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Last date of Online Submission of Application of CA Firms for PSU Audits to C&AG has been extended to 20.02.2009.

February 12, 2009 480 Views 0 comment Print

Last date of Online Submission of Application of CA Firms for PSU Audits to C&AG has been extended to 20th February 2009. Note: Last Date for Submission of Document is kept unchanged at 27.02.2009. Related Post:- 1. EMPANELMENT OF CHARTERED ACCOUNTANT FIRMS FOR THE YEAR 2009-2010

New Procedure for Appointment of Branch Statutory Auditors in Public Sector Banks for the Year 2008-09

February 12, 2009 1255 Views 0 comment Print

1. The large PSBs having balance sheet size (assets + liabilities) of above Rs. 1 lac crore each to exercise managerial autonomy in regard to appointment of SBAs also from the year 2008-09 onwards. Thus, State Bank of India, Allahabad Bank, Bank of India, Bank of Baroda, Canara Bank, Central Bank of India, Indian Overseas […]

Notification No. 13/2009-Custom Duty Dated: 11th February, 2009

February 11, 2009 598 Views 0 comment Print

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 21/2002-Customs, dated the 1st March, 2002 which was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide G.S.R. 118 (E) of the same date, namely

Notification No. 02/2009-Central Excise; Dated: 11.02.2009

February 11, 2009 1069 Views 0 comment Print

The principal notification No. 8/2003-Central Excise, dated the 1st March, 2003 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 138(E), dated the 1st March, 2003 and was last amended by notification No. 47/2008- Central Excise dated the 1st September, 2008 which was published in the Gazette of India, Extraordinary vide number G.S.R. 629(E), dated the 1st September, 2008.

Classification of tea admixture containing rice flour, tapioca, vitamins, etc – regarding

February 11, 2009 496 Views 0 comment Print

A dispute has been brought to the notice of the Board regarding classification of ‘tea’ fortified with micronutrients and with tapioca, jaggery, chicory, rice flour and vitamins. These additives may be to the extent of 30% with the remaining part being tea. Doubts have been raised as to whether such an admixture is classifiable under chapter 9 as flavoured tea or as a preparation with a basis of tea under chapter 21.

Importability of items where import restrictions have been removed vide Notification No.81 dated 16.1.2009

February 10, 2009 355 Views 0 comment Print

Representations have been received seeking a clarification on clearance of import consignments of items where restrictions have been removed vide Notification No.81 dated 16.1.2009. The consignments in question were said to be imported during the period i.e. 21st November, 2008 and 16th January, 2009, when these items were restricted for imports.

Notification No 12/2009-Custom Duty, Dated: 10.02.2009

February 10, 2009 553 Views 0 comment Print

The principal Notification No.21/2002 Customs, dated 1st March 2002 was published in the Gazette of India, Extraordinary, Part II, Section3, Sub- section (i) vide G.S.R.118 (E) dated the 1st March 2002 and was last amended by notification No11./ 2009-Customs dated the 3rd February 2009 published in the Gazette of India, Extraordinary, Part II, Section3, Sub-section (i) vide number G.S.R.71 (E), dated the 3rd February 2009.

ICAI panel pulls up auditor in GTB case

February 10, 2009 504 Views 0 comment Print

The disciplinary committee of the Institute of Chartered Accountants of India (ICAI) has concluded that the chartered accountant who audited and certified the balance sheet of the Global Trust Bank (GTB) for the financial year 2000-01 is guilty of professional misconduct.

SEBI : Review of Annual Issuers’ charges

February 10, 2009 910 Views 0 comment Print

bring the provisions of this circular to the notice of the DPs of the Depositories and the issuers whose securities have been admitted into the depositories and also to disseminate the same on the website.

There exist no provision in section 56(2)(v) of IT Act to treat loans, which may not be repaid, as income of assessee

February 10, 2009 1215 Views 0 comment Print

11. We have considered the submissions made by both the parties, material on record and orders of the authorities below. It is noted that the assessee is an individual and aged about 50 years. The assessee has income from salary and other sources both aggregating to Rs. 2.62 lakhs. It is also noted that the assessee was received salary from M/s Nav Bharat Education Society where he is working as a senior clerk

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