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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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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0 | Hits : 1449
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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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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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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 : 729
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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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Category :
Income Tax |
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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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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 : 11422
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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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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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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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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 : 739
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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 : 918
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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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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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