"21 February 2010" Archive

Excise department detected evasion of service tax of more than Rs 1 crore

A joint team of officers of customs, central excise and service tax from commissionerates of Lucknow, Kanpur and Allahabad along with officers of income tax raided the premises of certain commercial coachings and security agencies and carried out search and seizure operations recently and detected evasion of service tax to the tune of mor...

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Posted Under: Service Tax |

ICAI considering fixing responsibility on offending firms

Hit hard by the Satyam scam and the damage it dealt to the auditing profession, regulator ICAI is considering a proposal to penalise audit firms while also looking at radical steps like rotation of audit firms every five years, a measure also favoured by the government....

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Posted Under: Service Tax | ,

I-T officer probing Koda Scam shifted to assessment wing from investigation wing

Ujjawal Chaudhary, senior Income Tax (I-T) officer, who led the probe into the multi-crore Madhu Koda scam, may have been on the verge of unravelling the link between politicians and hawala traders when he was abruptly shifted this week....

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Posted Under: Service Tax |

Procedure for allotment of Statutory Bank Branch Audit for FY 2010-2011

As Chairman, Professional Development Committee, I am receiving a lot of queries/inquiries from not only the members but also the Council Members of the Institute; I felt it expedient to apprise you of the procedure being adopted this year for allotment of branch statutory auditors of public sector banks for the year 2009-10....

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Posted Under: Service Tax |