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...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1065
|
 |
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...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 764
|
|
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...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 716
|
|
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...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 826
|
|
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...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 1299
|
|
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 ...
Continue Reading...
Category :
Excise |
Comments :
0 | Hits : 1142
|
|
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...
Continue Reading...
Category :
Income Tax |
Comments :
2 | Hits : 2664
|
|
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 ...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1543
|
|
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 ...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 756
|
|
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...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 931
|
|
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 ...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 826
|
|
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...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 838
|
|
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...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 991
|
|
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...
Continue Reading...
Category :
Finance |
Comments :
0 | Hits : 817
|
|
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...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 797
|
|
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...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 871
|
|
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...
Continue Reading...
Category :
Service Tax |
Comments :
0 | Hits : 1933
|
|
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...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 880
|
|
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....
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 762
|
|
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 ...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 2200
|
|
Income Tax offices to remain open on March 31.
Posted Date : 30-Mar-2012 , 04:50:46 pm | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has instructed all income tax offices to function on March 31, the last day of the financial year.
Accordingly, Income Tax offices will function from 9.30 am to 6 pm tomorrow to handle year-end rush.
Arrangements have been made to ...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1016
|
|
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 ...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 846
|
|
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 ...
Continue Reading...
Category :
International Business |
Comments :
0 | Hits : 975
|
|
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 ...
Continue Reading...
Category :
Finance |
Comments :
0 | Hits : 1043
|
|
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 ...
Continue Reading...
Category :
International Business |
Comments :
0 | Hits : 925
|
|
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...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 848
|
|
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...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 810
|
|
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...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 835
|
|
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...
Continue Reading...
Category :
FEMA |
Comments :
0 | Hits : 822
|
|
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 ...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 955
|
|
|
