Finance - Page 388

29th January RBI Policy MEET

29th January is an important date. Now it’s not a red letter day or neither is any day the Indian history to be remembered. For financial market 29th of January remains a big day as the RBI will hold its much-awaited monetary policy. The whole Indian economy is keeping a close eye on the movement of the giant steps of RBI. It have been ...

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Validity of Assessment notices U/S 29 of PVAT for the year 2005-06 issued by department recently

The VAT Department in Punjab has started issuing the notices for assessment for the year 2005-2006 under section 29 of Punjab Value Added Tax Act 2005 to the dealers across the state. The notices u/s 29 of PVAT Act 2005 can be issued within 3 years from the last date for filling of Annual statement i.e VAT 20 of the year concerned or the ...

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Union budget for 2010-11 likely to be presented on February 26

The annual budget date is being advanced from the normal practice of being presented on February 28, because February 27 is a government holiday on account of Prophet Mohammad's birthday and February 28 is a Sunday. The Cabinet is expected to approve the date soon....

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Action against PWC may be taken after ICAI report

The ministry of corporate affairs(MCA) will take a call against the audit and accounting firm PricewaterhouseCoopers only after receiving the fact-finding reports of the Rs 10,000-crore Satyam accounting fraud from the Institute of Chartered Accountants of India (ICAI) on January 11, said MCA minister Salman Khurshid....

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Finance Ministry to review loan recovery practices and undervaluation of mortgaged properties during auctions

Also, there have been incidents where mortgaged properties were auctioned off at “undervalued” prices, the sources said. The meeting is to find out whether there was any actual mischief or if it was due to practical difficulties in finding a buyer to pay a higher value for the property as the registered value shown on paper would have...

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Government proposes ban on adjournments of proceedings in trademark cases

The directive was issued in December in the wake of mounting “indefinitely adjourned” cases, which stood at 150,000 in March 2009. On the heels of a key amendment that brings India’s intellectual property laws in line with international standards, the screws are being tightened on corrupt and inefficient officials who deal with trad...

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Internal audit and its social accountability

The World Bank defines accountability as the obligation of power-holders (those who hold political, financial or other forms of power) to take responsibility and answer for their actions. It defines social accountability as “the broad range of actions and mechanisms (beyond voting) that citizens and their organisations can use to hold s...

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Driver of Indian Economy

Infrastructure is the back bone of every economy. Infrastructure contributes a great deal too sustained economic development. Country with good infrastructure can be classified as a developed country whereas the other countries have little finance to spend on such luxuries and hence, keep struggling in the developing class of nations. Ind...

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New Decade of Mahindra and Mahindra

When Satyam collapsed and the buzz in the word was that this will be another winding up of the company as the situation demand. Moreover no one was there to remove the stains of corporate default and the broken corporate governance. The world economy was merged in to the problems of recession and India was struggling to make a come out fr...

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China's financial reform in 2010

When the Obama administration is launching a broad push for action on financial regulatory reform China is making a big leap towards changing its financial structure of its economy. They have planned to bring new reforms which will crown their financial market to new heights....

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