P-Notes holders not liable to pay tax in India: Pranab
Posted Date : 30-Mar-2012 , 03:03:30 pm | Posted By CASANSAAR
Finance Minister Pranab Mukherjee today said that persons investing in stock markets through participatory notes, P-Notes, will not have to pay taxes in India. The assurance pushed up the stock market today. He told reporters in New Delhi that the Minister said, the income tax department would ...
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Income Tax |
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Google launches 'Account Activity'
Posted Date : 30-Mar-2012 , 07:12:01 am | Posted By CASANSAAR
Search engine Google has launched 'Account Activity' -- a new service that collates activities of users on all Google-owned sites including the popular 'Gmail' and 'YouTube' offerings.
The service would provide information to the users on a monthly basis. "Sometimes it's helpful to step back and ...
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International Business |
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0 | Hits : 947
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Muthoot Fincorp banned from taking deposits
Posted Date : 30-Mar-2012 , 07:09:49 am | Posted By CASANSAAR
The Reserve Bank of India has banned gold finance company Muthoot Fincorp from taking deposits from public, dealing yet another blow to the industry where regulatory attention is intensifying after blistering growth threatened system stability. The lender of money against gold has been, through ...
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Finance |
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0 | Hits : 1002
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BRICS countries sign pacts to initiate trade in local currencies
Posted Date : 30-Mar-2012 , 07:07:20 am | Posted By CASANSAAR
The BRICS countries India, China, Russia, Brazil and South Africa on Thursday signed two agreements to initiate trade in their local currencies . Following the fourth BRICS Summit in New Delhi on Thursday, the five emerging economies also agreed on a joint working group to set up a development bank ...
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International Business |
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0 | Hits : 896
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RBI asks banks to improve NPA management
Posted Date : 29-Mar-2012 , 02:04:45 pm | Posted By CASANSAAR
The Reserve Bank today asked banks to improve their ability to manage stressed assets, but said there was nothing alarming about an unexpected rise in the NPA levels this fiscal. "Concerns (on NPA) are there. Banks have to improve their ability to manage NPAs. We have told banks what is their la...
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Banking |
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0 | Hits : 830
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RBI relaxes various norms on overseas direct investments
Posted Date : 29-Mar-2012 , 01:33:17 pm | Posted By CASANSAAR
The Reserve Bank of India has relaxed various norms on overseas direct investments to offer more flexibility to the Indian companies and individuals. The RBI said in a notification that proposals from the Indian party for creation of charge in the form of pledge or mortgage on the immovable or movab...
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RBI |
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Income Tax department mulling prosecution of HSBC bank in black money cases
Posted Date : 29-Mar-2012 , 08:08:51 am | Posted By CASANSAAR
The Income Tax department is said to be mulling prosecution against the HSBC bank for allegedly being the conduit for Indians in stashing money abroad. The department, which had received more than 700 names in a list of black money account holders in HSBC bank in Geneva reportedly provided b...
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Income Tax |
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0 | Hits : 789
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Foreign funding tougher for retailers; new norm to hinder Indian brands
Posted Date : 29-Mar-2012 , 08:02:11 am | Posted By CASANSAAR
A new norm stipulating that only the 'owner of the brand' can invest in Indian retailers selling goods under a single brand threatens to derail their overseas fund-raising plans. The Foreign Investment Promotion Board, the nodal agency that clears investments entering India, is considering the...
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FEMA |
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0 | Hits : 786
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Centre stays hanging of Balwant Singh Rajoana, assassin of former Punjab Chief Minister Beant Singh.
Posted Date : 28-Mar-2012 , 07:49:08 pm | Posted By CASANSAAR
The Centre on Wednesday stayed the hanging of Balwant Singh Rajoana, assassin of former Punjab Chief Minister Beant Singh, reports said. The Chandigarh trial court on Tuesday had returned the death warrant of Balwant Singh Rajoana, convicted for assassinating former Punjab chief minister Beant ...
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General |
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0 | Hits : 935
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Income Tax department attaches Unitech's shares in Uninor for outstanding tax dues
Posted Date : 28-Mar-2012 , 05:49:14 pm | Posted By CASANSAAR
The IT department has attached the shares of three companies through which realty firm Unitech Ltd holds about 33% stake in mobile phone company Unitech Wireless for alleged outstanding income tax dues.Realty firm Unitech acknowledged the development and clarified that the demand orders we...
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Income Tax |
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0 | Hits : 768
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India not a tax haven: Pranab Mukherjee on Vodafone controversy
Posted Date : 28-Mar-2012 , 06:56:52 am | Posted By CASANSAAR
In a strong message to the critics of the retrospective amendment to the tax laws, Finance Minister Pranab Mukherjee on Tuesday asserted India is not a tax haven.
"India is not a no-tax country, India has a determined tax rate, but it is not a tax haven ... If you pay tax in your country of...
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Category :
Income Tax |
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0 | Hits : 897
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Invite Applications for Visiting/Regular Faculty for Certificate Course in Master in Business Finance (MBFCC)
Posted Date : 27-Mar-2012 , 09:42:32 pm | Posted By CASANSAAR
Invite Applications for Visiting/Regular Faculty for Certificate Course in Master in Business Finance (MBFCC) At New Delhi, Mumbai, Chennai, and Kolkata.
Click Here for Details
www.icai.org...
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Category :
Income Tax |
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0 | Hits : 915
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SBI hikes fixed deposit rates by upto 1%
Posted Date : 27-Mar-2012 , 09:38:13 pm | Posted By CASANSAAR
Country's largest lender SBI today raised fixed deposit rates on select maturities by up to 1 per cent, amid tight liquidity situation. Fixed deposits with maturity period of 7 to 90 days will earn eight per cent interest against existing seven per cent. The SBI said in a statement that the new rate...
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Banking |
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0 | Hits : 977
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Tax Concession on Education Loan
Posted Date : 27-Mar-2012 , 09:34:47 pm | Posted By CASANSAAR
Section 80E of the Income Tax Act, 1961 provides for a deduction to an assessee (being an individual), out of his income chargeable to tax, on account of any amount paid by him in the previous year by way of interest on loan taken by him from any financial institution or any approved charitable inst...
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Category :
Income Tax |
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0 | Hits : 846
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Rs 2.73 lakh cr of I-T dues locked up in disputes: Govt
Posted Date : 27-Mar-2012 , 04:00:07 pm | Posted By CASANSAAR
As much as Rs 2.73 lakh crore of outstanding income tax dues are locked up in tax disputes at various levels, Parliament was informed today.
"As on September 30, 2011, a net amount of Rs 3,50,000 crore approximately is outstanding as income tax dues, out of which Rs 2,73,000 crore approximatel...
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Category :
Income Tax |
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0 | Hits : 697
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Now, have an enemy list on your Facebook account
Posted Date : 27-Mar-2012 , 03:01:41 pm | Posted By CASANSAAR
Facebook is not just about reaching out to friends but also foes as a new application allows you to add enemies to your profile.
EnemyGraph is a new application, available for free to all Facebook users, which lets you add enemies to your Facebook profile, including real victims from your friends...
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General |
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0 | Hits : 1011
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RBI slams banks on term deposit rates
Posted Date : 27-Mar-2012 , 02:59:01 pm | Posted By CASANSAAR
RBI has asked banks to avoid offering sharply different rates on deposits with similar maturities, saying that something is wrong with lenders if their retail and bulk deposit rates vary too much.
"If it (the difference between retail and bulk deposit rates) varies too much...
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RBI |
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0 | Hits : 799
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RBI tells NBFCs to notify clients before auctioning jewellery
Posted Date : 27-Mar-2012 , 07:59:53 am | Posted By CASANSAAR
Non-banking finance companies (NBFC) will now have to send "adequate prior notice" to their gold loan borrowers, if they plan to auction the jewellery kept as collateral, due to non-repayment of loans, according to the Reserve Bank of India's (RBI) guidelines on the fair practices code for the sec...
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Finance |
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0 | Hits : 770
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Revision of Interest Rates for Small Savings Schemes with Effect from 1st April 2012
Posted Date : 26-Mar-2012 , 08:34:00 pm | Posted By CASANSAAR
Based on the decisions taken by the Government on the recommendations of the Shyamala Gopinath Committee for Comprehensive Review of National Small Savings Fund (NSSF), the interest rates for small saving schemes are to be notified every financial year, before 1st April of that...
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Finance |
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0 | Hits : 1069
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Some persons having A/c in Swiss banks paid Rs 180cr as tax: Pranab Mukherjee
Posted Date : 26-Mar-2012 , 08:30:58 pm | Posted By CASANSAAR
Some persons with accounts in a Swiss bank have paid taxes amounting to about Rs 180 crore so far, Finance Minister Pranab Mukherjee has said in Parliament. He did not disclose any name. Mukherjee said the government has received information from France and Germany under Double Taxation Avoidanc...
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Category :
Income Tax |
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0 | Hits : 769
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XBRL Implementation
Posted Date : 26-Mar-2012 , 08:04:44 pm | Posted By CASANSAAR
The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Rajya Sabhathat the Ministry has set up a committee in November 2011 comprising of XBRL experts and representatives from the corporate sector as well as the Institute of Charter...
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Category :
Corporate Law |
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1 | Hits : 1218
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Regulation of Foreign Chartered Accountant Firms
Posted Date : 26-Mar-2012 , 07:59:56 pm | Posted By CASANSAAR
The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Rajya Sabha that the Indian Chartered Accountant (CA) firms are regulated by the Institute of Chartered Accountants of India (ICAI) in terms of provisions of the Chartered Accountants Act, 1949 and the Ru...
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Corporate Law |
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0 | Hits : 952
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Expert Panel for Addressing Queries arising during Bank Branch Audits for year ending 31st March 2012
Posted Date : 26-Mar-2012 , 06:13:10 pm | Posted By CASANSAAR
Dear Members,
The bank audit season is around the corner. Given the fact that the banking industry is typical in terms of its geographical and customer spread, the volume and varied nature of products and services offered, coupled with the strict constraints for completing...
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Category :
Auditing |
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0 | Hits : 1780
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I was offered Rs 14 crore bribe: Army Chief General VK Singh
Posted Date : 26-Mar-2012 , 09:39:44 am | Posted By CASANSAAR
Startling revelations came from the Indian Army Chief. General VK Singh said that he was offered a bribe worth Rs 14 crore by an equipment lobbyist in order to have a tranche of 600 sub-standard vehicles of a particular made cleared for purchase.
General Singh also said that 7,000 of those of whi...
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Category :
General |
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0 | Hits : 831
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ICICI Bank to pay customer for causing loss
Posted Date : 26-Mar-2012 , 07:30:31 am | Posted By CASANSAAR
ICICI Bank has been ordered by a consumer forum here to pay over Rs 2.14 lakh to one of its account holders for causing him financial loss by selling his shares pledged with it at lower price without his consent.
The District Consumer Disputes Redressal Forum gave the order on the plea by Janakpuri...
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Shares & Stock |
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0 | Hits : 806
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Tax department won't act like policeman, Pranab Mukherjee assures industry
Posted Date : 25-Mar-2012 , 09:53:31 pm | Posted By CASANSAAR
The government on Sunday said it has no vindictive intention in retrospectively amending tax laws and has no plans to re-open a large number of old cases, while assuring India Inc that the I-T department will not act like a "policeman". Interacting with industry leaders here...
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Income Tax |
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0 | Hits : 709
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Direct tax code to be made operational by 2013: Pranab Mukherjee
Posted Date : 25-Mar-2012 , 11:06:08 am | Posted By CASANSAAR
Union Finance Minister PranabMukherjee on Saturday said the Direct Tax Code (DTC) would be made operational by next year.
Speaking at the post-budget interactive session organised by Federation of Indian Chambers of Commerce and Industries (FICCI),Mukherjee said, “To mop up a...
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Income Tax |
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0 | Hits : 869
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Govt not listening to people
Posted Date : 25-Mar-2012 , 11:05:00 am | Posted By CASANSAAR
With anti-corruption activist Anna Hazare all set to observe a day-long fast at Jantar Mantar on Sunday to press for strong Lokpal and whistle-blower protection bills, all eyes are on Delhiites as to whether they will come forward in huge numbers to support the fight for Lokpal Bill. Before lea...
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General |
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0 | Hits : 705
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Cheques, drafts to be valid only for 3 months from April 01
Posted Date : 24-Mar-2012 , 08:10:52 am | Posted By CASANSAAR
Cheques and bank drafts will be valid only for 3 months with effect from 1st April. The step taken by Reserve Bank of India, RBI, will help mitigate frauds related to such instruments. The RBI has directed that with effect from April 1, 2012, banks should not make payments against cheques, draf...
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Banking |
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0 | Hits : 1453
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RBI to monitor banks' global books; SBI, ICICI, BoB among banks to face scrutiny
Posted Date : 24-Mar-2012 , 07:37:16 am | Posted By CASANSAAR
The Reserve Bank of India will send its officials to thoroughly inspect the fast growing overseas operations of Indian banks as they do for the local business to ensure that events outside the nation do not rock the domestic business. State Bank of India, ICICI Bank and Bank of Baroda are amon...
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Category :
Banking |
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0 | Hits : 890
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