"April, 2010" Archive

High Powered Committee Set up by The ICAI

The Government has informed the Parliament that the Institute of Chartered Accountants of India (ICAI) in terms of Section 17(2) of the Chartered Accountants Act, 1949 constituted a fact finding Committee called High Powered Committee to look into the entire gamut of financial reporting,...

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Posted Under: CA, CS, CMA | ,

ICAI eyeing work opportunities abroad for its members

India chartered accountants eyeing work opportunities abroad will soon be spoilt for choice, with their nodal agency, the Institute of Chartered Accountants of India, negotiating with its counterparts in Canada, Singapore and Ireland to allow the professionals to take up assignments in these countries....

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Institute of Company Secretaries of India to come out with new secretarial standard

To strengthen corporate governance practices, the Institute of Company Secretaries of India will soon come out with a new secretarial standard asking a director of a company to disclose his transactions with other entity in which he has financial interest....

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Government agencies fully authorised to tap the phones of suspected tax evaders

Home minister P Chidambaram clarified in Parliament on Thursday that government agencies were fully authorised to tap the phones of suspected tax evaders. Chidambaram said the Central Board for Direct Taxes (CBDT) and other enforcement agencies were empowered to intercept phones to detect cases of tax evasion. However, he admitted that th...

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Posted Under: CA, CS, CMA |

Bill to enable CAs, Company Secretaries and Cost Accountants to form LLP

Government on 28.04.2010 introduced in the Rajya Sabha three bills to enable CAs, Company Secretaries and Cost Accountants to form limited liability partnership firms in line with global practices....

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Posted Under: CA, CS, CMA |

Govt Identifies SAR of Hong Kong for Double Taxation Avoidance Agreement

The Central Government have notified the “Hong Kong Special Administrative Region of the People’s Republic of China” as ‘specified territory’ for the purpose of Explanation 2 to Section 90 of the Income Tax Act 1961 vide Notification No. 25 of 2010 (F.No.500/124/9-FTD-II). The notification enables the Central Government to enter...

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MCA asks ICAI to make IFRS training affordable

Secretary, Ministry of Corporate Affairs, asks ICAI to make affordable the training being imparted to professionals for converging Indian Accounting Standards with IFRS ...

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Posted Under: CA, CS, CMA |

Service tax on air travel not to impact adversely: Finance Minister

Finance minister Pranab Mukherjee on Thursday said service tax on air travel will not have any adverse impact as it is not linked to fare and has been capped at Rs 100 for domestic travel and Rs 500 for international travel....

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Posted Under: CA, CS, CMA |

Over 3.7 lakh companies not filed annual returns and balance sheets with ROC

Over 3.7 lakh companies have not filed annual returns and balance sheets, which is mandatory under the Companies Act, for the fiscal year 2008-09, Parliament was informed on Friday. ...

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Posted Under: CA, CS, CMA |

Finance Bill 2010-11: Construction Industry gets service tax concession

In a relief to realty sector and home buyers, Finance Miniser Pranab Mukherjee on Thusday announced tax concessions to the construction sector, which was brought under the ambit of service tax in this year's Budget....

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Posted Under: CA, CS, CMA |
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