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Archive: 21 May 2009

Posts in 21 May 2009

Want Income Tax Refund Faster – Opt for ECS

May 21, 2009 13783 Views 5 comments Print

Get your income tax refund faster by opting for ECS through the Refund Banker Scheme. Learn about the pros and cons of this innovative scheme.

Are Independent directors really independent?

May 21, 2009 1185 Views 0 comment Print

More than seven of 10 independent directors sitting on the boards of listed companies to improve corporate governance are “home” members, while only few women make it to such positions, says a study.”Nearly 75 per cent of all independent directors are ‘home’ members who are natural allies of the promoters are not independent in any […]

Power to condone delay beyond 180 days by High Court

May 21, 2009 715 Views 0 comment Print

I may invite your attention to the Supreme Court’s Larger Bench judgement in the case of Commissioner of Customs & Central Excise Vs. Hongo India Pvt. Ltd. [2009 (236) E.L.T 417 (S.C)] wherein it has been held that the High Court has no power to condone the delay in filing the “reference application” filed by the Commissioner under unamended Section 35H(1) of the Central Excise Act, 1944 beyond the prescribed period of 180 days. The Board has taken up the matter with Law Ministry for filing Review Petition in the Supreme Court.

“Error 96” cases and their online validation under DEPB Scheme

May 21, 2009 280 Views 0 comment Print

In case the DEPB Entry Serial Number is changed by the Regional Authority, thereby reducing or retaining the DEPB rate at the same level as that endorsed in the shipping bill, the matter need not be brought before DEPB Committee, and such DEPBs will be sent with Flag ‘M’ by DGFT Hqrs and accepted by the Customs authorities.

ICAI started Project Parivartan with the help of Infosys

May 21, 2009 918 Views 0 comment Print

18th May 2009 My dear Members and Students, The new millennium is upon us and the changes sweeping across the globe are dramatic indeed. ICAI has progressed steadily into the new millennium. I am keen to take ICAI into the next level by adopting the latest Digital Technology to make the entire organization and its […]

Fraud detection cell of ICAI to be operational by July 2009

May 21, 2009 624 Views 0 comment Print

ICAI expect its fraud detection cell to come into operation by July 2009, to handle cases like the `Satyam case’, said Uttam Prakash Agarwal, ICAI President. The cell would crack large financial fraud cases and help agencies like Securities and Exchange Board of India and Reserve Bank of India. The cell’s objective would be to […]

ICAI President written letter to govt. for Empowerment of visually challenged Chartered Accountants

May 21, 2009 888 Views 0 comment Print

We are producing below the copy of letter written by ICAI President CA. UTTAM PRAKASH AGARWAL  to Honourable Secretary to the Govt. of India Shri. Shri K.M. Acharya in respect of Empowerment of visually challenged Chartered Accountants. May, 20th 2009  Ref No. No.1-CA(RepCom) /2009 Shri K.M. Acharya, Secretary to the Govt. of India, Ministry of Social Justice & Empowerment, Shastri Bhawan, Dr. Rajendra Prasad […]

ICAI announced again the rules related to transfer of Articles and Timing of Coaching Classes

May 21, 2009 37039 Views 95 comments Print

IMPORTANT ANNOUNCEMENT  (Transfer of Articles – (19-05-2009) The following decisions taken by the Council of the Institute are brought into force immediately for compliance by the Students / Members concerned. It is advised that required compliance be made by the concerned students / members. It may please be noted that non-compliance will be viewed seriously […]

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