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Department of post launched new service to enable customers to trace their mails through SMS

October 15, 2009 432 Views 0 comment Print

“This new service will enable public to locate their mails, especially speed post, by sending an SMS and they will receive the location of their mail,” T Murthy, post master general, Tamil Nadu circle, business development and marketing, told reporters in Chennai.

CA seek investigation into his alleged extortion

October 14, 2009 744 Views 0 comment Print

Mumbai: Jayesh Sanghoi, the chartered accountant of Jaya Chedda—ex-wife of slain matka king Suresh Bhagat—has approached the Mulund metropolitan magistrate, seeking an investigation into his alleged extortion by Suresh’s brother Vinod.

Indo-American doctor convicted for $16 Million tax evasion

October 14, 2009 906 Views 0 comment Print

Indian American doctor convicted for $16 mn tax evasion Oct 9 (IANS) A federal jury has convicted an Indian American cardiologist for evading more than $16 million dollars in income taxes and filing false tax returns.

Under GST regime import will attract Goods and service tax

October 14, 2009 679 Views 0 comment Print

The Empowered Committee of State Finance Ministers has endorsed in principle the levy of GST on imports and mandated a Joint Working Group to prepare a report in four weeks on the structural changes necessary to be adopted for this purpose.

RBI Circular on display and distribution of list of defaulters and suit-filed accounts

October 14, 2009 3805 Views 0 comment Print

As announced by the Hon’ble Finance Minister in his Budget Speech on February 28, 1994, in order to alert the banks and FIs and put them on guard against borrowers who have defaulted in their dues to other lending institutions, the Reserve Bank of India was putting in place arrangements for circulating among banks and FIs names of defaulting borrowers above a threshold limit.

From October 15 Maximum withdrawals at once from other banks ATM Rs. 10000/- subject to maximum of 5 withdrawals in a month

October 14, 2009 739 Views 0 comment Print

From October 15, a customer can take out a maximum of Rs 10,000 per withdrawal from ATMs not owned by the bank in which he has an account, and the number of such transactions would be limited to five a month.

Government planning to cover LLPs under FDI norms

October 13, 2009 882 Views 0 comment Print

The government is working to bring limited liability partnerships (LLPs) within the scope of foreign direct investment guidelines, a move which will facilitate the inflow of overseas capital through a corporate structure that has just recently been allowed in India.

Video recording of a will is legally admissible evidence: Delhi HC

October 13, 2009 1212 Views 0 comment Print

In a ruling that might make settlement of a disputed will easier, the Delhi high court on Friday admitted video recording of a will as legally admissible evidence.

ICAI seeks information about the association of its member institutions with foreign auditing firms

October 13, 2009 411 Views 0 comment Print

Institute of Chartered Accountants of India has sought broad-ranging information about the association of its member institutions with foreign auditing firms. The move assumes significance following the accountancy fraud by the promoters of Satyam Computers that brought the role of auditors under scrutiny.

The Government planning to establish regulator for 'insolvency professionals'

October 13, 2009 699 Views 0 comment Print

The Government is planning to establish a regulator for the growing tribe of insolvency professionals, who specialise in rehabilitation or winding up of sick companies. The Companies Bill, 2009 has given formal recognition to insolvency experts as professionals for the first time.  It was felt that there should be a regulator for insolvency professionals, they […]

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