Introduction of Basic Savings Account under Post Office Savings Account Rule 1981 to facilitate opening of Zero Balance Accounts by beneficiaries of any Government Welfare Scheme-regarding.
Ensure compliance with the Sarbanes-Oxley Act through strict financial reforms and improved disclosures. Protect investors from accounting fraud.
The new Service Tax regime has not only impacted the practicing professionals of service tax and business entities but it also impacted the professionals who are discharging audit function. Paragraph 4 (ix) (a) of Companies (Auditor’s Report) Order, 2003 requires an auditor to report, whether the company is regular in depositing undisputed statutory dues including […]
Liaison office is in the nature of representative office set up primarily to explore and understand the business and investment climate. It is not permitted to undertake any business activity, directly or indirectly, and is required to maintain itself out of inward remittances received from parent company through normal banking channel. Generally speaking
Every dealer who effects inter-state sale is required to register with State sales tax authorities who are empowered to grant registration under CST Act. Application should be in form ‘A’. Security has to be furnished. Certificate of registration will be in form ‘B’.
The said Regulations provide for a comprehensive regulatory framework for public issuance of non-convertible redeemable preference shares and also for listing of privately placed redeemable preference shares. Further, as per Basel III norms, Banks can issue non-equity instruments such as Perpetual Non-Cumulative Preference Shares and Innovative Perpetual Debt Instruments, which are in compliance with the criteria specified by RBI for inclusion in Additional Tier I Capital. The Regulations shall also be applicable to such instruments issued by banks.
PTI has reported on 09.06.2013 that Union Finance Ministry has raised the audit limit for Statutory Audit of nationalised bank branch from Rs 20 crore to 50 crore turnover for financial year 2013-14. Extract of News received from PTI is as follows :- Union Finance Ministry has raised the audit limit of nationalised bank branch […]
The Directorate of Income Tax (PR , PP & OL) has produced a twelve episode quiz show on NDTV 24 x 7 called “Tax Your Brain” with a view to communicate with the school children and youth of the country on the “need for taxation in civil society”. The quiz show will feature 32 teams […]
BBC World News Channel will telecast a story on Income Tax Collections in India at 11 am and 10 pm on Sunday, 9th of June, 2013, and at 6 am on Monday, 10th of June, 2013, as part of India Business Report Show. The story will also be telecast on Monday, 10th of June, 2013, […]
