"November, 2009" Archive - Page 3

Compliance to be insured by ICAI election candidates , their authorised representatives and by members of ICAI

Compliance to be ensured by candidates, their authorised representatives/supporters/volunteers, in particular, and members of the institute, in general, within as well as outside the zero tolerance zone in relation to polling booths set up....

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Posted Under: CA, CS, CMA |

Whether the ITAT was correct in law in deleting the addition of interest income from FDRs amounting to Rs.6,85,624/- under the head “Income from Other Sources” by treating it as business income

CIT, Delhi Vs M/s. Mereena Creations (Delhi High Court)

In the present case the assessee had taken loans from the bank on which the interest was paid and as a security for those loans, FDRs in question were kept with the bank and, therefore, the assessee was entitled to the netting of interest for the interest income and expenses thereto. This is also categorically answered in Shri Ram Honda (...

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Procedure for seeking clarification on policy issues relating to SEZ Act and Rules from Department of Commerce

SEZ: Instruction No. 43 23/11/2009

Meetings of all Zonal Development Commissioners under the chairmanship of AS(SEZ) would be held after BOA meeting in the Department of Commerce to discuss and clarify policy matters which required further discussion. Therefore, if Zonal DCs need any clarifications on SEZ Policy issues, they may bring up such matters along with full detail...

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Guidelines for consideration of proposals for authorized operations by the BoA

SEZ: Instruction No. 42 18/11/2009

It has been noted that developers/co-developers have been seeking permission of the BoA for carrying out such authorized operations, which are already covered in the default list of authorized operations, the powers for which have already been delegated to the DC’s/UAC’s. This results in the waste of precious time of the BoA....

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Practical guide to documentation for audit ,peer review, Financial Review and other assurance services

The word “document” is used to refer to a written or printed paper that bears the original, official, or legal form of something and can be used to furnish decisive evidence or information. “Documentation” refers to the act or an instance of the supplying of documents or supporting references or records....

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Posted Under: CA, CS, CMA |

Internal Audit of treasury

A treasury can be : the part of a government which manages all money and revenue.the funds of a government or institution or individual.the government department responsible for collecting and managing and spending public revenues . depository (a room or building) where wealth and precious objects can be kept.he center of financial operat...

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Posted Under: CA, CS, CMA |

Inspection & Investigation under Companies Act, 1956

Investigation under Section 235:-Investigation is the act of determining whether criminal matters such as employee theft, securities fraud (including falsification of financial statements), identity theft, and insurance fraud have occurred. ...

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Posted Under: CA, CS, CMA |

Highlights of Sarbanes- Oxley Act of 2002

Senator Paul Spyros Sarbanes in his capacity as Chairman of the Senate Banking, Housing, and Urban Affairs Committee, held a series of comprehensive hearings resulting in the passage of a bi-partisan bill designed to reform the accounting industry and restore the investor confidence. “The Public Company Accounting Reform and Investor Pr...

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Posted Under: CA, CS, CMA |

Deloitte will treble its India headcount

International accounting and consulting firm Deloitte will treble its India headcount from the current 11,000 and shift more of its top talent to the country over the next four years, a company official said. James Brady, CEO of Deloitte's assurance and risk assessment services, said the company has identified India as a 'high priority ma...

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Posted Under: CA, CS, CMA |

Justice Dilip Raosaheb Deshmukh took charge as new Chairman of CLB

Former Chhattisgarh High Court Judge Mr Justice Dilip Raosaheb Deshmukh took charge as the new Chairman of the Company Law Board (CLB) on Friday, four days ahead of the originally scheduled joining date. This follows a request by the Government as the presiding Chairman, Mr R. Vasudevan, was arrested on Tuesday by the CBI in a bribery cas...

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Posted Under: CA, CS, CMA |

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