Rajat Gupta pleads not guilty, released on $10-million bail
Posted Date : 27-Oct-2011 , 08:51:30 am | Posted By CASANSAAR
Former Goldman Sachs and P&G director Rajat Gupta appeared in a US court today after being arrested and was indicted on six criminal counts on securities fraud.
Gupta, 62, is accused of sharing confidential information with hedge fund manager Raj Rajaratnam, the Sri Lanka born found...
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International Business |
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UK blacklists 2000 Indian banks from student visa process
Posted Date : 26-Oct-2011 , 05:45:16 pm | Posted By CASANSAAR
As of November 24 this year, around 1,940 banks — mostly cooperative ones — have been named as “financial institutions that do not satisfactorily verify financial statements,” according to the UK Border Agency.
It means that students who need to show evidence that they hav...
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Students Zone |
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India GDP growth to pip China: Ernst & Young
Posted Date : 26-Oct-2011 , 05:38:33 pm | Posted By CASANSAAR
India is expected to clock higher GDP growth than China in 2013-14. This has been stated in a report by Ernst and Young in its latest report. The forecast pegs India's GDP growth rate at 9.5 percent followed by nine percent by China in 2013. Similarly, the report says that India will record gro...
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International Business |
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RBI hikes repo rate by 25 basis points; home, auto loans likely to get costlier
Posted Date : 25-Oct-2011 , 01:02:31 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Tuesday raised the repo rate by 25 basis points to 8.5 per cent. The rate hike is the 13th since early 2010 but the RBI said it was likely to hold off on further increases as it expects high inflation to ease beginning December. The central bank also der...
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RBI |
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New PAN Application Form 49AA for resident/non-resident Individual, LLP, Company, Firm, AOP, BOI
Posted Date : 25-Oct-2011 , 08:38:22 am | Posted By CASANSAAR
Income Tax Department has released a New PAN application Form No. 49AA for Individuals not being a citizen of India, LLP registered outside India, Company registered outside India, Firm formed or registered outside India, Association of persons(Trusts) formed outside India...
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Income Tax |
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Cabinet to take up Companies Bill on October 25
Posted Date : 25-Oct-2011 , 08:26:28 am | Posted By CASANSAAR
Corporate Affairs Minister Veerappa Moily on Monday said the new Company Law Bill is likely to come up before the Cabinet for approval on Tuesday."The bill is likely to come tomorrow in the Union Cabinet. I hope it gets passed," Moily told reporters here. The Bill has already been vetted by the Parl...
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Corporate Law |
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2G scam: ICSI shares MCA's view on date for capital enhancement
Posted Date : 25-Oct-2011 , 08:25:15 am | Posted By CASANSAAR
The apex body of company secretaries, ICSI, is likely to endorse the view of Ministry of Corporate Affairs (MCA) on the issue of effective date for enhancement of authorised capital that is crucial in the 2G spectrum scam case.
It is learnt that the Institute of Company Secretaries ...
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ICSI |
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NCM to take up with par panel issue of tax on donations
Posted Date : 25-Oct-2011 , 08:23:01 am | Posted By CASANSAAR
The National Minority Commission today voiced concern on a proposal in the Direct Tax Code Bill to tax donations for institutions and organisations run by a particular religion or community and is planning to take up the issue with a parliamentary committee examining it.
A delegation led b...
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Income Tax |
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CBI arrests ITO and CA in Bribery Case
Posted Date : 24-Oct-2011 , 10:01:40 pm | Posted By CASANSAAR
An Income Tax officer and a chartered accountant (CA) were arrested on Wednesday by the Central Bureau of Investigation's (CBI) Anti-Corruption Bureau (ACB) Mumbai for demanding and accepting a bribe.
The officer, Ranjan Prakash, and the CA, Vimal Patangia, were n...
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Income Tax |
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0 | Hits : 1139
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Plan Panel forms Committee to fix financial conditions of power companies
Posted Date : 24-Oct-2011 , 07:17:06 pm | Posted By CASANSAAR
The Planning Commission has set up a Committee headed by its Member B K Chaturvedi to improve the financial health of power distribution companies in the country which is reeling under huge losses.The Committee also includes representatives from the Union Finance Ministry, the Reserve Bank of In...
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Income Tax |
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Monetary policy review: RBI Governor D Subbarao likely to raise repo rate
Posted Date : 24-Oct-2011 , 08:51:24 am | Posted By CASANSAAR
A sliding rupee, the government's deteriorating finances and the persistence of a cheap money policy in the West may prompt Reserve Bank of India (RBI) governor Duvvuri Subbarao to toughen his stance against the call for a pause in raising interest rates on Tuesday, despite a dozen increases sinc...
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RBI |
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Revenue Department takes notice of 9 lakh entities stop filing returns
Posted Date : 23-Oct-2011 , 03:44:30 pm | Posted By CASANSAAR
The Revenue Department has decided to cross check service tax returns in order to locate 9 lakh entities that have stopped filing returns. E -filing has been made mandatory from this year and the exercise of cross checking is likely to start after December 26, the last date for e-filing.According to...
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Service Tax |
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0 | Hits : 992
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EU leaders meet in Brussels to prevent financial crisis
Posted Date : 23-Oct-2011 , 03:43:22 pm | Posted By CASANSAAR
All the 27 European Union leaders are meeting in Brussels today to decide measures to prevent Europe's financial crisis from spiraling out of control. British Prime Minister is set to join the EU leaders. Ahead of the meeting in Brussels, German Chancellor Angela Merkel said she believed the leaders...
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International Business |
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Swan Telecom was just a mask for Reliance Telecom: court
Posted Date : 23-Oct-2011 , 03:41:35 pm | Posted By CASANSAAR
Anil Dhirubhai Ambani Group (ADAG)-led Reliance Telecom Ltd (RTL) was today put on trial in 2G spectrum allocation scam case by a Delhi court which said Shahid Balwa-promoted Swan Telecom Pvt Ltd (STPL) was "just a mask" for RTL. Special CBI Judge O P Saini dismissed the contention of RTL th...
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General |
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EU debt crisis, US slowdown impacting India: Pranab Mukherjee
Posted Date : 23-Oct-2011 , 08:13:19 am | Posted By CASANSAAR
Debt crisis in Europe and slowdown in the US are having an adverse impact on India, but the fundamentals of the country's economy remain intact, Finance Minister Pranab Mukherjee said today. Addressing the National Development Council (NDC) meeting here, he said "while there may be some mode...
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International Business |
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UK anti-monopoly agency to investigate
Posted Date : 22-Oct-2011 , 09:35:38 am | Posted By CASANSAAR
Britain’s Office of Fair Trading has ordered a full-scale competition review of the four big auditing companies which dominate the market.
PricewaterhouseCoopers, KPMG, Deloitte, and Ernst & Young last year collectively earned 99 percent of the audit fees paid by ...
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Auditing |
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I-T dept sends fresh notice to Kejriwal to clear dues
Posted Date : 22-Oct-2011 , 08:25:52 am | Posted By CASANSAAR
Team Anna member Arvind Kejriwal has been slapped with a fresh notice by the Income Tax department, asking him to pay dues of Rs 9.50 lakh by October 27. The notice says his resignation from the service will be accepted only if the dues are cleared.Kejriwal, currently campaigning for the J...
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Income Tax |
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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 ...
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General |
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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 ; ...
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Income Tax |
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0 | Hits : 815
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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...
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SEBI |
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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...
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Income Tax |
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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 ...
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Accounts |
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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 ...
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General |
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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...
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Corporate Law |
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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 ...
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Service Tax |
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0 | Hits : 1039
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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...
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International Business |
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0 | Hits : 993
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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 ...
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Banking |
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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...
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Banking |
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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 ...
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Finance |
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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...
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Income Tax |
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