Form 11 is made available at http://llp.gov.in. All LLPs whose financial year closes on 31st March of every year has to file Form 11 within 60 days from the date of financial year closure without any late fee and later it attracts late fee at the rate of Rs. 100/- per day. The due date falls on 30/05/2010.
May 4, 2010- In view of the disruption in local train traffic due to the strike call of Railway Motor – men, and in order to avoid hardship to the candidates appearing in CA exams at different Centres in Mumbai city and its suburbs, it has been decided to allow extension of time for late entry to CA examinations upto 3.00 p.m. (instead of 2.30 p.m.) in respect of the Exam Centres located in Mumbai and its suburbs.
The Government has said that the Institute of Chartered Accountants of India (ICAI) is the Regulator for Chartered Accountancy profession in India and it is collecting information whether top multi-national firms have flouted norms to provide services in the country. Giving this information in reply to a question in the Rajya Sabha, the Minsiter for Corporate Affairs, Shri Salman Khurshid told the House that as far as the functioning of multinational accounting firms is concerned the Ministry has collected the following information from the relevant Central Govt. Departments:
Serious Fraud Investigation Office (SFIO), functioning under the Ministry of Corporate Affairs, has handled 61 cases for investigation during 2004-05 to 2008-09. Giving this information in reply to a question in the Rajya Sabha, the Minsiter for Corporate Affairs, Shri Salman Khurshid told the House that SFIO has filed prosecutions in the matter of 32 companies against 632 accused (which includes individuals as well as companies) during the last five financial years. He said that as the SFIO is an investigating agency and not a revenue earning organization, hence the benefits on account of an investigating agency cannot be quantified in terms of revenue.
RBI has asked finance companies to obtain a no-objection certificate from it before investing overseas, it said on Monday. The company will also have to clearly mention the activities that will be done by the overseas entity while making an application to RBI.
Matter likely to be litigated, with officials agreeing the law was unclear in the earlier editions of the IPL. The Union finance ministry may have to battle it out in court with the sponsors of the Indian Premier League (IPL) cricket tournament to make them comply with its service tax payment demands.
Citizens aggrieved by the orders of income tax assessing officers may soon find earlier resolution of their appeals before the Commissioners of Income Tax (CsIT), the first appellate authority for such disputes. The department of revenue has constituted a committee to monitor the huge number of cases locked in such appeals and suggest a plan for 2010-11 to increase their disposal.
The finance ministry plans to exempt large unlisted companies from the proposed 25% minimum public holding norm to ensure that it does not discourage them from going public.
The Income Tax department probing alleged financial irregularities in the IPL has collected TDS of nearly Rs 400 crore from the third edition of the T20 tournament. The department has accrued the amount as Tax Deducted at Source (TDS) from the remuneration paid to players, umpires, coaches, commentators and from payment of overseas publicity rights.
The market regulator Sebi yesterday asked credit rating agencies (CRAs) to disclose their methodologies and fees charged from the companies they rate, a move that will promote greater transparency.
