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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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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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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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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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 : 713
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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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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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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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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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Income Tax |
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0 | Hits : 873
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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 : 801
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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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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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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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Govt asks I-T officials to file IPRs by month-end
Posted Date : 16-Jan-2012 , 08:26:39 am | Posted By CASANSAAR
After IAS and IPS officers, the government has now turned its heat on Indian Revenue Service (Income Tax) officers asking them to mandatorily furnish their immovable property returns by this month-end failing which they would be denied promotions. Citing a Department of Personnel and Training (DoPT)...
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Income Tax |
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22 crore Aakash tablets required in future: Government
Posted Date : 15-Jan-2012 , 09:17:58 pm | Posted By CASANSAAR
The government has said it will require an additional 22 crore units of the world's cheapest tablet Aakash to move a step further in its endeavour to merge education with information technology. "Initially, we bought one lakh Aakash tablets but we need 22 crore more tablets in the coming years a...
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General |
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Fin Min to include financing of climate change in the Economic Survey
Posted Date : 15-Jan-2012 , 07:31:19 am | Posted By CASANSAAR
Chief Economic Advisor Kaushik Basu says, the Finance Ministry will include a special chapter on financing of climate change in the Economic Survey. He said this while addressing a UNDP event in New Delhi.As per the 2010-2011 Economic Survey, India's total carbon- dioxide emissions were about 4 per ...
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Finance |
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Chartered Accountants must gear up to face challenges: ICAI President
Posted Date : 14-Jan-2012 , 09:41:10 pm | Posted By CASANSAAR
Institute of Chartered Accountants of India (ICAI) President G. Ramaswamy on Friday urged the Chartered Accountants to gear up to face the number of challenges facing the profession.
Chartered Accountants are facing stiff competition in the form of numerous legislations such as Companies Bill, Go...
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ICAI |
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Fin Min looking for good dividends from PSUs
Posted Date : 14-Jan-2012 , 09:38:06 pm | Posted By CASANSAAR
The Finance Ministry today said, it expects the public sector units to pay good amount of dividend in the current fiscal.Economic Affairs Secretary R Gopalan told reporters in New Delhi, the Ministry is conscious of the fact that they also need resources for their own financing programmes. They also...
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Finance |
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BANK OF BARODA
Posted Date : 14-Jan-2012 , 08:20:22 am | Posted By CASANSAAR
Bank of Baroda is positioning itself to offer a world-class banking experience to its customers around the globe through its innovations in products, services and advanced technology. Towards this end, the Bank is transforming itself into a ‘Technology-enabled Customer-c...
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General |
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RBI sets pay guidelines for executives in private banks
Posted Date : 14-Jan-2012 , 07:41:01 am | Posted By CASANSAAR
The Reserve Bank of India has laid down guidelines for compensation of executives at private and foreign banks aimed at preventing greed from destabilising the institution, with provisions to clawback pay if transactions fail years after origination. The guidelines based on the recommendation...
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RBI |
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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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0 | Hits : 952
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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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0 | Hits : 700
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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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0 | Hits : 1696
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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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