Cos to give details of CSR initiatives to shareholders
Posted Date : 08-May-2011 , 10:57:07 am | Posted By CASANSAAR
The new company law will make it mandatory for companies to disclose details of social sector initiatives, called CSR, in addition to money spent, to shareholders in their annual reports.Not just how much, but companies will also have to disclose to their shareholders where they have spent the...
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Corporate Law |
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UCO Bank moves HC against IT order levying fine on it
Posted Date : 08-May-2011 , 10:54:46 am | Posted By CASANSAAR
The United Commercial Bank has moved the Delhi High Court challenging an Income Tax notice that slapped a penalty of over Rs 54 lakh on its branch for not making tax deduction at source on a fixed deposit account worth Rs 7.7 crore opened by the HC.A bench of Chief Justice Dipak Misra and Justice Sa...
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Income Tax |
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0 | Hits : 730
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Happy Mother's Day
Posted Date : 07-May-2011 , 11:04:16 pm | Posted By CASANSAAR
When you feel you are alone in the crowd,When you think No.1 can understand you,When your love is rejected by others,& when you hate your Life,Just close your eyes, & see, her face who loves you...more than any 1 else,who care for you in loneliness,& dies when you cry.She is no 1...
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General |
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0 | Hits : 779
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I-T issues Rs 25,000 cr refunds; to issue more
Posted Date : 06-May-2011 , 09:26:56 pm | Posted By CASANSAAR
The Income Tax department has issued 40 lakh refunds worth Rs 25,000 crore in the current financial year to taxpayers and orders have been issued to generate the remaining few lakhs soon. Central Board of Direct Taxes (CBDT) Chairman Sudhir Chandra gave the figures while addressing the top brass and...
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Income Tax |
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0 | Hits : 747
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Public debate on negative list for tax on services initiated
Posted Date : 06-May-2011 , 09:25:48 pm | Posted By CASANSAAR
The Finance Ministry on Friday sought to initiate a public debate on the issue of evolving a small negative list for tax on services, as was announced by Finance Minister Pranab Mukherjee in the course of his speech while presenting the budget for the current fiscal.
The net impact of a neg...
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Service Tax |
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CCBCAF & SMP initiative for prescribing the Minimum Recommended Scale of Fees for the Professional Assignments done by the Chartered Accountants
Posted Date : 06-May-2011 , 11:25:34 am | Posted By CASANSAAR
The Committee for Capacity Building of CA Firms and Small & Medium Practitioners, ICAI (CCBCAF & SMP) has taken a major initiative for prescribing the Minimum Recommended Scale of Fees for the professional assignments done by our members of ICAI. The recommendation is about the fee to be cha...
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ICAI |
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0 | Hits : 1428
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DMK MP Kanimozhi's bail plea adjourned
Posted Date : 06-May-2011 , 07:50:34 am | Posted By CASANSAAR
Tension gripped the DMK camp today as a Delhi court adjourned the hearing on bail plea of Chief Minister M Karunanidhi's daughter Kanimozhi, named co-conspirator in the chargesheet in 2G scam case, with the top leadership remaining huddled throughout the day.Responding to its summons, Kanimozhi,...
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General |
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0 | Hits : 839
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ED seeks contempt proceedings against Sahara chief
Posted Date : 06-May-2011 , 07:49:01 am | Posted By CASANSAAR
The Enforcement Directorate on Friday moved the Indian apex court seeking initiation of contempt of court proceedings against multi-business conglomerate Sahara group CMD Subrato Roy for allegedly interfering into the investigation of the 2G spectrum scam.The petition filed by the ED investigatin...
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General |
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0 | Hits : 808
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Black money case: ED charge sheets Hasan Ali, Tapuriah for money laundering
Posted Date : 06-May-2011 , 07:44:31 am | Posted By CASANSAAR
The Enforcement Directorate today chargesheeted Pune-based stud farm owner Hasan Ali Khan and his associate Kashinath Tapuriah in a case of alleged money laundering.
Khan (53), is alleged to have stashed huge amount of black money abroad including over USD 8 billion in the Union Bank of Switzerl...
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FEMA |
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0 | Hits : 918
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Cancelled HINDI MEDIUM Paper-3 of PCE and Paper-2 of IPCE of CA Examination-May 2011 held on 05 May 2011.The said exam will now be held on 17th May
Posted Date : 06-May-2011 , 04:14:23 am | Posted By CASANSAAR
5th May, 2011
IMPORTANT ANNOUNCEMENT CANCELLATION OF EXAMINATION OF GROUP-I, PAPER-3, LAW, ETHICS AND COMMUNICATION OF PROFESSIONAL COMPETENCE EXAMINATION AND GROUP-I, PAPER - 2, BUSINESS LAWS, ETHICS AND COMMUNICATIONS OF INTEGRATED PROFESSIONAL COMPETENCE EXAMINATION HELD ON 5TH MAY - 2011 IN ...
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Students Zone |
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Transfer of shares without consideration doesn't attract capital gains tax: Authority for Advance Rulings
Posted Date : 05-May-2011 , 09:01:33 pm | Posted By CASANSAAR
Transfer of shares for the purpose of business reorganisation, if done without consideration, does not attract capital gains tax, according to a ruling by the Authority for Advance Rulings (AAR) in the case of US-based Goodyear Tire and Rubber Company .
In the ruling given on May 2, AAR, a quasi-j...
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Income Tax |
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0 | Hits : 1723
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CBI arrests Chief Parliamentary Secretary, Punjab and an official of Registrar, Firms & Societies, Punjab in a bribery case
Posted Date : 05-May-2011 , 08:52:17 pm | Posted By CASANSAAR
CBI has registered a case U/S 8 of Prevention of Corruption Act against an official of Registrar, Firms & Societies, Punjab on the basis of a complaint received from Secretary of an Association alleging demand of bribe of Rs.1.5 crore by the official, of Registrar, Firms & Societies, Punjab,...
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General |
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0 | Hits : 1320
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'Gift of property by a Muslim need not be registered'
Posted Date : 05-May-2011 , 08:47:52 pm | Posted By CASANSAAR
A gift of immovable property made by a Muslim is valid even if it is not registered under the Transfer of Property Act or the Stamps and Registration Act, the Supreme Court today ruled.The apex court said though the TP Act mandates registration of a gift, the same would not apply to a Muslim d...
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Corporate Law |
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0 | Hits : 934
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I-T tracks frequent flyers to tax havens on Rs 1L income
Posted Date : 05-May-2011 , 08:41:02 pm | Posted By CASANSAAR
Tax sleuths tracking frequent flyers to international tax havens have found that some of these individuals have a declared annual income of as little as Rs 1 lakh and, in a few cases, no income at all!
This startling discovery was made after the Directorate of Income Tax Intelligence started scruti...
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Category :
Income Tax |
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1 | Hits : 939
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SC dissatisfied over IT probe into 2G scam
Posted Date : 05-May-2011 , 11:22:38 am | Posted By CASANSAAR
The tardy probe against corporate lobbyist Niira Radia and others for alleged tax evasion connected with 2G spectrum scam came in for sharp criticism from the Supreme Court which directed Income Tax department to be quicker and not to treat these cases in an "ordinary way."
The court said i...
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Income Tax |
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0 | Hits : 792
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Cancellation of HINDI MEDIUM Paper-3 of PCE and Paper-2 of IPCE of Chartered Accountants Examination-May 2011 scheduled to be held on 05 May 2011
Posted Date : 05-May-2011 , 11:17:38 am | Posted By CASANSAAR
Due to unavoidable reasons the examination of Paper –3- Law, Ethics and Communication of Professional Competence Examination and Paper -2- Business Laws, Ethics and Communications of integrated Professional Competence Examination which were scheduled to be held on 5th May 2011 (Thurs...
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Students Zone |
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2 | Hits : 868
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Sebi to outsource investor helpline to 3rd-party call centre
Posted Date : 05-May-2011 , 11:14:20 am | Posted By CASANSAAR
Market regulator Sebi has decided to outsource its investor helpline service to a third-party call centre, where at least 500 agents would be required to attend to investors' calls on issues like IPOs and trading.The decision to outsource its investor helpline comes within weeks of Sebi deciding to ...
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SEBI |
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0 | Hits : 833
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Individual taxpayers need not declare high-value transactions
Posted Date : 04-May-2011 , 09:16:21 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has given a breather to individual tax payers from declaring high-value transactions with banks, mutual funds, credit cards, etc via the income tax return forms. The newly notified income tax return forms for the Assessment Year 2011-12 - including Sahaj, Sug...
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Income Tax |
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1 | Hits : 1448
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I-T finds tax evasion in 2G scam; status report in SC tomorrow
Posted Date : 04-May-2011 , 09:13:00 am | Posted By CASANSAAR
The Income Tax department has found instances of alleged tax evasion and “multiple routing” of undeclared wealth in the 2G spectrum allocation scam and will file its first status report on the probe in the case in the Supreme Court tomorrow.
The department, according to official...
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Income Tax |
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0 | Hits : 804
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Govt mulling Rs 3/ltr diesel rate hike after Assembly polls
Posted Date : 04-May-2011 , 09:08:52 am | Posted By CASANSAAR
The government plans to hike diesel prices by up to Rs 3 a litre soon after the Assembly elections in five states are over next week, while an equivalent steep increase in petrol rates is also on card."An Empowered Group of Ministers (EGoM) headed by Finance Minister Pranab Mukherjee is scheduled to...
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General |
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1 | Hits : 860
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Govt clears 21 FDI proposals
Posted Date : 03-May-2011 , 09:19:06 pm | Posted By CASANSAAR
The government has cleared 21 foreign direct investment, proposals worth 1,027 crore rupees. According to a Finance Ministry's statement a total of 47 FDI proposals were taken up by the Foreign Investment Promotion Board, in a meeting held on 20th of last month. The Board deferred decisions on 17 ap...
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FEMA |
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0 | Hits : 994
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Repo to be reference rate for monetary policy: RBI
Posted Date : 03-May-2011 , 11:11:28 am | Posted By CASANSAAR
In line with international practice, the RBI today decided to anchor monetary policy through a single short term lending rate known as repo rate.Unlike in the past, the rate at which the RBI borrows from banks (reverse-repo) will be the benchmarked 100 basis points below the repo rates.Accordi...
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RBI |
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1 | Hits : 922
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RBI ups repo, reverse repo by 50bps, CRR kept unchanged
Posted Date : 03-May-2011 , 03:41:56 am | Posted By CASANSAAR
In a bid to clamp down on resurgent inflation, the Reserve Bank of India, in its first monetary policy review of 2012, raised repo and reverse repo rates by 50 basis points, thus breaking its calibrated approach.
The cash reserve ratio (amount of funds that banks have to keep with RBI)...
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RBI |
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0 | Hits : 936
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PwC in $25.5 mn settlement over Satyam audit
Posted Date : 02-May-2011 , 09:36:53 pm | Posted By CASANSAAR
PricewaterhouseCoopers affiliates agreed to pay $25.5 million to former Satyam Computer Services Ltd investors to settle US litigation over the audit of the Indian outsourcing company.
The settlement came four weeks after PwC agreed to pay a record $7.5 million US penalty over its auditing work for...
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Auditing |
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1 | Hits : 1139
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RBI set to hike rates, loans will cost more
Posted Date : 02-May-2011 , 09:22:19 pm | Posted By CASANSAAR
Loans are expected to get more expensive both for corporates and individuals with Reserve Bank of India hinting that it is willing to sacrifice some growth in order to tame inflation. For markets, banks and economists , it is almost certain that RBI will raise interest rates by a minimum of 25 basis...
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RBI |
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0 | Hits : 862
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Country's exports went up by 37.55 %
Posted Date : 02-May-2011 , 09:19:48 pm | Posted By CASANSAAR
The country's exports went up by an impressive 37.55 per cent to 245.86 billion US Dollars during the last financial year 2010-11. An official press release said that demand for Indian merchandise increased not just in Western economies, but in new markets like Latin America and Africa as well. Acco...
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General |
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0 | Hits : 890
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SC adjourns Sahara case, allows more time to file documents
Posted Date : 02-May-2011 , 10:32:47 am | Posted By CASANSAAR
The Supreme Court today adjourned the hearing of the petition filed by the Sahara Group against the orders of the Allahabad High Court which necessitated the company to share full details of investors participating in its fund raising exercise with the market regulator SEBI.A three judges bench head...
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General |
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0 | Hits : 877
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Al-Qaeda leader Bin Laden 'dead'
Posted Date : 01-May-2011 , 10:10:55 pm | Posted By CASANSAAR
Al-Qaeda founder and leader Osama Bin Laden is dead, according to US media reports citing officials.
The US is in possession of Bin Laden's body, the reports say. President Barack Obama is due to make a statement shortly.
Mr Bin Laden is top of the US most wanted list.
He is accused of being behi...
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General |
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1 | Hits : 927
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Govt to come out with strategy to double exports
Posted Date : 01-May-2011 , 11:27:43 am | Posted By CASANSAAR
Government will come out with a strategy in next few days to double the country's export to USD 450 billion by 2014.Commerce and Industry Minister Anand Sharma said that within next three days, the government will come out with the "final strategy" for doubling the export in next three years.S...
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DGFT |
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0 | Hits : 1403
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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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0 | Hits : 867
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