The Authority is in receipt of complaints from policyholders relating to agency identification and servicing, especially when they have approached insurers directly and are serviced through an agency allotted by the insurer. In particular, there are complaints that there are instances of agency codes that are dummy, with the agent being non-existent.
Sr. No. Nature of Payment Rates of TDS where deductee is a resident Remarks The present rates Proposed rates under the Code 1. Salary paid to employees Rates as per the slabs and rates prescribed by the Finance Act Average rate of tax on salary paid during the financial year
CBI has registered a case against two officials of Bank of India in Khunti district of Jharkhand for their alleged involvement in corrupt practices. A case under different Sections of IPC and the Prevention of Corruption Act has been registered against Patras Sanga, Manager and Dev Kant Jha, Assistant Manager, Bank of India, Karra Branch of the district.
During the inspection of several broker and insurers, it was found that audit trial of many transactions with regard to reinsurance placements and coinsurance was very difficult to track. The trial started going cold after the money reaches the broker and cash flows to and from the reinsurer were not available for monitoring, either with the broker or the insurer. In this context, it is becoming difficult to verify the genuineness of the placements.
The Institute of Chartered Accountants of India (ICAI) will train accounting technicians at Abu Dhabi from next year and is in a process of signing memorandum of understandings (MOUs) with several countries in the coming months in this connection. These were some of the developments shared by ICAI president CA Amarjit Chopra, who presided over the convocation ceremony of ICAI here on Monday. Chopra also hinted that in a bid to foster transparency, they may start showing answer sheets to students if the council approves.
CA FINAL OLD COURSE MAY 2010 SUGGESTED ANSWERS – ISSUED BY ICAI. CA FINAL NEW COURSE MAY 2010 SUGGESTED ANSWERS – ISSUED BY ICAI
For the sixth year in a row, over 4.7 crore subscribers of retirement fund manager EPFO are likely to get 8.5 per cent interest on their deposits in the current fiscal. “EPFO’s apex decision-making body, the Central Board of Trustees (CBT), is likely to fix 8.5 per cent interest for subscribers at its meeting scheduled for September 10,” a source said.
The ministry of corporate affairs, or MCA, has all but dismissed the findings of a panel set up by the Institute of Chartered Accountants of India (ICAI) because it contains little that will help in regulating the profession and ensuring that frauds such as the one at Satyam Computer Services Ltd don’t happen again.
SEBI had constituted a Committee called the “Takeover Regulations Advisory Committee (TRAC)” which has recommended amendments to the procedure for corporate acquisitions. The mandate of the committee was to examine and review SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and to suggest suitable amendments therein.
The concept of Limited Liability Partnership (LLP) in India is viewed as an alternative corporate business vehicle that provides the benefits of limited liability and also allows its members the flexibility of organizing their internal structure as a partnership based on a mutually arrived agreement. The revised Bill received the assent of the President of India on 7, January 2009.
