RBI monitoring economy, liquidity before policy action
Posted Date : 06-Jun-2011 , 10:57:22 am | Posted By CASANSAAR
Ahead of its mid-quarterly policy review, the Reserve Bank today said it is monitoring the economic data and also the liquidity situation, and would take a forward-looking view while deciding on the policy action."We would monitor various data...and take a forward- looking view and take action", RBI...
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RBI |
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SC issues notice to government on eviction of Baba Ramdev
Posted Date : 06-Jun-2011 , 03:37:41 am | Posted By CASANSAAR
The Supreme Court on Monday issued notice to the government on eviction of Baba Ramdev from the Ramlila ground. Taking suomoto cognizance of Baba's eviction by the government the apex court gave the government two-week notice to respond. An advocate on Sunday approached the Supreme Court seekin...
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General |
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SEBI plans independent auditor for IPOs
Posted Date : 05-Jun-2011 , 09:07:07 pm | Posted By CASANSAAR
The Securities and Exchange Board of India (SEBI) is contemplating introducing a process audit — to be carried out by an independent auditor— of initial public offerings or IPOs.
The auditor would examine the procedures followed by registrar & transfer agents responsible for...
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SEBI |
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Capital inflows not sensitive to interest rate changes: RBI
Posted Date : 05-Jun-2011 , 09:00:12 pm | Posted By CASANSAAR
Foreign capital inflows are insensitive to interest rate changes in the country, according to a Reserve Bank of India (RBI) study. It said that a percentage point rise in interest rate results in just about 0.05 percentage points increase in net capital flows to India. The RBI said domestic industri...
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RBI |
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CBI to hire bankers, chartered accountants
Posted Date : 05-Jun-2011 , 08:57:51 pm | Posted By CASANSAAR
With the graph of economic crimes on the rise, the Central Bureau of Investigation (CBI) plans to recruit more chartered accountants and bankers.
“Specialist investigators will be inducted for cases of banking and other economic frauds,” CBI sources said, adding that newer kinds...
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General |
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CBI, I-T on Ramdev trail
Posted Date : 05-Jun-2011 , 08:49:46 pm | Posted By CASANSAAR
After the midnight purge, Baba Ramdev now faces CBI and income tax department scrutiny. The government activated the two agencies to look into the companies, properties and audit accounts of the yoga guru and his aides on Sunday, the day it broke up his fast,evicting him and his supporters from the ...
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Income Tax |
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Baba Ramdev evicted after lathicharge, tear gas shells
Posted Date : 04-Jun-2011 , 09:18:24 pm | Posted By CASANSAAR
Baba Ramdev's hunger fast and protest against corruption ended with scenes of violence and drama after the Delhi police used a lathicharge and tear gas shells on the Baba's supporters before detaining him at Ramlila Maidan which had served all day as a sort of capital city for the yoga icon and his ...
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General |
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India's forex reserves rise by $1.68 billion to $310.21 billion
Posted Date : 04-Jun-2011 , 08:03:41 am | Posted By CASANSAAR
India's foreign exchange (forex) reserves rose by $1.68 billion to $310.21 billion for the week ended May 27 on the back of a sharp increase in foreign currency assets. This is the second consecutive weekly jump in the country's forex reserves kitty. The forex reserves had increased by $1.04 bil...
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Finance |
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PAN to be must for all high-value spendings, overseas travels and new debit cards to come under lens
Posted Date : 03-Jun-2011 , 08:30:00 pm | Posted By CASANSAAR
All high-value jewellery purchases, debit card requests, overseas travels, and life insurance premiums over Rs 50,000 will soon be tagged, with the Central Board of Direct Taxes making it mandatory to quote permanent account numbers (PAN) in such transactions. The Income-Tax department has amended r...
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Income Tax |
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Govt amends guidelines, allows tax relief for infrastructure funding companies
Posted Date : 03-Jun-2011 , 11:28:25 am | Posted By CASANSAAR
The government today amended guidelines for Public Financial Institutions (PFIs) permitting private companies, primarily engaged in infrastructure funding , to attain the status of a PFI and, seek tax and other benefits. Under the new norms notified by the Ministry of Corporate Affairs, any company ...
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Income Tax |
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RIL to become debt-free this year: Mukesh Ambani
Posted Date : 03-Jun-2011 , 04:05:50 am | Posted By CASANSAAR
Corporate giant Reliance Industries' Chief Mukesh Ambani today announced that the company would become debt-free in the current financial year.Announcing a bullish stance on the company's financial position, the Chairman and MD said that RIL would become debt-free on a net basis in the current 2011-...
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General |
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Draft norms on new bank licences soon
Posted Date : 02-Jun-2011 , 09:00:07 pm | Posted By CASANSAAR
The Finance Ministry on Thursday said the Reserve Bank will come out with the draft guidelines on new bank licences soon.
“The RBI has given it (recommendations) to the Finance Ministry and is also consulting other stakeholders. Based on this, they will come out with draft guidelines ...
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Banking |
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Income-tax department to seek details of Hasan Ali Khan's Swiss Bank accounts
Posted Date : 02-Jun-2011 , 08:51:56 pm | Posted By CASANSAAR
The income-tax department is preparing to send another Letter Rogatory to Swiss authorities, seeking details of Pune-based stud farm owner Hasan Ali Khan's Swiss Bank accounts . As part of this exercise, it has asked the Enforcement Directorate to provide a copy of the statements given to it by Khan...
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Income Tax |
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CAG’s Online National Level Essay Competition Begins Today
Posted Date : 02-Jun-2011 , 12:12:47 pm | Posted By CASANSAAR
As part of the 150 years’ celebrations of the Institution of the CA&G of India, a national level on-line essay competition for the graduate and post graduate students in all the disciplines has been organized from today. The subject is “Role of CAG in Meeting Challenges of Good Gover...
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Auditing |
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Allotment Of Director Identification Number (Din) Under Companies Act, 1956
Posted Date : 02-Jun-2011 , 12:08:35 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs has decided that with effect from 12th June, 2011, all DIN-1 & DIN-4 applications has to be digitally signed by the practicing Chartered Accountants, Company Secretaries or Cost Accountants who shall also verify the particulars of the applicant given in the appl...
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Corporate Law |
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RBI panel calls for secure systems to check credit card frauds
Posted Date : 02-Jun-2011 , 12:03:11 pm | Posted By CASANSAAR
Amid rising instances of debit and credit card frauds, a RBI panel has recommended that banks should put in place secure systems to check such cases within a year's time."All acquirers and issuers may put in place adequate fraud risk management systems and processes (within) 12 months," said the pan...
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RBI |
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Govt committed to achieve 2011-12 fiscal targets:Pranab
Posted Date : 02-Jun-2011 , 11:59:40 am | Posted By CASANSAAR
Buoyed by better-than-expected performance on government finances' front in 2010-11, the Centre today said it will keep a tab on public expenditure to ensure that Budget targets for this fiscal too are achieved."Efforts to get the economy on the path of fiscal prudence are on track... The government...
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Finance |
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Now UK council offshores jobs to India
Posted Date : 02-Jun-2011 , 04:44:47 am | Posted By CASANSAAR
The Birmingham City Council led by the Conservative party has become the first council or local authority in Britain to cut jobs and outsource them to India, sparking protests from employee unions.Reacting to the council's move, Unite union national officer Peter Allenson said: "This is an outrag...
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General |
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Compliance of Provision of the Companies Act,1956 and Rules made there under.
Posted Date : 02-Jun-2011 , 04:41:57 am | Posted By CASANSAAR
In order to ensure corporate governance and proper compliances of provisions of Companies Act, 1956, the Ministry of Corporate Affairs has decided that from 3rd July, 2011 all the Companies will have to file their updated Balance Sheet and Profit & Loss Accounts and Annual Return with the Regi...
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Corporate Law |
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HC rejects Shanti Bhushan''s plea seeking IT waiver for surgery
Posted Date : 01-Jun-2011 , 09:08:08 pm | Posted By CASANSAAR
Shanti Bhushan, former Union Minister and member of Lokpal Bill drafting committee, the Delhi High Court today dismissed his plea seeking waiver in the levy of income tax on expenses incurred for his heart surgery at Houston in the USA.
"We are of the opinion that concerning judgements and ...
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Income Tax |
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Satyam auditor wins rights
Posted Date : 01-Jun-2011 , 09:05:33 pm | Posted By CASANSAAR
The Securities Appellate Tribunal (SAT) today directed the capital market watchdog to allow audit firm Price Waterhouse to cross-examine certain individuals, including Satyam Computer Services founder B. Ramalinga Raju, who had given statements to Sebi during its inquiry into the country’s big...
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Auditing |
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Govt overdrive to check black money yielding results
Posted Date : 01-Jun-2011 , 08:20:15 am | Posted By CASANSAAR
Amid the threat of Yoga Guru Baba Ramdev to go on hunger strike on the issue of black money from June 4, the government today said the series of steps taken by it to unearth unaccounted wealth have started yielding results.The income tax department, sources said, has detected unaccounted income o...
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Income Tax |
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Sunil Mitra takes charge as Finance Secy; replaces Nath
Posted Date : 01-Jun-2011 , 08:19:09 am | Posted By CASANSAAR
Sunil Mitra has been appointed as the Finanace Secretary with effect from today, replacing Sushama Nath, who superannuated yesterday.Mitra, a 1975-batch IAS officer from the West Bengal cadre, retains the charge of Revenue Secretary as well, according to an official statement.Sumit Bose is the ne...
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Finance |
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Revised Schedule VI not to apply for Nov.11 CA Exams
Posted Date : 01-Jun-2011 , 07:12:30 am | Posted By CASANSAAR
ICAI has announced that a decision has been taken to defer the applicability of the Revised Schedule VI for CA examination, consequent to which the same will Not be Applicable for the PCC, IPCC and Final examinations to be held in November, 2011.
This Notification overrules the notification ...
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Students Zone |
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To retrieve tax arrears, I-T to unleash power to arrest
Posted Date : 01-Jun-2011 , 06:09:06 am | Posted By CASANSAAR
The Income Tax Department is all set to crack the whip on tax defaulters by invoking its power, which has not been used for many years, to arrest and prosecute evaders.The step comes in the backdrop of the government initiating various steps to curb generation of black money in the country and a...
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Income Tax |
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I-T aims at over Rs 1 lkh cr refunds this fiscal: CBDT
Posted Date : 31-May-2011 , 09:39:30 pm | Posted By CASANSAAR
The Income Tax Department today said it aims to disburse refunds of over Rs 1 lakh crore this fiscal, against Rs 73,000 crore given in the previous fiscal. "We intend to refund approximately Rs 1 lakh crore this fiscal," the outgoing Chairman of Central Board of Direct Taxes (CBDT) Sudhir Chandra sa...
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Income Tax |
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Bank of India raises deposit rate by up to 2.5 per cent
Posted Date : 31-May-2011 , 09:35:33 pm | Posted By CASANSAAR
State-owned Bank of India (BoI) today raised fixed deposit rates on various maturities by up to 2.5 per cent.The bank increased the interest rate by 250 basis points (2.5 per cent) to 5.50 per cent for term deposits of 31-45 days' tenor. The deposit rate increase is the maximum in this slab, the ban...
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Banking |
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JPC questions CAG on presumptive loss
Posted Date : 31-May-2011 , 09:32:50 pm | Posted By CASANSAAR
The Joint Parliamentary Committee (JPC) probing the 2G scam on Monday questioned Comptroller and Auditor General of India (CAG) Vinod Rai on how the department estimated the presumptive loss at Rs 1.76 lakh crore, and also whether it had the mandate to look into a policy decision.
S...
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Auditing |
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Montek favours introducing inheritance tax
Posted Date : 31-May-2011 , 09:12:17 pm | Posted By CASANSAAR
Planning Commission Deputy Chairman Montek Singh Ahluwalia today favoured imposition of inheritance tax as part of overall direct tax reforms.
"I think in any comprehensive reform of the direct tax system, if somebody were to say that we should have an inheritance tax, it should be considered as pa...
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Income Tax |
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1 | Hits : 258
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CBDT retains right to snoop on tax evaders
Posted Date : 31-May-2011 , 09:10:34 pm | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT), the controlling authority of Income Tax department, will continue to have the right to tap phones of tax evaders on specific information, outgoing CBDT chairman Sudhir Chandra said on Tuesday.
"The power of interception stays with CBDT as there is no change...
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Income Tax |
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