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...
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International Business |
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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...
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Banking |
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1 | Hits : 846
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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...
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Income Tax |
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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,...
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Income Tax |
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0 | Hits : 719
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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...
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Category :
Auditing |
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0 | Hits : 913
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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)...
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Income Tax |
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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...
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Category :
Income Tax |
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0 | Hits : 814
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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...
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RBI |
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FM suggests creation of National Investment Board for clearance of projects
Posted Date : 16-Sep-2012 , 08:44:27 am | Posted By CASANSAAR
The Finance Minister P Chidambaram has suggested creation of National Investment Board for speedy clearance of mega projects. He said the board headed by the Prime Minister Dr. Manmohan Singh may take a investment proposals above 1000 crore rupees in the infrastructure sector.
He said, the...
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Finance |
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0 | Hits : 736
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Cabinet clears 51% FDI in multi-brand retail and 100 per cent in Single Brand retail
Posted Date : 15-Sep-2012 , 09:23:41 am | Posted By CASANSAAR
The Cabinet today approved 51 per cent FDI in multi-brand retail and 100 per cent in Single Brand retail subject to conditions. Breifing newsmen on the decisions of the Cabinet Committee on Economic Affairs, Commerce Minister Anand Sharma said, the conditions for FDI in Single Brand retail include t...
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Income Tax |
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CCI launches a Knowledge Partnership Initiative (KPI) with Prominent Law Schools
Posted Date : 15-Sep-2012 , 09:21:01 am | Posted By CASANSAAR
Competition Commission of India (CCI) has launched a Knowledge Partnership Initiative (KPI) with prominent law schools in India. The objectives of the initiative are to build a strong knowledge base in the field of competition law, to promote competition law compliance in India and expand the outrea...
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Category :
Corporate Law |
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0 | Hits : 707
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Coalgate comes under judicial scrutiny, SC notice to Centre
Posted Date : 14-Sep-2012 , 04:31:54 pm | Posted By CASANSAAR
The alleged irregularities in the coal block allocations came under judicial scrutiny today with the Supreme Court directing the Centre to explain if the guidelines were strictly followed in allotting the natural resource to private companies.
Turning down the Centre's plea that the court s...
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Category :
General |
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1 | Hits : 689
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Procedure of ICAI Elections. (Preferential Voting System)
Posted Date : 14-Sep-2012 , 08:56:14 am | Posted By CASANSAAR
Our elections are held on the single ‘transferable vote’ system under which thevoter has to indicate his preferences about the candidates by inserting the figures 1, 2, 3 etc against the names of the candidates according to his preference. Some members are under the ...
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ICAI |
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1 | Hits : 3568
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RBI restricts Vishal Finlease from accepting public deposits
Posted Date : 14-Sep-2012 , 08:38:25 am | Posted By CASANSAAR
The Reserve Bank has restricted Gandhinagar based non-banking financial institutionVishal Finlease Pvt Ltd from accepting public deposits for violation of guidelines. "The company - Vishal Finlease Pvt Ltd - has been stopped from accepting public deposits for violating RBIgui...
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RBI |
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SC directs Essar Oil to pay Rs 5,198 cr tax dues
Posted Date : 14-Sep-2012 , 08:36:38 am | Posted By CASANSAAR
The Supreme Court on Thursday directed the Ruias-owned Essar Oil to pay dues of Rs 5,189 crore to Gujarat government towards its tax liability in eight quaterly instalments. The court also imposed an interest of 10 per cent on this amount from January, 2012.
While disposing of the company&r...
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Category :
Income Tax |
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0 | Hits : 821
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MCA to introduce refund process for unlinked incorrect NEFT payments
Posted Date : 14-Sep-2012 , 08:35:32 am | Posted By CASANSAAR
MCA is pleased to announce that a refund process will be introduced by 16th September, 2012 for the unlinked incorrect NEFT payments.
Revised refund e-Form along with instruction kit will be available on the MCA21 portal. Users are requested to avail this facility....
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Category :
Corporate Law |
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0 | Hits : 798
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RBI: Central bank focusing on bringing down cash component in economy
Posted Date : 14-Sep-2012 , 08:33:19 am | Posted By CASANSAAR
RBI has said that the central bank is focused on bringing down the cash component in the economy. Speaking to reporters in Mumbai today, RBI Deputy Governor H R Khan said that circulation of a large amount of cash in the economy leads to many problems and hence India should move towards a less cash ...
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RBI |
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1 | Hits : 824
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Diesel price hiked by Rs 5 per litre, petrol price left unchanged
Posted Date : 13-Sep-2012 , 08:37:42 pm | Posted By CASANSAAR
The Manmohan Singh government has bitten the bullet on fuel prices in the face of huge opposition not only from allied parties, but even within the Congress.The Cabinet Committee on Political Affairs on Thursday approved aRs. 5 hike in the price of diesel. The hike is effective from midnight to...
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Category :
Finance |
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0 | Hits : 961
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Re-investigate murder of woman CA, HC tells Haryana police
Posted Date : 13-Sep-2012 , 08:35:07 am | Posted By CASANSAAR
A harrowing tale of a young chartered accountant’s (CA) attempted rape, murder and prima facie attempts by the Haryana Police to shield the accused, has surfaced in the Punjab and Haryana High Court.
The victim, Jyoti, was not only hospitalised for five days after an attempted ra...
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Category :
ICAI |
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2 | Hits : 1947
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Share buyback expenditure not taxable: Income Tax Appellate Tribunal
Posted Date : 13-Sep-2012 , 08:33:45 am | Posted By CASANSAAR
In an order that will have a bearing on companies opting to buy back shares at a premium, the Income Tax Appellate Tribunal (ITAT), Mumbai held that tax is not payable for the expenditure incurred for such buybacks. Such buybacks involve an expenditure incurred for a smooth and effici...
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Category :
Shares & Stock |
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0 | Hits : 796
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Income Tax department deputes special team to transcribe Radia tapes
Posted Date : 13-Sep-2012 , 08:26:38 am | Posted By CASANSAAR
The Income Tax department has deployed a special team to transcribe the remaining recordings of the telephone conversations of corporate lobbyist Niira Radia after the Supreme Court had recently directed it to do so. The department, according to sources, had earlie...
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Category :
Income Tax |
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0 | Hits : 698
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ICICI Bank, HDFC Bank and Axis Bank cut interest rates on retail term deposits
Posted Date : 13-Sep-2012 , 08:21:35 am | Posted By CASANSAAR
The top three private sector lenders in the country — ICICI Bank, HDFC Bank, and Axis Bank — have slashed interest rates on retail term deposits across maturities. The move is aimed at boosting the net interest margins of the banks, which have been stressed due to slow loan growth and th...
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Category :
Banking |
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1 | Hits : 828
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Sahara sends two truck-loads of documents to Sebi
Posted Date : 12-Sep-2012 , 08:51:56 pm | Posted By CASANSAAR
Market regulator Sebi's woes with Sahara Group grew today as it sought to approach the Supreme Court on the business conglomerate's non-compliance to a deadline for submission of documentary evidence of money collected from investors through issue of debentures.Sahara Group is believed to have dispa...
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SEBI |
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Dr. M. Veerappa Moily Launches a Legal Compliance Manual Aimed at Increasing Compliance among Companies
Posted Date : 12-Sep-2012 , 08:50:12 pm | Posted By CASANSAAR
Union Corporate Affairs Minister Dr. M. Veerappa Moily today launched a Legal Compliance Manual (LCM) here in New Delhi. The objective of this manual is to ensure the compliance of Central and State Laws and follow the norms of good Corporate Governance. The LCM is joi...
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Category :
Corporate Law |
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1 | Hits : 889
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Announcement for Empanelment as a Technical Reviewer with the Quality Review Board
Posted Date : 12-Sep-2012 , 02:44:59 pm | Posted By CASANSAAR
Dated: 5th September, 2012
Announcement for Empanelment as a Technical Reviewer with the Quality Review Board
The Government of India has, in exercise of the powers conferred by Sec. 28A of the Chartered Accountants Act, 1949, constituted a Quality Review Board to perform the follo...
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Category :
ICAI |
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1 | Hits : 961
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ICAI to launch Centre of Excellence
Posted Date : 12-Sep-2012 , 08:27:51 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) has decided to establish a Centre of Excellence in the state with an investment of nearly Rs 15 crore. The project proposal will be presented at ‘Emerging Kerala’.
It will be more like a university with bachelors, masters an...
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ICAI |
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0 | Hits : 1333
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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, ...
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RBI |
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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-...
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Category :
GST |
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1 | Hits : 1070
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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...
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Category :
Income Tax |
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1 | Hits : 705
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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...
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Category :
Finance |
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0 | Hits : 750
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