Considering the pressing need for more hospitals all over the country, it is proposed to include the business of a new hospital anywhere in India, with at least one hundred beds for patients, as a ‘specific business’ for availing the benefit of investment linked deduction.
Against the backdrop of multi-crore Satyam fraud, the accounting regulator ICAI has sought information from 150 chartered accountant firms, including multi-national corporations, to see whether they circumvented laws while providing auditing services in the country.
The Reserve Bank of India Act, 1934 (RBI Act) requires a Non-banking Financial Company (NBFC) undertaking inter-alia, the business of acquisition of shares, stock, bonds, debentures or other marketable securities to obtain a Certificate of Registration as a NBFC. Such entities are regarded as Investment Companies by the Reserve Bank of India (RBI) and regulated as such.
It is a fact that it is very rare to see a petition by a group of minority or majority under section 397/398 of the Companies Act, 1956 in listed Public Companies. As everybody knows a Company needs to get qualified as per SEBI (DIP) regulations and should satisfy other requirements before getting its shares listed over a stock exchange.
Telco has lost its trademark violation case against the Super Cassettes Industries in the Delhi High Court which allowed the electronics company to use letter ‘T’ in its T-SERIES mark, saying it was not its “monopoly”.
Annual Membership and Certificate of Practice fee for the year 2010-2011 became due for payment on 1st April 2010. The schedule of fee is as under: – For Members below age of 65 years Associate Membership Fee 600/-, Fellow Membership Fee 1800/-, Certificate of Practice Fee 1600/-
CBDT notifies New Income Tax Return Form SARAL II (ITR 1) for Assessment Year 2010-11 for Individuals having income from Salary/Pension/Income from One House Property (Excluding loss brought forward from previous years) / Income from Other Sources (Excluding winning from Lottery and Income from Race Horses). CBDT also notifies Income Tax Return Verification Form ITR-V for Assessment Year 2010-11 for SARAL II (ITR-1) ITR-2, ITR-3, ITR-4, ITR-5, ITR-6 & ITR-8 transmitted electronically without digital signature.
The government on Thursday said the accounting regulator ICAI has suggested that action can be taken against both erring audit firms and chartered accountants. The ICAI “has recommended to the government for amendments in the Chartered Accountants Act, 1949, so that action can be taken against firms of chartered accountants themselves, in addition to individual chartered accountants, for misconduct,” Corporate Affairs Minister Salman Khurshid told the Lok Sabha in a written reply.
The Institute of Company Secretaries of India (ICSI) plans to introduce post membership qualification courses in competition law as well as corporate restructuring and insolvency in the next six months. Addressing reporters here, Anil Murarka, vice president, ICSI said, “We are going to roll out two new courses for our members in the next six months- one in competition law and the other in corporate restructuring and insolvency.”
The Institute of Chartered Accountants of India (ICAI) has submitted the first part of its Report, after consideration by its Council, wherein the former has recommended to the Government for amendments in the Chartered Accountants Act, 1949, Rules and Regulations framed thereunder so that action can be taken against firms of chartered accountants themselves, in addition to individual chartered accountants, for misconduct.
