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Archive: 12 February 2010

Posts in 12 February 2010

Deloitte to double workforce in India

February 12, 2010 5356 Views 0 comment Print

Global business consultancy firm, Deloitte, plans to almost double its India workforce to 24,500 over the next 30 months, a top company official said. “We will hire around 12,000 people in every sector, including IT, CAs, financial services. The process has started and 40 per cent of the total hires will be freshers,” Deloitte India’s Managing Director Hari Kumar told PTI on the sidelines of the Nasscom Summit here today.

New Companies Bill may be passed in the monsoon session to replace Companies Act, 1956

February 12, 2010 669 Views 0 comment Print

The new Companies Bill, which seeks to replace the legislation enacted way back in 1952, is likely to be approved by Parliament in the monsoon session, corporate secretary R Bandyopadhay said on Thursday. “With the speed at which the parliamentary standing committee is proceeding with the discussions, I am hopeful that the Bill would be passed in the monsoon session.

Perks & Jerks for Employees!

February 12, 2010 1364 Views 0 comment Print

With virtually no reprieve from the tax burden on their pay packages and continuing anomalies and inequities, the new rules for valuation of perquisites announced by the Central Board of Direct Taxes (CBDT) on December 18, 2009 have hugely disappointed millions of salaried employees.

FDI inflows during December 2009 stood at US $ 1.542 billion

February 12, 2010 496 Views 0 comment Print

Shri Anand Sharma, Union Minister of Commerce & Industry, has stated that the FDI inflows for the month of December, 2009 have been of the order of US $ 1.542 billion. Addressing a press conference here today he informed that this is an increase of 13%, in US $ terms, over inflows in the month of December, 2008 (previous year), which were US $ 1.362 billion.

Board of Approval of the SEZs grants three formal and six in-principle approvals

February 12, 2010 666 Views 0 comment Print

Addressing the Board of Approval members, the Chairman informed that so far 571 formal approvals have been granted for setting up of SEZs out of which 348 have been notified. He further informed that over Rs. 1,28,385 crore have been invested in the Special Economic Zones during this short span of time and direct employment of the order of 4,90,358 persons has been generated in the Special Economic Zones. During the first three quarters of current financial year, total export of Rs. 1,51,786 crore approximately has been made from SEZs.

Shri Salman Khurshid launched Electronic File Tracking System (FTS) in the Ministry of Corporate Affairs

February 12, 2010 786 Views 0 comment Print

Shri Salman Khurshid, Minister of Corporate Affairs, launched the electronic File Tracking System (FTS) in his Ministry here today. He electronically generated the first File No. under this system, which has been developed and maintained by National Informatics Centre (NIC).

Income tax officers taking VRS to join private sector

February 12, 2010 8721 Views 0 comment Print

Over the past two months, at least a dozen senior officers of the Income-Tax department, belonging to the elite Indian Revenue Service (IRS), have opted for voluntary retirement, a government scheme that allows them to quit before the statutory retirement age. These officers are likely to end up in the private sector, most likely as consultants, to get around rules that prevent government employees from working within a year of quitting.

DTC not expected to be presented in upcoming budget

February 12, 2010 597 Views 0 comment Print

The Direct Taxes Code 2009 is now on the back burner. The Union finance ministry has veered round to the view that its bold move to reform direct taxes should be subjected to further scrutiny. Contrary to earlier expectations, therefore, the Direct Taxes Code 2009 will not be presented to Parliament as a Bill along with the Union Budget for 20010-11 on February 26.

FIPB allowed to clear FDI proposals of up to Rs 1,200 crore

February 12, 2010 490 Views 0 comment Print

The government has allowed the Foreign Investment Promotion Board (FIPB), under the commerce ministry, to clear foreign direct investment (FDI) proposals of up to Rs 1,200 crore. At present, all project proposals that involve investment of above Rs 600 crore are put up before the Cabinet Committee of Economic Affairs (CCEA) for approval.

MoU between ICAI and Yashwantrao Chavan Maharashtra Open University

February 12, 2010 759 Views 0 comment Print

The Memorandum of Understanding between ICAI and Yashwantrao Chavan Maharashtra Open University, Nashik has been signed by the President, ICAI and the Vice-Chancellor of the University on 10th February, 2010 at New Delhi. The MoU envisages members of the ICAI and the Students will be eligible for admission to MBA, M.Com, BBA and B.Com courses and will be eligible for exemption in certain papers based on the stage(s) of the Chartered Accountancy Examinatioin passed. Details of the course structure, papers wise exemption and the fees payable are given in the attached annexure.

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