"December, 2008" Archive - Page 5

Multipurpose Empanelment Form (MEF) – Information regarding association with Public Sector Banks

If you have accepted any concurrent audit, directorship in banks, taking loans from banks, after fiiling of MEF for 2008-09, you have to file form given in the below link so that statutory audit of that bank will not be alloted to you but other bank can be allotted....

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Posted Under: CA, CS, CMA |

No Penal Action On Electronically Filed IT Returns Bearing Acknowledgement Date Stamp of 1st October 2008

The Central Board of Direct Taxes have ordered that any return of income for the assessment year 2008-09 filed electronically on 30 th September 2008, in respect of which the electronic acknowledgement bears the date stamp of 1 st October 2008, shall be treated as having been filed within the due date, i.e. 30 th September 2008....

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Posted Under: CA, CS, CMA |

ICAI mulls educational TV channel

ICAI is considering broadcasting 12 hour of programming a day for students and its members. It may be mentioned here that CA professionals have to take mandatory 20 hours of training every year. We feel that with increasing base of membership and students in India and overseas we need to have a mass medium. Our own channel will enable us ...

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Posted Under: CA, CS, CMA |

ICAI Awards 2009 Corporate Awards

Do you wish to nominate any leader for the Corporate Awards? These awards are instituted to acknowledge Chartered Accountants in industry who have demonstrated excellence in the way in which they conduct their profession, are exemplary role models in the industry and have created value to their company's stakeholders on a sustainable basi...

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Posted Under: CA, CS, CMA |

Your Mobile Phone will be Banned in 2009 if it doesnt have IMEI Number

This is what DOT has told to the government that any phone which doesn’t have a valid IMEI Number will be banned starting next year think they started with a date of Jan 6th and may be they will move that or extend it to March 2009. This means 13 percent of the Chinese and Korean mobile phones which either doesn’t have a valid IMEI nu...

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Posted Under: CA, CS, CMA |

Internet connections will be slow till December 26

Slow internet connections will continue till Friday, even as restoration work on two cables out of the three that had severed a few days ago is under way. In India, the latency will continue till the end of the week, even for customers who have opted for redundancy bandwidth. For those who did not opt for redundancy bandwidth, the latency...

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Posted Under: CA, CS, CMA |

Bad asset norms may be relaxed

The Reserve Bank of India has started a review of the non-performing asset or bad loan classification norms to ease the flow of credit to corporate groups. The move follows a reference from the government and is aimed at relaxing the norms temporarily to enable companies to access funds during the economic downturn that is putting pressur...

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Posted Under: CA, CS, CMA |

No plans to ban futures in more commodities – Finmin

The government said on Tuesday it has no proposal to ban futures trading in more commodities. Since the Abhijit Sen Committee could not establish any definite causal relationship between futures trading and rise in prices of commodities, there is no proposal to ban futures trading in more commodities, minister of state for finance P K Ban...

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Posted Under: CA, CS, CMA |

New tax code to stop treaty shopping

The government may introduce provisions in the new direct tax code to prevent misuse of double taxation avoidance agreements India has with other countries. The new code is likely to be unveiled before the year ends. A government official said a discussion paper on the code, a major initiative undertaken under the guidance of the former f...

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Posted Under: CA, CS, CMA |

Companies (Central Government's) General Rules and Forms (Sixth Amendment) Rules, 2008 (Notification of revised Forms 21 & 23)

Notification No. G.S.R. 872(E) (23/12/2008)

In exercise of the powers conferred by sub-section (1) of section 642 read with section 6108 of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following rules to amend the Companies (Central Government's) General Rules and Forms, ...

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