RBI raises Foreign Currency Convertible Bonds limit to $750 mn
Posted Date : 06-Jan-2012 , 08:29:51 am | Posted By CASANSAAR
RBI raised the annual limit of Foreign Currency Convertible Bonds (FCCBs) for companies to USD 750 million under the automatic route, which does not require prior permission from it. The limit, up from USD 500 million in a fiscal year, will not only help Indian corporate across all segments...
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RBI |
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ED approaches IT dept over secret LGT bank accounts
Posted Date : 06-Jan-2012 , 08:25:18 am | Posted By CASANSAAR
Stepping up its offensive against Indians whose names figured in secret LGT Bank accounts abroad, the Enforcement Directorate (ED) has approached the Income Tax department to provide it with I-T returns and other financial statements of these entities.
Th...
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Income Tax |
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Meeting cos’ forex obligations key: RBI
Posted Date : 06-Jan-2012 , 08:18:42 am | Posted By CASANSAAR
Reserve Bank of India (RBI) deputy governor Subir Gokarn on Thursday said it was important to ensure that companies could meet their forex obligations. From a policy perspective, he stressed that liquidity rather than cost was the issue.
“We are looking at ways to make sure the flow...
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RBI |
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Income Tax Arrear Letter from CPC Bangalore just a communication of demand not a demand notice
Posted Date : 05-Jan-2012 , 09:46:51 pm | Posted By CASANSAAR
It has been reported in some sections of the press that the Central Processing Centre , Bangalore is sending notices for payment of taxes which are as small as Rs. 1/- , 4/- , 6/-, causing unnecessary hardship to as...
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Income Tax |
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Kingfisher is an NPA: SBI chief Pratip Chaudhuri
Posted Date : 05-Jan-2012 , 09:12:21 pm | Posted By CASANSAAR
Country's largest lender State bank of India has said that its exposure to the ailing airline Kingfisher has become a bad loan, or in banking parlance a non performing asset. "Kingfisher has been unable to pay their dues. And since December 31 it has become a NPA," said SBI's chairman Pratip Chau...
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Banking |
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General Amnesty Scheme for Retrospective Restoration of Membership - ICAI
Posted Date : 05-Jan-2012 , 06:27:07 pm | Posted By CASANSAAR
GENERAL AMNESTY FOR RETROSPECTIVE RESTORATION OF NAMES FROM REGISTER OF MEMBERS AND CERTIFICATE OF PRACTICE - ICAI.
With a view to mitigating the hardships being faced by such members whose names stand removed as on date due to non-payment of membership fee, the Council ha...
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ICAI |
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SEBI launches India’s first KYC Registration Agency
Posted Date : 05-Jan-2012 , 03:18:40 pm | Posted By CASANSAAR
Capital markets regulator Securities and Exchange Board of India, SEBI, has launched India’s first Know Your Customer Registration Agency - KRA.SEBI’s Chairman, Mr. U.K. Sinha launched the service at Bombay Stock Exchange on Wednesday.Talking about the KRA service, Mr. Sinha said that he...
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SEBI |
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Budget after March 9, dates not finalised: Pranab Mukherjee
Posted Date : 05-Jan-2012 , 08:28:55 am | Posted By CASANSAAR
The union budget for 2012-13 would be presented after March 9 following the state assembly elections but no dates have been finalised, Finance Minister Pranab Mukherjee said Wednesday. "We are working out the dates. We will present the budget after assembly election is over. (The model) c...
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Income Tax |
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Kingfisher Airlines mulls 2,000 job cuts, longer work-hours
Posted Date : 05-Jan-2012 , 08:22:28 am | Posted By CASANSAAR
In a major cost-cutting exercise, private sector air-carrier Kingfisher Airlines is believed to be considering about 2,000 job cuts and longer working hours for its staff, among various options. While e-mailed queries sent to Kingfisher Airlines in this regard remained unanswered, industry ...
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General |
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Growth in direct tax collections drops to 8.3 per cent
Posted Date : 05-Jan-2012 , 08:15:12 am | Posted By CASANSAAR
India's annual growth in net direct tax collections slowed to 8.3% in the first nine months of the fiscal, deepening concerns that the government will miss its revenue targets. Net direct tax collections had grown at 9% between April and November. Data released by the Central Board of Direct Taxe...
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Income Tax |
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SEBI's new move will help the government, promoters and investors
Posted Date : 05-Jan-2012 , 08:13:34 am | Posted By CASANSAAR
The Securities and Exchange Board of India's (Sebi) announcement of an institutional placement programme (IPP) and offer of sale of shares through the stock exchange kills two birds with one stone. The announcement makes it easier for government to sell up to 10% of its stake in listed public sec...
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SEBI |
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Govt approves filling up of backlog vacancies in SC/ST categories
Posted Date : 05-Jan-2012 , 08:10:10 am | Posted By CASANSAAR
The Union Cabinet on Wednesday cleared a proposal to fill pending vacancies under the Scheduled Caste and Scheduled Tribes in the Central government. This move will benefit around 50,000 people. The proposal comes soon after the government decision to allow 4.5 percent reservation to the minorities ...
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General |
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CBI arrests Vijay Sai Reddy, Auditor of Y S jagan in the amassing wealth case
Posted Date : 04-Jan-2012 , 06:38:28 pm | Posted By CASANSAAR
The CBI investigating into the illegal amassing of wealth by Y S R Congress president Y S Jaganmohan Reddy today arrested the Vijay Sai Reddy, auditor of Jagati Publication the flagship of Sakshi newspaper and TV channel.
The arrest in the sensational CBI probe against the Kadapa MP and s...
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Income Tax |
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Extension of Common Proficiency Course (CPC) registration date upto 5th April, 2012
Posted Date : 04-Jan-2012 , 06:27:01 pm | Posted By CASANSAAR
Important Announcement
BoS/Announcement/227/12 ...
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Students Zone |
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Post office savings scheme interest rates not floating: FinMin
Posted Date : 04-Jan-2012 , 04:33:03 pm | Posted By CASANSAAR
The government today said interest rates on post office savings schemes, except the PPF, will remain fixed throughout the term of the scheme. It clarified that interest rate for such small savings will be declared on April 1 every year and will remain valid till the maturity of the scheme.
...
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Finance |
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Cabinet makes hallmarking gold jewellery mandatory: Minister
Posted Date : 04-Jan-2012 , 02:00:18 pm | Posted By CASANSAAR
The government has made hallmarking gold jewellery for quality control mandatory, a senior government minister said. India is the world's biggest consumer of gold but quality is sometimes a problem, especially when small jewellers and customers face problems during redemption. At present, abo...
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General |
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HC rejects DLF plea against SEBI probe, imposes Rs 2 lakh cost
Posted Date : 04-Jan-2012 , 08:38:10 am | Posted By CASANSAAR
The Delhi High Court on Tuesday imposed a cost of Rs 2 lakh on realty major DLF while dismissing its plea against market regulator SEBI's order to probe an allegation that it duped a city-based businessman of Rs 34 crore in collusion with its associate firm Sudipti Estates.
Justice Vipin ...
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SEBI |
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Companies Bill may be cleared in Budget session: Veerappa Moily
Posted Date : 04-Jan-2012 , 08:34:06 am | Posted By CASANSAAR
Corporate Affairs Minister Veerappa Moily today said the Companies Bill is expected to be cleared in the forthcoming Budget Session despite its withdrawl after being tabled in the winter session. "Yes, it is likely to be tabled in the Budget session of Parliament," Moily said when asked about t...
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Corporate Law |
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Online service tax refund of tax on 18 services
Posted Date : 04-Jan-2012 , 08:31:55 am | Posted By CASANSAAR
As exports face adverse conditions amid a slowdown in growth, the government today came out with a mechanism to provide online refunds of tax paid on 18 services used beyond factory gate for outbound shipment of goods. Upbeat exporters exuded confidence that they can tackle the difficult situation...
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Service Tax |
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File validation Utility (FVU) version 3.3 for FY 2010-11 onwards and version 2.131 for upto FY 2009-10 released
Posted Date : 04-Jan-2012 , 08:28:21 am | Posted By CASANSAAR
FVU 3.3 will be applicable for quarterly TDS/TCS statements pertaining to FY 2010-11 onwards
Mandatory to quote Book Identification Number – BIN (in case of regular statement) for tax deposited by book entry (transfer voucher – applicable only in...
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Income Tax |
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SB a/c number portability on anvil: FinMin
Posted Date : 03-Jan-2012 , 09:35:09 pm | Posted By CASANSAAR
The Finance Ministry is working on savings banks account number portability, which will allow a customer to retain his account number while changing his bank.
"We want to do it [savings a/c number portability]. Right now there are some technical problems...We have identified them. We will...
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Banking |
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Employment increases by over 3% in quarter ending Sep
Posted Date : 03-Jan-2012 , 09:27:39 pm | Posted By CASANSAAR
Employment in the country has increased by over three per cent in the quarter ending September. According to the twelfth quick employment survey of the Labour and Employment Ministry, job generation has increased in respect of all sectors except Leather and Transport where there was a marginal fall....
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Income Tax |
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Foreign individuals can invest in public issues
Posted Date : 03-Jan-2012 , 02:13:40 pm | Posted By CASANSAAR
A foreign Individual, a foreign pension fund or even a foreign trust can invest in initial public offerings (IPOs) or follow-on public offers (FPOs) of Indian companies.
The Government on Monday clarified that such ‘qualified foreign investors' (QFIs) will be allowed to invest in public off...
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Shares & Stock |
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Money seized in I-T searches can be set off against advance tax
Posted Date : 03-Jan-2012 , 08:59:47 am | Posted By CASANSAAR
The ruling relates to a case involving Ram S Sarda, from whose premises cash was seized by the Income-tax officials after a search. Subsequently, the taxpayer requested the income-tax department to treat the seized cash as payment of advance tax. The department ignored this and levied interest u...
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Income Tax |
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0 | Hits : 476
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Sebi, RBI work on QFI nitty-gritty
Posted Date : 03-Jan-2012 , 08:53:59 am | Posted By CASANSAAR
Market regulator Sebi and banking watchdog RBI are working out the nitty-gritty of the likely entry of qualified foreign investors (QFIs) into India so that the just-announced scheme for other nationals besides pension funds and similar entities from abroad could be operationalised by January 15.
...
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SEBI |
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PFC's Rs 5,000-cr tax-free Bonds
Posted Date : 03-Jan-2012 , 08:47:53 am | Posted By CASANSAAR
Power Finance Corporation (PFC) has come out with a Rs 5,000-crore tax-free bond issue. PFC is a Navratna Government of India undertaking with the government holding 73.72% stake in it. Allotment will be made on a first-come-first-serve basis and the issue closes on January 16. The Product There...
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Finance |
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Banks revise FCNR(B) deposit rates
Posted Date : 03-Jan-2012 , 08:44:47 am | Posted By CASANSAAR
As part of their efforts to raise more foreign currency resources from Indians abroad, commercial banks have revised rates on dollar- and pound sterling-denominated term foreign currency deposits for some maturities.
The revision is based on the assessment of liquidity, asset liability an...
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Banking |
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RBI governor D Subbarao hints at soft monetary policy
Posted Date : 02-Jan-2012 , 08:27:55 pm | Posted By CASANSAAR
Concerned over the declining growth, Reserve Bank Governor D Subbarao has indicated that the central bank could reverse the tight monetary stance adopted by it since March 2010 to tame inflation. "From here on we could expect reversal of monetary tightening," Subbarao told the BBC in an interview...
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RBI |
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Union Budget to be presented after elections in five states
Posted Date : 02-Jan-2012 , 05:22:24 pm | Posted By CASANSAAR
The Union Budget will be presented after the completion of elections in five states.The Finance Minister Pranab Mukherjee today said in New Delhi that final dates will be announced after due consultations.He was replying to a query on the likely date for presentation of the Budget.The general budget...
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Finance |
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Falling rupee: Ministry breather for companies with forex debt
Posted Date : 02-Jan-2012 , 09:09:24 am | Posted By CASANSAAR
Needn’t show MTM losses on some counts till decade-end; many may choose to write back Sept losses.
Friday’s accounting rule relaxation order from the Union ministry of corporate affairs should again lift the shares of companies that had taken a beating due to high foreign exch...
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Corporate Law |
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