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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Income Tax |
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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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Income Tax |
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0 | Hits : 957
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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 : 984
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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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Income Tax |
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0 | Hits : 860
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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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Income Tax |
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0 | Hits : 704
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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 : 1065
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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 : 820
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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 : 826
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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 : 1079
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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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Income Tax |
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0 | Hits : 779
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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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Corporate Law |
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1 | Hits : 1247
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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 : 965
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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 : 1795
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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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General |
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0 | Hits : 871
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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 : 836
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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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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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Category :
Income Tax |
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0 | Hits : 879
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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 : 715
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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 : 1462
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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 : 948
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Bill seeking to give woman share in husband's property approved
Posted Date : 24-Mar-2012 , 07:30:35 am | Posted By CASANSAAR
The Union Cabinet chaired by the Prime Minister Dr. Manmohan Singh on Friday approved a Bill seeking to give a woman a share in her husband's property . Apart from giving women the right to their husband's property, the Marriage Laws (Amendment) Bill, 2010, also aims at giving rights to adopted chil...
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General |
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0 | Hits : 1075
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Cabinet clears 7% DA hike for central govt employees
Posted Date : 23-Mar-2012 , 09:45:40 pm | Posted By CASANSAAR
Giving relief to its employees and pensioners from inflation, the central government on Friday announced a seven percentage point increase in dearness allowance (DA) which will cost the exchequer an additional Rs 7,500 crore.The new DA rate of 65 per cent of basic pay against 58 per cent earlier wil...
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General |
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0 | Hits : 961
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Change in Tariff Value of Gold Notified
Posted Date : 23-Mar-2012 , 09:44:29 pm | Posted By CASANSAAR
Central Board of Excise and Customs (CBEC), Department of Revenue, Ministry of Finance has issued a Notification No.24/2012-Customs (N.T.) dated March 22, 2012 and thereby notifying change in tariff value of Gold as shown in the tables below:
&nb...
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Custom |
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IDBI Bank collects Rs 1 lakh crore of central tax
Posted Date : 23-Mar-2012 , 04:32:40 pm | Posted By CASANSAAR
Public sector lender IDBI Bank today said it has collected Rs 1 lakh crore of central tax through its network in the current fiscal. The bank has also collected more than 16 percent of the government's revised target of direct taxes during the period. "IDBI Bank has achieved the landmark of Rs 1...
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Income Tax |
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0 | Hits : 729
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Capital requirements for co-ops to go up: RBI
Posted Date : 23-Mar-2012 , 04:16:05 pm | Posted By CASANSAAR
The Reserve Bank said that the minimum capital requirements for cooperative banks will soon go up to as much as 3 crore rupees from the present 15 lakh rupees. RBI Executive Director S Karuppasamy gave this information in Mumbai on Thursday. He said that depending on the location and area RBI is com...
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Banking |
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0 | Hits : 763
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Bank branch Advance limit for Statutory Audit fixed at 6 crores
Posted Date : 23-Mar-2012 , 08:33:14 am | Posted By CASANSAAR
Dear Member, It has been learnt that RBI has received communication regarding Bank Branch Audit allotment.
All Bank Branches having advances of Rupees six crores and above and one third of the branches below six crores of advances will be audited. CA. Jaydeep N. Shah Pres...
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Income Tax |
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0 | Hits : 2274
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60-yr-old CA in EOW net for selling TDR worth Rs 5 cr
Posted Date : 23-Mar-2012 , 08:16:00 am | Posted By CASANSAAR
The economic offences wing (EOW) has arrested two persons-a 60-year-old chartered accountant and the accountant of an infrastructure firm-for selling transfer of development rights (TDR) valued at Rs 4.61 crore to four companies.The FIR was lodged by Dhiren Mehta, director of Bharat Insulation ...
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ICAI |
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0 | Hits : 1033
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Govt sets up 12-member advisory group on international taxation
Posted Date : 23-Mar-2012 , 08:12:02 am | Posted By CASANSAAR
The Finance Ministry has constituted a 12-member advisory group headed by the Revenue Secretary on the controversial amendments in the Income Tax Act that seek to tax overseas deals with retrospective effect.The group, which will also have representatives from the industry chambers, will suggest to ...
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Income Tax |
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0 | Hits : 690
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Govt approved 6 Proposals of Foreign Direct Investment Amounting to Rs. 232.67 crore
Posted Date : 23-Mar-2012 , 08:10:07 am | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on March 2, 2012, the CentralGovernment has approved sixteen (16) proposals of Foreign Direct Investment amounting to Rs.&nb...
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Finance |
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0 | Hits : 1058
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Number of companies, which have not submitted their Annual Returns and Balance Sheets during the last three years
Posted Date : 23-Mar-2012 , 08:08:52 am | Posted By CASANSAAR
The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the LokSabha that it is mandatory, under the Companies Act, 1956 for all companies to submit Annual Returns, Balance Sheet etc to the Government.
&n...
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Category :
Corporate Law |
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0 | Hits : 935
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