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Archive: 08 February 2017

Posts in 08 February 2017

RBI keeps policy repo rate unchanged at 6.25 percent

February 8, 2017 453 Views 0 comment Print

On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) decided to

Coverage of ECHS employees under EPF & MP act, 1952

February 8, 2017 2394 Views 0 comment Print

Govt. of India, Ministry of Defence formulated the Health care schemes for its ex-servicemen which is called ECHS. It is implemented by project organisation having its headquarters at Delhi and regional centres at different locations. The list is enclosed for ready reference, please.

Substitution of RBI nominee in NACAS

February 8, 2017 807 Views 0 comment Print

MCA Notification on Re-constitution of National Advisory Committee on Accounting Standards (NACAS)-Substitution of RBI nominee

Notification No. 10/2017-Customs (N.T.) dated 08.02.2017

February 8, 2017 1752 Views 0 comment Print

Central Board of Excise and Customs hereby invests in the officers specified in column (1) of the Table below, the powers of the Customs Officer of the rank specified in column (2) of the said Table,

SC orders attachment of Aamby Valley property in Sahara Case

February 8, 2017 1461 Views 0 comment Print

Learned counsel appearing for SEBI, submitted that the contemnors who own a property situate at Aamby Valley City, Pune, Maharashtra, would be sufficient for realization of whole amount.

Audit Firms approved for Central Statutory Audit in 25 PSBs for 2016-17

February 8, 2017 6519 Views 1 comment Print

Names of Audit Firms approved for appointment as Statutory Central Auditors in 25 Public Sector Banks for the year 2016-17 Sr No Auditors appointed for 2016-17 1. Allahabad Bank, Kolkata 1 M/s N C Banerjee & Co., Kolkata 2 M/s Kansal Singla & Associates, Chandigarh 3 M/s Raju & Prasad, Hyderabad 4 M/s De & […]

Financial Guarantees- IND-AS/ IFRS

February 8, 2017 24681 Views 2 comments Print

There are many situations in businesses where a Parent Company issues some kind of written piece of paper (we usually call it guarantee) to a lender on behalf of its Group Companies to provide assurance for repayment of loan in case of default.

Salaried Class – The Soft target for Income Tax Collections

February 8, 2017 32889 Views 37 comments Print

As earlier years, this year too salaried class had so much expectation from budget and as earlier years this year too they are disappointed after budget. No new deductions or no enhanced deductions, no rebate, no parity with self-employed/professionals (who are taxed on net income basis).

RBI permits payment of coupon on AT1 bonds from statutory reserves

February 8, 2017 4191 Views 0 comment Print

Basel III capital regulations are yet to be fully implemented. Total regulatory capital for Banks comprises of Tier 1 capital (Common Equity Tier 1 and Additional Tier 1) and Tier II capital. RBI has come up with yet another amendment widening the scope of ‘Distributable Items’ for making the coupon payments in case of Perpetual Debt Instruments (PDIs)

CBI registers case against CIT for DA; Searches offices of Some CAs

February 8, 2017 3240 Views 0 comment Print

CBI registers a case against commissioner of income tax and others for possession of alleged disproportionate assets. Searches were also conducted at the premises of some Chartered Accountants at Chennai and Surat who were allegedly associated with the said officer.

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