With economic offences seeing an increase, the CBI has written to the Institute of Chartered Accountants of India (ICAI) to probe the growing number of white collar crimes.
The Indian Merchants Chamber and Bombay Chartered Accountants Society has made an appeal to finance minister P Chidambaram to simplify the process of filing income tax returns by restoring the Saral forms.
According to sources in the Excise department, the Sahara Airlines, while submitting opinion of its Chartered Accountant on service tax, had allegedly backdated it to 2003 in which it was stated that Rs 1442 crore (Rs 14.42 billion) income from advertising services provided to its group company was not taxable under advertising services.
The 39-year-old was arrested by the Enforcement Directorate from Ranchi after the agency conducted multi-city raids against him, Singhal, her businessman husband Abhishek Jha and others, on May 6.
"Income tax revolution is going to take place. There is no limit to reforms in the income tax department and in the country as a whole," Central Board of Direct Taxes member B Swarup said in New Delhi.
Following the request of the Securities and Exchange Board of India, the Institute of Chartered Accountants of India
The Delhi high court granted bail to arms dealer Suresh Nanda, his son Sanjeev and two others who allegedly manipulated evidence in the case of alleged kickbacks in the Barak missile deal
In 2012, Diageo had paid Rs 3,635 cr directly to Mallya for his 19.3% stake in United Spirits.
Meet Sini Shetty who will represent India at the 71st Miss World beauty pageant on March 9.
Meanwhile, company secretaries' body ICSI is also writing to the company secretary of Satyam Computer today to submit a report on corporate governance in a week. ICSI president Keyoor Bakshi said the government had earlier asked the institute to look into the revelations made by Satyam Computer's founder President Ramalinga Raju.
In fact, the ministry of corporate affairs announced that role of directors and auditors at Satyam will be scanned by ICAI and the apex body of company secretaries.
PwC's comments are still awaited. Following a letter from the Satyam chairman, who accepted that he had misrepresented facts in the company's balance sheet, role of auditors and accountants for the company has also come under scanner.
Rehan Yar Khan of the Indian Angel Network discusses how young entrepreneurs should go ahead with their startup companies.
facilities at Bangalore one understands the financial year end frenzy at these establishments and the slipshod slippages in timeframes, quality of overhaul, servicing and quality control across the board, for aircraft and equipment alike,' says Group Captain Murli Menon (retd).
The Indian Institute of Chartered Accountants in Mumbai dismissed the batsman's claim for Rs 22 lakh.
The 193-member General Assembly adopted the draft resolution, put forward by Ukraine and its supporters, titled 'Principles of the Charter of the United Nations underlying a comprehensive, just and lasting peace in Ukraine'.
If time is what you have to offer, Dignity offers several options.
Under the Companies Act, 2013, auditors have the responsibility of reporting frauds, at entities being audited by them.
Setting aside the ban on PwC, which is one of the Big Four global accounting firms, SAT said only the national auditors watchdog ICAI (Institute of Chartered Accountants of India) can take any action against its members and fraud cannot be proved on the basis of negligence in auditing.
In a multi-city protest on Monday, a large number of company secretaries (CS) and chartered accountants (CAs) came together to seek extension of the deadline for annual filing due to glitches in the ministry of corporate affairs (MCA) portal. According to the Companies Act, firms are supposed to submit Form AOC 4 for filing of the balance sheet within 30 days of holding the annual general meeting (AGM). This deadline was over on October 29.
If you are a new taxpayer or one who is struggling to obtain a foothold in the world of taxes, our attempt at simplifying the tax filing process seeks to help you sail through this. Read on. . .
The government said in Friday it was negotiating aggressively at the World Trade Organisation to facilitate easy movement of professionals across borders to deliver services.
Get Ahead reader Sunil Agarwal tells you how a a low EMI can reduce your stress levels.
The latest passion of the Institute of Chartered Accountants of India (ICAI) is not selling blazers. Nor is it inauguration of residential courses. It is IFRS, IFRS and IFRS. Or International Financial Reporting Standards.
Those running from pillar to post to get their Income Tax refund dues can seek solace in Right to Information Act, which is fast becoming a potent tool to get refund faster.
The Institute of Chartered Accountants of India has offered technical information for drafting the rules for valuing employee stock options for calculating the fringe benefit tax.
Chartered accountancy firm Lodha & Co has resigned as a statutory auditor for Birla Global Finance.
Saving tax is the main motto of all taxpayers. While some hire chartered accountants, others pore through tax laws, or ask friends to find out if there are ways by which they can save.
The taxpayer-funded licence fee supported UK media corporation said it has contacted the social media giant over the designation on its @BBC account to resolve the issue "as soon as possible".
Professionals like engineers, doctors and accountants are taking out insurance against malpractice suits. Arti Sharma finds out what's on offer.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
As many as 87 public sector servants in the United Kingdom, including a leading NRI financial wizard Zarin Patel, earn more than British Prime Minister Tony Blair, according to the first 'Public Sector Rich List' released on Friday.
A bench comprising Justice S B Sinha and Justice H S Bedi, which is hearing the matter, had earlier issued notices asking Lodha, the representatives and legal heirs of Late Laxmi Devi Newar, including Nand Gopal Khaitan, to file their replies. The hearing will resume on Wednesday.
Fidelity Equity Fund and Fidelity Tax Advantage Fund's manager Sandeep Kothari speaks about his investment philosophy and how he overcame the most difficult phase of his career.
Wipro chairman Azim Premji on Friday said a nation cannot be self-sufficient in strategic sectors like defence, nuclear energy and space technologies without domestic capabilities in hardware development
Engineering giant Larsen and Toubro and Aditya Birla group firm Grasim Industries are set to settle their long-standing dispute over the sale of cross-holdings out of court. Both the companies are believed to be in consultation with Chennai-based chartered accountant S Gurumurthy to act as arbitrator.
