SEBI Bill withdrawn in Lok Sabha after objections from Parliamentary panel
Posted Date : 06-Sep-2012 , 07:58:32 am | Posted By CASANSAAR
Facing opposition from a Parliamentary panel, government today withdrew a bill which sought to raise the retirement age of members of a tribunal which adjudicates on appeals against decisions of the Securities and Exchange Board of India (SEBI). Minister of State for Finance Namo Narain Me...
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SEBI |
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FM P Chidambaram asks Income Tax department to monitor advance tax collection
Posted Date : 06-Sep-2012 , 07:55:34 am | Posted By CASANSAAR
Finance Minister P Chidambaram has asked each zonal office of the Income Tax departmentto monitor advance tax collection and achieve the targets fixed."Each region has been allocated target of tax collections. Each assessing officers is required to monitor the advance ...
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Income Tax |
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Rs. 86,000 Crore Indirect Tax Revenue Locked up in Litigation
Posted Date : 06-Sep-2012 , 07:51:44 am | Posted By CASANSAAR
An amount of Rs.86,000 crores indirect tax revenue of Central Board of Excise and Customs has been locked up in litigation.
Success rate of departmental litigation in Courts and Tribunal during the last four y...
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General |
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Increase in Number of Foreign Companies
Posted Date : 06-Sep-2012 , 07:51:09 am | Posted By CASANSAAR
As per the 55th Annual Report on the working and administration of the Companies Act 1956 for the year ended March 2011, the number of foreign companies has increased from 2609 as on 31.3.2008 to 3127 as on 31.3.2011. There has been consistent increase in the number of foreign companies which have a...
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Corporate Law |
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Income Tax Overseas Units
Posted Date : 06-Sep-2012 , 07:50:30 am | Posted By CASANSAAR
Income-tax Overseas Units (ITOUs) manned by tax officers at the level of First Secretary have been established in Mauritius and Singapore. Further, posting orders in respect of officers to be posted to newly created ITOUs in Indian missions at Cyprus, France, Germany, Japan, Netherlands, UAE, UK and...
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Income Tax |
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0 | Hits : 760
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Relaxation of NBFC Norms
Posted Date : 06-Sep-2012 , 07:48:40 am | Posted By CASANSAAR
In view of the problems being faced by NBFC in complying with the extant this criteria on account of their existing portfolio, the RBI modified its directions on August 03, 2012 to include within the definition of ‘qualifying asset’ only those assets which originated on or after 1st Janu...
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Finance |
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ICAI Election - 2012
Posted Date : 05-Sep-2012 , 08:50:15 am | Posted By CASANSAAR
ICAI Election to the Twenty Second Council and Twenty First Regional Councils to be held on 7th and 8th December, 2012.
Nomination Form for election to Council
Nomination Form for election to Regional Councils
Election Related Notifications
Election Code of Conduct
Notification regarding...
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ICAI |
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Basel III capitalisation needs Rs.90,000 crore: R
Posted Date : 05-Sep-2012 , 08:45:01 am | Posted By CASANSAAR
To fulfil the capital requirements under Basel III, the government will have to infuse up to Rs90,000 crore into state-owned banks by March 2018, RBI governor D Subbarao said on Tuesday. The capital infusion will keep the government’s shareholding at current levels, he said.
“Pr...
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Banking |
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Cos can't file IT returns and then move AAR: Delhi High Court
Posted Date : 05-Sep-2012 , 08:42:00 am | Posted By CASANSAAR
If a company files an Income-tax return it would lose the right to seek a ruling from the Authority for Advance Ruling (AAR), a quasi judicial body which gives advance rulings on tax implications of transactions involving foreign companies, the Delhi High Court ruled re...
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Income Tax |
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0 | Hits : 799
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Diesel rates may rise by Rs 4-5 per litre after Sept 7; petrol price to go up too
Posted Date : 04-Sep-2012 , 05:57:46 pm | Posted By CASANSAAR
The petroleum ministry plans to raisediesel rates by Rs 4-5 per litre after the parliament session ends on September 7 as oil firms' revenue loss has soared to almost half the retail price, but it expects stiff resistance from the ruling coalition, having tough time defending the government on ...
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General |
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ICAI expands teaching facilities in UAE
Posted Date : 04-Sep-2012 , 04:34:29 pm | Posted By CASANSAAR
Institute of Chartered Accountants of India (ICAI) has expanded its teaching facilities in the UAE, buoyed by a higher demand for such facilities among chartered accountant hopefuls.
The expanded campus of the ICAI was inaugurated here recently by Jaydeep Narain Shah, President of ICAI, in the pres...
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ICAI |
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Cabinet approves Bill providing quota in promotions for SC/ST in govt jobs
Posted Date : 04-Sep-2012 , 04:31:41 pm | Posted By CASANSAAR
The Union Cabinet today approved the proposed Bill to provide quota for Scheduled Castes and Scheduled Tribes, SCs and STs, in promotions, which would require certain changes in the Constitution.
The proposed Bill seeks to amend at least four articles of the Constitution to enable the gove...
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General |
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Finance Ministry wants loss-making banks, insurers out of CCI ambit: MCA
Posted Date : 04-Sep-2012 , 08:43:08 am | Posted By CASANSAAR
The Finance Ministry has sought an exemption for mergers and acquisitions of “loss-making and failing” banks as well as insurers that are being vetted by the Competition Commission, the Corporate Affairs Ministry said today.
However, no banks have themselves sought any exemption...
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Corporate Law |
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0 | Hits : 796
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Authorities will not 'rashly' implement retrospective tax rules, assures Chidambaram
Posted Date : 04-Sep-2012 , 08:40:07 am | Posted By CASANSAAR
Terming payment of taxes as a 'mark of civilisation',Finance Minister P Chidambaram has assured that authorities will not "rashly" implement controversialretrospective tax rules while once again promising a non-adversarial tax regime for all taxpayers.This is the second time in less t...
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Income Tax |
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CA students to attend GMCS twice during the period of articled training
Posted Date : 04-Sep-2012 , 08:36:40 am | Posted By CASANSAAR
This is to bring to your kind notice that the Council has decided that the General Management & Communication Skills (GMCS) Course, presently being organized for 15 days for the CA students shall be organized twice during the period of articled training as under:
(i) GMCS-I&...
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Students Zone |
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SIDBI Signs Agreement with Germany
Posted Date : 03-Sep-2012 , 07:10:16 pm | Posted By CASANSAAR
Under the umbrella of Indo German bilateral development cooperation, the Small Industries Development Bank of India(SIDBI) and the German Government’s Development Bank KfW, today signed an agreement for financial assistance totaling EURO 54 million (approximately Rs. 375 crore) ...
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Income Tax |
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ICICI Bank to hike overseas ATM cash withdrawal fee by 17%
Posted Date : 03-Sep-2012 , 01:55:21 pm | Posted By CASANSAAR
ATM cash withdrawals at international locations by ICICI Bank customers are set to get dearer by nearly 17 per cent by the middle of this month. "With effect from September 15, 2012 ATM cash withdrawal fee at international location will be increased from Rs 107 to Rs 125," the country's largest...
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International Business |
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India
Posted Date : 03-Sep-2012 , 01:48:19 pm | Posted By CASANSAAR
A. EXPORTS (including re-exports)
Exports during July, 2012 were valued at US $ 22442.96 million (Rs. 124546.75 crore) which was 14.80 per cent lower in Dollar terms (6.45 per cent higher in Rupee terms) than ...
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International Business |
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0 | Hits : 717
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India
Posted Date : 03-Sep-2012 , 08:57:53 am | Posted By CASANSAAR
The Income Tax Department has detected Rs 230 crore unaccounted income from the well known Chhajalani group in arguably the biggest ever income tax evasion in India. The 3 -day long income tax surveys concluded on Saturday.
The group owners agreed to surrender unaccounted income of Rs 230 c...
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Income Tax |
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Govt expands scope of GAAR panel to cover all non-residents tax payers
Posted Date : 01-Sep-2012 , 04:30:18 pm | Posted By CASANSAAR
The government on Saturday expanded the scope of the expert committee on General Anti-Avoidance Rules (GAAR) to include all non-resident tax payers, even as the Committee submitted its draft report to the Ministry.The announcement to increase the scope of GAAR committee , which i...
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Income Tax |
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MNCs can now find out tax dues in advance on deals with India arms
Posted Date : 01-Sep-2012 , 08:28:18 am | Posted By CASANSAAR
India has allowed multinationals to ascertain in advance their potential tax liability relating to transactions with their Indian arms, a mechanism that can help address the frequent transfer pricingdisputes.The Central Board of Direct Taxes, the apex direct taxes body, has announced ...
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Income Tax |
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No service tax on vocational courses by govt institutions
Posted Date : 01-Sep-2012 , 08:26:21 am | Posted By CASANSAAR
"When a VEC is offered by an institution of the government or a local authority, question ofservice tax does not arise," the Central Board of Excise and Customs (CBEC) said in a circular.
The CBEC has issued the circular in view of the doubts expressed in respect of levy of s...
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Service Tax |
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K V Chowdary appointed as new CBDT member
Posted Date : 01-Sep-2012 , 08:24:54 am | Posted By CASANSAAR
Senior income tax officer K V Chowdaryhas been appointed as the new member of Central Board of Direct Taxes (CBDT) in the Finance Ministry. A 1978-batch Indian Revenue Service (IRS) officer, Chowdary will look after Audit and Judicial charge in CBDT. He was ti...
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Income Tax |
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0 | Hits : 741
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NSE issues SME platform norms; 1st IPO to hit next week
Posted Date : 01-Sep-2012 , 08:22:35 am | Posted By CASANSAAR
National Stock Exchange today issued detailed guidelines for its new trading platform for shares of small and medium enterprises (SMEs), where the first Initial Public Offer by a company would begin on September 4.
As per a circular issued by NSE, all members eligible for its main capital m...
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Shares & Stock |
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0 | Hits : 710
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Sahara told to repay small investors $3.1 bln
Posted Date : 01-Sep-2012 , 08:17:03 am | Posted By CASANSAAR
Unlisted conglomerate Sahara, one of India's biggest groups and a household name through its cricket sponsorship, must refund 174 billion rupees raised by "dubious" means from 22 million small investors, India's top court has ruled.
Friday's judgment underscored an increasing ass...
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Finance |
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0 | Hits : 793
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Ministry of Finance Notifies Advance Price Agreement (APA) Scheme
Posted Date : 01-Sep-2012 , 08:13:19 am | Posted By CASANSAAR
The Ministry of Finance has notified an “Advance Pricing Agreement Scheme” (Rules 10F to 10T of Income Tax Rules, 1962) vide notification No. 36/2012 dated 30-8-2012. The Finance Act, 2012 had inserted sections 92CC and 92CD in the Income Tax Act 1961 introducing the provisions of Advanc...
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Income Tax |
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0 | Hits : 656
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Good Corporate Governance is Essentially about Effective & Responsible Leadership -Dr. M.Veerappa Moily
Posted Date : 01-Sep-2012 , 08:12:41 am | Posted By CASANSAAR
Union Corporate affairs Minister Dr. M. Veerappa Moily has underlined the need to bring in such a good corporate Governance that is essentially about effective and responsive leadership which calls for integrity, transparency and accountability. Dr. Moily was addressing the 2nd ICSI CORPORATE GOVERN...
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Corporate Law |
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0 | Hits : 659
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MCA initiated action against 107 firms on investor complaints Sebi has also taken actions in 62 cases in the last three fiscal years
Posted Date : 31-Aug-2012 , 07:14:51 am | Posted By CASANSAAR
The Ministry of Corporate Affairs today said it has initiated action against 107 companies in the past three financial years with regard to investor complaints against them.
Replying to a query, Minister of Corporate Affairs (MCA) Veerappa Moily, said the in Lok Sabha that his ministry has ...
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Corporate Law |
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Over 4,600 public grievances pending with Income Tax department
Posted Date : 31-Aug-2012 , 07:12:37 am | Posted By CASANSAAR
More than 4,600 public grievances are pending with the Income Tax department, the government said today. As many as 4,618 public grievances are pending with the IT department under the Central Board of Direct Taxes, 4,158 with Ministry of Home Affairs (MHA), 2,161 with Ministry o...
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Income Tax |
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0 | Hits : 747
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Banks have Rs 2,481 crore of unclaimed deposits
Posted Date : 31-Aug-2012 , 07:10:08 am | Posted By CASANSAAR
Banks have about Rs 2,481 crore as unclaimed deposits and the government has proposed to credit unclaimed funds of more than 10 years to a new fund."Reserve Bank of India (RBI) has informed that as of December 31, 2011, total amount of around Rs 2,481.40 crore in 1,12,49,844 acco...
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Banking |
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0 | Hits : 767
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