"November, 2010" Archive

11 real estate companies are already under CCI scanner

Within a week of the CBI arresting senior bankers in the housing finance racket, the competition watchdog CCI on Monday said 11 real estate companies are already under its scanner. "I can only say that of the 137 cases that we are handling, 11 pertai...

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Posted Under: Corporate Law |

Banks want RBI to define teaser loan schemes

Even as Corporation Bank has decided to be the first one to withdraw teaser loan schemes, others led by the State Bank of India (SBI) have asked the Reserve Bank of India (RBI) to define teaser loans. Stung by the public criticism of teaser rates, SB...

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Posted Under: Corporate Law |

Common Proficiency Test – Proposed amendment in the Chartered Accountants Regulations, 1988

Common Proficiency Test: The Council at its 300th meeting reviewed the requirement for passing the Common Proficiency Test and decided that a candidate shall have to obtain at one sitting, a minimum of 30 per cent marks (out of maximum marks specifie...

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Posted Under: Corporate Law |

Whether Higher Stock than Actual Declared to Bank Attracts Additions U/s 69 of the Income Tax Act 1961

Section 69 of Income Tax Act deals with the cases of unexplained investments which have been made by the assessee but not accounted for in his books of accounts if any maintained and for which no satisfactory explanation is offered by the assessee....

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Posted Under: Corporate Law |

CBI looking into bad debt write-offs by some of banks and financial institutions involved in Money Matter Bribery Sc

The CBI is looking into bad debt write-offs by some of the banks and financial institutions involved in the kickbacks-for-loan rackets it busted last week. Two of them -- Punjab National Bank (PNB) and Bank of India -- have written off almost Rs 400 ...

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Posted Under: Corporate Law |

Announcement Regarding ISA AT to be held in Dec 2010 – (29-11-2010)

The Committee on Information Technology, has introduced, New Syllabus, with effect from April 2010 for which first Assessment Test will be held in Dec 2010. It has been decided that the members already registered for the ISA course prior to April 20...

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Posted Under: Corporate Law |

Income Tax Department is releasing 3 new services on the e-filing website

Income Tax Department is releasing 3 new services on the e-filing website Income Tax Department is releasing 3 new services on the e-filing website. These are available from the ‘Services’ menu on the Menu Bar on top. The services are available without requiring any login (and are also available under ‘My Account’ ...

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Posted Under: Corporate Law |

'CAs should be watchdogs of the economy' – Chairman CBDT

Indian economy is buoyant, strong and has kept recession at bay and to keep the progress going, the contribution of chartered accountants is important. They must act as the watchdogs of economy and contribute to nation building,...

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Posted Under: Corporate Law |

Know ITR-V receipt status, Income Tax Refund failure status and processing status of e-Returns in respect of return file

Income Tax Department is releasing 3 new services on the e-filing website. These are available from the 'Services' menu on the Menu Bar on top. The services are available without requiring any login (and are also available under 'My Account' as well)...

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Posted Under: Corporate Law |

CBI files fresh status report in SC on 2G probe

The CBI today filed in the Supreme Court a fresh status report on its ongoing investigation into the 2G spectrum scam allegedly involving former Telecom Minister A Raja, responding to posers by the judges and explaining in detail the nature of the pr...

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Posted Under: Corporate Law |