Taxpayers can now file returns through mobile phones
Posted Date : 25-Jun-2011 , 07:52:11 am | Posted By CASANSAAR
Online income tax return filing company TaxSpanner today announced launch of mobile version of its solution that would enable users to file income tax returns (ITR) from their handset.
"After introducing the eFile by eMail option where customers need to just send us an email with a few deta...
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Income Tax |
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RBI warns banks on real estate valuation frauds
Posted Date : 25-Jun-2011 , 07:41:41 am | Posted By CASANSAAR
Alarmed by inflated valuations of real estate properties for the purpose of loans, the Reserve Bank of India (RBI) has asked all banks to submit an action-taken report on the issue.
The matter was raised last week by RBI Governor D Subbarao during a meeting of the Board for Financial Superv...
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RBI |
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0 | Hits : 813
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Core debt funds allowed to take shape of MF, NBFC
Posted Date : 25-Jun-2011 , 07:35:57 am | Posted By CASANSAAR
The government has set the ball rolling on the proposed infrastructure debt funds to leverage foreign resources for a sector that needs over a trillion dollars in the Twelfth Five-Year Plan. The finance ministry on Friday put in place the framework and structure for infrastructure debt funds (IDFs),...
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Finance |
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0 | Hits : 884
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India amends tax treaty with Singapore
Posted Date : 25-Jun-2011 , 07:33:47 am | Posted By CASANSAAR
India and Singapore on Friday amended their Double Taxation Avoidance Agreement (DTAA) to enable more effective mutual exchange of banking and tax related information.
Under the DTAA amendment protocol, which was signed here by Central Board of Direct Taxes (CBDT) Chairman Prakash Chandra a...
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Income Tax |
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1 | Hits : 797
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XBRL set to bring in more transparency
Posted Date : 25-Jun-2011 , 07:31:27 am | Posted By CASANSAAR
The implementation of XBRL (eXtensible Business Reporting Language) which has been made mandatory from April 1, 2011, is expected to bring in more transparency in how companies declare their financials.
K Raghu, Central Council Member, ICAI, and Director, XBRL India, said, “In the com...
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Corporate Law |
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0 | Hits : 1244
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MCX to seek Rs 300-400 cr damages from NSE
Posted Date : 25-Jun-2011 , 07:24:46 am | Posted By CASANSAAR
A day after the Competition Commission of India (CCI) imposed a penalty of Rs 55.5 crore on the National Stock Exchange after finding the bourse guilty of abusing its dominant market position, its rival MCX Stock Exchange on Friday said it’s planning to make a claim for costs and damages suffe...
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General |
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0 | Hits : 749
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Bharti Airtel to merge mobile, DTH & telemedia businesses; 2,000 jobs may be lost
Posted Date : 25-Jun-2011 , 02:07:05 am | Posted By CASANSAAR
Bharti Airtel has embarked on a restructuring exercise that will merge three separate businesses, triggering a large-scale job cull for the first time in the services sector since the 2008 economic slowdown.
Under this exercise, Bharti Airtel plans to merge its mobile, satellite TV ...
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General |
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0 | Hits : 1130
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Diesel gets dearer by Rs 3/lt, LPG by Rs 50/cylinder
Posted Date : 24-Jun-2011 , 10:13:38 am | Posted By CASANSAAR
The Empowered Group of Ministers on fuel headed by Finance Minister Pranab Mukherjee has decided to up diesel prices by Rs 3 per litre, confirmed oil minister Jaipal Reddy. While addressing the press post the EGoM meet, he said kerosene prices have been hiked by Rs 2 per litre while LPG rates have b...
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Finance |
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Private PF trusts may have to hand over responsibility for investing funds to the EPFO
Posted Date : 24-Jun-2011 , 10:11:40 am | Posted By CASANSAAR
Companies managing provident fund accumulations of their employees in-house may soon have to hand over the entire corpus to employees' provident fund organisation, or EPFO, as government looks for ways to ensure retirement saving of workers are protected.
The Central Board of Trustees...
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General |
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0 | Hits : 1066
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Exempt professionals from social security tax: India to US
Posted Date : 24-Jun-2011 , 10:02:50 am | Posted By CASANSAAR
India today asked the US to move ahead with an agreement which would exempt professionals from payment of security taxes to mitigate the impact of a visa fee hike last year.
Both the sides are negotiating Bilateral Totalisation Agreement (BTA), which once signed, would benefit lakhs o...
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General |
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0 | Hits : 753
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India to overtake US as world's second largest trading nation: Citibank
Posted Date : 24-Jun-2011 , 10:01:10 am | Posted By CASANSAAR
In less than 40 years India will overtake the US as the world's second-largest trading nation , pushing today's superpower into third place and Europe in to the little leagues, according to a new report by Citigroup .
"According to our projections, world trade in goods and services wi...
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General |
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0 | Hits : 785
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Govt to evolve market friendly stamp duty structure
Posted Date : 24-Jun-2011 , 08:15:54 am | Posted By CASANSAAR
The government is working on a uniform stamp duty structure for transactions in the capital on commodity markets. Finance ministry sources said in New Delhi that Department of Economic Affairs and Department of Revenue are in consultation to evolve a market friendly stamp duty structure.
Th...
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General |
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0 | Hits : 765
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Salaried persons with less than Rs 5 lakh taxable income need not file returns
Posted Date : 24-Jun-2011 , 08:04:43 am | Posted By CASANSAAR
Salaried individuals with taxable income of less than Rs 5 lakh will not have to file income-tax returns in the current assessment year. The finance ministry notified the scheme on Thursday, spelling out the conditions for the exemption announced in the Budget for 2011-12. Individuals with total tax...
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Income Tax |
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0 | Hits : 1288
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Cost Inflation Index for Financial Year 2011-12 / Assessment year 2012-13
Posted Date : 24-Jun-2011 , 08:03:08 am | Posted By CASANSAAR
CBDT has vide Notification No. 35/2011 dated declared cost inflation Index for the financial year 2011-12. Cost inflation index for the financial year 2011-12 (Assessment year 2012-13) is 785. Full text of the Notification is as follows:-
COST INFLATION INDEX FOR FINANCIAL YEAR 2011-12
NOTIFIC...
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Income Tax |
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0 | Hits : 2216
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Exclusion of certain topics in the CA Final Examination to be held in November, 2011 and thereafter
Posted Date : 24-Jun-2011 , 07:49:01 am | Posted By CASANSAAR
IMPORTANT ANNOUNCEMENT
BoS/Announcement/227/11
June 23, 2011
Sub: Exclusion of certain topics in the CA Final Examination to be held in November, 2011 and thereafter
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On a review of the syllabus for the Final Course, the Council has decided to exclude the ...
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Students Zone |
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Period of Validation of Registration in Chartered Accountancy Course
Posted Date : 24-Jun-2011 , 07:45:47 am | Posted By CASANSAAR
Important Announcement for Chartered Accountancy Course Students
BoS/Announcement/227/11
June 23, 2011
Sub: Period of Validation of Registration in Chartered Accountancy Course
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In order to streamline the period of validity of registration for Common...
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Income Tax |
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0 | Hits : 1646
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Extension of date for registration for Integrated Professional
Posted Date : 24-Jun-2011 , 07:35:21 am | Posted By CASANSAAR
IMPORTANT ANNOUNCEMENT
BoS/Announcement/227/11
June 23, 2011
Sub: Extension of date for registration for Integrated Professional Competence Course (IPCC)
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In order to mitigate the hardship being faced by the students in registering for Integrated Professional Compete...
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Students Zone |
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0 | Hits : 863
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India Inc raises $2 bn in April through ECBs, FCCBs
Posted Date : 23-Jun-2011 , 09:51:34 am | Posted By CASANSAAR
India Inc raised over $ 2.06 billion from overseas markets in April through external commercial borrowings (ECBs) and foreign currency convertible bonds (FCCBs), the Reserve Bank said. Around 55 companies raised over $ 1.54 billion for various projects through the automatic route, which does not req...
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Finance |
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0 | Hits : 873
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Sebi to Sahara: Refund money raised via OFCDs with 15% interest
Posted Date : 23-Jun-2011 , 09:45:27 am | Posted By CASANSAAR
Market regulator SEBI on Thursday asked two Sahara group entities to return money collected from millions of investors through an instrument named Optionally Fully Convertible Debentures (OFCD), citing violation of regulatory norms.
As per a Sebi order, S...
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SEBI |
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Tax evasion: Govt authorises IT Department to initiate legal action
Posted Date : 23-Jun-2011 , 08:16:23 am | Posted By CASANSAAR
The Government has authorised the Income Tax Department to initiate legal action in tax evasion cases where Indian investments are located in foreign countries. Official sources said in New Delhi that the Central Board of Direct Taxes has issued an order that the Income Tax department does not need ...
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Income Tax |
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0 | Hits : 1058
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No excise duty on school uniforms, towels: CBEC
Posted Date : 23-Jun-2011 , 08:15:42 am | Posted By CASANSAAR
In a relief to the garment industry, the government today said no excise duty will be imposed on uniforms and items like towels if they merely bear logo of the institution or company they are made for.
".Such products would not merit treatment as branded products merely because the name of the sc...
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Income Tax |
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0 | Hits : 1308
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Unitech gets CEI notice for defaulting on service tax
Posted Date : 23-Jun-2011 , 07:22:09 am | Posted By CASANSAAR
The Central Excise Intelligence (CEI) has issued a notice to a leading real estate company, Unitech Limited, for not paying service tax of over Rs 43 crore to the government, for several road maintenance projects.
The notice, demanding the service tax, was sent to the South City office of Unitech ...
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Service Tax |
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0 | Hits : 830
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Income Tax inquiry against former Chief Justice Balakrishnan
Posted Date : 23-Jun-2011 , 07:18:51 am | Posted By CASANSAAR
The Home Ministry has asked the revenue department for a report on allegations that former Chief Justice of India K G Balakrishnan acquired assets disproportionate to his known sources of income during his tenure as a Supreme Court judge and CJI.
Sources said the move to ask...
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Income Tax |
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0 | Hits : 800
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I-T dept to start prompt action against tax evaders
Posted Date : 23-Jun-2011 , 07:14:54 am | Posted By CASANSAAR
Taking a step forward against black money, the Finance Ministry has asked the Income Tax Department to launch immediate prosecution action in tax evasion cases wherein tangible assets and investments are located in foreign shores.
The department has been asked to do away with the norm of ta...
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Income Tax |
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0 | Hits : 709
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CBDT Press Release on exemption from filing I-T return for persons with income up to Rs 5 lakh
Posted Date : 23-Jun-2011 , 05:54:31 am | Posted By CASANSAAR
The Central Board of Direct Taxes has notified the scheme exempting salaried taxpayers with total income up to Rs.5 lakh from filing income tax return for assessment year 2011-12, which will be due on July 31, 2011.
Individuals having total income up to Rs.5,00,000 for FY 2010-11, aft...
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Income Tax |
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0 | Hits : 2649
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EPFO may offer 9.5% interest on PF this year too
Posted Date : 23-Jun-2011 , 04:34:49 am | Posted By CASANSAAR
There is more good news for provident fund subscribers after the higher 9.5% interest they got on their accumulations in the current year. The Employees' Provident Fund Organisation, or EPFO, says the surplus in the interest suspense account is more than the Rs 1,732 crore estimated initially...
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General |
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0 | Hits : 866
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How to verify correctness of TDS Certificate (Form 16A) issued by the deductor
Posted Date : 22-Jun-2011 , 09:02:45 am | Posted By CASANSAAR
NSDL has recently started a online facility by which deductee can verify the correctness of TDS Certificate (Form 16A) issued by the deductor. To know the correctness deductee must have the following details or should have a copy of TDS certificate issued by the deductor as information from th...
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Income Tax |
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7 | Hits : 5545
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Govt resumes talks on tax treaty: FM
Posted Date : 22-Jun-2011 , 08:57:10 am | Posted By CASANSAAR
A day after the stocks fell over 300 points, the government on Tuesday said it has resumed talks with Mauritius for re-negotiation of the 30-year-old Double Taxation Avoidance Agreement (DTAA).
"As far as DTAA with Mauritius is concerned, it is nothing new. It is an old one. For some time ta...
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Income Tax |
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0 | Hits : 748
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GST regime unlikely; states oppose draft bill
Posted Date : 22-Jun-2011 , 08:52:51 am | Posted By CASANSAAR
Introduction of indirect tax reforms through the common goods and services tax, or GST, from the next fiscal appears uncertain with fresh opposition pouring in from BJP-ruled states who claim that it would reduce their status to that of municipalities and corporations. "The kind of draft that they (...
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Income Tax |
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0 | Hits : 814
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Employers to have compulsory insurance for foreign workers
Posted Date : 22-Jun-2011 , 08:50:21 am | Posted By CASANSAAR
All South Korean companies hiring foreign manual workers will be required from later this year to subscribe to the departure-expiration insurance to pay their retirement benefits, the labor ministry said today.
Owners of smaller firms hiring at least five foreigners with E-9 or H-2 visas ar...
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General |
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0 | Hits : 753
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