Goods and Services Tax rollout likely to miss April 1 deadline
Posted Date : 29-Nov-2011 , 08:08:49 am | Posted By CASANSAAR
While the issue of FDI in retail has paralyzed the Winter session of Parliament, the Empowered Group of state finance ministers met here on Monday and indicated that the Centre's failure to compensate them on Central Sales Tax (CST) among other pending issues would jeopardize the rolling out of indi...
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GST |
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25 companies call-off IPOs due to sluggish market
Posted Date : 29-Nov-2011 , 08:07:07 am | Posted By CASANSAAR
Owing to a sluggish trend in the stock market, at least 25 companies have called off their Initial Public Offer plans so far in 2011, a report has said. Mostly from the real estate and power sectors, these 25 IPOs (Initial Public Offers) were together estimated to raise about Rs 31,000 crore wort...
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Shares & Stock |
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0 | Hits : 664
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India Inc appeals political parties to support FDI in retail
Posted Date : 29-Nov-2011 , 08:05:08 am | Posted By CASANSAAR
India Inc said political parties should reach a consensus on the government's decision to open the multi-brand sector to foreign investment. "We will request political parties to support the government's decision as it would help SMEs... There should be a minimum sort of an agreement in such are...
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International Business |
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0 | Hits : 705
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New Companies Bill may retain contentious provisions
Posted Date : 28-Nov-2011 , 08:41:12 am | Posted By CASANSAAR
The government is likely to retain various contentious provisions in the new Companies Bill, like fixed term for independent directors and rotation of auditors every five years, despite concerns raised by industry
In the final draft of Companies Bill 2011, the Corporate Affairs Ministry i...
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Corporate Law |
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0 | Hits : 773
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India and Nepal to Sign Revised Double Taxation Avoidance Agreement
Posted Date : 27-Nov-2011 , 11:42:27 am | Posted By CASANSAAR
Double Taxation Avoidance Agreement (DTAA) between India and Nepal will be signed tomorrow by the Finance Ministers of both the countries in Kathmandu. This Agreement (DTAA) would replace an earlier Agreement between two countries which was signed way back in 1987. The Union Finance Minister Shri Pr...
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Income Tax |
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0 | Hits : 680
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Delhi court orders FIR against Kiran Bedi.
Posted Date : 26-Nov-2011 , 06:13:00 pm | Posted By CASANSAAR
A Delhi court on Saturday ordered registration of FIR against former IPS officer Kiran Bedi for allegedly cheating and misappropriating funds in collusion with foreign companies and other foundations.Additional Chief Metropolitan Magistrate Amit Bansal directed the crime branch of Delhi Po...
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Income Tax |
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0 | Hits : 995
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India needs more CAs
Posted Date : 26-Nov-2011 , 07:57:36 am | Posted By CASANSAAR
There is a huge demand for Chartered Accountants (CA) and it is estimated that India will require another 5 lakh CAs by 2020.This was stated by C A Shanmukh Sundaram, chairman of Southern India RegionalCouncil of The Institute of Chartered Accountants of Ind...
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ICAI |
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No cases against German bank account holders: CBI to CBDT
Posted Date : 26-Nov-2011 , 07:54:21 am | Posted By CASANSAAR
CBI is understood to have communicated to the Central Board of Direct Taxes that none of the individuals whose names figure in the LGT Bank accounts for stashing illegal funds abroad has any pending CBI cases against them. The list of 18 individuals was provided to the CBI by the CBDT to ...
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Income Tax |
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0 | Hits : 688
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Payments crisis: RBI allows Iranian central bank to open A/Cs with UCO and IDBI
Posted Date : 25-Nov-2011 , 08:28:38 pm | Posted By CASANSAAR
In an effort to resolve a long-standing payment crisis, the Reserve Bank of India (RBI) has given permission to the Central Bank of Iran to open rupee accounts with two Indian banks, namely UCO and IDBI. "Permission from the RBI has very recently come to open rupee accounts with two Indian banks...
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International Business |
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0 | Hits : 760
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18 Proposals of Foreign Direct Investment Amounting to ` 2126.20 Crore Approved
Posted Date : 25-Nov-2011 , 08:19:39 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on November 15, 2011, Government has approved 18 Proposals of Foreign Direct Investment amounting to ` 2126.20 crore ap...
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Finance |
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Comprehensive Competition Reforms at Centre State and Sub-State Levels will be Defining Moment in India: Moily
Posted Date : 25-Nov-2011 , 08:18:33 pm | Posted By CASANSAAR
The time has come for all the stakeholders in the growth of Indian economy to come forward and launch a national movement to build a culture of competition so as to promote innovation, entrepreneurship and inclusive growth and to be part in ushering second generation of reforms. This was stated by t...
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Corporate Law |
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0 | Hits : 652
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Cabinet clears Companies Bill providing for stricter corporate norms
Posted Date : 25-Nov-2011 , 08:41:55 am | Posted By CASANSAAR
Union Cabinet on Thursday approved the Companies Bill. Top official sources said that the bill is likely to be tabled in the current session of Parliament. The Bill provides for stricter corporate governance norms. Once approved by Parliament, it will replace the Companies Act of 1956. Among other t...
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Corporate Law |
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0 | Hits : 1152
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100cr income tax seizure from coal dealer
Posted Date : 25-Nov-2011 , 08:38:56 am | Posted By CASANSAAR
Income tax officials have seized Rs 100 crore deposited in 13 different accounts of Ana branch of Bank of India at Jharia after searches at the residences of contractor and coal dealer Lal Babu Singh, alias Lal Bahadur Singh, concluded at the Shimla Bahal area on Thursday morning. The inco...
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Income Tax |
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1 | Hits : 990
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India Signs an Agreement with Eurasian Group (EAG) to Enhance Cooperation in Areas of Money Laundering and Terrorist Financing
Posted Date : 25-Nov-2011 , 08:36:46 am | Posted By CASANSAAR
India signed an Agreement with the Eurasian Group(EAG) today to inter-alia enhance cooperation in the areas of Money laundering and Terrorist Financing. The Cabinet had approved the agreement earlier this month. The agreement was signed by Dr. Thomas Mathew, Joint Secretary (Capital Markets) Divisio...
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International Business |
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0 | Hits : 756
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NCLT & NCLAT to replace CLB
Posted Date : 25-Nov-2011 , 08:36:00 am | Posted By CASANSAAR
The Government proposes to set up National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) which will replace Company Law Board, Board for Industrial and Financial Reconstruction and Appellate Authority for Industrial and Financial Reconstruction.Provisions regarding ...
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Corporate Law |
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0 | Hits : 1104
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Cabinet clears 51% FDI in multi-brand retail & single-brand 100% in
Posted Date : 24-Nov-2011 , 08:59:50 pm | Posted By CASANSAAR
The government on Thursday approved 51 percent FDI in multi-brand retail and 100 percent in single-brand, a decision that will allow global mega chains like Walmart, Tesco and Carrefour to open outlets in India.Seen as a major boost to improve the situation of policy paralysis that continue to haunt...
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International Business |
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Govt sends reminder to ICAI as only 7% cos shift to new reporting format
Posted Date : 24-Nov-2011 , 02:48:05 pm | Posted By CASANSAAR
The government has asked the accounting regulator to remind companies that they have only a week left for switchover to the new financial reporting format, after data showed less than 7% of companies had complied till a week ago. All listed companies and some unlisted ones are required to file th...
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ICAI |
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0 | Hits : 1306
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Are You eligible for a Loan.? Find your creditworth online for Rs 450
Posted Date : 24-Nov-2011 , 09:01:01 am | Posted By CASANSAAR
For Rs 450, individuals can now get a copy of their credit history and credit score - the document which in recent years has become an important determinant of whether an individual is eligible for a loan on not. On Wednesday, Credit Information Bureau of Indi...
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General |
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1 | Hits : 1245
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Revised Companies Bill to be taken up by Cabinet today
Posted Date : 24-Nov-2011 , 08:58:06 am | Posted By CASANSAAR
The corporate affairs ministry has yielded to the demands of the Finance Ministry and has delegated the power to deal with cases of insider trading and forward dealings in listed companies to the Securities and Exchange Board of India (Sebi) under the revised Companie...
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Corporate Law |
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0 | Hits : 850
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CA employee robbed of 3 lakh
Posted Date : 24-Nov-2011 , 08:56:19 am | Posted By CASANSAAR
An accountant was looted of Rs 3 lakh outside his office in Athwalines area on Monday when he was about to enter the office. The victim is employed in a chartered accountancy firm in Athwalines near Seventh Day School.
&...
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General |
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0 | Hits : 1081
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New format of the quarterly report to be submitted by the students - ICSI
Posted Date : 24-Nov-2011 , 08:53:48 am | Posted By CASANSAAR
Attention Students
The Training & Educational Facilities Committee of the Council has approved the new format of the quarterly report to be submitted by the students. Students undergoing 15 months training or part training with Companies, PCS, MCA,ROC,RD,OL ,Fi...
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Students Zone |
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0 | Hits : 1164
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RBI hikes Interest Rates on NRE and FCNR(B) Deposits
Posted Date : 24-Nov-2011 , 08:51:02 am | Posted By CASANSAAR
Interest Rates on Non-Resident (External) Rupee (NRE) Deposits
In view of the prevailing market conditions, it has been decided that until further notice and with effect from close of business in India as on November 23, 2011, the interest rates on Non- Resident (Ext...
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RBI |
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I-T Dept taking punitive steps to check black money menace: FM
Posted Date : 24-Nov-2011 , 08:49:18 am | Posted By CASANSAAR
Under attack from various quarters on the issue of black money, Finance Minister Pranab Mukherjee said the Income Tax Department has taken several punitive and deterrent measures to tackle the problem. "The Income Tax Department takes several punitive and deterrent steps to unearth unaccounted m...
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Income Tax |
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0 | Hits : 613
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FII withdrawal, weak rupee responsible for market crash: Pranab
Posted Date : 24-Nov-2011 , 08:45:25 am | Posted By CASANSAAR
Finance Minister Pranab Mukherjee on Wednesday attributed the stock market crash to withdrawal of funds by foreign investors and depreciation of the rupee. Mr. Mukherjee told reporters in Delhi that, Markets have crashed because of continuous withdrawal of funds by Foreign Institutional Investors.He...
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Shares & Stock |
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0 | Hits : 737
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RBI directs cooperative banks not to process over 3-month old cheques
Posted Date : 23-Nov-2011 , 08:14:48 pm | Posted By CASANSAAR
RBI has directed cooperative banks not to make payments on cheques and other financial instruments that are over three months old from next fiscal. "RBI directs that with effect from April 1, 2012, banks should not make payment of cheques/drafts/pay orders/banker's cheques bearing that date or an...
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Banking |
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0 | Hits : 770
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Tata successor announced: Cyrus Mistry to succeed Ratan Tata
Posted Date : 23-Nov-2011 , 06:20:25 pm | Posted By CASANSAAR
Cyrus Mistry has been selected as head of India’s powerful Tata Group of companies. The 42-year-old will shadow Ratan Tata, who chairs the business and is recognised as one of the world’s most important industrialists, for a year in the role of deputy chairman. He is expected to t...
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General |
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0 | Hits : 1146
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2G case: SC grants bail to 5 corporate executives
Posted Date : 23-Nov-2011 , 03:50:51 pm | Posted By CASANSAAR
In the first bail in 2G case, the Supreme Court today ordered the release of five top corporate executives from Tihar Jail, raising hopes of other accused in the case including former Telecom Minister A Raja and DMK MP Kanimozhi who have been in prison for over six months. A bench comprising jus...
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General |
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0 | Hits : 733
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Outside party to audit MCD
Posted Date : 23-Nov-2011 , 03:06:23 pm | Posted By CASANSAAR
Embroiled in multiple allegations of graft, the Municipal Corporation of Delhi (MCD) has decided to hire professional consultant for the preparation of its annual financial statement. Also, court orders have made it mandatory for the civic body to have an outside party doing the audit so that ...
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Auditing |
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0 | Hits : 882
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PSU banks under MCA scanner for easing loan norms for private companies
Posted Date : 23-Nov-2011 , 08:09:10 am | Posted By CASANSAAR
Some state-run lenders and private companies are under scanner of the corporate affairs ministry after allegations that these firms in collusion with bank officials misappropriated bank loans to generate cash among their subsidiaries and inflate enterprise value. "There were allegations that ba...
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Corporate Law |
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0 | Hits : 1060
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Employees can't be forced to work under new management: Supreme Court
Posted Date : 23-Nov-2011 , 08:06:05 am | Posted By CASANSAAR
Employees cannot be compelled to work under a new management and are entitled to retirement or retrenchment benefits, the Supreme Court has held. The apex court rejected the argument of Philip's India Ltd that since the employees had neither retired nor retrenched, hence the...
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General |
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0 | Hits : 1155
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