| Institute of Chartered Accountants of India Celebrates Foundation Day Posted: 01 Jul 2010 08:26 PM PDT 
Every year 1st of July is celebrated as the Foundation Day of ICAI as it was on this day in 1949 that the Parliament passed the Chartered Accountants Bill. Deputy Chairman of Rajya Sabha and the Guest of Honour at the celebration, Shri K. Rehman... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Salman Khurshid for 33% reservation for women in CA profession Posted: 01 Jul 2010 08:16 PM PDT 
The Corporate Affairs Minister, Mr Salman Khurshid, has called for higher representation of women in the chartered accountancy profession, similar to the 33 per cent reservation for women in Parliament. "If there can be 33 per cent representation... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Exporter demands refund of taxes on diesel Posted: 01 Jul 2010 08:10 PM PDT 
Exporters are demanding refund of taxes on diesel as they fear that subjecting the fuel to global rates would create problems for a power-starved industry, which depends on it for daily operations. Any decision to decontrol diesel prices, even in a... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Tribunal directed JetLite to pay Rs 100 crore as a pre-deposit on a service tax dispute Posted: 01 Jul 2010 08:07 PM PDT 
The Customs, Excise & Service Tax Appellate Tribunal has directed JetLite (formerly Sahara Airlines Ltd) to pay Rs 100 crore (Rs 1 billion) as a pre-deposit on a service tax dispute, pending final settlement.Of the amount, Rs 64 crore (Rs 640... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Income-tax department narrows down its probe into the Indian Premier League to three franchisees Posted: 01 Jul 2010 08:01 PM PDT 
The income-tax department has narrowed down its probe into the Indian Premier League to three franchisees Rajasthan Royals, Kolkata Knight Riders and Kings XI Punjab after initial findings. The department has also written to tax authorities in... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Goods exempt from VAT now may attract tax at lower rate in GST regime Posted: 01 Jul 2010 07:57 PM PDT 
The Centre is likely to offer a sweetener to goods that go out of the exempted list for excise once the goods and services tax (GST) kicks in next year.While identifying the list of products that will go out of the 350item list, the Union finance... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| New base rate and its impact on home loan borrowers Posted: 01 Jul 2010 07:28 PM PDT 
Floating rate home loan borrowers, stuck on higher interest rates, can expect some relief from today (July 1).The introduction of base rate will ensure that if they are linked to it, they will see automatic rise and fall in their existing rates. [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| ICSI Recommendations to Strengthen Corporate Governance Framework and Suggestions on the Companies Bill, 2009 Posted: 01 Jul 2010 07:19 PM PDT 
The Satyam revelations in January 2009 led to a re-look at the regulatory provisions that exist. The Council of the Institute accordingly constituted a Core Group to analyse the issues arising out of Satyam Episode and to inter alia make suitable... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| ICAI President's Message – July 2010 Posted: 01 Jul 2010 07:04 PM PDT 
As part of our responsibility to train officials of various departments of the Government and public sector undertakings on the matter of IFRS implementation, meetings were held with the Secretary, Ministry of Urban Development, CMD, Power Finance... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Frequently asked questions-answers on housing loan Posted: 01 Jul 2010 06:55 PM PDT 
1. For what purposes can I seek a first time home loan?You can generally seek a first time home loan for buying a house or a flat, renovation, extension and repairs to your existing house. Most banks have a separate policy for those who are going... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| New Base rate system for interest rate brings more transparency Posted: 01 Jul 2010 06:50 PM PDT 
If you are looking for a home loan, this is the right time to get one. A new system for interest rates will kick in on Thursday, which will be transparent, called the `base rate' system. This will serve as the minimum rate for all loans and will be... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Expression of Interest for Appointment of Auditor for World Bank funded projects Posted: 01 Jul 2010 06:26 PM PDT 
POWERGRID intends to select an Auditor for World Bank funded projects for auditing of the annual Project Financial Statements (PFS) for the Financial Year 2009-2010. The objective of the audit of the PFS is to enable the auditor to express a... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Auditors qualify Maytas Infra accounts in respect of recovery of ICDs Posted: 01 Jul 2010 09:23 AM PDT 
Maytas Infra Ltd today maintained that it has documentary evidence to show that Mahindra Satyam (Satyam Computer) was the ultimate beneficiary of Rs 324 crore, which was handed over as inter-corporate deposits (ICDs). This is part of Rs 392 crore... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Service tax department issues 32 show cause notices to IPL franchises Posted: 01 Jul 2010 09:17 AM PDT 
After the income tax (I-T) department raising a demand of over Rs 600 crore from the Board of Control for Cricket in India (BCCI), the service tax department, another arm of the finance ministry, has slapped as many as 32 show cause notices on... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Empanelment of CA firms with SBI Life Insurance Posted: 01 Jul 2010 09:12 AM PDT 
SBI Life ("the Company") seeks to invite proposals from interested parties for conducting the audit of corporate agents of the Company. The work involves carrying out on site/ off site inspection based on the defined checklist provided by the... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| ICAI wants more regulatory powers to prevent frauds Posted: 01 Jul 2010 09:03 AM PDT 
India's apex audit and accounting body wants more regulatory powers to prevent frauds such as the one perpetrated by B. Ramalinga Raju, the founder of Satyam Computer Services Ltd. The Institute of Chartered Accountants of India (Icai), in a report... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Extension of Due Date for payment of Profession Tax for the FY 2010-2011 Posted: 01 Jul 2010 08:54 AM PDT 
The Government of Maharashtra has extended the Due Date for payment of Profession Tax for the FY 2010-2011 to 31st July, 2010.The Profession Tax Department has allotted new Enrollment and Registration Numbers. The new Enrollment Numbers starts with... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| VAT Cir – 20T of 2010- Applicability of the Hon. Supreme Court Judgment in the case of M/s. Pee Vee Textiles Judgment Posted: 01 Jul 2010 08:46 AM PDT 
The issue as regards pro rata allowance of benefits under the Package Scheme of Incentives was in dispute. A division Bench of Hon'ble Bombay High Court by its judgment dt. 13.12.2008 has decided the reference filed by the Commissioner of Sales Tax... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Legal Reforms – What The Law Ministry Should Do With Immediate Effect? Posted: 01 Jul 2010 08:31 AM PDT 
I am very happy to listen to Smt. Sonia Gandhi and Shri Manmohan Singh expressing their intention to correct our legal system and to restore the public perception of legal profession and the role of Judiciary in India. It is a fact that India can... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Striking off a Company is Now Not a Lengthy Process Posted: 01 Jul 2010 08:26 AM PDT 
As and when any person goes for starting any business, a question arise in his mind what form of business is to start i.e. whether sole proprietor ship, partnership or a company. Those who want to save themselves from legal obligations of the ROC,... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
| Company Law Settlement Scheme, 2010 for defaulting companies Posted: 30 Jun 2010 09:01 PM PDT 
The objective of CLSS is to give an opportunity to defaulting companies to enable them to make their default good by filing belated documents and to become a regular compliant in future. CLSS would condone the delay in filing documents with the... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]  |
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