The ICAI’s proposal to restrain foreign firms from joining hands with Indian auditing companies has brought some relief to local chartered accountants. They observe that this proposal will put an end to the monopoly of the big four (Ernst and Young, Pricewaterhouse, KPMG and Deloitte) which has been a matter of concern to them for […]
India’s Supreme Court has given the country’s financial markets regulator permission to question Ramalinga Raju, the founder of Satyam Computer Services (SATY.BO), which is at the centre of the country’s biggest corporate scandal, court officials said on Tuesday. The court said officials from the Securities and Exchange Board of India (SEBI) could interrogate Raju and […]
In exercise of the powers conferred by clauses (a) and (b) of subsection (1) of section 610C of the Companies Act, 1956 (1 of 1956), the Central Government hereby directs that.
Jitendra Kumar Mohala could be suffering from what psychiatrists call a frustration aggression syndrome. Mohala was arrested on Sunday night and sent to jail for 14 days for creating a hijack scare on an Indigo flight, leading to a security crisis at IGI airport. Mohala, a 42-year-old CA from Dwarka and son of a retired […]
Why did Jitendra Kumar Mohala, a 42-year-old chartered accountant and the son of a retired air commodore, go berserk while travelling on IndiGo’s Goa-Delhi flight on Sunday afternoon? Mohala had claimed to be an armed hijacker from a terror outfit and had subjected the flight crew to a torrent of terror talk. While investigators are […]
SSN Moorthy, a 1973 batch IRS officer, was on Saturday appointed as the new chairman of the Central Board of Direct Taxes. He replaces NB Singh. Prior to his new assignment, Moorthy was a member in CBDT from August 2008. The government also appointed Sudhir Chandra, a 1973 batch IRS, in the CBDT as a […]
1.0 It has been decided to amend certain clauses in the Equity Listing Agreement to enhance disclosures regarding shareholding of promoters and promoter group. Accordingly, this circular is issued in exercise of powers conferred by subsection (1) of Section 11 of the Securities and Exchange Board of India Act, 1992, to protect the interest of investors in securities and to promote the development of, and to regulate the securities market. The details of amendment are as under:
The principal notification No.66/2008-Customs, dated the 10th May, 2008 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R.359(E) of the same date and was last amended vide notification No.115/2008-Customs, dated the 31st October, 2008, which was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 759(E) of the same date
In terms of the provisions of Section 75 (1) of the Customs Act, 1962 read with sub-rule 16A (1) of the Customs, Central Excise Duties and Service Tax Drawback Rules, 1995, where an amount of drawback has been paid to an exporter but the sale proceeds in respect of such export goods have not been realized within the time allowed
Facts- The assessee had not debited current year depreciation to the profit and loss account but had disclosed this fact and the quantum of depreciation in the notes appended to the accounts.
