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Archive: August, 2009

Posts in August, 2009

Empanelment for Chartered Accountants (CAs) in practice with Canra Bank for Concurrent Audit

August 8, 2009 5885 Views 0 comment Print

Canara Bank invites applications from the eligible/interested audit firms for empanelment as concurrent auditors for conducting concurrent audit in the identified 500 branches for the period from 01.10.2009 to 30.9.2010. Terms and conditions for appointment, fee structure, methodology for application/ selection, methodology for conducting audit/reporting and the methodology for review of performance of the auditors […]

SEBI asked finance ministry to revoke rule that bars SEBI officials sitting as members at the SAT

August 8, 2009 1008 Views 0 comment Print

Capital market regulator Securities and Exchange Board of India (Sebi) has asked the finance ministry to revoke a rule that bars Sebi officials sitting as members at the Securities Appellate Tribunal (SAT), which hears appeals against Sebi orders, a Sebi official said.

ITAT Mumbai Benches not functioning from 10.08.09 to 13.08.09

August 8, 2009 393 Views 0 comment Print

The following Benches will not function during the period 10.08.2009 to 13.08.2009:-“A1”, “B1”, “E1”, “J” & “WT”The cases are adjourned to respective dates. Please see seprete NoticeSd/-(M.A. Bakshi)Vice President(M)Mumbai, Dated : 06.08.2009

Settlement Applications not disposed for reasons not attributable to the applicant cannot be treated as having abated

August 8, 2009 577 Views 0 comment Print

S. 254 D (4A) was amended by the Finance Act 2007 to provide that if in respect of an application filed before 1.6.2007, the Settlement Commission did not pass a final order before 31.3.2008, the proceedings would abate. S. 245 HA (3) provided that the consequence of such abatement was that the income-tax authorities could, in making the assessment

Public Notice No. 193 (RE-2009)/2004-2009, Dated: 07.08.2009

August 7, 2009 331 Views 0 comment Print

In the statement of Standard Input Output Norms (SION) as contained in the Handbook of Procedures (Vol.2), 2004-2009, as amended from time to time, amendments/ corrections/ modifications at appropriate places as mentioned in ANNEXURE “A” to this Public Notice are made.

Public Notice No. 192 (RE-2009)/2004-2009, Dated: 07.08.2009

August 7, 2009 463 Views 0 comment Print

PUBLIC NOTICE NO: 192(RE: 2009)/2004-2009 In the statement of Standard Input Output Norms (SION) as contained in the Handbook of Procedures (Vol.2), 2004-2009, as amended from time to time, amendments/ corrections/ modifications at appropriate places as mentioned in ANNEXURE A to this Public Notice are made.

SEBI : Exit load-Parity among all classes of unit holders

August 7, 2009 496 Views 0 comment Print

The Mutual Fund may charge the load within the stipulated limit of 7% and without any discrimination to any specific group of unit holders. However, any change at a later stage shall not affect the existing unit holders adversely

Representation by BCA to FM on difficulties being faced/likely to be faced by Assessees while filing Return of Income

August 6, 2009 1050 Views 0 comment Print

Re:  Hardships and Practical Difficulties being faced/likely to be faced by Assessees while filing the Return of Income for A.Y.2009-10, in view of directions contained in CBDT Circular No.03/2009 Dated 21.05.2009 We refer to the CBDT Circular No. 03/2009 dated 21.05.2009 in connection with the filing of the Income Tax Returns for A.Y. 2009-2010. 

Government may soon clarify in respect of FBT paid for A.Y. 2010-2011

August 6, 2009 456 Views 0 comment Print

A mechanism may be on the anvil to help companies to reclaim the fringe benefit tax they had paid for the first quarter along with advance corporate tax, as the government goes about implementing the budget proposal to abolish the levy with retrospective effect from April 1, 2009. Companies may be able to seek a refund […]

Builder may not benefit from extension of tax waiver to affordable housing projects

August 6, 2009 543 Views 0 comment Print

The government’s decision to extend the time limit for claiming tax exemption on profit earned from projects may not give the desired benefits to real estate developers. Instead of giving benefits to ongoing projects, the government chose to extend a tax waiver to `affordable’ housing projects that were approved till March 31, 2008. The current provision […]

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