The commerce and industry ministry has recommended a ban on foreign direct investment in cigarette manufacturing and allied products involving tobacco, an official said. “We have sent the note to ban FDI in cigarette manufacturing and allied products to the Cabinet and it is expected to be taken up soon,” the official said.
The Madras High Court has stayed the operation of an Income Tax Act provision, which requires debenture-holders to furnish the Permanent Account Number along with Form 15G to claim exemption from tax deduction at source. Justice KN Basha granted the interim relief to PS Kamala, saying the condition was contrary to the relevant provisions of the Income Tax Act.
The Staff Section Commission has announced the final result of Tax Assistant (Income Tax & Central Excise) Examination 2009 held on 13th December, 2009 except Andhra Pradesh and one centre in Allahabad (UP) and Tax Assistant (Income Tax & Central Excise) where re-examination-2009, was held on 7th February, 2010. (840 candidates have been recommended for appointment to the post of Tax Assistant (Income Tax & Central Excise). Details are available on the Website: http://ssc.nic.in
Compilation of Suggested Answers is a subject-wise compilation of answers to questions set in the Institute’s examinations over a number of years. The compilation in the subject of “Advanced Accounting” covers a period of three years – May, 2007 to November, 2009 and contains compilation of suggested answers of six examinations.
Proposals are invited by Delhi Pollution Control Committee for Accounting Services. Scope of work: Writing of Accounts Books on day to day basis.The approximate annual expenditure of Delhi Pollution Control Committee for the year 2007-08 and 2008-09 is Rs. 4.32 and 7.01 Crore respectively.
Proposals are invited by Delhi Pollution Control Committee for Internal and Concurrent audit for the period 2007-08 and 2008-09. Scope of work: Internal audit on monthly basis. The approximate annual expenditure of Delhi Pollution Control Committee for the year 2007-08 and 2008-09 is Rs. 4.32 and 7.01 Crore respectively.
The next Common Proficiency Test (CPT) of the Institute will be held on 20th June, 2010. The sale of Information Brochure cum Examination Application forms for the said test would commence from 6th April, 2010. The last date for sale and receipt of filled in application is 27th April, 2010.
Under the provisions of section 35, a person carrying on business or profession, is entitled to the deduction of the expenditure (revenue as well as capital) incurred by it on scientific research. In specified cases, the weighted deduction is given to the person incurring the expenditure. For providing further impetus to the activities of research, the weighted deduction has been enhanced as mentioned below:
Extensive provisions have been made in the Finance Bill, 2010, for expanding the scope of benefits given to the research so as to embrace non-scientific research (social science) and statistical research. Parity has been provided for the social science and statistical research with scientific research.
Institute of Chartered Accountants of India (ICAI), the statutory body regulating chartered accountants in India, has now demanded amendment of some section of the law, which guides them. The whole idea is to seek more legal power to initiate stringent disciplinary measures against erring auditors/CAs on a fast track basis, G Ramaswamy, the newly elected […]
