With a view to keeping retail investors away from the portfolio management schemes (PMS), Sebi on Friday raised the minimum investment amount of clients for such schemes to Rs 25 lakh from the earlier Rs 5 lakh. PMS offers investors a range of specialised investment strategies to capitalise on opportunities in the market and made suitable to the needs of individual clients.
Cost Accounting Standards Board, the standard-setting body of the Institute, has approved the release of Exposure Draft of Revised Cost Accounting Standard – 2 on Capacity Determination (CAS – 2). The proposed standard may be modified in light of comments received before being issued as a standard in final form.
A key Parliamentary Committee will adopt tomorrow the crucial report on Direct Taxes Code (DTC) Bill and recommend raising the income tax exemption limit to Rs 3 lakh from Rs 1.8 lakh at present. the Standing Committee on Finance, headed by former Finance Minister and senior BJP leader Yashwant Sinha, will discuss the final draft of the report on the DTC Bill during its day-long meeting tomorrow.
Only the name of the import item (input) is modified from ‘Antimony Dioxide/Oxide’ to ‘Antimony Trioxide’. There is no change in either the description or quantity of the inputs or in the description of the export product.
9th February, 2012 – No.13-CA (EXAM)/CPT/ June/2012: In pursuance of Regulation 22 of the Chartered Accountants Regulations, 1988, the Council of the Institute of Chartered Accountants of India is pleased to notify that the Common Proficiency Test (Paper- Pencil Mode) will be held on Sunday, 17th June, 2012 in two sessions as below, at the […]
Circular No. 151/2/2012-ST Many issues have been referred by the field formations, in the recent past, seeking clarification regarding the levy and collection of service tax on construction services [clauses (zzq),(zzzh) of section 65(105) of the Finance Act, 1994], in the light of varying business models. Across the country, divergent business models and practices are being followed in the construction sector. Some of these business models and practices could be region specific.
Help Line desk has been established by ICAI in the Examination Division of the Institute to attend to students’ queries relating to CA Final, IPCC , PCC and other examination conducted by ICAI on Examination matters including admit card. The telephone numbers of the ‘Help Line desk’ are given below:
As per the extant ECB procedures, requests for reduction in the amount of ECB, changes in the drawdown schedule and reduction in the all-in-cost of the ECB after obtaining the loan registration number (LRN) is required to be referred by the bank concerned to the RBI for necessary approval. Simplifying norms for overseas borrowers, the RBI today said they will no longer require its approval to raise an amount lesser than sanctioned ECB as the power to authorize the same has been delegated to banks.
