Reserve Bank of India has suspended the license of Asia’s oldest Cooperative bank: Anyonya Co-operative Bank Limited (ACBL) Vadodara(Gujarat) for six months after examining all options for their revival. RBI has also ordered to stop all transactions
In an irony of sorts, RBI gets to approve salaries of all the top-level bankers in the country, but the central bank’s top officials themselves get less than 5 per cent of what is paid to the bank chiefs.
State Bank of India (SBI) is considering the merger of all five of its remaining associate banks with itself, having amalgamated with two of them in the last two years. It (merger of other associate banks) is in my mind, but we have to see,
The Standing Committee of Parliament which thoroughly examined The Companies Bill, 2009, has observed that the words “As may be prescribed” has been used in the Bill approximately 235 times, thereby suggesting excessive role and scope for delegated l
Renaming is not a simple exercise in the world of chartered accountants. The parliamentary standing co m mittee on finance headed by fo rmer finance minister Yashwant Si n ha has rejected the demand of the Institute of Cost and Works Acco untants of
Net direct tax collections during the period April to August 2010 of the present fiscal stood at Rs. 1,00,112 crore, up from Rs. 87,888 crore in the same period last fiscal, registering a growth of 13.91 percent. Growth in Corporate Income Tax was 17
The simplified Direct Tax Code (DTC) Bill introduced in Parliament on Monday, which will become effective from April 1, 2012, holds a few surprises, including the withdrawal of tax deduction on the principal component of housing loans. The bill, that
The Bill will have substantial and significant provisions regarding corporate social responsibility, protection of minority shareholders and redefinition of promoters. The Government will incorporate certain additional provisions in the proposed Companies Bill on the basis of the report submitted by the Parliamentary Standing Committee on Finance this week.
The new legislation, introduced in Parliament on Monday, says an individual shall be resident in India in any financial year if he is in the country for more than 59 days in that year and has been in India for more 365 days in the four preceding fina
The finance ministry has slapped a tax notice of about Rs 758 crore on Delhi Development Authority (DDA) for allegedly not paying service tax since 2007. “We have issued demand-cum-show cause notice to DDA on August 31, 2010 for not paying service tax on lease of immovable property and club or association service,” a revenue department source told PTI.
