These are the near final Indian Accounting Standards (Ind ASs) finalised by the Council of the ICAI and sent to the National Advisory Committee on Accounting Standards (NACAS). These are subject to any changes, which may be made by the Government before their notification. Any changes in the Ind AS vis. a vis. corresponding IAS/IFRS are given in Appendix 1 appearing at the end of each Ind AS.
Crippled by an acute shortage of Revenue Service officers in crucial posts during the peak income tax collection season, the government has ordered that they be re-deployed. The department, which is racing to meet the budgeted target of Rs. 4.30 lakh crore tax collections in this fiscal, has been ordered by the Central Board of Direct Taxes (CBDT) to immediately rejig the officials at Additional and Joint Commissioners rank level to revenue collection duties and ranges concerned.
Pendency of cases will be curtailed from 15 to 3 years says Dr. Veerappa Moily Under E-Courts projects timeline has been drawn for computerisation of courts Arbitration and Conciliation Act 1966 will be amended to make India an international hub
Central Board of Excise and Customs (CBEC), Department of Revenue has issued a Notification No.1/2011-Customs (N.T.) dated January 14, 2011 and thereby notifying tariff values of edible oils, brass scrap (all grades) and Poppy seeds as shown in the t
The Securities and Exchange Board of India (SEBI) on Friday said billionaire Anil Ambani cannot invest in publicly-listed securities until the end of this year, and barred two of his companies from such investments until the end of 2012. SEBI said Re
Finance Minister Pranab Mukherjee today said high inflation and uncertain global environment are main concerns faced by the Indian economy , but exuded confidence that the government would tackle them. Though, there are some immediate concerns for e
Amid expectations that RBI will hike policy rates later this month to tame high inflation, Finance Minister Pranab Mukherjee today said the central bank will take appropriate monetary action to stabilise prices. “Whenever the appropriate adjustment
British High Commissioner to India Richard Stagg today said telecom operator Vodafone should not be made pay the proposed Rs 11,000 crore tax from its deal with Hutchinson Essar as it had not made any capital gains. “We believe that Vodafone have
Shivraj Puri, the main accused in the estimated Rs 400 crore fraud at Citibank’s Gurgaon branch, was remanded in 14 days’ judicial custody by a local court today. Chief Judicial Magistrate D N Bhardwaj ordered Puri to be taken into judicial remand for 14 days till January 28 at a hearing today. Puri has been in police custody for the past 14 days in connection with the fraud.
Majority of the broadband internet service providers have not been able to deliver the speed which they had advertised, a recent study says. According to a test conducted by Sri Lanka-based research firm LIRNEasia ‘Recent Quality of Service Experienc
