parliament was almost completely washed out over the controversy on coal block allocations with BJP insistent on Prime Minister Manmo...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 893
|
|
RBI permits investment in Pakistan by Indian corporates
Posted Date : 07-Sep-2012 , 09:13:07 pm | Posted By CASANSAAR
Reserve Bank today permitted Indians to invest in Pakistan, a move which will help enhance bilateral trade and investment. The RBI notification comes on a day when Indian External Affairs Minister S M Krishna is visiting Pakistan aimed at strengthening bilateral relations. "It ha...
Continue Reading...
Category :
International Business |
Comments :
0 | Hits : 766
|
|
'316 cos,73 audit firms guilty of violating accounting norms'
Posted Date : 07-Sep-2012 , 08:31:11 am | Posted By CASANSAAR
The government today said 316 companies and 73 audit firms have been found guilty for violating accounting principles and other financial irregularities in the last three years. "During the last three years, 316 companies and 73 audit firms were found guilty of violation of accounting...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 1998
|
|
CBDT promises tax refund in three months
Posted Date : 07-Sep-2012 , 08:30:24 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) today said it has reduced the time period for tax refunds to three months and would take steps to release arrear payment as fast as possible.
"We have brought down time for refund...Timing of rectification at the Central Processing Centre (CPC) level...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1155
|
|
Sebi relaxes KYC norms for foreign institutional investors
Posted Date : 07-Sep-2012 , 08:25:12 am | Posted By CASANSAAR
Sebi today relaxed the Know Your Clients (KYC) norms for various overseas entities includingforeign institutional investors, and has done away with in- person verification requirements for non-individual clients.
The market regulator has given the clarifications on KYC norms ...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 730
|
|
CBDT asks to rectify incorrect demand uploaded on CPC within 30 days
Posted Date : 07-Sep-2012 , 08:17:59 am | Posted By CASANSAAR
Letter [DIT(S)-III/DMFortnight/2012-13], dated 3-9-2012
The issue of demand management continues to remain an area of grave concern. It has been found that in most of the cases demanduploaded is incorrect and incomplete. Such demands have been uploaded by AOs withoutdue dilig...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 887
|
|
Gold touches record high of Rs 32,300 per ten grams
Posted Date : 06-Sep-2012 , 09:19:01 pm | Posted By CASANSAAR
Gold surged 320 rupees, to cross the 32,000-rupee mark for the first time ever, and hit a fresh record high of 32,300 rupees per ten grams at Delhi's bullion market, today. Gold rose on increased buying by stockists ahead of the marriage season, amid rising gold prices, globally. The precious metal ...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 797
|
|
High Powered Committee (HPC) of ICAI
Posted Date : 06-Sep-2012 , 09:16:25 pm | Posted By CASANSAAR
The Institute of Charted Accounts of India (ICAI) has not constituted any high powered committee to look into the entire gamut of financial reporting etc. Out of the 171 Indian Chartered Accountant (CA) Firms who have reported to the High Powered Committee (HPC) constituted by the Council of th...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 1012
|
|
IT Platform to Integrate Central and State Indirect Taxes Regime
Posted Date : 06-Sep-2012 , 09:15:32 pm | Posted By CASANSAAR
The Government has approved a proposal to set up an IT platform to integrate Central and State indirect tax regime in the context of implementation of Goods and Services Tax (GST) in the context of implementation requires a strong IT Infrastructure and Service backbone to enable capture, processing ...
Continue Reading...
Category :
VAT |
Comments :
0 | Hits : 705
|
|
Multilateral Convention in Tax Matter
Posted Date : 06-Sep-2012 , 09:14:49 pm | Posted By CASANSAAR
India signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (Multilateral Convention) on 26th January, 2012 and ratified it as on 2nd February, 2012. The Multilateral Convention has come in to effect for India on 1st June, 2012. At present 38 countries have signed the...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 606
|
|
Rate of Exchange of Conversion of Foreign Currency into Indian Currency or Vice Versa Relating to Imported and Export Goodsnotified
Posted Date : 06-Sep-2012 , 09:13:58 pm | Posted By CASANSAAR
In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.75/2012-CUSTOMS (N.T.), dated the 16th August, 2012 vide number S.O.1851 (...
Continue Reading...
Category :
Custom |
Comments :
0 | Hits : 822
|
|
NPA of Nationalized Banks
Posted Date : 06-Sep-2012 , 09:13:00 pm | Posted By CASANSAAR
The Gross Non-Performing Assets (GNPAs) of Nationalized Banks as on June 2012 were Rs.73,038 crore which amount to 2.94% of Gross Advances. Data Reporting System of Reserve Bank of India (RBI) does not generate State wise details.
Banks are required to monitor their NPA...
Continue Reading...
Category :
Banking |
Comments :
1 | Hits : 880
|
|
Now, make your bank transactions through Facebook
Posted Date : 06-Sep-2012 , 08:06:27 am | Posted By CASANSAAR
Third largest lender ICICI Bank on Monday said it is working towards allowing its customers to make transactions through social networking site Facebook.
The Mumbai-based bank's chief technology officer Mukesh KumarJain said the bank has Facebook likes close to 8&nb...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 1049
|
|
Admission to PCE/IPCE November 2012 Examination - ICAI
Posted Date : 06-Sep-2012 , 08:03:24 am | Posted By CASANSAAR
Announcement
The Institute has recently announced Direct Entry Scheme for admission to Intermediate (IPC) course for graduates/post graduates with specified marks and Intermediate level passed students of the Institute of Company Secretaries of India and the Institute of Cost Accountants of I...
Continue Reading...
Category :
Students Zone |
Comments :
0 | Hits : 1435
|
|
|
