The ‘Shield Panel’, a sub-committee of the Research Committee of the Institute, conducts the competition for the ‘ICAI Awards for Excellence in Financial Reporting’ annually, with a view to promote better standards in the presentation of information in the financial statements. The Panel evaluates the Annual Reports and other documents pertaining to the participant organisations.
The next Chartered Accountants Examinations of the Institute will be held from 4th to 17th May, 2010. The sale of Examination Application forms for IPCE, PE-II, PCE and Final Examinations would commence from 08th February, 2010. The last date for sale and receipt of filled in application is 26th February, 2010 (without late fee) and 5th March, 2010 (with late fee of Rs. 500/- ).
The Sale of Examination Application Forms for Chartered Accountants Professional Education – II, Professional Competence Course (PCE), Integrated Professional Competence Course (IPCE) and Final Examinations and also for the Management Accountancy Course (MAC Part – I ),Corporate Management Course (CMC Part – I), Tax Management Course (TMC Part – I), Insurance and Risk Management Course (IRM) and international Trade Laws and World Trade Organization (ITL&WTO)
The Supreme Court has held principles of natural justice is a Constitutional requirement that has to be observed by government while taking disciplinary action against him or her. The apex court said the inquiry officer must act as a quasi-judicial authority and not as a representative of government while inquiry into the charges of misconduct against them.
The Supreme Court has ruled that it is mandatory for the Income Tax Department to issue notice within the prescribed time limit of one year where the assessing officer in repudiation of the block return filed by the assessee proceeds for an inquiry.
Export-Import Bank of India (Exim Bank) has concluded an Agreement dated October 12, 2009 with the Government of the Republic of Mali making available to the latter, a Line of Credit (LOC) of USD 36 million (USD thirty six million) for financing eligible goods, machinery, equipment and services including consultancy services from India for the purpose of completion of Mali-Ivory Coast Interconnection Link for integrating the national power grids between Ivory Coast and the Republic of Mali.
Please refer to paragraph 2.3 of our Master Circular RPCD. CO. RRB. No. BL. BC.8/03.05.90-A/2009-10 (RBI/2009-10/41) dated July 1, 2009 in terms of which amalgamated RRBs having 75 or more branches will be allowed to open one Regional Office (RO) for every 50 branches, and RRBs, which had not undergone amalgamation (stand alone) and having 50 or more branches, are allowed to open one RO for every 25 branches.
With just three weeks to go for India’s national budget for next fiscal, the finance ministry has called for urgent steps to fill top-level vacancies in the direct tax administration as delays were affecting the realisation of targets. Central Board of Direct Taxes (CBDT) Chairman S.S.N. Moorthy has even written to the chairman of Union Public Service Commission requesting an urgent meeting of what is called the departmental promotion committee for filling up the vacancies.
The National Electronic Funds Transfer (NEFT) system has been successfully handling significant volumes, ever since its launch in November 2005. More than 6 million transactions were processed by the system during the month of January 2010 alone. The coverage has also increased substantially with the participation of over 63,000 bank branches spread across the length and breadth of the country.
Alimony cannot be decided on the basis of the husband’s income-tax returns as the I-T document is not the “gospel truth”, the Gujarat high court has ruled. The HC gave the ruling while rejecting the plea of a Vadodara doctor, who moved the court against the maintenance sought by his wife.
