The Reserve Bank today said the uncertainty over issuing guidelines for new bank licences is likely to continue for some more time as it is in consultation with the government over the draft norms. There is some uncertainty about the time-frame for issuing new bank guidelines. We are discussing (the issue) with the Government, RBI Governor D Subbarao told reporters here today.
THE TARGET -The target is to double the country’s merchandise exports in dollar terms over the next three years (2011-12 to 2013-14) from US $ 246 billion in 2010-11 to US$ 500 billion in 2013-14. To realize this, exports have to grow at a compound average growth of 26.7 % per annum.
ITAT Mumbai in the case of Manali Investments v. ACIT held that the short term capital gains arising from the transfer of depreciable assets held for more than 36 months under Section 50(2) of the Income-tax Act, 1961 (the Act) can be set-off against the brought forward long term capital losses under Section 74 of the Act.
Punjab & Haryana High Court in Bhushan Power & Steel Limited v State of Punjab & others has granted interim stay to the petitioners on the levy of entry tax u/s 3-A of Punjab Tax on Entry of Goods into Local areas Act 2000(hereinafter called as the Act), by considering it to be as ultra-vires of the State Government’s power to levy tax under the Constitution of India. Here the grounds on which stay has been granted are being discussed and an attempt has been made to make readers understand the order of the High Court in the said case.
In a bid to check inflation, Reserve Bank today raised its short term lending (repo) rate by 50 basis points to 7.25 per cent, while lowering the economic growth projection to 8 per cent for the current fiscal. The RBI has also increased the saving bank rate by 50 basis points to 4 per cent to give higher returns to depositors in the wake of high inflation.
IRDA requests for Proposal from reputed IT firms / Organizations for the development and implementation of Integrated Surveyor Licensing Management System (ISLMS), maintenance and hosting the same. For details, please visit http://www.irda.gov.in. Last date for receipt of application for technical bid is 7th May 2011 by 3.00 PM
Hiring services of chartered Accountant firm for statutory audit of state health society – Selection of auditors – Request for proposal Hiring services of chartered Accountant firm for statutory audit of state health society ( SHs) & district health society ( DHs)- ( for the Financial year 2010-11 ) under national Rural health mission ( NRHM )
TRIPURA STATE COUNCIL FOR SCIENCE AND TECHNOLOGY VIGYAN BHAWAN, IST FLOOR GORKHABASTI, AGARTALA TRIPURA ( WEST) Notice Expression of Interest for auditing the Accounts of Tripura State Council for Science & Technology for the Financial Year 2010-11 including compilation of accounts thereof. The Expression of Interest from Chartered Accountant Firms ( located at Agartala) is hereby invited in sealed envelop for auditing ( including preparation and compilation of annual accounts viz., income & expenditure statement, receipt and payment statement, balance sheets, statements of fixed and dead stock, preparation of general ledger, preparation of bank reconciliation statements etc) for the year 2010-11 of the Tripura State Council for Science & Technology.
Expression of interest is invited from registered CA firms having at least 3 years experience and having at least one full time practicing Chartered Accountant (who should be FCA) and having annual turnover of more than Rs. 7.50 lacs for conducting internal audit of sarva shiksha abhiyan for the financial year 2010-11 i.e. head office, 21 districts, 119 brcs and 14506 schools. the firms should be empanelled with CAG of india (during 200-11) and the partners should have undergone necessary cpe programme and acquired DISA Qualficiations. only eligible firms may quote the rate of audit. separate rate should be quoted for head office, districts (including brcs and schools) and it should be inclusive of ta/da and all the taxes etc. selected ca firm will be allotted one district (including brcs & schools) the allotment of districts will be the sole discretion of the parishad.
Sec 2 (j) of the Industrial Disputes Act has defined the term industry means any systematic activity carried on by co-operation between an employer and his workmen (whether such workmen are employed by such employer directly or by or through any agency, including a contractor) for the production, supply or distribution of goods or services with a view to satisfy human wants or wishes (not being wants or wishes which are merely spiritual or religious in nature), whether or not, –
