Finance minister Pranab Mukherjee is unlikely to go for any major changes in direct taxes when he presents the Budget in February. According to indications, he will restrict himself to minor tweaking in the policy on income and corporation tax, and
The recent housing loan scam would increase developers’ dependence on private money-lenders. While cash flow from various quarters like private equities and investors has already become scarcer, the scam is expected to adversely impact credit flow to
Union Finance Minister, Shri Pranab Mukherjee said that our economic policies need to be designed in such a manner that the redistributing process does not feed off the public finances and the growth process itself is not hampered. Shri Mukherjee sai
Accounting regulator ICAI today said that the Reserve Bank of India (RBI) may accept global accounting practice IFRS but will not give up prudential norms completely as they saved Indian banks from global financial meltdown. Prudential norms imply re
Tax returns are not sacrosanct when it comes to calculating the maintenance paid by a man to his estranged wife and kids, the Bombay high court has ruled. In two recent cases, the HC thwarted the attempt of two businessmen who challenged the maintena
Stung by the real estate bribes-for-loans scam, banks and housing finance companies will henceforth seek additional security and add completion guarantee clauses into agreements before sanctioning loans to developers. Several bankers and housing fina
Within a week of the CBI arresting senior bankers in the housing finance racket, the competition watchdog CCI on Monday said 11 real estate companies are already under its scanner. “I can only say that of the 137 cases that we are handling, 11 pertai
Even as Corporation Bank has decided to be the first one to withdraw teaser loan schemes, others led by the State Bank of India (SBI) have asked the Reserve Bank of India (RBI) to define teaser loans. Stung by the public criticism of teaser rates, SB
Income Tax Department is releasing 3 new services on the e-filing website Income Tax Department is releasing 3 new services on the e-filing website. These are available from the ‘Services’ menu on the Menu Bar on top. The services are available without requiring any login (and are also available under ‘My Account’ as well) are: […]
Indian economy is buoyant, strong and has kept recession at bay and to keep the progress going, the contribution of chartered accountants is important. They must act as the watchdogs of economy and contribute to nation building,
