Government proposes taxing Vodafone-like deals retrospectively
Posted Date : 16-Mar-2012 , 06:59:03 pm | Posted By CASANSAAR
In a measure that will have far- reaching impact on foreign investment and the Vodafone case having a tax implication of Rs 11,000 crore, the government today proposed amendment in the Income Tax Act retrospectively from April 1, 1962. Under the proposed amendment, all persons, whether resident ...
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Income Tax |
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Budget at a Glance (Complete Budget)
Posted Date : 16-Mar-2012 , 06:28:28 pm | Posted By CASANSAAR
Budget at a Glance [EXCEL]
Receipts [EXCEL]
Expenditure [EXCEL]
Central Plan Outlay [EXCEL]
Central Plan Outlay by Sectors...
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Budget |
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Budget 2012: TDS on property, gold sales to check black money
Posted Date : 16-Mar-2012 , 06:21:11 pm | Posted By CASANSAAR
To check the menace of black money, the government on Friday proposed a slew of measures, including I-T return assessment up to 16 years with regard to assets held abroad and tax deduction at source (TDS) on transfer of immovable property and gold purchase.
"I propose a series of measures to dete...
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Income Tax |
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Sachin Tendulkar finally hits 100th international century
Posted Date : 16-Mar-2012 , 05:42:09 pm | Posted By CASANSAAR
Indian cricket icon Sachin Tendulkar, treated like God by his fans, ended the long and tiring wait for his 100th international century on Friday at Dhaka's Shere Bangla National Stadium. Tendulkar, the leading run scorer in the history of both Test and one-day cricket, achieved the mo...
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General |
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One Page Common Return for Central Excise and Service Tax Proposed
Posted Date : 16-Mar-2012 , 03:24:00 pm | Posted By CASANSAAR
As a measure of harmonization between Central Excise and Service Tax, the Government has made a number of alignments. This was announced by the Finance Minister ShriPranab Mukherjee while presenting the Union Budget 2012-13 in LokSabha today.
These include a common simplified registration ...
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Service Tax |
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Union Budget Focuses on Rationalisation Measures in Indirect Taxes
Posted Date : 16-Mar-2012 , 03:18:01 pm | Posted By CASANSAAR
Presenting the General Budget for 2012-13 in LokSabha today, the Union Finance Minister ShriPranab Mukherjee has announced various rationalization measures like - Excise duty rationalized for packaged cement, whether manufactured by mini-cement plants or others. - Levy of excise duty of 1 ...
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General |
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To Promote Investment, Weighted Deduction for Expenditure in R&D and AGRI-Extension Services Proposed Sunset Date for Tax Exemption in Power Sector Extended
Posted Date : 16-Mar-2012 , 03:16:23 pm | Posted By CASANSAAR
In the General Budget 2012-13 presented by the Union Finance Minister ShriPranab Mukherjee in LokSabha here today, it has been proposed to provide weighted deduction for expenditure in several sectors with the objective of promoting investment and facilitating growth.
&nb...
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Income Tax |
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STT Proposed to be Reduced by 20 % & Levy of Alternate Minimum Tax Proposed to be Extended
Posted Date : 16-Mar-2012 , 03:14:20 pm | Posted By CASANSAAR
In the General Budget 2012-13presented by theUnion Finance Minister ShriPranab Mukherjeein LokSabha here today, it has been proposed to reduce the Securities Transaction Tax (STT) on cash delivery transactions by 20 per cent, from 0.125 per cent to 0.1 per cent, in or...
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Income Tax |
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Rajiv Gandhi Equity Savings Scheme Launched
Posted Date : 16-Mar-2012 , 03:12:31 pm | Posted By CASANSAAR
A new scheme called Rajiv Gandhi Equity Savings scheme is proposed in the Union Budget 2012-13 to encourage flow of saving in financial instruments and improve the depths of domestic capital market. The Union Finance Minister ShriPranab Mukherjee in his Budget speech in LokSabha today said that...
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Income Tax |
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Service Tax Exempted for Items on Negative List
Posted Date : 16-Mar-2012 , 03:01:09 pm | Posted By CASANSAAR
Health Care, Services Provided by Charities, Religious Persons, Independent Journalists, Sportspersons Among Others also Exempted from Service Tax
In his Budget Speech, the Union Finance Minister ShriPranab Mukherjee said that the Government has proposed to tax all services except...
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Service Tax |
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Union Budget 2012-13 Summary
Posted Date : 16-Mar-2012 , 02:57:57 pm | Posted By CASANSAAR
GENERAL BUDGET 2012-13
BUDGET IDENTIFIES FIVE OBJECTIVES RELATING TO GROWTH, INVESTMENT, SUPPLY BOTTLENECKS,
GOVERNANCE, AND REMOVING MALNUTRITION
AMENDMENT TO FRBM ACT INTRODUCED AS PART OF FINANCE BILL
...
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Budget |
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Budget 2012
Posted Date : 16-Mar-2012 , 02:44:32 pm | Posted By CASANSAAR
I. RATE OF SERVICE TAX:
1) The rate of service tax is being increased from 10% to 12%.
2) Consequent to change in the rate of service tax, changes are also being made in specific and compounding rates of tax for the following:
a) Service in relation to purchase and sale...
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Service Tax |
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Finance Bill 2012 (Chapter I to Chapter VII)
Posted Date : 16-Mar-2012 , 02:00:50 pm | Posted By CASANSAAR
Chapter I
Preliminary
Chapter II
Rates of Income Tax
Chapter III
Income Tax
Wealth Tax
Chapter IV
Customs
Excise
Chapter V
Service Tax
Chapter VI
Amendments to the FRBM Act, 2003
Chapter VII
...
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Income Tax |
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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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