Audit firms like E&Y, PwC and Protiviti Consulting ramp up hiring for internal audit and risk advisory functions
Posted Date : 12-Jun-2012 , 07:12:00 am | Posted By CASANSAAR
Rising governance issues in companies and increasing corporate frauds have led to a surge in demand for talent in the internal audit arm of audit firms and companies. Audit firms like Ernst & Young,PricewaterhouseCoopers (PwC) and Protiviti Consulting are ramping up hiring fo...
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Auditing |
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Direct Tax Code Bill likely to be tabled in monsoon session: Pranab
Posted Date : 12-Jun-2012 , 07:03:26 am | Posted By CASANSAAR
India hopes to introduce a bill for a direct tax code (DTC) during the monsoon session of Parliament, finance minister Pranab Mukherjee said on Monday.The monsoon session usually runs from July to August. The code, which will replace the existing Indian Income Tax Act 1961, inten...
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Income Tax |
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0 | Hits : 792
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Indirect tax collections rise 16.1% to Rs 37,166 crore in May
Posted Date : 11-Jun-2012 , 10:09:28 pm | Posted By CASANSAAR
Indirect tax collections have increased by 16.1 per cent to Rs 37,166 crore in May on the back of rise in excise duty and service tax rates. The overall growth in indirect tax revenue collection during the month of May, 2012, is about 16.1 per cent which is 5.7 per cent high...
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Excise |
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0 | Hits : 837
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LLP Registry is Now Merged with MCA-21 and Decentralization of LLP Approval to Various ROCs
Posted Date : 11-Jun-2012 , 10:05:33 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs, has achieved a new milestone by integrating e-Governance project for Limited Liability Partnership (LLP) under the platform of MCA21. This initiative has been taken on the advice of Union Corporate Affairs Minster Dr. M.Veerappa Moily. This will result in prov...
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Corporate Law |
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0 | Hits : 992
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ICAI: CPT EXAM CENTRE CHANGE
Posted Date : 11-Jun-2012 , 04:51:05 pm | Posted By CASANSAAR
Important Announcement - CPT June 2012 Examination. - (11-06-2012) IMPORTANT ANNOUNCEMENT No. 13-CA(Exams)/CPT/June 2012/ June 11, 2012.
Due to unavoidable circumstances, the examination Centre of 200 candidates bearing Roll No. from 218290 to 218489 for CPT (Common Proficiency Test - Exami...
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ICAI |
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MCA: Introducing Limited Liability Partnership (LLP) Registration through Electronic Mode (E-Filing).
Posted Date : 11-Jun-2012 , 01:00:46 pm | Posted By CASANSAAR
Introducing Limited Liability Partnership (LLP) Registration through Electronic Mode (E-Filing).
A. LLP REGISTRY PROCESS FOR NEW UNITS
1. LLP registration process has been upgraded and aligned with MCA Portal 21. 2. Ministry has since decentralized this process. Hencefo...
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Corporate Law |
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1 | Hits : 1343
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NPA detail of Banks in Last Three Year
Posted Date : 11-Jun-2012 , 08:36:08 am | Posted By CASANSAAR
Finance ministry concerned over rising bad loans and wants a variety of actions to check these; Pranab to meet financial institutions’ chiefs on Tuesday to discuss the issue
Concerned at the spurt in bad loans of public sector banks (PSBs), the Union finance ministry has asked them to...
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Banking |
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ICAI plans 100-150 CMA support centres across country
Posted Date : 11-Jun-2012 , 08:29:37 am | Posted By CASANSAAR
The Institute of Cost Accountant Of India (ICAI) has drawn up plans to set up 100-150 CMA support centres across the country.
"We have decided to set up 100-150 CMA Support Centres in a year and the first will be in Gulbarga in Jammu & Kashmir," ICAI central council member Manas Kumar ...
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ICWAI |
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Mahindra Satyam shareholders approve merger with Tech Mahindra
Posted Date : 10-Jun-2012 , 09:46:35 pm | Posted By CASANSAAR
Mahindra Satyam today said its shareholders have approved the merger of the firm with its parent company Tech Mahindra. "The shareholders of both Tech Mahindra and Mahindra Satyam have unanimously approved the scheme of amalgamation and merger of Satyam Computer Services Ltd...
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Merger & Acquisitions |
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Tax fears make overseas investors pull out Rs 1 trillion from India
Posted Date : 10-Jun-2012 , 09:43:20 pm | Posted By CASANSAAR
Rich overseas entities, investing in Indian markets through 'participatory notes' (P-notes/PNs), are estimated to have pulled out over Rs 1 lakh crore (about USD 20 billion) in less than three months on fears of getting caught in the government's taxation net and its black money trail. As a res...
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International Business |
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RBI nods to much frequent NRI remittance
Posted Date : 10-Jun-2012 , 08:06:05 am | Posted By CASANSAAR
The Reserve bank of India (RBI) has permitted NRIs to send remittances more frequently. According to a latest RBI circular released on Friday, resident Indians are now allowed to receive as many as 30 remittances from NRI friends and relatives during a year as against 12 earlier.In the circular addr...
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RBI |
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Kolkata bench of ITAT allows Rajarani Exports to claim benefit for bribe
Posted Date : 09-Jun-2012 , 07:48:24 am | Posted By CASANSAAR
Debunking a norm that income-tax laws in India strictly prohibit any allowance to illegal payments, including kickbacks, a Kolkata bench of the Income-Tax Appellate Tribunal (ITAT) has allowed deduction for illegal kickbacks paid by an Indian company to authorities in Iraq, on the ground t...
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Income Tax |
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0 | Hits : 1138
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States reject proposal for uniform accounting
Posted Date : 09-Jun-2012 , 06:52:57 am | Posted By CASANSAAR
Most state governments have rejected the Union Human Resource Development (HRD) Ministry proposal to adopt a uniform accounting standard in schools and institutes of higher learning, both government and privately run, in order to ensure greater transparency.The proposal was made at a recent meeting ...
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ICAI |
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0 | Hits : 842
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Tax department
Posted Date : 09-Jun-2012 , 06:46:22 am | Posted By CASANSAAR
After a rush to retrospectively amend the I-T Act, tax authorities are going slow on raising a fresh demand on Vodafone as the government weighs the possible implications on the arbitration proceedings demanded by the British telecom giant. "We are moving cautiously," confirmed a senior governm...
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Category :
Income Tax |
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0 | Hits : 782
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SEBI expresses urgent need to revive investor sentiment, faltering growth
Posted Date : 09-Jun-2012 , 06:42:39 am | Posted By CASANSAAR
Market regulator Securities and Exchange Board of India - SEBI has expressed an urgent need to revive investor sentiment and faltering growth. Addressing the Skoch summit in Mumbai today, SEBI Chairman, Upendra Kumar Sinha said that the government should accelerate work on some of the urgent reform ...
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SEBI |
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RBI cuts RTGS deals threshold to Rs 1 lakh
Posted Date : 08-Jun-2012 , 05:50:46 pm | Posted By CASANSAAR
The Reserve Bank today said it has cut down the threshold limit in Real Time Gross Settlement System transactions to Rs 1 lakh from existing Rs 2 lakh until June 9, 2012 due to some technical issues.
"To ensure that customers were not unduly inconvenienced, the Reserve Bank temporarily bro...
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Finance |
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0 | Hits : 1440
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Service tax on railway freight from July 1
Posted Date : 08-Jun-2012 , 07:33:27 am | Posted By CASANSAAR
Close on the heels of railways increasing parcel rates by 25 per cent, the freight charges will go up by about 3.6 per cent from July 1 with imposition of service tax.
"The government had given service tax exemption on goods carried by railways till June 30, 2012. From July 1 using railways...
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Category :
Service Tax |
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0 | Hits : 1416
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RBI cancels Madhavpura bank licence; liquidator to be appointed
Posted Date : 08-Jun-2012 , 07:27:56 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) cancelled the licence of Madhavpura Mercantile Cooperative Bank (MMCB), bringing to an end its controversy-ridden 18-year operation as a multi-state cooperative bank.
In 2001, the bank faced a run on deposits following its alleged exposure to stock ...
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Category :
Banking |
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0 | Hits : 869
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Guidelines for Conversion Of CA Firms into LLPs
Posted Date : 08-Jun-2012 , 07:25:05 am | Posted By CASANSAAR
ICAI COUNCIL GUIDELINES FOR CONVERSION OF CA FIRMS INTO LLPS
(Guidelines No.1-CA (7)/03/2011, dated 4th November, 2011)
In terms of the Council decision dated 14 July, 2011, following guidelines for conversion of CA firms into LLPs and constitution of separate LLPs by the practicing Chartered Acco...
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ICAI |
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0 | Hits : 1395
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Change in Tariff Value of Gold Notified
Posted Date : 07-Jun-2012 , 09:11:32 pm | Posted By CASANSAAR
The Central Board of Excise and Customs (CBEC), Department of Revenue, Ministry of Finance has issued a Notification No. 48/2012-CUSTOMS (N. T.) dated June 07, 2012 and thereby notifying change in tariff value of Gold as shown in the tables below:
...
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Category :
Excise |
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0 | Hits : 839
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An appeal from President of ICSI
Posted Date : 07-Jun-2012 , 03:53:19 pm | Posted By CASANSAAR
An appeal from President of ICSI...Kindly Click the Link to see the information...
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Category :
ICSI |
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0 | Hits : 1162
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Govt approves Rs 632 cr capital infusion in regional rural banks
Posted Date : 07-Jun-2012 , 01:57:39 pm | Posted By CASANSAAR
Union Cabinet has approved capital infusion of 632 crore rupees in some Regional Rural Banks to improve their capital to risk waited assets ratio. The Cabinet approved 50 percent share of the Central government and also decided to extend the scheme of capitalization of weak Regional Rural Banks by a...
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Category :
Banking |
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Negative list of Services applicable w.e.f. 01.07.2012
Posted Date : 07-Jun-2012 , 07:52:11 am | Posted By CASANSAAR
(a) Services by Government or a local authority excluding the following services to the extent they are not covered elsewhere:
(i) services by the Department of Posts by way of speed post, express parcel post, life insurance and agency services provided to a person other...
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Category :
Service Tax |
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1 | Hits : 3379
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I-T dept, ICAI start probe into Reebok case
Posted Date : 07-Jun-2012 , 07:47:35 am | Posted By CASANSAAR
Accounting regulator Institute of Chartered Accountants of India (ICAI) has asked Reebok India’s auditor N Narasimhan & Co, and its former chief operating officer Vishnu Bhagat, one of the accused in the alleged Rs 870-crore fraud case, for various details such as whether the company has a...
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ICAI |
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0 | Hits : 1100
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All rural branches of banks to impart financial literacy: RBI
Posted Date : 07-Jun-2012 , 07:43:08 am | Posted By CASANSAAR
The Reserve Bank Wednesday said all rural branches of banks will have to impart financial literacy.This move comes after the central bank found Financial Literacy and Credit Counselling Centres (FLCC) were located in the urban and semi-urban areas."Banks may consider setting up need based FLCs in ot...
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Category :
Banking |
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0 | Hits : 948
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Income Tax bribery case: Top IRS officer under scrutiny
Posted Date : 07-Jun-2012 , 07:41:14 am | Posted By CASANSAAR
Another top official has come under scrutiny in Kanpur's alleged bribery case, in which top Income Tax officials were arrested. Sources say the Central Bureau of Investigation (CBI) will soon be interrogating top IRS official SS Bajpayee. He is the Director General for Investigations in UP and Uttar...
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Income Tax |
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0 | Hits : 913
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V. S. Sampath is new Chief Election Commissioner
Posted Date : 07-Jun-2012 , 07:33:07 am | Posted By CASANSAAR
Election Commissioner V S Sampath was on Wednesday appointed the new Chief Election Commissioner who will preside over the next Lok Sabha general elections in 2014. 62-year-old Sampath will take over as CEC after incumbent S Y Quraishi demits office on June 10. Our correspondent reports, President P...
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Category :
General |
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Direct Tax Collections During Financial Year 2011-12 Up by 13.02 Percent at Rs. 5,90,077 Crore as Against Rs 5,22,104 Crore During Financial Year 2010-11
Posted Date : 06-Jun-2012 , 08:34:45 pm | Posted By CASANSAAR
Gross direct tax collections during April-March of the F.Y. 2011-12 was up by 13.02 percent and stood at Rs.5,90,077 crore as against Rs.5,22,104 crore in the same period in F.Y.2010-11. While gross collection of corporate taxes was up by 11.52 percent. The gross collections on this account stood at...
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Category :
Income Tax |
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0 | Hits : 679
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All services except 17 in the negative list, will be taxed from July 1
Posted Date : 06-Jun-2012 , 06:12:47 pm | Posted By CASANSAAR
All services except 17 in the negative list, will be taxed from July 1, the Finance Ministry has said. Under the 'negative list' approach, services specified in the list will remain outside the tax net.
The government has widened the definition of 'Services' to bring in more activities under the ta...
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Category :
Service Tax |
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0 | Hits : 1997
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Govt offers sops to boost exports
Posted Date : 06-Jun-2012 , 02:08:25 pm | Posted By CASANSAAR
The government on Tuesday unveiled a sevenpronged strategy, including subsidized loans and other sops, to boost exports, which are expected to rise a minimum 20% during the current financial year.
While retaining its focus on boosting exports to nontraditional markets in Latin America and Af...
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General |
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