Rupee touches new low of 52.15 per dollar
Posted Date : 22-Nov-2011 , 08:27:38 am | Posted By CASANSAAR
At the inter-bank foreign exchange market, the rupee sank 81 paise, to a over 32-month closing low of 52.15 against the dollar.The rupee fell on sustained dollar demand, and as domestic equities tumbled. The rupee has lost over 4 percent against the dollar in the last six trading sessions.The Financ...
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International Business |
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RBI's ability to intervene in forex market limited: FinMin
Posted Date : 21-Nov-2011 , 09:00:16 pm | Posted By CASANSAAR
The finance ministry on Monday said the ability of the Reserve Bank to intervene in the forex market to arrest the fall in rupee is limited, even as the Indian currency declined to a 32-month low of Rs 51.50 per US dollar in the early trade. "RBI's ability to intervene in forex market...
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Finance |
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Income tax department doubting authenticity of Swiss Bank account holders list
Posted Date : 21-Nov-2011 , 08:50:27 am | Posted By CASANSAAR
After serving notices and conducting raids, the income-tax department is having second thoughts on the authenticity of the list of Swiss bank account holders it obtained from the French government three months ago.Tax authorities, investigating the 700 unreported account holders with HSBC Geneva,...
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Income Tax |
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Dupe charges: DLF moves Delhi HC against SEBI order
Posted Date : 21-Nov-2011 , 08:45:01 am | Posted By CASANSAAR
DLF Limited has moved the Delhi High Court challenging the order of market regulator Sebi to probe accusations by a Delhi-based businessman that he was duped of Rs 34 crore by the realty major and its alleged associate firm Sudipti Estates.
Justice Vipin Sanghi has now fixed the petition of ...
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SEBI |
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Govt to provide adequate capital to PSU banks: Pranab
Posted Date : 20-Nov-2011 , 08:24:51 am | Posted By CASANSAAR
Finance Minister Pranab Mukherjee said that the government will provide adequate capital to the state-owned banks during the current fiscal, a move that will help them to meet the international solvency norms.
"I would like to reassure, that I will provide adequate capital to the ...
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Banking |
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RBI guidelines for cooperative banks to improve customer services
Posted Date : 19-Nov-2011 , 05:43:50 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) has asked cooperative banks not to insist on signatures of both the joint account holders for withdrawal of a fixed deposit at the time of maturity if the account was opened with instruction that either of survivor could operate it. The RBI said in a communication to ...
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Banking |
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NGOs will have to reveal details of foreign aid to I-T
Posted Date : 19-Nov-2011 , 08:21:38 am | Posted By CASANSAAR
All non-governmental organizations (NGOs) and charitable trusts will now have to compulsorily file details of foreign contributions received in their Income Taxreturns along with their Foreign Contributions Regulation Act (FCRA) number.A revised I-T return form has been prepared by th...
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Income Tax |
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Revised CBEC draft cuts tax exempted services to 22
Posted Date : 19-Nov-2011 , 08:20:12 am | Posted By CASANSAAR
The government's indirect taxes body has released a revised concept paper on taxation of services on the basis of a negative list, making some additions and deletion to the first paper put out in August this year. A lesser 22 services will be under the negative list, or exempt from tax, as a...
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Service Tax |
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Sebi notifies enhanced FII investment limit
Posted Date : 18-Nov-2011 , 08:21:29 pm | Posted By CASANSAAR
Market regulator Sebi today notified increasing the limit for foreign institutional investors (FIIs) in government securities and corporate bonds by $5 billion each and said the bidding process for the additional amount would be conducted on November 30.
The announcement by the Securities a...
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SEBI |
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Open a Bank account through MCA portal.
Posted Date : 18-Nov-2011 , 05:05:35 pm | Posted By CASANSAAR
MCA offers one more innovative service.
Now you can open a bank account with participating banks.
Andhra Bank
Kotak Mahindra Bank
Click here for more details
http://mca.gov.in/MCA21/corporate_bank_acc.html__._,_.___
Ministry of Corporate Affairsmca.gov.in
...
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Corporate Law |
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Govt to stick to Rs. 40,000 cr disinvestment target: Pranab
Posted Date : 18-Nov-2011 , 04:04:00 pm | Posted By CASANSAAR
The government today said it will stick to its disinvestment target of Rs. 40,000 crore for the 2011-12 financial year, but achieving this goal will hinge on many other factors.
"I am not revising it (the target) right now. We have fixed the target and we will try to achieve it, b...
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Finance |
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Motorola shareholders approve Google takeover bid
Posted Date : 18-Nov-2011 , 03:59:39 pm | Posted By CASANSAAR
Shareholders of Motorola Mobility Holdings Inc late Thursday approved a 12.5-billion-dollar takeover offer from Google Inc, gaining the internet giant a stronger foothold in the handset sector, and expanding its patent portfolio.
Motorola said shareholders voted with an “overwhelming majori...
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International Business |
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HSBC India unit client charged with US tax evasion
Posted Date : 18-Nov-2011 , 02:24:57 pm | Posted By CASANSAAR
A San Jose, California, man faces charges of tax evasion after failing to report $1.3 million in interest income from HSBC Holdings Plc's India unit, US prosecutors said on Thursday.Ashvin Desai hid as much as $8.8 million during 2009 in the India operations of the UK banking giant, prosecutors...
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International Business |
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G Ramaswamy, President, ICAI elected as IFAC Board Member.
Posted Date : 18-Nov-2011 , 08:40:37 am | Posted By CASANSAAR
G Ramaswamy, President, The Institute of Chartered Accountants of India (ICAI) has been elected as the Board Member of International Federation of Accountants (IFAC) at the November IFAC Council Meeting held at Berlin, Germany on 17th November 2011. IFAC is a global organization ...
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ICAI |
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FII cap in Government, corporate debt hiked by $5 billion
Posted Date : 18-Nov-2011 , 08:35:14 am | Posted By CASANSAAR
The Finance Ministry on Thursday raised the foreign investment limit in government and corporate debt by $5 billion each, hoping to solve the issue of poor investor response to government debt and the rupee depreciation. The existing foreign investment limit in government debt has already been e...
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Finance |
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No benefit to executives from management-union agreements: Supreme Court
Posted Date : 18-Nov-2011 , 08:32:22 am | Posted By CASANSAAR
The Supreme Court on Thursday ruled that once an employee was placed in the executive cadre, he would cease to be a workman, disentitling him to benefits accruing from a settlement arrived between the management and trade union of which he was a member prior to promotion.The judgment by a ...
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General |
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Claiming HRA? Get the house owner's PAN
Posted Date : 18-Nov-2011 , 08:28:40 am | Posted By CASANSAAR
Kalpana Sinha, a tenant in a Mumbai suburb, often tells her house owner that her payment of rentals — Rs 30,000 a month — do not allow her to claim tax benefits. While the owner is willing to give her a temporary receipt, it contains little detail about the owner.
Sinha would ...
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Income Tax |
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0 | Hits : 1326
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RBI to buy Rs 10k crore bonds to ease pressure on rates
Posted Date : 17-Nov-2011 , 08:23:10 am | Posted By CASANSAAR
The Reserve Bank of India said it will buy government bonds worth 10,000 crore from investors for the first time this fiscal, aiming to ease pressure on interest rates after three of the four bond sales this quarter did not have enough takers at the specified price.The move to ease the pressure o...
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RBI |
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CAG's role in social sector audit vital: Pranab
Posted Date : 17-Nov-2011 , 08:19:01 am | Posted By CASANSAAR
Finance Minister Pranab Mukherjee on Wednesday maintained that even as every decision of the government was not likely to be the most optimal, the possibility of institutional failures, oversight and ignorance could impact the decision-making process.
In his address at a concluding function here ...
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CAG |
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Ex can't use husband's name: Supreme Court
Posted Date : 17-Nov-2011 , 08:15:12 am | Posted By CASANSAAR
"Must a name mean something?" asks Alice as she travels through Wonderland whileWilliam Shakespeare famously asked "What's in a name?" To a Mumbai resident it definitely meant something as he fought a legal battle all the way to the Supreme Court to stop his ex-wife from using his sur...
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General |
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Revised concept paper on negative list of service tax soon
Posted Date : 17-Nov-2011 , 08:12:47 am | Posted By CASANSAAR
The government will come out in few days with revised concept paper on 'negative list' for service tax -- meaning services which are not mentioned in the list would be taxed under the proposed GST regime. "The revised concept paper (on negative list of services) is ready and you should se...
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Service Tax |
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16 economic legislations in coming Parliament session
Posted Date : 17-Nov-2011 , 08:10:52 am | Posted By CASANSAAR
Government will seek passage of several key economic legislations in the winter session of Parliament, pushing its reforms agenda and allaying concerns of policy paralysis among a section of the industry. The long-pending Pension Fund Regulatory and Development Authority (PFRDA) Bill, which will...
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General |
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SEBI asked to probe charges that NSE harming investors' interest
Posted Date : 17-Nov-2011 , 08:07:49 am | Posted By CASANSAAR
Stock market watchdog Securities and Exchange Board of India (SEBI) was today asked by the Delhi High Court to examine an investor group's allegation that National Stock Exchange was acting against investors to protect stock brokers's interests.
"The issue raised by the petitioner needs serious c...
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SEBI |
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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 ...
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Income Tax |
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0 | Hits : 802
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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...
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Finance |
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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&...
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Banking |
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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...
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ICAI |
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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...
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ICSI |
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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 ...
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Income Tax |
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0 | Hits : 714
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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...
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General |
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