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Government of Switzerland would be ready to reveal the names and bank account details of Indians

October 8, 2010 438 Views 0 comment Print

The government of Switzerland would be ready to reveal the names and bank account details of Indians who have stashed away billions of dollars of black money in Swiss banks once the Indian Parliament ratifies the revised Double Taxation Avoidance Ag

India and Mozambique sign Double Taxation Agreement (DTA)

October 8, 2010 597 Views 0 comment Print

On September 30, India and Mozambique signed a Double Taxation Agreement (DTA) alongside two others which also supported economic co-operation: one regarding mineral resources, the other small and medium sized enterprises.

RBI forms group to review operation of monetary policy

October 8, 2010 600 Views 0 comment Print

The Reserve Bank has constituted a working group to review the current operating procedure of monetary policy, as transmission of the policy to the rest of the system remains imperfect. The group, to be headed by RBI executive director Deepak Mohanty

Indian Holding Green Card in US facing threat of being taxed in the US for income generated in India

October 8, 2010 820 Views 0 comment Print

Tax laws in the US empower the Internal Revenue Service, the apex body for US tax administration, to tax global incomes of those holding US citizenships or the green card. As a result, Indians who hold a US citizenship or green card, face the threat

Calcutta High Court still under Queen of England

October 8, 2010 1480 Views 0 comment Print

Sixty-three years after Independence, Calcutta High Court, or at least its Public Information Officer (PIO), apparently feels that it is not under the control of the President of India or the government of India, since it has been set up under Letter

ICAI Plans to introduce unique code numbers (UCD) to check the increasing forged attestations

October 8, 2010 642 Views 0 comment Print

Copies of the balance sheet, tax audit reports and similar documents attested by chartered accountants as part of several million mandatory filings done by companies across the country each year may soon have a unique code number as authentication.

ICAI ties up with United Stock Exchange (USE to impart knowledge on currency derivatives

October 8, 2010 357 Views 0 comment Print

IN a move to impart comprehensive knowledge of financial markets to its members, The Institute of Chartered Accountants of India ( ICAI ) recently signed an MOU with United Stock Exchange (USE). As part of this MOU, members of ICAI will be educated b

IT department conducts search at the offices of Nagarjuna Construction

October 8, 2010 432 Views 0 comment Print

Sleuths of Income Tax Department have initiated search operations across several offices of the Hyderabad-based Nagarjuna Construction Company Ltd. The search process was initiated in the early hours of Wednesday starting from its corporate office in

CII opposed new Companies Bill proposal to make maintenance of cost records mandatory

October 8, 2010 381 Views 0 comment Print

Taking up cudgels on behalf of corporate India, the Confederation of Indian Industry (CII) has expressed itself against making maintenance of cost records mandatory as suggested by the parliamentary standing committee that has studied the Companies B

SEBI instructs Portfolio Managers to fix uniform fee

October 7, 2010 520 Views 0 comment Print

The fee charged by portfolio managers will soon be linked to the profits they have been able to make for their clients, with capital market regulator Sebi asking portfolio management service (PMS) providers to follow a uniform fee structure.

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