The insurers carrying out Life, General and Health insurance business need to value their insurance business liability every year by Appointed Actuary of the insurer. This is also applicable to the Reinsurers operating reinsurance business. As per the existing Assets, Liabilities and Solvency Margin Regulations the Appointed Actuaries of the insurers are solely responsible for the insurance liability number incorporated in the Balance Sheet.
It is understandable that in the course of implementation of such a radical policy change, there will be teething troubles and unanticipated problems. This does not mean that the policy changes should be rejected.
ICAI’s Contribution to GST Implementation – An Update- Despite teething and procedural issues and system glitches in the GST implementation, the biggest economic reform is having an impact in business.
The Central Bureau of Investigation has arrested a Senior Tax Assistant, Income Tax Office, MVP Colony, Visakhapatnam for demanding and accepting a bribe of Rs.30,000/- from the complainant. CBI registered a case U/s. 120-B of IPC and Sec. 7 & 13(2) r/w 13(1)(d) of PC Act, 1988 against the accused on the allegations of demanding […]
OECD has released updated and new IT-tools and guidance to support the technical implementation of the exchange of tax information under the Common Reporting Standard (CRS), on Country-by-Country (CbC) Reporting and in relation to tax rulings (ETR). In relation to CbC Reporting pursuant to BEPS Action 13, the updated CbC XML Schema and User Guide […]
On account of implementation of GST w.e.f. 1st July, 2017, there may be instances where the retail sale price of a pre-packaged commodity is required to be changed.
FM: Income Tax Department takes various initiatives to bring about efficiency, transparency, and fairness in Tax Administration; Government is committed to widen the tax base by encouraging and incentivising the new tax payers; Number of tax payers increased significantly from 4.72 crore in financial year 2012-13 to 6.26 crore during the Financial Year 2016-17;
Applicant must possess the educational qualification M.COM / CA / ICWA / CS from a recognized institution/ University (as on 1st Jan 2017 as per Recruitment Rule of BSNL). The Candidates having qualification M.COM/CA/ICWA/CS from a recognized institution/University shall only be able to appear in the online examination
The Central Bureau of Investigation has today arrested an absconding Deputy Commissioner of Customs, Mundra in an on-going investigation of a case relating to alleged bribery of Rs. 20 lakh.
Mumbai: ICICI Bank, India’s largest private sector bank by consolidated assets, today announced the launch of a new home loan, which offers borrowers the benefit of 1% cashback on every EMI, for the entire tenure of the loan. A unique offering in the industry, it is available for home loans with a minimum tenure of 15 […]
