Pranab expresses satisfaction over increase in direct tax base
Posted Date : 09-Apr-2012 , 09:35:23 am | Posted By CASANSAAR
Finance Minister Pranab Mukherjee has expressed satisfaction over increase in direct tax base. Speaking after inaugurating the Direct Taxes Training Institute in Bangalore on Sunday, the Minister said the country's heavy dependence on indirect taxes earlier was worrying, but now direct tax base has ...
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Income Tax |
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Banks should play a key role in promoting inclusive growth: Pranab
Posted Date : 08-Apr-2012 , 08:28:14 am | Posted By CASANSAAR
Union Finance Minister Pranab Mukherjee says, inclusive growth is a key strategy to achieve and banks should play a key role in promoting it. He was speaking at the 6th International Banking and Finance Conference 2012 in Mumbai on Saturday.Mukherjee underlined the need to ensure every segment of th...
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Banking |
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Govt committed to infusing funds in PSU banks, says FM
Posted Date : 07-Apr-2012 , 05:58:21 pm | Posted By CASANSAAR
The government will recapitalise the state-owned banks to help them tide over the problems arising out of slow economic growth, Finance Minister Pranab Mukherjee said in Mumbai on Saturday.
"Going forward if GDP growth slows down, there could be some impact on asset quality (of banks)," Mukherjee...
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Banking |
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Bullion traders and jewellers call off 21-day strike on assurance from FM
Posted Date : 06-Apr-2012 , 06:22:17 pm | Posted By CASANSAAR
Agitating bullion traders and jewellers on Friday called off their 21-day strike after an assurance from Finance Minister Pranab Mukherjee that the government will consider their demand for rollback of excise duty on unbranded jewellery. "We have decided to suspend the strike till May 10," A...
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General |
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Facebook picks Nasdaq to list its shares: Report
Posted Date : 06-Apr-2012 , 01:39:14 pm | Posted By CASANSAAR
Popular social networking site Facebook, which will soon launch its initial public offering, has zeroed in on the Nasdaq Stock Exchange to list its shares, a media report said. Billionaire Mark Zuckerberg-led Facebook has chosen the city-based Nasdaq over the New York Stock Exchange for its listin...
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International Business |
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Sebi mulls new ethics code for brokers
Posted Date : 05-Apr-2012 , 11:41:23 pm | Posted By CASANSAAR
With an aim to check flow of illicit funds and other manipulative activities in the stock market, regulator Sebi is planning more frequent inspection of various market entities and a new code of conduct for brokers.
Besides, the capital market regulator would also ask all the mark...
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SEBI |
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Last Date Extended to 11th April 2012 for Empanelment for Observers for the CA Exam to be held in May-2012 and the Common Proficiency Test to be held in June-2012
Posted Date : 04-Apr-2012 , 09:59:59 pm | Posted By CASANSAAR
4th April, 2012
Examination Department
The last date for receipt of application for Empanelment for Observers for Chartered Accountants Main Examinations scheduled to be held from 2nd to 17th May, 2012 and CPT on 17th June, 2012 has been extended upto 11th April, 2012 (We...
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ICAI |
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Supreme Court rejects Essar Oil's plea in tax case
Posted Date : 04-Apr-2012 , 09:53:25 pm | Posted By CASANSAAR
Essar Energy Plc said the country's supreme court dismissed its unit Essar Oil's petition to review an earlier verdict that asked Essar Oil not to defer the payment of $1.24 billion in sales tax. London-listed Essar Energy said the decision would not have any new impact on the company's business...
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Income Tax |
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Govt monitoring efforts to recover NPAs of banks
Posted Date : 04-Apr-2012 , 04:49:19 pm | Posted By CASANSAAR
With bad loans of banks touching Rs 1.27 lakh crore during April-December 2011, the Government today said that it is monitoring the efforts for the recovery of non-performing assets (NPAs) by lenders.
“(We are) aggressively looking at efforts to recover NPAs,” the Financial Serv...
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Banking |
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Banks to work full day this Saturday
Posted Date : 04-Apr-2012 , 08:40:48 am | Posted By CASANSAAR
In view of three holidays this week, public sector banks have been directed to function full day on Saturday, April 7.
The Finance Ministry has asked all public sector banks to to function full day this coming Saturday instead of working half-day, official sources said. Us...
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Banking |
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Income Tax department to revive 'demand notice' in Vodafone tax case
Posted Date : 04-Apr-2012 , 08:37:16 am | Posted By CASANSAAR
The tax authorities will revive the 'demand notice' to force Vodafone Group Plc to pay up thousands of crores in taxes, indicating the government's determination to press its claims on the UK-based mobile phone giant but at the same time setting the stage for further litigation.
The demand not...
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Income Tax |
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Investors with interest in Mauritius won't attract capital gains tax
Posted Date : 04-Apr-2012 , 08:25:34 am | Posted By CASANSAAR
Foreign institutional investors based in Mauritius will not be required to pay capital gains in India if they have 'substantial commercial interest' in the island nation, a finance ministry official has clarified. The official said the proposed General Anti Avoidance Rules, or GAAR, are very cle...
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Income Tax |
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0 | Hits : 767
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RBI tightens banks' reporting norms to monitor gold import
Posted Date : 04-Apr-2012 , 08:23:51 am | Posted By CASANSAAR
The Reserve Bank on Tuesday tightened the reporting requirements under which banks will have to submit a monthly statement informing the central bank about the quantity of gold imported and mode of payment adopted."It has been decided to further rationalise the entire reporting system on import of g...
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RBI |
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188 Co's default on financial commitments in FY12: Crisil
Posted Date : 03-Apr-2012 , 08:13:36 pm | Posted By CASANSAAR
Against the backdrop of sluggish economic conditions and high interest rate, close to 200 companies defaulted on their financial commitments in the last fiscal, according to a report by Crisil.
"Credit quality pressures have intensified for India's corporates in 2011-12. Instances of defa...
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Corporate Law |
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0 | Hits : 829
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10-yr-old files RTI on Mahatma Gandhi's father of the nation status
Posted Date : 03-Apr-2012 , 04:37:48 pm | Posted By CASANSAAR
A query posted by a 10-year-old girl under the Right to Information Act (RTI) regarding father of nation status to Mahatma Gandhi has raised a piquant situation before the government.
In February this year, Aishwarya Parashar, a class sixth student, sent an RTI application to the central public i...
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General |
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Excise duty on gold jewellery: Traders
Posted Date : 03-Apr-2012 , 07:48:25 am | Posted By CASANSAAR
The nationwide strike by jewellers and bullion traders against the imposition of excise duty on unbranded jewellery entered its 17th day on Monday as traders and small artisans participated in a demonstration at Jantar Mantar. The traders vowed to keep their shutters closed until the ...
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Excise |
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GAIL (India) Limited
Posted Date : 03-Apr-2012 , 07:38:41 am | Posted By CASANSAAR
GAIL (India) Limited, is a Navratna PSU and India's flagship Natural Gas company, integrating all aspects of the Natural Gas value chain (including Exploration & Production, Processing, Transmission, Distribution and Marketing) and its related services.
The company intends to recr...
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Income Tax |
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CA CS CMA to pay Service Tax on Accrual Basis if Turnover exceeded Rs. 50 Lakh
Posted Date : 03-Apr-2012 , 07:21:04 am | Posted By CASANSAAR
From 01.04.2012 CA, CS, CWA, Advocate, Interior Decorators, Architect, Scientific or Technical Consultants, Consulting engineers to pay Service Tax on Bill Basis if Turnover exceeded 50 Lakh in Previous Financial Year
With the Amendment in Point of Taxation Rules, 2011 ...
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Income Tax |
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0 | Hits : 1547
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Sebi allows listing of stock exchanges
Posted Date : 02-Apr-2012 , 10:37:43 pm | Posted By CASANSAAR
Clearing the decks for listing of stock exchanges, capital market regulator the Securities and Exchange Board of India (Sebi) today said 51% stake of bourses could be held with public.
This was decided after considering the much-debated Bimal Jalan Committee recommendations which had not ...
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SEBI |
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Companies must obtain permission to operate FCA abroad: RBI
Posted Date : 02-Apr-2012 , 10:31:44 pm | Posted By CASANSAAR
The Reserve Bank of India, RBI on Monday said that Indian companies will require to obtain its prior permission to open, hold and maintain foreign currency account -FCA abroad for the purpose of overseas direct investments.The RBI has issued a notification to this effect. According to the notificati...
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RBI |
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D Sarkar takes over as Chairman and Managing Director of Union Bank of India
Posted Date : 02-Apr-2012 , 04:04:33 pm | Posted By CASANSAAR
Union Bank of India today said D Sarkar has taken over as Chairman and Managing Director (CMD) of the state-owned lender. Sarkar replaces M V Nair, who headed the bank for 6 years. He has taken charge as CMD of the Bank from April 1, Union Bank of India said in a ...
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Banking |
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Goa slashes petrol prices by 11 rupees from today
Posted Date : 02-Apr-2012 , 04:02:17 pm | Posted By CASANSAAR
Petrol has become cheaper in Goa by eleven rupees a litre from today. It will now be available at 54 rupees per litre. A notification to this effect has been issued by the state government. This follows an announcement made by Chief Minister Manohar Parrikar in the state assembly on March 26 wh...
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General |
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Banks can't freeze accounts if KYC documents not supplied: HC
Posted Date : 02-Apr-2012 , 08:26:47 am | Posted By CASANSAAR
The Gujarat High Court has ruled that banks cannot freeze accounts nor can they stop issuing cheque book or providing ATM facility where the account holder has not supplied KYC (Know Your Customer) documents. The court has further ruled that presence of the account holder was not a 'mu...
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Income Tax |
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RBI calls for greater focus on state finances
Posted Date : 01-Apr-2012 , 07:58:56 pm | Posted By CASANSAAR
The Reserve Bank of India has called for greater attention on structural issues confronting state finances in the country. Releasing a publication today which focuses on the study of budgets of state finances, the RBI said there is need for greater focus on structural issues confronting state financ...
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Finance |
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Direct Tax Code to roll by next year, says Pranab Mukherjee
Posted Date : 01-Apr-2012 , 08:01:25 am | Posted By CASANSAAR
Union Finance Minister Pranab Mukherjee on Saturday said that the long-awaited Direct Tax Code (DTC) would be rolled out from next year. "Next year, I will introduce the DTC fully after examining the recommendations of the parliamentary standing committee. The recommendations of the parliamentary...
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Income Tax |
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0 | Hits : 800
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FM defends amendment of IT Act with retrospective effect
Posted Date : 31-Mar-2012 , 09:43:28 pm | Posted By CASANSAAR
Finance minister Pranab Mukherjee on Saturday defended the move to amend the Income Tax Act with retrospective effect following which UK’s Vodafone may have to pay Rs. 11,000 crore as tax for a buyout deal involving Indian business. “First the Supreme Court told in the Vod...
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Income Tax |
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0 | Hits : 875
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Statutory Bank Auditors should charge 12.36% Service tax on Audit Fees
Posted Date : 31-Mar-2012 , 06:58:05 am | Posted By CASANSAAR
Compliance Under Service Tax – 2012-13 – Bank Audit
The compliance under service tax provisions post Finance Bill 2012 may need clarity on 3 aspects which are discussed as under:
I. Small Service Provider Exemption
The basic exemption is available to t...
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Service Tax |
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Govt moves to make it pay Rs 11k tax unjust: Vodafone
Posted Date : 31-Mar-2012 , 06:54:31 am | Posted By CASANSAAR
Terming the move to tax cross-border deals with retrospective effect as “grossly unjust”, UK-based telecom giant Vodafone today said it is considering various courses of action to safeguard its position in India.
While Vodafone did not give details of possible recourse it may take, it...
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Income Tax |
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0 | Hits : 885
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SEBI issues rules for algorithmic trading
Posted Date : 31-Mar-2012 , 06:51:06 am | Posted By CASANSAAR
The capital market regulator has put checks and balances in place for high-frequency trading. SEBI has issued detailed guidelines asking exchanges to contain possibilities of potential systemic risk caused by the use of sophisticated automated software by brokers to trade on stock exchanges....
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SEBI |
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New Income Tax Return Forms for Assessment Year 2012-13.
Posted Date : 30-Mar-2012 , 08:23:36 pm | Posted By CASANSAAR
CBDT notifies New Income Tax Return Forms for the Assessment Year 2012-13.
NEW RETURN FORMS FOR ASSESSMENT YEAR 2012-13
Notification English
Notification Hindi
Form No.
ITR-1 SAHAJ
Indian Individual Income ...
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Income Tax |
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