Draft norms on new banking licences soon: RBI official
Posted Date : 10-May-2011 , 11:49:46 am | Posted By CASANSAAR
Reserve Bank of India (RBI) would shortly come out with draft norms on new banking licences, a senior RBI official said."RBI will shortly come out with draft guidelines on new banking licenses", B Mahapatra, CGM in-charge of Department of Banking Operations and Development, RBI, said.Last year...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 382
|
 |
RBI penalises two cooperative banks
Posted Date : 10-May-2011 , 11:48:52 am | Posted By CASANSAAR
The Reserve Bank has imposed a monetary penalty of Rs 1 lakh each on two cooperative lenders -- Randheja Commercial Cooperative Bank and Gandevi People's Cooperative Bank -- for violation of banking norms.The Gandhinagar-based Randheja Commercial Co-operative Bank has been penalised for violat...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 432
|
|
Sahara Group firm should provide details on OFCD scheme: SC
Posted Date : 09-May-2011 , 09:08:44 pm | Posted By CASANSAAR
The Supreme Court directed Sahara India Real Estate to furnish the format of the application for an OFCD scheme and a list of accredited agents raising money on its behalf after the firm claimed it was not liable if investors provided false address and other details.
A three-judge benc...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 359
|
|
Mukesh Ambani forgoes Rs 23.75 crore from salary
Posted Date : 09-May-2011 , 08:36:44 am | Posted By CASANSAAR
Billionaire industrialist Mukesh Ambani has decided to forego Rs 23.75 crore for the last fiscal from his annual compensation as chief of Reliance Industries while keeping his salary capped at Rs 15 crore for third year in a row. At the same time, the company's total remuneration for top managem...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 469
|
|
Supreme Court stays verdict on Ayodhya title suit
Posted Date : 09-May-2011 , 04:30:21 am | Posted By CASANSAAR
Calling it a strange and surprising order, the Supreme Court on Monday stayed the Allahabad High Court's verdict on the Babri Masjid-Ramjanmbhoomi disputed site by which it had directed the site be divided equally between the three contending parties. Assailing the judgment of the Lucknow bench ...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 379
|
|
Waiver from filing I-T returns to benefit 85 lakh tax payers
Posted Date : 08-May-2011 , 11:06:29 am | Posted By CASANSAAR
As many as 85 lakh tax payers will benefit from the government''s decision to exempt persons earning less than Rs 5 lakh a year from filing I-T returns, a finance ministry official said.
"The decision, which will come into effect from June 1, 2011, will reduce the compliance burden about 85 lakh sm...
Continue Reading...
Category :
Income Tax |
Comments :
8 | Hits : 1508
|
|
SC to hear Sahara plea against giving investor details to Sebi
Posted Date : 08-May-2011 , 11:02:26 am | Posted By CASANSAAR
The Supreme Court will tomorrow hear Sahara Group's petition against the orders of the Allahabad High Court, which directed the company to share with market regulator Sebi details of investors participating in its fund raising exercise.The matter will be heard by a 3-judge bench, headed by Chi...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 304
|
|
RBI may make it mandatory for foreign banks to adopt WOS route
Posted Date : 08-May-2011 , 10:59:01 am | Posted By CASANSAAR
The Reserve Bank is likely to make it mandatory for foreign banks in the country to operate as wholly-owned subsidiaries, in line with the international practice, so that the central bank can have better control over their working.Initially, according to sources, the new banks and the existing ones ...
Continue Reading...
Category :
RBI |
Comments :
0 | Hits : 321
|
|
SC to hear petition on NSDL role in the IPO scam
Posted Date : 08-May-2011 , 10:58:14 am | Posted By CASANSAAR
The Supreme Court will tomorrow hear a petition seeking directions to market regulator Sebi to take action on the report of a high-powered committee, which had probed the IPO scam of 2006 and NSDL's role in it.The matter would be heard by a bench comprising justices RV Raveendran and AK Patnaik.Sebi...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 309
|
|
Cos to give details of CSR initiatives to shareholders
Posted Date : 08-May-2011 , 10:57:07 am | Posted By CASANSAAR
The new company law will make it mandatory for companies to disclose details of social sector initiatives, called CSR, in addition to money spent, to shareholders in their annual reports.Not just how much, but companies will also have to disclose to their shareholders where they have spent the...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 356
|
|
UCO Bank moves HC against IT order levying fine on it
Posted Date : 08-May-2011 , 10:54:46 am | Posted By CASANSAAR
The United Commercial Bank has moved the Delhi High Court challenging an Income Tax notice that slapped a penalty of over Rs 54 lakh on its branch for not making tax deduction at source on a fixed deposit account worth Rs 7.7 crore opened by the HC.A bench of Chief Justice Dipak Misra and Justice Sa...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 273
|
|
Happy Mother's Day
Posted Date : 07-May-2011 , 11:04:16 pm | Posted By CASANSAAR
When you feel you are alone in the crowd,When you think No.1 can understand you,When your love is rejected by others,& when you hate your Life,Just close your eyes, & see, her face who loves you...more than any 1 else,who care for you in loneliness,& dies when you cry.She is no 1...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 262
|
|
I-T issues Rs 25,000 cr refunds; to issue more
Posted Date : 06-May-2011 , 09:26:56 pm | Posted By CASANSAAR
The Income Tax department has issued 40 lakh refunds worth Rs 25,000 crore in the current financial year to taxpayers and orders have been issued to generate the remaining few lakhs soon. Central Board of Direct Taxes (CBDT) Chairman Sudhir Chandra gave the figures while addressing the top brass and...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 286
|
|
Public debate on negative list for tax on services initiated
Posted Date : 06-May-2011 , 09:25:48 pm | Posted By CASANSAAR
The Finance Ministry on Friday sought to initiate a public debate on the issue of evolving a small negative list for tax on services, as was announced by Finance Minister Pranab Mukherjee in the course of his speech while presenting the budget for the current fiscal.
The net impact of a neg...
Continue Reading...
Category :
Service Tax |
Comments :
0 | Hits : 711
|
|
CCBCAF & SMP initiative for prescribing the Minimum Recommended Scale of Fees for the Professional Assignments done by the Chartered Accountants
Posted Date : 06-May-2011 , 11:25:34 am | Posted By CASANSAAR
The Committee for Capacity Building of CA Firms and Small & Medium Practitioners, ICAI (CCBCAF & SMP) has taken a major initiative for prescribing the Minimum Recommended Scale of Fees for the professional assignments done by our members of ICAI. The recommendation is about the fee to be cha...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 934
|
|
DMK MP Kanimozhi's bail plea adjourned
Posted Date : 06-May-2011 , 07:50:34 am | Posted By CASANSAAR
Tension gripped the DMK camp today as a Delhi court adjourned the hearing on bail plea of Chief Minister M Karunanidhi's daughter Kanimozhi, named co-conspirator in the chargesheet in 2G scam case, with the top leadership remaining huddled throughout the day.Responding to its summons, Kanimozhi,...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 326
|
|
ED seeks contempt proceedings against Sahara chief
Posted Date : 06-May-2011 , 07:49:01 am | Posted By CASANSAAR
The Enforcement Directorate on Friday moved the Indian apex court seeking initiation of contempt of court proceedings against multi-business conglomerate Sahara group CMD Subrato Roy for allegedly interfering into the investigation of the 2G spectrum scam.The petition filed by the ED investigatin...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 287
|
|
Black money case: ED charge sheets Hasan Ali, Tapuriah for money laundering
Posted Date : 06-May-2011 , 07:44:31 am | Posted By CASANSAAR
The Enforcement Directorate today chargesheeted Pune-based stud farm owner Hasan Ali Khan and his associate Kashinath Tapuriah in a case of alleged money laundering.
Khan (53), is alleged to have stashed huge amount of black money abroad including over USD 8 billion in the Union Bank of Switzerl...
Continue Reading...
Category :
FEMA |
Comments :
0 | Hits : 410
|
|
Cancelled HINDI MEDIUM Paper-3 of PCE and Paper-2 of IPCE of CA Examination-May 2011 held on 05 May 2011.The said exam will now be held on 17th May
Posted Date : 06-May-2011 , 04:14:23 am | Posted By CASANSAAR
5th May, 2011
IMPORTANT ANNOUNCEMENT CANCELLATION OF EXAMINATION OF GROUP-I, PAPER-3, LAW, ETHICS AND COMMUNICATION OF PROFESSIONAL COMPETENCE EXAMINATION AND GROUP-I, PAPER - 2, BUSINESS LAWS, ETHICS AND COMMUNICATIONS OF INTEGRATED PROFESSIONAL COMPETENCE EXAMINATION HELD ON 5TH MAY - 2011 IN ...
Continue Reading...
Category :
Students Zone |
Comments :
0 | Hits : 429
|
|
Transfer of shares without consideration doesn't attract capital gains tax: Authority for Advance Rulings
Posted Date : 05-May-2011 , 09:01:33 pm | Posted By CASANSAAR
Transfer of shares for the purpose of business reorganisation, if done without consideration, does not attract capital gains tax, according to a ruling by the Authority for Advance Rulings (AAR) in the case of US-based Goodyear Tire and Rubber Company .
In the ruling given on May 2, AAR, a quasi-j...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 1258
|
|
CBI arrests Chief Parliamentary Secretary, Punjab and an official of Registrar, Firms & Societies, Punjab in a bribery case
Posted Date : 05-May-2011 , 08:52:17 pm | Posted By CASANSAAR
CBI has registered a case U/S 8 of Prevention of Corruption Act against an official of Registrar, Firms & Societies, Punjab on the basis of a complaint received from Secretary of an Association alleging demand of bribe of Rs.1.5 crore by the official, of Registrar, Firms & Societies, Punjab,...
Continue Reading...
Category :
General |
Comments :
0 | Hits : 809
|
|
'Gift of property by a Muslim need not be registered'
Posted Date : 05-May-2011 , 08:47:52 pm | Posted By CASANSAAR
A gift of immovable property made by a Muslim is valid even if it is not registered under the Transfer of Property Act or the Stamps and Registration Act, the Supreme Court today ruled.The apex court said though the TP Act mandates registration of a gift, the same would not apply to a Muslim d...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 386
|
|
I-T tracks frequent flyers to tax havens on Rs 1L income
Posted Date : 05-May-2011 , 08:41:02 pm | Posted By CASANSAAR
Tax sleuths tracking frequent flyers to international tax havens have found that some of these individuals have a declared annual income of as little as Rs 1 lakh and, in a few cases, no income at all!
This startling discovery was made after the Directorate of Income Tax Intelligence started scruti...
Continue Reading...
Category :
Income Tax |
Comments :
1 | Hits : 505
|
|
SC dissatisfied over IT probe into 2G scam
Posted Date : 05-May-2011 , 11:22:38 am | Posted By CASANSAAR
The tardy probe against corporate lobbyist Niira Radia and others for alleged tax evasion connected with 2G spectrum scam came in for sharp criticism from the Supreme Court which directed Income Tax department to be quicker and not to treat these cases in an "ordinary way."
The court said i...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 351
|
|
Cancellation of HINDI MEDIUM Paper-3 of PCE and Paper-2 of IPCE of Chartered Accountants Examination-May 2011 scheduled to be held on 05 May 2011
Posted Date : 05-May-2011 , 11:17:38 am | Posted By CASANSAAR
Due to unavoidable reasons the examination of Paper –3- Law, Ethics and Communication of Professional Competence Examination and Paper -2- Business Laws, Ethics and Communications of integrated Professional Competence Examination which were scheduled to be held on 5th May 2011 (Thurs...
Continue Reading...
Category :
Students Zone |
Comments :
2 | Hits : 379
|
|
Sebi to outsource investor helpline to 3rd-party call centre
Posted Date : 05-May-2011 , 11:14:20 am | Posted By CASANSAAR
Market regulator Sebi has decided to outsource its investor helpline service to a third-party call centre, where at least 500 agents would be required to attend to investors' calls on issues like IPOs and trading.The decision to outsource its investor helpline comes within weeks of Sebi deciding to ...
Continue Reading...
Category :
SEBI |
Comments :
0 | Hits : 298
|
|
Individual taxpayers need not declare high-value transactions
Posted Date : 04-May-2011 , 09:16:21 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has given a breather to individual tax payers from declaring high-value transactions with banks, mutual funds, credit cards, etc via the income tax return forms. The newly notified income tax return forms for the Assessment Year 2011-12 - including Sahaj, Sug...
Continue Reading...
Category :
Income Tax |
Comments :
1 | Hits : 982
|
|
I-T finds tax evasion in 2G scam; status report in SC tomorrow
Posted Date : 04-May-2011 , 09:13:00 am | Posted By CASANSAAR
The Income Tax department has found instances of alleged tax evasion and “multiple routing” of undeclared wealth in the 2G spectrum allocation scam and will file its first status report on the probe in the case in the Supreme Court tomorrow.
The department, according to official...
Continue Reading...
Category :
Income Tax |
Comments :
0 | Hits : 331
|
|
Govt mulling Rs 3/ltr diesel rate hike after Assembly polls
Posted Date : 04-May-2011 , 09:08:52 am | Posted By CASANSAAR
The government plans to hike diesel prices by up to Rs 3 a litre soon after the Assembly elections in five states are over next week, while an equivalent steep increase in petrol rates is also on card."An Empowered Group of Ministers (EGoM) headed by Finance Minister Pranab Mukherjee is scheduled to...
Continue Reading...
Category :
General |
Comments :
1 | Hits : 318
|
|
Govt clears 21 FDI proposals
Posted Date : 03-May-2011 , 09:19:06 pm | Posted By CASANSAAR
The government has cleared 21 foreign direct investment, proposals worth 1,027 crore rupees. According to a Finance Ministry's statement a total of 47 FDI proposals were taken up by the Foreign Investment Promotion Board, in a meeting held on 20th of last month. The Board deferred decisions on 17 ap...
Continue Reading...
Category :
FEMA |
Comments :
0 | Hits : 513
|
|
|
