News on Tax, Corporate Law, Recent Judgement, Govt Policy

Brushing aside fears that it was sacrilegious to criticise established accounting standards in a room packed with hundreds of chartered accountants, Gautam Doshi, group managing director of Reliance-Anil Dhirubhai Ambani Group, decided it was time to turn the tables. Full Article

The survey carried out by sleuths of the Income Tax Department on the Greater Mohali Urban Development Authority (GMADA) on Thursday has revealed that the GMADA has failed to deposit timely advance tax instalments on receipts exceeding Rs 150 crore o Full Article

The Vasai Branch of the Western India Regional Council of the Institute of the Chartered Accountants of India conducted a seminar on ITAT Proceedings & Mock Tribunal on 21 November 2010. The idea to hold such a seminar was the brainchild of the Secre Full Article

Oriental Bank of Commerce (OBC) on Friday commenced the enrolment process for issuance of unique identification number (Aadhaar) for its customers and staff of the bank. The enrolment process which has begun at the head office will move in phases to Full Article

With some top officials being accused of indulging in corruption, FM Pranab Mukherjee has selected two officers of the revenue services with a `no nonsense' approach to head the two revenue boards that control the country's top revenue agencies. Full Article

The income-tax department has made seizures worth Rs 413.7 crore during the current fiscal till October, registering a growth of 17.1% over the corresponding period of the last year, which was at Rs 353.31 crore The seizures include Rs 271.9 crore in Full Article

To intimate discrepancy if any found in show cause notice by MCA. Show-cause Notices were issued to a number of defaulting companies. Ministry has undertaken a massive drive to cleanse the MCA21 Registry, as it was found that a number of companies who were in the old Registry are not filing their documents in the MCA21 system. Accordingly, computer generated Show-cause Notices were Full Article

There is a ban on import of second hand computers and computer peripherals now. As per Ministry of Commerce’s Handbook of Procedures Vol. 1 (2009-14), import of second hand computers including personal computers/ laptops and refurbished/reconditioned Full Article

More trouble seems to be in store for telecom minister A Raja, with the income-tax department resuming a probe on whether his ministry was involved in any irregularity while allocating the 2G spectrum to new players. According to an official of the Full Article

Empanelment of Chartered Accountant firms for Audit of Urban Co-operative Banks of Maharashtra.(Last Date 25th November, 2010)1. Only those Maharashtra based partnership firms which are there in the Bank Branch Auditor’s Panel 2010-11, are eligible to apply. To check your eligibility, pl visit www.meficai.org Full Article