Source Reserve Bank of India RBI/2015-16/315 DBR.BP.BC.No.76/21.07.001/2015-16 February 11, 2016 All Scheduled Commercial Banks (excluding Regional Rural Banks) Madam / Dear Sir, Implementation of Indian Accounting Standards (Ind AS) The Ministry of Corporate Affairs (MCA), Government of India has notified the Companies (Indian Accounting Standards) Rules, 2015 on February 16, 2015. A reference is also… Read More »
Standard on Assurance Engagement (SAE) 3420, Assurance Engagements to Report on the Compilation of Pro Forma Financial Information Included in a Prospectus – (05-02-2016)
Revised Standard on Auditing (SA) 610, Using the Work of Internal Auditors – (05-02-2016)
Date : Feb 08, 2016 The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following four non-banking financial companies (NBFCs) in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934. Sr. No. Company’s Name Address of Registered Office Certificate of… Read More »
Source : Institute of Chartered Accountants of India Announcement Manner of Signing of Certificates by Chartered Accountants 1 The Council of the Institute of Chartered Accountants of India (ICAI), at its 349th meeting held on 17th and 18th January, 2016 considered an issue relating to manner of signing of certificates by Chartered Accountants. The Council… Read More »
Held In my considered opinion, corruption can be beaten if all work together. To eradicate the cancer of corruption – the “hydra-headed monster”, it is now a high time for the citizens to come together to tell their Governments that they have had enough. That is this miasma of corruption. If the same continues, taxpayers’… Read More »
Facts of the case the respondent is in the business of purchase and sale of Hyundai cars manufactured by Hyundai Motors Limited, Chennai. As a dealer of said cars, both at Kozhikode (Calicut), Kerala where their head office is located and also at Mahe within the Union Territory of Pondicherry where they have a branch… Read More »
Facts of the case In respect of outstanding dues of the HUF, an order of attachment came to be passed by the Commercial Tax Officer under section 45 of the Gujarat Value Added Tax, 2003 (hereinafter referred to as ‘the GVAT Act’) attaching the properties of Shilpaben P Shah, wife of the karta of the… Read More »
Source :Reserve Bank of India Date : Feb 04, 2016 The Reserve Bank of India, in consultation with the Government of India, has revised nine regulations issued under the Foreign Exchange Management Act, 1999 (FEMA). Consequently, the respective original notifications and subsequent amendments stand repealed. For easy identification, revised regulations will carry the same numbers… Read More »
Source Reserve Bank of India Date : Feb 05, 2016 The XBRL International, the global custodian of the eXtensible Business Reporting Language (XBRL) standard awarded the ‘ XBRL International Award for Excellence ’ to the Reserve Bank of India (RBI). The award has been given to the Reserve Bank in recognition of its efforts in ‘Innovation and… Read More »