Key Team Anna member Arvind Kejriwal, Thursday, sent a cheque of Rs 9.27 lakh – to clear his dues – to Prime Minister Manmohan Singh so that his resignation from the Indian Revenue Service is accepted. In a letter enclosed with the cheque, Kejriwal said that his move to clear the dues does not imply that he was guilty in anyway and that he was clearing the dues in protest. Ideally he should have sent the cheque to the Income Tax department.
During the Vigilance Awareness Week, Department of Financial Services, Ministry of Finance organised a full day Conference of Chief Vigilance Officers in Public Sector Banks, Public Sector Insurance Companies and Financial Institutions, here today. The conference was inaugurated by Shri Pradeep Kumar, Chief Vigilance Commissioner. Shri JM Garg, Vigilance Commissioner and Shri Balwinder Singh, Special Director, CBI were guests of honour.
The Task Force on an IT strategy for PDS submitted its report to the Finance Minister today. Following the announcement by the Finance Minister in his Budget Speech for 2011-12, the Task Force on Direct Transfer of Subsidies on Kerosene, LPG and Fertiliser was constituted by the Ministry of Finance in February 2011 under the Chairmanship of Shri Nandan Nilekani, Chairman, UIDAI. It submitted its Interim report in June 2011. In July 2011, this Task Force was given an extended mandate to recommend an IT strategy for PDS and an implementable solution for the direct transfer of subsidy for Food and Kerosene.
The fast changing and immensely competitive environment often calls upon organisations to enter into complex business deals and transactions where accounting practices and norms are not yet settled. In such situations, accounting for transactions and auditing thereof becomes a difficult task. This gives rise to the need for authoritative guidance on such matters. The Expert Advisory Committee (EAC) of the Institute of Chartered Accountants of India fits into the role of giving such authoritative guidance in the form of Opinions on matters relating to application and implementation of accounting and auditing standards and other pronouncements comprising generally accepted accounting and auditing principles under peculiar and intricate situations.
State-owned oil companies are considering a Rs 1.82 per litre hike in petrol prices, as a fall in rupee has increased the cost of imports of the raw material (crude oil). Indian Oil, Hindustan Petroleum and Bharat Petroleum last hiked petrol prices by Rs 3.14 a litre on September 16 when the rupee was ruling […]
Telecom Regulatory Authority of India, TRAI, has extended the 100 sms per day limit to 200 sms per day, per sim. Earlier, TRAI had restricted the number of commercial non-commercial sms that can be send from a sim, to 100. TRAI received representations from some of the service providers and consumers to increase the limit of 100 sms per day, per sim. TRAI has decided that the New cap of 200 sms per day, per sim will be effective from today onwards.
The Special Judge for CBI cases, Delhi has sentenced Sh. Pramod Kumar Jain, the then Income Tax Inspector working in the Directorate of Income Tax(Exemption), Laxmi Nagar, District Centre, Delhi to undergo four years rigorous imprisonment with a fine of Rs.Four lakh and his wife Smt. Asha Rani Jain to undergo two years rigorous imprisonment with a fine of Rs.Two lakh in a disproportionate assets case. The Court has also ordered forfeiture of disproportionate assets to the tune of Rs.1,04,45,122/- to the State.
The Union Cabinet today approved the proposal of the Ministry of Information and Broadcasting for pursuing the Prasar Bharati (Broadcasting Corporation of India) Amendment Bill, 2010 pending in Rajya Sabha in Parliament for its enactment and also to move the official amendments in the Rajya Sabha. Cabinet also approved the action taken on the recommendations made in the Eighteenth Report on “Prasar Bharati (Broadcasting Corporation of India) Amendment Bill, 2010” of the Standing Committee on Information Technology.
Following is the text of the clarification issued by Central Board of Direct Taxes, Department of Revenue, Ministry of Finance: “A section of the press has reported today that some investigations relating to banking information received from overseas have been referred to the Directorate of Criminal Investigation by the Central Board of Direct Taxes for […]
In the context of formulating the proposals for the Union Budget of 2012-13, the Ministry of Finance would like to be benefited by the suggestions and views of your Association. You may like to send your suggestions for changes in the duty structure, rates and broadening of tax base on both direct and indirect taxes giving economic justification for the same.
