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Archive: 2009

Posts in 2009

Reasons Why Computer Crash

January 23, 2009 735 Views 0 comment Print

Fatal error: the system has become unstable or is busy,” it says. “Enter to return to Windows or press Control-Alt- Delete to restart your computer. If you do this you will lose any unsaved information in all open applications. ” You have just been struck by the Blue Screen of Death. Anyone who uses Mcft Windows will be familiar with this. What can you do? More importantly, how can you prevent it happening?

ICAI in direct need of complete overhaul

January 23, 2009 615 Views 0 comment Print

“The Indian stock market today has the potential to lift all boats across the entire social spectrum of the country and this potential needs to be exploited to the fullest if the government wants to  realise the dream of reducing the poverty rate to single digit.”

CBI Court sentences Income Tax Officer to five-year RI with Rs 26.3 lakh fine

January 23, 2009 1231 Views 0 comment Print

Principal Special Judge for CBI cases, Chennai, today convicted accused G.Selvakumar, former Income Tax Officer, Chennai and M.Vincent Xavier, a private person and sentenced them to undergo Rigorous Imprisonment for five years with a fine of Rs. 26,30,000/- and Rs.17,40,000/ – respectively, for committing forgery, fraud issue of false and forged Income Tax Refund Order […]

Central Vigilance Commission Code of Ethics for CAs and advice to Banks

January 23, 2009 940 Views 0 comment Print

It has been observed that there have been a number of cases in banks and financial institutions wherein due to the erroneous/ambiguous advice tendered by the respective Chartered Accountants, borrowal accounts have had to face quick mortality resulting in loss for the bank. Many a time this has also resulted in vigilance cases being initiated […]

ICSI forms panel to look into corporate governance issues

January 23, 2009 492 Views 0 comment Print

In response to the ministry of corporate affairs letter to the Institute of Company Secretaries of India (ICSI) to investigate issues related to corporate governance aspect in the Satyam accounting fraud, the ICSI council has constituted a core group to look into the matter.

Just Fun, Don’t take otherwise

January 23, 2009 666 Views 0 comment Print

An aspiring CA goes for an interview:  Interviewer – Do you have experience in finalization of accounts?

Humors- The Magician – Guess who?

January 23, 2009 681 Views 0 comment Print

Three world famous magicians were in the bar drinking and boasting about their achievements. The first one said,” During my latest show, I made three women from the audience disappear, it was so convincing that their relatives started panicking, no one could find the trick”

I-T man caught accepting bribe did it for his boss?

January 23, 2009 1108 Views 0 comment Print

CBI arrests Assistant Commissioner Raj Kumar Bhatia, who allegedly asked builder to pay his subordinate Rs 2 lakh. Suresh Khaitan, the Income Tax official arrested on a bribery charge on Wednesday, had been contacting I-T assessees and threatening to initiate tax inquiries against them allegedly on behalf of his boss Assistant Commissioner Raj Kumar Bhatia, […]

Toppers of CA Final and CPT exam 2008

January 23, 2009 5916 Views 0 comment Print

The Curriculum of the Chartered Accountancy Course has been designed, developed and maintained so that the members of the Profession can become the valued Trustees of the World Class Financial Competence, Good Governance and Competitiveness. For details regarding the curriculum, please refer to Annexure 1. Since December 1949, the Chartered Accountancy Examination is held twice in a year. The Final exam was held in November, 2008 in 190 Examination Centers spread over 106 cities all over India and 3 cities abroad.

Terminal allowance under clause(iii) of section 32(1) available only to power generating units

January 23, 2009 33341 Views 1 comment Print

Everything revolves around clause (iii) of section 32(1). The said clause provides that in case any of the assets specified therein on which depreciation is claimed and allowed under clause (i), is sold, discarded, demolished, and if the monies payable fall short of the w.d.v, such shortfall will be allowed

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