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Infosys launches XBRL filing solution to help companies file financial statements

November 20, 2011 2328 Views 0 comment Print

Country’s second largest software exporter Infosys today announced the launch of XBRL filing solution to help companies file their financial statements in the format mandated by the Ministry of Corporate Affairs.

Inter-Ministerial Committee to Look into the Issue of Misleading Advertisements

November 20, 2011 1342 Views 0 comment Print

In view of large number of consumer complaints, the Government is considering setting up an inter-ministerial committee to look at ways and means to check false and misleading advertisements effectively. This was stated by PROF. K.V. THOMAS while delivering key note address at conference on ‘Strengthening Self Regulation of Advertising Content’ organized by the Advertising […]

ICAI asks questions on topics excluded from syllabus in question paper of Taxation, PCE Nov-2011

November 20, 2011 2610 Views 0 comment Print

t is allged by few students that ICAI has asked question from the topics which were excluded by it from syllabus for November 2011 examinations by two separate Announcement published on its website. The allegation were made by students of November 2011 PCE examination in respect of Taxation paper. We have also received an email from one such students in which he explained the discrepancy and requested ICAI to do the needful. He also mailed his mail to ICAI officials. Text of the email is given as under. We are not publishing here the name of student to protect the identity.

MCA requests to Expedite Filing Of Annual Return And Balance Sheet

November 20, 2011 546 Views 0 comment Print

To Avoid Last Minute Rush And System Congestion In MCA21 Towards End Of November 2011, Kindly Expedite Filing Of Annual Return And Balance Sheet Without Waiting For The Last Days Of The Month. During This Period, Roc Facilitation Centers/ Help Desks Would Give Priority In Efiling/ Answering Queries Of Companies For Filing Balance Sheet And Annual Return. The Companies Required To File Xbrl Documents May Also Do So At The Earliest.

SC admits plea for allowing tax exemption on the expenses incurred for heart surgery

November 19, 2011 990 Views 0 comment Print

The Supreme Court on Monday admitted a special leave petition filed by former Union Law Minister and senior counsel Shanti Bhushan for treating his heart as a ‘plant’ for the purpose of granting him income tax wavier on expenses incurred on heart surgery.

Empanelment for Concurrent Audit of Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited

November 19, 2011 5652 Views 0 comment Print

Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited (“Company”) is carrying on life insurance business in India. Company intends to identify and engage a firm of Chartered Accountant to conduct Concurrent Audit of Investment transactions and related systems starting 1st April 2012 for which this RFP is being issued.

Listing Provides an Oppurtunity to the People of India to become Shareholders in CPSES while Government Retains Management Control – FM

November 19, 2011 822 Views 0 comment Print

The Union Finance Minister, Shri Pranab Mukherjee has said that listing provides an opportunity to the people of India to become shareholders in Central Public Sector Enterprises(CPSEs); while Government retains management control and at least 51% shareholding in the Government companies.

Revised Concept Paper on Taxation of Services based on Negative List

November 19, 2011 2271 Views 0 comment Print

The earlier Paper had given the definition of service to ‘mean anything which does not constitute supply of goods, money or immovable property’ A number of specific inclusions or exclusions were further elaborated. Suggestions have been made that the “service” should be confined to economic transactions or transactions for consideration

RBI – Minutes of the October 19, 2011 Meeting of the Technical Advisory Committee on Monetary Policy

November 19, 2011 705 Views 0 comment Print

The Reserve Bank has been placing the main points of discussion of the Technical Advisory Committee (TAC) on Monetary Policy meeting in public domain with a lag of roughly four weeks after its meeting. The minutes of the twenty-fifth meeting of the TAC held on July 20, 2011 were placed in public domain on August […]

Citibank fraud – Income Tax department initiates re-assessment of investors

November 19, 2011 588 Views 0 comment Print

NEW DELHI: In a double whammy for investors who lost their money in the Rs 400 crore Citibank Gurgaon scam as the Income Tax department has initiated a re-assessment of tax returns of these people to ascertain whether the money invested was reflected in their annual returns. The department’s various tax assessment wings will undertake […]

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