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Finance : This guide explains why senior travellers should review travel insurance coverage, organise medical records, and plan ahead before...
Finance : The article explains how local Indian phone numbers enhance credibility and accessibility for international businesses. It highlig...
Finance : The article explains how borrowing within your affordability and understanding total loan costs can make loan management easier. I...
Finance : The article examines how ATMs are facing cash shortages even though currency circulation is at an all-time high. It argues that ba...
Finance : mployers are increasingly migrating retirement savings from superannuation trusts to NPS due to lower costs, greater flexibility, ...
Finance : The Government has exempted interest and capital gains earned by FPIs on Government securities from income tax with effect from 1 ...
Finance : The Ministry of Finance has introduced a unified portal to help individuals search for unclaimed bank deposits, insurance claims, ...
Finance : The IFSCA clarified that retrocession and retention requirements apply to the entire gross reinsurance premium of IFSC Insurance O...
Finance : The authority observed that except life insurance, other insurance segments under IFSCA regulations align with the statutory defin...
Finance : The Ministry of Finance clarified that claims regarding monetisation of temple gold holdings or issuance of gold bonds to temples ...
Finance : The Supreme Court ruled that vicarious liability under the NI Act cannot arise solely from holding an office in a society or compa...
Finance : The Supreme Court refused relief to borrowers who defaulted from the very first instalment after availing an ₹8.09 crore loan. T...
Finance : The Supreme Court upheld a Will executed in favour of the testator’s sister despite objections from his wife and children. The C...
Finance : The Supreme Court held that insolvency proceedings under the IBC cannot be invoked merely to recover disputed dues arising from co...
Finance : The issue was whether indemnity obligations arise only after final appellate confirmation. The Supreme Court held that liability a...
Finance : IFSCA clarified that a common brand name by itself is sufficient to establish a Group Entity relationship under the ship leasing f...
Finance : IFSCA has consolidated multiple regulations and circulars into a single Master Circular for Stock Exchanges and Clearing Corporati...
Finance : IFSCA has introduced a standardized ACAR and ACAC reporting framework for Capital Market Intermediaries in IFSCs. The circular aim...
Finance : IFSCA has warned regulated entities that advanced AI models can accelerate cyberattacks by rapidly identifying and exploiting vuln...
Finance : The International Financial Services Centres Authority clarified that existing ASPs and TechFin entities continuing operations und...
According to AS 7 Construction Contracts, contract revenues are measured at the consideration received or receivable. The standard recognizes that the measurement of contract revenue is affected by a variety of uncertainties that depend on the outcome of future events. In the case of foreign currency revenue, one of the uncertainties pertains to exchange rate that will apply at the revenue recognition date. Similarly, in the case of foreign currency contract costs, the estimate of costs to be incurred considers the future exchange rates.
The Government today said that PPF accounts of Hindu Undivided Families (HUFs) which were closed down between May 2005 and December 7 last year would get 8 per cent interest on the deposits. The Finance Ministry has issued the clarification in view of the doubts raised with regard to payment of interest on Public Provident Fund (PPF) accounts held by the HUFs beyond the maturity period.
aragraph 10 of AS 19 Leases requires the lease classification to be made at the inception of the lease., It further states that ,…If at any time the lessee and the lessor agree to change the provisions of the lease, other than by renewing the lease, in a manner that would have resulted in a different classification of the lease … the revised agreement is considered as a new agreement over its revised term. Changes in estimates (for example, changes in estimates of the economic life or of the residual value of the leased asset) or changes in circumstances (for example, default by the lessee), however, do not give rise to a new classification of a lease for accounting purposes.,
AS 16 Borrowing costs defines a ‘qualifying asset’ as an ‘asset that necessarily takes a substantial period of time to get ready for its intended use or sale.’ It also clarifies that ordinarily, a period of twelve months is considered as a substantial period of time unless a shorter or longer period can be justified on the basis of facts and circumstances of the case. In this case, the manufacture of each aircraft involves a normal time period of 24 to 30 months. Therefore, the aircraft is a qualifying asset under AS 16.
India has emerged among the four fastest wealth creator countries in the world and its growth momentum is expected to gather further steam going forward, a global study has said. In its annual Global Wealth Report, management consulting firm Boston Consulting Group has listed the US, China, the UK and India as the nations showing the largest absolute gains in wealth in 2010.
Pension regulator, PFRDA, today said that it would like to maintain the 50 per cent limit on investment in equities for the new pension fund, regardless of the recommendation of the Bajpai committee. We think that at the current stage of pension market in the country, investing more than 50 per cent in equities is not going to be fair to investors in terms of the risk that has to be taken, and therefore, we tend to retain the cap at 50 per cent, Pension Fund Regulatory and Development Authority (PFRDA) Chairman, Mr Yogesh Agarwal, said on the sidelines of the 26th Skoch Summit here.
Union Finance Minister Shri Pranab Mukherjee said that the success of fiscal policy is closely tied with optimal utilization of public resources. He stated that numerous factors make expenditure reforms an extremely challenging and uphill task. There is significant scope to reform the expenditure policy of the Government for rationalization of public spending, the Minister added.
Country’s largest insurer LIC today announced launch of health insurance plan Jeevan Arogya which offers comprehensive hospitalisation benefits for the whole family. A unique feature of this plan is that it also offers to cover the parents in-law of the policy holder besides spouse, minor children and parents, LIC said in a statement.
Media conglomerate Sun TV Network and low-cost air carrier SpiceJet nosedived on the bourses, amid reports that Dayanidhi Maran — the brother of the owner of both the companies — was named in a public lawsuit over the 2G spectrum scam.
A Delhi court on Thursday dismissed pleas for a direction to the CBI to make Reliance ADAG chairman Anil Ambani , Tata group Chief Ratan Tata , corporate lobbyist Niira Radia and DMK chief M Karunanidhi’s wife Dayalu Ammal , as accused in the 2G spectrum scam.
