The Reserve Bank of India (RBI) has asked banks to review their existing policies for lending to micro and small enterprises (MSEs) and frame norms for restructuring sick units that are potentially viable. RBI also said that banks should frame policies on extension of credit facilities and non-discretionary One-Time Settlement (OTS) schemes for recovery of non-performing […]
The Ministry of Corporate Affairs has vide notification1 dated 31 March 2009 relaxed the provisions of Accounting Standard (AS) 11, The Effects of Changes in Foreign Exchange Rates2 in so far as they relate to the recognition of losses or gains arising on restatement of long-term foreign currency monetary items. By another notification3 consequential amendments to […]
Hon’ble Mr. Justice Dalveer Bhandari, Judge, Supreme Court of India The Learned Judge laments that the Income-tax Act is a “national disgrace”. He says that it is unfortunate that the law is so complex that even practising Lawyers and Judges have to employ Chartered Accountants or tax experts to file their income tax returns. He […]
In a landmark judgment Commissioner of Income Tax, Chennai Versus Chemplast Sanmar Limited – 2009 -TMI – 33295 – MADRAS HIGH COURT involving a question of law Honorable Court of Madras (Chennai) has upheld the decision of honorable Tribunal in the matter of CHEMPLAST SANMAR LTD. Versus DEPUTY COMMISSIONER OF INCOME TAX. Facts of the Case: Assessee is a […]
The Delhi High Court on Thursday directed the Institute of Chartered Accountants of India (ICAI) to provide students with certified copies of answersheets under the Right to Information Act. Justice S Ravindra Bhat dismissed contentions raised by the institute that answersheets fell beyond the purview of the RTI, holding that students were well within their rights to access them.
What is the New Pension System (NPS)? It is a system where individuals fund, during their work life, their financial security for old age when they no longer work. All those who join up would get a Permanent Retirement Account (PRA), which can be accessed online and through so-called points of presence (PoPs).
Don’t get annoyed if your destop throws a question at you: “At what time can I retire for the day? Some 56,000 desktops in Wipro have been asking this question for a couple of months daily at around 4.30 pm. The company has developed a special software programme and installed it on these workstations. It […]
The Institute of Chartered Accountants of India (ICAI) is pleased to welcome Small and Medium Chartered Accountancy Firms to the forthcoming Campus Placement Programme, Exclusively Structured for Small & Medium Chartered Accountancy Firms for newly qualified Chartered Accountants. It is now been more than a decade that the placement programme for newly qualified CAs has […]
The Convocation for the newly enrolled Members for the period from September, 2008 to February, 2009 will be held as per schedule given below with a view to inculcates a sense of belongingness and attachment with the Institute. Date & Day Region City 31st May, 2009 [Sunday] Western Region […]
1. These Guidelines are called Guidelines for Network amongst the firms Registered with The Institute of Chartered Accountants of India. 2. Definition. (i) Network – “Network amongst two or more firms means an arrangement to facilitate the better functioning of the affiliate member firms in the interest of the profession and not for acquisition of […]
