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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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 : 719
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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 : 805
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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 : 671
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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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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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0 | Hits : 890
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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 : 770
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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 : 791
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Sebi's toll-free service for investors open on whole week
Posted Date : 30-Aug-2012 , 09:56:05 pm | Posted By CASANSAAR
Investors can access Sebi's toll-free helpline service for guidance and assistance on various matters on Saturdays and Sundays as well.
Earlier, the service was accessible from Monday to Friday.
"SEBI has extended its toll-free helpline service (1800 22 7575 / 1800 266 7575) ...
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SEBI |
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Additional Services Exempted from Service Tax
Posted Date : 30-Aug-2012 , 09:35:47 pm | Posted By CASANSAAR
At present there are 17 items in the negative list (Section 66 D of the Finance Act, 1994) and 39 items in the mega exemption notification 25/2012-ST dated 20.6.2012. Government has recently exempted more services from the purview of service tax. They are: Transport of goods by inland waterways...
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Income Tax |
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0 | Hits : 1496
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Brief Profile of CA Vivek Khurana (Founder of casansaar.com & NIRC Candidate - Dec.2012)
Posted Date : 30-Aug-2012 , 06:43:28 am | Posted By CASANSAAR
CA.Vivek Khurana, Founder of casansaar.com a Graduate in Commerce and a Fellow Member of the Institute of Chartered Accountants of India.Mr. Khurana is born and brought up in Rohtak (Haryana). He is a Sr. Partner of VGM & Associates, Chartered Accountants having offices in De...
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General |
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Income Tax department announces mascot contest; Rs 1 lakh cash prize
Posted Date : 30-Aug-2012 , 06:30:15 am | Posted By CASANSAAR
The Income Tax department has announced a mascot contest for the public that would carry a cash reward of Rs one lakh for the winning entry.The taxman wants the mascot, which will be used in all communications and publicity purposes of the department, to be "captivating" and "ins...
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Income Tax |
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0 | Hits : 1235
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K.V.Chowdary appointed CBDT member
Posted Date : 30-Aug-2012 , 06:29:39 am | Posted By CASANSAAR
Senior Income Tax officer K V Chowdary was appointed member of the Central Board of Direct Taxes (CBDT) in the Finance Ministry.
A 1978-batch Indian Revenue Service (IRS) officer, he was till now serving as the Director General (Investigations) in the national capital and was heading a numb...
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Income Tax |
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0 | Hits : 718
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IRCTC to launch deposit scheme for faster bookings
Posted Date : 30-Aug-2012 , 06:26:08 am | Posted By CASANSAAR
Booking a ticket through the Indian Railway Catering and Tourism Corporation(IRCTC) website is set to get easier and faster if the IRCTC's plans to set up a rolling deposit scheme (RDS) work out. Pradeep Kundu, joint general manager, public relations, IRCTC, said, "Under the...
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General |
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0 | Hits : 1109
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Sebi amends equity listing agreement
Posted Date : 30-Aug-2012 , 06:24:12 am | Posted By CASANSAAR
Capital market regulator Securities and Exchange Board of India (Sebi) on Wednesday amended the equity listing agreement to allow two new avenues for companies. This is amide at achieving minimum public shareholding requirements.
The Sebi board, at its meeting on August 16, had taken a deci...
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SEBI |
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0 | Hits : 775
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Expenses by employees on company-leased flats not taxable, says Delhi HC
Posted Date : 30-Aug-2012 , 06:22:26 am | Posted By CASANSAAR
In a ruling that has potentially far reaching implications for employees living in company-leased accommodation, the Delhi High Court has ruled that money spent on repairs and renovations of such residences is not a taxable perk.The verdict, delivered on August 17, comes 18 years...
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Income Tax |
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0 | Hits : 727
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Direct Taxes Code needs a fresh look, says finance minister
Posted Date : 29-Aug-2012 , 07:58:45 am | Posted By CASANSAAR
The implementation of the Direct Taxes Code (DTC), which seeks to overhaul 50-year-old income tax laws, is likely to be delayed as it needs a fresh relook. The government was planning to implement the DTC by April 1, 2013, but the events which unfolded after the 2012-13 Budget — ranging f...
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Income Tax |
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0 | Hits : 860
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Screening of e-filed tax audit reports begins
Posted Date : 29-Aug-2012 , 07:55:30 am | Posted By CASANSAAR
Income tax (I-T) department has started screening the tax audit reports filed by chartered accountants with a view to check fake membership numbers, membership numbers which exceeded the specified number (ceiling) of tax audit assignments etc.
Official sources said the Institute o...
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Income Tax |
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0 | Hits : 1444
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SC extends VAT deadline to Oct 15, relief for developers and buyers
Posted Date : 29-Aug-2012 , 07:49:14 am | Posted By CASANSAAR
The Supreme Court, on Tuesday, extended the deadline for registration of VAT till October 15. The Maharashtra sales tax department, in a recent circular, had directed builders to pay 5 per cent VAT by August 31 this year along with penalty on purchase of properties between June 20, 2006 and March 31...
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VAT |
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0 | Hits : 1063
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SEBI lets IDR holders convert 25% into equity
Posted Date : 29-Aug-2012 , 07:47:01 am | Posted By CASANSAAR
Capital markets regulator Securities & Exchange Board of India has allowed the conversion of 25% of Indian depository receipts (IDRs) of a company into underlying overseas listed equity shares in any financial year, following a promise made by formerfinance minister Pranab Mukherjee.The fun...
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SEBI |
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Antivirus software at discounted price: An arrangement made by the Committee for Capacity Building of CA Firms and Small & Medium Practitioners (CCBCAF&SMP), ICAI
Posted Date : 28-Aug-2012 , 10:00:46 pm | Posted By CASANSAAR
The Committee for Capacity Building of CA Firms and Small & Medium Practitioners (CCBCAF&SMP), ICAI in order to enable members to have access to antivirus software, has tied up with Quick Heal technologies Pvt. Ltd. Pune for providing access to Quick Heal Total Security at a special ...
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General |
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Government approves complete ban on child labour below 14 yrs of age
Posted Date : 28-Aug-2012 , 09:58:51 pm | Posted By CASANSAAR
The Government today cleared a proposal to put a complete ban on employment of children up to the age of 14 both in hazardous and non-hazardous work by amending an anti-child labour Act. The Union Cabinet, which met in New Delhi today, approved bringing amendment to the Child Labour (Prohibition and...
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General |
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0 | Hits : 949
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Failed IPOs: 'Brokers to get commission
Posted Date : 28-Aug-2012 , 12:50:31 pm | Posted By CASANSAAR
Companies will have to pay commission to brokers for the submission of investors' IPO forms even if the public offer is withdrawn, and listings will not be allowed till the time this payment is made.
In its guidelines for submission of IPO (Initial Public Offer) applications through a natio...
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Corporate Law |
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0 | Hits : 789
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Most Americans say the rich don't pay enough taxes: Survey
Posted Date : 28-Aug-2012 , 07:54:23 am | Posted By CASANSAAR
As the income gap between rich and poor widens, a majority of Americans say the growing divide is bad for the country and believe that wealthy people are paying too little in taxes, according to a new survey.The poll released Monday by the Pew Research Centerpoints to a particular challenge for...
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Income Tax |
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0 | Hits : 760
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SEBI launches no-frills demat accounts for investors
Posted Date : 27-Aug-2012 , 10:35:41 pm | Posted By CASANSAAR
The Securities and Exchange Board of India(Sebi), today launched no-frills demat accounts for individual retail investors. There will be no annual maintenance charges of deposits of up to 50,000 rupees, while deposits between 50,001 rupees and 200,000 rupees will be 100 rupees. Sebi said the ‘...
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SEBI |
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0 | Hits : 1013
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Finance Minister to Address Chief Commissioners/DGs of Customs, Excise & Service Tax Tomorrow
Posted Date : 27-Aug-2012 , 10:33:50 pm | Posted By CASANSAAR
The Conference of the Chief Commissioners and Directors General of Customs, Central Excise and Service Tax will be held in New Delhi tomorrow. The Union Finance Minister, Shri P. Chidambaram will inaugurate the Conference and also interact with the tax officials in the open house discussions. T...
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Income Tax |
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0 | Hits : 642
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Multi-Level Marketing Companies
Posted Date : 27-Aug-2012 , 10:33:02 pm | Posted By CASANSAAR
On the basis of specific complaints received in the Ministry, Regional Directors (RDs) and Registrar of Companies (RoCs) have been directed to Scrutinize the Balance Sheets and Inspect the books of accounts and other records under sections 234 and 209A respectively of the Companies Act, 1956 in resp...
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Corporate Law |
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0 | Hits : 859
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Companies need approval to pay over 10% of net profit to directors
Posted Date : 27-Aug-2012 , 04:07:55 pm | Posted By CASANSAAR
Registered companies in India can't pay more than 10% of net profit as remuneration to board-level directors overall without the government's approval, the Ministry of Corporate Affairs said today.
The total remuneration to be paid to all the board level directors including the CEO of a com...
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Corporate Law |
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0 | Hits : 1090
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No takers for CAs
Posted Date : 27-Aug-2012 , 07:40:18 am | Posted By CASANSAAR
Chartered accountant, a designation that once guaranteed a cushy job and a promising career, is now a victim of economic slowdown if the placement scene at Institute of Chartered Accountants of India, Ahmedabad chapter, is any indication. As compared to last year, when eight companies recruited 60 C...
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ICAI |
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1 | Hits : 3114
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DTC likely to miss April 2013 deadline
Posted Date : 27-Aug-2012 , 07:31:36 am | Posted By CASANSAAR
The much talked about Direct Taxes Code (DTC) appears set to miss the April 2013 deadline, too.
Finance Minister P Chidambaram wants a complete reworking of the DTC Bill, which had been substantially changed under former finance minister Pranab Mukherjee from what was initially formulated u...
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Income Tax |
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