Recently Income Tax department issued one after one circular making amendment in provisions related to TDS. Department has made so many amendments that we even lost the counts of amendments made in TDS laws during the last few months, Department has not only made the amendments in rules/sections governing TDS law but they also amended the forms related to TDS certificate
Eligibility criteria for appearing in the Assessment Test- 1. Members who had registered for the Certificate Course and attended the same but not yet appeared for the Assessment Test. 2. Members who had appeared for the Assessment Test but not declared successful. Such members may reappear by paying the fees of Rs. 1000/. The fees may be paid through Demand Draft in favour of “The Secretary, The Institute of Chartered Accountants of India” payable at New Delhi only and forward the same to the following address:
The Institute is organizing a Campus Placement for the fresher members for job and for students for 15 Months Training on Saturday, the 19th November 2011 at ICSI EIRC Building , 3-A, Ahiripukur 1st Lane, Kolkata-700019 The following process will be followed: 1. Name of the participating companies will be announced at the Campus. 2. […]
NEW DELHI: The lead auditor of the 2G telecom audit today stuck to his stand that the loss due to spectrum allocation was Rs 2,645 crore and he had signed the final report on the alleged scam on the direction of his superiors. Appearing before the Joint Parliamentary Committee (JPC) going into the 2G issue, RP Singh, the then Director General, Audit (Post and Telecommunication), said quantification of loss was not part of the objectives of the CAG audit and the final figure of Rs.1.76 lakh crore was at best a mathematical guess.
The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) today issued for public comment a revised draft standard to improve and converge the financial reporting requirements of International Financial Reporting Standards (IFRSs) and US General Accepted Accounting Principles (GAAP) for revenue (and some related costs) from contracts with customers.
The following is the Exposure Draft of the Guidance Note on Recognition of Revenue by Real Estate Developers, issued by the Accounting Standards Board of the Institute of Chartered Accountants of India, for comments. The Board invites comments on any aspect of this Exposure Draft. Comments are most helpful if they indicate the specific paragraph or group of paragraphs to which they relate, contain a clear rationale and, where applicable, provide a suggestion for alternative wording.
Amid mounting global pressure on Swiss banks to act against clients having illicit wealth, the country’s financial market regulator has found loopholes in the banks’dealing with the foreign political figures. In one of the first-of-its-kind initiative against any hoarding of illicit wealth and money laundering through Swiss banks, the Swiss financial market supervisory authority FINMA has conducted an audit on dealings of all Switzerland-based banks with PEPs (Politically Exposed Persons).
Govind Yadav Versus The New India Insurance Company Limited (Supreme Court)- The compensation awarded by the Tribunal for pain, suffering and trauma caused due to the amputation of leg was meager. It is not in dispute that the appellant had remained in the hospital for a period of over three months. It is not possible for the Tribunals and the Courts to make a precise assessment of the pain and trauma suffered by a person whose limb is amputated as a result of accident.
We are of opinion that there is ample power under section 5A of the State Act enabling the Chief Commissioner to specify the single point at which tax may be levied in a series of sales. This can, however, be done by him only by a notification in the Official Gazette. No such notification has been placed before us which could relate to the assessment year under consideration.
The Draft Real Estate (Regulation & Development) Bill, 2011 seeks to establish a regulatory oversight mechanism to enforce disclosure, fair practice and accountability norms in the real estate sector, and to provide adjudication machinery for speedy dispute redressal. This Act is in pursuance of the powers of Parliament to make laws on matters enumerated in the Concurrent List namely, transfer of property other than agricultural land; registration of deeds and documents, and contracts including partnerships, agency, contracts of carriage, and other special forms of contracts, but not including contracts relating to agricultural land.
