When asked to recall the moment when he first became millionaire in real life, Big B said, ‘I don’t remember the time when I became a ‘crorepati’. I have never paid that much attention to it I was more focused on my work that is acting. But I guess officials from the income tax department might know about it.”
India’s exports have registered a growth of 81.8% during July 2011, at US $ 29.3 billion. Interacting with the media persons here today, Shri Rahul Khullar, Commerce Secretary, informed that during the period April-July 2011, exports have reached a level of US $ 108.3 billion, a growth of 54% while the imports were US $ 151 billion with a growth of 40% and a trade deficit of US $ 42.7 billion, during the same period. During the interaction, Shri Khullar also informed that India’s imports in July 2011 were US $ 40.4 billion registering the growth of 51.5%. Balance of trade for the month of July 2011 stood at 11.1 billion US dollar.
The Customs and Central Excise Department requires Advocates for representation before the Hon’ble High Court of Bombay, Mumbai and other Statutory bodies/authorities like Tribunals/BIFR/AAIFR/DRT in the matters relating to Indirect Tax Laws. Practicing Advocates and retired officers of the Customs & Central Excise Department who are enrolled/registered as Advocates with the High Court of Bombay, Mumbai are eligible to apply.
The Institute of Chartered Accountants of India (ICAI) announced the results of PCC & IPCC examinations held in May, 2011. The toppers of PCC examination held in May, 2011 are from Chennai, Mumbai and district Satara located in Maharashtra. This shows that even the country side regions are also not untouched by the reach of this profession.
The ICWAI has been appealing the Government to change its name from the ‘institute of Cost and Works Accountants of India’ to the ‘Institute of Cost and Management Accountants of India’ in line with the global practice and to make its members known by its true functions they are performing in line with the changing role of the professionals known earlier as cost and works accountants of similar institutes in developed and developing countries such as UK, USA, Canada, Pakistan, Bangladesh.. Sri Lanka, etc. The appeal was also considered by the Standing Committee on Finance in 2004-05 which strongly recommended the name change, in spite of objections only from ICAI.
This is to reiterate that last date for submission of online applications on www.meficai.org is 27th August, 2011. Sample copy of MEF is availaible at http://pdicai.org/docs/Multipurpose_Empanelment_Form_2011.pdf for your ready reference. You are requested to visit the site and fill up the form at the earliest possible to avoid the last minute rush.
Expressing concern over rising cheque bouncing cases, a Delhi court has sentenced a businessman to six months in jail and imposed a fine of Rs 3 lakh on him, saying no leniency is called for in such cases. Metropolitan Magistrate Vishal Pahuja jailed Delhi-based cloth merchant Ravinder Kumar, rejecting his plea for release on probation after payment of fine, saying that cheque bouncing cases consume a lot of time of the court.
The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Rajya Sabha that the Department of Public Enterprises, Ministry of Heavy Industries and Public Enterprises have issued comprehensive guidelines on Corporate Social Responsibility (CSR) for Central Public Sector Enterprises (CPSEs) in April 2010. In these guidelines, CPSEs have to create mandatorily through a Board Resolution, a CSR budget as a specified percentage of net profit of the previous year, Expenditure range for CSR in a Financial year 3-5% of the net profit of previous year in case of CPSEs having profit less than Rs.100 crores; 2-3% (subject to minimum of Rs. 3 crores) in case the profit ranges from 100 crores to Rs.500 crores and 0.5-2% in case of CPSEs having a net profit of more than Rs.500 crores in the previous year. CSR guidelines for CPSEs further provide that loss making companies are not required to earmark specific funding for CSR activities. So far comparable directions have not been issued by the Ministry of Corporate Affairs.
The Reserve Bank of India today released the August issue of its Monthly RBI Bulletin. The August Bulletin carries four special articles: Developments in India’s Balance of Payments during Fourth Quarter (January-March) of 2010-11 India’s External Debt as at end-March 2011 Inflation Expectations Survey of Households: June 2011 (Round 24) Quarterly Industrial Outlook Survey: April-June 2011 (Round 54).
Parliament on Thursday permitted the government to mint coins of Rs 1,000 denomination even as nostalgia over withdrawal of 25 paise coins (chawani) was witnessed among Rajya Sabha members. The Coinage Bill, 2009 passed by the Upper House, limits payment by an individual through coins up to Rs 1,000, Finance Minister Pranab Mukherjee said, replying to a debate on it.
