'MCA cannot investigate irregularities in Speak Asia'
Posted Date : 09-Jun-2011 , 11:47:07 am | Posted By CASANSAAR
The Ministry of Corporate Affairs today said it cannot investigate alleged irregularities in multi-level marketing company Speak Asia as the company is not registered with it."Speak Asia is not registered in India so we cannot do any investigation against it. MCA does not have any database of the co...
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Corporate Law |
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Online PF account details from July 1
Posted Date : 08-Jun-2011 , 09:27:03 pm | Posted By CASANSAAR
The Employees Provident Fund Organisation (EPFO) today said account details would be available online from July 1. "You can watch the account balance of your PF online from July 1," Assistant PF Commissioner Kanchan Roy said at an interactive session at Bengal National Chamber of Commerce and Indust...
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General |
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4 | Hits : 1306
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SEBI launches complaints redress system
Posted Date : 08-Jun-2011 , 08:51:10 pm | Posted By CASANSAAR
The Securities and Exchange Board of India (SEBI) launched a centralised web-based complaints redress system (SCORES) on Wednesday.
“This would enable investors to lodge and follow up their complaints and track the status of redressal of such complaints from anywhere. This would also ...
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SEBI |
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0 | Hits : 1544
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Ad agencies versus govt: War on service tax deadline
Posted Date : 08-Jun-2011 , 08:48:24 pm | Posted By CASANSAAR
The advertising industry has hit out against the government. An advertisement in major newspapers appealed against the new rule that compels agencies to pay service tax before payment is received, reports CNBC-TV18's Nikita Rana.
As per the rule, the deadline for ad companies to pay service...
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Service Tax |
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0 | Hits : 906
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Finance Ministry sets up another panel on black money
Posted Date : 08-Jun-2011 , 11:44:56 am | Posted By CASANSAAR
Facing flak from civil society for not doing enough to deal with the menace of black money, the government today announced setting up of another panel to suggest ways to trace tax defaulters, reveal their identity to the public and recover taxes.The committee, set up by Central Board of Direct...
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Finance |
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0 | Hits : 896
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Extra efforts would be required to achieve tax targets: Pranab
Posted Date : 08-Jun-2011 , 11:43:20 am | Posted By CASANSAAR
Amid fears of moderation in growth, Indian Finance Minister Pranab Mukherjee Wednesday said sustained efforts would be needed to achieve indirect tax collection target of Rs 3.92 lakh crore, about 15 per cent more than the last fiscal.The Minister, while addressing the annual conference of chief com...
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Income Tax |
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0 | Hits : 693
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FinMin overhauls intel mechanism to begin criminal prosecution
Posted Date : 08-Jun-2011 , 11:42:44 am | Posted By CASANSAAR
The Finance Ministry is bringing under one umbrella the intelligence and criminal investigation units of the Income Tax department to enhance prosecution powers to counter terror financing and check transactions that pose threat to national security.The department will now train and designate its of...
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Finance |
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0 | Hits : 866
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SBI to hire over 5,000 officers
Posted Date : 08-Jun-2011 , 11:41:19 am | Posted By CASANSAAR
The country's largest lender State Bank of India plans to hire over 5,000 officers, the vast majority of whom would be for its associate banks.While a total of 4,987 officers would be recruited for associate banks of SBI, as many as 206 officers would be hired for State Bank of India itself.The asso...
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General |
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0 | Hits : 859
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Govt approves 16 FDI proposals worth Rs 924 crore
Posted Date : 07-Jun-2011 , 08:37:40 pm | Posted By CASANSAAR
The government on Tuesday said it has cleared 16 foreign direct investment (FDI) proposals amounting to Rs 923.55 crore, including those of Star News Broadcasting Ltd and L&T Finance Holdings.
A total of 38 FDI proposals were taken up by the Foreign Investment Promotion Board (FIPB), but ...
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Finance |
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0 | Hits : 1315
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Govt bets on new tax code to bring back black money
Posted Date : 07-Jun-2011 , 08:26:19 pm | Posted By CASANSAAR
The DTC is proposed to be implemented from April next year
With the growing pressure for steps to tackle unaccounted income hidden abroad, the government has identified the proposed Direct Taxes Code (DTC) as a significant tool in this regard.
The DTC is proposed to be implemented from Apr...
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Income Tax |
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0 | Hits : 761
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Banks may get to sell products of 4 insurance companies
Posted Date : 07-Jun-2011 , 08:16:36 pm | Posted By CASANSAAR
Banks may soon be allowed to sell products of four insurance companies. According to a report of the Committee on Bancassurance, banks may be allowed to tie up with any two sets of insurers - two in the life insurance sector , two in non-life, two in health, ECGC and AIC. Bancassurance, a distributi...
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Banking |
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0 | Hits : 1002
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Committee on black money likely to hold 1st meet on June 9
Posted Date : 06-Jun-2011 , 09:46:15 pm | Posted By CASANSAAR
The CBDT chairman-headed committee, set up to strengthen ways to curb black money in the country, is likely to hold its first meeting on June 9. The meeting, which comes in the backdrop of the agitation led by Yoga guru Baba Ramdev, will begin with discussions and modalities on a number of issues re...
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Income Tax |
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1 | Hits : 754
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Swings in banks' earnings is not reflective of best practices: RBI
Posted Date : 06-Jun-2011 , 09:43:14 pm | Posted By CASANSAAR
Violent swings in banks' earnings whenever there is a change of guard, known as the new broom syndrome, is not reflective of best practices, said a central banker in a veiled caution to local lenders to end accounting jugglery to dress up performance. "Financial reporting should not be as per the mi...
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RBI |
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0 | Hits : 1069
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Companies can register in 24 hrs from first week of July
Posted Date : 06-Jun-2011 , 09:36:54 pm | Posted By CASANSAAR
Corporate affairs ministry to launch digitised service in July.
Come July, you can register a company in India in 24 hours! The Union ministry of corporate affairs has set the first week of July as the target date for launching a completely digitised service that will allow anyone with all ...
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Corporate Law |
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1 | Hits : 1199
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India on IATA's 'Wall of Shame' for imposing high service tax
Posted Date : 06-Jun-2011 , 09:29:33 pm | Posted By CASANSAAR
India was on Monday put on the 'Wall of Shame' by the IATA for imposing high service tax on air tickets when aviation sector was growing at a high pace, with the world airlines' body warning the country not to kill the "goose that lays golden eggs". The government was put on the Wall of Shame at the...
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Service Tax |
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0 | Hits : 840
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No filing of tax return for salary and interest income up to Rs 5 lakh
Posted Date : 06-Jun-2011 , 09:26:33 pm | Posted By CASANSAAR
As many as 85 lakh salaried tax payers whose taxable income, including salary and interest income, is up to Rs 5 lakh, are not required to file income-tax return from now onwards. "No income-tax returns is required for salaried persons whose annual annual taxable income including salary and interest...
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Income Tax |
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0 | Hits : 1299
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Gross Direct Tax Collections up by 37.34 per cent while Net Direct Tax Collections Decline by 47.93 per cent during First Two Months of Current Financial Year
Posted Date : 06-Jun-2011 , 11:03:50 am | Posted By CASANSAAR
Gross direct tax collections during the first two months of the current financial year (April & May 2011) are up by 37.34 percent at Rs.50,405 crore as against Rs.36,702 crore in the same period during the last fiscal. Net direct tax collections were, however, down by 47.93 per cent at Rs.12,954...
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Income Tax |
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0 | Hits : 825
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RBI monitoring economy, liquidity before policy action
Posted Date : 06-Jun-2011 , 10:57:22 am | Posted By CASANSAAR
Ahead of its mid-quarterly policy review, the Reserve Bank today said it is monitoring the economic data and also the liquidity situation, and would take a forward-looking view while deciding on the policy action."We would monitor various data...and take a forward- looking view and take action", RBI...
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RBI |
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0 | Hits : 966
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SC issues notice to government on eviction of Baba Ramdev
Posted Date : 06-Jun-2011 , 03:37:41 am | Posted By CASANSAAR
The Supreme Court on Monday issued notice to the government on eviction of Baba Ramdev from the Ramlila ground. Taking suomoto cognizance of Baba's eviction by the government the apex court gave the government two-week notice to respond. An advocate on Sunday approached the Supreme Court seekin...
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General |
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1 | Hits : 900
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SEBI plans independent auditor for IPOs
Posted Date : 05-Jun-2011 , 09:07:07 pm | Posted By CASANSAAR
The Securities and Exchange Board of India (SEBI) is contemplating introducing a process audit — to be carried out by an independent auditor— of initial public offerings or IPOs.
The auditor would examine the procedures followed by registrar & transfer agents responsible for...
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SEBI |
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0 | Hits : 1157
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Capital inflows not sensitive to interest rate changes: RBI
Posted Date : 05-Jun-2011 , 09:00:12 pm | Posted By CASANSAAR
Foreign capital inflows are insensitive to interest rate changes in the country, according to a Reserve Bank of India (RBI) study. It said that a percentage point rise in interest rate results in just about 0.05 percentage points increase in net capital flows to India. The RBI said domestic industri...
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RBI |
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0 | Hits : 959
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CBI to hire bankers, chartered accountants
Posted Date : 05-Jun-2011 , 08:57:51 pm | Posted By CASANSAAR
With the graph of economic crimes on the rise, the Central Bureau of Investigation (CBI) plans to recruit more chartered accountants and bankers.
“Specialist investigators will be inducted for cases of banking and other economic frauds,” CBI sources said, adding that newer kinds...
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General |
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0 | Hits : 1557
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CBI, I-T on Ramdev trail
Posted Date : 05-Jun-2011 , 08:49:46 pm | Posted By CASANSAAR
After the midnight purge, Baba Ramdev now faces CBI and income tax department scrutiny. The government activated the two agencies to look into the companies, properties and audit accounts of the yoga guru and his aides on Sunday, the day it broke up his fast,evicting him and his supporters from the ...
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Income Tax |
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1 | Hits : 1100
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Baba Ramdev evicted after lathicharge, tear gas shells
Posted Date : 04-Jun-2011 , 09:18:24 pm | Posted By CASANSAAR
Baba Ramdev's hunger fast and protest against corruption ended with scenes of violence and drama after the Delhi police used a lathicharge and tear gas shells on the Baba's supporters before detaining him at Ramlila Maidan which had served all day as a sort of capital city for the yoga icon and his ...
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General |
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0 | Hits : 1285
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India's forex reserves rise by $1.68 billion to $310.21 billion
Posted Date : 04-Jun-2011 , 08:03:41 am | Posted By CASANSAAR
India's foreign exchange (forex) reserves rose by $1.68 billion to $310.21 billion for the week ended May 27 on the back of a sharp increase in foreign currency assets. This is the second consecutive weekly jump in the country's forex reserves kitty. The forex reserves had increased by $1.04 bil...
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Finance |
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0 | Hits : 858
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PAN to be must for all high-value spendings, overseas travels and new debit cards to come under lens
Posted Date : 03-Jun-2011 , 08:30:00 pm | Posted By CASANSAAR
All high-value jewellery purchases, debit card requests, overseas travels, and life insurance premiums over Rs 50,000 will soon be tagged, with the Central Board of Direct Taxes making it mandatory to quote permanent account numbers (PAN) in such transactions. The Income-Tax department has amended r...
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Income Tax |
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0 | Hits : 1310
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Govt amends guidelines, allows tax relief for infrastructure funding companies
Posted Date : 03-Jun-2011 , 11:28:25 am | Posted By CASANSAAR
The government today amended guidelines for Public Financial Institutions (PFIs) permitting private companies, primarily engaged in infrastructure funding , to attain the status of a PFI and, seek tax and other benefits. Under the new norms notified by the Ministry of Corporate Affairs, any company ...
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Income Tax |
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0 | Hits : 775
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RIL to become debt-free this year: Mukesh Ambani
Posted Date : 03-Jun-2011 , 04:05:50 am | Posted By CASANSAAR
Corporate giant Reliance Industries' Chief Mukesh Ambani today announced that the company would become debt-free in the current financial year.Announcing a bullish stance on the company's financial position, the Chairman and MD said that RIL would become debt-free on a net basis in the current 2011-...
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General |
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0 | Hits : 822
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Draft norms on new bank licences soon
Posted Date : 02-Jun-2011 , 09:00:07 pm | Posted By CASANSAAR
The Finance Ministry on Thursday said the Reserve Bank will come out with the draft guidelines on new bank licences soon.
“The RBI has given it (recommendations) to the Finance Ministry and is also consulting other stakeholders. Based on this, they will come out with draft guidelines ...
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Banking |
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0 | Hits : 928
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Income-tax department to seek details of Hasan Ali Khan's Swiss Bank accounts
Posted Date : 02-Jun-2011 , 08:51:56 pm | Posted By CASANSAAR
The income-tax department is preparing to send another Letter Rogatory to Swiss authorities, seeking details of Pune-based stud farm owner Hasan Ali Khan's Swiss Bank accounts . As part of this exercise, it has asked the Enforcement Directorate to provide a copy of the statements given to it by Khan...
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Income Tax |
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0 | Hits : 846
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