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Archive: May, 2009

Posts in May, 2009

ICAI raised doubt on accuracy of audited financial statements of Allahabad Bank, Vijaya Bank and the Central Bank of India

May 8, 2009 1738 Views 0 comment Print

The Institute of Chartered Accountants of India (ICAI) has raised apprehensions about the accuracy of the audited financial statements of Allahabad Bank, Vijaya Bank and the Central Bank of India, saying the statutory auditors were under pressure from these banks to complete the audits within unreasonable deadlines. The accounting rule-maker, which is facing flak after […]

CAG plans to move from cash to accrual basis accounting

May 8, 2009 2339 Views 0 comment Print

THE Comptroller and Auditor General of India (CAG) plans to move from cash to accrual basis accounting in government within a five year time frame. A National Round Table Conference on Accrual Basis Accounting was held in CAG office yesterday. The Conference, convened by Government Accounting Standards Advisory Board (GASAB) of CAG of India, deliberated […]

PWC asked staff to take unpaid leave to cut costs: Here's how you can do it too

May 8, 2009 571 Views 0 comment Print

Patrick Stafford Accounting giant PricewaterhouseCoop ers has asked 5000 full-time staff to take up to three weeks of unpaid leave in an attempt to save costs. Chief executive Mark Johnson said in an email to staff that the requests are a “temporary initiative to respond to temporary times”, and that redundancies are a last resort.

Notification No. 104 (RE-2009)/2004-2009, Dated: 06.05.2009

May 6, 2009 376 Views 0 comment Print

In exercise of the powers conferred by Section 5 read with Section 3(2) of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) and also read with Para 1.3 and Para 2.1 of the Foreign Trade Policy, 2004-2009, the Central Government hereby makes, with immediate effect, following amendments to Notification No.93(RE-2007)/2004-2009 dated 1st April, 2008 as amended from time to time.

Notification No. 49/2009-Customs (N.T.) Dated: 06.05.2009

May 6, 2009 478 Views 0 comment Print

In exercise of the powers conferred by sub-section (1) of section 4 and sub-section (1) of section 5 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby appoints the Commissioner of Customs, The Mall, Amritsar to act as a common adjudicating authority to exercise the powers and discharge the duties conferred or imposed on the Deputy/Assistant Commissioner of Customs, Inland Container Depot, Tughlakabad, New Delhi for the purpose of adjudicating the matters relating to Show Cause Notice pertaining to M/s Maya Enterprises, 196, Industrial Area, Phase – II, Chandigarh and another issued vide, F.No. 856)22)/LDH/2006/Pt-I12-15, dated the 5th January, 2009, by the Additional Director General, Directorate of Revenue Intelligence, 6th Floor, Paryavaran Bhawan, C.G.O.Complex, Lodhi Road, New Delhi.

Notification No. 48/2009-Customs (N.T.), Dated: 06.05.2009

May 6, 2009 616 Views 0 comment Print

In exercise of the powers conferred by sub-section (1) of section 4 and sub-section (1) of section 5 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby appoints the Commissioner of Customs and Central Excise, Hyderabad-II Commissionerate, Hyderabad to act as a common adjudicating authority to exercise the powers and discharge the duties conferred or imposed on the Joint Commissioner of Customs, O/o the Commissioner of Customs (Import), Jawaharlal Nehru Custom House, Nhava Sheva, Raigad, Maharashtra for the purpose of adjudicating the matters relating to Show Cause Notice pertaining to M/s Subishi Traders, Plot No. 69/A, E.S Mansion Temple Rock Enclave, Tadbund ‘X’ Roads, Secunderabad – 500 009 and others issued vide, F.No. VIII/26/06/2008-HRU, dated the 1st August, 2008, by the Additional Director General, Directorate of Revenue Intelligence, Zonal Unit, Chennai.

Notification No. 47/2009-Customs Duty (N.T.), Dated: 06.05.2009

May 6, 2009 436 Views 0 comment Print

for the purpose of adjudicating the matters relating to Show Cause Notice pertaining to M/s. PTC Industries Limited, Malviya Nagar, Aishbagh, Lucknow – 226004 issued vide, DRI F.No. VIII(26)02/LZU/2008, dated the 30th September, 2008, by the Additional Director General, Directorate of Revenue Intelligence, Lucknow Zonal Unit, 2/31, Vishal Khand, Gomti Nagar, Lucknow – 226010.

Notification No. 46/2009 -Customs Duty (N.T.), Dated: 06.05.2009

May 6, 2009 544 Views 0 comment Print

For the purpose of adjudicating the matters relating to Show Cause Notice pertaining to M/s Mateshwari Textiles, Gali Ki Ret, Badi Basti, Puskar District Ajmer (Rajsthan) and others issued vide, F.No. 23/31/07-DZU, dated the 23rd June, 2008, by the Additional Director General, Directorate of Revenue Intelligence, Delhi Zonal Unit, New Delhi.

Amends Notification No. 94/2008-Customs Duty (N.T.), dated 25th July, 2008

May 6, 2009 427 Views 0 comment Print

In exercise of the powers conferred by sub-section (1) of section 4 and sub-section (1) of section 5 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby makes the following amendment in the notification number 94/2008-Customs(N.T.), dated 25th July, 2008 published in the Gazette of India Part II section 3 sub-Section (ii), vide number S.O. 1853 (E) dated the 25th July, 2008, of the Government of India, Ministry of Finance (Department of Revenue) namely.

ICAI sought Clarification regarding new Form No.17 – from CBDT

May 6, 2009 1545 Views 0 comment Print

THE PRESIDENT ICAI has written letter dated 5th May, 2009 , to The Chairman, CBDT and sought clarification on Clarification regarding new Form No.17. Respected Sir, Sub: Clarification regarding new Form No.17 The Income-tax Rules relating to time and mode of payment to Government account of – (1) tax deducted at source; or (2) tax paid under Chapter XVII-B; […]

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