"05 June 2010" Archive

RBI advises public to ignore phishing e-mails

An RBI official today reiterated the central bank's warning to citizens to ignore fraudulent e -mails that sought to trick them into depositing money in anonymous bank accounts....

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Posted Under: Fema / RBI |

RBI launches online system to track applications

Applications made to various departments of the Reserve Bank of India (RBI) can now be tracked on-line through the Application Tracking System (ATS). The Reserve Bank launched the Application Tracking System on its website for convenience of the public. The ATS, cannot be used for tracking complaints made under the Banking Ombudsman Sche...

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Posted Under: Fema / RBI |

CBDT clarifies no TDS receipt number required for filing Income Tax Return this year

THE Central Board of Direct Taxes (CBDT) has directed the Income Tax Department ( ITD ) to make arrangements for receiving income tax returns on 31 st July 2010, the due date for filing tax returns by most taxpayers, as that day happens to be a Saturday. ITD has also been asked to make special arrangements by setting up additional counter...

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Posted Under: Fema / RBI |

Listed Companies Required to Maintain 25% Public Holding

The government today made it mandatory for all listed companies to have a minimum public float of 25 per cent. Those below this level will have to get there by an annual addition of at least 5 per cent to public holding. The move, was expected to result in equity dilution of about Rs 1,60,000 crore by 179 listed companies. These include R...

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Posted Under: Fema / RBI |

Income Tax department demanded 12,000 crore from Vodafone

British telecom major Vodafone Plc today received a new showcause notice from the income tax (I-T) department, quantifying its liability at Rs 12,000 crore on its 2007 acquisition of a majority stake in Hutchison Essar. The company is expected to approach the High Court here over the next few days to challenge the notice....

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Posted Under: Fema / RBI |

ICAI announced date for Online CPT examination to be held in July 2010, September 2010 and in October 2010

CPT Online - 2010 Announcement-It is hereby notified that the Council of the Institute has decided to hold the Online Common Proficiency Test (CPT) for the candidates who would be willing to take the Test Online as per the following details....

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Posted Under: Fema / RBI | ,

15 Can't-Miss Rules for Winning Stock Picks

This one should be obvious, and if you haven't learned it by, now the odds are that you never will. The simple truth is that every time you purchase a stock, it can and will go down. It doesn't matter whether it's Hero Honda or Tata Steel, every new investment carries with it the risk of downside. How you manage those risks is the key to ...

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Posted Under: Fema / RBI |

You’ll Just Have to Live with the Big 4 Whether You Like It or Not

Memo to the World: You’ll Just Have to Live with the Big 4 Whether You Like It or Not. “There are plenty of industries where there are four big players. The world just has to get on with it.” ~ John Griffiths Jones, chairman of KPMG in the UK and co-chairman in Europe on the concern that four accounting major accounting firms are no...

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Posted Under: Fema / RBI |

Importance of data analytics in audit

After the recent incidents of corporate fraud compounded by one of the worst periods of economic turbulence, there is a need to improve the levels of assurance provided over business activities. The need for internal audit, a profession dedicated to providing assurance, is greater than ever, and internal auditors' role is taking centre-st...

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Posted Under: Fema / RBI |

Revised Discussion Paper on the Direct Tax Code – Personal Taxation

The Central Board of Direct Taxes (“CBDT”) had released the draft Direct Tax Code (“DTC”) in August 2009 with a view to simplify tax legislation in India. Based on the response and comments received for the DTC, the CBDT has released “Revised discussion paper on The Direct Tax Code” (“revised draft” / “revised discussion...

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Posted Under: Fema / RBI |

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