The government on Friday said that tax information received from overseas authorities is subject to confidentiality and cannot be made public or used for prosecution purposes without prior permission. Financial Intelligence Unit India receives, processes as well as disseminates information related to suspect financial transactions.
1. What is meant by verification of marks? The process of verification of marks covers the following: Checking: Whether the answer book(s) compilation is complete Whether any question or part thereof has remained unvalued Whether there is any totaling error in any question or total marks on the cover page Whether there is any discrepancy between the marks for each question and or/part thereof and marks for each question indicated on the cover page of the answer book Whether the handwriting of the candidate in all the answer books is the same. However, revaluation of the answer book is not permitted under the Chartered Accountants Regulations, 1988.
The Ministry of Corporate Affairs, in exercise of the powers under Section 611(2) and 637B (b) of the Companies Act, 1956 has decided to introduce a Scheme namely, ‘Company Law Settlement Scheme, 2011,’condoning the delay in filing documents with the Registrar, granting immunity from prosecution and charging additional fee of 25 percent of actual additional fee payable for filing belated documents under the Companies Act, 1956 and the rules made there under. The orders issued to this effect vide the ministry’s General Circular No. 59 of August 05, 2011 are in order to give an opportunity to the defaulting companies to enable them to make their default good by filing such belated documents and to become a regular compliant in future. This scheme is effective from today and will remain in force up to 31st Oct, 2011.
Union Corporate Affairs Minister Dr. M. Veerappa Moily has thrust upon a Corporate culture that must be familiar to the universally accepted values of good governance – accountability, transparency, responsibility and responsiveness to stakeholders. Inaugurating a Corporate Governance Conclave organised by the Institute of Company Secretaries of India ( ICSI) in New Delhi today Dr. Moily said ICSI is playing a pivotal role in promoting good governance among the corporates.
The International Accounting Standards Board (IASB) published today for public comment an exposure draft of proposals to adjust the mandatory effective date of IFRS 9 Financial Instruments. The exposure draft proposes an effective date of 1 January 2015 (currently 1 January 2013) for IFRS 9.
The Reserve Bank today said the option of going for another round of rate hike at its next mid-quarterly policy review in September do exist as inflationary pressure continues in the economy.
ICAI requires technically par excellence professionally successful, academically brilliant resource persons for taking sessions on various subjects & emerging topics in the various Certification Courses offered by the ICAI. The ICAI conscious of the needs of its members, with regard to the upgradation of the latest developments in different sectors of current relevance, offers the following certification courses to them: Master in Business Finance Certificate Course Certificate Course on Derivatives Certificate Course on Forensic Accounting and Fraud Detection using IT and CAATs (Forensic Accounting) Certificate Course on Forex & Treasury Management (Forex-Treasury)
The Finance Minister Shri Pranab Mukherjee, who is also Chairperson of the National Implementation Committee to commemorate 150th birth anniversary of Gurudev Rabindranath Tagore, today launched a new Audio-Visual presentation of Gurudev Rabindranath Tagore’s ‘Jana Gana Mana’ poem in full five stanzas by various artists as a salutation to the great poet who gave us India’s National Anthem.
In order to ensure availability of sufficient credit to MSE Sector, Banks have been advised by RBI to achieve the following targets: i) 60% of MSE advances for Micro Enterprises by 2012-13, to be achieved in three stages: i.e. 50% by 2011, 55% in 2012 & 60% in 2013. ii) Banks are advised to achieve a 20% year-on-year growth in credit to micro and small enterprises. iii) Banks are advised to achieve 10% annual growth in the number of micro enterprises accounts.
The Reserve Bank of India today released on its website the results of quarterly Survey of Professional Forecasters on major macroeconomic indicators of short to medium term economic developments. The survey round relates to the first quarter of 2011-12, that is, April-June 2011. Done through a questionnaire responded by 30 forecasters who participated in this round, the survey covered component-wise detailed forecasts of GDP growth, inflation, savings, capital formation, consumption expenditure, export, import, interest rates, money supply, credit growth, stock market movements, corporate profit, etc.
