Govt. notifies 100% FDI in single brand retail
Posted Date : 10-Jan-2012 , 09:40:11 pm | Posted By CASANSAAR
Hundred per cent foreign direct investment in single brand retail has been allowed and it has been made operational with immediate effect. The Commerce Ministry on Tuesday issued a notification to this effect. According to the Ministry press release, this step is aimed at attracting more foreig...
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Finance |
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Price Waterhouse files suit against Ramalinga Raju
Posted Date : 10-Jan-2012 , 03:44:48 pm | Posted By CASANSAAR
A day after Tech Mahindra-acquired Satyam filed a suit against its former Board of Directors, certain employees and Price Waterhouse seeking damages for perpetrating a fraud three years ago, PW officials revealed that they have already filed a similar suit in a Andhra Pradesh court against the sof...
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Auditing |
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Government clears 20 FDI proposals worth Rs 1,935 crore
Posted Date : 10-Jan-2012 , 01:48:22 pm | Posted By CASANSAAR
The government on Tuesday approved 20 foreign direct investment proposals, including that of Sterlite Grid, Equitas Micro Finance and TV Vision, envisaging total investment of Rs 1,935.24 crore. The proposals were cleared following recommendations of the Foreign Investment...
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Finance |
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RBI for greater role of CAs in ensuring solvency of banks
Posted Date : 10-Jan-2012 , 09:22:51 am | Posted By CASANSAAR
Seeking to enhance role of auditors in ensuring solvency of banks, the Reserve Bank of India wants chartered accountants to ask pointed questions concerning risk assessment and capital adequacy of lenders. "Auditors will need to move beyond narrow transactions audit consideration to look at t...
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RBI |
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ICAI charges Vadlamani, Srinivas of misconduct
Posted Date : 10-Jan-2012 , 09:17:23 am | Posted By CASANSAAR
Three years after the multicrore Satyam accounting fraud came to light, the Institute of Chartered Accountants of India on Thursday found the chief financial officer of the erstwhile Satyam Computer Services Ltd guilty of professional misconduct.
The ICAI also found Talluri Srinivas, partne...
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ICAI |
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States' Finance Ministers assent to idea of ‘negative list of services’
Posted Date : 10-Jan-2012 , 09:13:57 am | Posted By CASANSAAR
The Empowered Committee of States' Finance Ministers has in-principle given its assent to the idea of a negative list of services mooted by the Centre.The negative list of services includes those services which will not come in the ambit of taxation. AIR correspondent reports that the committee has ...
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Service Tax |
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ICAI Convocation (II) - 2011
Posted Date : 09-Jan-2012 , 08:35:55 pm | Posted By CASANSAAR
The Convocation for the newly enrolled Members admitted during the period April, 2011 to August, 2011 will be held as per schedule given below with a view to inculcate a sense of belongingness and attachment with the Institute.
Region
Date
Place
Venue
Timing
Northern
1...
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ICAI |
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Satyam sues former Board of Directors, certain employees, Price Waterhouse
Posted Date : 09-Jan-2012 , 07:39:00 pm | Posted By CASANSAAR
Satyam Computer Services on Monday said it has filed a suit in a Hyderabad court against its former Board of Directors, certain employees and the company's audit firm Price Waterhouse seeking damages for perpetrating fraud. "The company filed a suit in the City Civil Court, Hyderabad, against ...
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General |
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Notification - ICAI May 2012 Examination
Posted Date : 09-Jan-2012 , 06:34:54 pm | Posted By CASANSAAR
No. 13-CA (EXAM)/M/2012: In pursuance of Regulation 22 of the Chartered Accountants Regulations, 1988, the Council of the Institute of Chartered Accountants of India is pleased to notify that the Professional Competence Examination (PCE), Integrated Professional Competence Examination&nb...
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Students Zone |
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Get ready for higher professional tax as states plan revision
Posted Date : 09-Jan-2012 , 09:12:10 am | Posted By CASANSAAR
Chartered accountants, lawyers and other professionals may have to shell out more money as state governments are contemplatingraising the incidence of professional tax, reports PTI.
The issue of raising the&nbs...
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General |
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Pranab calls upon NRIs to invest more in India
Posted Date : 09-Jan-2012 , 09:00:32 am | Posted By CASANSAAR
Finance Minister Pranab Mukherjee has called upon Non Resident Indians to invest more in India.Addressing the Pravasi Bhartiya Divas in Jaipur yesteray, he said though there have been large ticket investments by the diaspora, it is much less than the potential. Mr Mukherjee said, to achieve this, an...
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International Business |
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State Finance Ministers to discuss GST today
Posted Date : 09-Jan-2012 , 08:59:13 am | Posted By CASANSAAR
The first meeting of the Empowered Committee (EC) of Finance Ministers of States on the Goods and Services Tax (GST) will begin here on Monday. The two-day meet will be presided over by Bihar Deputy Chief Minister and Chairman of the EC Sushil Modi.
On January 9 and 10, Finance Ministers of 11 St...
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GST |
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Sebi slaps Rs 60-Lakh fine on senior Jaiprakash Associates executives for 'insider trading'
Posted Date : 09-Jan-2012 , 08:57:26 am | Posted By CASANSAAR
Capital market regulator Sebi has pulled up Jaiprakash Associates chairman Manoj Gaur, his wife Urvashi Gaur, brother Sameer Gaur, S D Nailwal, wholetime director of the company, and Harish K Vaid, senior president corporate affairs and company secretary, for alleged insider trading in the co...
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SEBI |
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Black money: I-T dept wants signed undertaking
Posted Date : 09-Jan-2012 , 08:52:24 am | Posted By CASANSAAR
In order to guard against possible leakage of names figuring in the secret bank accounts lists it has received from foreign shores, the CBDT has ordered the I-T department to obtain a signed undertaking from any government entity or department who demands the data for their own probe.
The Central...
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Income Tax |
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PM announces new pension scheme for overseas Indians
Posted Date : 09-Jan-2012 , 08:47:15 am | Posted By CASANSAAR
Fulfilling a long-standing demand, Prime Minister Manmohan Singh today announced a new pension and life insurance scheme for overseas Indian workers that would allow over five million workers, especially those working in the Gulf, to save money for the future. Announcing the Government's decisio...
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International Business |
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CA Institute inks pact with UK accountancy body
Posted Date : 08-Jan-2012 , 08:03:27 am | Posted By CASANSAAR
The CA Institute has signed a memorandum of understanding with the Association of International Accountants (AIA), a UK-based professional accountancy body, for reciprocal membership arrangement.
This MOU was signed by the President, Institute of Chartered Accountants of India, Mr G. Ramasway, an...
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ICAI |
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Delhi Businessman discloses Rs 73 cr black money stashed abroad
Posted Date : 08-Jan-2012 , 07:57:35 am | Posted By CASANSAAR
In the biggest ever disclosure of black money stashed abroad, a Delhi-based businessman has disclosed and surrendered Rs 73 crores to the Income Tax department and also gave holding details of lockers in Swiss banks and the US.
The disclosure by the ...
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Income Tax |
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PwC fined £1.4 million by regulators
Posted Date : 08-Jan-2012 , 07:50:01 am | Posted By CASANSAAR
Top auditor PricewaterhouseCoopers has been fined a record 1.4 million pounds ($2.2 million) in Britain for wrongly telling local regulators for seven years that JPMorgan Securities was keeping client money safe.
The case brought by the&nbs...
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Auditing |
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RBI cautions investors against illegal finance companies
Posted Date : 08-Jan-2012 , 07:43:55 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) Saturday asked people not to deposit their hard earned money in unauthorised non-banking financial companies (NBFCs) and institutions in the hope of getting hefty returns. "Please do not fall into the trap of hefty returns in quick succession," said RBI executive d...
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RBI |
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More trouble for Vijay Sai from ICAI?
Posted Date : 07-Jan-2012 , 08:31:36 pm | Posted By CASANSAAR
There's more trouble brewing for V Vijay Sai Reddy, who was recently arrested by the CBI, with the Institute of Chartered Accountants of India (ICAI) preparing ground to initiate proceedings against him.
A chartered accountant and founder of audit firm V S Reddy Associates, Vijay Sai is be...
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ICAI |
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Cover all statues of Mayawati, BSP symbol: CEC
Posted Date : 07-Jan-2012 , 07:38:32 pm | Posted By CASANSAAR
The Election Commission today said statues of Chief Minister Mayawati and elephants, BSP's poll symbol, installed at a number of places in Uttar Pradesh would be covered during the state assembly election.
"The Commission has decided that statues of the CM and elephants will be draped," Chief E...
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General |
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Revised draft Bank Branch Auditors’ Panel for the year 2011-12
Posted Date : 07-Jan-2012 , 08:15:44 am | Posted By CASANSAAR
Revised draft Bank Branch Auditors’ Panel for the year 2011-12 has been hosted at www.meficai.org and will be available till 10th January, 2012.
MEF00001 to MEF10000
MEF10001 to MEF20000
MEF20001 to MEF30000
MEF30001 to MEF40000
MEF40001 onwards
&nb...
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Auditing |
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Union Finance Minister, Shri Pranab Mukherjee's speech at ICAI International Conference, Chennai
Posted Date : 06-Jan-2012 , 09:58:26 pm | Posted By CASANSAAR
"The global financial crisis and the current international economic environment has brought into focus significant challenges for governments across the world. India has also been impacted and continues to face challenges on several fronts. Yet, I would say that we have done well in maintaining the ...
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ICAI |
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Govt to notify 100% FDI in single-brand retail soon
Posted Date : 06-Jan-2012 , 09:50:57 pm | Posted By CASANSAAR
The government says it will soon notify 100 per cent foreign direct investment in single-brand retail. Secretary in the Department of Industrial Policy and Promotion (DIPP) P K Chaudhery said this in response of a question about issuance of notification of 100 per cent FDI in single-brand retail.The...
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Finance |
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Fiscal deficit for 2011-12 could be more than projected: Pranab
Posted Date : 06-Jan-2012 , 09:49:25 pm | Posted By CASANSAAR
Finance Minister Pranab Mukherjee today said the fiscal deficit for 2011-12 could be more than the projected figure. He said this while addressing a three-day international conference organised by the Institute of Chartered Accountants of India in Chennai. He added, the euro-zone crisis and slow pro...
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Finance |
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Kingfisher Airlines fails to pay dues by January 6 deadline
Posted Date : 06-Jan-2012 , 09:41:39 pm | Posted By CASANSAAR
Debt-ridden Kingfisher Airlines on Friday failed to pay its service tax dues for December, which could lead to freezing of its bank accounts once again, a senior Finance Ministry official said.
"Kingfisher Airlines paid Rs 10 crore (April-November) arrears. We are still awaiting payment of the De...
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Service Tax |
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Pre-paid mobile users can get bill by paying Rs 50: Trai
Posted Date : 06-Jan-2012 , 07:30:11 pm | Posted By CASANSAAR
In an effort to protect the interests of pre-paid mobile services users, telecom regulator Trai today said they can now get an itemised bill from service providers on request and at a price not exceeding Rs 50. "To ensure that pre-paid consumers get their itemised usage of their account, the ser...
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General |
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Allahabad HC imposes fine of Rs 27.22 lakh on Shanti Bhushan
Posted Date : 06-Jan-2012 , 04:41:39 pm | Posted By CASANSAAR
In a major setback to former union minister Shanti Bhushan, a revenue court on Friday directed him to pay Rs 1.33 crore stamp duty on purchase of property in the prime Civil Lines locality here.
Shanti Bhushan along with his three children were issued a notice earlier this year by the offic...
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General |
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RBI cancels licence of Veershaiva Co-operative Bank
Posted Date : 06-Jan-2012 , 04:35:11 pm | Posted By CASANSAAR
The Reserve Bank has cancelled the licence of city-based Veershaiva Co-operative Bank, as the lender has become insolvent. "In view of the fact that Veershaiva Co-operative Bank Ltd, Mumbai (Maharashtra), had ceased to be solvent... the Reserve Bank of India delivered the order cancelling it...
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RBI |
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Satyam's ex-CFO guilty of professional misconduct: ICAI
Posted Date : 06-Jan-2012 , 08:31:24 am | Posted By CASANSAAR
After two years of investigation, the verdict is in. The Institute of Chartered Accounts of India (ICAI) has found Satyam’s former chief financial officer Srinivas Vadlamani and PWC auditor Srinivas Talluri, who signed the comp...
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ICAI |
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