Sebi to review rules after assessing auction window experience
Posted Date : 06-Mar-2012 , 07:59:28 am | Posted By CASANSAAR
The Securities and Exchange Board of India, or Sebi, will assess the experience of issuance of shares by private firms on the newly-introduced auction window before carrying out any review of the rules after last week's share sales by the state-run ONGC. The sale of 5% of ONGC shares was the ...
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SEBI |
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0 | Hits : 719
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Tax all but 35 services, states ask Centre
Posted Date : 06-Mar-2012 , 07:53:05 am | Posted By CASANSAAR
States have no objection to the Centre widening its service tax net in the forthcoming Budget, as long as 35 services like ambulance, beauty parlours, marriage halls, interest on bank deposits, leasing of vehicles and machines are kept out of the ambit of the levy. With a broad consensus e...
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Service Tax |
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0 | Hits : 843
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No new taxes in Haryana Budget
Posted Date : 06-Mar-2012 , 07:50:22 am | Posted By CASANSAAR
The Haryana government presented on Monday the Budget for FY13 where no fresh taxes have been imposed with emphasis on the social sector, even while expressing optimism about attaining revenue surplus by 2013-14 through better tax realisation. The state governement has widened the ambit of the ...
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Income Tax |
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0 | Hits : 724
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Registration of companies or LLPS which have one of their objects is to carry on the profession of chartered accountant, cost accountant, architect, company secretary etc.
Posted Date : 06-Mar-2012 , 07:46:44 am | Posted By CASANSAAR
The Ministry of Corporate Affairs has clarified that at the time of incorporation of companies where one of the objects is to carry on the business of Banking, Insurance or to practice the profession of Chartered Accountancy, Cost Accountancy & Company Secretaries, then the concerned Registrar o...
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Corporate Law |
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0 | Hits : 833
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Stars of CASANSAAR (Reward for the
Posted Date : 05-Mar-2012 , 04:56:43 pm | Posted By CASANSAAR
CASANSAAR the leading name is gaining popularity day by day with the love, affection and dedication of the members associated with the team of team of casansaar.com. We have more than 35000 registered members. Amongst them few are working really hard and showing their extra-ordinary capabilities to ...
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General |
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4 | Hits : 1606
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Tax exemption to those with income up to Rs 5 lakh? No taxpayer can avail this
Posted Date : 05-Mar-2012 , 09:21:07 am | Posted By CASANSAAR
The previous year, just a few weeks before the tax return deadline of 31 July, the Central Board of Direct Taxes (CBDT) exempted those with an income of up to Rs 5 lakh from filing returns. But, as ET Wealth pointed out, the conditions were so restrictive that no one was eligible for the exemp...
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Income Tax |
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0 | Hits : 1178
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Vladimir Putin wins back Russian Presidency
Posted Date : 05-Mar-2012 , 09:12:35 am | Posted By CASANSAAR
Russian Prime Minister Vladimir Putin has won Presidential polls. He secured a record third term in the Kremlin after recording a landslide victory over his four rivals. Exit polls and preliminary results gave him about 60 per cent of the vote, enough to give him a first-round victory over his ...
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International Business |
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0 | Hits : 710
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Lt Gen Bikram Singh is next Army Chief
Posted Date : 03-Mar-2012 , 08:31:55 pm | Posted By CASANSAAR
Ending the suspense, Government today announced the appointment of Lt Gen Bikram Singh as the next Army Chief from May 31 to succeed Gen V K Singh. 59-year-old Lt Gen Singh, the Eastern Army Commander, will head the 13-lakh strong force and have a tenure of just over two years till August...
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General |
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0 | Hits : 916
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States ask centre to hike CST to 4% or compensate adequately
Posted Date : 03-Mar-2012 , 08:13:08 pm | Posted By CASANSAAR
States have asked centre for adequate compensation for their revenue loss due reduction in the Central Sales Tax -CST. Otherwise, the levy should be increased to the earlier rateof 4 per cent. Empowered Committee of the State Finance Minister in New Delhi also finalised a negative list of 35 service...
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GST |
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0 | Hits : 1127
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Service tax dept freezes 40 bank accounts of Kingfisher
Posted Date : 03-Mar-2012 , 03:24:19 pm | Posted By CASANSAAR
The crisis at Kingfisher Airlines escalated further with the Service Tax department here freezing as many as 40 bank accounts of the already crippled airline for non-payment of dues to the tune of Rs 40 crore.
"Over Thursday and Friday, we froze 40 bank accounts of Kingfisher Airlines. They faile...
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Service Tax |
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0 | Hits : 1074
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Budget 2012: Parliamentary panel recommends hiking income tax exemption limit to Rs 3 lakh
Posted Date : 03-Mar-2012 , 08:42:12 am | Posted By CASANSAAR
The Parliamentary standing committee on finance has recommended an increase in basic tax exemption limit to Rs 3 lakh and another Rs 3.20 lakh rebate for eligible investments and spending in its report on the direct taxes code, or DTC. The panel is not for any relief for corporate tax pa...
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Budget |
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0 | Hits : 1277
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SEBI brings bank loan facilities under its ambit
Posted Date : 03-Mar-2012 , 08:37:16 am | Posted By CASANSAAR
The stock market regulator SEBI has brought loan facilities provided by banks under its purview.
These facilities would be instruments such as “other securities/ instruments, loans and facilities” provided by banks that are appraised by credit rating agencies.
This has been done afte...
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SEBI |
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0 | Hits : 917
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Centre, states again spar over compensation for central sales tax losses
Posted Date : 03-Mar-2012 , 08:34:38 am | Posted By CASANSAAR
A fresh row has broken out between states and the centre over the compensation to the states for phasing out the central sales tax that could jeopardize the ongoing deliberations on the proposed goods and services tax (GST). In a strongly worded letter to Union Finance Minister Pranab Mukherjee, ...
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GST |
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0 | Hits : 821
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Construction completed on world's tallest tower, the Tokyo Sky Tree
Posted Date : 02-Mar-2012 , 10:41:51 pm | Posted By CASANSAAR
The Tokyo Sky Tree, the world's tallest self-supported tower, has been completed. The structure is 634 metres high, and now dominates the Sumida ward skyline in northeastern Tokyo.
It beats out the 600m tall Canton Tower in China, and Canada's 553m tall CN Tower. It's also the planet's secon...
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International Business |
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0 | Hits : 939
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Microsoft unveils Windows 8 for public test
Posted Date : 02-Mar-2012 , 08:59:18 am | Posted By CASANSAAR
Microsoft Corp has unveiled the first widely available test version of Windows 8, giving the public the first chance to try out the slick, new-look operating system it hopes will restore the company's fading tech supremacy.
Windows 8, as the first Microsoft operating system compatible with low-po...
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International Business |
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0 | Hits : 1056
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MCA orders of inspection of DLF books under Section 209 of the Companies Act.
Posted Date : 02-Mar-2012 , 08:12:38 am | Posted By CASANSAAR
The Corporate Affairs Ministry has ordered inspection into the books of accounts of realty major DLF in view of complaints received from investors regarding company's accounts."We have ordered the Regional Director (North) to carry out inspection under Section 209 of the Companies Act. There were se...
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Corporate Law |
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0 | Hits : 979
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Centre raises tariff value on gold, silver
Posted Date : 02-Mar-2012 , 08:09:59 am | Posted By CASANSAAR
In the wake of rising global prices of precious metals, the government on Thursday hiked the tariff value of gold and silver to $573 per ten gram and $1145 per kg, respectively.
The tariff value, which is released fortnigthly, is the base price on which the customs duty is determined to p...
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Excise |
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0 | Hits : 809
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LIC launches single-premium insurance plan
Posted Date : 02-Mar-2012 , 08:04:17 am | Posted By CASANSAAR
Life Insurance Corporation of India has launched a limited-offer single-premium policy which promises to nearly double the premium amount at the end of 10 years. The policy, which works like a bond, also provides life insurance of up to five times the premium paid. Similar policies offere...
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General |
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0 | Hits : 973
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Rs 15 Cr Penalty Collected From Tax Evaders
Posted Date : 01-Mar-2012 , 05:34:13 pm | Posted By CASANSAAR
The Trade and Taxes department of Delhi Government has collected over Rs 15 crore as penalty from various VAT tax evaders between April to December this fiscal against around Rs 3.5 crore in the corresponding period of 2010-11.Tax officials said the four-fold increase in collection of tax penalty co...
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Income Tax |
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0 | Hits : 751
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Govt approves buyback of PSU shares to expedite disinvestment
Posted Date : 01-Mar-2012 , 01:57:26 pm | Posted By CASANSAAR
Hard pressed for funds, the government on Thursday approved the proposal for expediting disinvestment through the buyback route under which blue chip state-owned companies will buy its stake. The decision to allow Public Sector Undertakings (PSUs) to buyback shares was taken by the Ca...
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Finance |
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0 | Hits : 856
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Cabinet approves amendments to Motor Vehicle Act
Posted Date : 01-Mar-2012 , 01:55:31 pm | Posted By CASANSAAR
Soon, traffic rule violators will have to cough up hefty penalties - almost 10 times more than what they pay now - for offences such as overspeeding and drunk driving. The Union cabinet has approved the proposed Motor Vehicle Amendment Bill, the legislation that regulates road transport in the count...
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Income Tax |
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0 | Hits : 996
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HC raps CA for trying to save illegal building
Posted Date : 01-Mar-2012 , 07:39:42 am | Posted By CASANSAAR
A chartered accountant who knocked at the doors of the Madras high court to reopen his sealed unauthorized building found himself at the receiving end with the court ordering initiation of criminal proceedings against him.M R Badrinarayana, a resident of Shanthi Colony in Anna Nagar, first...
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ICAI |
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0 | Hits : 1060
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Reserve Bank asks banks to focus on recoveries of non-performing assets
Posted Date : 29-Feb-2012 , 06:59:00 pm | Posted By CASANSAAR
The Reserve Bank of India has asked Indian banks to focus on recoveries, bankers said after a Wednesday meeting with the central bank.
However, the consensus was that non-performing assets are at manageable levels, bankers said after the meeting which also covered implications of Basel-III norms ...
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Banking |
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0 | Hits : 1016
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CAG can play vital role in dealing with economic crisis:Rai
Posted Date : 29-Feb-2012 , 06:55:18 pm | Posted By CASANSAAR
Auditors can play an important role in helping countries deal with economic crises by suggesting mid-course corrections, Comptroller and Auditor General (CAG) of India Vinod Rai said Wednesday."These are momentous times in the histories of many nations. New paradigms are evolving in the political sy...
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CAG |
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0 | Hits : 884
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Promising Times for Chartered Accountants
Posted Date : 29-Feb-2012 , 08:48:26 am | Posted By CASANSAAR
These are exciting yet challenging times for Indian chartered accountants. The year 2012 will be an eventful year for Indian accountantcy profession if both external and internal developments are any indication. World economy is in turmoil and is casting its shadow on India, thereby putt...
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Category :
ICAI |
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0 | Hits : 1290
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Woman sales tax officer, CA jailed for bribery
Posted Date : 29-Feb-2012 , 08:33:58 am | Posted By CASANSAAR
A former woman sales tax officer and a chartered accountant, who gave her Rs 1,500 in bribe to settle a case, were sentenced to upto three years in jail by a Delhi court which said professionals like doctors and CAs are held in high esteem and should not indulge in corruption. Special Judge B...
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VAT |
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1 | Hits : 2046
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I-T dept should protect human rights during raids: Patna HC
Posted Date : 29-Feb-2012 , 08:25:14 am | Posted By CASANSAAR
Income Tax (I-T) officials should ensure no harassment is caused to the family during raids. Patna high court recently issued an order to this effect while upholding Bihar’s human rights commission's direction.
The court also instructed the tax authority (income tax in this ...
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Income Tax |
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1 | Hits : 735
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High court says I-T department filing appeals
Posted Date : 29-Feb-2012 , 08:20:00 am | Posted By CASANSAAR
The Karnataka High Court, in a recent judgement, passed strictures on Income-Tax (I-T) department for filing repeated appeals and wasting taxpayers’ money. “It seems that the (I-T) department is filing these appeals mechanically—either for the purpose of statistics or to save their...
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Category :
Income Tax |
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0 | Hits : 943
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Audit firms Deloitte Touche Tohmatsu, PWC, Ernst & Young and KPMG in China facing major reorganisation
Posted Date : 29-Feb-2012 , 08:16:37 am | Posted By CASANSAAR
The 'Big Four' international audit firms face a major re-organisation in China as they are forced to abandon their foreign joint venture arrangements. Following are facts about the Big Four accounting firms' China practices. Deloitte Touche Tohmatsu Deloitte opened its first office in Shanghai in...
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Category :
Auditing |
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2 | Hits : 1527
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Sebi allows fund managers to manage both domestic, overseas money
Posted Date : 29-Feb-2012 , 08:13:54 am | Posted By CASANSAAR
Market regulator Sebi has allowed fund managers to manage both domestic and overseas money across all their activities, including mutual funds, offshore and portfolio management service. Last year, the regulator, while allowing asset management companies to share back-end resources, had sai...
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SEBI |
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0 | Hits : 703
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