Public sector companies can now seek advance ruling on Customs, Central Excise and Service Tax matters. Also, Indian companies (those considered as resident under the Income-Tax law) have now been allowed to seek advance ruling on project imports. The Center’s move to extend the advance ruling facility to public sector companies comes nearly a decade […]
The Central Vigilance Commission (CVC) has charged the chartered accounting fraternity with giving erroneous advice to banks resulting in huge losses for the lenders. It has pointed out that in several cases, the advice given by CAs to banks and financial institutions was deficient, especially regarding the status of loans, creditors, sundry debtors, assets, known […]
Any sum received under a life insurance policy including any bonus thereon will be exempt, only if the premium does not exceed 5% of the capital sum assured and such sum is received only upon completion of the original period of contract or upon the death of the insured.
It’s Traditionally been viewed as a retirement saving tool and one that allows you to avail of tax deductions. In fact, you will find that most conversations about provident funds only take place during the income-tax filing season, or when salaried individuals are retiring or leaving one organisation for another. In fact, fairly little is […]
Paragraph 83 of the Standard on Quality Control (SQC) 1, Quality Control for Firms that Perform Audits and Reviews of Historical Financial Information, and Other Assurance and Related Services Engagements, states as follows: “83. The needs of the firm for retention ………………. ……………… In the specific case of audit engagements, the retention period ordinarily is no shorter than […]
The existing fee of Rs.3,500 for registration for the Common Proficiency Test(CPT) has been increased to Rs.6,000. The increased fee is payable by the students registering for the CPT on or afterSeptember 1, 2009.
Easily view your tax credit online: check the advance tax paid and TDS deducted by registering for this convenient service.
The scheme aims at establishing a large number of micro enterprises in the rural areas. The list of Below Poverty Line (BPL) households identified through BPL census duly approved by Gram Sabha will form the basis for identification of families for assistance under SGSY.
