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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0 | Hits : 1443
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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 : 897
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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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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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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 : 2137
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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 : 727
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SC to pronounce its judgement on Vodafone tax dispute today
Posted Date : 20-Jan-2012 , 08:10:39 am | Posted By CASANSAAR
The Supreme Court will on Friday pronounce its judgement on Vodafone International Holdings' appeal challenging the income tax demand of Rs 11,000 crore on the overseas deal between Vodafone and Hutchison.
Vodafone had moved the apex court challenging the Bombay High Court judgement of September ...
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Income Tax |
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0 | Hits : 798
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ICWAI gets its Name Changed to ICAI and its Members to use ACMA and FCMA
Posted Date : 19-Jan-2012 , 09:07:06 pm | Posted By CASANSAAR
The Institute of Cost and Works Accountants of India (ICWAI) will be henceforth be known as The Institute of Cost Accountants of India (ICAI). The change is a sequel to the passing of of ICWAI Amendment Act 2011, to enable their members to use the designation ACMA and FCMA denoting Associate and Fel...
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ICAI |
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Newly Elected President & Vice President of ICSI
Posted Date : 19-Jan-2012 , 12:17:23 pm | Posted By CASANSAAR
The Institute of Company Secretaries of India (ICSI) has got its new President and Vice President for the year 2012. In an election held in New Delhi today Mr. Nesar Ahmad has been elected as PRESIDENT while Mr. S. N. Ananthasubramanian has been elected as the VICE PRESIDENT.
...
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ICSI |
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0 | Hits : 1275
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CA Final November 2011, CPT December 2011 Examination- List of Toppers, Pass percentage, Analysis year-wise / gender-wise / Region-wise
Posted Date : 19-Jan-2012 , 10:51:59 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) announced the following results
Chartered Accountants Final Examination held in November, 2011.
TCommin Profiency Test (Paper Pencil Mode) held on December 18, 2011.
Since December 1949, the Chartered Accountan...
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Students Zone |
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2 | Hits : 11382
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Education institutions should follow uniform accounting system: ICAI
Posted Date : 19-Jan-2012 , 08:27:33 am | Posted By CASANSAAR
Accounting regulator ICAI has recommended to the Human Resource Development Ministry that all education institutions should follow a uniform system for maintaining their account books, in order to ensure a "true and correct picture" of the state of their affairs. The Institute of Chartered Acco...
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ICAI |
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0 | Hits : 1078
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Government may make declaring of overseas assets details mandatory by taxpayers
Posted Date : 19-Jan-2012 , 08:26:34 am | Posted By CASANSAAR
The government may make it mandatory for all taxpayers to provide details of their overseas assets, including bank accounts, while filing their annual tax returns, as the drive against tax evasion gains momentum. The proposed Direct Tax Code, or DTC, has a provision that seeks to cast an obligat...
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Income Tax |
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0 | Hits : 762
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RBI cracks down on violations by co-operative banks
Posted Date : 19-Jan-2012 , 08:23:10 am | Posted By CASANSAAR
Every four-and-a-half days during this fiscal, at least one cooperative bank has been either penalized or stripped of its licence to operate, as the Reserve Bank of India (RBI) cracks down on rule violations by these banks.
Overall, 73 such banks have either been penalized or asked to shu...
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Banking |
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0 | Hits : 990
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I-T department slaps Rs 1,067-cr tax notice on Bharti Airtel
Posted Date : 19-Jan-2012 , 08:16:48 am | Posted By CASANSAAR
The income-tax department has slapped a 1,067-crore demand notice on Bharti Airtel, the country's largest telco by revenues and customers, for its alleged non-payment of Tax Deducted at Source (TDS) dues in the last four financial years in relation to its overseas operations. Bharti Airtel said ...
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Income Tax |
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0 | Hits : 734
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Govt to address slippages in economic parameters in upcoming Budget: FM
Posted Date : 18-Jan-2012 , 09:55:12 pm | Posted By CASANSAAR
Finance Minister says, the Government will have to address the slippages in economic parameters in the upcoming Budget. Addressing 84th Annual General Meeting of FICCI in New Delhi, Pranab Mukherjee warned that the months ahead are difficult as growth rate may fall below 7.5 per cent. He said there ...
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Finance |
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Income Tax Department Directed to Launch Special Drive for Verifying High Value Transactions
Posted Date : 18-Jan-2012 , 09:26:45 pm | Posted By CASANSAAR
The Central Board of Direct Taxes has directed the Income Tax department to launch a special drive, from 20th January to 20th March 2012, for verifying high value transactions (investments / deposits / expenditure) from persons who are not assessed to income tax or who have not furnished their PAN w...
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Income Tax |
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0 | Hits : 902
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ICAI to probe fund inflows into PwC India
Posted Date : 18-Jan-2012 , 09:23:49 am | Posted By CASANSAAR
Auditing regulator Institute of Chartered Accountants of India (ICAI) on Tuesday said it will look into reports of money inflows into several Pricewaterhouse-Coopers (PwC) India entities, including the group's audit firms Price Waterhouse (PW) and Lovelock & Lewes (LL). ICAI presi...
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ICAI |
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0 | Hits : 954
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ICWAI
Posted Date : 18-Jan-2012 , 09:21:23 am | Posted By CASANSAAR
THE COST AND WORKS ACCOUNTANTS (AMENDMENT) ACT, 2011
(No. 10 of 2012)
[12th January, 2012.]
An Act further to amend the Cost and Works Accountants Act, 1959.
BE it enacted by Parliament in the Sixty-second Year of the Republic of India as follows:—
Short ti...
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ICWAI |
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1 | Hits : 1321
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Laxman Das appointed CBDT Member (Revenue)
Posted Date : 18-Jan-2012 , 09:13:47 am | Posted By CASANSAAR
Senior IRS officer Laxman Das has been appointed as the new Member (Revenue) in the Central Board of Direct Taxes (CBDT).
Mr Das is a 1974-batch Indian Revenue Service (IRS) officer and has held senior positions like that of Chief Commissioner (Income-Tax) in the past.
The portfolio was till now...
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Income Tax |
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0 | Hits : 852
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Essar Oil loses deferred tax payment incentive, faces Rs 6,300 crore burden
Posted Date : 18-Jan-2012 , 09:12:25 am | Posted By CASANSAAR
Essar Oil would have to quickly deposit sales tax of Rs 6,300 crore to the Gujarat government, as the Supreme Court has rejected the company's contention that it was entitled to make deferred payment of tax on sales from its Vadinar refinery in the state. The Gujarat government had argued that E...
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Income Tax |
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0 | Hits : 689
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SBI says it's difficult to lend more to NPA Kingfisher Airlines
Posted Date : 17-Jan-2012 , 09:02:20 pm | Posted By CASANSAAR
State Bank of India on Tuesday said it will be difficult for lenders to provide more funds to debt- ridden Kingfisher Airlines unless the airline pays Rs 100 crore to restore a bank guarantee invoked after the carrier failed to repay its loans or makes good the default. "It (Kingfisher Airlines)...
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Banking |
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0 | Hits : 692
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Gold, silver to become expensive, govt changes duty structure
Posted Date : 17-Jan-2012 , 07:34:17 pm | Posted By CASANSAAR
Gold and silver are set to become more expensive as the government has changed the duty structure on precious metals from specific to value-linked. The change will enable the exchequer to rake in an additional 600 crore rupees during the remaining months of this fiscal. As per the changes, customs a...
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Excise |
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0 | Hits : 1028
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Procedure for Providing Inspection or Certified Copies of Evaluated Answer Books
Posted Date : 17-Jan-2012 , 10:19:11 am | Posted By CASANSAAR
ANNOUNCEMENT
January 12, 2012
Procedure for providing inspection/certified copies of evaluated answer-books to the concerned examinees
1. The procedure laid down hereinafter specifically applies to providing inspection/certified copies of answer books relating to Novem...
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Students Zone |
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0 | Hits : 2514
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Google, Facebook benefit from illegal content: Delhi High Court
Posted Date : 17-Jan-2012 , 08:55:48 am | Posted By CASANSAAR
The High Court on Monday said that websites such as Google and Facebook are liable for the content, posted on their platform by users, as they benefit from the content. Google India's counsel Neeraj Kishan Kaul argued before the Court that the complainant Vinay Rai has failed find out the bloggers...
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International Business |
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0 | Hits : 840
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Profits from offshore supply of IT equipment not taxable: court
Posted Date : 17-Jan-2012 , 08:44:22 am | Posted By CASANSAAR
A recent verdict by the Delhi high court might set a precedent on the taxation of equipment that comprise hardware and software. In a case between Swedish telecom equipment maker Ericsson and the department of income tax, the court held that profits from offshore supply of equipment comprising har...
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Category :
Income Tax |
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0 | Hits : 850
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L&T launches long-term infrastructure bonds
Posted Date : 17-Jan-2012 , 08:42:28 am | Posted By CASANSAAR
Infrastructure bonds are gaining popularity because of the recently introduced tax benefit under 80CCF. Under this Section of the Income Tax Act, an investor can seek tax relief on the investment amount up to 20,000 in long-term infrastructure bonds. After a spate of infrastructure bond issu...
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General |
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0 | Hits : 787
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Vodafone India sets ball rolling for IPO, appoints NM Rothschild
Posted Date : 17-Jan-2012 , 08:39:39 am | Posted By CASANSAAR
UK-based telecom major Vodafone has moved a step further to list its India operations by roping in investment bank NM Rothschild to assist the listing plans. According to sources, Vodafone India has roped in investment bank NM Rothschild to assist the company in its listing plans. When contacted...
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Shares & Stock |
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0 | Hits : 737
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Inflation will come down further: Pranab
Posted Date : 16-Jan-2012 , 08:08:42 pm | Posted By CASANSAAR
The Government has expressed confidence that moderation in inflation will continue in the coming months. Finance Minister Mr. Pranab Mukherjee today said that the headline inflation would be between six and seven per cent by the end of March. Reacting to the decline in monthly inflation to 7.47...
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Finance |
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0 | Hits : 732
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CAs lobby against RBI plan to reduce audits
Posted Date : 16-Jan-2012 , 08:39:00 am | Posted By CASANSAAR
Chartered accountants (CAs) are lobbying hard to protect a source of income that’s at risk of drying up as the Reserve Bank of India (RBI) may allow state-run banks to stop branch audits, a move that could save costs.
Banks are looking for savings as a slowing economy acts as ...
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ICAI |
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0 | Hits : 2108
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