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Now CS, Cost Accountant and Others Can Be a Partner with CA

Institute of Chartered Accountants of India has issued a notification no. Na.1-CA(7)/116/ 2008 dated 25-9-2008 incorporating various amendment to the Chartered Accountants Regulations, 1988.There are 16 amendments to the regulations. One of the major amendments is provisions relating to multidisciplinary partnership firm....

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Posted Under: CA, CS, CMA |

DCA Proposes To Enable Companies to Hold the Board Meetings through Electronic Means

The Department has received proposals to allow such meetings and it has held extensive consultation with various shades of opinion. It also asked the Institute of Company Secretaries to examine this matter and to organize consultation with companies and other stake holders. Finally, the Department has decided to allow such meetings of the...

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Posted Under: CA, CS, CMA |

Sebi Removes Cap on Debt-Equity Investment Ratio for FIIS

SEBI has removed the restriction of the 70:30 ratio of investment in Indian equity and debt by FIIs. The removal is with immediate effect, said a statement from SEBI on Thursday. The necessary amendments to the regulations will be made in due course.This is to give flexibility to the FIIs to help avail themselves of the increased cumulati...

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Posted Under: CA, CS, CMA |

Certificate Course On International Financial Reporting Standards – ICAI

The International Financial Reporting Standards (IFRS) issued by International Accounting Standards Board (IASB) are gaining recognition as Global Reporting Standards. The Council of the Institute of Chartered Accountants of India, while appreciating the emerging diversities and complexities in the world of accounting and the need for kno...

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Posted Under: CA, CS, CMA |

Remove VAT on Perishable Goods, Centre Tells States

Union Minister of State for Food Processing Industries Subodh Kant Sahai today urged the states to remove Value Added Tax (VAT) on perishable goods and peg it below four per cent on non-perishable items to encourage food processing industry. Around 15 companies have already brought in 106.4 million US dollar foreign direct investments int...

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Posted Under: CA, CS, CMA |

Now E- Form 23AC Can Be Filled In Without Getting SRN of Form 23B – Instruction Kit Revised

Now e- form 23AC can be filled in without getting SRN of form 23B The Ministry of Corporate Affairs (Ministry) has revised e-form 23AC effective from 28th September 2008 wherein filling in SRN of 23B was made compulsory. In many a cases, it was reported by our members that SRN of form 23B was not available which ultimately resisted to fil...

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Posted Under: CA, CS, CMA |

Tax-Free Limit on Post Office Saving Scheme May Be Increased Soon

The subscribers of the post office savings scheme, which attracts tax-free interest accrued on deposits of Rs one lakh and Rs three lakh on single and joint accounts respectively, may have a reason to cheer soon. The finance ministry is closely looking at a proposal for upward revision of the tax-free interest deposit limit. ...

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Posted Under: CA, CS, CMA |

Madras High Court Stays National Tax Tribunals Act

The Madras High Court has stayed National Tax Tribunals Act 2005, that provides for formation of National Tax Tribunals (NTTs) to hear appeals against orders of Income Tax Appellate Tribunals.The First Bench, comprising Chief Justice A.P. Shah and Justice Prabha Sridevan, granted the interim stay after admitting a writ petition filed by t...

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Posted Under: CA, CS, CMA |

Centre May Amend AS21 to Plug Gaps in Accounting Practices

The government may amend an accounting norm that gives certain exemptions to companies from consolidating the balance sheets of subsidiaries with that of the parent under certain circumstances. The idea is to ensure that companies do not take undue advantage of the exemption and give an unrealistic picture of their financial health. Maki...

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Posted Under: CA, CS, CMA |

Income Tax Grievances to Be Registered Online

Tax payers will now be able to lodge their grievances with the taxman at the click of a mouse, with the launch of an online complaint redressal mechanism on the lines of the existing e-filing facility of tax returns. ...

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Posted Under: CA, CS, CMA |
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