"February, 2010" Archive - Page 32

Campus Placement Programme for newly qualified Chartered Accountants March, 2010

The Placement Programme of the Institute provides an excellent opportunity to peruse the particulars of a large number of newly qualified Chartered Accountants, interview and recruit the suitable ones in your organisation. The scheme provides an opportunity both to employing organisations as well as the young professional aspirants to me...

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Posted Under: CA, CS, CMA |

MCA asked ROC to submit detailed report on Adani Exports

The ministry of corporate affairs has asked the Registrar of Companies (RoC) to submit a detailed report under Section 234 of the Companies Act seeking an explanation from Adani Exports (now known as Adani Enterprises) for its financial statements for the year 2004-05....

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Posted Under: CA, CS, CMA |

Insurance company not liable if policy holder fails to submit information about claim in writing

An insurance company is not liable for any deficiency of service if a policy holder fails to submit the information about the accident, damage and claim in writing, a consumer court has held. "The oral approach to the insurance company for appointment of the surveyor and to determine the damages to reimburse has no meaning unless the requ...

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Posted Under: CA, CS, CMA |

Cement industry urged Centre to abolish import duty on raw materials used in production of cement

The cement industry has urged the Centre to abolish import duty on raw materials such as coal, pet coke and gypsum since cement as a finished product does not attract duty. In its pre-Budget memorandum submitted to the Finance Minister, Mr Pranab Mukherjee, the Cement Manufacturers Association (CMA) has said the duty on coal, pet coke and...

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Posted Under: CA, CS, CMA |

Soon Chartered Accountants will do Panchayat audits

To promote transparency in the financial transactions done by the Gram Panchayats in the state, the Orissa government has decided to rope in the services of the Chartered Accountants (CAs) for compilation of data at the grassroot level. The state government with technical assistance of the National Informatics Centre (NIC) has developed a...

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Posted Under: CA, CS, CMA | ,

SEBI asked financial details of companies suspended for non payment of listing fees

The regulator had recently formed a committee comprising senior officials from SEBI, investor associations, Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) to resolve complaints pending against companies suspended by the exchanges. Non-payment of listing fees is the most common reason for suspension of companies from the bou...

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Posted Under: CA, CS, CMA |

Key People behind the forthcoming budget

Prime Minister Manmohan Singh: Hailed as the father of India's economic reforms, Prime Minister Manmohan Singh takes part in the Budget-making process. The prime minister holds talks with the finance minister, economists and senior officials to make sure that the Budget unveils policies to stimulate economic growth....

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Posted Under: CA, CS, CMA |

Life insurers demanded EEE method instead of EET in DTC, allow to carry forward loss for 12 years and service tax exemption

Life insurance companies want the current system of tax exemption for insurance maturity proceeds to be continued. The proposed Direct Taxes Code has suggested deduction of tax on the final payout, while exempting the policy premium at the time of contribution and the interest on it....

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Posted Under: CA, CS, CMA |

RBI may soon introduce base rate in place of BPLR

Responding to the widespread feeling that banks do not set their lending rates in a scientific and transparent manner, the Reserve Bank of India is in the last stages of the consultative process to introduce a new system. The proposed system will replace the existing system of benchmark prime lending rates (BPLR) with base rates. The form...

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Posted Under: CA, CS, CMA | ,

Provision for Gratuity & Leave Encashment not Allowable

Before 2008-09, deduction towards leave encashment and gratuity was a controversial issue following a Calcutta High Court judgment in the case of Exide Industries. The court ruled in favour of Exide and against the revenue department, saying that such provisions whether paid or not were eligible for deductions on the basis of actuarial va...

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Posted Under: CA, CS, CMA |

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