CAclubindia News

MID-Year Economic Analysis Presented in Parliament; holds Outlook of Growth Stability and Recovery of the Economy

18 December 2012 at 11:53

The Government today tabled the Mid-Year Economic Analysis 2012-13 in both the Houses of Parliament. This is as per the provisions of the Fiscal Responsibility and Budget Management (FRBM) Act, 2003 which requires the review of quarterly trends in

Posted in Others | 5433 Views

Compliance with the Requirements of Corporate Governance

18 December 2012 at 11:53

Compliance with the requirements of Corporate Governance as laid down in the Companies Act is looked into by the Registrars of Companies and suitable action is initiated wherever there is failure to comply with the law. Giving this information in

Posted in Corporate Law | 6807 Views

Tax Raids under the Income Tax Act, 1961

15 December 2012 at 11:44

Tax Raids The numbers of search warrants executed under the Income Tax Act, 1961 during the years 2010-11, 2011-12 and the current year are as under: Period Number of warrants executed

Posted in Income Tax | 4 comments | 36633 Views

Updating Tax Officials' Knowledge of Law

15 December 2012 at 11:44

The assessing officers undergo in-depth training on direct tax at the induction stage at National Academy of Direct Taxes, Nagpur (NADT) and the seven subordinate Direct Taxes Regional Training Institutes (DTRTIs) located across the country and on

Posted in Income Tax | 1 comments | 10881 Views

Income Tax Refund

15 December 2012 at 11:44

Processing of returns of income, including those with refund claim, is a continuous process. Statutory time limit to process returns of income is with reference to the financial year of their receipt. As per the Income Tax Act, 1961 returns receiv

Posted in Income Tax | 4 comments | 28518 Views

253277 companies have not filed their Annual return in 2010-11

14 December 2012 at 16:29

De-Registration of Companies During the year 2010-11, 2,53,277 companies have not filed their Balance Sheets and Annual Returns. Giving this information in written reply to a question in the Lok Sabha today Shri Sachin Pilot, Minister of Corpora

Posted in Corporate Law | 5 comments | 10314 Views

Bank details of indian account holders in France

14 December 2012 at 16:29

On the request of the Central Government and persistent follow up in June, 2011, France has provided details of Indians having bank accounts in one of the banks of Switzerland under the provisions of Double Taxation Avoidance Convention (DTAC) bet

Posted in Income Tax | 12327 Views

Reduction in Commission of PPF agents to make the Schemes more Investor Centric than Agent Centric

14 December 2012 at 11:38

The recommendation of Shyamala Gopinath Committee regarding agents’ commission was to reduce commission of 0.5% on Senior Citizens Saving Scheme (SCSS) and 1% on Public Provident Fund (PPF) to zero, reduce 4% commission under Mahila Pradhan

Posted in Others | 1 comments | 8328 Views

Reasons for Allowing FDI in Retail Sector

14 December 2012 at 11:35

Foreign Direct Investment (FDI) complements and supplements domestic investment. Domestic companies are benefited through FDI, by way of enhanced access to supplementary capital and state-of-the-art technologies; exposure to global managerial prac

Posted in Others | 3 comments | 14067 Views

CAG of India briefs UN Secretary General on Conduct of UN Audit

13 December 2012 at 10:07

Vinod Rai Re-Elected Chairman of United Nations' Panel of External Auditors The United Nations’ Panel of External Auditors which comprises Supreme Audit Institutions (SAIs) engaged in auditing United Nations, its specialised agencies a

Posted in Audit | 1 comments | 8841 Views