Finance Commission Report on GST flawless

Finance Commission Report on GST flawless

Symbol for Rupee in final lap

Panel shortlists five candidates, decision on winning entry in January.
The long wait for a symbol of the rupee is expected to end by March next year. A committee headed by Reserve Bank of India (RBI) Deputy Governor Usha Thorat has shortlisted five symbols from 4,000 entries for a public competition to select a design for [...]

Goods and service tax in Gujarat not before April 2011

Goods and service tax (GST) in Gujarat not before April 2011

‘Unless you act on audit reports, don’t blame the auditor’

The Institute of Chartered Accountants of India (ICAI),  with over 1,50,000 members and 6,00,000 students, is one of the largest accounting bodies in the world. Mandated to regulate the profession of chartered accountants (CAs), the ICAI has been in the news since the auditors of ill-famed Satyam Computers failed to detect the lengthy accounting fraud [...]

Gujarat’s income tax collection may rise by 18% this fiscal

Gujarat’s income tax collection may rise by 18% this fiscal

PAN to be linked with Unique Id Number

PAN to be linked with Unique Id Number

Highlights of Foreign Trade Policy 2009-14

Higher Support for Market and Product Diversification
1. Incentive schemes under Chapter 3 have been expanded by way of addition of new products and markets.
2. 26 new markets have been added under Focus Market Scheme (FMS).
3. Incentive available under FMS raised from 2.5% to 3%.
4. Incentive available under Focus Product Scheme (FPS) raised from 1.25% to [...]

Corporate Laws: Recent News Snippets

MCA plans system in 2 months to detect fraud in early stages

According to an official of the ministry of corporate affairs, who did not wish to be identified, a seven-member internal committee headed by an additional secretary of the ministry of corporate affairs (MCA) has been working to evolve a mechanism of [...]

Direct Taxes: Recent News Snippets

New Draft Direct Taxes Code released

As promised by the finance minister in his Budget Day speech in July, the New Draft Direct Taxes Code was released for public discussion on August 12. The stated intent is to fulfil the long-standing and ambitious plan of simplifying the country’s complex direct tax [...]

Pre-Budget `09 Whispers

When the FM presents his full Budget on 6th July `09, his priorities will be clear –

Bridge the fiscal deficit
Garner funding for infrastructure
Put economy back on high growth trajectory
Promote Equitable Growth
Inflation - Even as WPI falls, consumer price index is very high
Need for simplified, revised income-tax regulations

Here is a [...]