Others News

Quoting PAN compulsory for insurance with premium above 1 lac

27 July 2009 at 10:52

Requirement of PAN for Insurance ProductsCircular No: 021/IRDA/LIFE/PAN/Jul-2009Dated 23-7-2009It has been decided to mandate the requirement of PAN on all high value insurance products. All Insurers are therefore advised to collect PAN from all per

Posted in Others | 1 comments | 3705 Views

Cash Withdrawal at Point-of-Sale

23 July 2009 at 11:26

Cash Withdrawal at Point-of-SaleRBI/2009-10/105DPSS.CO.PD.No. 147/02.14.003/ 2009-1022nd July 2009ToAll System Providers (VISA / MasterCard / American Express), All Scheduled Commercial banksDear Sir,Cash Withdrawal at Point-of-Sale (POS)Presently c

Posted in Others | 1 comments | 11436 Views

Refrain from sending separate empanelment to NABARD

15 July 2009 at 16:52

As everybody is already aware, National Bank for Agriculture and Rural Development (NABARD) takes panel from the Institute of Chartered Accountants of India for the empanelment of Statutory Auditors of Regional Rural Banks. (RRBs)In this context, it

Posted in Others | 2 comments | 5982 Views

Cases referred to the Serious Fraud Investigation Office

13 July 2009 at 12:26

In all, 37 cases were referred to the Serious Fraud Investigation Office (SFIO) during the last three years i.e. during the years 2006-07, 2007-08 and 2008-09.Out of these 37 cases, investigations in respect of 9 cases have been completed. The number

Posted in Others | 3 comments | 10206 Views

Professionalism as a Tool to Economic Growth

13 July 2009 at 10:35

Professionalism as a Tool to Economic GrowthCelebrating Sixty year of historic run and this year as ICAI’s Diamond Jubilee Year, The Institute of Chartered Accountants of India (ICAI) organized a Diamond Jubilee Conference for its members with

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Launch of XBRL India Website

13 July 2009 at 10:32

Launch of XBRL India WebsiteXBRL (eXtensible Business Reporting Language) XBRL (eXtensible Business Reporting Language) is a novel way of electronic communication of business and financial data which is revolutionizing business reporting around the w

Posted in Others | 4 comments | 7554 Views

Taxing transactions without or inadequate consideration

09 July 2009 at 17:18

Taxation of certain transactions without consideration or for an inadequate consideration as income from other sources Section 56(vi) provide that any ‘sum of money’ (in excess of the prescribed limit of Rupees fift

Posted in Others | 2 comments | 13476 Views

Budget aimed at demand led growth - ICSI

08 July 2009 at 10:56

The Institute of Company Secretaries of India (ICSI) welcomes the development oriented budget of the new Government boosting the economy through renewed emphasis on infrastructure, agriculture, rural economy and exports for ‘inclusive gro

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Enhancement of the limit for payment of advance tax

07 July 2009 at 16:24

Enhancement of the limit for payment of advance tax Under the existing provisions of section 208 the Income-tax Act, liability for payment of advance tax during a financial year arises when the amount of such tax payable during that year is Rs.5

Posted in Others | 10 comments | 19260 Views

Computation of profits and gains of business on presumptive

07 July 2009 at 15:59

Computation of profits and gains of business on presumptive basis- Section 44ADSection 44AD prescribes a method of presumptive taxation for assessees engaged in the business of civil construction or supply of labour for civil construction in wh

Posted in Others | 11 comments | 15627 Views