Zero balance in a/c need not worry you anymore : RBI's decision to be out soon
Posted Date : 10-Aug-2011 , 11:54:27 am | Posted By CASANSAAR
The high court on Tuesday observed that banks recovering penal charges from customers not maintaining minimum balance in their accounts might have to pay back the amount with penal interest once the RBI comes out with its decision. The court's observation came following a public interest ...
Continue Reading...
Category :
RBI |
Comments :
1 | Hits : 1612
|
 |
Mauritius & Singapore compete for preferred tax gateways to India
Posted Date : 10-Aug-2011 , 11:25:47 am | Posted By CASANSAAR
The equatorial island nations of Mauritius and Singapore are competing for the role of preferred gateway for foreign investments into India and other Asian countries. Think of it as a triangle, not of love, but of lucre. Companies and rich investors use gateway countries so they can earn profit...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 784
|
|
Indirect tax mopup rises 16.4% to Rs 31.5k cr in July
Posted Date : 10-Aug-2011 , 10:03:08 am | Posted By CASANSAAR
Four months into the new fiscal, the indirect tax collections are holding up well, suggesting that the slowdown is yet to impact tax collections materially. Indirect tax collections in July were up 16.4% from a year ago. In the April-July period the kitty was up 27% from a year ago. "Overall central...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 655
|
|
Switch over to base rate from PLR system
Posted Date : 09-Aug-2011 , 09:57:40 pm | Posted By CASANSAAR
Following the announcement in the Annual Policy Statement for the year 2009-10, Reserve Bank of India (RBI) constituted a Working Group on Benchmark Prime Lending Rate (BPLR) to review the present BPLR system and suggest changes to make credit pricing more transparent. Based on the recommendations o...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 954
|
|
Govt permits foreign investors to invest up to $13 bn in MFs
Posted Date : 09-Aug-2011 , 09:55:00 pm | Posted By CASANSAAR
The government today allowed foreign investors to invest up to $ 13 billion in equity and debt schemes of mutual funds, a move aimed at enhancing depth in the capital market. The announcement comes at a time when there are concerns over the flight of foreign capital and is expected to provide muc...
Continue Reading...
Category :
Shares & Stock |
Comments :
0 | Hits : 838
|
|
Gross NPAs of Public Sector Banks Stood at Rs.71,047 Crore as on 31st March,2011
Posted Date : 09-Aug-2011 , 09:39:08 pm | Posted By CASANSAAR
The Gross Non-performing Assets (NPA) of Public Sector Banks (PSBs) for the period ending March, 2011 stood at Rs. 71,047 crore.
The Gross NPA of State Bank of India for the period ending March, 2011 was Rs. 23,074 crore which constitutes 32% of total Gross NPAs of the PSBs.
This infor...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 852
|
|
Tax arrears of Rs 3.89 lakh cr not realised in FY11
Posted Date : 09-Aug-2011 , 09:35:48 pm | Posted By CASANSAAR
Both direct and indirect tax arrears increased by about 33% to Rs 3.9 lakh crore in 2010-11.
Minister of State for Finance SS Palanimanickam, while replying to different questions in Rajya Sabha, informed that direct tax arrears worth Rs 3,33,077 crore were not realised, while it was Rs 5...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 776
|
|
I-T zeroes in on 50 high-value tax defaulters
Posted Date : 09-Aug-2011 , 04:50:14 pm | Posted By CASANSAAR
Under pressure to unearth blackmoney, the Income Tax department has tracked down over 50 high-value defaulters, who had declared their assets to be zero, with tax liability of over Rs 10 crore. The department has collected information about these defaulters from various sources and will soon in...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 798
|
|
D Subbarao gets 2-year extension as RBI Governor
Posted Date : 09-Aug-2011 , 04:46:24 pm | Posted By CASANSAAR
Ending months of suspense, Prime Minister Manmohan Singh today gave a two-year extension to RBI Governor D Subbarao beyond September. "The Prime Minister approved the extension to D Subbarao, Governor of RBI, for two years," a PMO spokesman said. The extension will be with effect fro...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 786
|
|
Important Instructions for Online Exam Applications - November, 2011
Posted Date : 09-Aug-2011 , 04:43:23 pm | Posted By CASANSAAR
Closing Dates for Online Submission of Exam Application Form for NOVEMBER 2011 Exams are 30th August, 2011 without late fee and 6th September, 2011 with late fee. No New Registrations will be accepted after 17.30 hours (IST) of 6th September, 2011.
DO NOT OPEN MORE THAN ONE SESSION AT THE SAME T...
Continue Reading...
Category :
Students Zone |
Comments :
0 | Hits : 2053
|
|
CAs should audit social welfare schemes: ICAI
Posted Date : 09-Aug-2011 , 08:21:30 am | Posted By CASANSAAR
The Centre and the state governments must allow certified Chartered Accountants to audit the financial expenses of social welfare schemes and cooperative societies, said G Ramaswamy, president, Institute of Chartered Accountants of India (ICAI).
"We have sent the proposal to respe...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 1011
|
|
How to track your income tax refund
Posted Date : 09-Aug-2011 , 08:18:21 am | Posted By CASANSAAR
The Income Tax Department entertains queries for all assessees regarding the refunding of income tax through the Tax Information Network (TIN). The SBI has been appointed as the refund banker, which processes refunds and routes them to the assessees' bank accounts. If the assessee does not choose di...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1709
|
|
US rating downgrade may hit India IT hiring by 1/4th
Posted Date : 09-Aug-2011 , 08:17:44 am | Posted By CASANSAAR
Hiring activity in the Indian IT sector, one of the biggest employers in the country, could fall by about one-fourth due to the downgrade of the USA's credit rating and the deepening economic crisis, experts said. It might take at least 5-6 months for the recruitment activities of the IT sector...
Continue Reading...
Category :
International Business |
Comments :
0 | Hits : 821
|
|
Goldman Sachs upgrades India's rating to 'market weight'
Posted Date : 09-Aug-2011 , 08:14:32 am | Posted By CASANSAAR
Citing expected improvement in the macro-economic situation, global investment bank, Goldman Sachs today upgraded India's rating to 'market weight', from the earlier 'under-weight,' indicating bullishness in the short-term.Goldman Sachs also cited lower oil prices,and the government's push for polic...
Continue Reading...
Category :
International Business |
Comments :
0 | Hits : 822
|
|
Misuse of Public Issue Funds by Companies
Posted Date : 09-Aug-2011 , 08:12:55 am | Posted By CASANSAAR
The Minister of State in the Ministry of Corporate Affairs today informed the Rajya Sabha that such complaints relate to misuse of public issue funds by way of diversion of funds, non-fulfillment of terms and conditions for the completion of the projects as per the time schedule given in the prospec...
Continue Reading...
Category :
Corporate Law |
Comments :
2 | Hits : 825
|
|
I-T dept says telecom firms haven
Posted Date : 09-Aug-2011 , 08:09:13 am | Posted By CASANSAAR
The Mumbai income-tax (I-T) department sent a note to the finance ministry and the Central Board of Direct Taxes (CBDT) last week saying telecom firms haven’t paid an estimated Rs. 1,000 crore of tax deducted at source (TDS) while selling their prepaid products through distributors...
Continue Reading...
Category :
Income Tax |
Comments :
2 | Hits : 814
|
|
US crisis may hit export & capital flows: C Rangarajan
Posted Date : 08-Aug-2011 , 04:13:27 pm | Posted By CASANSAAR
Prime Minister's Economic Advisory Council Chairman C Rangarajan today said the downgrade of the US sovereign rating will negatively impact exports and moderate capital flows into the country. "More than the downgrade, what will be the impact for the rest of the world will be the slow pace ...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 798
|
|
No difficulty to bring Direct Tax Code into operation from Ist April: FM
Posted Date : 08-Aug-2011 , 07:45:56 am | Posted By CASANSAAR
Union Finance Minister has said that there would be no difficulty to bring Direct Tax Code, DTC into operation from 1st of April next year. Mr. Pranab Mukherjee expressed hope that the Parliamentary Standing Committee will submit its report by Winter Session of Parliament. Speaking at a function in ...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 906
|
|
Sebi to upgrade surveillance system
Posted Date : 08-Aug-2011 , 07:42:38 am | Posted By CASANSAAR
Market watchdog the Securities and Exchange Board of India (Sebi) is planning a major upgradation of its key surveillance system through which it monitors data from stock exchange and depositories for identifying the manipulation activities.
The move would help the regulator in its efforts ...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 815
|
|
France hands over list of 700 bank accounts in Switzerland
Posted Date : 08-Aug-2011 , 07:38:13 am | Posted By CASANSAAR
After the list of bank accounts of Indians in Liechtenstein, it is the turn of HSBC accounts in Geneva. The government last month received a list of some 700 bank accounts in Switzerland from the French government and investigations are already underway to determine whether any of the account holder...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 906
|
|
Sebi issues notice to NSE on code changes by brokers
Posted Date : 08-Aug-2011 , 07:35:47 am | Posted By CASANSAAR
In a first, the capital market regulator, the Securities and Exchange Board of India, has issued a show-cause notice to the country's leading stock exchange, National Stock Exchange, following a probe into alleged client code modifications by its broker members. The notice has asked the bourse to ex...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 947
|
|
Telecom firms will pay service tax on sale of SIM cards: SC
Posted Date : 08-Aug-2011 , 07:30:19 am | Posted By CASANSAAR
The Supreme Court has held that telecom operators will have to pay service tax on the sale of SIM cards as these transactions entail their processing and activation for providing cellphone services.
Upholding the judgement of the Kerala high court, a bench of justices Mukundakam Sharma and A R Dav...
Continue Reading...
Category :
Service Tax |
Comments :
0 | Hits : 930
|
|
Hyundai mulls legal action against DRI tax evasion notice
Posted Date : 08-Aug-2011 , 07:28:41 am | Posted By CASANSAAR
The country's second largest car maker Hyundai Motor India today said it is considering to take legal steps against the Rs 266-crore tax evasion notice issued by the Directorate of Revenue Intelligence (DRI). "Our legal team is in the process of preparing an appropriate response to the show cause no...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 947
|
|
e-Filing for AY 10-11
Posted Date : 08-Aug-2011 , 07:26:31 am | Posted By CASANSAAR
e-Filing for AY 10-11: Quick Statistics (as on 31st July 2011)
QUICK HIGHLIGHTS OF E-FILING IN F.Y. 2011-12 (UPTO 31/7/2011)
COMPARATIVE GROWTH OF E-FILING IN CURRENT YEAR
FORM WISE RECEIPT OF E-RETURNS UPTO 31st JULY
S.N.
FORM...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 939
|
|
I-T dept to share PAN database with NATGRID
Posted Date : 07-Aug-2011 , 02:53:09 pm | Posted By CASANSAAR
The Income Tax department has decided to share it's PAN card database with the NATGRID -- a network aimed to initiate robust information sharing amongst law enforcement agencies to tackle terror threats at home and abroad.The department, after getting approval from the Central Board of Direct ...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1056
|
|
BSE Sensex: Stock crash erodes over Rs 1.3 lakh crore from investor wealth
Posted Date : 05-Aug-2011 , 10:11:59 pm | Posted By CASANSAAR
The investors were left poorer by over Rs 1.33 lakh crore after today's stock market crash, even as the market managed to recover nearly half of the losses suffered earlier during the day. The plunge in investors' wealth, which is notional in nature and is measured in terms of cumulative value of al...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 1034
|
|
11,69,238 Multiple Pan Cards Detected and Deleted
Posted Date : 05-Aug-2011 , 09:56:25 pm | Posted By CASANSAAR
No. of PAN CARD Holders:
As on 31.3.2009
8,09,21,993
As on 31.3.2010
9,59,26,877
As on 31.3.2011
12,10,45,706
No. of Returns filed during the financial year
FY 2008-09
3,38,69,567
FY 2009-10
3,27,36,625
...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 998
|
|
Be vigilant to check NPAs; don't choke credit: FM to banks
Posted Date : 05-Aug-2011 , 06:33:27 pm | Posted By CASANSAAR
Concerned over rising Non- performing Assets (NPAs) of public sector lenders, Finance Minister Pranab Mukherjee today said banks must tackle the problem seriously but without choking credit.
"NPAs in public sector banks have witnessed an upward trend. I had a meeting with chiefs of these ba...
Continue Reading...
Category :
Banking |
Comments :
0 | Hits : 1008
|
|
Government for reviewing DTA with Mauritius for better tax info
Posted Date : 05-Aug-2011 , 04:38:33 pm | Posted By CASANSAAR
The government is working to review the Double Taxation Avoidance Convention (DTAC) with Mauritius to further strengthen its provisions and have better exchange of information on tax matters with the island nation, which accounts for almost 36 per cent of FDI inflow to India. In a written reply to t...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 725
|
|
CWG scam: CAG report to be tabled in parliament
Posted Date : 05-Aug-2011 , 11:51:12 am | Posted By CASANSAAR
The Comptroller and Auditor General's (CAG) report on irregularities in the October 2010 Commonwealth Games will be tabled in parliament on Friday, according to the business listed for the two houses. The report, which has already caused much uproar after being leaked to the media, is expected ...
Continue Reading...
Category :
CAG |
Comments :
0 | Hits : 944
|
|
|
