House panel pulls up I-T for IPL mess, seeks action on BCCI
Posted Date : 15-Jul-2011 , 07:53:10 am | Posted By CASANSAAR
The Income Tax (I-T) department received flak from parliamentarians on Thursday for being “lax” and “lenient on BCCI” for the Indian Premier League (IPL) mess. The parliamentary standing committee on finance on Thursday finalised its report where it has sought a thorough prob...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 288
|
 |
Hero pays Rs 811 crore tax on Honda stake buyout: CBDT
Posted Date : 15-Jul-2011 , 07:50:08 am | Posted By CASANSAAR
The BM Munjal-promoted Hero Group has paid Rs 811 crore as capital gains tax for buying out erstwhile partner Honda from their joint venture, Hero Honda, Central Board of Direct Taxes (CBDT) on Thursday said. "Hero has paid the entire tax amount of Rs 811 crore in two tranches, Rs 100 crore in March...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 374
|
|
Tata Consultancy Services Q1 net profit up 28% at Rs 2,380 crore
Posted Date : 15-Jul-2011 , 07:48:21 am | Posted By CASANSAAR
Tata Consultancy Services (TCS), India's largest software services exporter, posted a better-than-expected rise in quarterly profit driven by increased spending by clients, and said the uncertain global economy was unlikely to hurt demand. TCS, a unit of the salt-to-steel conglomerate Tata Gro...
Continue Reading...
Category :
Accounts |
Comments :
0 | Hits : 570
|
|
Swiss financial system pays Rs 1-lakh cr tax a year
Posted Date : 14-Jul-2011 , 04:46:51 pm | Posted By CASANSAAR
They are accused of helping Indians and others evade tax and hide their black money, but the Swiss financial sector itself pays taxes totalling about Rs one lakh crore every year to its government.
In its latest report on "The Economic Significance of Swiss Financial Centre," the Swiss b...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 523
|
|
RBI wants all PSBs to have uniform pension provision
Posted Date : 14-Jul-2011 , 03:16:57 pm | Posted By CASANSAAR
After coming down heavily on banks for not making adequate provision for increased pension liabilities arising out of wage revision, the Reserve Bank of India (RBI) now wants all public sector banks to have uniform pension liabilities.
According to sources in the banking industry, the centr...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 354
|
|
Indian-origin girls get top honours at Google Science Fair
Posted Date : 14-Jul-2011 , 01:04:14 pm | Posted By CASANSAAR
BOSTON: Two Indian-origin girls have emerged winners at Google's inaugural Science Fair , impressing thousands at the internet giant's California headquarters with their projects on ways to improve ovarian cancer treatment and bettering air quality for the benefit of asthma patients. The top th...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 350
|
|
Now, pay only 15% tax on short-term gains
Posted Date : 14-Jul-2011 , 07:10:42 am | Posted By CASANSAAR
There is a dim ray of hope for scores of investors who were asked to pay a higher tax for selling shares within 30 days of purchase. The Income Tax Appellate Tribunal has ruled that profits from sale of shares held for even less than 30 days are eligible to be treated as "short term capital gains" o...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1463
|
|
4 PSU banks raise interest rates by up to 50 bps
Posted Date : 14-Jul-2011 , 07:03:00 am | Posted By CASANSAAR
As many as three state-owned banks including Oriental Bank of Commerce (OBC) and Indian Bank hiked interest rates by up to 50 basis points. While Indian Bank and Allahabad Bank raised base rate, or minimum lending rate by 25 basis points, OBC and IDBI Bank raised deposit rates by up to 50 basis poin...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 486
|
|
Terms of Reference of The Task Force on Direct Transfer of Subsidies Extended
Posted Date : 13-Jul-2011 , 09:46:20 pm | Posted By CASANSAAR
The Ministry of Finance has decided to extend the terms of reference of the Task force which was constituted under the Chairmanship of Shri Nandan Nilekani, Chairman, Unique Identification Authority of India (UIDAI) to recommend and implement a solution for direct transfer of subsidies on Kerosene, ...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 570
|
|
VAT collection: Delhi govt to soon identify ''bogus traders''
Posted Date : 13-Jul-2011 , 09:44:57 pm | Posted By CASANSAAR
In an effort to improve VAT collection and identify "bogus traders", the Delhi government will soon carry out a comprehensive scrutiny of the traders registered with it.
Commissioner of Trade and Taxes Rajender Kumar said the department would soon launch the scrutiny to detect the tax evaders and t...
Continue Reading...
Category :
VAT |
Comments :
0 | Hits : 385
|
|
Cabinet likely to clear merger of SBICI with SBI tomorrow
Posted Date : 13-Jul-2011 , 09:42:14 pm | Posted By CASANSAAR
The government is likely to consider merger of State Bank of India Commercial and International Bank Ltd (SBICI) with the country's largest lender SBI at the meeting of Union Cabinet tomorrow. SBICI is a wholly owned subsidiary of SBI and functions as a private sector bank offering the an array of f...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 632
|
|
3 bomb blasts in Mumbai
Posted Date : 13-Jul-2011 , 07:54:51 pm | Posted By CASANSAAR
Three bomb blasts were reported in Mumbai on Wednesday evening in the crowded Dadar, Opera House and Zaveri Bazar areas, police said.
The blasts, that went off within minutes of each other.
Police, ambulance, home guards and fire brigade were rushed to the spot. The incident happen...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 1257
|
|
Govt seeks access to Facebook, Twitter data
Posted Date : 13-Jul-2011 , 07:12:30 pm | Posted By CASANSAAR
The government on Wednesday made it clear that social networking sites must comply with the security agencies' requirement for a real-time monitoring of their user data to ensure that national security is not compromised.
In the backdrop of a raging controversy over BlackBerry posing security conce...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 535
|
|
Corporate governance, new companies act top priorities: Moily
Posted Date : 13-Jul-2011 , 03:20:16 pm | Posted By CASANSAAR
Corporate Affairs Minister M. Veerappa Moily took charge of his new portfolio here early Wednesday and said the passage of a new bill to replace the 55-year-old Companies Act and issues of corporate governance were his top priorities. Moily also brushed aside suggestions that he was unhap...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 324
|
|
Shiv Nadar-controlled HCL may buy out stake in DLF Pramerica Life Insurance Company
Posted Date : 13-Jul-2011 , 03:13:16 pm | Posted By CASANSAAR
The Shiv Nadar-controlled HCL Group is in advanced discussions with real estate major DLF to acquire a substantial stake in DLF Pramerica Life Insurance Company Limited , for around Rs.450 crore in a two-phase transaction. The acquisition will be done through a privately-held company and will r...
Continue Reading...
Category :
Merger & Acquisitions |
Comments :
0 | Hits : 323
|
|
Result of CA Final (May 2011) & CPT (June 2011)
Posted Date : 13-Jul-2011 , 01:56:10 pm | Posted By CASANSAAR
The results of the Chartered Accountants Final Examination held in May, 2011 and Common Proficiency Test (CPT) held in June, 2011 are likely to be declared on Tuesday, the 19th July, 2011, around 2:00 PM for more detail visit
http://220.227.161.86/23307result130711.pdf
...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1425
|
|
HDFC Bank launches Infinia, takes on American Express
Posted Date : 13-Jul-2011 , 11:30:06 am | Posted By CASANSAAR
A favourite of many global chief executives and celebrities, the American Express card, or Amex card, now has a competitor in India.
HDFC Bank, the second-largest private sector bank in the country, on Tuesday launched 'Infinia' cards for the uber-rich, high net worth community in Ind...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 805
|
|
India's biggest farm equipment maker Mahindra & Mahindra plans to venture into general insurance business
Posted Date : 13-Jul-2011 , 11:26:04 am | Posted By CASANSAAR
Mahindra & Mahindra Group , the biggest farm equipment makers in the country, is planning to tie-up with an experienced company to venture into the Rs. 40,000-crore general insurance business, which is growing at around 20% a year. The group, which has a lending business in Mahin...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 277
|
|
CBDT allows Mah Satyam to file revised returns for '03-07
Posted Date : 13-Jul-2011 , 07:28:19 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) is believed to have turned down the request of Mahindra Satyam to fully adjust taxes paid by its erstwhile owner Ramalinga Raju on fictitious income.
Tech Mahindra had acquired Satyam Computer, after a multi-crore accounting fraud in the company came...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 541
|
|
TN revises sales tax rates, expects to rake in Rs 3,900 cr
Posted Date : 13-Jul-2011 , 07:25:37 am | Posted By CASANSAAR
The Tamil Nadu government today revised sales tax rates applicable to commodities such as tobacco products and electronic goods such as cellular phones and LCD/LED panels, as well as on textiles and textile products.
Effective July 12, the revised rates are expected to bring in an additiona...
Continue Reading...
Category :
VAT |
Comments :
0 | Hits : 1081
|
|
RIL replies to CAG report on KG-D6 field
Posted Date : 12-Jul-2011 , 05:12:48 pm | Posted By CASANSAAR
Reliance Industries (RIL) as well as the Oil Ministry and sector regulator DGH today gave detailed point-by-point reply to observations top auditor CAG had made in its draft report on the nation's largest gas field, KG-D6.
Besides Reliance, Cairn India and UK's BG Group too replied to aud...
Continue Reading...
Category :
CAG |
Comments :
0 | Hits : 667
|
|
PM makes minor cabinet changes, Jairam Ramesh new rural development minister
Posted Date : 12-Jul-2011 , 12:03:37 pm | Posted By CASANSAAR
Prime Minister Manmohan Singh on Tuesday announced minor changes to his cabinet. In a surprise move Dr Singh moved Jairam Ramesh to the rural development ministry from environment. The Prime Minister has requested that the oath of office and secrecy be administered to the new ministers at 5....
Continue Reading...
Category :
General |
Comments :
0 | Hits : 808
|
|
Payments to foreign companies for uploading ads not taxable: Income Tax Appellate Tribunal
Posted Date : 12-Jul-2011 , 07:07:57 am | Posted By CASANSAAR
Payments to a foreign company for uploading banner advertisements on portals are not liable to be taxed in India, the Income Tax Appellate Tribunal (ITAT) has ruled in an appeal filed by software company Yahoo India. Such payments are not in the nature of royalty and, therefore, do not come under th...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1284
|
|
LLPs can get membership of stock exchanges: Sebi
Posted Date : 11-Jul-2011 , 09:06:24 pm | Posted By CASANSAAR
Capital market regulator Sebi on Monday said Limited Liability Partnerships (LLPs), a hybrid between a partnership firm and company, can get membership of stock exchanges. Following requests from various stock exchanges to permit LLPs to be admitted as members to enable them to get registration as s...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 688
|
|
ICAI to submit suggestions on black money by August end
Posted Date : 11-Jul-2011 , 09:01:07 pm | Posted By CASANSAAR
Accounting regulator ICAI today said it will submit to the government, its suggestions on the ways to deal with the menace of black money and retrieving illegal money stashed in tax havens and overseas banks by the end of August. "We (the Committee) have had our first meeting. Right now we are colle...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 520
|
|
Mandatory CSR spend to cost India Inc Rs 8,700 cr a yr
Posted Date : 11-Jul-2011 , 08:58:42 pm | Posted By CASANSAAR
Indian companies may have to collectively spend close to $2 billion (about Rs 8,700 crore) a year on CSR programmes if the government makes it mandatory for them to spend 2% of profits on social responsibility programmes, a study said today.
Of late, the proposal from the Ministry of Corpor...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 378
|
|
Guidelines for Declaring Financial Institution as Public Financial Institutions Under Section4a of The Companies Act,1956
Posted Date : 11-Jul-2011 , 08:55:06 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs has framed following criteria for declaring any financial institution as a Public Financial Institution (PFI) under under section 4a of the Companies Act,1956:
decided that with effect from 12th June, 2011, all DIN-1 & DIN-4 applications has to be digitally ...
Continue Reading...
Category :
Corporate Law |
Comments :
1 | Hits : 401
|
|
Integration of Director’s Identification Number (DIN) issued under Companies Act, 1956 with Designated Partnership Identification Number (DPIN) issued under Limited Liability Partnership (LLP) Act, 20
Posted Date : 11-Jul-2011 , 08:52:22 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs has been issuing two separate identification numbers as DIN to an individual for becoming a director of a company under Companies Act, 1956 and DPIN for a designated partner in a Limited Liability Partnership under Limited Liability Partnership (LLP) Act,2008.
To...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 483
|
|
Filing of Balance Sheet and Profit and Loss Account in eXtensible Business Reporting Language (XBRL) mode
Posted Date : 11-Jul-2011 , 08:50:56 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs has partially modified the Para 2 of its Circular No. 26/2011 issued on 18.05.2011. As per the modification the filing on MCA 21 in the XBRL mode will be effective in respect of financial statements closing on or after 31.03.2011 instead of the year 2011-12.
Fur...
Continue Reading...
Category :
Corporate Law |
Comments :
3 | Hits : 1119
|
|
High newsprint prices likely to hit Indian print media margins
Posted Date : 11-Jul-2011 , 03:39:32 pm | Posted By CASANSAAR
Increasing newsprint prices are likely to have a negative impact on profitability of the Indian print media industry in the short to medium term, according to a Fitch report.
The report expects that an increase in advertising revenues may partly offset the rising cost of newsprint. Newspa...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 536
|
|
|
