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Law Commission recommends uniform age of marriage for both boys and girls

March 12, 2011 835 Views 0 comment Print

Age of Marriage The Law Commission of India in its 205th Report had made recommendation for a uniform age of marriage of 18 years for both boys and girls. However, the Government is of the view that the difference in the age of marriage (21 years for boys and 18 years for girls) was deliberately inserted in the statutes in view of the social realities.

Number of working days in Courts governed by the rules framed by the respective Courts

March 12, 2011 696 Views 0 comment Print

The working days in the High Courts are regulated by the rules framed by the respective Courts. According to available information, all High Courts in the country normally have 210 working days in a year. The number of working days of the District/Subordinate Courts are regulated by the concerned High Court. However, no data about the number of working days in the lower courts is maintained Centrally.

ICAI Online Journal (March 2011)

March 12, 2011 2697 Views 0 comment Print

Download ICAI Online Journal for the Month of March 2011.

SEBI bans 3 independent directors of Pyramid Saimira for 2 yrs

March 12, 2011 1343 Views 0 comment Print

Marker regulator SEBI today barred three independent directors and members of audit committee of Pyramid Saimira from holding a similar position in any listed company for two years for giving false and misleading statements.

ED seeks 14 days remand of Hasan Ali, cites national security

March 12, 2011 525 Views 0 comment Print

After being rapped by a local court for not doing its “homework”, the Enforcement Directorate today took the line that “certain links” of Hasan Ali Khan needed to be probed as it has a bearing on “national security” and pressed for his 14-day custodial interrogation.

Judgement of the AP High Court on the principles for dispensation of pre-deposit pending appeal in Service tax matters

March 12, 2011 11303 Views 0 comment Print

The respondent runs various coaching centers in Andhra Pradesh and other States in India.The respondent’s activity of commercial training or coaching service attracts levy of service tax under Section 65(26) and Section 65(27) read with Section65(105)( zzc ) of the Finance Act, 1994 (henceforth referred as „the Act‟). After coming into force of the amendment to Section 65(1 05)(zzc) of the Act, in spite of advice by the Revenue, the Respondent did not obtain registration. The Respondent informed the Range Officer that there was no legal obligation to obtain registration under service tax. However, the respondent belatedly obtained Centralized Service Tax registration.

Chinese Companies Want the Big 4 Magic

March 12, 2011 1454 Views 0 comment Print

“Companies are under pressure from investors to get the best auditor they can,” said Paul Gillis, an accounting professor at Peking University in Beijing. More than 200 Chinese companies are listed on U.S. exchanges, and hundreds more trade on over-the-counter bulletin boards. In the last five months, at least 15 have upgraded to a Big Four auditor — Deloitte, Ernst & Young, PricewaterhouseCoopers or KPMG — from a smaller firm, according to an analysis from Audit Analytics.

Write your mobile numbers on claim forms and get your P.F. claim status on mobile

March 12, 2011 2359 Views 0 comment Print

EPFO has launched a SMS based service for the benefit of all stakeholders. While submitting your claims, write your mobile number on top of the form. Attach a clear photocopy of first page of your bank passbook. A SMS will be sent to the mobile number about the status of your claim.

Penalty Provision in respect of delay in payment of P.F. dues

March 12, 2011 227688 Views 28 comments Print

Delay in deposit of P.F. dues attracts penal damages. Damages are levied at the following FLAT RATES: * For 0 — 2 months delay – @ 5 % p.a. * For 2 — 4 months delay – @10 % p.a. * For 4 — 6 months delay – @ 15 % p.a. * For delay above 6 months – @ 25 % p.a. (subject to a maximum of 100%)

Service Tax : Service Tax (Determination of Value) Amendment Rules, 2011 – Insertion of rule 29 – Corrigendum to Notification No. 2/2011-ST, dated 1-3-2011

March 12, 2011 2699 Views 0 comment Print

In the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 2/2011-Service Tax, dated the 1st March, 2011 published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (i) vide number G.S.R. 159(E), dated the 1st March, 2011, at Example I,

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