"09 December 2010" Archive

Announcement of Setting up of SICASA Branch at Udupi

the Institute of Chartered Accountants of India is pleased to announce the setting up of a Branch of Southern India Chartered Accountants Students’ Association at Udupi with effect from October 28, 2010....

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Posted Under: CA, CS, CMA |

IFRS expected to be effective from April 2011

Corporate India is likely to switch to the new accounting system as per schedule as all pending issues related to tax implications required for convergence with International Financial Reporting Standards (IFRS) have been addressed by the finance min...

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Posted Under: CA, CS, CMA |

Income Tax officials raid 23 BPTP offices

Income Tax officials on Tuesday conducted a search-and-seize operation on several premises of real estate company BPTP under alleged cases of tax evasion. The search was carried out in 23 offices of the company across the NCR to ascertain facts about...

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Posted Under: CA, CS, CMA |

Clean chit to banks, housing finance cos on foreclosure penalty

The levy of a penalty by banks and housing finance companies for foreclosure of home loans does not amount to abuse of dominant position, the Competition Commission of India (CCI) ruled on Tuesday, quashing borrowers’ hopes that the practice could be...

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Posted Under: CA, CS, CMA |

Chartered Accountants Discuss New Ideas in the Field of Social Audit

The Institute of Chartered Accountants of India(ICAI), functioning under the aegis of the Ministry of Corporate Affairs, organized here today a seminar on Social Audit. A plethora of new ideas in this emerging field were discussed by the Chartered Ac...

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Posted Under: CA, CS, CMA |

RBI Circular on Smart Order Routing – Clarification

Circular No. CIR/MRD/DP/ 36 /2010 09/12/2010

This circular is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market....

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CBDT Instructions on Income Tax Refunds for A.Y 2009-10

INSTRUCTION NO. 9/2010 09/12/2010

INSTRUCTION NO. 9/2010 Reference may be made to Board’s Instruction No. 7, dated 16-8-2010 in which it has been stated, inter alia, that in cases where the return is filed in ITR-1 and ITR-2 for the A.Y. 2009-10, and where the TDS claim does not exceed Rs. three lakh and where the refund computed does not exceed Rs. Twenty five thousand...

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Six Weeks Residential Programme for PCC/IPCC/PE-II students/ newly qualified Chartered Accountants from January 20th, 2011 at Centre of Excellence, Hyderabad

Six Weeks Residential Programme on Professional Skills and Development has been initiated by Board of Studies, ICAI for the benefit of Chartered Accountancy Students and newly qualified Chartered Accountants. All the students who have passed PCC/IPCC...

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Posted Under: CA, CS, CMA |

Penal action under Rule 173Q (1)(bb) of the Central Excise Rules, 1944 for wrongly taking credit

Mewar polytex ltd. Vs union of India & ors (Supreme Court of India)

The necessary facts, in brief are, that the show cause notice dated 15.2.1999 was issued to the assessee alleging that it had wrongly taken credit to the extent of 5,37,799 under Rule 57A of the Rules, during August 1998. ...

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ICAI – Announcement of Setting up of CICASA Branches at Noida, Gwalior, Beawar, Agra and Bhilai

Institute of Chartered Accountants of India is pleased to announce the setting up of a Branch of Central India Chartered Accountants Students’ Association at Agra with effect from October 28, 2010....

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Posted Under: CA, CS, CMA |

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