Financial News India: Read all the latest finance news on credit card, online payment, bank loan interest rate, scams, GDP growth Inflation, Saving schemes, PPF, NSC, KVP Bank, FD calculators ULIP IIP numbers
Finance : Section 10(10D) provides exemption only when premium limits are within prescribed thresholds. If premiums exceed these limits, mat...
Finance : The overview explains how India’s banking system is organised across public, private, and specialised banks under RBI supervisio...
Finance : This case explains the importance of using SIP calculators for estimating mutual fund returns. It highlights that such tools provi...
Finance : Jammu & Kashmir is rapidly transforming into a major investment destination with strong economic growth. The region offers diverse...
Finance : The development focuses on expansion of trading services in India. The company is enhancing access, support, and education to meet...
Finance : The agreements introduce structured protocols for intelligence sharing and monitoring compliance under PMLA. The ruling highlights...
Finance : The authority identified inconsistent SAC usage across IFSC units, impacting data reliability. It proposes standardised classifica...
Finance : The Government clarified that despite rupee depreciation, strong forex reserves and export competitiveness offset risks. The overa...
Finance : The Government is actively reviewing the economic impact of the West Asia conflict on oil prices and supply chains. Coordinated me...
Finance : The recognition is based on alignment with global regulatory frameworks like PFMI. The ruling highlights India’s commitment to i...
Finance : The issue was whether indemnity obligations arise only after final appellate confirmation. The Supreme Court held that liability a...
Finance : The issue was whether a succession certificate granted without impleading a minor heir was valid. The Supreme Court set aside the ...
Finance : Relying on Supreme Court precedents, the Court held that economic offences involving public money cannot be quashed unless no offe...
Finance : Supreme Court held High Courts cannot use Article 227 to strike off a plaint when CPC remedies exist; suit restored and defendants...
Finance : The ruling emphasizes that registering numerous FIRs in mass fraud cases is unnecessary and burdensome. Courts must focus on wheth...
Finance : The circular prohibits fiduciaries from providing multiple services to the same scheme to avoid conflicts. It ensures independent ...
Finance : IFSCA requires PSPs to obtain approval before joining Rupee Drawing Arrangements. The rule ensures strict adherence to AML, KYC, a...
Finance : IFSCA has revamped reporting norms with updated formats and new intermediary categories. The circular mandates quarterly reporting...
Finance : Pension funds must provide detailed disclosures, reports, and grievance redressal systems. Subscribers gain access to transparent ...
Finance : The circular addresses the need for standardized regulatory knowledge among intermediaries. It mandates certification for key pers...
The finance ministry has agreed on a one-year moratorium on repayment of term loans taken by textile units for technology upgrade. The move will benefit domestic textile manufacturers, which are facing falling profitability due to slowing demand for their products. “The department of financial services and finance secretary (Arun Ramanathan) have agreed to loosen the […]
In a bid to overcome the menace of home loan frauds, the Indian Banks’ Association (IBA) proposes to set up a committee to work out the modalities for establishing a central electronic registry that will list all mortgages created by deposit of title/sale deeds with banks.
The upcoming general elections could take its toll on the bottom lines of a host of Indian companies that have accessed overseas debt. The Institute of Chartered Accountants of India (ICAI) has deferred a decision on relaxing accounting standard 11 (AS 11), which mandates mark-to-market (MTM) provisioning in the profit and loss account for foreign […]
The Council of the Institute of Chartered Accountants of India at its 286th meeting held on March 8, 2009 cleared two more Standards on Auditing (SAs), i.e., Revised SA 500, Audit Evidence and SA 720, The Auditor’s Responsibility in Relation to Other Information in Documents Containing Audited Financial Statements in the direction of enhancing the […]
If you are in the armed forces, pay your taxes on time or you may be asked to hang up your boots. The Supreme Court has upheld a decision of the Indian Air Force (IAF) to retire an officer for delayed payment of property tax. A bench headed by Justice Arijit Pasayat did not find […]
The Institute of Chartered Accountants of India (ICAI) has approached the Finance Ministry and the Reserve Bank of India (RBI), seeking a reversal of their decision to liberalise the system for appointment of statutory branch auditors by public sector banks (PSBs). Until three years ago, RBI allotted such branch auditors, based on a panel of […]
The Council in its 281st meeting held from 3rd to 5th October, 2008 decided that an internal auditor of an assessee, whether working with the organization or an independently practicing Chartered Accountant being an individual chartered accountants or a firm of chartered accountants, could not be appointed as his tax auditor. The said decision came […]
Auditors may get powers to refuse signing a company’s accounts if these are not found to be in order. A special group constituted by the Institute of Chartered Accountants of India (ICAI), the statutory body regulating the profession in India, is veering round to the view that the institute should push for statutory backing to […]
The merger of Reliance Pertroleum (RPL) with Reliance Industries (RIL) is the latest in a long string of amalgamations and mergers that have taken place over time in the Reliance group. As per the arrangement announced by RIL, RPL shareholders of RPL will get one share of RIL for every 16 RPL shares held by […]
Exports of garments and all leather items to the European Union and the US from April 1 this year will be entitled to a two per cent incentive from the Government. This incentive will be available for exports up to the end of September 2009. They will come in the form of duty-free credit scrips […]
