The Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI), a Government Company licensed under section 25 of the Companies Act 1956 has been incorporated for the purpose of operating and maintaining the Central Registry under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act)
The Central Board of Direct Taxes (CBDT) on Tuesday said the power of phone tapping of suspected tax evaders continued to remain with it and there has been no change in the government policy in this regard.
The Reserve Bank of India (RBI) today tightened the prudential norms for banks and raised provisioning requirement for bad loans by up to 10%, a development that would impact bottom lines of banks.
IFRS 10 Consolidated Financial Statements includes a new definition of control, which is used to determine which entities are consolidated, and describes consolidation procedures. IFRS 11 Joint Arrangements describes the accounting for joint arrangements with joint control; proportionate consolidation is not permitted for joint ventures (as newly defined)
Notification No. 40 /2011 – Customs In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby directs that each of the notifications of the Government of India in the Ministry of Finance (Department of Revenue), specified in column (2) of the Table below, shall be amended or further amended, as the case may be, in the manner specified in the corresponding entry in column (3) of the said Table,
Taxmen have seized black money to the tune of a whopping Rs 30,000 crore (Rs 300 billion) in the country in the past two years, said the Central Board of Direct Taxes which is set to get investigative powers to boost its drive against wrong-doers.
The CBI’s heart beats for the Tatas, 2G scam accused Shahid Usman Balwa alleged in court today, questioning the agency’s portrayal of the group as a victim of A. Raja’s spectrum allocations. Tatas never had any strained relations with Raja. In fact, he (Ratan Tata) had written to Raja praising him that he (Raja) has been rational, fair and action-oriented, Balwa’s lawyer Vijay Agarwal told special CBI judge .P. Saini.
Rejecting exporters’ repeated pleas, the Finance Ministry today said the popular DEPB tax rebate scheme will come to an end from June 30, saving revenue for the government.
According to a report by financial and business reserach firm Evalueserve, there will be pressure on the Rupee unless steps are taken to fix certain structural issues like high current account deficit and dwindling investments.The Indian Rupee may depreciate by around 20 per cent during next two years on account of dip in confidence about the domestic economy leading to outflow of funds.
Reserve Bank on Wednesday asked public to exchange 25 paise coins and those with lower denominations with banks before June 30, the day from which they would be demonetised or cease to be a legal tender for payment.
