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Bharatiya Mahila Bank, India’s first all-women bank, opens

November 20, 2013 3121 Views 0 comment Print

India on Tuesday got its first all-woman bank, which will be universal in nature, with Prime Minister Manmohan Singh launching the Bharatiya Mahila Bank as a small step towards empowerment of women.

SEBI issues Discussion Paper on ‘Review of guidelines governing stock related employee benefit schemes’

November 20, 2013 568 Views 0 comment Print

The SEBI has issued this discussion paper for public comments to replace the SEBI (ESOS & ESPS) Guidelines, 1999. The proposed guidelines are issued to provide for a regulatory framework for all kinds of employee benefit schemes

CBI arrests Income Tax Official and Consultant for demanding bribe from complainant

November 20, 2013 2547 Views 0 comment Print

The Central Bureau of Investigation has arrested an Office Superintendent of Income Tax and Tax Consultant for demanding & accepting a bribe of Rs.20,000/- from the Complainant.

Services on which SEZ may claim exemption from Service Tax

November 19, 2013 11243 Views 3 comments Print

Uniform List of Services To Be Followed in SEZs – Representations have been received for inclusion of more services in the list of default authorised services. The matter was considered during the DC meeting held on 7th November, 2013 and it has been decided that following two more services may be included in the list of default authorised services:-

MCA clarification on applicability of Section 372A of of Companies Act, 1956

November 19, 2013 8595 Views 3 comments Print

Consequent to notification of Sec 185 of Companies Act 2013 (dealing with loans to directors) and which is corresponding to Section 295 of the Companies Act, 1956, MCA has received several representations. Section 186 of the Companies Act, 2013 is yet to be notified.

Section 144C of Income Tax Act,1961 applies to every order passed on or after 01-10-09

November 19, 2013 29618 Views 2 comments Print

Section 144C has been inserted with effect from 1st April, 2009. Accordingly, the Assessing Officer is required to forward a draft assessment order to the eligible assessee, if he proposes to make, on or after the 1st day of October, 2009, any variation in the income or loss returned which is prejudicial to the interest of such assessee.

Delhi VAT- FAQs- enforcement survey/inspection of business premises

November 19, 2013 1533 Views 0 comment Print

Surveys are conducted to verify whether all transactions being made by a dealer are being faithfully reported by the dealer and whether due tax is being deposited on all such transactions. Under section 59 of the DVAT Act, 2004

HC ask ICAI to Provide writers for disabled students

November 19, 2013 2211 Views 0 comment Print

The petitioner before this Court is a differently abled person, being visually impaired. She is pursuing Chartered Accountancy Course under the aegis of respondent no.1 – The Institute of Chartered Accountants of India (hereinafter referred to as ‘ICAI’).

Registration of FIR is mandatory -SC

November 19, 2013 3641 Views 0 comment Print

Registration of FIR is mandatory under Section 154 of the Code, if the information discloses commission of a cognizable offence and no preliminary inquiry is permissible in such a situation.

Opinion on Section 2(2)(iv) of the Cost and Works Accountants Act, 1959 as amended

November 19, 2013 2199 Views 0 comment Print

Resolved that pursuant to Section 2(2)(iv) of the Cost and Works Accountants Act, 1959 as amended, the Council of the Institute hereby opines that a member shall be deemed to be in practice if he

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