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Finance : Explore the International Financial Services Centres Authority (IFSCA) Regulations 2024, governing payment and settlement systems ...
Economic growth decelerates to 6.7 per cent in 2008-09 compared to 9 per cent in 2007-08 and 9.7 per cent in 2006-07. Per capita growth at 4.6 per cent. Deceleration in growth spread across all sectors except mining and quarrying; agriculture growth falls from 4.9 per cent in 2007-08 to 1.6 per cent 2008-09. Manufacturing […]
CIRCULAR NO. 5/2009 In supersession to all circulars and instructions of the Central Board of Direct Taxes (CBDT) issued on the above subject, the CBDT prescribes the following procedure to be followed before the Board for Industrial and Financial reconstruction (BIFR) and the Appellate Authority for Industrial and Financial Reconstruction (AAIFR) in respect of granting Income tax reliefs/concessions to be given to sick companies for its rehabilitation under the Sick Industrial Companies (SICA) Act, 1985.
The Employees’ Provident Fund Organisation will not be able to pay more than 8.5 per cent interest on PF deposits during 2009-10 as it has no reserves left following a Rs 139 crore (Rs 1.39 billion) deficit incurred last fiscal. “There are no reserves which could be used as alternative option for additional funds for giving […]
The country’s largest insurer Life Insurance Corporation, has decided to operationalise a system within two years that will allow policy holders to claim benefits and pay premium at any of its over 2,100 branches. “Premium payment can be done from anywhere in India. That’s what we have done it. Now claim payment we would like […]
The Budget Session of Parliament will commence from July 2 and the General Budget for 2009-10 will be presented to the Lok Sabha on July 6. The schedule for the Budget Session of Parliament was decided at a meeting of the Union Cabinet chaired by Prime Minister Manmohan Singh in New Delhi on Monday. The Railway […]
Accounting guidelines on carbon credits will come into force from July 1. “The Council of the Institute of Chartered Accountants of India (ICAI) has scheduled a meeting between June 18-20 to approve the accounting guidelines on carbon credits,” S Santhana Krishnan, chairman, Accounting Standards Board, ICAI, told. Krishnan said that the guidelines will be made […]
NOTIFICATION NO S.O. 1404 (E), DATED 04-06-2009 In exercise of the powers conferred by section 53C read with section 53F of the Competition Act, 2002 (12 of 2003), the Central Government hereby appoints Dr. Arijit Pasayat as Chairperson of the Competition Appellate Tribunal with effect from 20th May, 2009 for a period of five years […]
Circular Ref. No. DGBA.CDD.H-10566/15.15.001/2008-09 Dated 5-6-2009 As you are aware, investors under Senior Citizens Savings Scheme, 2004 (SCSS) are eligible to file Form 15-G and 15-H to claim exemption from TDS on the interest payable on the deposits under the said scheme. 2. Central Board of Direct Taxes have now clarified, vide their Office Memorandum F.No.275/36/2009-IT(B) […]
Chartered accountants may soon see their world expanding with the government considering a proposal deploying them in the countryside to audit the finances of sarpanches, block development officers and other officials handling the United Progressive Alliance’s flagship National Rural Employment Guarantee Programme (NREGP).
Accounting for taxes on income – Accounting Standard 22 – Treatment of deferred tax assets (DTA) and deferred tax liabilities (DTL) for computation of capital CIRCULAR No.DNBS.PD/CC. No. 142/03.05.002, dated 9-6-2009 NBFCs were advised vide DNBS (PD) C.C. No. 124/03.05.002/2008-09 dated July 31, 2008 that in terms of Accounting Standard 22, the tax effects of […]