ICAI
CA Students Download November, 2010 Exam Admit card..
CA Students Download November, 2010 Exam Admit card..
Availability of CPT December 2010 PP mode application form
The application form for admission to Common Proficiency Test – December 2010 (Paper-Pencil Mode) is available in all the Regional and all Branch Offices of the Institute. Applications for admission to Common Proficiency Test is required to be made in the relevant prescribed form as contained in the Information Brochure, which may be obtained from the Senior Deputy Director (Examinations), The Institute of Chartered Accountants of India, ICAI Bhawan, Indraprastha Marg, New
Admit card help line desk – November 2010 examinations
Do you have any query about NOVEMBER, 2010 examination? The Help Line Desk will be functional from 18th October to 16th NOVEMBER, 2010 for 24 hours on all days (inclusive of holidays and Sundays) to attend to any query relating to the ensuing Chartered Accountant Examinations to be held from 8th to 16th NOVEMBER, 2010. The telephone Numbers of Help Line Desk are:
Income Tax
Kaun Banega Crorepati winners does not take the entire winnings home
Guidelines for valuing prizes are hazy, read the terms and conditions carefully With Kaun Banega Crorepati 4 going on air last week, diehard fans of Amitabh Bachchan have yet another opportunity to meet him. In addition, many stand a chance of becoming millionaires overnight. The only glitch is that the winner does not take the …
Infrastructure bonds an attractive option for tax gains
Infrastructure bonds are an attractive option for those in the high tax bracket. Infrastructure bonds are the latest avenue for investors looking to park funds in debt instruments. A number of companies have announced plans to raise money through this route. While IFCI has already raised Rs 100 crore, this is the first time after additional …
Vodafone files petition in HC, says Vodafone not agent of Hutchison
Vodafone said on Friday it has filed a petition in Bombay High Court defending itself against a new step by tax authorities treating the telco as an ‘agent’ of the seller in its $ 11-billion (about Rs 50,000 crore) takeover of Hutchison Telecom in 2007. Bombay High Court had earlier dismissed a petition filed by …
Investment-based tax gains for Nelp-IX
Energy explorers will get tax incentives based on their investments in the ninth round of auctions for oil and gas exploration blocks, replacing the existing regime of seven-year tax holiday on profits. The tax benefits will extend to gas exploration as well, oil minister Murli Deora clarified on Friday at the launch of the ninth …
What is this 26AS?
26AS is the tax credit statement in a consolidated form that captured all tax deductions, collections and advanceself-assessment taxes for a taxpayer relating to a tax year. The system matched the details furnished by the deductor in the quarterly returns with that provided by the banks accepting tax payments. Once this online verification is completed, …
What are tax saving bonds & what are the risk factors?
The Tax Saving bonds are for individuals with low risk appetite, who are looking to primarily preserve income and earn returns on the same as a secondary goal. Tax-saving bonds are issued by RBI and organizations belonging to both public and private sectors. Tax-saving bonds are one among the important tax saving options available to …
GST
GST still a distant dream
It appears there is no end in sight to the differences between the Centre and the states over the model required for introduction of the Goods and Services Tax (GST). The next meeting of the Empowered Committee of the State Finance Ministers in Goa may not give any impetus to the talks on GST, which …
Empowered committee asks Centre to drop the proposal of GST constitutional body
States have asked the Centre to drop two key provisions from the constitutional amendments suggested to facilitate the proposed goods and services tax, but the Union finance ministry is unlikely to accept the suggestion, indicating that the impasse over the indirect tax reform is likely to continue. In a fresh proposal Asim Dasgupta, chairman of …
SEBI
MF industry to adapt SEBI norms
The mutual fund industry has been under pressure over the last one year after market regulator Sebi tightened rules to curb misselling by distributors. Distributors now have to directly negotiate the initial commission with investors. Naval Bir Kumar,president and CEO, IDFC Mutual Fund , says the industry is attempting to cope with the changes in …
RBI
New RBI panel to examine functioning of Micro Finance Institutions
Reserve Bank of India announced on Friday constitution of a sub-committee to look into the functioning of Micro Finance Institutions, as they have drawn flak for using strong arm tactics to recover loans. MFI tactics have even prompted Andhra Pradesh Cabinet to approve an ordinance to rein them in. “We have constituted a sub-committee to …
KYC is mandatory; one can’t escape its paperwork
There is no escaping the paperwork while investing in financial products. Be it, opening a new bank account, demat account or buying insurance, filling the Know Your Client (KYC) documents is a mandatory procedure today. KYC is a client identification program that verifies and maintains records of the identity and address of investors. KYC norms …
Indirect Tax
Clarification on in-transit sales taxability
In A&G Projects & Technologies Ltd. Vs. State of Karnataka (2008) VIL 40 SC, the Supreme Court had laid down certain important principles governing the taxation of interstate sales of goods under the Central Sales Tax Act 1956 (the Act). While the Court had analyzed the two categories of interstate sales as visualised in Sections …
Company Law
Independent director’s short tenure a constraint in building a relationship of trust
The Companies Bill 2009 has dealt with independent directors quite extensively. The Standing Committee has spent significant time on issues relating to independent directors as evident from the report of the Committee. This shows the criticality of the effectiveness of independent directors in corporate governance. In the words of the Standing Committee “It is important …
