India Inc is against rotation of auditors every few years. At a closed-door meeting with Sebi chairman CB Bhave, nearly 45 top honchos expressed their opposition to this move, being demanded by foreign institutional investors (FIIs). The attendees included K V Kamath, Uday Kotak, Mihir Doshi and U K Sinha.
YESTERDAY was a red-letter day for the Indian Income Tax Department. It was an important day from the taxpayers’ angle as well. If the Netizens are thinking in terms of any tax relief, then they need to take a close look at the concept of relief. A fiscal relief is certainly a welcome news even for taxmen in their capacity as taxpayers.
(iii) Even in the case of the assessee, the department is accepting the earning of income albeit on a different footing i.e. claiming the same to be salary income in contra distinction to assessee’s claim being business income by virtue of Section 28(va). Though reference is made to colourable devise in the hands of the assessee following Supreme Court judgment in the case of McDowell &. Co. (supra), the same confine
It is also brought to the notice of all concerned that vide this Notification transitional arrangement available under Para 1.5 of FTP have not been stopped. Thus, the transitional arrangements in respect of items whose import has been prohibited vide the said Notification shall continue. Similarly, where the import shipment has been made prior to the date of issue of this Notification, as per Para 9.11A of HBP- vI, those imports may also be allowed.
The new chief executive officer of fraud-hit Satyam Computer Services sold 40,000 shares of the company in the days before the previous board’s aborted decision to buy two related firms, stock exchange data shows. A.S. Murty was named chief executive with immediate effect by the new government-appointed board on Thursday, Satyam said in a statement […]
After a crucial two-day board meet, the six-member Satyam Computer Services board appointed by the government named AS Murty as the new Chief Executive Officer of the beleaguered firm. AS Murty was formerly, Head, Delivery and Leadership Development of Satyam.
A minimum flat fee of Rs 1000 per successful bid shall be levied for the allocated amount. Thus the amount payable by the successful bid shall be minimum flat fee of Rs 1000 or bid price which ever is higher.
The Income Tax Department, one of the investigating agencies probing the Satyam fraud case, has asked the Hyderabad Police for documents related to purchases and investments by the firm’s former Chairman Ramalinga Raju.
Minister of corporate affairs Prem Chand Gupta on Wednesday stressed on the need for greater steps by the Institute of Chartered Accountants of India (ICAI) in restoring the confidence of investors and shareholders, which has been affected in the wake of the Satyam accounting fraud. “What is required is further measures to restore public confidence,” […]
CA AMAR JIT CHOPRA-AN INTRODUCTION : COUNCIL MEMBER FROM NIRC Mr. Amarjit Chopra did his post graduation in commerce from Delhi University in 1973. He qualified as a Chartered Accountant in the year 1975 and since then has been in practice as a senior partner of G S A & ASSOCIATES, (formerly known as Surendar […]
