| Soon CAs doing ICAEW will enjoy exemption of papers of ICAEW
We understand that The Institute of Chartered Accountants of India (ICAI) has been increasingly focusing to deepen the knowledge thrust of the budding Chartered Accountants on one hand and also on other hand ICAI is trying to enable the members of... |
| RBI Circular on Advance Remittance for import of Services
Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No. 15 dated September 8, 2008, in terms of which the limit for advance remittance for all admissible current account transactions for import of... |
| RBI Circular on Issue of Bank Guarantee on behalf of service importers
RBI/2009-10/ 176 October 5, 2009- A.P. (DIR Series) Circular No.11 Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to Regulation 4 of the Foreign Exchange Management (Guarantees) Regulations, 2000 notified vide... |
| Main provisions of Payment of Bonus Act, 1965 in brief
Applicability of Act (Sec 1) Every factory wherein 10 or more persons are employed with the aid of power or An establishment In which 20 or more persons are employed without the aid of power on any day during an accounting year. Establishment :... |
| Income tax department not sending any mail regarding IT refund
Information has been received from several quarters that people are receiving electronic mails informing them of their income-tax refunds and seeking their credit card details. The e-mail is sent from the following or similar mailing... |
| NCAS will soon play the Supervisory role of both accounting and auditing standards
The Government is planning to strengthen the National Advisory Committee on Accounting Standards (NACAS), a move that will make the Institute of Chartered Accountants of India (ICAI) report to NACAS. For this, it will hand over the supervisory role... |
| Government will soon empowered to incorporate in the Companies Act any changes in accounting standards
The Government will soon be empowered to swiftly incorporate in the Companies Act any changes in accounting standards through the rules governing the Act. It will not have to go through the long process of amending the Act. Related... |
| ICAI planning to introduce sector-specific accounting standards by early next year
The Institute of Chartered Accountants of India (ICAI) is planning to introduce sector-specific accounting standards to bring in more transparency in handling corporate accounts. ICAI Committee for Members in the Industry (CMII) has already formed... |
| An order passed without discussion is liable for reopening
In The Case of :- EMA India vs. ACIT , Decided by :- Allahabad High Court In respect of AY 2000-01, the assessee filed a ROI. In the accompanying balance sheet it was disclosed that prior period expenditure of Rs. 5,41,850 was debited to the P&L... |
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