We wish to inform you that the Annual Licentiate Subscription for the year 2012 -13 became due for payment w.e.f. 1st April, 2012. The last date for payment of fee is 30th June, 2012. You are requested to please remit Rs.1000/- by demand draft/local cheque at par in favour of `The Institute of Company Secretaries of India’ payable at New Delhi on or before 30.06.2012.
In order to avoid the last-minute rush for customers paying their income-tax dues, the Reserve Bank on Friday said tax payers may use select branches of some public and private sector banks to remit their dues in advance. Some of the branches of State Bank of India, State Bank of Travancore, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, Allahabad Bank, Andhra Bank, Bank of India are authorized to accept payment of I-T dues either by cash or cheque, RBI said in a release.
The Government has tabled a strong Lokpal Bill in Parliament which has features that are more progressive than in any Bill tabled before. This Bill has been prepared after extensive discussions with you and your colleagues and all suggestions that were considered to be feasible have been incorporated. This Bill has been passed by the Lok Sabha. Government is of the opinion that Parliament has to take a final view on the Bill and the passage of the Bill should be a Parliament-led process. To this end, Government is open to suggestions from all parties. In fact, many suggestions have been accepted by the Government in the course of the discussions on the Bill and two all-party meetings have been held in an effort to build consensus. The Bill has now been referred to a Select Committee which will be open to receive and examine all relevant suggestions.
Teams of Income Tax department officials conducted searches in six places, including a farm house owned by a ruling BJP MLA and two private finance firms, here today. The raids were conducted in a farm house belonging to ruling BJP MLA C T Ravi but occupied by his relatives, official sources said. According to the sources, some documents were seized during the raids. Reacting to the raids, Ravi said “though the house belongs to me, my relatives stay there”. I-T officials remained tightlipped about the raids.
The Central Bureau of Investigation has arrested a Deputy Commissioner of Customs; an Appraiser, both of Custom Houses, Jawahar Lal Nehru Port Trust(JNPT), Nhavaseva(Maharashtra) and two collection Agents (private persons) in a bribery case of Rs.22,000/-.
IDBI Bank Ltd has entered into a Memorandum of Understanding with the Government of Karnataka (GoK) at the Global Investors Meet (GIM) held at Bangalore. The meet was organized by Government of Karnataka and Karnataka Udyog Mitra. Shri Manogaran Varadaraj Masilamani, General Manager, IDBI Bank and Shri B.S. Sirsikar, Joint Director (Planning), Directorate of Industries and Commerce, GoK, signed the MoU. The MoU provides assurance to GoK and investors that IDBI Bank would support the bankable proposal from various Industries in the state.
Request for Assignment of Concurrent Audit- Central Bank has hosted online form for Assignment Of Concurrent Audit to CA Firms in India. Online Applications can be submitted upto 17/06/2012 only.
• Applicant should be a Partnership Firm with minimum 2 partners. The allocation of branches to the auditors will be purely the prerogative of the Bank. The concurrent audit firm should furnish the name and qualification of the persons, who shall be conducting the audit before commencing audit assignment and such persons will have to continue audit for all the months
The OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations (TPG) provide internationally accepted guidance on the application of the arm‟s length principle set out in Article 9 of the OECD and UN Model Tax Conventions. While the OECD works on an ongoing basis to monitor and revise the TPG in order to continually improve the transfer pricing guidance available to taxpayers and tax administrations, it also recognises the growing need to address practical and administrative aspects of implementation of the TPG.
This document is such an interim draft. It contains two principal elements: (i) a proposed revision of the provisions of Chapter VI of the Transfer Pricing Guidelines; and (ii) a proposed revision of the Annex to Chapter VI containing examples illustrating the application of the provisions of the revised text of Chapter VI.
