. Attention of the members carrying out audit of financial statements of banks for the year ended March 31, 2009, is drawn to Reserve Bank of India's circular no. DBOD.BP.BC.No. 105/21.04....
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Income-tax (Seventh Amendment) Rules, 2009 -Insertion of rule 37 BA - "Furnishing of information under sub-section (6) of section 195. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD...
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Institute of Chartered Accountants of India (ICAI) is mulling bringing about some changes in the chartered accountancy course syllabus, ICAI president Uttamprakash Agrawal said...
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The Institute of Chartered Accountants of India (ICAI) has approached the ministry of corporate affairs (MCA) to discuss the functioning of all those foreign firms who are offering auditing services...
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The Institute of Company Secretaries of India (ICSI) has given a clean chit to the the company secretaries, G Jayaraman, global head of corporate governance and Savita Jyoti, practicing company...
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The government is considering a proposal to do away with the current system of calculating a product's cost through a fixed format, a move that will bring in flexibility and reduce compliance costs...
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Institute released two CDs on 'Bank Branch Audit - An Overview' recently and made content of these CDs available free of cost to the members associated with Bank Branch Audit....
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Institute of Chartered Accountants of India (ICAI) doesn't seem to have taken the growing doubts over the credibility of chartered accountants (CAs) post-Satyam scam very kindly. President of...
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In what may strain the already troubled relations between the Samajwadi Party and the Congress, the Income Tax (I-T) department on Wednesday moved the Supreme Court challenging a seven-month-old...
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In a major relief for India Inc, the National Advisory Committee on Accounting Standard (NACAS), a government-appointed body, has postponed the implementation of Accounting Standard 11 (AS 11) to...
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The taxman has finally caught up with expatriate employees. The Supreme Court today directed Indian subsidiaries of foreign companies employing expatriates to deduct tax at source on their entire...
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TRADE CIRCULAR Mumbai, Dt.25.03.2009, No..LTR-2009/ 1/Adm-29/ B-139 , Trade Cir. No. 11 T of 2009 Sub: Luxury Tax on luxuries provided in hotels from 1st May 2004 to 30th April...
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Payment for transfer of right to use software loaded on hardware – not a royalty; Making available other personnel to subsidiary under control and supervision – constitutes Service...
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Background The Mumbai Tribunal has recently held in the case of Schenectady Specialities Asia Pvt. Ltd. 1 that the difference between the sales tax collected but not deposited by the assessee with...
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Background In a recent ruling in the case of Punjab Financial Corporation ("the assessee")1, the Punjab and Haryana High Court ("the Court") held that credit for withholding tax ("WHT") would be...
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Revenue authorities have done banks a good turn towards the close of the financial year. By clarifying that the deposit insurance premium, collected by the Deposit Insurance and Credit Guarantee...
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SMS BASED SERVICE FOR CHALLAN STATUS National Securities Depository Limited (NSDL) provides CIN (Challan Identification Number) based view of direct tax challans to taxpayers to know the status of...
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The Income-Tax department is at loggerheads with the income Tax Appellate Tribunal (ITAT), the ultimate fact-finding body on tax disputes, over the latter's demand for verifying the reasons for...
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The Income-Tax department is mulling tax on carbon credit trade, estimated to yield for the exchequer an estimated Rs 1,000 crore. The I-T department's preliminary study has found that large...
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