CAclubindia News
Sebi scraps MF entry, exit loads from April 1
20 March 2008 at 11:07Sebi scraps MF entry, exit loads from April 1Mumbai March 19, 2008The Securities and Exchange Board of India (Sebi) scrapped loads (entry as well as exit) charged by mutual funds on bonus units and units allotted on reinvestment of dividend, with eff
E-payment mandatory from 01.04.08
19 March 2008 at 19:12Allincome tax payments are mandatorily to be made only electronicallyw.e.f.1.4.2008, for companies and others liable for tax audit undersection 44 AB. The relevant Notification is given below.NOTIFICATION NO 34/2008, Dated: March 13,2008 Inexercise
110% rise in corporate advance tax payments
19 March 2008 at 15:30CORPORATE advance tax payments for the final quarter of the fiscal year have risen sharply, indicating that earnings for the January-March period, scheduled to be announced next month, could be robust. That would be good news for the capital markets
US Federal Reserve cuts over night interest rates by 75 basis points
19 March 2008 at 14:58THE US Federal Reserve has cut interest rates by 75 basis points to bring down the overnight rates to 2.25 in the FOMC meeting held on Tuesday. Prior to that on Friday there was a cut in the rate of interest by 25 basis points in the wake of the resc
Tax targets go up only to face low collection level
19 March 2008 at 14:56New Delhi, Mar 17 In this world nothing is certain but for death and taxes, it is said. But collecting a part of these taxes, estimated at close to Rs 1 lakh crore, is proving to be full of uncertainties for tax authorities. The revenue department ha
Guideline for the Members of ICAI relating to Bank Audit
17 March 2008 at 17:38RBI policy of rotation and resting for statutory branch auditors which was applicable to 17 centres viz., Mumbai, Kolapur, Pune, Solapur, Thane, Kolkata, Chennai, Coimbatore, Delhi/New Delhi, Ajmer, Bikaner, Jaipur, Kota, Udaipur, Ahmedabad, Vadodara
One Lakh Companies lost their registration
16 March 2008 at 23:24Date 15.03.2008 One Lakh Companies lost their registrationThe government has cancelled the registration of over one lakh Companies for failing to file annual returns, Parliament was informed on Friday. There were about 7,43,628 Companies registe
Clarification of amendment in Penalty for concealment provisions
16 March 2008 at 23:14In view of the apprehension raised on the retrospective amendment to section 271 of the Income-tax Act, proposed in the Finance Bill, 2008, empowering the assessing officer to, inter-alia, levy penalty in case of concealment of income, the Ministry o
Financing of LOAN WAIVER
16 March 2008 at 11:11FINANCING THE FARM LOAN WAIVER PACKAGE 18:59 ISTFollowing is the text of the statement on Financing the Farm Loan Waiver Package made by Finance Minister Shri P. Chidambaram in Lok Sabha today.1. In my budget speech before the House, I had an
Auditors recommended for appointment in Public Sector Bank 07 08
14 March 2008 at 19:12Satutory Branch Auditors recommended for appointment in Public Sector Bank 07-08Information relating to allocation of auditors/audit firms to various public sector banks for the year 2007-08 is hosted on the web-site of RBI. While forwarding names of
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