CAclubindia News

Option to an entity to adopt alternative treatment in AS 15 - by ICAI

06 November 2007 at 21:58

An amendment by way of limited revision to Accounting Standard (AS) 15, Employee Benefits (revised 2005), has been made with a view to provide, inter alia, an option to an enterprise to charge additional liability arising upon the first application o

Posted in Accounts | 9201 Views

ICAI proposes dual taxation structure for GST roll-out

06 November 2007 at 01:13

The Institute of Chartered Accountants of India (ICAI) on Monday recommended that Goods and Service Tax (GST), proposed to be implemented from 2010, should have dual tax structures at the Centre and state levels.The GST is expected to create a common

Posted in GST | 2 comments | 12381 Views

Hike in CA pay packages!!!

03 November 2007 at 13:17

MBA finance grads watch out, CAs are inching closer in terms of pay packages. In the latest round of placements of CAs, held last month, average salaries have shot up to almost Rs 6 lakh per annum. The average salary of CAs reached to a new high of R

Posted in Career | 1 comments | 30366 Views

Due date of Tax audit extended!!!

31 October 2007 at 19:21

No. 402/92/2006- MC (46 of 2007)Government of India/ Ministry of FinanceDepartment of RevenueCentral Board of Direct TaxesNew Delhi, the 31 st October 2007PRESS RELEASEThe Central Board of Direct taxes have extended the last date of filing of income

Posted in Income Tax | 3 comments | 21483 Views

Ernst & Young and its associates booked by service tax department

30 October 2007 at 10:40

Top Tax Advisory Firm Ernst & Young and its associates booked by service tax department and issued Show Cause Notices for Service Tax evasion of over Rs. 8 Crores October, 26th 2007 Ernst & Young is advising over 400 MNCs on service tax matters.MNCs

Posted in Service Tax | 18945 Views

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 | 5919 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 | 19854 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 | 6663 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 | 11340 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 | 5325 Views