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President prods govt to hasten anti-black money drive
Posted Date : 16-Jul-2011 , 07:44:25 am | Posted By CASANSAAR

President Pratibha Patil on Friday asked the government to expedite its crusade against black money both within and outside the country. Speaking at a celebration here to commemorate 150 years of the Income Tax, the President said government should give thrust to better global cooperation that can ...

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Category : Income Tax | Comments : 0 | Hits : 740

Rs 50,000-cr scam alleged in Sebi
Posted Date : 16-Jul-2011 , 07:40:40 am | Posted By CASANSAAR

The Delhi high court on Friday issued notices to Securities and Exchange Board of India (SEBI) and the Centre on a petition alleging a R50,000-crore scam in Sebi's penalty adjudication process since 2002. The plea said the discretionary process of levying penalties, which was done away with after th...

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Category : SEBI | Comments : 0 | Hits : 1132

Govt plans to equip IT department with latest technology: Pranab
Posted Date : 16-Jul-2011 , 07:37:27 am | Posted By CASANSAAR

With its focus being on e-governance, the Income Tax Department is planning to equip itself with the latest technology for the benefit of tax payers.   “The Department has focused on e-governance initiatives to meet the challenges of the rapidly changing economic environment and the exp...

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Category : Income Tax | Comments : 0 | Hits : 802

BSE cancelled 1,350 trades
Posted Date : 16-Jul-2011 , 07:21:09 am | Posted By CASANSAAR

BSE on Friday cancelled about 1,350 trades done during the pre-open session in which several of the frontline stocks witnessed wild fluctuations. The exchange said that there was a technical glitch in the trading system on Friday morning that led to such major price swings. Dealers said that stocks...

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Category : Income Tax | Comments : 0 | Hits : 765

Bombay HC rules that PSUs are entitled for pre-exemptions in certain taxes
Posted Date : 15-Jul-2011 , 07:16:14 pm | Posted By CASANSAAR

In a judgment which could impact most public sector companies, the Bombay High Court has ruled that public sector undertakings are entitled for pre-exemptions in certain taxes, as they come under special provisions. The court also said that as the companies are state-owned, they are capable o...

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Category : Excise | Comments : 0 | Hits : 1058

Tata Group to launch Rs.32,000-house
Posted Date : 15-Jul-2011 , 06:29:56 pm | Posted By CASANSAAR

After its Rs. 1 lakh car ‘Nano’, the Tata Group is all set to launch a house for nearly Rs. 32,000 aimed at rural market by the end of next year.   “At present, the housing project is in the pilot stage in 30 locations spread across the country and we are in discussions...

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Category : General | Comments : 0 | Hits : 1247

Services exports up 3.2% in May, imports rise 2.8%
Posted Date : 15-Jul-2011 , 04:47:39 pm | Posted By CASANSAAR

India's services exports stood at $11.83 billion in May, 2011, up almost 3.2% in comparison to April.   The country's total receipts from services exported stood at $11.46 billion in April, 2011, the Reserve Bank said in a statement.   Imports of services were also up 2.8% in May at ...

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Category : International Business | Comments : 0 | Hits : 825

Extension of Common Proficiency Course (CPC) Registration Date upto 5th October, 2011.
Posted Date : 15-Jul-2011 , 04:30:21 pm | Posted By CASANSAAR

Extension of Common Proficiency Course (CPC) registration date upto 5th October, 2011 In view of the closure of banks on account of half yearly closing on 30th September, 2011, the last date for registration for Common Proficiency Course (CPC) shall be 5th October, 2011 for being eligible to app...

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Category : Students Zone | Comments : 0 | Hits : 892

SC directs Sahara to approach SAT against Sebi order on OFCDs
Posted Date : 15-Jul-2011 , 01:44:13 pm | Posted By CASANSAAR

The Supreme Court today directed Sahara Group firm Sahara India Real Estate Corp to approach the Securities Appellate Tribunal against market regulator Sebi's order directing the return of money collected from investors for an OFCD scheme within a period of three weeks.   A three-member ben...

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Category : SEBI | Comments : 0 | Hits : 919

EPFO appoints four fund managers to manage its corpus
Posted Date : 15-Jul-2011 , 07:57:33 am | Posted By CASANSAAR

The Employees Provident Fund Organisation, EPFO on Thursday appointed four fund managers to manage its corpus for three years beginning from the 1st of September, 2011. Briefing media persons in New Delhi after the 195th meeting of the Central Board of Trustees, CBT the Union Minister of Labour and...

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Category : General | Comments : 1 | Hits : 842

Government Together With RBI to Take all Appropriate Steps to Reduce Inflation to a Comfortable Level: FM
Posted Date : 15-Jul-2011 , 07:55:40 am | Posted By CASANSAAR

Union Finance Minister Shri Pranab Mukherjee said that inflation figures reported for the month of June 2011 continues to be matter of concern. The Finance Minister said that we are monitoring the price situation closely. He said that Government is working together with RBI to take appropriate steps...

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Category : Finance | Comments : 0 | Hits : 756

House panel pulls up I-T for IPL mess, seeks action on BCCI
Posted Date : 15-Jul-2011 , 07:53:10 am | Posted By CASANSAAR

The Income Tax (I-T) department received flak from parliamentarians on Thursday for being “lax” and “lenient on BCCI” for the Indian Premier League (IPL) mess. The parliamentary standing committee on finance on Thursday finalised its report where it has sought a thorough prob...

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Category : Income Tax | Comments : 0 | Hits : 759

Hero pays Rs 811 crore tax on Honda stake buyout: CBDT
Posted Date : 15-Jul-2011 , 07:50:08 am | Posted By CASANSAAR

The BM Munjal-promoted Hero Group has paid Rs 811 crore as capital gains tax for buying out erstwhile partner Honda from their joint venture, Hero Honda, Central Board of Direct Taxes (CBDT) on Thursday said. "Hero has paid the entire tax amount of Rs 811 crore in two tranches, Rs 100 crore in March...

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Category : Income Tax | Comments : 0 | Hits : 826

Tata Consultancy Services Q1 net profit up 28% at Rs 2,380 crore
Posted Date : 15-Jul-2011 , 07:48:21 am | Posted By CASANSAAR

 Tata Consultancy Services (TCS), India's largest software services exporter, posted a better-than-expected rise in quarterly profit driven by increased spending by clients, and said the uncertain global economy was unlikely to hurt demand. TCS, a unit of the salt-to-steel conglomerate Tata Gro...

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Category : Accounts | Comments : 0 | Hits : 1081

Swiss financial system pays Rs 1-lakh cr tax a year
Posted Date : 14-Jul-2011 , 04:46:51 pm | Posted By CASANSAAR

They are accused of helping Indians and others evade tax and hide their black money, but the Swiss financial sector itself pays taxes totalling about Rs one lakh crore every year to its government.   In its latest report on "The Economic Significance of Swiss Financial Centre," the Swiss b...

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Category : Income Tax | Comments : 0 | Hits : 973

RBI wants all PSBs to have uniform pension provision
Posted Date : 14-Jul-2011 , 03:16:57 pm | Posted By CASANSAAR

After coming down heavily on banks for not making adequate provision for increased pension liabilities arising out of wage revision, the Reserve Bank of India (RBI) now wants all public sector banks to have uniform pension liabilities.   According to sources in the banking industry, the centr...

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Category : RBI | Comments : 0 | Hits : 907

Indian-origin girls get top honours at Google Science Fair
Posted Date : 14-Jul-2011 , 01:04:14 pm | Posted By CASANSAAR

BOSTON: Two Indian-origin girls have emerged winners at Google's inaugural Science Fair , impressing thousands at the internet giant's California headquarters with their projects on ways to improve ovarian cancer treatment and bettering air quality for the benefit of asthma patients. The top th...

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Category : General | Comments : 0 | Hits : 921

Now, pay only 15% tax on short-term gains
Posted Date : 14-Jul-2011 , 07:10:42 am | Posted By CASANSAAR

There is a dim ray of hope for scores of investors who were asked to pay a higher tax for selling shares within 30 days of purchase. The Income Tax Appellate Tribunal has ruled that profits from sale of shares held for even less than 30 days are eligible to be treated as "short term capital gains" o...

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Category : Income Tax | Comments : 0 | Hits : 1954

4 PSU banks raise interest rates by up to 50 bps
Posted Date : 14-Jul-2011 , 07:03:00 am | Posted By CASANSAAR

As many as three state-owned banks including Oriental Bank of Commerce (OBC) and Indian Bank hiked interest rates by up to 50 basis points. While Indian Bank and Allahabad Bank raised base rate, or minimum lending rate by 25 basis points, OBC and IDBI Bank raised deposit rates by up to 50 basis poin...

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Category : Banking | Comments : 0 | Hits : 1030

Terms of Reference of The Task Force on Direct Transfer of Subsidies Extended
Posted Date : 13-Jul-2011 , 09:46:20 pm | Posted By CASANSAAR

The Ministry of Finance has decided to extend the terms of reference of the Task force which was constituted under the Chairmanship of Shri Nandan Nilekani, Chairman, Unique Identification Authority of India (UIDAI) to recommend and implement a solution for direct transfer of subsidies on Kerosene, ...

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Category : Income Tax | Comments : 0 | Hits : 1046

VAT collection: Delhi govt to soon identify ''bogus traders''
Posted Date : 13-Jul-2011 , 09:44:57 pm | Posted By CASANSAAR

In an effort to improve VAT collection and identify "bogus traders", the Delhi government will soon carry out a comprehensive scrutiny of the traders registered with it. Commissioner of Trade and Taxes Rajender Kumar said the department would soon launch the scrutiny to detect the tax evaders and t...

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Category : VAT | Comments : 0 | Hits : 894

Cabinet likely to clear merger of SBICI with SBI tomorrow
Posted Date : 13-Jul-2011 , 09:42:14 pm | Posted By CASANSAAR

The government is likely to consider merger of State Bank of India Commercial and International Bank Ltd (SBICI) with the country's largest lender SBI at the meeting of Union Cabinet tomorrow. SBICI is a wholly owned subsidiary of SBI and functions as a private sector bank offering the an array of f...

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Category : Banking | Comments : 0 | Hits : 1174

3 bomb blasts in Mumbai
Posted Date : 13-Jul-2011 , 07:54:51 pm | Posted By CASANSAAR

Three bomb blasts were reported in Mumbai on Wednesday evening in the crowded Dadar, Opera House and Zaveri Bazar areas, police said.   The blasts, that went off within minutes of each other.   Police, ambulance, home guards and fire brigade were rushed to the spot. The incident happen...

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Category : General | Comments : 0 | Hits : 1713

Govt seeks access to Facebook, Twitter data
Posted Date : 13-Jul-2011 , 07:12:30 pm | Posted By CASANSAAR

The government on Wednesday made it clear that social networking sites must comply with the security agencies' requirement for a real-time monitoring of their user data to ensure that national security is not compromised. In the backdrop of a raging controversy over BlackBerry posing security conce...

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Category : General | Comments : 0 | Hits : 999

Corporate governance, new companies act top priorities: Moily
Posted Date : 13-Jul-2011 , 03:20:16 pm | Posted By CASANSAAR

Corporate Affairs Minister M. Veerappa Moily took charge of his new portfolio here early Wednesday and said the passage of a new bill to replace the 55-year-old Companies Act and issues of corporate governance were his top priorities. Moily also brushed aside suggestions that he was unhap...

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Category : Corporate Law | Comments : 0 | Hits : 890

Shiv Nadar-controlled HCL may buy out stake in DLF Pramerica Life Insurance Company
Posted Date : 13-Jul-2011 , 03:13:16 pm | Posted By CASANSAAR

The Shiv Nadar-controlled HCL Group is in advanced discussions with real estate major DLF to acquire a substantial stake in DLF Pramerica Life Insurance Company Limited , for around Rs.450 crore in a two-phase transaction. The acquisition will be done through a privately-held company and will r...

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Category : Merger & Acquisitions | Comments : 0 | Hits : 818

Result of CA Final (May 2011) & CPT (June 2011)
Posted Date : 13-Jul-2011 , 01:56:10 pm | Posted By CASANSAAR

The results of the Chartered Accountants Final Examination held in May, 2011 and Common Proficiency Test (CPT) held in June, 2011 are likely to be declared on Tuesday, the 19th July, 2011, around 2:00 PM for more detail visit http://220.227.161.86/23307res​ult130711.pdf ...

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Category : Income Tax | Comments : 0 | Hits : 1944

HDFC Bank launches Infinia, takes on American Express
Posted Date : 13-Jul-2011 , 11:30:06 am | Posted By CASANSAAR

A  favourite of many global chief executives and celebrities, the American Express card, or Amex card, now has a competitor in India.   HDFC Bank, the second-largest private sector bank in the country, on Tuesday launched 'Infinia' cards for the uber-rich, high net worth community in Ind...

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Category : Banking | Comments : 0 | Hits : 1354

India's biggest farm equipment maker Mahindra & Mahindra plans to venture into general insurance business
Posted Date : 13-Jul-2011 , 11:26:04 am | Posted By CASANSAAR

Mahindra & Mahindra Group , the biggest farm equipment makers in the country, is planning to tie-up with an experienced company to venture into the Rs. 40,000-crore general insurance business, which is growing at around 20% a year. The group, which has a lending business in Mahin...

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Category : General | Comments : 0 | Hits : 731

CBDT allows Mah Satyam to file revised returns for '03-07
Posted Date : 13-Jul-2011 , 07:28:19 am | Posted By CASANSAAR

The Central Board of Direct Taxes (CBDT) is believed to have turned down the request of Mahindra Satyam to fully adjust taxes paid by its erstwhile owner Ramalinga Raju on fictitious income.   Tech Mahindra had acquired Satyam Computer, after a multi-crore accounting fraud in the company came...

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Category : Income Tax | Comments : 0 | Hits : 1038

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