Give names of top defaulters, CIC tells RBI
Posted Date : 17-Nov-2011 , 08:06:48 am | Posted By CASANSAAR
The Central Information Commission has directed RBI to reveal names and details of the top 100industrialists who have defaulted on loans from public sector banks. The CIC rejected RBI’s argument that it held the information in fiduciary capacity, and disclosing ...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 770
|
 |
Govt oks changes in PFRDA Bill, allows 26% FDI in pension
Posted Date : 16-Nov-2011 , 03:31:34 pm | Posted By CASANSAAR
The government today approved amendments to the PFRDA Bill 2011 while agreeing to the proposed 26% foreign investment in the pension sector but refrained from providing assured returns to subscribers in the proposed law. The government had decided not to mention FDI cap in the legislation itself f...
Continue Reading...
Category :
Finance |
Comments :
0 | Hits : 1001
|
|
Govt approves amendment to Export-Import Bank Act
Posted Date : 16-Nov-2011 , 03:26:35 pm | Posted By CASANSAAR
The government on Wednesday approved amendments to the Export-Import Bank Act to improve its ability to increase credit to exporters and importers and said it would now be tabled in parliament. The Export-Import Bank of India (Amendment) Bill, 2011 seeks to increase the authorised capital of the&...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 683
|
|
ICAI to check No. of Tax Audit done by Each CA, Soon Members can view tax audit reports uploaded in their name
Posted Date : 16-Nov-2011 , 08:09:23 am | Posted By CASANSAAR
Dear Professional Colleague,
As you must be aware, recently the ICAI had represented before Central Board of Direct Taxes (CBDT) seeking tax audit data based on returns e-filed during the year 2010-11. I would like to inform you that in response to the repr...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 2338
|
|
ICSI to woo students with new infrastructure
Posted Date : 16-Nov-2011 , 08:05:29 am | Posted By CASANSAAR
The Institute of Company Secretaries of India (ICSI) is looking to woo more students by revamping its infrastructure. Chairman of the Southern India Regional Council, B Ravi, said that the centre has improved its infrastructure to make the course more interesting for the students. "We have added m...
Continue Reading...
Category :
ICSI |
Comments :
0 | Hits : 1210
|
|
Employees strike: I-T survey ops hit in Delhi
Posted Date : 16-Nov-2011 , 08:01:43 am | Posted By CASANSAAR
The crucial survey operations conducted by the Income Tax department to detect tax evasion have been severely hit due to a long drawn employees agitation in the national capital.
I-T employees and officials, except those of the Indian ...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 681
|
|
State Oil Companies cut petrol prices by Rs 2.22 a litre in Delhi
Posted Date : 15-Nov-2011 , 08:02:28 pm | Posted By CASANSAAR
Petrol is cheaper by Rs 2.22 a litre in Delhi from Wednesday as state oil firms have decided to cut its rates for the first time in last 33 months under pressure from the ruling Congress, which demand an immediate roll-back of the recent price hike. "Indian Oil has decided to reduce petrol prices...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 743
|
|
Council Guidelines for conversion of CA firms into LLPs
Posted Date : 15-Nov-2011 , 07:44:01 pm | Posted By CASANSAAR
In terms of the Council decision dated 14 July, 2011, following guidelines for conversion of CA firms into LLPs and constitution of separate LLPs by the practicing Chartered Accountants have been finalized which are applicable for conversion of CA firms into LLPs or formation of new...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 886
|
|
Petrol prices slashed by Rs 1.90 per litre from midnight
Posted Date : 15-Nov-2011 , 07:27:13 pm | Posted By CASANSAAR
Petrol is expected to be cheaper by about Rs 1.90 a litre in Delhi from Tuesday midnight as state oil firms have decided to cut its rates for the first time in last 33 months under pressure from the ruling Congress, which demand an immediate roll-back of the recent price hike. Executives of India...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 1103
|
|
Deloitte under ICAI scanner
Posted Date : 15-Nov-2011 , 08:27:11 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India has initiated an inquiry against Deloitte Touche Tohmatsu Ltd over the alleged increase of valuation of Jagati Publications owned by YSR Congress leader Y. S. Jagan Mohan Reddy. Mr G. Ramaswamy, president of ICAI — the regulatory body of charte...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 1483
|
|
RBI cautions on rising NPAs from infra sector
Posted Date : 15-Nov-2011 , 08:25:10 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Monday raised concerns on rising bad loans of Indian banks, especially money given to infrastructure, retail and real estate companies, and said banks are likely to feel more pain from such loans in a high interest rate scenario unless they take “due care&r...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1089
|
|
State cricket federations may soon lose I-T exemption
Posted Date : 15-Nov-2011 , 08:20:22 am | Posted By CASANSAAR
In another blow to cricket federations in the country, Income Tax department has slapped show-cause notices to seven of them, affiliated to the Board of Control for Cricket in India (BCCI), just before withdrawing tax exemption to them. This will put these sporting bodies at par with...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 691
|
|
I-T dept targets 'forced voluntary disclosures'
Posted Date : 15-Nov-2011 , 08:18:06 am | Posted By CASANSAAR
Deciding against bringing in a voluntary disclosure of income scheme (VDIS), the income tax department has decided to use some force in this regard.
A senior Central Board of Direct Taxes (CBDT) official told Business Standard the department had initiated an extensive exercise under which...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 820
|
|
Global banking system is fraught with uncertainties: RBI
Posted Date : 14-Nov-2011 , 09:45:02 pm | Posted By CASANSAAR
The Reserve Bank today said the global banking system is fraught with many uncertainties due to the ongoing sovereign debt crisis in Eurozone and asked for concerted action from both the developed and the emerging economies ...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 917
|
|
2G scam: Rs 1.76 lakh crore loss is a mathematical guess, says lead auditor
Posted Date : 14-Nov-2011 , 09:40:10 pm | Posted By CASANSAAR
The lead auditor of the 2G telecom audit today stuck to his stand that the loss due to spectrum allocation was Rs 2,645 crore and he had signed the final report on the alleged scam on the direction of his superiors.Appearing before the Joint Parliamentary Committee (JPC) going into the 2G ...
Continue Reading...
Category :
Accounts |
Comments :
0 | Hits : 1560
|
|
Bankers ask Kingfisher to infuse Rs 800 cr fresh equity
Posted Date : 14-Nov-2011 , 07:12:52 pm | Posted By CASANSAAR
The Kingfisher Board also had a crucial meeting in Mumbai to work out a debt restructuring plan on the eve of the announcement of its latest financial results. The bankers have asked the troubled airline to come out with a "credible" plan.The lenders--a 13-bank consortium led by SBI, who were yet to...
Continue Reading...
Category :
Finance |
Comments :
0 | Hits : 772
|
|
Crisis in Kingfisher will not impact our balance sheet: SBI
Posted Date : 14-Nov-2011 , 08:21:33 am | Posted By CASANSAAR
The country's largest public sector lender State Bank of India has said the prevailing crisis in Kingfisher Airlines would not have any impact on it's balance sheet due to small exposure to the beleagured company. "We have Rs 12 lakh crore balance sheet and our exposure in Kingfisher Airline was...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 801
|
|
I-T Department to regularise income of Indians with a/cs in HSBC Geneva
Posted Date : 14-Nov-2011 , 08:18:39 am | Posted By CASANSAAR
The income-tax department in Mumbai is all set to regularise the income disclosed by Indians named in the list of unreported account holders with HSBC Bank Geneva, by issuing notices under section 148 of the Income Tax Act. A notice under Section 148 of the I-T Act is usually served when the I-T ...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 799
|
|
Value of cheque transactions down 1.4% in September: RBI
Posted Date : 14-Nov-2011 , 08:16:17 am | Posted By CASANSAAR
The total value of transactions carried out using cheques across the country amounted to Rs7.64 lakh crore in September 2011, down by 1.4% over the same month last year, reports PTI.
Banks had cleared cheques worth Rs7.75 lakh crore in September 2010, according to Reserve Bank of India (RBI) data...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 687
|
|
Kingfisher Airlines woes: UB Group looses over $4 bn market wealth from one-year peak
Posted Date : 13-Nov-2011 , 03:58:18 pm | Posted By CASANSAAR
Billionaire Vijay Mallya-led UB Group, currently in the eye of a storm over troubles at its Kingfisher Airlines, has lost nearly half of its market value from its peak scaled in the past one year. As per the stock exchange data, the combined market value of the group's six listed firms -- K...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 860
|
|
CA aspirant to get marks break-up
Posted Date : 13-Nov-2011 , 09:19:22 am | Posted By CASANSAAR
The high court has vacated its earlier stay on disclosure of marks and answer sheets by the Institute of Chartered Accountants of India, and asked ICAI to give break up of marks secured by a candidate who had sought the same under the Right to Information Act.
HC granted the relief after i...
Continue Reading...
Category :
Students Zone |
Comments :
0 | Hits : 2086
|
|
Industrial Co-operation Bank
Posted Date : 13-Nov-2011 , 09:16:42 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has cancelled the banking licence of Gujarat Industrial Co-operation Bank. The bank’s fate became uncertain after RBI clamped restriction on it due to insolvency.
The only saving grace is that 96 per cent of its depositors hold less than Rs 1 lakh in ...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 708
|
|
DTC Bill unlikely in winter session
Posted Date : 13-Nov-2011 , 09:12:53 am | Posted By CASANSAAR
After it became clear that the Goods and Services Tax (GST) could not be rolled out by the beginning of the next financial year, hopes were being pinned on the implementation of the Direct Taxes Code (DTC) from April 1, 2012. However, with a Parliamentary panel clearly saying it cannot table its r...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1005
|
|
Get trade fair tickets at Metro stations
Posted Date : 12-Nov-2011 , 07:44:33 pm | Posted By CASANSAAR
Tickets for India International Trade Fair's (IITF) business visitors will be available at 26 Metro stations in the capital from Monday while the general public can collect the tickets from all stations from Nov 19.The fair will be open for business visitors Nov 14-18 for which the ticket is p...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 909
|
|
Post office savings, NSC and PPF to fetch better returns now
Posted Date : 12-Nov-2011 , 01:27:29 pm | Posted By CASANSAAR
Your investments in the small savings scheme -- post office savings scheme, National Savings Certificate, and public provident fund - will soon start earning higher interest rates that are benchmarked to market rates. The annual interest rate available on these schemes is at present below what a...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 1139
|
|
New accounting rules to hit realty companies top lines, aims to reduce the discretion
Posted Date : 12-Nov-2011 , 08:48:46 am | Posted By CASANSAAR
In a move that will depress the top line of several leading real estate companies, an upcoming accounting change aims to reduce the discretion available to them on how to compute revenues. The accounting regulator is working on a 'guidance note' that will, for the first time, define when and how ...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 897
|
|
Auditor admits to fudging accounts of Jagan's firms, YSR Congress alleges conspiracy
Posted Date : 12-Nov-2011 , 08:45:01 am | Posted By CASANSAAR
YSR Congress chief Jaganmohan Reddy faces fresh trouble with his auditor, associated with prominent auditing firm Deloitte, admitting cooking books for his firm.
With the Enforcement Directorate (ED) and the Central...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 790
|
|
SEBI allows MFs to participate in repo corp debt securities
Posted Date : 12-Nov-2011 , 08:41:59 am | Posted By CASANSAAR
Market regulator SEBI today allowed mutual funds to invest in repo, or short-term repurchase of forward contract, of corporate debt securities with a ceiling of 10 per cent of the net assets of the concerned scheme. "The gross exposure of any mutual fund scheme to repo transactions in corp...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 703
|
|
No sign of 500,000 signed income tax e-returns
Posted Date : 12-Nov-2011 , 08:40:21 am | Posted By CASANSAAR
If you thought by filing your income tax e-return the job was done, you were mistaken. The income tax department’s latest records show out of nearly 8.17 million e-returns filed without digital signatures for the assessment year 2010-11 till October 31, about 500,000 signed returns (ITR-Vs) ar...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1118
|
|
Vodafone India's tax woes continue as I-T Dept adds Rs 8,500 crore to its income on account of transfer pricing
Posted Date : 12-Nov-2011 , 08:38:03 am | Posted By CASANSAAR
UK- based telecom giant Vodafone, which is fighting a Rs 11,000-crore capital gains tax case in the Supreme Court, could soon face a fresh tax burden in India. The income-tax department has issued a draft transfer pricing order to Vodafone, adding nearly Rs 8,500 crore to its income from India...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 787
|
|
|
