Govt allows duty-free import of veg, fruits from Dhaka
Posted Date : 17-Jul-2011 , 01:21:05 pm | Posted By CASANSAAR
Ahead of Prime Minister Manmohan Singh's visit to Bangladesh, India, in a goodwill gesture, has allowed zero duty import of vegetables, spices and garments from the neighbouring country, with immediate effect.
However, Bangladesh exporters would enjoy the duty concession only if they dispatch the...
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Custom |
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Rs 600 cr tax evasion in Jammu and Kashmir
Posted Date : 16-Jul-2011 , 03:55:08 pm | Posted By CASANSAAR
RTI group Sangrash on Saturday filed a writ petition in the state High Court over the the RTI on the Rs 600 crore tax evasion in Jammu and Kashmir.
The petition has been treated as a Public Interest Litigation (PIL) and a division bench will hear the case on July 20.
An RTI query which was revea...
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Income Tax |
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FinMin hopes tax treaty talks with Mauritius to resume before Sept
Posted Date : 16-Jul-2011 , 02:21:21 pm | Posted By CASANSAAR
The finance ministry hopes talks with Mauritius on the Double Tax Avoidance Agreement (DTAA) would restart before September.
“There may be some talks before September, I should say,” said Central Board of Direct Taxes (CBDT) Chairman Prakash Chandra on the sidelines of a funct...
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Income Tax |
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Income tax staff crunch may help you escape scrutiny
Posted Date : 16-Jul-2011 , 02:18:56 pm | Posted By CASANSAAR
High-income earners need not sweat over the income tax official . going through their returns with a magnifying lens. There is nearly a 50% chance of their returns escaping a scrutiny because of a critical shortage of midlevel officers in the income tax department. Nearly half the posts of assi...
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Income Tax |
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Despite fuel duty cuts, indirect tax target to be met' by streamlining administration to plug loopholes in tax collections
Posted Date : 16-Jul-2011 , 11:26:57 am | Posted By CASANSAAR
Unfazed over a dent of Rs 37,000 crore due to duty cuts on fuels, the indirect tax division of the finance ministry is quite confident that it will be able to meet the target for Rs 3.97 lakh crore this financial year by toning up administration to identify service tax evaders.
“Dut...
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Category :
Excise |
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Mumbai blasts: Indian Mujahideen duo in focus, fears grow of bigger strike in Gujarat
Posted Date : 16-Jul-2011 , 11:20:40 am | Posted By CASANSAAR
Two leading Indian Mujahideen (IM) activists Mujeeb Sheikh and Abu Faisal, who were recently arrested in Madhya Pradesh, have become the focal point of the investigation into the 13/7 blasts. Wanted in connection with the terror attack on Ahmedabad in July 2008, they are considered dangerous a...
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General |
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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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Income Tax |
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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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SEBI |
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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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Income Tax |
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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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Income Tax |
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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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Excise |
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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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General |
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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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International Business |
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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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Students Zone |
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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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SEBI |
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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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General |
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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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Finance |
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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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Income Tax |
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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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Income Tax |
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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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Accounts |
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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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Income Tax |
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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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RBI |
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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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General |
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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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Income Tax |
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0 | Hits : 1963
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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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Banking |
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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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Income Tax |
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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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VAT |
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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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Banking |
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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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General |
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0 | Hits : 1715
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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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General |
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