"03 February 2012" Archive - Page 3

Liquor baron Ponty Chadha denies seizure of Rs 100 cr from mall

Liquor baron Ponty Chadha today refuted reports that cash to the tune of Rs 100 crore has been seized from a mall owned by him in Noida near here during searches carried out by the Income Tax officials. In a statement, Wave Infratech owned by him said widespread rumours and wrong information have been circulated to tarnish the image of th...

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Posted Under: Income Tax |

Grant of Loans and Advances and Award of Contracts to Directors of Banks and their Relatives

RBI/2011-12/385 DBOD.No.BP.BC.79/21.01.001/2011-12 03/02/2012

We have come across an instance, where loans and advances have been sanctioned to the relative of a Director of a bank, at a concessional rate of interest, thereby circumventing the spirit of the restrictions contained under Section 20 of the Banking Regulation Act, 1949. The matter has, therefore, been examined by us and it has been dec...

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RBI asks commercial banks not to overvalue houses while providing loans

RBI/2011-12/383 DBOD.No.BP.BC. 78 /08.12.001/2011-12 03/02/2012

Please refer to our circular DBOD.No.BP.BC.69/08.12.001/2010-11 dated December 23, 2010 on “Housing loans by commercial banks – LTV ratio, risk weight and provisioning” wherein it was advised that in order to prevent excessive leveraging, the LTV ratio in respect of housing loans should not exceed 80 per cent. However, for small val...

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Laxman Das takes over as new CBDT chairman

Laxman Das took over as the new chairman of the Central Board of Direct Taxes (CBDT) on Wednesday. The former chairman of the CBDT, M C Joshi, retired yesterday....

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Posted Under: Income Tax |

Inclusion in the Second Schedule to the Reserve Bank of India Act, 1934 Industrial and Commercial Bank of China Limited

RBI/20011-12/384 Ref.DBOD.No.Ret.BC 77/12.06.132/2011-12 03/02/2012

We advise that the name of Industrial and Commercial Bank of China Limited has been included in the Second Schedule to the Reserve Bank of India Act, 1934 by notification DBOD.IBD.No./8136/ 23.03.026/2011-12 dated December 01, 2011 published in the Gazette of India (Part III- Section 4) dated December 31, 2011....

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FM asks Customs Administration to Function on Principles of Transparency, Predictability, Strong Legal Processes and Productive use of it

The Union Finance Minister Shri Pranab Mukherjee said that the modern customs administration should function on the principles of transparency, predictability, strong legal processes and productive use of information technology to serve the stake holders efficiently and to enhance the competitiveness of Indian business. The Finance Minist...

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Posted Under: Income Tax |

ICSI Launches New Syllabus for CS Foundation Programme

The Institute of Company secretaries of India ( ICSI), a premier National Professional body established by Act of Parliament to develop and regulate the Profession of Company Secretaries has launched a new syllabus for CS Foundation Programme today, at New Delhi. The CS Foundation programme consists of four papers viz., Business Enviro...

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Posted Under: Income Tax | ,

Exposure Draft on Proposed New Syllabus for Executive and Professional Programme of The Company Secretaryship Course

The revision of syllabus is a process in continnum, to nurture the students in terms of capacity building, knowledge grinding and skills development. The evolving corporate environment and regulatory regime including expansion of globalization and the advancement in technology necessitated the revision of syllabus to make it contemporary....

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Posted Under: Income Tax |

List of Applications for supply of Certified Copies/Inspection of Answer Books of November, 2011, CA Final Examination received by the Examination Department

List of Applications for supply of Certified Copies/Inspection of Answer Books of November, 2011, CA Final Examination received by the Examination Department. Final Examination November, 2011 - Download List...

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Posted Under: Income Tax |

ICWAI Circular regarding Change in Cut off date for training from Dec.12 to Dec.13

Pursuant to the decision taken by 271st council meeting held on 24th September 2011, the Practical Training scheme for the students registered under Revised Syllabus 2008 (Registered for Intermediate course on or after 01.01.2008), stands modified to the extent as mentioned below:...

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Posted Under: Income Tax |

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