To enhance transparency in Stock market tradings, the Bombay Stock Exchange will provide SMS of transaction details to mobile phones and Email accounts of investors from today.
The Ministry of Corporate Affairs vide its General Circular No. 16/2012 dated 6 July, 2012 has mandated select class of companies to file their Balance Sheet and Profit & Loss Account and other documents with the Registrar of Companies for the financial year commencing on or after 01.04.2011 in XBRL mode without any additional fee/ penalty upto 15th November, 2012 or within 30 days from the date of their AGM, whichever is later.
MCA Front offices situated at Delhi , Chennai , Mumbai and Kolkata are being discontinued with effect from Monday, the 8th of October, 2012 , and hence, will not be available to offer any assistance to MCA stakeholders. Kindly plan your activities accordingly.
Gross direct tax collection during first six months of current financial year was up by 5.87 percent at 2,72,133 crore rupees. It was over 2,57, 000 crore rupees in the same period last year. While gross collection of corporate taxes increased to 1,78,173 crore rupees from 1,75,360 crore rupees and gross collection of personal income tax was up by 14.87 percent.
Vide Finance Act, 2012, certain retrospective amendments were made in Income-tax Act, 1961 (hereinafter referred to as the Act), intended to clarify and restate the legislative intent of the source rule of taxation for non-residents in India. In particular, they addressed situations where transfers took place exclusively between such non-residents—hence indirectly—of underlying assets in India. The relevant section 9(1)(i) of the Act became effective retrospectively as of 01 April 1962.
This has reference to emails being received by the Institute about the Finance Ministry’s latest circular dated 26th September, 2012 containing general guiding principles on Internal Audit, Information System, Concurrent and Branch Statutory Audit to be followed by all the PSBs suitably.
A former Customs and Border Protection officer who admitted groping three female passengers at Miami International Airport was sentenced to 33 months in federal prison on Thursday.
In the analysis of price performance of the scrips listed during 2008 to 2011, it was observed that out of 117 scrips, 72 (around 62% issues) were trading below the Issue price after 6-months of their listing. Out of those 72 scrips which witnessed fall in price, in 55 scrips the fall was more than 20% of the Issue price. In this scenario if the trend continues, the sentiments of the investors would get affected and they may lose confidence in the capital market. Thus, there is a need to provide Safety Net arrangement for RIIs to build their confidence in capital market.
The Final Validation Tool and subsequent XBRL filings of financial statements for F.Y. 2011-12 on MCA website would be enabled with effect from 14th October, 2012.
Voluntary Guidelines for Companies for providing general information on their websites about the company to promote good corporate governance and to enhance investors’ awareness
