UPDATES FROM TAXGURU 03.10.2009

UPDATES FROM TAX GURU (in this message: 7 new items)

Link to LEGAL & FINANCIAL  UPDATES FROM TAX GURU

Establishment of Branch (BO) / Liaison Offices (LO) in India by Foreign Entities — Delegation of Powers

Posted: 02 Jan 2010 06:55 PM PST

Attention of Authorised Dealer Category – I banks is invited to Notification No. FEMA 22/2000-RB dated May 3, 2000 viz. Foreign Exchange Management (Establishment in India of Branch or Office or other Place of Business) Regulations, 2000 as amended...

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Remuneration payable to the Statutory Central and Branch Auditors of Public Sector Banks from the year 2006-07

Posted: 02 Jan 2010 06:40 PM PST

The matter regarding assignment of the tax audit work to one of the SCAs and fee payable to SCA so selected was reviewed and it has been decided that PSBs may appoint at the Head office level also any chartered accountant firm as their tax auditor...

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Many Companies following financial year from January-December extended their accounting period to follow April-March cycle

Posted: 02 Jan 2010 06:32 PM PST

An increasing number of companies are extending their accounting period to facilitate the change in financial year from January-December to the commonly-followed April-March cycle. By doing so, the companies would be required to publish balance...

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ICAI president message on Synergy with C&AG, New Branches, Membership Restoration, Student Initiatives, Training of Articled Assistants Abroad, Form 112, IFRS Convergence, Companies Bill, 2009 etc

Posted: 02 Jan 2010 06:28 PM PST

Its that time of the year when we are busy reflecting on our past and setting new goals for our future. Its that time of the year when fresh resolutions are being listed and plans for achieving greater prosperity are being inked. Welcome to 2010 ...

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CVC advised initiations of major penalty proceedings against 113 officers

Posted: 02 Jan 2010 06:22 PM PST

THE Central Vigilance Commission disposed of 416 cases during October 2009 referred to it for advice. The Commission advised initiations of major penalty proceedings against 113 officers. Of these, 32 were from public sector banks, 27 from M/o...

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"Corporate Governance" – Corporate Law – An Understanding?

Posted: 02 Jan 2010 01:27 AM PST

Company Law is very complicated and interesting subject. If we look at all the corporate regulations or law, it is very clear that it focuses mainly on the interests of the shareholders. The liability of the members is limited in limited companies...

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Background and summery of Companies Bill 2009

Posted: 02 Jan 2010 01:15 AM PST

The Ministry of Corporate Affairs took up a comprehensive revision of the Companies Act, 1956 (the Act) in 2004 keeping in view that not only had the number of companies in India expanded from about 30,000 in 1956 to nearly 7 lakhs, Indian companies...

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With Regards, 
CA Sandeep Kanoi 
Website: http://www.taxguru.in/ 
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UPDATES FROM TAXGURU