Budget 2012 may include DTC norms to avoid Vodafone like disputes
Posted Date : 26-Jan-2012 , 09:09:23 am | Posted By CASANSAAR
To avoid disputes like the Vodafone tax case in future, government is contemplating incorporation of provisions on taxation of overseas deals from the stalled Direct Taxes Code (DTC) Bill in the Budget for 2012-13. "The Direct Taxes Code Bill contains a proposal to tax similar transactions... We...
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Income Tax |
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TRAI grants relief to business houses on 200 SMS limit
Posted Date : 25-Jan-2012 , 10:05:43 pm | Posted By CASANSAAR
The business houses will longer have to worry about the limit of 200 SMS per day per SIM to inform the customers about their services as Telecom Authority of India (TRAI) on Wednesday decided to exempt machine to machine and person to machine messages from the limit of 200 SMS per day per SIM.
&n...
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General |
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Sebi moves Supreme Court against PW in Satyam case
Posted Date : 25-Jan-2012 , 08:01:23 am | Posted By CASANSAAR
Sebi on Monday moved the Supreme Court seeking stay on the sectoral tribunal’s order that allowed audit firm Price Waterhouse to cross-examine the accused in the Rs 7,000-crore Satyam Computer Services scam, including Satyam founder B Ramalinga Raju.
The Securities Appellate Tribunal in Jun...
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SEBI |
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Companies Bill: MPs root for compulsory CSR
Posted Date : 25-Jan-2012 , 07:56:54 am | Posted By CASANSAAR
Members of the standing committee of finance are not happy about the fact that corporate social responsibility (CSR) has not been made mandatory is the Companies Bill. Several queries have been raised by the MPs and ministry of corporate affairs (MCA) has been given 15 days to respond
A cruc...
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Corporate Law |
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Presidential Awards for Officers of Customs & Central Excise and Directorate of Enforcement
Posted Date : 24-Jan-2012 , 08:46:26 pm | Posted By CASANSAAR
The officers of the Customs & Central Excise Department are considered for grant of Presidential Award of Appreciation Certificate for exceptionally meritorious service rendered at the risk of life and specially distinguished record of service on their achieving and maintaining excel...
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Custom |
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New Initiatives under MCA 21 System
Posted Date : 24-Jan-2012 , 08:45:07 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs has established an added facility under MCA 21, integration with Trade Mark Authority recently. The added feature facilitates professional / public to cross verify Company name before applying for ROC approval. In addition, the XBRL reporting format has been in...
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Corporate Law |
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RBI cuts CRR by 50 bps; interest rates unchanged
Posted Date : 24-Jan-2012 , 11:17:02 am | Posted By CASANSAAR
The Reserve Bank of India in its quarterly review meet on Tuesday cut the cash reserve ratio (CRR) by 50 bps to ease tight liquidity pressure in the banking system. RBI kept repo and reverse repo rates unchanged at 8.5% and 7.5% respectively, despite mounting anxiety over slowdown in growth. The...
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RBI |
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CA loses Rs 1.41 lakh in net banking fraud
Posted Date : 24-Jan-2012 , 08:49:42 am | Posted By CASANSAAR
A chartered accountant employed with a Gurgaon-based MNC and resident of Vasant Kunj in New Delhi alleged that he was fleeced of R1.31 lakh through internet banking fraud.
According to victim Harsh Mehta, 27, the money was siphoned off from his salary account in the Gurgaon branch of...
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ICAI |
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Standing committee calls MCA officials to discuss Companies Bill
Posted Date : 24-Jan-2012 , 08:33:10 am | Posted By CASANSAAR
The parliamentary standing committee on finance, which had given its suggestions on the Companies Bill, 2011, has called some officials from the ministry of corporate affairs (MCA) on Tuesday to discuss the draft law, said two persons familiar with the matter, who declined to be named.
Th...
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Corporate Law |
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RBI to review its credit policy today
Posted Date : 24-Jan-2012 , 08:20:46 am | Posted By CASANSAAR
Amid slowing economic growth, the Reserve Bank of India (RBI) is reviewing its credit policy on Tuesday. RBI is not expected to cut interest rates at its review as it remains worried about inflation, but it may cut the cash reserve ratio (CRR) for banks as a way to relieve tight liquidity, a move ...
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RBI |
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Law Ministry seeks more information in ITAT case
Posted Date : 24-Jan-2012 , 08:18:25 am | Posted By CASANSAAR
The Law Ministry is in the process of seeking more information from CBI and other agencies to take a final call on the investigative agency's request seeking sanction to prosecute 20 members of IT tribunal for their alleged role in outsourcing writing of judgements to private individuals to favo...
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Income Tax |
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RBI pitches for reforms to contain fiscal deficit
Posted Date : 24-Jan-2012 , 08:14:44 am | Posted By CASANSAAR
The Reserve Bank today pitched for expediting economic reforms including reduction of subsidy and implementation of DTC and GST to contain the fiscal deficit which is expected to exceed the Budget estimate. "Prospectively, improvement in fiscal situation in 2012-13 is not only contingent upon...
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RBI |
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Corporate Affairs Minister Moily backs strong Company Bill
Posted Date : 23-Jan-2012 , 10:03:47 pm | Posted By CASANSAAR
Union Corporate Affairs Minister Dr. M. Veerappa Moily on Monday said the Company Bill is only a skeleton and stressed the need to develop a mechanism, which will help to maintain transparency and fix accountability among corporate firms.
Dr. Moily said effective corporate governance requ...
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Corporate Law |
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SC asks centre to consider bringing minimum wages under NREGS on par with states
Posted Date : 23-Jan-2012 , 09:57:21 pm | Posted By CASANSAAR
The Supreme Court on Monday asked the Centre to consider bringing the wage under the National Rural Employment Guarantee Scheme (NREGS) on par with minimum wages prevailing in different states. A Bench of Justices Cyriac Joseph and Gyan Sudha Misra asked Solicitor General Rohinton Nariman to ask the...
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General |
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Finance min studies high use of black money in real estate sector
Posted Date : 23-Jan-2012 , 08:44:32 am | Posted By CASANSAAR
The National Institute of Public Finance and Policy (NIPFP) has asked the inspector general of Registration and Controller of Stamps to submit the details of the three highest-value transactions that happened in the last two years in every area in Mumbai and Pune. It has also sought the nu...
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General |
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Companies may have to disclose source of funds coming via preferential allotment of shares
Posted Date : 23-Jan-2012 , 08:41:35 am | Posted By CASANSAAR
The securities market regulator plans to seek details of the source of funds flowing through preferential allotment of shares, a move aimed at deterring promoters from pumping money indirectly through front entities. Two persons familiar with the matter told ET that the Securities and Exchange B...
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Corporate Law |
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Vodafone tax case: CBDT constitutes committee to study SC order
Posted Date : 23-Jan-2012 , 08:37:38 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has constituted a "core committee" of officials to study today's Supreme Court judgement on the Vodafone taxation case.
"The 10-member committee will go through the 275-page order of the Supreme ...
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Income Tax |
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RBI may maintain status quo in its policy review
Posted Date : 22-Jan-2012 , 10:00:31 pm | Posted By CASANSAAR
Overlooking the demand of India Inc to lower interest rates, the Reserve Bank in its policy review may refrain from cutting policy rate as the inflation of manufactured goods is still high.
"I don't see moderation in the interest rate (in the coming policy). CRR (Cash Reserve Ratio) cut I am not ...
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RBI |
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Small savings interest rates will remain fixed: RBI
Posted Date : 21-Jan-2012 , 08:33:05 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) has clarified that interest rates on small savings schemes, except the PPF, will remain fixed throughout the term of schemes. In a circular, RBI said interest rate for small savings will be declared on April 1 every year and will remain valid till the maturity of the ...
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RBI |
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0 | Hits : 820
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Google tops Fortune's list of best companies to work for
Posted Date : 21-Jan-2012 , 08:31:27 pm | Posted By CASANSAAR
Internet giant Google has been named the best company to work for by Fortune magazine, taking the top slot in a list of 100 firms, with employees raving about everything from its work culture to perks like free food at well-stocked pantries. The California-headquartered company climbed three sp...
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International Business |
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Essar may seek $883m tax refund in Vodafone deal
Posted Date : 21-Jan-2012 , 08:28:52 pm | Posted By CASANSAAR
Essar is likely to seek refund of $883 million, the amount deducted as withholding tax related to 22 per cent stake sale by its Mauritius entities in Vodafone Essar, from the I-T department, a day after Vodafone got relief with regard to Rs 11,000 crore tax demand.
Essar is planning to seek a $88...
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Income Tax |
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Need for Appropriate Policy Instruments to Address Areas of Concern in the Economy: FM
Posted Date : 21-Jan-2012 , 07:46:49 am | Posted By CASANSAAR
The Union Finance Minister Shri Pranab Mukherjee has said that on account of the global impact, the Indian economy was facing areas of concern and to address them appropriate policy instruments were required. The Finance Minister Shri Mukherjee was addressing the First meeting of the Consultative Co...
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Finance |
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'Mere filing of IEM is not a clearance of approval'
Posted Date : 21-Jan-2012 , 07:44:14 am | Posted By CASANSAAR
The Government today clarified that the onus for compliance of legal provisions lies on entrepreneurs, even in industries which are exempted from licensing.A press release issued in New Delhi by the Ministry of Commerce and Industry said, mere filing of Industrial Entrepreneurs Memorandum (IEM) even...
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General |
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Sebi imposes penalty of Rs 24 lakh on 17 entities
Posted Date : 21-Jan-2012 , 07:36:41 am | Posted By CASANSAAR
Regulator Sebi has imposed penalty totalling Rs 24 lakh on 17 entities on charges ranging from non-disclosure of acquisition of shares to involvement in fraudulent trade practices in dealing with shares of Platinum Corporation Ltd. In separate orders, Sebi fined Platinum Corporation Promoter and...
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SEBI |
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Service tax to be paid on constructed premises: HC
Posted Date : 21-Jan-2012 , 07:32:38 am | Posted By CASANSAAR
Realty prices in the city and surrounding urban areas are likely to be further escalated with the Bombay high court on Friday holding that service tax is liable to be paid on constructed premises such as flats, shops, etc. The central government has amended the Finance Act of 2009 and has impos...
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Service Tax |
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TRAI directs telecom companies to block international SMSes
Posted Date : 20-Jan-2012 , 09:56:58 pm | Posted By CASANSAAR
Tightening the noose around pesky SMS senders further, the Telecom Regulatory Authority of India (TRAI) today issued a directive to telecom companies to block international SMSes as per the rules applicable to SMSes originating within the country. "If any source or number from outside the country ...
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International Business |
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0 | Hits : 885
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Competition Advocacy is a Critical Function of Competition Agencies- Ashok Chawla, Chairman CCI
Posted Date : 20-Jan-2012 , 07:01:02 pm | Posted By CASANSAAR
The Competition Commission of India (CCI) Chairman Shri Ashok Chawla has pointed out that competition advocacy is a critical function of competition agencies as it has a very important role to play in creating ‘competition culture’ in the economies. Addressing a one day long an internati...
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Corporate Law |
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0 | Hits : 673
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Vodafone wins $2 bn tax case in Supreme Court
Posted Date : 20-Jan-2012 , 01:56:31 pm | Posted By CASANSAAR
The Supreme Court today ruled in favour of Vodafone in the $2 billion tax case saying capital gains tax is not applicable to the telecom major. The apex court also said the Rs 2, 500 crore which Vodafone has already paid should be returned to Vodafone with interest.
The decision, experts said, will...
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International Business |
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0 | Hits : 1721
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Autorickshaw driver's son cracks CA at first attempt
Posted Date : 20-Jan-2012 , 08:25:04 am | Posted By CASANSAAR
Bhavin Mistry, son of an autorickshaw driver, made his father proud as he cleared the Chartered Accountancy (CA) exam in the first attempt. Result of CA final exams was declared on Wednesday. Another Amdavadi lad,Vishvesh Mehta, who is son of a chartered accountant, has ranked seventh in the ...
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Students Zone |
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1 | Hits : 2117
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US companies have to follow law of land, asserts government
Posted Date : 20-Jan-2012 , 08:16:21 am | Posted By CASANSAAR
The government on Thursday said that internet companies 'would have to abide by India's laws' if they want to operate in the country. "We don't believe in censorship of any kind. India firmly believes in democracy and freedom of speech. But as the case is anywhere in the world, any company wishin...
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International Business |
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0 | Hits : 715
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