The Comptroller & Auditor General of India, country’s statutory auditor, has sought government intervention to access financial records of Cairn India-operated Rajasthan oil fields. It has not yet received records of Cairn’s Barmer oil fields (RJ-ON-90 /1) for auditing, a senior CAG official said.
January 21, 2010 The results of the Chartered Accountants Professional Education – II, Professional Competence Examinations and Integrated Professional Competence Examination held in November, 2009 are likely to be declared on Friday, the 29th January, 2010 around 2 P.M. and the same as well as the merit list (candidates securing a minimum of 55% and above marks and upto the maximum of 50th Rank) on all India basis will be available on the following website:
January 21, 2010 The results of the Management Accountancy Course (Part-I), Insurance and Risk Management [IRM] and International Trade Laws & World Trade Organisation [ITL & WTO] Examinations held in November, 2009 are likely to be declared on 29th January, 2010 around 2 P.M. at the Institute’s office at New Delhi.
The Delhi High Court (HC) [2010-TIOL42-HC-DEL-IT] in the case of CIT v. Industrial Finance Corporation of India (Taxpayer) which held that the difference between forward rate and exchange rate prevailing on the date of entering into forward contracts is fully allowable as deduction even if the
Please refer to our circular letter DBOD. AML.No.11031/14.06.059/2009-10 dated December 21, 2009. We have since received from Government of India (Ministry of External Affairs) copy of note dated January 19, 2010 from the Chairman of UN Security Council’s 1267 Committee regarding changes made in the Consolidated List of Individuals and entities linked to Al-Qaida and Taliban.
trading members and clearing members in the equity derivatives and currency derivatives segments. stock brokers in the cash segment who are covered under Schedule III A [payment of fees by stock brokers] of the SEBI (Stock Brokers and Sub-brokers) Regulations, 1992 and stock brokers in the cash segment who may migrate to Schedule III A [payment of fees by stock brokers] of the SEBI (Stock Brokers and Sub-brokers) Regulations, 1992 in future (as and when they migrate).
Trade defence measures are available to the domestic industry to counter unfair trade practices followed by exporters of goods from other countries. In case a product is imported into the country at less than its normal value, and it causes injury to the domestic industry, the domestic industry can make an application to Directorate General of Anti-Dumping and Allied duties (DGAD) in the Department of Commerce for imposition of anti-dumping duty.
CIT v. Bhagwati Steels -(Punjab & Haryana HC) -In the instant case, it was held that the payment of freight charges by the assessee to the truck drivers was based on individual GRs which represented individual and separate contracts and there was no single contract for carriage or transportation of goods referred to between assessee and the impugned parties which would make the assessee liable for deduction of tax at source under section 194C of the Act.
In a rare instance, a group of four—led by a chartered accountant (CA)—succeeded in extracting from the income tax (I-T) department fraudulent tax refunds, amounting to over Rs 3 crore, in the names of 30 people.The I-T officials on Tuesday managed to locate one of the four, Nitin Dalvi, and recorded his statement. The other three, CA Dilip Vyas and his accomplices Sandeep Roy and Mohan Gadge, are still at large.
Small and medium enterprises (SMEs) in the country will not have to prepare their accounts as per the International Financial Reporting Standards (IFRS) from April 1, 2011, saving them significant cost of switching to the more rigorous accounting standard A government-constituted core panel on IFRS has decided to exempt SMEs from the first phase of convergence falling due in 2011.
