| ICAI requested RBI to re-audit bad home loans sold to ARCIL by ICICI bank for irregularities 
THE INSTITUTE of Chartered Accountants of India (ICAI) has raised questions about ICICI Bank's home loans business and has sought a fresh central bank audit of a two-year-old sale deal of dud loans, after a Mumbai-based chartered accountant spotted... |
| e-payment of stamp duty in forms of ROC and frequently asked questions (FAQ) 
In furtherance of e-governance initiatives, provisions regarding stamp duty applicable on filing of e-forms have been amended and stakeholders shall have facility to pay stamp duty in electronic manner also. As of now, this process shall cover Form... |
| Assessing officer not having reason to believe that the seized cash represented the undisclosed income and rejection of application for release of the same 
CASE LAW DETAILS Decided by: High Court of Punjab & Haryana, In The case of: Rajinder Kumar Verma v. Union of India Adarsh Kumar Goel and L.N. Mittal, JJ., Appeal No.: C.W.P. No. 18727 of 2007, Decided on: November 11, 2008 RELEVENT... |
| Assessee can not claim Indexation benefit on Indira Vikas Patra (IVP) on receipt of payment of the same
SUMMARY OF CASE LAW Repayment of the deposited amount with interest on maturity by the Post Office cannot be treated as consideration for transfer of Indira Vikas patra (IVP) by the holder for the purpose of section 48. CASE LAW DETAILS Decided by:... |
| Assessee maintaining books of accounts only can claim deductions, allowances and rebates provided in-the Statute
SUMMARY OF CASE LAW Admissibility of claim of further deduction in a case where assessee has not maintained books of accounts and has returned his professional income on estimation basis. CASE LAW DETAILS Decided by: HIGH COURT OF KERALA, In The... |
| TRO may enquire in respect of benami property for recovering the outstanding demand of the assessee 
SUMMARY OF CASE LAW The limited scope of enquiry of the TRO while proceeding to exercise his jurisdiction under Rule 11 may be akin to the scope of enquiry under Order XXI Rule 58 of the Code of Civil Procedure, 1908 (as it stood prior to 1976... |
| Status of private limited company if shareholders exceed 50 and importance of records of ROC 
SUMMARY OF CASE LAW Supreme Court inter alia on prerequisites for conversion of a private company into a public company – It is not the records of the Registrar of Companies which determines the status of a company but the definition of a... |
| All about Deduction under Section 80G of the Income Tax Act, 1961 for donation 
INSPITE of all the contributions made to social causes, there is a huge gap between the demand of money from the needy and the amount donated by philanthropists. This probably, is the reason why the Government has given tax benefits on donations.... |
| ICAI announced Last date for Application for permission to vote by post 
ELECTION – 2009 : PERMISSION TO VOTE BY POST Last date for request of application complete in all respect is 1st October, 2009. Application is to be made in prescribed form of "Application for permission to vote by post". The said form is enclosed... |
| ICWAI to be renamed as Institute of Cost and Management Accountants of India (ICMAI) 
Cost accounting body The Institute of Cost and Works Accountants of India (ICWAI) will soon be known as "Institute of Cost and Management Accountants of India (ICMAI)" with the government agreeing for a change of name of the body. "The... |
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