Govt working to make pvt sector bribery criminal: PM
Posted Date : 21-Oct-2011 , 05:28:11 pm | Posted By CASANSAAR
Prime Minister Dr Manmohan Singh has said government is considering changes in law to make private sector bribery a criminal offence.Speaking at the Biennial Conference of CBI and state anti-corruption bureaux, the Prime Minister said India has ratified UN Conventions against corruption and to meet ...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 888
|
 |
CBDT Makes Discussion Paper on Tax Accounting Standards Public
Posted Date : 21-Oct-2011 , 08:20:36 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has made public the discussion paper on accounting standards, to be known as Tax Accounting Standards (TAS), for feedback from all concerned. The discussion paper is available on the following web-sites:
finmin.nic.in ; ...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 803
|
|
Sebi to probe allegations against DLF, Sudipti Estates
Posted Date : 21-Oct-2011 , 08:17:27 am | Posted By CASANSAAR
Market regulator Sebi today said it will probe allegations by a Delhi-based businessman that he was duped of Rs 34 crore by DLF Limited and Sudipti Estates. The probe order follows a Delhi High Court ruling on a complaint filed by Kimsuk Krishna Sinha in 2007 against the DLF Group and Sudipti...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 744
|
|
I-T dept to make names of defaulters owing over Rs 10cr public
Posted Date : 21-Oct-2011 , 08:14:31 am | Posted By CASANSAAR
The Income Tax department has decided to publish the names of defaulters who owe more than Rs 10 crore as unpaid taxes after it unearthed details of such assessees recently.The department has decided to send show cause notices to such assessees, who have reported "no assets/inadequate assets for rec...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1058
|
|
Finance ministry suggests reconciling accounting standards
Posted Date : 21-Oct-2011 , 08:11:27 am | Posted By CASANSAAR
In a move that can help solve corporate litigation with the tax departments and mark a step forward in India’s commitment to implement International Financial Reporting Standards (IFRS), the finance ministry has suggested reconciliation ...
Continue Reading...
Category :
Accounts |
Comments :
0 | Hits : 1320
|
|
Govt to set up agency to take suo-motto action against mis-leading ads
Posted Date : 21-Oct-2011 , 08:06:24 am | Posted By CASANSAAR
An independent agency is being set up to take suo-motto action against mis-leading advertisements. Consumer Affairs Minister K V Thomas told AIR that the agency will have experts from various fields to check the exaggerated claims about their products and services in their advertisements.Mr. Thomas ...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 704
|
|
Ashok Chawla takes oath as New Chairman of CCI
Posted Date : 21-Oct-2011 , 08:03:35 am | Posted By CASANSAAR
Shri Ashok Chawla today took oath as New Chairman of the Competition Commission of India. He was administered the oath of the office by Union Corporate Affairs Minister Dr. M. Veerappa Moily in his Office. Shri Chawla has been the former Finance Secretary to the Govt. of India and has succeeded Shri...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 748
|
|
Extension of date of submission of service tax half yearly returns
Posted Date : 20-Oct-2011 , 06:09:01 pm | Posted By CASANSAAR
In exercise of the powers conferred by Rule 7(4) of the Service Tax Rules 1994 read withnotification No. 48/2011-Service Tax dated 19th October 2011, Central Board of Excise and Customs hereby extends the date of submission of half yearly return for the period April 2011 to ...
Continue Reading...
Category :
Service Tax |
Comments :
0 | Hits : 1011
|
|
Reserve Bank of India warns of another global financial crisis
Posted Date : 20-Oct-2011 , 12:00:06 pm | Posted By CASANSAAR
Reserve Bank of India (RBI) has warned of another financial crisis brewing, as global liquidity becomes a concern amidst central banks pegging their lending rates at near zero levels, leaving scope for another asset bubble to take down the global financial system. "There is, thus, incontrovertib...
Continue Reading...
Category :
International Business |
Comments :
0 | Hits : 979
|
|
Prepay loan without fine to housing finance companies
Posted Date : 20-Oct-2011 , 08:18:37 am | Posted By CASANSAAR
In a development that will cheer thousands of home owners who have availed of loans from any of the 54 housing finance companies (HFCs), the National Husing Bank (NHB) has banned the levy of pre-payment penalty.The NHB, which is the housing finance regulator, has also asked HFCs to ensure ...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 1216
|
|
Govt to complete capital infusion in public sector banks by March end
Posted Date : 20-Oct-2011 , 08:15:03 am | Posted By CASANSAAR
The government on Wednesday said public sector banks including, State Bank of India, requires about 20,000 crore rupees in the current fiscal and the capital infusion would be completed by the end of March.Replying questions on the sidelines of a function in New Delhi the Financial Services Secretar...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 766
|
|
Sustained efforts being made to unearth Black Money: FM
Posted Date : 20-Oct-2011 , 08:13:28 am | Posted By CASANSAAR
The government said it has started investigations into black money transactions by Indians. Inaugurating the Economic Editors' Conference in New Delhi on Wednesday, the Finance Minister Mr. Pranab Mukherjee said about ten thousand pieces of information have been received from different parts of the ...
Continue Reading...
Category :
Finance |
Comments :
0 | Hits : 724
|
|
Direct Taxes Code will come next year: Finmin
Posted Date : 20-Oct-2011 , 08:10:55 am | Posted By CASANSAAR
The government on Wednesday expressed optimism that the Direct Taxes Code (DTC) would come into force from the next financial year.
Finance minister Pranab Mukherjee said he was confident of the DTC being recommended by the standing committee in the coming (winter) Parliament sessio...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 936
|
|
NRIs can hold accounts in any currency now: RBI
Posted Date : 19-Oct-2011 , 07:08:40 pm | Posted By CASANSAAR
The Reserve Bank on Wednesday said Indians who have non-resident accounts in the country can now hold them in any currency which is fully convertible. The move is likely to help NRIs/Persons of India Origin as it will give them more options in the holding of accounts, and lessen the risk from &nbs...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 767
|
|
Centre asks Haryana govt to take steps to end Maruti strike
Posted Date : 19-Oct-2011 , 07:05:15 pm | Posted By CASANSAAR
The Centre on Wednesday asked the Haryana government to take steps to ensure that the strike at the Manesar plant of Maruti Suzuki India ends soon.Talking to reporters on the sidelines of a function in New Delhi, Union Labour Minister Mallikarjun Kharge, however, ruled out making a direct interventi...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 786
|
|
CA.Y.H. Malegam joined RBI Board
Posted Date : 19-Oct-2011 , 08:31:24 am | Posted By CASANSAAR
The Government of India has appointed two more members on the Central Board of Directors of the Reserve Bank of India. The new Directors are:
Shri Y.H. Malegam, who has been re-appointed from October 7, 2011 vice Shri H. P Ranina.
Prof. M.V. Rajeev Gowda who has been appo...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 1121
|
|
Now, ICAI to turn transparency spotlight on itself
Posted Date : 19-Oct-2011 , 08:27:07 am | Posted By CASANSAAR
Like charity, scrutiny too, it seems, begins at home. After pitching for more disclosure norms for corporates, the Institute of Chartered Accountants of India (ICAI) now wants to usher in more transparency in its own functioning.
The accounting regulator...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 866
|
|
TDSAT asks Bharti Airtel deposit Rs 25 Cr penalty with DoT
Posted Date : 19-Oct-2011 , 08:24:33 am | Posted By CASANSAAR
Telecom tribunal TDSAT on Tuesday directed Bharti Airtel to pay 50 per cent of the Rs 50 crore penalty imposed by theTelecom Ministry in the matter of alleged violation of licence terms and conditions by the private operator for issuing bulk mobile connections.
Passing an interi...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 720
|
|
Finance ministry favours extending trading hours for currency futures till 7pm
Posted Date : 19-Oct-2011 , 08:21:42 am | Posted By CASANSAAR
Currency traders may be in for longer working hours if the government has its way. The ministry of finance is understood to be backing a proposal to extend trading hours for currency futures, even though exchanges and brokerages are divided on the subject. The issue cropped up at a recent mee...
Continue Reading...
Category :
Shares & Stock |
Comments :
0 | Hits : 709
|
|
SAT tells Sahara firms to pay Rs 24k cr in six weeks
Posted Date : 19-Oct-2011 , 08:14:10 am | Posted By CASANSAAR
Group says ‘shocked’, to move Supreme Court.
The Securities Appellate Tribunal (SAT) on Tuesday directed two Sahara group firms to refund a sum of Rs 24,029 crore to 29.6 million investors who had subscribed to its optionally fully convertible debentures (OFCDs).
...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 717
|
|
Formula 1 : SC notice to UP govt on tax exemption
Posted Date : 18-Oct-2011 , 05:14:57 pm | Posted By CASANSAAR
India's Formula One ambition has hit its first hurdle just two weeks ahead of the first Indian Grand Prix.
The Supreme Court sought explanation from the Uttar Pradesh government for granting tax exemption to Jaypee group, the company organising Formula 1 event in Greater Noida.
A bench headed by...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 982
|
|
Cos need not maintain 2 account books: FinMin proposal
Posted Date : 18-Oct-2011 , 08:09:58 am | Posted By CASANSAAR
Companies wanting to migrate to international auditing norms, IFRS, may be spared from maintaining two books of accounts - one under the Companies Act and the other for taxation purposes, if a Finance Ministry proposal gets implemented.
The proposal, which was floated in a Discussion Paper on Tax...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 817
|
|
CBDT releases discussion Paper on Tax Accounting Standards
Posted Date : 18-Oct-2011 , 08:01:34 am | Posted By CASANSAAR
Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes
1. Background
1.1 Section 145 of the Income-tax Act, 1961 („the Act‟) provides that the method of accountin...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 720
|
|
FinMin meets Sebi, market players for STT consultation
Posted Date : 18-Oct-2011 , 07:54:09 am | Posted By CASANSAAR
As the demands for lowering statutory levy on share trading get the backing of the Securities and Exchange Board of India (Sebi), the finance ministry today held a meeting to discuss the rationalisation of the Securities Transaction Tax (STT).
However, the final proposal will be...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 672
|
|
MCA in favour of corporate governance index
Posted Date : 17-Oct-2011 , 08:48:39 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs today said it is in favour of introducing a corporate governance index that will offer rankings to companies adopting governance standards.
"I would like to introduce a corporate governance index and am working on an award scheme for corporates," Corporate Affair...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 694
|
|
India and Philippines to Sign DTAA Soon: FM
Posted Date : 17-Oct-2011 , 08:47:18 pm | Posted By CASANSAAR
Union Finance Minister Shri Pranab Mukherjee said that there is a need for transparent arrangement with a legal framework for exchange of information between India and Philippines relating to banking and tax related matters. The Finance Minister Shri Mukherjee raised this issue during his bilateral ...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 680
|
|
No govt jobs for those with criminal record: SC
Posted Date : 17-Oct-2011 , 08:17:25 am | Posted By CASANSAAR
A person facing criminal cases cannot be considered suitable for appointment in government service unless acquitted of the charges, the Supreme Court has held. Quashing the appointment of constable SK Nazrul Islam, the apex court said, "Surely, the authorities entrusted with the responsibility of ...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 757
|
|
Firms get govt breather on forex earnings
Posted Date : 17-Oct-2011 , 08:12:05 am | Posted By CASANSAAR
The ministry of corporate affairs, or MCA, has given Indian firms another year to spread their liabilities on account of foreign exchange borrowings accruing from fluctuations in foreign exchange, or forex, rates.
While getting more time to amortize such liabilities will come as a breather fo...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 714
|
|
EC ropes in I-T dept to check poll funding
Posted Date : 17-Oct-2011 , 08:05:56 am | Posted By CASANSAAR
In a bid to check suspicious transactions, the Election Commission has rolled out fresh guidelines for monitoring of poll funding during the forthcoming elections in five states, including Uttar Pradesh, and has roped in the income tax department and the financial intelligence unit for...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 734
|
|
RBI raises per transaction limit to 3,000 USD for exporters
Posted Date : 16-Oct-2011 , 09:18:21 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) enhanced the limit for retaining foreign currency abroad to 3,000 USD per transaction for exporters against the existing 500 USD.RBI in a statement issued in Mumbai on Friday said the decision has been taken for export related remittances received through Online Payme...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 983
|
|
|
