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Archive: 28 July 2009

Posts in 28 July 2009

Postmortem of Union Budget 2024: A Comprehensive Webinar

July 18, 2024 5091 Views 3 comments Print

Join our webinar on July 24-25 for an in-depth analysis of Union Budget 2024. Learn about tax proposals, sector impacts, and investment insights. Register now!

Live Course on 360 degree Analysis of Input Tax Credit from a Litigation Perspective

July 18, 2024 4389 Views 0 comment Print

Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC complexities. Register now!

Finance bill for 2009-10 gets approval of Lok Sabha

July 28, 2009 628 Views 0 comment Print

The Lok Sabha has passed the Finance Bill for 2009-10 by a voice vote on Monday, Finance Minister Pranab Mukherjee has said that economic recovery has begun and India would achieve 8-9 pc economic growth by the end of 2010. Finance Minister Pranab Mukherjee has announced a slew of concessions, including one pc interest subsidy for […]

Insider trading norms not applicable to ESOPs

July 28, 2009 1568 Views 0 comment Print

Market regulator SEBI has clarified on the interpretation of certain amendments in the insider trading norms, in response to a few queries from companies. The regulator said the six-month restriction for directors and employees to transact in shares of a company is only intended for trading on stock exchanges and not applicable to the exercise […]

Stock brokers need to settle the balance funds/securities lying in the trading accounts of clients on the last day of every month

July 28, 2009 279 Views 0 comment Print

AFTER numerous complaints of rampant misuse, the Securities and Exchange Board of India (Sebi) has proposed that stock brokers must settle the balance funds/securities lying in the trading accounts of clients on the last day of every month.Brokers must also send monthly statements to clients, and in case of a dispute, clients will have to […]

Government planning to include the concept of class action suit in new Companies bill

July 28, 2009 607 Views 0 comment Print

With lessons from the multi-crore rupee Satyam fraud case, the government is planning to include the concept of class action suit in new Companies bill, likely to be introduced in the current session of Parliament, to help investors claim damages from fraudulent companies.

Lami Nagar road in East Delhi renamed as Chartered Accountant’s Lane

July 28, 2009 498 Views 0 comment Print

Mukherjee Nagar in north Delhi is home to a large number of civil service aspirants. Katwaria Sarai is preferred by students trying to crack the engineering and medical entrance exams. And chartered accountants? Well they seem to prefer Laxmi Nagar in east Delhi. So much so that the stretch between Laxmi Nagar and Mother Dairy crossing was recently renamed Chartered […]

Cheers! Mvat rate on wine in Maharashtra reduced to 4%

July 28, 2009 1595 Views 0 comment Print

Maharashtra government has given into the demand from various quarters including farmers and slashed the VAT back to 4% from the recent increase to 25% while the imported wines will attract the duty of 20% instead of 25%. The decision was taken at a special cabinet meeting convened Wednesday in Nashik. A decision was also taken […]

I-T department started scrutinising returns of charitable trusts

July 28, 2009 391 Views 0 comment Print

In a move that could lead to some charitable trusts losing their registration, the income-tax (I-T) department has started scrutinizing the returns they had filed earlier, two officials said. This follows a government directive last year to these trusts to pay income tax on the revenue they earn from commercial activities. “Since not many trusts […]

ICAI asked government to mandate all companies to file their financial statements in XBRL format

July 28, 2009 676 Views 0 comment Print

Domestic companies may soon have to file financial statements in a computerised format to enable easy flow of information between regulators and facilitate comprehensive financial data analysis. In a letter to the ministry of corporate affairs, the Institute of Chartered Accountants of India (ICAI) has asked the government to mandate all companies to file their […]

Additional Information/AIR transaction details need to be disclosed in ITR

July 28, 2009 5706 Views 0 comment Print

The income tax return filing process requires that a lot of information be provided to the tax authorities. Most people gear up by ensuring they have collected all the details necessary for ensuring the correct income is shown and the right deductions are available. This is not enough, as individuals need to ensure there is some […]

RBI expcted to keep key policy rates unchanged in the monetary policy review

July 28, 2009 306 Views 0 comment Print

The Reserve Bank of India might change its bias towards softening interest rates into a more cautious outlook but is expected to keep key policy rates unchanged in the monetary policy review on Tuesday. At the same time, banking sources close to the development said the central bank could raise its growth target from 5-6 per cent […]

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