"October, 2010" Archive - Page 18

All India Bar Examination Mandatory for all Law Graduates to Practice in India

The Bar Council of India (BCI) has made All India Bar Examination (AIBE) mandatory for all law graduates who have passed in the academic year 2009-10 to practice law in India. The BCI will conduct the AIBE in nine languages across 27 cities in India ...

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Posted Under: Finance |

Security audits as per RBI rules must for banks, says RR Patil

In the wake of the growing number of banks being looted in the state, home minister RR Patil said, on Thursday, that banks needed to be more vigilant and should conduct the mandatory security audits as per the rules laid down by the Reserve Bank of I...

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Posted Under: Finance | ,

FM not in favour of acquisition of regional rural banks by Corporates

The finance ministry is not in favour of corporates acquiring dedicated rural lenders, regional rural banks, a suggestion mooted by the Reserve Bank of India in a recent discussion paper on new bank licences. ...

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Posted Under: Finance |

Congress MP Jagan Mohan Reddy pays advance tax of Rs 84 crore in first 6 months of current financial year

Though the persistent belligerence of Congress MP Jagan Mohan Reddy has often embarrassed the Congress high command since his father and former Andhra Pradesh chief minister Y S R Reddy's death last year, not much is known about his personal wealth. ...

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Posted Under: Finance |

Nelp-IX- Energy explorers will get tax exemption based on investments

Energy explorers will get tax incentives based on their investments in the ninth round of auctions for oil and gas exploration blocks, replacing the existing regime of seven-year tax holiday on profits. The tax benefits will extend to gas exploratio...

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Posted Under: Finance |

Deduction for expenditure incurred towards machinery hired cannot be rejected on the ground that that the machinery was lying idle

The high court of Bombay at Goa has recently held that the deduction claimed by a company for expenditure incurred towards machinery hired cannot be rejected by the tax authorities on the ground that that the machinery was lying idle. ...

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Posted Under: Finance |

Financial laws reform panel to be set up by March 2011

India will create by March a committee of experts from outside the government that will suggest changes in financial laws to bring them in line with current needs. The committee, which will be called Financial Sector Legislative Reforms Commission (F...

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Posted Under: Finance |

CAG audit of CWG Village to begin from Oct 28

The Comptroller and Auditor General (CAG) will start the audit work of Commonwealth Games Village here from October 28 to probe allegations of financial irregularities. Official sources said the CAG will also audit the accounts of Delhi Development A...

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Posted Under: Finance |

Unique Identity Number (UID) – All you wanted to know

Unique Identification is merely a string assigned to an entity that identifies the entity uniquely. Every person residing in India will soon have a UID. Biometric identification system and checks would be used to ensure that each individual is assign...

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Posted Under: Finance |

No varying pay if employees are on same posts- HC

There cannot be discrimination among employees holding the same posts and doing similar nature of work in terms of their pay scale unless one has higher qualifications, Delhi High Court has said. The court dismissed an appeal filed by the Centre agai...

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Posted Under: Finance |

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