Parliamentary Panel to discuss DTC; may suggest hiking IT exemption limit
Posted Date : 16-Feb-2012 , 06:22:54 pm | Posted By CASANSAAR
A Parliamentary panel will meet tomorrow to discuss the report on the Direct Taxes Code (DTC) Bill, understood to have favoured raising I-T exemption limit to Rs 3 lakh. "The Standing Committee on Finance will meet tomorrow to discuss the the full report on the DTC Bill," sources said. Last week...
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Income Tax |
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Mumbai world's 2nd least expensive city, Delhi 4th
Posted Date : 16-Feb-2012 , 05:54:24 pm | Posted By CASANSAAR
A high rate of inflation may be pinching hard on day-to-day life of people in the country, but a global survey has named two Indian cities - the financial hub Mumbai and the national capital New Delhi - among the four least expensive places across the world.
As per the worldwide 'cost of living' ...
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International Business |
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MCX sets IPO price band at Rs 860-1,032 per share
Posted Date : 16-Feb-2012 , 03:09:43 pm | Posted By CASANSAAR
India's largest commodity bourse Multi Commodity Exchange (MCX) set a price band of Rs 860 to Rs 1,032 a share for its initial public offering, which could raise up to Rs 663 crore.
The bidding for shares in the IPO -- the first of the year 2012 -- would begin on February 22 and close on ...
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Shares & Stock |
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CAG wants to audit all government LLPs
Posted Date : 16-Feb-2012 , 08:24:05 am | Posted By CASANSAAR
Comptroller & Auditor General has asked for powers to audit all limited liability partnerships (LLPs) in which the government holds a majority stake directly or indirectly. Under the current rules, LLPs that have a turnover of less than Rs 40 lakh a year or where the total contribution by p...
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Auditing |
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House panel pushes for taxpayer-friendly code
Posted Date : 16-Feb-2012 , 08:17:21 am | Posted By CASANSAAR
The panel of Parliament examining the Direct Taxes Code (DTC) Bill has almost finalised its recommendations. It wants more taxpayer-friendly measures.
With the government expected to bring provisions in the coming Budget to change the rules that led to it losing in the tax dispute with Vo...
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Income Tax |
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Company Secretaries June, 2012 Examination -Applicability of the latest Finance Act and other changes
Posted Date : 16-Feb-2012 , 08:11:16 am | Posted By CASANSAAR
Applicability of the latest Finance Act and other changes for Company Secretaries June, 2012Examination.
DIRECT TAXES
All students may note that for the June 2012 ExaminationSession in respect of Direct Taxes the applicable Assessment Year shall be 2012-13 (Previous Year 2011-12)....
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Students Zone |
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How To Complain Against Corruption - CVC
Posted Date : 16-Feb-2012 , 08:05:29 am | Posted By CASANSAAR
CENTRAL VIGILANCE COMMISSIONSatarkta Bhawan, GPO ComplexBlock A, INA, New Delhi 110023Office Order No. 4/02/12Dated: 13th February 2012
Sub: GoI Resolution on the Public Interest Disclosure & Protection of Informers (PIDPI) – Guidelines thereon.
The Government o...
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General |
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RBI allows non-banking entities to set up ATMs
Posted Date : 15-Feb-2012 , 05:13:59 pm | Posted By CASANSAAR
In a move to accelerate the growth and penetrations of ATMs across the country, the Reserve Bank of India, RBI has issued draft guidelines for permitting non-banking entities to set up, own and operate such money dispensing machines.Non-bank entities proposing to set up such service will have a mini...
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RBI |
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Opening of Certified Registration Centre for Facilitating Student Services - ICAI
Posted Date : 15-Feb-2012 , 08:36:17 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India has introduced a scheme for opening of Certified Registration Centre at the office of chartered accountants firms/practicing members in order to provide online registration facility in CPT course.
...
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ICAI |
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‘Extend tax relief for investment in infrastructure bonds'
Posted Date : 15-Feb-2012 , 08:30:20 am | Posted By CASANSAAR
The Central Direct Tax Advisory Committee has suggested that the Finance Minister re-introduce the standard deduction for a sum of Rs 50,000. It also called for extension of investment for tax benefit in infrastructure bonds.
The committee meeting, held on Tuesday, was chaired by the Finance Mini...
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Budget |
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Govenrment to Provide Citizen-Centric Governance in Order to Improve Taxpayer Services and Redressal of Public Grievances : FM
Posted Date : 15-Feb-2012 , 08:23:24 am | Posted By CASANSAAR
The Union Finance Minister Shri Pranab Mukherjee has said that initiative of the Government is to provide citizen-centric governance in order to improve taxpayer services and redressal of public grievances. The Finance Minister Shri Mukherjee said that to unearth the black money, the Government has ...
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Income Tax |
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Employment of youth high priority for Government, says PM
Posted Date : 15-Feb-2012 , 08:22:01 am | Posted By CASANSAAR
The Prime Minister has emphasised the need to provide gainful opportunities to a large number of young people who join the work force every year by equipping them with demand driven marketable skills.Inaugurating the 44th Indian Labour Conference in New Delhi today, Dr. Manmohan Singh said skill dev...
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General |
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Higher tax on properties near Metro lines suggested
Posted Date : 14-Feb-2012 , 04:36:34 pm | Posted By CASANSAAR
The people residing in close proximity to Metro lines may have to shell out more by way of property tax if the urban development ministry suggestion to state governments is implemented. The ministry has sought the state governments' opinion on levying additional taxes on land transactions near t...
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General |
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RBI hikes bank rate after nine years to 9.5%
Posted Date : 14-Feb-2012 , 04:18:43 pm | Posted By CASANSAAR
After a gap of nearly nine years, the Reserve Bank has increased the bank rate by 3.50 percentage points to 9.5 per cent with immediate effect. "This (the increase) should be viewed and understood as one-time technical adjustment to align the Bank Rate with the marginal standing facility (MSF)...
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RBI |
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ICAI bans PW India's top auditor for life in Satyam case
Posted Date : 14-Feb-2012 , 08:15:41 am | Posted By CASANSAAR
Trouble continues for the PricewaterhouseCoopers India network over the Satyam scandal. A little over two months after banning two audit managers from its India network, the Institute of Chartered Accountants of India (ICAI) has banned one of the firm's top audit partner Srinivas Talluri f...
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ICAI |
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Petrol prices may rise by Rs 3 soon after UP polls
Posted Date : 14-Feb-2012 , 08:13:11 am | Posted By CASANSAAR
Petrol prices are expected to rise by about Rs 3 per litre early next month after the crucial assembly election in Uttar Pradesh, industry executives said on Monday. Executives in Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum said petrol rates had not been revised for two mon...
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General |
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Budget 2012: Govt mulls hiking excise duty to 12%
Posted Date : 14-Feb-2012 , 08:06:41 am | Posted By CASANSAAR
The finance ministry is considering a proposal to increase excise duty from 10% to 12%, although still lower than the level before the 2008 financial crisis. The move, officials argue, is aimed at helping the government improve its fiscal situation but it is expected to push up the cost of almost al...
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Budget |
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Empanelment Form for Observers for the CA Exam to be held in May-2012 and the Common Proficiency Test to be held in June-2012
Posted Date : 13-Feb-2012 , 06:14:38 pm | Posted By CASANSAAR
ANNOUNCEMENT FOR EMPANELMENT OF MEMBERS OF THE INSTITUTE TO ACT AS OBSERVERS IN THE CENTRES WHEREIN CHARTERED ACCOUNTANTS EXAMINATIONS ARE CONDUCTED.
The Institute intends to draw a Panel from amongst its Members for acting as Observer at the examination centres in variou...
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Income Tax |
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Black money: Indians have stashed over $500bn in banks abroad, says CBI
Posted Date : 13-Feb-2012 , 04:33:55 pm | Posted By CASANSAAR
Indians are the largest depositors in banks abroad with an estimated 500 billion US dollars (nearly Rs 24.5 lakh crore) of illegal money stashed by them in tax havens, the CBI director said on Monday. India, in particular, has suffered from the flow of illegal funds to tax h...
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Finance |
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National Competition Policy to be launched on March 31: Moily
Posted Date : 13-Feb-2012 , 09:01:15 am | Posted By CASANSAAR
Speaking at a conference on investor awareness and corporate governance organised by the Udupi unit of Chartered Accountants of India at MGM College on Sunday, he said the policy would provide a conducive atmosphere for the investors and would generate employment. He said India would emerge as ...
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Corporate Law |
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Rs 2,000 crore transactions under I-T scanner
Posted Date : 13-Feb-2012 , 08:59:01 am | Posted By CASANSAAR
In a major crackdown, the Income Tax department has under its scanner more than 22 crore instances of High Value transactions in the country and abroad which include unreported credit card operations and deals in real estate. The department has obtained, through its data mining and intelligence t...
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Income Tax |
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Budget 2012: Tax deduction on home loans may be raised to Rs 3 lakh
Posted Date : 13-Feb-2012 , 08:56:22 am | Posted By CASANSAAR
In a bid to boost housing sector credit, the government is contemplating to enhance income tax exemption for up to Rs 3 lakh paid as interest on housing loans in a year, from the existing limit of Rs 1.5 lakh.
The government is considering to raise the tax deduction limit for housing loan in the ...
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Income Tax |
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New President & Vice-President of ICAI
Posted Date : 12-Feb-2012 , 03:10:59 pm | Posted By CASANSAAR
CASANSAAR Team Congrats New President & Vice-President of ICAI
CA. Jaydeep Narendra ShahPresident, ICAI
CA. Subodh Kumar AgrawalVice-President, ICAI
...
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ICAI |
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SC pulls up SEBI for leaking Sahara Group's proposal to media
Posted Date : 12-Feb-2012 , 12:16:48 pm | Posted By CASANSAAR
The Supreme Court has pulled up market regulator SEBI for leaking to media details of the proposal of Sahara Group's list of property sent to it as a guarantee to ensure that interest of investors are protected.
The apex court said it was 'distressed' that the proposal sent by Sahara's counsel to...
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SEBI |
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Google, Yahoo! under fire; Enforcement Directorate to probe forex law violation
Posted Date : 12-Feb-2012 , 12:15:53 pm | Posted By CASANSAAR
Internet search giants Google and Yahoo! are being investigated for possible violations of the country's foreign exchange law, a government official said, intensifying pressure on them as they wage a legal battle over screening of 'objectionable' content on their websites.
The Enforcement Dire...
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General |
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November 2011 Examination CA PCC, IPCC Pass Percentage
Posted Date : 11-Feb-2012 , 09:56:07 pm | Posted By CASANSAAR
The results of the Chartered Accountants IPCCExamination held in November 2011 was declared recently. The details of percentage of candidates passed in the above said examinations are given below; &nb...
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Students Zone |
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Govt approved 20 foreign direct investment of Rs 1,034 crore
Posted Date : 11-Feb-2012 , 09:25:24 pm | Posted By CASANSAAR
The Government today approved 20 foreign direct investment proposals amounting to around Rs 1,034 crore. The proposals were cleared following recommendations of the Foreign Investment Promotion Board.According to the Ministry of Finance release, the Government cleared Singapore-based Fluke South Eas...
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Finance |
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Discontinuation of Despatch of Admit Cards in physical form - ICAI
Posted Date : 10-Feb-2012 , 10:51:49 am | Posted By CASANSAAR
Candidates may please note that dispatch of Physical Admit Cards is being discontinued with effect from MAY 2012 exam onwards.
Admit Cards will be hosted on the website www.icai.nic. in normally 21 days prior to the commencement of the examination.
...
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Students Zone |
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2G case: Chartered Accountant resiling from statement to save RADAG officials, says CBI
Posted Date : 10-Feb-2012 , 07:48:50 am | Posted By CASANSAAR
A prosecution witness in 2G spectrum case was today accused by CBI in a Delhi court of resiling from his statement to save the three Reliance ADA Group officials who are facing trial in the case. Nilesh Doshi, a chartered accountant, was accused by CBI of making a "false statement" as a witness ...
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GST |
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Budget 2012: House panel for raising income tax exemption limit to Rs 3 lakh
Posted Date : 10-Feb-2012 , 07:44:36 am | Posted By CASANSAAR
A key Parliamentary Committee will adopt tomorrow the crucial report on Direct Taxes Code (DTC) Bill and recommend raising the income tax exemption limit to Rs 3 lakh from Rs 1.8 lakh at present. The Standing Committee on Finance, headed by former Finance Minister and senior BJP leader Yashw...
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Income Tax |
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