WHAT IS THE BUDGET? A Government budget is a legal document that is – • Passed by the Parliament, and • Approved by the President. • The two basic elements of any budget are the revenues and expenses. WHEN IS THE BUDGET PRESENTED? The Union Budget is presented to Parliament in two parts i.e. Railway… Read More »
Indian Railways Launches a New Micro – Site for Railway Budget 2016-17 Update and Budget Watch Indian Railways has started a new micro-site for latest Railway Budget update and live budget watch. It will be a one-stop shop for all Railway budget related information. One can watch budget live also here. Its URL is http://www.railbudget2016.indianrailways.gov.in… Read More »
HELD A number of representations were received against the omission of the words ‘reason to believe’ from section 147 and their substitution by the ‘opinion’ of the Assessing Officer. It was pointed out that the meaning of the expression, ‘reason to believe’ had been explained in a number of court rulings in the past and was well… Read More »
Applicability of Standards/Guidance Notes/Legislative Amendments etc. for May, 2016
Source : ICAI 23rd February, 2016 Important Announcement The Board of Studies have received lot of queries from students regarding the relevance of October, 2014 edition of study material/December, 2014 edition of practice manual vis-à-vis January, 2016 edition with respect to Final Paper 4: Corporate and Allied Laws for May, 2016 examination. The October 2014… Read More »
Board of Studies, ICAI invites applications for the award of Scholarships to the selected candidates to be paid from April 1, 2016 onwards u n d e r f o l l o w i n g c a t e g o ri e s : Read Complete Announcement
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA (Set up by an Act of Parliament) NOTIFICATION New Delhi, the 19th January, 2016 No. 13-CA(Exam.)/M/2016.—In pursuance of Regulation 22 of the Chartered Accountants Regulations, 1988, the Council of the Institute of Chartered Accountants of India is pleased to notify that the Intermediate (IPC) and Final examinations will… Read More »
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 5/2016-Customs (ADD) New Delhi, dated the 22nd February, 2016 G.S.R. (E). -In exercise of the powers conferred by sub-section (1) and sub-section (5) of section 9A of the… Read More »
RBI announces the extension of SAARC Swap Arrangement Date : Feb 23, 2016 To further financial stability and economic cooperation within the SAARC region, the Reserve Bank of India has, with the concurrence of the Government of India, decided to extend the SAARC Currency Swap Arrangement till November 14, 2017. It may be recalled that… Read More »
Date : Feb 22, 2016 The Reserve Bank of India (RBI) has cancelled the certificate of registration of the 26 (twenty six) non-banking financial companies (NBFCs) as shown in Annex, in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934. Following the cancellation of registration… Read More »