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...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 948
|
 |
CAG says media reports on coal block auction are misleading
Posted Date : 23-Mar-2012 , 08:06:56 am | Posted By CASANSAAR
The CAG has told the Prime Minister that the media reports on alleged coal scam published in a newspaper is exceedingly misleading. Quoting CAG, the daily claimed that the government has lost 10.7 lakh crore rupees by not auctioning coal blocks.Rejecting the claim, the CAG in a letter to Dr Manmohan...
Continue Reading...
Category :
CAG |
Comments :
0 | Hits : 1164
|
|
Railway minister Mukul Roy announces rollback in railway fare hike
Posted Date : 22-Mar-2012 , 02:23:02 pm | Posted By CASANSAAR
Newly appointed railway minister Mukul Roy announced a rollback in some of the rail fares that were announced last week in the Rail Budget. Mukul Roy told Parliament that fares for first and second class passengers in air-conditioned carriages would still go up, but there would be no increase for...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 926
|
|
Government lost Rs 10.7 lakh crore by not auctioning coal blocks: CAG
Posted Date : 22-Mar-2012 , 10:52:33 am | Posted By CASANSAAR
The CAG is at it again. About 16 months after it rocked the UPA government with its explosive report on allocation of 2G spectrum and licences, the Comptroller & Auditor General's draft report titled 'Performance Audit Of Coal Block Allocations' says the government has extended "undue benefi...
Continue Reading...
Category :
CAG |
Comments :
0 | Hits : 1314
|
|
Divorce to get easier, faster
Posted Date : 22-Mar-2012 , 08:30:00 am | Posted By CASANSAAR
The government is working to make laws friendlier to help unhappy couples get divorce faster. The government wants changes in the Hindu Marriage Act of 1955 and Special Marriage Act of 1954 to provide ‘irretrievable breakdown of marriage’ as a new ground for parting ways. As a now a mini...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 1202
|
|
SEBI plans no-frills demat accounts to attract retail investors
Posted Date : 22-Mar-2012 , 08:25:55 am | Posted By CASANSAAR
Market regulator Sebi is exploring the option of low-cost, no-frills demat accounts, hoping it will encourage more investors to take a plunge into equities. Annual depository account maintenance charges can be as high as Rs 1,000, discouraging retail investors who may want to invest small sums ...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 839
|
|
Vodafone have to pay tax once I-T Act is amended: FinMin
Posted Date : 21-Mar-2012 , 10:28:05 pm | Posted By CASANSAAR
British telecom major Vodafone will have to pay over Rs 11,000 crore tax, once the amendment to change the Income Tax Act is approved by Parliament, a Finance Ministry official said today.
"They (Vodafone) will have to automatically pay the tax after approval of the amendments to the Finance Bill...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1076
|
|
RBI offices to remain open on Mar 31 for special clearings
Posted Date : 21-Mar-2012 , 05:05:14 pm | Posted By CASANSAAR
All the regional offices of the Reserve Bank of India and the branches of agency banks will remain open on March 31, Saturday, for special clearings of government transactions for 2011-12. "With a view to facilitating accounting of all government transactions of the current ...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 841
|
|
Tech Mahindra, Mahindra Satyam boards approve merger at swap ratio of 2:17
Posted Date : 21-Mar-2012 , 04:54:04 pm | Posted By CASANSAAR
The boards of Satyam Computer Services Ltd and Tech Mahindra Ltd, IT services providers of the Mahindra group, approved the merger of two companies, according to TV reports. The exchange ratio for the merger was pegged at 2:17 ratio i.e. 2 shares of Tech Mahindra will be given for 17 shares of ...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 1064
|
|
Move to hike advance limit for bank branch audit flayed
Posted Date : 21-Mar-2012 , 08:26:51 am | Posted By CASANSAAR
A debate is on over the move to up the minimum advance limit for making statutory audit compulsory in a public sector bank branch.
All PSU bank branches having advances of over Rs.5 crore are now subject to statutory audit. The minimum advance limit is now sought to be increased to Rs.20 cr...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 2459
|
|
Sebi short-lists 19 companies in 2011 IPO fraud case
Posted Date : 21-Mar-2012 , 07:51:55 am | Posted By CASANSAAR
Capital market regulator Sebi has widened the scope of its investigation to probe misuse of fund or price manipulation by some of the companies that came out with IPOs last year. Sebi's integrated surveillance department and investigation department have short-listed 19 companies that were lis...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 1089
|
|
NRIs with unexplained wealth may land in income tax trouble
Posted Date : 21-Mar-2012 , 07:49:40 am | Posted By CASANSAAR
The government today said the Income Tax Department will "bother" only those non-resident Indians who have unexplained funds."If any money is found to be of some person and then it comes to our knowledge, then if it is legitimately explained he doesn't have to bother, but if it is unexplained ...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 726
|
|
Kingfisher Airlines to suspend all international flights: Mallya
Posted Date : 20-Mar-2012 , 09:09:39 pm | Posted By CASANSAAR
Kingfisher Airlines will suspend all international flights, and has submitted a new flight plan to the country's aviation regulator. The airline will operate up to 125 daily local flights with 20 planes.The promoter of the carrier, Vijay Mallya, with other top Kingfisher officials, met ...
Continue Reading...
Category :
International Business |
Comments :
0 | Hits : 818
|
|
SC dismisses Govt's review petition on Vodafone verdict
Posted Date : 20-Mar-2012 , 09:04:44 pm | Posted By CASANSAAR
The Supreme Court on Tuesday dismissed the government’s review petition in the Rs 11,000 crore Vodafone tax case.The government had filed a review petition asking the court to reconsider its verdict delivered in January which gave its order in favour of Vodafone and helped improve foreign inve...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 828
|
|
Insurance Companies Mandated to Take Prior Approval of IRDA of their Products Before Launching
Posted Date : 20-Mar-2012 , 09:02:38 pm | Posted By CASANSAAR
The insurance companies are mandated to take prior approval from the Insurance Regulatory and Development Authority (IRDA) of the product before launching. As per File and Use Guidelines, the insurance companies are required to launch products after allowing for 60 days for non-life and 30 days...
Continue Reading...
Category :
Finance |
Comments :
0 | Hits : 727
|
|
Mukul Roy to be sworn in as Railways Minister today
Posted Date : 20-Mar-2012 , 08:13:18 am | Posted By CASANSAAR
After forcing the government to secure the resignation of railway minister Dinesh Trivedi, Trinamool Congress chief Mamata Banerjee on Monday persuaded Prime Minister Manmohan Singh to induct Mukul as the new Cabinet minister. Roy will be sworn in at 10 am on Tuesday, hours before the commencem...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 765
|
|
Delhi High Court quashes criminal case against Microsoft
Posted Date : 20-Mar-2012 , 08:08:11 am | Posted By CASANSAAR
The Delhi High Court on Friday quashed criminal proceedings against Microsoft India, a fortnight after the company was exempted by a trial court in a similar case for hosting objectionable content online. Microsoft India is the only company, out of the 21 websites, against whom both criminal and...
Continue Reading...
Category :
International Business |
Comments :
0 | Hits : 827
|
|
SC to hear Centre's Vodafone review plea today
Posted Date : 20-Mar-2012 , 07:42:54 am | Posted By CASANSAAR
The Supreme Court will hear the Centre's plea for review of the Vodafone judgment on Tuesday at a time when the UPA government has proposed to amend the Income Tax Act to levy capital gains tax on domestic asset acquisition through merger and acquisition deals involving overseas companies....
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 692
|
|
Don't start taking sleeping pills, Jaswant tells Pranab
Posted Date : 19-Mar-2012 , 10:07:09 pm | Posted By CASANSAAR
"Do not start consuming sleeping pills," this was the advice of former finance minister Jaswant Singh to the present incumbent in the finance ministry on the issue fiscal deficit. Making a brief remark before the Prime Minister's reply in the Lok Sabha to the Motion of ...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 669
|
|
Setting Up of NCLT and NCLA
Posted Date : 19-Mar-2012 , 10:04:50 pm | Posted By CASANSAAR
The Government proposes to set up National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT). Provisions have been incorporated in the Companies Bill, 2011 which has been introduced in the Lok Sabha on 14.12.2011. The establishment of NCLT and NCLAT as specialized ...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 1016
|
|
Delay in Implementation of IFRS
Posted Date : 19-Mar-2012 , 10:03:58 pm | Posted By CASANSAAR
Keeping in view the consultation held with various stakeholders on certain issues including tax related issues, it was decided to implement convergence of Indian Accounting Standards with International Financial Reporting Standards (IFRS) in a phased manner to ease the process for all the stakeholde...
Continue Reading...
Category :
Accounts |
Comments :
0 | Hits : 1844
|
|
CCI highlights the competition issues in public procurement
Posted Date : 19-Mar-2012 , 03:51:55 pm | Posted By CASANSAAR
Under the competition advocacy initiatives, the Competition Commission of India has been organizing meetings, seminars, workshops etc. with the various stake holders to spread awareness about the Competition Law and the Commission. As part of this initiative CCI organized a workshop on the topi...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 794
|
|
After tax blow, Get ready for fuel price hike
Posted Date : 19-Mar-2012 , 08:30:07 am | Posted By CASANSAAR
Oil companies are considering an increase — a substantial one at that — in the prices of automobile and cooking fuels as early as next week after the budget session goes into a break on March 30. It will be another piece of bad news for consumers hit by costlier products and services fol...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 964
|
|
EC gives green signal to new auditing norms for political parties
Posted Date : 19-Mar-2012 , 08:22:06 am | Posted By CASANSAAR
In a step that will bring in transparency and help curb black money in the poll process, the Election Commission has given its nod to new auditing and accounting norms for political parties in the country.
The norms and guidelines, prepared by the Institute of Chartered Accountants of India (ICAI...
Continue Reading...
Category :
Auditing |
Comments :
0 | Hits : 888
|
|
Service tax exemption to leave advertisers with surplus funds
Posted Date : 19-Mar-2012 , 08:19:58 am | Posted By CASANSAAR
Service tax exemption on advertising on media platforms, excluding TV and radio, could result in availability of up to Rs 1,500 crore more to advertisers for spending on campaigns, according to industry experts."Given that marketing budgets of companies always take into account the service tax ...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 734
|
|
Direct Tax Code likely to become effective from FY'14: Pranab
Posted Date : 19-Mar-2012 , 08:17:07 am | Posted By CASANSAAR
Finance Minister Pranab Mukherjee today expressed hope that the direct tax regime would become effective from 2013-14.
Responding to a query in a post-budget interaction with industry leaders, he said the DTC legislation would be in place in 2012-13, but "effect would be from the next yea...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 702
|
|
Won
Posted Date : 17-Mar-2012 , 10:22:32 pm | Posted By CASANSAAR
Railway Minister Dinesh Trivedi says, he will not resign unless given in writing by Mamata Banerjee. He said he has a Constitutional duty to pilot the Railway Budget he had presented in Parliament. He said, there will be a discussion on Monday and he has to answer the discussion on railway budget.Tr...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 1002
|
|
Taxing unaccounted income not VDIS, say FinMin Secy
Posted Date : 17-Mar-2012 , 10:20:52 pm | Posted By CASANSAAR
The government today maintained it has not come out with any kind of Voluntary Disclosure of Income Scheme (VDIS) by proposing changes in the Income Tax Act, which experts believe are some sort of concessions to tap black money.
"There is no intention of government to give any sop in form ...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 735
|
|
No service tax on metered taxis, amusement facilities, rail travel
Posted Date : 17-Mar-2012 , 10:18:21 pm | Posted By CASANSAAR
As per the budget proposal, metered taxis, entry to amusement facilities, second-class rail travel, and betting, gambling and lottery will not attract the 12 per cent Service Tax.
The negative list of services, on which the increased Service Tax of 12 per cent will not be levied, include a...
Continue Reading...
Category :
Service Tax |
Comments :
0 | Hits : 902
|
|
Jewellers go on strike against duty hike on gold
Posted Date : 17-Mar-2012 , 10:04:49 am | Posted By CASANSAAR
Jewellers across the country will stay closed for three days from Saturday, to protest against the hike in excise duty on gold announced by union finance minister Pranab Mukherjee. The more than 5000 jewellers in Gujarat, including around 1,000 in Ahmedabad, will stay closed along with nearly 5 la...
Continue Reading...
Category :
Budget |
Comments :
0 | Hits : 1230
|
|
|
