CAclubindia News

Mid-Quarter Monetary Policy Review: December 2012

19 December 2012 at 10:28

Monetary and Liquidity Measures On the basis of the current macroeconomic assessment, it has been decided to: · keep the cash reserve ratio (CRR) of scheduled banks unchanged at 4.25 per cent of their net demand and time liabiliti

Posted in Community & General | 7122 Views

IND-AS placed on MCA website for wider dissemination

18 December 2012 at 11:54

Indian Accounting Standards After extensive stakeholders consultation on IFRS standards, the converged Indian Accounting Standards (IND-AS) have been placed on the website of the Ministry of Corporate Affairs for wide dissemination and fa

Posted in Accounts | 2 comments | 13611 Views

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 Community & General | 5457 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 | 6816 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 | 36657 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 | 10887 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 | 28530 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 | 10326 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 | 12345 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 Community & General | 1 comments | 8337 Views