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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Excise |
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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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ICSI |
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0 | Hits : 1179
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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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Banking |
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0 | Hits : 890
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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 : 3411
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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 : 1203
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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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Banking |
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0 | Hits : 962
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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 : 929
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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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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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Income Tax |
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0 | Hits : 692
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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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Service Tax |
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0 | Hits : 2015
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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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0 | Hits : 788
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Reebok fraud case: Adidas asked to file I-T returns in India
Posted Date : 06-Jun-2012 , 08:21:56 am | Posted By CASANSAAR
Adidas, the German headquartered sports goods maker, has more problems on its hands than tackling the alleged fraud in its Reebok India business.
The international tax division, a wing of the Central Board of Direct Taxes (CBDT), has asked the parent company to file income-tax r...
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Income Tax |
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0 | Hits : 1054
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RBI may slash repo rate by 0.25%: Nomura
Posted Date : 06-Jun-2012 , 08:18:45 am | Posted By CASANSAAR
Global financial services firm Nomura Tuesday said it expects 0.25 percent cut in short term lending rate by the Reserve Bank in its upcoming monetary policy review on June 18."We now expect a 25 basis points repo rate cut on June 18 due to weaker-than-expected real GDP growth of 5.3 percent in Q1 2...
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RBI |
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0 | Hits : 794
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Foreign trade policy: Govt announces steps to raise exports
Posted Date : 05-Jun-2012 , 05:18:40 pm | Posted By CASANSAAR
Faced with uncertain global environment, government on Tuesday announced a slew of measures, including extension of 2 percent interest subsidy by one year, as part of 7-point strategy to achieve 20 percent increase in exports to USD 360 billion in the current fiscal.
Unveiling the ann...
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General |
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0 | Hits : 934
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Change in accounting principles may hit companies' ability to borrow
Posted Date : 05-Jun-2012 , 08:03:13 am | Posted By CASANSAAR
Indian companies, grappling with slowing business environment and deferment of projects, will now have to contend with another challenge from a recent change in accounting principles that will increase their current liabilities and limit ability to borrow. The changes approved by the ...
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Corporate Law |
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0 | Hits : 1107
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Finance ministry to seek feedback on recent QFI relaxations
Posted Date : 05-Jun-2012 , 07:57:45 am | Posted By CASANSAAR
As part of the ongoing efforts to kick-start investments through the qualified foreign investor (QFI) route, the finance ministry has called for a meeting with top foreign institutional investors (FIIs), including Citi, JP Morgan and HSBC.
The meeting, to be held tomorrow, will be chaired b...
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Finance |
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0 | Hits : 832
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Senior income tax official from Kanpur arrested for 25-lakh bribe
Posted Date : 04-Jun-2012 , 07:53:57 pm | Posted By CASANSAAR
One of Kanpur's most senior income tax officers, the Commissioner of Investigations, has been arrested by the CBI. Kunal Singh of the Internal Revenue Service (IRS) was arrested this morning along with three other senior tax officials. They reportedly accepted bribes from the head of a re...
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Category :
Income Tax |
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0 | Hits : 941
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Pranab Mukherjee confident of meeting indirect tax collection target
Posted Date : 04-Jun-2012 , 04:09:10 pm | Posted By CASANSAAR
Patting revenue officials for doing "good job" last fiscal, Finance Minister Pranab Mukherjee on Monday exuded confidence that they will be able to meet indirect tax collection target of Rs5.05 lakh crore for 2012-13.
"They have done good job last year. This year also, I do hope it would be...
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Category :
Excise |
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0 | Hits : 785
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Amount of Reebok fraud appears inflated: SFIO
Posted Date : 04-Jun-2012 , 08:24:21 am | Posted By CASANSAAR
An initial probe by the Serious Fraud Investigation Office (SFIO), the investigative arm of the Ministry of Corporate Affairs, into the Reebok India scam suggested the amount of Rs 870 crore as alleged by the company’s German parent, appeared “exaggerated”.
“We have ...
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Category :
Corporate Law |
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0 | Hits : 959
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FM to Inaugurate Annual Conference of Chief Commissioners and Directors General of Customs, Central Excise and Service Tax Tomorrow
Posted Date : 03-Jun-2012 , 08:43:56 pm | Posted By CASANSAAR
Union Finance Minister, Shri Pranab Mukherjee will inaugurate the All India Annual Conference of the Chief Commissioners and Directors General of Customs, Central Excise and Service Tax here tomorrow. The two- day Conference at Vigyan Bhawan will deliberate in parallel sessions through four bre...
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Category :
Excise |
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0 | Hits : 844
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Gold hits all-time high, zooms past Rs 30,000-level
Posted Date : 03-Jun-2012 , 08:44:03 am | Posted By CASANSAAR
Gold prices on Saturday jumped sharply up to Rs 1,095 per 10 gram crossing the Rs 30,000 per 10 gram level, its all-time high, on account of rise in global prices of precious metal and weakening rupee.
The maximum jump in prices was seen in Chennai, where gold became costlier by Rs 1,095 at...
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Category :
International Business |
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0 | Hits : 832
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Petrol prices slashed by Rs. 2.2 a litre
Posted Date : 03-Jun-2012 , 08:42:23 am | Posted By CASANSAAR
Petrol prices have been cut by 2 rupees and 2 paise a litre. The Petrol in Delhi will now cost 71.16 paise a litre from midnight tonight as against 73.18 paise at present. This includes reduction of taxes also. Minister of state for petroleum and natural gas Mr.R.P.N.Singh said that the decision has...
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Category :
General |
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0 | Hits : 714
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Cost audit reports to come under the ambit of XBRL
Posted Date : 02-Jun-2012 , 07:52:11 am | Posted By CASANSAAR
XBRL is a global standard for easy exchange of business information between different government departments and regulators under which financials are filed in a XBRL syntax as an .xml file instead of uploading the records in .doc or pdf format.
"This is a welcome move by the MCA ...
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Corporate Law |
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0 | Hits : 1047
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No more TDS on locally-made software, assures Finance Minister
Posted Date : 02-Jun-2012 , 07:34:35 am | Posted By CASANSAAR
Sale of locally-made software in the country will no more be subject to tax cuts at various levels, assured the Finance Minister Pranab Mukherjee, on Wednesday, bringing much relief to those associated with the nation’s $5-billion industry, reports The Economic Times.
Reports coming i...
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Category :
Income Tax |
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0 | Hits : 957
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Service tax notice sent to Govt auditor
Posted Date : 02-Jun-2012 , 07:20:26 am | Posted By CASANSAAR
Nagpur's Central Excise and Service Tax Department has sent a notice to government auditor, the Comptroller and Auditor General (CAG), stating that it has not paid its service tax.Inquiries reveal that the CAG received Rs around 3.3 crore from three organisations in Nagpur in the last five years for...
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Category :
Service Tax |
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0 | Hits : 1045
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India Signs Agreement with Bahrain for Exchange of Information with Respect to Taxes
Posted Date : 01-Jun-2012 , 09:26:02 pm | Posted By CASANSAAR
India signed an Agreement with the Government of the Kingdom of Bahrain for the Exchange of Information with respect to taxes (TIEA), here yesterday. The Agreement was signed by Shri Namo Narain Meena, Minister of State for Finance (Expenditure and Financial Affairs) on behalf of Government of India...
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Category :
Income Tax |
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0 | Hits : 820
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UP Budget proposes unemployment allowance, laptops; no new tax
Posted Date : 01-Jun-2012 , 04:06:26 pm | Posted By CASANSAAR
Seeking to fulfil his party's election promises, Uttar Pradesh Chief Minister Akhilesh Yadav today made provisions for unemployment allowance, waving of farm loans and giving laptops to students in his maiden state Budget for 2012-2013.
Amidst walkout by BSP, Yadav presented the Budget sayi...
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Budget |
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Non-Availability of LLP Services for 10 days from 1st June, 2012 - MCA
Posted Date : 01-Jun-2012 , 07:36:41 am | Posted By CASANSAAR
Ministry of Corporate Affairs
Government of India
Dear Corporates,
In Our Continued Endeavor To Enhance The Services To Stakeholders, MCA Announces Launch Of Upgraded LLP Registry From 11th June 2012.
Stakeholders- Will Now Have Facility Of Online Payment From A...
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Category :
Corporate Law |
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0 | Hits : 872
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Reebok case probe widens, KPMG may come under scanner
Posted Date : 01-Jun-2012 , 07:32:22 am | Posted By CASANSAAR
Law enforcement agencies looking into the alleged financial irregularities at the Indian arm of Adidas AG’s Reebok unit are set to widen their probe to include audit firm KPMG India.
Maheshwar Dayal, deputy commissioner of police, Gurgaon (east), and a corporate affairs ministry official with...
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Category :
Corporate Law |
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0 | Hits : 1085
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Banks sharing data with IT dept will help deter tax evasions
Posted Date : 01-Jun-2012 , 07:23:56 am | Posted By CASANSAAR
Banks agreeing to share data with the income tax authorities will help in checking accumulation of black money and keep tax evaders at bay, industry body Assocham said on Thursday."The Indian and the foreign banks operating in the country have agreed to give income tax authorities access to their da...
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Category :
Banking |
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0 | Hits : 1072
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