BJP leader Arun Jaitley on Friday advocated hike in income tax exemption limit, enhancement of excise limit for small industrial units up to Rs 5 crore and immediate implementation of the Goods and Service Tax (GST) to help expand economic activity in the country. He said that The current income tax exemption for income of […]
Minutes of the meeting with MCA held on 3rd April 2014 A delegation of the following council members, Secretary of the Institute and four representatives of other member company secretaries had a very detailed deliberation at 3 p.m. on 3rd April 2014 with Mr. M. J. Joseph, Additional Secretary and Ms. Renuka Kumar, Joint Secretary […]
The Designated Court at Kolkata has remanded three days police custody to A M Sahay, Commissioner of Central Excise, Kolkata-II Commissionarate and two private persons in a bribery case yesterday. In this case, the CBI has arrested seven accused i.e. three at Kolkata and four at Mumbai. The Competent Court at Mumbai has given two […]
COMMUNICATION Dear Members and Students of the Institute of Company Secretaries of India, I am very happy to inform you that a delegation comprising the following had a very meaningful dialogue with the Hon’ble Minister for Corporate Affairs (Independent Charge), Shri Sachin Pilot in the late night (11 .55PM) of 4th April, 2014 at Kekdi […]
The banking industry in India has a huge canvas of history, which covers the traditional banking practices from the time of Britishers to the reforms period, nationalization to privatization of banks and now increasing numbers of foreign banks in India. Therefore, the banking industry in India has been through a long journey and has also […]
The Council is extremely pained at the provisions in rules notified under the Companies Act, 2013. It shares the concerns of the members and students fully. The rules are substantially different from the draft rules. The draft rules provided for applicability of certain critical provisions of the Companies Act, 2013 to all companies, private or public. The notified rules have excluded private companies from application of those provisions of the Act.
Ministry of Finance, Government of India has pronounced the DTC, 2013 along with DTC Bill, 2010 is placed on http://incometaxindia.gov.in, inviting public comments. A write-up on the significant changes in the proposed DTC, 2013 is also placed on the website. The report of the Standing Committee on Finance is available at the http://loksabha.nic.in.
I am happy to inform that after several persuasions for long years by the Institute, the name of Cost Accountant have been included in the definition of Accountant in the Direct Tax Code , 2013 which intend to consolidate the law relating to Income Tax and wealth Tax hosted for public comments.
Clarification on prohibition of simultaneously undertaking Concurrent Audit and Quarterly Review of the same Bank. – (02-04-2014) Since queries are being received from members at large on the issue, it is accordingly hereby clarified that concurrent audit and the assignment of quarterly review of the same Bank cannot be undertaken simultaneously as the concurrent audit […]
It is clarified for general information of all concerned that: (A) Finance Act, 2013 shall be made applicable involving Assessment Year 2014-15 for the following papers in June 2014 and December 2014 terms of Examinations of the Institute:
