Sebi wants IPO bankers to disclose past record
Posted Date : 01-May-2011 , 11:27:16 am | Posted By CASANSAAR
With an aim to rein in cases of over-pricing and over-hyping of IPOs by merchant bankers, market watchdog Sebi wants them to tell the investors about their past record in handling the public offers and also keep the prices at realistic levels.Sebi has expressed its displeasure in very clear te...
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SEBI |
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I-T dept buys real estate worth Rs 2,500 cr in one yr
Posted Date : 01-May-2011 , 11:25:53 am | Posted By CASANSAAR
The Income Tax Department became one of the largest purchasers of real estate properties last year as it embarked on a mega expansion spree to spread its establishment for enhancing taxpayer services in the country.The department, which has recently begun a special drive to check prevalence of...
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Income Tax |
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0 | Hits : 798
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RBI likely to raise policy rates by 25 bps to tame inflation
Posted Date : 01-May-2011 , 11:23:45 am | Posted By CASANSAAR
Faced with stubborn inflation, RBI is likely to raised key policy rates by at least 25 basis points in its annual credit policy for 2011-12 to be announced on Tuesday to arrest the rate of price rise, say bankers."Given the macro economic conditions, it is expected that the RBI would hike rates by a...
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RBI |
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Govt tells cos to send annual reports via e-mail, save paper
Posted Date : 01-May-2011 , 11:23:03 am | Posted By CASANSAAR
In its bid to promote environment friendly practices, the government has allowed the companies to cut their paper costs by sending annual reports and balance sheets to shareholders on e-mail.In the letter circulated to the Registrar of Companies and Regional Directors, the Corporate Affairs Mi...
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Corporate Law |
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1 | Hits : 974
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FDI in multi-brand retail may go to Cabinet after poll results
Posted Date : 01-May-2011 , 11:21:35 am | Posted By CASANSAAR
Industry Ministry's proposal to open multi-brand retail for foreign investment is likely to go to the Cabinet soon after assembly election results of four states and a Union Territory, taking on board job-related concerns of the Labour Ministry, sources said.The Cabinet note, circulated by the Depar...
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Finance |
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KV Kamath is new Infosys chairman
Posted Date : 30-Apr-2011 , 08:13:50 am | Posted By CASANSAAR
It's the end of an era for Infosys. 30 years from its inception, founder and chief mentor Narayana Murthy will step down in August 2011 giving way to KV Kamath, the current non-executive Chairman of ICICI Bank. Kamath as been an independent director on the Infosys board since May 2009.
The ...
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General |
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Gold climbs to new high of Rs 23,175/10 gram
Posted Date : 30-Apr-2011 , 06:17:58 am | Posted By CASANSAAR
Gold prices surged to a new peak and crossed the Rs 23,000 mark in the national capital today on sustained buying by speculators, triggered by a strong rally in overseas markets. Silver, however, dropped due to reduced offtake.The yellow gold spurted by Rs 655 to all-time high of Rs 23,175 per 10 gr...
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General |
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Government faces cash crunch on tax refunds
Posted Date : 29-Apr-2011 , 09:38:36 pm | Posted By CASANSAAR
The government is facing a temporary cash crunch on account of tax refunds of nearly Rs 45,000 crore during April and May, prompting it to resort to short-term borrowing .
While tax refund is an annual affair, the use of electronic return filing and processing has resulted in faster refund of...
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Income Tax |
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0 | Hits : 936
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HC stays Centre''s notification levying service tax on lawyers
Posted Date : 29-Apr-2011 , 11:20:02 am | Posted By CASANSAAR
In a relief to advocates across the country, the Delhi High Court today stayed a Central government notification levying service tax on practising lawyers. "The notification is stayed," a bench comprising Chief Justice Dipak Misra and Sanjiv Khanna said, on a petition by Delhi High Court Bar Associa...
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Service Tax |
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0 | Hits : 1391
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RBI Governor meets Pranab ahead of credit policy
Posted Date : 29-Apr-2011 , 11:16:41 am | Posted By CASANSAAR
Amid concerns over high inflation and the possibility of hike in key policy rates, Reserve Bank governor D Subbarao today called on Finance Minister Pranab Mukherjee to discuss the state of economy ahead of the apex bank's monetary policy next week."As a standard practice I had come to review the ma...
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RBI |
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Govt will notify new M&A rules by May 5, says CCI
Posted Date : 29-Apr-2011 , 11:14:17 am | Posted By CASANSAAR
The government will notify the new rules for corporate mergers and acquisitions on May 5, following which it will be mandatory for companies to seek the Competition Commission's approval for high voltage deals, Chairman Dhanendra Kumar said today."By May 3-4, the rules will be finalised and by May 5...
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Finance |
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Delhi govt to rein in placement agencies
Posted Date : 28-Apr-2011 , 09:25:12 pm | Posted By CASANSAAR
Delhi government today decided to rein in placement agencies across the city and put an end to the "dubious modus operandi" of some of them after it emerged that owner of one such agency was allegedly involved in kidnapping an 18-month old baby to make a fast buck.
The government also...
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General |
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Air India pilots still on strike, over 50 Air India flights cancelled
Posted Date : 28-Apr-2011 , 08:58:59 pm | Posted By CASANSAAR
With the Air India pilots” strike entering its second day on Thursday, over fifty flights were cancelled while several others were delayed.
In Delhi, 33 domestic flights were cancelled, as the airline management decided to operate only those flights for which cabin crew as well as ade...
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General |
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EPFO to pay 9.5 percent interest foe F.Y. 2011-12 till new rate is decided
Posted Date : 28-Apr-2011 , 08:50:02 pm | Posted By CASANSAAR
Subscribers of retirement fund manager EPFO, settling their final claims before the new rate is announced for the current fiscal, will get the existing 9.5 per cent interest on their deposits.
“Since the rate of interest (on deposits) for 2010-11 has been declared as 9.5 per cent per ...
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Income Tax |
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0 | Hits : 1392
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ICAI
Posted Date : 28-Apr-2011 , 11:09:58 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI)’s annual international meet started in Dubai on Thursday. More than 800 delegates from various GCC countries attended the inaugural session of the two-day conference hosted by Dubai chapter of the Institute.
Held under the theme “Wo...
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ICAI |
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PAC meeting on 2G scam remains inconclusive; 11 of 21 members reject draft report
Posted Date : 28-Apr-2011 , 11:02:01 am | Posted By CASANSAAR
The Public Accounts Committee meeting on Thursday remained inconclusive. Eleven out of 21 members of the Committee rejected the draft report on 2-G scam prepared by the Chairman of the Committee Dr. Murli Manohar Joshi.
The Committee was scheduled to submit its report by Saturday. Dr. M M J...
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General |
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Wipro's Azim Premji concerned over various scandals
Posted Date : 28-Apr-2011 , 10:47:41 am | Posted By CASANSAAR
IT czar Azim Premji today expressed concern over various scandals that have surfaced in the country during the last one year and said good leadership in politics, bureaucracy, business and society would help end corruption in India.
"In the last one year we witnessed the Telecom scandal, CWG and me...
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General |
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0 | Hits : 827
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Income Tax dept to give transcript of Radia tapes to CBI, ED:SC
Posted Date : 27-Apr-2011 , 09:00:57 pm | Posted By CASANSAAR
The Supreme court on Wednesday directed the Income Tax department to provide a transcript of tapped conversations of corporate lobbyist Neera Radia with corporate honchos, politicians and bureaucrats to CBI and ED which are probing 2G scam case.
A bench of Justices GS Singhvi and AK Ganguly passed ...
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Income Tax |
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Raja refuses to disclose I-T details under RTI
Posted Date : 27-Apr-2011 , 08:58:57 pm | Posted By CASANSAAR
Former union telecom minister A Raja, who is in Tihar jail in the spectrum scam, has objected to the disclosure of his tax returns by the income-tax department under the Right To Information (RTI) Act.
Acting on his objection, the department has rejected the RTI application filed by V Gopalakrishna...
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Income Tax |
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Kochi Tuskers in tax-evasion row
Posted Date : 27-Apr-2011 , 11:13:38 am | Posted By CASANSAAR
Trouble for Kochi Tuskers Kerala never seems to end -- a fresh row has broken out now between the franchise and Cochin Corporation over alleged tax evasion on ticket sales.
Ahead of Wednesday night's match, when the tickets were brought to the corporation for sealing, a new batch of tickets priced ...
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Income Tax |
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US seeks changes in India's DTH satellite policy
Posted Date : 27-Apr-2011 , 11:11:26 am | Posted By CASANSAAR
The US has said it will "encourage" India to change its policies which give exclusive rights to the Indian Space Research Organisation (ISRO) for selling the satellite capacity to the lucrative direct-to-home television market.In a report, the US Trade Representative (USTR) raised concerns over Indi...
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General |
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Wipro to hike wages by 12-15 pc for staff in India
Posted Date : 27-Apr-2011 , 11:10:25 am | Posted By CASANSAAR
The country's third largest software exporter Wipro today said it will hike salaries for its employees in India by 12-15 per cent as it looks to counter high attrition.The wage hike, effective June 1, will be to the tune of 2-4 per cent for onsite staff (at the customer site).Announcing Q4 201...
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General |
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I-T can reopen file if income not assessed properly
Posted Date : 27-Apr-2011 , 05:54:18 am | Posted By CASANSAAR
The Delhi High Court has ruled that the Revenue can reopen the assessment proceedings on change of opinion that the income of the assessee has escaped assessment. Such re-opening of the assessment by the Income Tax department is legal where no return has been filed by the assessee for the assessment...
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Income Tax |
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3 | Hits : 1133
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Obama seeks to end tax subsidies for oil companies
Posted Date : 27-Apr-2011 , 05:44:26 am | Posted By CASANSAAR
US President Barack Obama on Tuesday urged Congressional leadership to take immediate action to eliminate unwarranted tax breaks for the oil and gas industry and to use those dollars to invest in clean energy and reduce America's dependence on foreign oil.Obama shot off a letter to the Congressional...
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General |
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0 | Hits : 883
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Indian names in Swiss bank data list : Assange
Posted Date : 26-Apr-2011 , 09:19:13 pm | Posted By CASANSAAR
In comments that could fuel a fresh controversy over the black money issue, WikiLeaks founder Julian Assange today said there are Indian names in the Swiss bank data list that are going to be made public.
"Yes, there are Indian names in the data that we have already published or are going to publis...
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Income Tax |
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1 | Hits : 1244
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Delhi, Mumbai airport development fee without
Posted Date : 26-Apr-2011 , 09:12:49 pm | Posted By CASANSAAR
The levy and collection of development fees (DF) from airline passengers in Delhi and Mumbai by the private operators of these airports is illegal, the Supreme Court said today.
The court barred the Mumbai airport operator — Mumbai International Airport Limited (MIAL) — ...
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General |
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0 | Hits : 1000
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Now, quote PAN to buy gold in cash
Posted Date : 26-Apr-2011 , 09:01:04 pm | Posted By CASANSAAR
UNDER attack for not being able to curb black money transactions, the finance ministry is planning to make quoting of the permanent account number (PAN) mandatory for more transactions. The income tax (I-T) department may make quoting of PAN in documents for sale and purchase of bullion or jewellery...
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Income Tax |
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0 | Hits : 1003
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SBI rules out merger of affiliates this year
Posted Date : 26-Apr-2011 , 08:54:31 pm | Posted By CASANSAAR
Finance Minister Pranab Mukherjee will review the performance of all public sector banks next month after they announce financial results for 2010-11, a senior official said.
"We will have a review meeting next month with the finance minister...may be towards the end of May," Department of Fi...
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Banking |
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Rs 40,000 cr I-T refunds in fiscal beginning itself
Posted Date : 26-Apr-2011 , 08:51:42 pm | Posted By CASANSAAR
The Income Tax Department will refund about 40,000 crore by the end of April or early May, as part of the initiative by the Central Board of Direct Taxes (CBDT) to complete the entire refunding process in the very first month of a fiscal year.
This initiative comes as a big relief to taxpayers who ...
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Income Tax |
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0 | Hits : 822
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RBI slaps Rs1.95 cr on 19 banks for flouting derivative norms
Posted Date : 26-Apr-2011 , 11:59:55 am | Posted By CASANSAAR
The Reserve Bank (RBI) today slapped a penalty of Rs1.95 crore on 19 banks, including heavyweights SBI, HDFC Bank, ICICI Bank and Citibank, for violating norms on derivatives, an instrument used to hedge financial risks.
The fine has been imposed on the banks for selling derivative products...
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RBI |
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