The Council at its 306th meeting held from 7th to 9th June, 2011 had considered the recommendations of the Group Constituted by the President, in terms of the authority given to him at its 303rd Meeting held from 10-12 February, 2011 to review entry requirement for Chartered Accountancy Course and decided as under:-
The Indian economy has expanded at a rapid rate during the current decade and the corporate sector has been the biggest contributor in this growth story. A significant feature of this growth is the increasing integration of the Indian corporate economy into the global business environment. While the Ministry of Corporate Affairs is working towards […]
The Central Bureau of Investigation has arrested an Income Tax Officer and a Chartered Accountant, both of Aurangabad for demanding and accepting a bribe of Rs.15,000/- from the complainant. A complaint was received at CBI, ACB, Pune from the complainant against the ITO Ward (1)(2), Aurangabad and a Chartered Accountant of Aurangabad regarding demand of Rs.25,000/- as bribe to settle one complaint received by ITO against him without enquiry.
Driven by a hefty increase in tax refunds which more than doubled in the first quarter of the current fiscal, net direct tax collections dropped by almost 17% during the same period to Rs 57,268 crore. The net direct direct tax collections stood at Rs 68,675 crore in the same period last fiscal.
The Supreme Court today said the CBDT order, as and when it is passed, on Mahindra Satyam tax dispute case would not take effect for two weeks so that the IT company may challenge it in an appropriate forum.
Export of organic edible oil duly certified by APEDA with a ceiling of 10,000 MTs per annum has been exempted from the prohibition imposed on export of edible oils (which is up to 30.9.2011). Notification No. 51 dated 3.6.2011 – Export of organic pulses and lentils duly certified with APEDA with an annual ceiling of 10,000 MTs per annum has been exempted from the prohibition imposed on export of pulses. Earlier, it was permitted for export up to 31.3.2012.
A draft Micro Finance Institutions (Development & Regulation) Bill, 2011 is now available on the website of Department of Financial Services, Ministry of Finance, Government of India. This draft Bill may be seen at http://finmin.nic.in/the_ministry/dept_fin_services/fin_services.asp . The Government, desires to have public comments and views of the stakeholders at the earliest on the draft Bill before finalizing the Bill. All comments and suggestions may be sent at acsec-bkg@nic.in.
The Finance Minister Shri Pranab Mukherjee has urged all Public Sector Banks/Financial Institutions to exert themselves in containing the downward trend of Asset Quality by devising suitable strategies for containing and rolling back NPAs. He was addressing the review meeting of the Chief Executives officers (CEOs) of Public Sector Banks/Financial Institutions, here today.
India’s exports have registered a growth of 46.4% during June 2011, at US $ 29.2 billion. Interacting with the media persons here today, Shri Rahul Khullar, Commerce Secretary, informed that during the period April-June 2011, exports have reached a level of US $ 79 billion at a growth of 45.7% while the imports were US $ 110.6 billion with a growth of 36% and a trade deficit of negative US $ 31.6 billion, during the same period. During the interaction, Shri Khullar also informed that India’s imports in June 2011 were US $ 36.9 billion registering the growth of 42.4%. Balance of trade for the month of June 2011 stood at negative 7.7 billion US dollar.
Union Minister of Corporate Affairs Shri Murli Deora today released the ‘National Voluntary Guidelines on Social, Environmental and Economic responsibilities of Business’ that will mainstream the subject of business responsibilities’. At a function held in Ashoka Hotal today the Minister expressed the hope that these guideline will strengthen and enable the Indian corporate sector to evolve into a global leader in responsible business. He said the beginning of industrialization marked the transition from merchant charity to industrial philanthropy in India which was more secular, more inclusive in terms of caste, creed and community and more oriented to bringing progress to society through western style modern institutions.
