CAI proposes new course for accounting technicians In a movethat could open up an entirely new stream in the accounting professionand create millions of jobs, the Institute of Chartered Accountants ofIndia has proposed a new course for those who cou
TAX payers will now have to pay FBT when they make payments for advancetax to the governments. Budget 2007-08 has aligned the due dates forpayment of FBT with advance corporate or income tax.Finance Minister P Chidambaram has proposed amendments in t
Companies may not be as generous with Esops since it would result in a rise in their tax expenses. Employee stock option plans (Esops) will now be brought under the purview of the fringe benefit tax (FBT). Thus,companies will now have to pay tax at f
After the launch of the e-filing process for income tax returns, it is now the turn of excise and service tax departments.Thefinance ministry has made it mandatory for all assessees paying exciseand service tax of Rs 50 lakh and above, to pay the tax
Income from dividends, which is at present taxed in the hands of the companies, could soon be added to one's income and may have to shell out the applicable income tax.
In certain situations, a company can seek exemption from therequirements of Sec. 211 of the Companies Act, 1956 relating to theForm & Content of Balance Sheet and Profit & Loss Account.Application to Central Government -Sec.211(4) provides th
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