Finance - Page 326

Popularisation of project “FCRA Online Facility for prior permission cases”

Public, in general, and the NGOs and professionals, in particular, are hereby informed that this facility has been made mandatory w.e.f. 01.08.2008 to facilitate associations to file their applications for prior permission to accept foreign contribution under the Foreign Contribution (Regulation) Act, 1976, online, on the Ministry of Home...

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Energy audit in tea factories

In the first instance, 15 bought-leaf tea factories in Nilgiris have applied for energy audit under the energy conservation project launched by Tea Board in co-operation with United Nations Development Programme’s Global Environment Facility and implemented by Technology Informatics Design Endeavour (TIDE). ...

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CLB likely to replace BIFR

Sick industrial units may no longer have to wait for decades for the authorities to decide whether they should be revived or liquidated. To fast-track the determination of industrial sickness of enterprises, the government is planning to expand the scope of the Company Law Board (CLB) to assess whether a sick unit should be liquidated or ...

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MoF revises ECB policy; enhances USD 20 mn limit to USD 50 mn for Rupee expenditure

*HAVING reviewed the External Commercial Borrowing (ECB) in* in consultation with Reserve Bank of India (RBI) to keep it in tune with the evolving macroeconomic situation, changing market conditions, sectoral requirements, the external sector and lessons of experience, the Ministry of Finance today enhanced the limit to USD 50 mn for Rupe...

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Notification on Accounting Standards by the Central Government under The Companies Act, 1956

The Government recognises the importance of financial reporting in providing essential financial information about the company to its shareholders and other stakeholders, as an integral and important part of good corporate governance. Such information needs to be reliable, free from bias and should enable comparison on the basis of common...

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Advocates cant audit, only CAs/cost accountants can

The Supreme Court today said that only chartered or cost accountants will be eligible to audit and certify sales tax returns in bid to prevent evasion. The decision would affect the lawyers specialising in Sales Tax laws and former Sales Tax officers who work as sales tax practitioners....

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SC rules provident fund subscriber is ‘consumer’

The Supreme Court has held that services rendered by the office of Regional Provident Fund Commissioner of the Employees Provident Fund Organisation will fall within the ambit of ‘service’ under the provisions of Consumer Protection Act (1986) and the subscriber under the Provident Fund scheme is a ‘consumer’ under this Act....

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Compliance Calendar under Various Statutory Laws in India

Compliance Calendar under Direct Tax Laws. Compliance Calendar under Indirect/Corporate & Labour Laws. Payment of monthly dues of Provident Fund. Monthly return in Form 5 for employees joining Provident Fund during previous month along with declaration in Form 2 furnished by the employees. Monthly return of PF in Form 10 of employees lea...

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No word yet on commodity transaction tax

There appears to be uncertainty over the implementation of the Commodity Transaction Tax from April 1 with broking firms saying the exchanges have not notified them on the issue till late Monday evening. The Finance Minister, Mr P. Chidambaram, had announced in his Budget proposal that the levy would come into effect from April 1. Mr B....

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What attestation of a deed means?

The Attestor attesting witness must sign the deed or document concerned in the presence of the Executant.One of the factors which is not considered to be important in the course of execution and registration of deeds is attestation of deeds. In respect of deeds which are being registered, many parties regard this as a formality. The gener...

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