- Khursheed: Cap on CEO’s Salaries removed in New Companies Bill
- Profession Tax Enrollment Incentive Scheme 2009
- SEBI: Systemic Solution to address Recurring Complaints from Investors
- Online Registration of TAN
- Indexed Cost of Gifted Assets has to be Determined with Reference to Previous Owner
- ICSI would submit its recommendations for better Corporate Governance
- Easing of Listing Standards for SMEs to be Considered by SEBI
- Proceedings against Price Waterhouse, Delhi by ICAI still Awaited
- BJP rejects Direct Tax Code Draft, calls it an ‘Optical Illusion’
- Disallowance U/S. 14A can be made with regard to partner’s share of profits
- MCA’s New Mantra – be a Facilitator in Corporate Growth Instead of Just another Regulator
- Draft norms on Non-Convertible Debentures issued by RBI
- SEBI Proposed a New Set of Norms to Stop Misuse of Power of Attorney
- Allowability of Claim for Refund of TDS when Wrongly Remitted to Revenue by Employer
- Applicability of Section 14A of IT Act vis-a-vis Assessment of a Firm and its Partners
- Depreciation is Mandatory for Chapter VI-A Deduction
- ICAI, Audit Firms against Autonomy to Govt Baks in Choosing Auditors
- Government Plans System to Track Corporate Fraud
- Agreement on Major GST issues still Elusive: PwC
- No LTA for Employee Using Car or Taxi, Disabled Exempted: Govt
- IRDA asked to Relax Life Cover Norms for Senior Citizens
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Khursheed: Cap on CEO’s Salaries removed in New Companies Bill Posted: 06 Nov 2009 06:43 AM PST The existing 11% cap on salaries of chief executives officers (CEOs) of companies has been removed in the new Companies Bill, 2009, corporate affairs minister Salman Khursheed said. He said that the government has made this modification on its own. Salaries of the CEOs should be decided by shareholders, he added. Khursheed, who inaugurated the 37th national convention of the Institute of Company Secretaries of India, said the new Bill, which was tabled in the Lok Sabha in August, was being... (This is a just a summary, read the full article at www.forum4finance.com) |
Profession Tax Enrollment Incentive Scheme 2009 Posted: 06 Nov 2009 06:29 AM PST TRADE CIRCULAR DATED: 03/11/2009 No.PFT/2009/ P.T./Adm- 29/…./B (Trade Cir.No.30T of 2009) Sub: Profession Tax Enrollment Incentive Scheme 2009 The Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975. Ref: 1. Budget Speech by Hon’ble Finance Minister. 2. Notification published in the Govt. Gazette Government Resolution No. P.T.-I 109/C.R. 35/Taxation- 3, Mantralaya, Mumbai-400 032 dated 29′” July, 2009. Gentlemen/Sir/ Madam, The Maharashlra... (This is a just a summary, read the full article at www.forum4finance.com) |
SEBI: Systemic Solution to address Recurring Complaints from Investors Posted: 06 Nov 2009 06:21 AM PST The Securities and Exchange Board of India (SEBI) wants to find a systemic solution to address recurring complaints from investors, even as it is trying to bolster investor confidence through measures such as the ban on entry load of mutual funds and the ASBA facility in IPOs. “We need a systemic solution if complaints are coming to us repeatedly. For instance, we get complaints after a public issue that the investor has not received a refund. While pulling up the investment bankers or... (This is a just a summary, read the full article at www.forum4finance.com) |
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Posted: 06 Nov 2009 06:13 AM PST The Income Tax Department requires all deductors to register their TANs online. Authenticated access (through user ID and password) will be provided to registered deductors. Registration is free. An acknowledgment number will be displayed on successful registration. This acknowledgment number is to be kept securely. In future user id / password will be provided to the deductors who have successfully registered. On login, the following will be available to the deductors- i. view of the status... (This is a just a summary, read the full article at www.forum4finance.com) |
Indexed Cost of Gifted Assets has to be Determined with Reference to Previous Owner Posted: 05 Nov 2009 07:44 AM PST DCIT vs. Manjula Shah (ITAT Mumbai Special Bench) The assessee transferred a capital asset which was received by her by way of gift on 1.2.2003. The previous owner had acquired the capital asset on 29.1.1993. In computing capital gains, the assessee claimed that the indexed cost of acquisition had to be worked out by taking the date of acquisition by the previous owner. The AO rejected the claim though the CIT (A) accepted it. On appeal by the Revenue, the issue was referred to the Special... (This is a just a summary, read the full article at www.forum4finance.com) | |||||||||||||||
ICSI would submit its recommendations for better Corporate Governance Posted: 05 Nov 2009 05:00 AM PST The Institute of Company Secretaries of India (ICSI), the regulator for company secretary profession, would submit its recommendations for better corporate governance to the government at the 37th National Convention of Company Secretaries that begins tomorrow. These relate to defining the role of independent directors in companies, the need to extend special incentives, like reduction in tax rates or in interest rates, to companies that have a consistent corporate governance record and...
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Easing of Listing Standards for SMEs to be Considered by SEBI Posted: 05 Nov 2009 04:55 AM PST The Securities and Exchange Board of India is convening a meeting on November 9 to consider relaxing listing standards for small and medium enterprises. “Based on feedback from market participants we are considering relaxation of certain standards,” Sebi wholetime member M S Sahoo said at an Assocham conference. Sahoo said the market regulator is considering relaxing the entry criteria of Rs 3.00 crore tangible assets (each of the preceding three years) for SME listing. A small firm with a...
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Proceedings against Price Waterhouse, Delhi by ICAI still Awaited Posted: 05 Nov 2009 04:50 AM PST The Delhi High Court had observed that since there was no inter-connection between PW Bangalore, which audited the accounts of fraud-hit IT firm Satyam, and PW Delhi, it was not fair to proceed with disciplinary action against the firm. “They are separate partnership firms with separate balance sheets. There is no inter-connection (between PW Delhi, PW Bangalore and PW Kolkata and profit and loss of one cannot be shared by others. You cannot say that the Banglore firm which was the statutory...
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BJP rejects Direct Tax Code Draft, calls it an ‘Optical Illusion’ Posted: 05 Nov 2009 04:45 AM PST The main opposition Bharatiya Janata Party or BJP today flayed the UPA government on the proposed direct tax code (DTC), terming it as “deceptive and illusionary” and urged the government to not present the code in its present form. “The DTC should not be passed in the present form by the government. We will request the finance minister to rethink (on the provisions of the proposed tax code),” senior BJP leader Arun Jaitely told reporters at a seminar on the Direct Tax Code organised by the... (This is a just a summary, read the full article at www.forum4finance.com)
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