CAclubindia News


I-T Dept urges SC to revisit BPO tax ruling ::

   28 October 2007 at 10:37

The outcome of the review plea will have a bearing on the more than 100 back offices of multinationalsSanjiv Shankaran Of foreign companies with India's income tax (I-T) department filing a review petition earlier in the week in the Supreme Court urg

Posted in Income Tax  1 comments |   5961 Views


E-payment of taxes mandatory from January

   25 October 2007 at 16:24

"E-payment of taxes mandatory from January" Chennai, (PTI): E-payment of taxes for corporates and tax-payers coming under the provision of Section 44AB would be mandatory from January 1 next, C R Ravichandran, Chief Commissioner of Income Tax said. S

Posted in Income Tax  2 comments |   19875 Views


FinMin notifies guidelines for FBT on esops

   23 October 2007 at 21:34

The Finance Ministry has notified the guidelines for FBT on ESOPs. For listed entities,the fair market value, or FMV will be determined on the date of vesting.FMV will be the average of opening and closing quotes of the scrip. For unlisted companies,

Posted in Income Tax |   6720 Views


New Company Law at the threshold!!!

   21 October 2007 at 13:30

Preparations for a new Company Law are in final stage and the bill would be introduced in the winter session of Parliament, Union Minister of State for Law and Justice K Venkatapathy said.The new law was aimed at striking a fine balance between freed

Posted in Corporate Law  3 comments |   11385 Views


Concept paper convergence with IFRSs in India

   21 October 2007 at 01:01

Convergence with International Accounting Standards (IASs)/International FinancialReporting Standards (IFRSs) (collectively referred to as IFRSs), issued by the InternationalAccounting Standards Board (IASB) has gained momentum in recent years all ov

Posted in Career |   5376 Views


ICAI to announce awards

   20 October 2007 at 22:24

Accounting professionals who silently play a pivotal role in shaping the financial health of business houses will now come into the limelight.The Institute of Chartered Accountants of India (ICAI) has decided to honour its members for demonstrating e

Posted in Career |   5679 Views


AS 30 & 31 Approved by ICAI w.e.f 01.04.2009

   18 October 2007 at 19:15

The Council of the Institute of Chartered Accountants of India, at its 273rd meeting held on October 10-12, 2007, approved the Accounting Standard (AS) 30, Financial Instruments: Recognition and Measurement and Accounting Standard (AS) 31, Financial

Posted in Audit |   26529 Views


P Note curbs to raise tax issues

   18 October 2007 at 15:02

The proposed curbs on inflow through P-notes could raise tricky tax issues for foreign investors and institutional players. If the measures are imposed in totality, it could have adverse tax implications for many investors. The issue primarily concer

Posted in Income Tax |   4995 Views


If ODI is not one-day international, what's it?

   17 October 2007 at 23:59

Participatory notes or PNs are back in the news, with the SEBI (Securities and Exchange Board of India) issuing a draft discussion paper on ODIs (overseas derivatives instruments). If that is too much of an alphabet soup to start, on a day that saw t

Posted in Investments & Personal Finance |   5199 Views


DTA Agreements can lower tax bill for NRIs

   17 October 2007 at 20:08

Taxation can be a complicated issue for a non resident (NRI). He may be subject to tax in India on some income and further doubly taxed in both countries on another source of income. This situation of double taxation can be avoided by appropriate pla

Posted in Income Tax |   3486 Views



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