Budget Highlights - Live updates on Union Budget 2012
Posted Date : 16-Mar-2012 , 09:34:47 am | Posted By CASANSAAR
Government services and public transport exempted from services tax
Compulsory reporting of assets sold abroad
Eating out in restaurants to cost more
Excise duty on big cars raised to 24%
Luxury items to cost more
Air travel to get expensive
Big cars to get dearer
Cuts securities transactio...
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Budget |
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Budget 2012: EPF rate cut from 9.5% to 8.25% for 2011-12
Posted Date : 16-Mar-2012 , 09:14:18 am | Posted By CASANSAAR
Government has slashed interest rate on deposits in Employees Provident Fund from 9.5% to 8.25% for 2011-12 affecting over 4.7 crore subscribers.
This cut was proposed by the Finance Ministry and a notification was issued by the Labour Ministry, official sources said.
The Employees' Provident Fu...
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Budget |
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ICAI National Cost Convention-2012
Posted Date : 16-Mar-2012 , 07:44:46 am | Posted By CASANSAAR
Shri R.P.N. Singh, Minister of State for Corporate Affairs has emphasized upon public friendly Accounting. Inaugurating the three day long 53rd National Cost Convention of Cost and Management Accountants (CMA) for the year 2012 organised by the Institute of Cost Accountants of India (ICAI) here in N...
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ICWAI |
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Tax payers may get some relief from budget
Posted Date : 15-Mar-2012 , 06:54:48 pm | Posted By CASANSAAR
Tax payers will be looking forward to some relief from Finance Minister Pranab Mukherjee who is expected to raise the income tax exemption limit to at least Rs 2 lakh in his budget proposals to be unveiled in the Lok Sabha on Friday.
The Minister may also marginally raise the slabs in other tax b...
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Income Tax |
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World Bank announces $4.3 bn aid to India
Posted Date : 15-Mar-2012 , 06:53:33 pm | Posted By CASANSAAR
The World Bank has announced 4.3 billion US dollar financial aid to India through a new innovative and flexible financing arrangement to help the country fight poverty. This arrangement has been designed in a way to maintain net exposure of the lending arm of World Bank, International Bank for ...
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International Business |
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Highlights of Economic Survey 2011-12
Posted Date : 15-Mar-2012 , 01:10:25 pm | Posted By CASANSAAR
Following are the highlights of Economic Survey 2011-12, as detailed in the website of the Press Information Bureau:
1. Rate of growth estimated to be 6.9%. Outlook for growth and stability is promising with real GDP growth expected to pick up to 7.6% in 2012-13 and 8.6% in 2013-14.
2. Agricultu...
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Finance |
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Summary of Economic Survey
Posted Date : 15-Mar-2012 , 01:08:14 pm | Posted By CASANSAAR
Indian economy is estimated to grow by 6.9% in 2011-12 mainly due to weakening industrial growth. This indicates a slowdown compared not just to the previous two years, when the economy grew by 8.4%, but also from 2003 to 2011, except 2008-9 economic downturn, when the growth rate was 6.7 percent. T...
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Finance |
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RBI keeps rate unchanged; inflation to guide future action
Posted Date : 15-Mar-2012 , 12:38:35 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) today kept key policy rate unchanged and said future policy action would be determined by the movement in inflation. "On the basis of the current macroeconomic assessment, it has been decided to keep the policy repo rate under the liquidity adjustment f...
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RBI |
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Dinesh Trivedi says he has not resigned yet
Posted Date : 15-Mar-2012 , 11:12:02 am | Posted By CASANSAAR
Railway Minister Dinesh Trivedi, whose removal has been demanded by his party leader andTMC boss Mamata Banerjee, on Thursday said he has not resigned as yet.
It was earlier reported that Trivedisent his resignation to the Prime Minister. News channels on Thurs...
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General |
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Railway Budget 2012: Dinesh Trivedi resigns; TMC recommends Mukul Roy as new railway minister
Posted Date : 15-Mar-2012 , 08:23:58 am | Posted By CASANSAAR
Railway Minister Dinesh Trivedi sent his resignation letter to Prime Minister Manmohan Singh in the wee hours of Thursday, according to sources. Trivedi offered resignation after his own party, the Trinamool Congress, termed across-the-board passenger fare hikes as a "hostile act". Late Wednesda...
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Budget |
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Verification Status November - 2011 ICAI Examinations
Posted Date : 15-Mar-2012 , 08:20:42 am | Posted By CASANSAAR
Click on the below links.
IPCE - NOVEMBER, 2011
PCE - NOVEMBER, 2011
FINAL - NOVEMBER, 2011
Source : www.icai.org
...
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ICAI |
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Bombay High Court dissolves Shirdi temple trust
Posted Date : 15-Mar-2012 , 08:16:45 am | Posted By CASANSAAR
The Bombay High Court on Tuesday disbanded the 15-member committee of the Shri Saibaba Sansthan Trust, which manages the affairs of one of the richest temples in India-the Saibaba temple at Shirdi. Hearing a public interest litigation filed by two Shirdi residents, which said th...
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General |
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E-courts to hear tax cases via webcast
Posted Date : 15-Mar-2012 , 08:14:12 am | Posted By CASANSAAR
The unending wait for justice due to the huge backlog of cases may continue. But if the Income Tax Appellate Tribunal (ITAT) has its way, there could be some relief, finally.
The ITAT is mulling e-courts, or simply hearing of cases through webcast, to clear the backlog of cases in smaller...
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General |
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Bombay High Court tells Sebi to rethink MCX-SX plea
Posted Date : 15-Mar-2012 , 08:08:43 am | Posted By CASANSAAR
The Bombay High Court has ruled in favour of MCX Stock Exchange (MCX-SX), one of the country's youngest bourses, in a long and closely tracked feud with the Securities & Exchange Board of India that is yet to spell out its future course of action. The court on Wednesday set aside a regulator...
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SEBI |
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Admit Cards to Students appearing in May 2012 CA Examinations
Posted Date : 14-Mar-2012 , 08:47:07 pm | Posted By CASANSAAR
Candidates who have applied for May 2012 Chartered Accountants exams are requested to note that admit cards with photographs and signatures of the candidates will be hosted on http://www.icai.nic.in generally 21 days prior to the commencement of the examination. Cand...
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Students Zone |
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Railway budget 2012-13
Posted Date : 14-Mar-2012 , 04:05:23 pm | Posted By CASANSAAR
The Railway Budget has been presented in the Parliament today. No increase in freight rates, moderate hike in passenger fare, introduction of 75 new express trains, construction of new lines in the underdeveloped parts of the country, modernisation of railways, a new body to ensure passenger sa...
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Budget |
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Railway Budget 2012-13 (Highlights)
Posted Date : 14-Mar-2012 , 01:30:55 pm | Posted By CASANSAAR
Introduction of satellite based real time train information system (SIMRAN) to provide train running information to passengers through SMS, internet, etc.
Passenger fares increased marginally. The increase will be by 2 paise per km for suburban and ordinary second class; 3 paise per km for ...
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Budget |
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Rail Budget 2012 to be presented today, travel may get costly
Posted Date : 14-Mar-2012 , 08:14:05 am | Posted By CASANSAAR
It's the D-day and all eyes will be on Union Minister Dinesh Trivedi who will present the Railway Budget 2012 in Parliament. Sources say that the government is likely to impose a safety cess, although it will not be labelled a fare hike. Sources add that there is a possibility of an addition...
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Budget |
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Women presence rising on companies' boards: Study
Posted Date : 14-Mar-2012 , 08:13:07 am | Posted By CASANSAAR
In an indication of growing women presence in the corporate corridors, an average of nine out of every ten large companies have now got at least one female director, a study said today. As per an annual study of women presence on the company boards, 89 out of the top 100 companies in the UK have ...
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Corporate Law |
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PwC India dressed up books to show profits
Posted Date : 14-Mar-2012 , 08:11:17 am | Posted By CASANSAAR
Serious violations of accounting principles as well as major financial irregularities have been detected in several entities of PricewaterhouseCoopers India (PwC India), which would seem to indicate that the company has been wrongfully dressing up its own books and those of its network au...
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Auditing |
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12 persons account for 90% of total income tax dues
Posted Date : 14-Mar-2012 , 08:09:17 am | Posted By CASANSAAR
The finance ministry today said income tax dues from 12 individuals, including stud-farm owner Hasan Ali Khan, account for 90 per cent of the total income tax outstanding. "The amount of outstanding income tax dues is a dynamic figure. As on September 30, 2010, about 90 per cent of the outstandi...
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Income Tax |
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ICAI to release White Paper on agriculture costing
Posted Date : 14-Mar-2012 , 08:08:32 am | Posted By CASANSAAR
The Institute of Cost Accountants of India (ICAI) will release the White Paper on Agricultural Costing and Pricing methods on Thursday. The release, first on the subject by ICAI, will be made at the 3-day 'National Cost Convention' beginning here on March 15, said an official. "The government has...
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ICWAI |
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Budget 2012: Direct Tax Code: Par panel report on DTC tabled in LS
Posted Date : 14-Mar-2012 , 07:57:39 am | Posted By CASANSAAR
The Parliamentary panel on Direct Taxes Code in its report tabled in Lok Sabha today has suggested raising the income tax exemption limit to Rs 3 lakh. The report of Standing Committee on Finance, which scrutinised the Direct Taxes Code (DTC) Bill, will pave the way for discussions and adoption of...
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Budget |
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Company Law Board asks Unitech to buy out Telenor's stake or exit JV
Posted Date : 14-Mar-2012 , 07:56:21 am | Posted By CASANSAAR
The Company Law Board, a quasi-judicial body that rules on corporate matters, on Tuesday directed Unitech Wireless to decide by March 19 if it wants to buy out the 67.25% stake held by Norway's Telenor, or exit their joint venture. "You (Unitech) are given priority, whether you want to buy or se...
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Corporate Law |
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Press Release - ICAI (The Institute of Cost Accountants of India)
Posted Date : 13-Mar-2012 , 07:17:19 pm | Posted By CASANSAAR
PRESS RELEASE
March 10, 2012
Standing Committee on Finance recommends widening the scope of the definition of ‘accountant”. Mr. M.Gopalakrishnan, President of The Institute of Cost Accountants of India, announced, that the cost and management accounting p...
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ICWAI |
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Fund inflow in audit companies like PwC and Lovelock & Lewes against FDI norms
Posted Date : 13-Mar-2012 , 08:17:48 am | Posted By CASANSAAR
The inflow of funds from Pricewaterhouse-Coopers Services BV, Netherlands, was first shown as 'reimbursement of expenses' - including in representation made to banks - but later invoiced as 'support' and finally as 'grant'. Surprisingly, the books of accounts classified this as 'sundry income' , ...
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ICAI |
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Third extension to CBDT panel on black money
Posted Date : 13-Mar-2012 , 08:13:22 am | Posted By CASANSAAR
The CBDT Chairman-led committee on combating the menace of black money has been given yet another extension and it is now expected to submit its final report by this month end. It is the third time that the deadline has been extended for the panel, which was constituted in May last year. With the...
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Income Tax |
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India set for high growth trajectory: Govt
Posted Date : 12-Mar-2012 , 09:31:55 pm | Posted By CASANSAAR
The government is confident that it will soon steer the country back to the high growth trajectory of eight to nine percent. Addressing joint Session of Parliament, the President Mrs. Pratibha Devisingh Patil said that the country's economy grew at a handsome rate of 8.4 percent in 2010-11, but it h...
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General |
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Govt committed to pass Lokpal Bill to curb corruption: Bansal
Posted Date : 12-Mar-2012 , 09:30:29 pm | Posted By CASANSAAR
The Parliamentary Affairs Minister Pawan Kumar Bansal has said that the government is committed to pass an effective and powerful Lokpal Bill to curb corruption in the society. Replying to questions at a press conference in New Delhi today, Mr Bansal said, the government wants to pass the Bill durin...
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General |
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Annual Function & Winners of CASANSAAR 20-20 Chess Tournament
Posted Date : 12-Mar-2012 , 10:57:39 am | Posted By CASANSAAR
The second annual award function of casansaar duly held on 11th of March, 2012 at the Instittute of Engineering was really successful. The honorable chief guest of the ceremony was CA Ved Jain ji. The function was hosted by CA Lavina Bajaj.
CA Vivek Khurana founder and CEO of casansaar.co...
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