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Archive: October, 2010

Posts in October, 2010

On Line Articles Placement Portal for selection of Articled Assistants by CA Firms from 5th October, 2010

October 2, 2010 495 Views 0 comment Print

The Board of Studies of the Institute has introduced an optional Campus Placement Scheme for selection of Articled Assistants by CA Firms. The Pilot Campus Placement Programme held at Delhi in August 2010 has been a great success with an overwhelming response from both CA Firms and Students. Considering the positive feedback and requests received from both CA Firms and Students, it has been decided to start an Online Articles Placement Portal to facilitate placement of Articles in CA Firms on pan India basis.

Internship Facility on Competition Law and Policy

October 2, 2010 597 Views 0 comment Print

Competition Commission of India (CCI) provides internship facility on competition law and policy to students pursuing Chartered Accountancy course. The objective of internship is to familiarize interested and willing students about the competition la

Most of the 2G licences issued by Government in 2008 are illegal

October 2, 2010 492 Views 0 comment Print

Adding a new twist to the 2G spectrum scam, the Comptroller and Auditor General (CAG) has in its latest communication told the department of telecom (DoT) that a vast majority of the 126 licences controversially issued by the government in 2008 are i

Fire insurance claim for CIGAR

October 2, 2010 888 Views 0 comment Print

Mr. Satodiya Extractor Purchased a box of very rare and expensive cigars then insured them against, among other things, fire. Within a month, having smoked his entire stockpile of these great cigars and without yet having even one month complete Mr.

Hindu Marriage- Conditions for valid marriage

October 2, 2010 1002 Views 0 comment Print

The case of the appellant was that she and respondent Santosh Kumar Singh were coworkers and were known to each other. They fell in love and ultimately the respondent proposed to marry the appellant. The appellant agreed to such proposal and on 21.03

Centre rejects alternative model of Goods and Services Tax (GST)

October 2, 2010 652 Views 0 comment Print

The Centre has rejected the alternative model of Goods and Services Tax (GST) suggested by the empowered panel of State Finance Ministers and a few BJP-ruled States, which was suggested as a strategy to obviate the need for amendment to the Constitut

ICAI President's Message – October 2010

October 2, 2010 672 Views 0 comment Print

MRA with CPA, Ireland: We are delighted to inform that our Institute has signed recently its fourth membership recognition MRA with CPA Ireland for reciprocal recognition of each others qualification on a variable bridging mechanism. The agreement wa

Mutual Recognition Agreement between ICAI and CPA Ireland

October 2, 2010 1407 Views 0 comment Print

The Institute of Chartered Accountants of India has entered into a into a mutual recognition agreement (MRA) with the Institute of Certified Public Accountants In Ireland (CPA Ireland). This agreement offers both bodies the opportunity for key strate

NSDL releases new FUV file for quarterly e-TDS/TCS statement pertaining to FY 2009-10 and 2010-11

October 2, 2010 762 Views 0 comment Print

New validation for quarterly e-TDS/TCS statement pertaining to FY 2010-11 and onwards. Amended file format and FVU version 3.0 & 2.129 released (October 01, 2010). NSDL releases FVU version 3.0 which applicable for quarterly e-TDS/TCS statement per

Collection of third party account payee cheques – Prohibition on crediting proceeds to third party accounts

October 1, 2010 1078 Views 0 comment Print

It has been brought to our notice that since co-operative credit societies are not even sub-members of clearing houses, members of such co-operative credit societies who do not have bank accounts have difficulties in collection of account payee cheques drawn in their name. With a view to mitigate the difficulties faced by the members of co-operative credit societies in collection of account payee cheques, it is further clarified that collecting banks may consider collecting account payee cheques drawn for an amount not exceeding Rs.50,000/- to the account of their customers who are co-operative credit societies, if the payees of such cheques are the constituents of such co-operative credit societies. While collecting the cheques as aforesaid, banks should have a clear representation in writing given by the co-operative credit societies concerned that, upon realization, the proceeds of the cheques will be credited only to the account of the member of the co-operative credit society who is the payee named in the cheque. This shall, however, be subject to the fulfillment of the requirements of the provisions of Negotiable Instruments Act, 1881, including Section 131 thereof.

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