FM Reviews Economic Situation with RBI Governor and Chairman, Pmeac
Posted Date : 20-Aug-2011 , 12:13:32 pm | Posted By CASANSAAR
The Union Finance Minister, Shri. Pranab Mukherjee yesterday reviewed the global economic situation with RBI Governor, Dr. Subba Rao, and the Chairman of the Prime Minister’s Economic Advisory Council, Dr.C. Rangarajan. The discussions focused on the slow economic growth in the US and debt wor...
Continue Reading...
Category :
Finance |
Comments :
0 | Hits : 763
|
 |
India holds 40% of Dubai export market
Posted Date : 20-Aug-2011 , 11:59:47 am | Posted By CASANSAAR
Dubai export markets by value are highly concentrated in India and Switzerland, comprising 40 per cent and 20 per cent, respectively, a government agency has said. According to Dubai Exports, an agency of the Department of Economic Development (DED), this has been due to the export of gol...
Continue Reading...
Category :
International Business |
Comments :
0 | Hits : 916
|
|
Minimum monthly pension for members of EPF could soon increase to Rs 1,000
Posted Date : 20-Aug-2011 , 11:58:25 am | Posted By CASANSAAR
The embattled UPA government is set to give a bonanza to 60 million workers in the organised sector. The minimum monthly pension for members of the Employees' Provident Fund (EPF) could soon increase to Rs 1,000. Currently, most EPF pensioners receive less than Rs 500 a month, but for som...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 972
|
|
Date for Receipt of Applications for Pre-Matric and Post-Matric Scholarship Schemes Extended by the Ministry of Minority Affairs
Posted Date : 20-Aug-2011 , 11:56:16 am | Posted By CASANSAAR
The Ministry of Minority Affairs has extended the last date for receipt of applications from students by States / UTs for fresh cases of Pre-matric and Post-matric Scholarship Schemes up to 31st August, 2011. As per the time-line for Pre-matric and Post-matric Scholarship Schemes 2011-12 issued...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 728
|
|
Govt sets up panel to probe tax-related offences
Posted Date : 20-Aug-2011 , 11:54:27 am | Posted By CASANSAAR
The Finance Ministry has set up a Directorate of Income Tax (Criminal Investigation) to investigate criminal offences under direct tax laws, the Parliament was informed today.
"The Directorate of Income Tax (Criminal Investigation) is mandated to perform functions in respect of criminal m...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 823
|
|
India amending Double Taxation Avoidance Agreement says, finance minister Pranab Mukherjee
Posted Date : 19-Aug-2011 , 04:52:06 pm | Posted By CASANSAAR
The government is amending the Double Taxation Avoidance Agreement it has with four countries and is also negotiating with 16 entities to improve information sharing on black money as part of the Tax Information Exchange Agreement. Finance minister Pranab Mukherjee said in response to a query during...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 855
|
|
EFCAI urges RBI to allow post offices function as banks
Posted Date : 19-Aug-2011 , 04:50:38 pm | Posted By CASANSAAR
Entrepreneurs and Finance Customer Association of India (EFCAI) has urged Reserve Bank of India (RBI) to allow post offices function as Banks. In a memorandum submitted to RBI deputy governor, H R Khan here, the EFCAI has pointed out that India has the world's largest postal network in India with ov...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 844
|
|
Bank of America to axe 3,500 jobs, more cuts in store: WSJ
Posted Date : 19-Aug-2011 , 04:46:25 pm | Posted By CASANSAAR
Bank of America Corp will slash 3,500 jobs in the current quarter and is working on broader restructuring that could eliminate thousands of additional positions, a media report says.
Citing people familiar with the situation, the Wall Street Journal said the cuts are expected to be comple...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 846
|
|
India Inc can soon tap CAs for arbitration services
Posted Date : 19-Aug-2011 , 04:44:23 pm | Posted By CASANSAAR
For corporates faced with commercial disputes, a cost effective mechanism that would also ensure their speedy disposal is on the anvil.
The Institute of Chartered Accountants of India (ICAI) is piloting a new initiative by empanelling its members as arbitrators.
This move could help bring down t...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 1036
|
|
Black Money: Business association and lobbies give a cold shoulder to provide views on how to tackle the issue
Posted Date : 19-Aug-2011 , 06:05:05 am | Posted By CASANSAAR
The government's efforts to get the industry involved on the hugely emotive issue of black money has been given a cold shoulder with none of the business association and lobbies coming forward to provide views on how to tackle black money. "We are now extending the deadline to September 15 and writi...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 765
|
|
Essar Steel Orissa Ltd charged with green violation
Posted Date : 19-Aug-2011 , 06:02:36 am | Posted By CASANSAAR
The Wildlife Society of Orissa (WSO) has accused the Orissa government of not asking Essar Steel Orissa Ltd to stop dredging sand from the bed of River Mahanadi near Paradip in complete violation of the Coastal Regulatory Zone (CRZ) Notification, 2011 and Forest (Conservation) Act, 1980. ESOL is set...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 803
|
|
Twelfth five-year plan to aim at 9% growth rate
Posted Date : 19-Aug-2011 , 06:01:31 am | Posted By CASANSAAR
The next five-year plan is going to maintain its target growth rate at 9% despite recent events pointing to apprehensions of a downturn in western economies. The planning commission is due to firm up its approach to the twelfth plan (2012-17) on August 20 in a meeting chaired by Prime Minister Manmo...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 849
|
|
Benami transactions bill introduced in Parliament
Posted Date : 19-Aug-2011 , 05:59:26 am | Posted By CASANSAAR
The government on Thursday introduced in Parliament a comprehensive bill to clampdown on 'benami transactions'. The Benami Transactions (Prohibition) Bill 2011 provides for confiscation of such property and imprisonment. The new bill, introduced by finance minister Pranab Mukherjee, will replace the...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 1016
|
|
Jan Lokpal Bill: Anna Hazare to fast at Ramlila Maidan from tomorrow
Posted Date : 18-Aug-2011 , 02:45:05 pm | Posted By CASANSAAR
Gandhian Anna Hazare will fast at Ramlila Maidan from tomorrow. Arvind Kejriwal, a civil society member said that Anna will leave Tihar only after taking stock of preparations. Team Anna members said that once Ramlila Maidan is ready, Anna will leave Tihar Jail. Meanwhile, Team Anna has gi...
Continue Reading...
Category :
General |
Comments :
2 | Hits : 990
|
|
Anti-dumping duty on Chinese chemical extended for 5 yrs
Posted Date : 18-Aug-2011 , 02:41:00 pm | Posted By CASANSAAR
The government has decided to continue imposing anti-dumping duty of up to $ 515.94 per tonne on imports of a chemical from China, used in industries like pharmaceuticals and dyeing, for five more years to protect domestic industry. The restrictive duty on Sodium Nitrite, which is also used in ...
Continue Reading...
Category :
Custom |
Comments :
0 | Hits : 1114
|
|
Coal India topples RIL as India's most valued firm
Posted Date : 18-Aug-2011 , 09:01:58 am | Posted By CASANSAAR
Coal India (CIL) has overtaken Reliance Industries (RIL) as the country’s most valuable company by market capitalisation.
At Wednesday’s closing price, Coal India’s market capitalisation stood at Rs2.51 lakh crore ($55 billion), while that of Reliance was at Rs2.47 lakh crore ($...
Continue Reading...
Category :
Shares & Stock |
Comments :
0 | Hits : 816
|
|
Now, govt eyes TDS in service tax
Posted Date : 18-Aug-2011 , 08:18:02 am | Posted By CASANSAAR
The Central Board of Excise and Customs (CBEC) has proposed to introduce a Tax Deducted at Source (TDS) mechanism in collecting service tax.
TDS has been successfully used for direct taxes like the income tax. Although the proposal is at initial stage, the board has set up a study g...
Continue Reading...
Category :
Service Tax |
Comments :
1 | Hits : 1174
|
|
SEBI comes out with a proposed regulatory regime for AIF
Posted Date : 18-Aug-2011 , 08:14:33 am | Posted By CASANSAAR
Sebi recently came out with a proposed regulatory regime for alternative investment funds ( AIF). While the regulator has its heart in the right place, the proposals need to be thought through from the ground up. It would be useful to summarise briefly what Sebi is seeking to do with these p...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 799
|
|
Pranab rejects Moily proposal of merging CBEC & CBDT
Posted Date : 18-Aug-2011 , 08:09:08 am | Posted By CASANSAAR
Finance Minister Pranab Mukherjee has rejected the proposal of former law minister M Veerappa Moily to merge Central Board of Direct Taxes (CBDT) and Central Board of Excise and Customs (CBEC) to curb black money generation.
In his capacity as the law minister, Moily in a letter to Mukherje...
Continue Reading...
Category :
Finance |
Comments :
0 | Hits : 859
|
|
Government suspends M Ramadoss as chairman of New India Assurance
Posted Date : 18-Aug-2011 , 08:06:13 am | Posted By CASANSAAR
The government has suspended M Ramadoss chairman of New India Assurance of the country's largest general insurance firm. Central Bureau of Investigation is examining Ramadoss' role in the irregularities in distribution of credit insurance cover to Paramount Airways.
This is the second inst...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 762
|
|
Statement of Prime Minister today in Lok Sabha on Anna Hazarre's movement for bringing Jan Lokpal Bill.
Posted Date : 17-Aug-2011 , 01:47:56 pm | Posted By CASANSAAR
Following is the text of the statement made by the Prime Minister, Dr. Manmohan Singh in the Lok Sabha today:
"Hon’ble Speaker,
2. It is my painful duty to report to this House certain events that took place yesterday in New Delhi.
3. Hon’ble Members are aware that after...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 1071
|
|
ICAI
Posted Date : 17-Aug-2011 , 08:02:48 am | Posted By CASANSAAR
Status of In-charge of Head office or branch of Chartered Accountant Firm
ICAI has considered the issue regarding status of In-charge of a Head Office of a firm of chartered accountants or its Branch Office and clarified that- “A member designated In-charge of an office of a chartered accou...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 1088
|
|
ED
Posted Date : 17-Aug-2011 , 08:00:51 am | Posted By CASANSAAR
The Minister of State for Finance, Mr Namo Narain Meena, told the Rajya Sabha on Tuesday that the Directorate of Enforcement (ED) has initiated enquiries against Bharti Airtel about alleged contraventions of the Foreign Exchange Management Act (FEMA).
The Minister also said that the market regula...
Continue Reading...
Category :
FEMA |
Comments :
0 | Hits : 868
|
|
I-T dept to expedite systems for quick processing of returns
Posted Date : 17-Aug-2011 , 07:59:25 am | Posted By CASANSAAR
Encouraging results of the income tax department’s efforts to promote electronic filing of returns have prompted the Central Board of Direct Taxes (CBDT) to accelerate the procedure and stabilise systems infrastructure so as to ensure quick processing of all I-T returns.
The Centralised Proce...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 754
|
|
Rs 20 lakh crore illicit money flows out from India : GFI
Posted Date : 17-Aug-2011 , 07:57:28 am | Posted By CASANSAAR
A report of Global Financial Integrity (GFI) has estimated the total value of illicit money that has flown out of India at 462 billion US dollar approximately 20 lakh crore rupees. In a written reply to the Rajya Sabha, minister of state for Finance,S S Palanimanickam informed this. He said, the pre...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 757
|
|
Finance Minister gives go-Ahead to Environment Strategy for Central Board of Excise and Customs
Posted Date : 17-Aug-2011 , 07:55:38 am | Posted By CASANSAAR
In a first for any taxation department, the Union Finance Minister Shri Pranab Mukherjee has given his go-ahead to an “Environment Strategy” for the Central Board of Excise and Customs (CBEC) that would change the way business is done by the Customs, Central Excise and Service Tax offici...
Continue Reading...
Category :
Excise |
Comments :
0 | Hits : 706
|
|
July headline inflation at 9.22 pc y/y: Govt
Posted Date : 16-Aug-2011 , 01:03:33 pm | Posted By CASANSAAR
India's wholesale price index (WPI) rose an annual 9.22 percent in July, government data showed on Tuesday. The figure was almost in line with the median forecast for a 9.20 percent rise in a Reuters poll and was lower than the annual rise of 9.44 percent in June. The WPI is more closely w...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 815
|
|
Govt debts crossed $41 trillion globally in 2010
Posted Date : 16-Aug-2011 , 01:02:16 pm | Posted By CASANSAAR
The total amount of debt incurred by governments across the world jumped to a staggering USD 41.1 trillion last year, accounting for 69 per cent of the global GDP, because of stimulus packages and anaemic economic growth, says a report. Many governments , especially in the developed world, have...
Continue Reading...
Category :
Finance |
Comments :
0 | Hits : 746
|
|
Sebi probe shows rise in dirty money in stock market
Posted Date : 16-Aug-2011 , 08:31:13 am | Posted By CASANSAAR
The finance ministry, in response to a Parliament question, has not ruled out that a lot ofblack money is flowing into the stock market. Suspicious transactions reported by mutual funds, depository participants and stock brokers have shown a 40% growth in the last one year, with the Securi...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 779
|
|
No immediate threat to India's sovereign rating: S&P
Posted Date : 16-Aug-2011 , 08:29:02 am | Posted By CASANSAAR
Standard and Poor's has said there is no immediate threat to India's sovereign debt rating of BBB, though loose fiscal policy and the government's inability to carry forward economic reforms could have implications in the medium term. "We do not see an immediate impact on India's sovereign ra...
Continue Reading...
Category :
International Business |
Comments :
0 | Hits : 805
|
|
|
