SBI raises deposit rates on NRE and FCNR accounts
Posted Date : 02-Dec-2011 , 08:34:22 am | Posted By CASANSAAR
The country's largest lender SBI has raised interest rates on Foreign Currency Non-Resident (FCNR) accounts and Non Resident-External rupee term deposits accounts by 5-15 basis points in order attract higher foreign deposit. While the public sector lender has raised interest rates by 12-15 basis...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 797
|
 |
Panel on curbing black money gets 2-month extension
Posted Date : 02-Dec-2011 , 08:29:13 am | Posted By CASANSAAR
The government has given a two-month extension to the term of the Central Board of Direct Taxes (CBDT) committee that is examining ways to strengthen laws to curb the generation of black money in the country, its illegal transfer abroad and its recovery.
The panel was originally given tim...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 692
|
|
Life insurers with 10 years of operations can go public: IRDA
Posted Date : 02-Dec-2011 , 08:25:52 am | Posted By CASANSAAR
The much-awaited norms for public issues of life insurance companies have been notified in the Gazette by the Insurance Regulatory and Development Authority.
As per the norms, only those companies which completed 10 years of operations can apply for permission to go for public issues.
Before fil...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 810
|
|
Parliament adjourned for 8th day on FDI, PM meets UPA allies
Posted Date : 01-Dec-2011 , 02:42:19 pm | Posted By CASANSAAR
The stalemate in Parliament over FDI in retail and other issues led to adjournment of both Lok Sabha and the Rajya Sabha for the eighth consecutive day today. When the Houses re-assembled at 12.00 Noon, similar noisy situation prevailed. Lok Sabha was adjourned following uproar over the issue o...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 1043
|
|
PPF to earn higher returns from Dec 1
Posted Date : 01-Dec-2011 , 08:16:52 am | Posted By CASANSAAR
The finance ministry has notified rules which will pave the way for small savings account holders to earn higher returns from December 1. Earlier this month, the government had accepted the recommendations of a panel which would help investors earn higher interest on sm...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 1334
|
|
FDI in retail: 5 crore traders to down shutters today
Posted Date : 01-Dec-2011 , 08:11:50 am | Posted By CASANSAAR
Several Bharti-Walmart storeswill remain closed on Thursday as a precautionary measure due to the bandh called by traders across the country, sources said.World's second largest retailer Carrefour, which is present in the wholesale segment in the country, also beefed up security at its stores i...
Continue Reading...
Category :
International Business |
Comments :
0 | Hits : 985
|
|
IRDA's guidelines on web aggregators
Posted Date : 01-Dec-2011 , 08:08:43 am | Posted By CASANSAAR
Recently, the Insurance Regulatory and Development Authority (Irda) announced two online initiatives that could be of interest to insurance-seekers. The first one is the extensive guidelines pertainining to web aggregators and the other is the launch of a mobile application to compare unit...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 722
|
|
Draft Public Procurement Bill, 2011 ; Comments and Suggestions Sought by 24th December, 2011
Posted Date : 01-Dec-2011 , 08:05:15 am | Posted By CASANSAAR
urrently there is no overarching legislation governing public procurement by the Central Government and Central Public Sector Enterprises (CPSEs). The General Financial Rules, 2005 govern procurements made by the Central Government. Some Ministries/ Departments have specific ...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 722
|
|
Posted Date : 01-Dec-2011 , 07:55:40 am | Posted By CASANSAAR
Foreign healthcare services firms are not liable for tax in India as payments for such services cannot be construed as royalty, according to a ruling by a Mumbai tax tribunal. The order by the Income Tax Appellate Tribunal (ITAT) was in response to the income tax department's position that forei...
Continue Reading...
Category :
Service Tax |
Comments :
0 | Hits : 1105
|
|
Vodafone broke FDI cap in Hutch deal, breach continues, says CBDT
Posted Date : 01-Dec-2011 , 07:52:30 am | Posted By CASANSAAR
A new controversy is set to cloud the telecom sector and queer the pitch for Vodafone in the R11,000 crore tax appeal before the Supreme Court. According to a note prepared by the Central Board of Direct Tax for the Foreign Investment Promotion Board, which has the approval of the finance secreta...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1048
|
|
Petrol prices slashed by 78 paise per litre
Posted Date : 30-Nov-2011 , 10:00:37 pm | Posted By CASANSAAR
Petrol price has been slashed by 78 paise, a litre in Delhi. Petrol in Delhi will cost 65.64 rupees per litre against the present 66.42. This will come in to force from midnight tonight.Petrol will cost 82 paise less in Kolkata and Mumbai and 83 paise less in Chennai. This is the second reduction in...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 1088
|
|
Satyam staff fined Rs 5 lakh for insider trading
Posted Date : 30-Nov-2011 , 08:54:09 am | Posted By CASANSAAR
Sebi has imposed a penalty of Rs 5 lakh on G Jayaraman, compliance officer of erstwhile Satyam Computer alleging violation of insider trading rules. Sebi conducted an investigation relating to insider trading in shares of Satyam in 2008-09. It revealed that company's announcement on December 16,...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 956
|
|
Denmark, Finland pass information on 1,500 transactions by Indians
Posted Date : 30-Nov-2011 , 08:51:37 am | Posted By CASANSAAR
India has received information on around 1,500 transactions from Denmark and Finland under Double Taxation Avoidance Agreements with these countries and the CBDT is looking into the data.
"... Information relating to around 1,500 transactions has been recently received from Denmark and Fi...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1124
|
|
Finance committee says tax exemptions to ICC unjustified
Posted Date : 30-Nov-2011 , 08:49:33 am | Posted By CASANSAAR
The Rs 45 crore tax exemption given to the ICC on the revenue generated from this year's cricket World Cup here was "unjustified and devoid of merit", the Standing Committee on Finance has concluded in an inquiry.The World Cup was jointly hosted by India, Sri Lanka and B...
Continue Reading...
Category :
Finance |
Comments :
0 | Hits : 811
|
|
Measures to Control External Capital Flows
Posted Date : 30-Nov-2011 , 08:45:30 am | Posted By CASANSAAR
Volatility is inherent in any market. It is an outcome of perceptions of the investors – domestic and overseas, retail and institutional – about the economy, the sector and the company. The domestic fundamentals of economy are strong and intact.
Capital flows on account of ...
Continue Reading...
Category :
Finance |
Comments :
0 | Hits : 696
|
|
Notification for Launch of 10-Year National Savings Certificate (IX-Issue), 2011 Issued
Posted Date : 30-Nov-2011 , 08:44:50 am | Posted By CASANSAAR
In accordance with the decisions taken by the Government on the basis of the recommendations of the Committee for Comprehensive Review of National Small Savings Fund (NSSF), headed by Smt Shyamala Gopinath, the then Deputy Governor, Reserve Bank of India, Notifications on chang...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 941
|
|
Delhi one of the most unsafe cities in India, says study
Posted Date : 29-Nov-2011 , 08:54:56 pm | Posted By CASANSAAR
The National Capital has emerged as one of the most unsafe cities along with Patna, Kanpur and Meerut in the country, according to a report by online realty portal 99acres.com. The report, which was prepared by global market research firm YouGov on behalf of 99acres.com, has found Chandigarh to b...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 1108
|
|
New companies bill retained the provision for rotation of auditors every five years
Posted Date : 29-Nov-2011 , 03:54:06 pm | 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 thefinal draft of Companies Bill 2011, the Co...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 991
|
|
ICAI examining violation of Chartered Accountants Act: Government
Posted Date : 29-Nov-2011 , 08:18:10 am | Posted By CASANSAAR
Accounting regulator ICAI is examining violation of certain clauses of the Chartered Accountants Act by multinational audit firms, Parliament was informed today. "Some instances of violations have come to the notice of the Institute of Chartered Accountants of India (ICAI) which is examining the...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 1190
|
|
Supreme Court issued notice to SEBI on Sahara companies' plea
Posted Date : 29-Nov-2011 , 08:15:52 am | Posted By CASANSAAR
The Supreme Court Monday issued notice to the securities and exchange regulator on a plea of two Sahara group companies which challenged a Securities Appellate Tribunal's (SAT) award directing them to refund Rs.17,400 crore they had collected from investors through Optional Fully Convertible Deb...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 670
|
|
RBI approves Air India debt restructuring
Posted Date : 29-Nov-2011 , 08:14:26 am | Posted By CASANSAAR
Air India Ltd has won the central bank’s approval for a debt recast plan crucial to the state-run carrier receiving desperately needed government funds over the next 10 years. The Reserve Bank of India (RBI) has, however, approved some of the loss-making carrier’s proposals while rejecti...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 823
|
|
CBEC seeks more staff to meet growing workload
Posted Date : 29-Nov-2011 , 08:10:14 am | Posted By CASANSAAR
The Central Board of Excise and Customs (CBEC) has asked the government for 25,000 more employees, equivalent to 40% of its current staffing level, to meet the growing workload.
The finance ministry unit helps formulate ...
Continue Reading...
Category :
Excise |
Comments :
0 | Hits : 800
|
|
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...
Continue Reading...
Category :
GST |
Comments :
0 | Hits : 978
|
|
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...
Continue Reading...
Category :
Shares & Stock |
Comments :
0 | Hits : 673
|
|
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...
Continue Reading...
Category :
International Business |
Comments :
0 | Hits : 734
|
|
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...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 784
|
|
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...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 698
|
|
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...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1076
|
|
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...
Continue Reading...
Category :
ICAI |
Comments :
8 | Hits : 2175
|
|
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 ...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 708
|
|
|
