The Karnataka high court has directed IT bellwether Wipro Ltd to deposit Rs 24 crore (Rs 240 million) by Wednesday evening in a case of tax on re-export of software, a company official admitted. As the company did not comply with the court’s order of
The government has mandated cost audits for over 100 companies, covering a host of sectors including pharmaceuticals , fertilisers , steel and petroleum . Cost audit, which is a system of government scrutiny into a company’s production cost and profi
Display of logo for promoting a brand not taxable under Business Auxiliary Services but Promotion of Brand of Goods, services, events, business entity, etc. w.e.f. 01.07.2010.
The accounting regulator, Institute of Chartered Accountants of India (ICAI), has taken strong exception to the corporate sector’s demand for deferring the implementation of the International Financial Reporting Standards (IFRS). It feels that the ac
We are pleased to inform you that the IIM Kozhikode has recognized Chartered Accountancy qualification as an eligibility to pursue their Doctoral programme i.e. Fellow Programme in Management. We invite members interested in pursuing Doctoral progr
If ever there is anything like a good year to die in, it is 2010 — but only if you are a millionaire US citizen. America’s ‘death tax’, which was repealed in 2010, is set to be introduced in the New Year. Formally called the estate tax, it is levied
Rejection of E-TDS / TCS Return – Common errors and course of action for Regular and Correction Returns a. What is course of action in case a regular statement is rejected? A. Please refer to Course of action – regular rejection given below for the
In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Government of India in the Ministry of Finance
KYC-Compliance: CDSL Ventures (CVL), a wholly-owned subsidiary of Central Depository Services-India (CDSL), has been appointed by the mutual fund industry to do KYC verification of investors. So, an investor needs to submit the following mandatory do
The Central Vigilance Commission has directed the Municipal Corporation of Delhi to investigate and report its findings on a total of 30 complaints of alleged corruption. Besides it has imposed major penalty against 138 officials of several central g
