SEBI's QFI norms to curb misuse by resident Indians
Posted Date : 14-Jan-2012 , 07:37:34 am | Posted By CASANSAAR
India's regulators have unveiled rules for direct investment in stocks by foreign investors, including individuals, seeking to put curbs on opaque structures to prevent routing of funds by resident Indians through this window. On January 1, the government decided to allow foreign resident inv...
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SEBI |
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Government to put stress on direct tax collection
Posted Date : 13-Jan-2012 , 09:45:49 pm | Posted By CASANSAAR
Finance Minister Pranab Mukherjee today said stress has to be put on direct tax collection as part of the country's revenue generation exercise. While the amount of direct tax collected last year was Rs 5,96,000 crore, the indirect tax collection was Rs 3,76,000 crore, the minister said. In...
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Income Tax |
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RBI notifies change in single brand retail FDI policy
Posted Date : 13-Jan-2012 , 09:07:43 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) today operationalised the change in FDI policy by removing restrictions on foreign investment limit in single brand retail.
"...it has now been decided that FDI up to 100% would be permitted in single brand product trading under the government route......
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RBI |
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Govt grants sanction to prosecute 21 social networking sites
Posted Date : 13-Jan-2012 , 09:01:08 pm | Posted By CASANSAAR
The Government today granted sanction to prosecute 21 social networking sites for allegedly promoting enmity between classes and causing prejudice to national integration.The Department of Information Technology, in its report, told a Delhi court that there is sufficient material to proceed against ...
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General |
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Result of the Information Systems Audit [ISA] Assessment Test held on 24th December, 2011 is likely to be declared tentatively on 18th January, 2012
Posted Date : 13-Jan-2012 , 08:28:29 am | Posted By CASANSAAR
12th January, 2012
IMPORTANT ANNOUNCEMENT
The result of the Information Systems Audit [ISA] Assessment Test held on 24th December, 2011 is likely to be declared tentatively on 18th January, 2012 around 2.00 PM at the Institute’s office at New Delhi.The result of the above A...
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ICAI |
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SEBI to reform IPO norms to check volatility on listing day
Posted Date : 13-Jan-2012 , 08:26:27 am | Posted By CASANSAAR
Capital markets regulator SEBI on Thursday said it is in the process of reforming the initial public offer (IPO) norms to ensure minimum price volatility on the day of listing. "We are in the process of reforming IPO process which will ensure that much safer process and volatility in the initial ...
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SEBI |
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Know Your Income Tax Refund Status online
Posted Date : 13-Jan-2012 , 08:23:35 am | Posted By CASANSAAR
The Centralised Processing Centre of the income tax Department here has processed over 26 lakh e-filed returns in Forms 1-4 for the assessment year 2009-10. It has determined refunds in over five lakh cases. A release said refunds are being sent through State Bank of...
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Income Tax |
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Taxman freezes AI
Posted Date : 13-Jan-2012 , 08:16:00 am | Posted By CASANSAAR
The service tax department has once again frozen the bank accounts of Air India for non-payment of service tax dues. This is the second time in two months that the Central Board of Excise and Customs has frozen the account of the national carrier.
In December, the department had frozen 11 account...
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Service Tax |
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We can block Facebook, Google like China: Delhi HC
Posted Date : 12-Jan-2012 , 10:24:18 pm | Posted By CASANSAAR
The Delhi high court today warned social networking site Facebook India and search engine Google India that websites can be "blocked" like in China if they fail to devise a mechanism to check and remove objectionable material from their web pages. "Like China, we...
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General |
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Finance Minister holds Moderation in Inflation Would Continue in Coming Months;
Posted Date : 12-Jan-2012 , 09:20:56 pm | Posted By CASANSAAR
The Union Finance Minister Shri Pranab Mukherjee said that he is confident that moderation in inflation would continue in the coming months, though softening in the prices of manufactured goods, despite the rapid decline in non-food primary inflation, may be more gradual. The Finance Minister Shri M...
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Finance |
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MCA asks for Comments/Suggestions for future XBRL Implementation
Posted Date : 12-Jan-2012 , 09:15:09 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs has formed a committee to develop the roadmap for future implementation of XBRL. The committee has its Terms of References as under: A. Identification of class of companies and various reports to be filed in XBRL in Phase-wise manner. B. Development of Tax...
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Corporate Law |
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IT to pull up directors of 'defunct' companies
Posted Date : 12-Jan-2012 , 08:49:33 am | Posted By CASANSAAR
Directors who frequently change the names and addresses of companies in order to evade tax will now become answerable for their actions. The income tax department is identifying directors of such companies, and will make them pay up the tax dues even if they are not attached to the company any mor...
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Income Tax |
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Indirect tax collection up 16.1% to Rs 2.85 lakh cr in Apr-Dec
Posted Date : 12-Jan-2012 , 08:46:37 am | Posted By CASANSAAR
Belying concerns over slowdown, indirect tax collections increased 16.1 per cent to Rs 2,85,787 crore during April-December mainly driven by an uptick in service tax mop-up.
Total collection of indirect tax -- Customs, Central Excise and Service Tax -- was Rs 2,46,168 crore in the same...
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Excise |
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CBI files charge sheet against the then ITAT member
Posted Date : 12-Jan-2012 , 08:40:00 am | Posted By CASANSAAR
CBI has filed a charge sheet before a Kolkata special court against a former member of Income Tax Appellate Tribunal for allegedly colluding with the owners of an accounting firm to deliver favourable orders to its client in lieu of illegal gratification.
...
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Income Tax |
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RBI cracks the whip on overseas banks
Posted Date : 12-Jan-2012 , 08:33:14 am | Posted By CASANSAAR
The regulator said these transactions are partly responsible for sharp depreciation in the rupee against the dollar.
The Reserve Bank of India (RBI) has cracked the whip on some of the large foreign banks in the country for encouraging companies to participate in speculative trades in the...
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RBI |
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Black Money: India to knock at Swiss door for details in HSBC Geneva accounts
Posted Date : 12-Jan-2012 , 08:30:06 am | Posted By CASANSAAR
India will request Switzerland to provide details of all undisclosed accounts held by Indian nationals in HSBC, Geneva, as the investigation into tax evasion by rich Indian nationals becomes bigger. If the Swiss authorities indeed cooperate with India on this, tax authorities here will be able to...
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Income Tax |
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Finance Minister Holds First Pre Budget Consultations with Agriculture Group; Calls for Suggestions to Increase Agriculture Productivity
Posted Date : 12-Jan-2012 , 08:25:45 am | Posted By CASANSAAR
The Union Finance Minister Shri Pranab Mukherjee said that the current year was a challenging one as far as the domestic and the global economy was concerned. The Finance Minister said that the inflation especially the food inflation remained very high during the major part of the year. He said that...
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Finance |
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Results of the Chartered Accountants Final Examination held in November, 2011 and Common Proficiency Test (CPT) held in December, 2011 are likely to be declared on Wednesday, the 18th January, 2012
Posted Date : 11-Jan-2012 , 06:01:52 pm | Posted By CASANSAAR
The results of the Chartered Accountants Final Examination held in November, 2011 and Common Proficiency Test (CPT) held in December, 2011 are likely to be declared on Wednesday, the 18th January, 2012 around 2:00 PM and the same as well as the mer...
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Students Zone |
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Satyam cautious on damages claim against former board, PWC
Posted Date : 11-Jan-2012 , 01:49:02 pm | Posted By CASANSAAR
Mahindra Satyam, formerly Satyam Computer Services, is exercising caution on damages claimed in a suit filed against its former board of directors, certain employees and audit firm PWC to avoid paying a higher non-refundable court fee initially, sources said.
According to sources, the company has...
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Auditing |
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Firm fixed Income Tax tribunal for getting favourable orders passed: CBI
Posted Date : 11-Jan-2012 , 08:03:08 am | Posted By CASANSAAR
The Central Bureau of Investigation (CBI) all set to file chargesheet against a judge of an Income Tax tribunal for colluding to pass favourable orders for a Chartered Accountants firm's clients.
The CBI is said to have collected evidence that a member of the Income Tax Apellate Tribunal (ITAT) c...
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Income Tax |
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Tally Launches E-filing In XBRL Format
Posted Date : 11-Jan-2012 , 07:56:08 am | Posted By CASANSAAR
Tally has released its ERP 9 version 3.3 that offers integrated features to comply with the Ministry of Company Affairs (MCA) filing requirements in XBRL format. "MCA has been progressively including all registered companies to file their annual returns in XBRL format. With many businesses in I...
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Corporate Law |
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Committee for drafting the National Competition Policy
Posted Date : 11-Jan-2012 , 07:50:31 am | Posted By CASANSAAR
Government had constituted a Committee for drafting the National Competition Policy with a view to achieve highest sustainable levels of economic growth, entrepreneurship, employment, higher standards of living for citizens, protect economic rights for just, equitable, inclusive and sustainable econ...
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Corporate Law |
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Announcement for Revision in Fee of Expert Advisory Committee
Posted Date : 11-Jan-2012 , 07:48:06 am | Posted By CASANSAAR
The Council, at its 312th meeting held on 25th to 27th December, 2011, has approved an upward revision in fee charged by the Expert Advisory Committee for giving its opinion. The approved fee is given below:
(i) Rs. 50,000/- per query where the query relates to:
...
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ICAI |
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Govt. notifies 100% FDI in single brand retail
Posted Date : 10-Jan-2012 , 09:40:11 pm | Posted By CASANSAAR
Hundred per cent foreign direct investment in single brand retail has been allowed and it has been made operational with immediate effect. The Commerce Ministry on Tuesday issued a notification to this effect. According to the Ministry press release, this step is aimed at attracting more foreig...
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Finance |
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Price Waterhouse files suit against Ramalinga Raju
Posted Date : 10-Jan-2012 , 03:44:48 pm | Posted By CASANSAAR
A day after Tech Mahindra-acquired Satyam filed a suit against its former Board of Directors, certain employees and Price Waterhouse seeking damages for perpetrating a fraud three years ago, PW officials revealed that they have already filed a similar suit in a Andhra Pradesh court against the sof...
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Auditing |
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Government clears 20 FDI proposals worth Rs 1,935 crore
Posted Date : 10-Jan-2012 , 01:48:22 pm | Posted By CASANSAAR
The government on Tuesday approved 20 foreign direct investment proposals, including that of Sterlite Grid, Equitas Micro Finance and TV Vision, envisaging total investment of Rs 1,935.24 crore. The proposals were cleared following recommendations of the Foreign Investment...
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Finance |
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0 | Hits : 794
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RBI for greater role of CAs in ensuring solvency of banks
Posted Date : 10-Jan-2012 , 09:22:51 am | Posted By CASANSAAR
Seeking to enhance role of auditors in ensuring solvency of banks, the Reserve Bank of India wants chartered accountants to ask pointed questions concerning risk assessment and capital adequacy of lenders. "Auditors will need to move beyond narrow transactions audit consideration to look at t...
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RBI |
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ICAI charges Vadlamani, Srinivas of misconduct
Posted Date : 10-Jan-2012 , 09:17:23 am | Posted By CASANSAAR
Three years after the multicrore Satyam accounting fraud came to light, the Institute of Chartered Accountants of India on Thursday found the chief financial officer of the erstwhile Satyam Computer Services Ltd guilty of professional misconduct.
The ICAI also found Talluri Srinivas, partne...
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ICAI |
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States' Finance Ministers assent to idea of
Posted Date : 10-Jan-2012 , 09:13:57 am | Posted By CASANSAAR
The Empowered Committee of States' Finance Ministers has in-principle given its assent to the idea of a negative list of services mooted by the Centre.The negative list of services includes those services which will not come in the ambit of taxation. AIR correspondent reports that the committee has ...
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Category :
Service Tax |
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0 | Hits : 802
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ICAI Convocation (II) - 2011
Posted Date : 09-Jan-2012 , 08:35:55 pm | Posted By CASANSAAR
The Convocation for the newly enrolled Members admitted during the period April, 2011 to August, 2011 will be held as per schedule given below with a view to inculcate a sense of belongingness and attachment with the Institute.
Region
Date
Place
Venue
Timing
Northern
1...
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ICAI |
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